Parikh dies on way to Buffett meet

Mumbai/ New York, May 4: Noted investor Parag Parikh, founder of mutual fund house PPFAS, died in a car accident in Omaha in the United States on Sunday.

Parikh’s office in Mumbai confirmed his demise, who was in the United States to attend the annual shareholder meeting of Warren Buffett’s Berkshire Hathaway Corporation.

Union KBC Mutual fund chief executive officer G. Pradeep Kumar said, “Parikh had a very good understanding of the market and he was a seasoned value investor. He was very much committed and talking to him was very good learning experience for me”.

“It’s a big loss for the AMC industry. As a Dalal street veteran, Parekh tried to make investing a simple business for investors by having just one simple product,” Quantum AMC chief executive officer Jimmy Patel said.

“He was one of the few investment experts, who saw a potential in the direct-toin-vestor route of investing,” Mr Patel added.