PPFAS Mutual adds Amazon

PPFAS Mutual Fund bought ₹7 crore worth of Amazon Inc at a price of $1,466 a share in January. This amounts to around 0.5 per cent of their total AUM for January, according to a release by PPFAS. The fund has offloaded its entire holding in Pfizer. PPFAS’ top-three holdings are: Alphabet (9.97 per cent), HDFC Bank (7.89 per cent) and Bajaj Holdings (6.27 per cent). “Amazon will not move the needle significantly either on the upside or the downside since the position is tiny. Indeed, the position size is less than the daily NAV movement on many days recently, given the volatile markets,” says Rajeev Thakkar, CIO, PPFAS Mutual Fund. Our Bureau