New Delhi, June 1 -- Rajeev Thakkar, chief investment officer of PPFAS Mutual Fund (Parag Parikh Financial Advisory Services), oversees assets exceeding Rs.1 trillion. Thakkar, 52, has built a solid track record over the years, with the Parag Parikh Flexicap Fund becoming the largest fund in its category. Incidentally, this is also the fund that Thakkar uses for his own equity investments.

In this interaction with Mint for the 'Guru Portfolio series', Thakkar shares how he manages his personal investment portfolio and why his equity allocation has reduced.

Over the past five years, my portfolio has seen a shift, especially in the last one to two years. We've been cautious as a fund house, largely due to elevated valuations in the market...