Monthly Market Outlook March 2021
The views expressed in this presentation are through the period ending 01-Mar-21 and are subject to change at any time based on market and other conditions. This is not an offer or solicitation for the purchase or sale of any security and should not be construed as such. References to specific securities and issuers are for illustrative purposes only and are not intended to be, and should not be interpreted as, 1 recommendations to purchase or sell such securities. Equity Market Outlook
March 2021
2 Content Page Numbers Global Economy 4 Indian Economy 12 Risk 23 Equity Markets 28 Valuation 34 SIP Has Performed Well 42 Equity Investment Opportunity 47 Should We Invest In Gold ? 53 Active V/S Passive Funds in Alpha Generation 55 Debt Market Outlook 60 Debt Investment Opportunity 71 Distributor Engagement 76 Annexure 81 Disclaimers & Disclosures 87 3 Global Economy
4 Global GDP Growth Set To Recover Sharply
Note: Based on MSCI ACWI countries. Source: Jefferies, Factset, IMF 5 US Federal Government Budget Deficit & Borrowing Has Gone Up Significantly
(billion dollars)
Source: US Treasury Department, yardeni.com 6 Solid Breadth Of Companies Beating Earnings Estimates Across Regions
Source: Bloomberg, Finance LP, Deutsche Bank 7 Market Likely Driven By Excess Personal Savings
US Excess Personal Savings
Source: BEA, Haver Analytics, Morgan Stanley Research forecasts as of Jan 25, 2021 8 US Retail Investors Plan To Put A Significant Chunk Of Any Forthcoming Stimulus Into The Stock Market
Planned proportion of stimulus amount in stock market investment if received in 2021 (%)
Source: dbDIG Survey , Deutsche Bank Asset Allocation 9 Surge In US Inflation Expectation Continues Unabated Now at Its Highest Level In Over 8 Years
Source: Compoundadvisors.com 10 Commodity Prices Are Rising, But Not Yet To Dramatic Levels of 2007-08
Source: Refinitiv 11 lndian Economy
12 Headlines In Feb 21
Source: Bloomberg Quint
Updated on Feb 09, 2021 07.01 PM IST
Source: Business Today
13 Headlines In Feb 21
Source: Bloomberg Quint
Source: Business Standard
14 Company Registration Jumps 21% in April – Dec’20
Sharp growth was due to the progression of smaller firms and LLPs towards forming companies as growth picked up along with improved facilitation through digital services.
Source: MCA 15 India’s Public Debt To GDP Has Been Significantly Low Compared To Other Countries India’s Debt To GDP VS. Major Economies
Source: Economic Survey 2020-21 16 Government’s Reform Momentum To Bolster Potential Growth
Source: Elara Securities 17 V Shaped Recovery
Domestic and overseas demand hold up for Indian companies
Source: HIS Markit, Bloomberg, Index reading above 50 signals growth. Score is generated on the three-month weighted averages of the indicators against the past thirty months of historical data 18 Nomura India Business Resumption Index Is Almost At Pre- Pandemic Levels The resurgence of COVID-19 could represent a downside risk.
Source: Google, Apple, CMIE, Bloomberg and Nomura Global Economics 19 PLI Schemes Can Add 1.6% To FY27 GDP & Encourage Domestic Industry
Source: RAVE, Credit Suisseestimates 20 Real Estate Should Support Economic Recovery
Affordability levels at all-time high Mortgage rates have fallen to record lows
Source: The BLOOMBERG PROFESSIONALTM service, Credit Suisse estimates Source: SBI, HDFC, Jefferies 21 Budget Aims For Ambitious Infra Spending In FY22
Budget has laid ambitious target for FY22 spending Infrastructure capex allocation for FY22 is steep; execution key
Source: Budget, Elara Securities Research 22 Risk
23 Covid 19 Isn’t Yet Over
Source: Times of India 24 Upside Risks To Inflation Remain
Source: CEIC, UBS 25 RBI Survey Indicates Confidence Still Lagging
Source: RBI 26 Unemployment is Down but Income ?
CMIE Series of Unemployment: Unemployment Rate : 30 day moving Unemployment Rate unemployment rate (UER) (>=15) average (%) 01 Mar 2021*
Source: CMIE.com 27 Equity Markets
28 Sare Jahan Se Acha Hindustan Hamara
12 MONTHS FPI FLO W (Feb'20 to Feb'21) (USD bn) India 26.6
Brazil 3.9 -1.8 Indonesia
-2.6 Philippines
-5.6 Malaysia
-7.2 South Africa
-7.9 Thailand
-16.8 Taiwan
-24.0 South Korea
Source: Axis Capital 29 Performance Across Market Cap
Performance as on 28th Feb 2021 Sectoral Performance CY20 YTD (%)
50 17% 41.8 40 38.6 14% 12% 11% 11% 11% 11% 29.7 30 8% 6% 5% 4% 20 15.6 15.1 12.2 12.2 13.0 11.5 10.5 11.3 0% 9.2 10 6.6 5.8 -1%
0 -5% (1.2) -8% (10)
Nifty-50 Nifty Midcap 100 NSE SmallCap 100
Auto
Bank
FMCG
Realty
Media
Energy
Metals
Pharma
Secvices
NIFTY 50 Financials
1m returns 1y returns 3 yr CAGR 5 yr CAGR 10 yr CAGR IT Services
Midcap 100
Smallcap 100 Private Banks
Source: Bloomberg, Axis Capital. As on 28th February 2021. Past Performance may or may not sustain in the future 30 Bumper Results for Dec 20 Quarter
193 Cos Actual Expected NIFTY 50 Cos Actual Expected
Sales 0% -2% Sales -1% -2%
EBITDA 19% 15% EBITDA 15% 10%
PBT 33% 20% PBT 23% 9%
PAT 31% 17% PAT 22% 7%
Source : MOSL Research 31 Significant Profit Pool Expansion Seen In PSU Banks, Cement, Auto And Auto Ancillary And Metals Profit Growth By Sectors
Source : ICICI Securities , Internal Analysis, Sectors mentioned above are used to explain the concept and is for illustration purpose only and it should not be used for development or implementation of an investment strategy. It should not be construed as investment advice to any party. The stocks may or may not be part of our portfolio/strategy/ underlying scheme. 32 Nifty Earnings Are Expected To Accelerate Sharply Over Next Two Years
Rs. (LHS) YoY % (RHS) 900 40 Nifty EPS 34.9 796 800 35 685 700 30 25 600 20.7 483 508 20 500 11.7 457 418 414 16.3 15 402 404 386 16.7 400 372 310 333 11.1 10 285 8.1 8.3 300 7.4 236 8.9 5 200 0.5 (1.0) 0 (4.1) 100 (4.5) (5.4) (5)
0 (10)
FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20
FY21ii FY22ii FY23ii
Source: NSE, Company data, IIFL Research. Note: Based on IIFL estimates 33 Valuation Wise – Neutral Weight Momentum Wise - Overweight
Neutral weight doesn't mean selling equity. It means profit booking on excess position.
34 Market Cap-to-GDP Ratio – Above Long Term Average
Market cap-to-GDP ratio: Market rebound brings ratio above long term average
103 104 95 Average of 75% for the period 88 83 82 83 81 79 79 71 69 64 66 56
52 55
FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21E
OW Equities =Ratio Below Historical Lows Neutral Equities = Ratio at Historical Average
Source: Motilal Oswal 35 Valuations Are At The Higher End Of Fair Value
NIFTY P/E (x) - 1 Year Forward NIFTY P/B (x) - 1 Year Forward
28 4.5
23 3.8 Average: 17.9x 20.7 Average: 2.7x 18 3.1 3.0
13 2.3
8 1.5
Feb-06 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-15 Feb-16 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21
Feb-15 Feb-06 Feb-07 Feb-08 Feb-09 Feb-10 Feb-11 Feb-12 Feb-13 Feb-14 Feb-16 Feb-17 Feb-18 Feb-19 Feb-20 Feb-21
Source: Motilal Oswal 36 Valuations Above Long Term Average
1 Year Forward Sector P/E Current 10y Average Premium/(discount) Automobiles 23.2 15.8 46.9 Energy 15.8 11.0 43.1 Cement 30.3 21.9 38.7 Consumer Discretionary 59.0 42.5 38.7 Technology 23.6 17.7 33.1 Industrials 25.0 20.1 24.6 Pharmaceuticals 24.3 22.2 9.4 Consumers 34.8 31.8 9.4 Metals 9.3 10.3 -9.4 Utilities 8.0 11.0 -27.6 Consumer ex ITC 50.7 39.4 28.5 Automobiles ex Tata Motors 22.8 18.5 23.1 Energy ex Reliance Industries 8.0 9.0 -11.7
1 Year Forward Sector P/B Current 10y Average Premium/(discount) Pvt banks 2.8 2.5 12.6 PSU banks 1.0 1.1 -6.1 Source: FactSet, Kotak Institutional Equities, Sectors mentioned above are used to explain the concept and is for illustration purpose only and it should not be used for development or implementation of an investment strategy. It should not be construed as investment advice to any party. The stocks may or may not be part of our portfolio/strategy/ underlying scheme. 37 Earnings Are Increasing
Reported PAT for NSE 500 Quarter Annualised PAT on Dec 20 Rs in Crore
Dec 19 1,22,235 Mar 20 53,406 June 20 32,400 Sept 20 1,76,786 7,07,144 Dec 20 2,09,795* 8,39,180 TTM 4,72,387 Market Cap (28/02/21) 1,88,50,128 PE Ratio 39.9 22.5
* Highest Ever Quarterly Profit by India Inc.
Source: Bloomberg 38 Valuations Are Not As Perceived
High Nifty Valuations Conceals the bargain opportunities in select Quality stocks
P/E Company Q1FY21 Q2FY21 FY20 Q3FY21 (Annualised) FY22E (Annualised) (Annualised) Shree Cement 63.4 64.8 43.9 38.3 35.8 Ultra tech Cement 48.8 48.4 37.5 29.2 32.1 Mindtree 39.7 31.1 26.1 20.3 19.1 Asian Paints 81.4 256.7 66.3 44.7 61.3 Persistent Systems 37.8 35.7 31.5 26.5 23.9 Hero Motocorp 19.0 278.2 18.1 15.9 18.3 Bajaj Auto 22.3 53.7 24.9 18.2 20.2
The data for FY20, Q1/Q2/Q3 are actuals (annualised in the quarters) while FY22 is estimates
Source: Company data; Kotak estimates, Stocks mentioned above are used to explain the concept and is for illustration purpose only and it should not be used for development or implementation of an investment strategy. It should not be construed as investment advice to any party. The stocks may or may not be part of our portfolio/strategy/ underlying scheme. 39 Adjusted PE Shows The True Valuation
Source : ICICI Securities , Internal Analysis 40 Time To Be Neutral Weight To Equities
Marginally OW Small and Midcap
Marginally UW Large cap
Neutral Weight Equity
41 SIP has performed well
42 Patience Pays Off in SIP Kotak Emerging Equity Fund SIP Returns
Kotak Emerging Equity Fund Feb-19 Feb-20 Feb-21 10 Yr 16.30 15.67 19.43 7 Yr 16.36 15.06 17.45 5 yr 10.24 8.89 18.07 3 yr 3.24 5.26 26.47 1 yr -9.84 13.16 94.22
Benchmark Feb-19 Feb-20 Feb-21 10 Yr 12.39 9.91 14.80 7 Yr 12.12 8.67 13.70 5 yr 7.36 3.17 14.40 3 yr 0.79 -3.33 22.37 1 yr -15.72 -0.97 97.53 Source: MFi Explorer. As on 26 Feb 2021. Returns are for regular plan. Nifty Midcap 100 TRI is the benchmark for Kotak Emerging Equity Fund Disclaimer: SIP is an optional feature offered by Kotak Mahindra Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mahindra Mutual Fund. Past performance may or may not be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer43 slides for scheme information and detailed performance of the fund Patience Pays Off in SIP Kotak Tax Saver Fund SIP Returns
Kotak Tax Saver Fund Feb-19 Feb-20 Feb-21 10 Yr 11.92 11.59 14.50 7 Yr 12.27 11.63 14.06 5 yr 9.24 8.46 15.11 3 yr 6.31 5.74 20.27 1 yr -0.93 4.80 66.60
Nifty 500 TRI Feb-19 Feb-20 Feb-21 10 Yr 11.38 9.92 13.87 7 Yr 11.63 9.16 13.67 5 yr 9.03 6.58 15.25 3 yr 7.32 2.01 19.92 1 yr -4.56 -3.97 72.06 Source: MFi Explorer. As on 26 Feb 2021. Returns are for regular plan. Nifty 500 TRI is the benchmark for Kotak Tax Saver Fund Disclaimer: SIP is an optional feature offered by Kotak Mahindra Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mahindra Mutual Fund. Past performance may or may not be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to 44 disclaimer slides for scheme information and detailed performance of the fund Patience Pays Off in SIP Kotak Equity Opportunities Fund SIP Returns
Kotak Equity Opportunities Fund Feb-19 Feb-20 Feb-21 10 Yr 12.77 12.42 15.26 7 Yr 12.81 11.92 14.43 5 yr 9.23 8.85 15.40 3 yr 5.76 5.82 20.67 1 yr -3.13 7.20 65.02
Benchmark Feb-19 Feb-20 Feb-21 10 Yr 11.40 9.92 13.68 7 Yr 11.65 9.15 13.51 5 yr 9.31 6.86 15.14 3 yr 8.22 2.56 19.31 1 yr -2.74 -4.78 68.74
Source: MFi Explorer. As on 26 Feb 2021.Returns are for regular plan. Nifty 200 TRI is the benchmark for Kotak Equity Opportunities Fund Disclaimer: SIP is an optional feature offered by Kotak Mahindra Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mahindra Mutual Fund. Past performance may or may not be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for scheme information and detailed performance of the fund 45 Patience Pays Off in SIP Kotak Bluechip Fund SIP Returns
Kotak Bluechip Fund Feb-19 Feb-20 Feb-21 10 Yr 10.78 10.16 13.54 7 Yr 10.64 9.40 13.19 5 yr 7.58 6.78 14.79 3 yr 5.39 4.35 20.06 1 yr -2.82 1.08 65.28
Benchmark Feb-19 Feb-20 Feb-21 10 Yr 11.08 9.79 13.41 7 Yr 11.30 9.18 13.64 5 yr 9.58 7.72 15.70 3 yr 9.89 4.29 19.47 1 yr 1.12 -5.15 66.33 Source: MFi Explorer. As on 26 Feb 2021. Returns are for regular plan. Nifty 50 TRI is the benchmark for Kotak Bluechip Fund Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for scheme information and detailed performance of the fund 46 Equity Investment Opportunity
47 Kotak Pioneer Fund
Since 1 Year Inception(31/10/2019) Kotak Pioneer Fund - Regular Plan 55.50% 36.78% Benchmark: 85% IISL Kotak India Pioneering Innovations + 15% MSCI ACWI Information Technology Index TRI 42.30% 24.67% Nifty 50 TRI 31.37% 17.52% Less than / equal to 1 year Absolute returns, Greater than 1 year Compound Annualized returns Companies that use technology through process for enduring competitive advantage
India Basket International Diversification • Approx. 80% of portfolio invested in 35 businesses • Investing in a global fund with a similar pioneering theme – CI Signature in India Technology Fund
• Digital ecosystems • Much more than FANGM (Facebook, Amazon, Netflix, Google, Microsoft) • China + strategy for manufacturing • FANGM investment less than 5% of CI Signature Technology Fund as on Jan • Consumer discretionary 2021 • Healthcare • Investments in decentralized finance, payments, ecommerce, • Chemicals semiconductor, urban transport, social media etc.
• Fintech • The international diversification – hedge against the domestic business • Materials cycle and potential of INR depreciation against the USD over the medium term Source: ICRA. As on 26th February 2021. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of thefund. 48 Kotak Small Cap Fund
Scheme Name 1 Year 3 Year 5 Year 7 Year 10 year
Kotak Small Cap Fund - Reg - Growth 52.07 13.09 20.37 22.33 17.77
Nifty Smallcap 100 TRI 43.44 -0.17 14.12 14.88 10.45
Less than or equal to 1 year Absolute returns, Greater than 1 year Compound Annualized returns
Healthy growth in Revenue , EBITDA and PAT in investee companies in the aftermath of COVID 19 ( Q3FY21)
Sales Growth YoY% EBITDA Growth YoY% PAT Growth YoY%
Q1FY21 Q2FY21 Q3FY21 Q1FY21 Q2FY21 Q3FY21 Q1FY21 Q2FY21 Q3FY21
Kotak Small Cap Fund -24.3% 5.3% 16.7% 17.3% 26.2% 31.2% -16.3% 31.1% 33.8%
• Kotak Small Cap Fund Identifies the hidden growth potential of small cap sized companies • The essence is to 'spot them young and watch them grow'. • Kotak Small Cap Fund focus on investing in quality businesses with strong competitive edge, run by great management, generating high return on capital & offering sustainable growth with high market potential and available at reasonable valuations. Source: ICRA. As on 26th February 2021. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of thefund. 49 Kotak Asset Allocator Fund – An Effective Asset Allocation Medium To Ride The Market
Return Profile
Kotak Asset Allocator NIFTY 50 Hybrid Composite Debt 50:50 Period Fund - Growth Index Nifty 50 TRI
Since Inception 15.78% 12.21% 17.22%
Last 5 Year 14.64% 13.55% 17.29%
Last 3 Years 14.62% 11.99% 12.88%
Last 1 Years 29.28% 21.42% 31.37%
Past performance may or may not be sustained in the future. Inception date is as of Aug 09, 2004
• Higher Flexibility of allocation (0-100% in Equities) • Current equity allocation is 37%
Mutual Fund investments are subject to market risks, read all scheme related documentscarefully. Source: ICRA. As on 28th February 2021. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of thefund. 50 Debt Investors With Marginal Appetite For Equity Can Consider Investment In Kotak Debt Hybrid Fund Net Aum flows in Rs Crs over last 12 months(*) Kotak Debt Hybrid Time Horizon Fund Nifty 50 TRI Benchmark 88.5
1 Year 15.02% 31.37% 11.66% Kotak Debt Hybrid Others Total 2 Years* 13.29% 17.42% 12.06% 3 Years* 9.23% 12.88% 10.10%
5 Years* 10.46% 17.29% 10.30% -1554.0 -1465.5
* Less than or equal to 1 year Absolute returns, Greater than 1 year Compound Annualized returns As on 31st Jan 2021 Benchmark : Crisil Hybrid 85+15 – ConservativeIndex
• Fixed income component at ~75% & above. This keeps the volatility low & relatively marginal level • Equity exposure at 25% or less allows the investor to obtain the flavor of equity play without significant risk to capital • SWP can be utilized to meet “tax efficient” income requirements of the investor *Please consult your tax advisor for further details
Source: ICRA. As on 26th Feb 2021. Industry data is from AMFI and Kotak Debt Hybrid data is from CAMS. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of thefund. 51 Shift Money To Alpha Generating Large Caps
7 Years 5 Years 3 Years 1 Year Kotak Bluechip Fund – Direct Plan 16.55 16.94 12.72 26.55 Nifty 50 TRI 14.23 17.12 12.54 25.83 Less than 1 year Absolute returns, Greater than 1 year Compound Annualized returns Past performance may or may not be sustained in the future. Direct Growth option Inception Date is 1st Jan 2013. (Regular Plan Dividend Option Inception Date Dec 29, 1998)
• Kotak Bluechip Fund is flexible in its large cap themes rather than being rigid in different market scenarios.
• It continues to focus on businesses with favourable supply side dynamics
• Also focuses on capital efficiency with a reasonable track-record of capitalizing on various opportunities.
• There are broadly 4 sub-themes that fund captures now, namely Financial Savings, Moving from Lockdown to Unlock, Consumer Demand & Global Business.
Source: ICRA. As on 26th February 2021. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of thefund. 52 Should We Invest In Gold ?
53 Gold
• We have highlighted risk of import duty being reduced to our gold call
• The same has played out in this budget as import duty rationalised from 12.5% to 10%. ( 7.5 % Import Duty Plus Agriculture Cess )
• If the import duty is reduced further, to that extent there will be a drop in Rupee Gold prices instantly.
• Subject to that volatility we remain bullish Gold on a longer term basis.
• Gold has corrected in recent times for accumulation
Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. 54 Active V/S Passive Funds in Alpha Generation
55 Index Funds Underperforms Index
Fund Category 1 Year 3 Year* 5 Year*
31.30 12.90 17.30 Nifty 50 TRI Category Average 30.19 11.93 16.06 -1.11 -0.97 -1.24 Alpha
Fund Category 1 Year 3 Year* 5 Year*
S&P BSE Sensex TRI 29.90 14.20 17.90
Category Average 28.66 13.28 16.84 -1.24 -0.92 -1.06 Alpha * Less than 1 year Absolute returns, Greater than 1 year CAGR
Source: ICRA. As on 26th Feb 2021. Source: Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of the fund. 56 Active Funds Can Give Alpha
Scheme Name 1 Year (%) 3 Year (%)* 5 Year(%)* 7 Years(%)* • Active funds can’t take more than 10% Kotak Infrastructure & Economic Reform 30.92 5.38 15.7 18.41 in Fund - Dir - Growth India Infrastructure Index (Customised stocks. 30.64 2.43 10.89 8.95 Index by IISL) Alpha 0.28 2.95 4.81 9.46 • Fund has to keep Cash to meet Kotak Small Cap Fund - Dir - Growth 54.27 14.62 22.81 23.99 redemptions Nifty Smallcap 100 TRI 43.44 -0.17 15.12 14.88 Alpha 10.83 14.79 7.69 9.11 • Index changes stocks at the closing Kotak Emerging Equity Fund - Dir - Growth 38.42 13.45 22.35 24.93 price with no impact cost. Nifty Midcap 100 TRI 39.85 6.79 17.39 18.14 Alpha -1.43 6.66 4.96 6.79 • Globally Total Return Index is compared Kotak Flexicap Fund - Dir - Growth 26.14 11.92 19.69 19.05 with funds gross return i.e. expenses Nifty 200 TRI 32.14 11.35 18.26 14.98 are added back to performance .In Alpha -6.0 0.57 1.43 4.07 India TRI is compared with net return of Kotak Equity Opportunities Fund - Dir - 29.15 12.84 20.35 18.69 the fund. Growth Nifty 200 TRI 32.14 11.35 18.26 14.98 • In Insurance for eg they compare Alpha -2.99 1.49 2.09 3.71 gross return with PRI. In MF we Kotak Tax Saver Fund - Dir - Growth 28.41 13.53 19.96 18.89 compare TRI with net return. Nifty 500 TRI 33.37 10.86 18.36 15.39 Alpha -4.96 2.67 1.6 3.5 * Less than 1 year Absolute returns, Greater than 1 year CAGR Source: ICRA. As on 26th Feb 2021. Source: Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully57 . Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of the fund. Active Funds Can Give Alpha
Scheme Name 1 Year (%) 3 Year (%)* 5 Year(%)* 7 Years* Kotak India EQ Contra Fund - Dir - Growth 32.88 14.44 21.07 17.11 Nifty 100 TRI 31.1 11.91 18.26 14.68 Alpha 1.78 2.53 2.81 2.43 Kotak Bluechip Fund - Dir - Growth 31.5 13.07 18.12 16.44 Nifty 50 TRI 31.27 12.88 18.37 14.14 Alpha 0.23 0.19 -0.25 2.3 Kotak India Growth Fund - Series IV - Dir - Growth 69.03 16.02 - - Nifty 200 TRI 32.14 11.35 - - Alpha 36.89 4.67 - - Kotak Pioneer Fund - Dir - Growth 58.08 - - - 85% IISL Kotak India Pioneering Innovations + 15% MSCI 42.3 - - - ACWI Information Technology Index TRI # Alpha 15.78 - - - Kotak India Growth Fund - Series V - Dir - Growth 46.74 - - -
Nifty 200 TRI 32.14 - - - Alpha 14.6 - - -
* Less than 1 year Absolute returns, Greater than 1 year CAGR Source: ICRA. As on 26th Feb 2021. Source: Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please 58 consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of the fund. Our Funds Have Bounced From The Bottom
% change in NAV of our funds when Nifty 50 was ~7610 (From 23rd Mar 2020 till 26th Feb 2021) 130.8% 122.8%
100.1% 95.5% 90.6% 84.0% 85.3% 85.5% 86.4% 79.1%
55.4%
Kotak Balanced Kotak Equity Kotak Flexicap Kotak Tax Saver Kotak Equity Kotak Focused Kotak Bluechip Kotak India EQ Kotak Emerging Kotak Pioneer Kotak Small Advantage Hybrid Fund Fund Fund Opportunities Equity Fund Fund Contra Fund Equity Fund Fund Cap Fund Fund Fund Regular growth Plans performance
Source: MFI Explorer. As on 26th February, 2021. Past performance may or may not sustain in the future. Please consult your financial advisor orother professionals before acting on any information in this communication. Please refer to the disclaimer slides for scheme information. 59 Debt Market Outlook
March 2021
60 Liquidity is Here To Stay Market may have misread RBI Signal
INR Bn • Overnight rates will remain anchored at Reverse Repo rates, longer than what market is pricing in. 7.5 1000 • RBI aims to normalize CRR in the near-term. The CRR normalisation opens up space for a variety of market operations to inject additional liquidity which may induce curve flattening 0
7 -1000
-2000
6.5 -3000
-4000
6 -5000
-6000
5.5 -7000 India 10-Year Bond Yield (LHS) -8000 India Banking System Liquidity (RHS)
5 -9000
Jul-19 Jul-20
Jan-20 Jan-21
Jun-19 Jun-20
Oct-19 Oct-20
Apr-20
Sep-19 Feb-20 Sep-20 Feb-21
Dec-19 Dec-20
Aug-19 Aug-20
Nov-19 Nov-20
Mar-20 May-20 61
Source: Bloomberg Fear of Liquidity Withdrawal Spooked The Mid-To-Long End (~2-7years) of The Curve
India Sovereign Curve (%) 8 Opportunity of value creation exists in the longer end of the curve 7
6
5
4 01-Mar-21 31-Dec-20 30-Jun-20 3 3M 6M 1Y 2Y 3Y 4Y 5Y 6Y 7Y 8Y 10Y 11Y 12Y 13Y 14Y 15Y 23Y 30Y 40Y
• Yield Curve is now pricing in more negatives – liquidity tightening, rate hikes etc • Yields have moved up across the curve especially mid to long end of the yield curve The current yield curve is too steep enhancing the case to chase the carry in fixed income as opposed to capital gains Bond Carry Strategy: A strategy that is adopted when your yield curve is steep. One invests at that part of the curve which is cheap in valuation i.e. higher yield that is pricing in more negatives than what may actually happen. Source: Bloomberg 62 FII Activity in Debt Market
USD Mn 3,000
1,500 1,080 381 402 471 520 191 0 (142) (391) (1,500) (534) (740) (1,494) (1,434) (3,000) (2,695) (4,500)
(6,000)
(7,500)
(9,000) (8,680)
(10,500)
Jul-20
Jan-20 Jan-21
Jun-20
Oct-20
Apr-20
Feb-20 Sep-20 Feb-21
Dec-20
Aug-20
Nov-20
Mar-20 May-20 63 Source: Axis Capital Headline Inflation To Remain Range-bound, Though Marginally Above The 4% Mark In The Near Term
CPI is still likely to be above the medium-term target of 4% for most of H1-FY22, further rate cuts appear unlikely, unless the economic environment worsens significantly
8.0% CPI Core CPI 7.0%
6.0%
5.0% 5.30% 4.0%
3.0% 4.06%
2.0%
1.0%
0.0%
Jul-15 Jul-16 Jul-17 Jul-18 Jul-19 Jul-20
Jan-16 Jan-17 Jan-18 Jan-19 Jan-20 Jan-21
Sep-15 Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
Nov-15 Nov-16 Nov-17 Nov-18 Nov-19 Nov-20
Mar-15 Mar-16 Mar-17 Mar-18 Mar-19 Mar-20
May-15 May-16 May-17 May-18 May-19 May-20 • We expect a prolonged pause from the MPC in FY22 and an accommodative stance until late FY22 at least. 64 Source:Source: Bloomberg; MOSPI, RBI, ICRA Internal Research, Morgan Stanley Research RBI Remains Committed on OMO/Operation Twist To Fund Govt. Borrowing (in Rs Crores)
INR 75,000 cr OMO/Operation Twist already done post budget borrowing announcement
FY 21 (RE) FY 22 (BE)
Gross Market Borrowing 12,79,788 12,05,708
Source: CNBC
Source: indiabudget.gov.in. Internal Estimates. BE is Budgetary estimates. RE is revised Estimates. 65 SDL Spreads Close To Peak Levels, Attractive in Terms of Valuation
10yr Central Govt Gilt Yields vs 10yr SDL Yields
66 Source: RBI, Jefferies Current Spreads Look Attractive For Long Term Investors
Spread between 10year Gilt and 1year Gilt Yield: MPC’s Focus on Term Premia Is Likely To Prevent Imminent Sharp Rise In Bond Yields
300
250 211 200
150 Incremental Spreads in 10 Year provides a good cushion to shocks
100
50
0 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 67 Source: Bloomberg, Citi Research Case For Carry: Corporate Bond Spreads Show Attractive Valuation Opportunity
Bond Carry Strategy: A strategy that is adopted when your yield curve is steep. One invests at that part of the curve which is cheap in valuation i.e. higher yield that is pricing in more negatives than what may actually happen.
Corporate AAA Bond Yield (%) India Corporate Bond Curve 7.5 8.50
7 8.00 6.5 7.50 6 5.58 7.00 5.5
5 6.50
4.5 6.00
4 4.44 5.50 3.5 1 Year AAA Corporate Bond 3 Year AAA Corporate Bond 5.00 3 01-Mar-21 29-Jan-21 31-Dec-19
4.50 Mar-…
May-… 1Y 2Y 3Y 4Y 5Y 7Y 10Y
Jul-20
Jan-21
Jun-20
Oct-20
Apr-20
Sep-20 Feb-21
Dec-20
Aug-20 Nov-20 Source: Bloomberg, Jefferies 68 Market Is Pricing In More Negative News
Incremental Yield Protection for Breakeven level NABARD Yield adjusted for holding Rise in 10 yr 10 yr Nabard period Nabard (bps)
A 1 yr 4.25 After 1 yr 10 yr 7.15 2.9 0.51 7.66
B 2 yr 5.05 After 2 yr 10 yr 7.15 2.1+2.1=4.2 0.84 7.99
C 3 yr 5.6 After 3 yr 10 yr 7.15 1.55+1.55+1.55=4.55 1.03 8.18
@Assuming investment HTM in short bonds for respective holding periods. Adjusted is incremental yield for 2 yr multiplied by 2 and 3 yr by 3.
69 Source: Internal Analysis. The above illustration is not an indication of our portfolio Debt Outlook
• Liquidity is here to stay much longer than what market is fearing. • Overnight rates are expected to gradually trend higher as normalisation of rates take place over the course of next 1 year. • Fear of Liquidity withdrawal has led to sharp spike in OIS- swap yields in 1 yr at 3.92 and 2 yr at 4.35 , this effectively means forward curve is pricing in almost 3 rate hikes of 25 bp each in Repo rate for the seller of the 2 yr swap to break even. In our opinion is too soon and more than what the fundamental situation can justify purely based on inflation outlook. • Inspite of the recent spike in crude oil prices average headline inflation for FY 22 is in the band of 5-5.25%. • With comfort on inflation, reduction in gold imports, stable to appreciating INR (High Fx reserves),We believe RBI will maintain a status quo along with its accommodative stance as there is no big urgency to rush for rate hikes. • RBI while not giving OMO calendar is actually done decent amount of OMO till now and remain committed for more. As the System is flush with liquidity and FX flows coming RBI is constrained to conduct aggressive OMO and add liquidity. As the CRR cut reversal announced earlier will take out about 1.6 lac cr worth liquidity will increase the ability of the RBI to conduct outright OMO vs OT which will be more positive the long bonds • For investors, it is best to stick to intended investment horizons as volatility would continue to be order of the day. • Duration investors with appetite for volatility can look to invest in the Gilt, Bond and Dynamic Bond Funds space. • Investors looking for relatively higher YTM can consider Floating rate Fund, Medium-Term Fund and Credit Risk Fund segment. • Investors should stay invested across fixed income strategies – as “carry” assumes significance over “capital gains” 70 Debt Investment Opportunity
71 Debt Funds Have Generated Good Returns For The Patient Investors
Fund Name 3 Year Returns of Fund (%) (CAGR)
Kotak Gilt Fund 9.80%
Kotak Dynamic Bond Fund 9.21%
Kotak Banking and PSU Debt Fund 8.94%
Kotak Bond Fund 8.79%
Kotak Corporate Bond Fund 8.38%
Kotak Bond Short Term Fund 8.15%
Kotak Credit Risk Fund 7.02%
Kotak Medium Term Fund 6.50%
72 Source: MFi Explorer. Data as on 26 Feb 2021. Past performance may or may not sustain in the future. Please refer to disclaimer slides for detailed performance and scheme information of the funds Kotak Dynamic Bond Fund Has Outperformed Over Long- Term Since 2018
Rolling Returns(%) 10.50 9.15 10.00 9.50 9.00 8.50 9.28 8.00 7.50 7.00 6.50
6.00
Jul-18 Jul-19 Jul-20
Jan-20 Jan-19 Jan-21
Jun-20 Jun-19
Oct-19 Oct-20
Apr-18 Apr-19
Feb-18 Sep-18 Feb-20 Sep-20 Feb-21
Dec-18 Dec-20
Aug-18 Aug-19
Nov-18 Nov-19
Mar-19 Mar-20
May-18 May-20 Kotak Dynamic Bond Fund - Reg - Growth NIFTY Composite Debt Index**
. Credit funds carry credit risk and duration/ dynamic funds carry interest rate risk . Hence our advice to IFA/ distributors is that they allocate clients money in both dynamic and accrual funds from a 3 year perspective
Source: ICRA. As on 26th February 2021. The above returns is daily rolling returns for last 36months. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please refer to the disclaimer slides for detailed performance of the fund 73 Kotak Medium Term Fund
Incremental Earnings Fund YTM (As on 26 Feb 2021) Respective Segment Yields (Spread) Kotak Medium Term Fund 6.99 % 3 Year AA 5.74 % 1.25 %
26-Feb-2021 Average Maturity (Years) Modified Duration (Years) Macaulay Duration (Years) 3.78 2.63 2.81
• Duration of the fund has come down as we expect normalisation of rates to take place over the course of next 1 year. We see merit in running lower duration in Medium Term Fund.
• We believe Kotak Medium Term fund is a reasonably attractive investment option for investors with minimum 1 year investment horizon.
Mutual fund investment are subject to market risks, read all scheme related documents carefully. 74 Source: Bloomberg. Data as on 26-Feb-2021. Past performance may or may not sustain in the future. Please refer to the disclaimer slides for performance details & scheme information Attractive Yields Across The Segment
Incremental Incremental Incremental Spread: Spread: Spread: 0.61% 0.61% 8 0.69% 6.99 6.99 7 6.38 6.38 6 5 4.58 3.89 4 3 2 1 1 Year 3 Year 3 Year OIS AA AA 0 Kotak Low Duration Fund Kotak Credit Risk Fund Kotak Medium Term Fund YTM (%) (As on 26 Feb 21) Respective Segment Yields (%)*
Mutual fund investment are subject to market risks, read all scheme related documents carefully. Source: Bloomberg. Data as on 26 Feb 2021. Past performance may or may not sustain in the future. Please refer to the disclaimer slides for scheme details 75 Distributor Engagement
76 Prostart – Video Learning Platform
Over 25,000 Participants 1.FINANCIAL PLANNING (10 VIDEOS) have viewed these Videos. 2.SOCIAL MEDIA MARKETING (14 VIDEOS) (Till Feb 2021.) 3.UNDERSTANDING RISK IN MF’S (5 VIDEOS) Testimonials 4.TAXATION IN MF’S (2 VIDEOS) 5.NEW NORMAL (1 VIDEOS) “Good Initiative developed by Kotak MF to enhance knowledge & 6.MAXIMIZING DIGITAL CONNECTIONS (2 VIDEOS) practical approach for MFDs”. 7.HANDLING INVESTOR EMOTIONS (4 VIDEOS) -Md Qaise Ghazali 8.ACQUIRING NEW CLIENTS (3 VIDEOS) “Very Knowledgeable. Thank You 9.THE NEXT WAVE (3 VIDEOS) Kotak MF Team” –Vikas Jain 10.DEBT DEMYSTIFIED (12 VIDEOS)
77 Don't miss out on the benefits of Business Hub
Business opportunities More than 13574 IFA’s are actively using Business Hub Co-branding Marketing Material
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78 Stay Updated ! Follow us at Kotak Mutual Fund Click here to visit our YouTube Channel
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80 ANNEXURES
81 Kotak MF Mantra: ‘Return of Capital’ is more important
Strong Promoters, Cashflow backed business, Liquidity, and Asset Security are key to our investment ideas
82 Rating & Category Breakup Across Kotak MF Open-Ended Debt Funds
We follow our investment process of focussing on credit quality and liquidity profile of our debt funds and maintain high degree of transparency for investors. • At Kotak MF, we have zero borrowing across all our funds as on 26 Feb 2021
Feb-21 April-20
Credit Rating of Open-Ended Debt Funds % of Total AUM % of Total AUM
Tbill/G-Sec/SDL/AAA/A1+/Cash/ 93.93 92.81 AA+ 2.28 1.65 AA 2.48 2.90 AA- 0.87 1.42 Below AA- 0.43 1.22 Grand Total (AUM) (INR Cr) 118,958.80 78,624
The above rating allocation does not include NCA (Net Current Assets) It is the prerogative of the fund manager to ascertain whether any security provides investment benefit to the fund and is in keeping with the larger investment goal, strategy and the investment & operational mandate of the fund. As such the fund manager may or may not choose to invest in a particular credit paper. The portfolio construction is the purview of the Fund Manager and allocation may change from time to time. Internal Source. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Data As on 26 Feb 2021 Please consult your financial advisor or other professionals before acting on any information in this communication 83 Liquidity Position Of Kotak MF Debt Funds As said earlier, our incremental allocation has gone into higher quality assets
% of AUM in AAA (Long Term) or % of AUM in AAA (Long Term) or Name of the Fund Fund Category A1+ (Short Term), Sovereign Debt, A1+ (Short Term), Sovereign Debt, Cash & NCA (Dec 2020) Cash & NCA (Apr 2020) Non-Credit Strategies Kotak Liquid Fund Liquid 100 100 Kotak Money Market Fund Money Market 100 100 Kotak Corporate Bond Fund Corporate Bond 100 100 Kotak Bond Short Term Fund Short Duration 100 100 Kotak Bond Fund Medium to Long Duration 96 86 Kotak Dynamic Bond Fund Dynamic Bond 92 85 Kotak Savings Fund Ultra Short Duration 91 87 Kotak Banking and PSU Debt Banking and PSU 88 79 Fund Kotak Low Duration Fund Low Duration 85 52 Credit Strategies Kotak Medium Term Fund Medium Duration 63 50 Kotak Credit Risk Fund Credit Risk 36 27 The above rating allocation includes NCA (Net Current Assets)
As on 26 Feb 2021.It is the prerogative of the fund manager to ascertain whether any security provides investment benefit to the fund and is in keeping with the larger investment goal, strategy and the investment & operational mandate of the fund. As such the fund manager may or may not choose to invest in a particular credit paper. The portfolio construction is the purview of the Fund Manager and allocation may change from time to time. Internal Source. Please refer to the disclaimer slides for scheme details 84 Mutual fund investments are subject to market risks, read all scheme related documents carefully. Key Variables & Their Impact On Interest Rates Short Term Medium Term Key Variables Remarks –( Denotes fall in Interest Rates ) (3-6mo) (6mo-2yrs) Headline CPI is expected to be in the range of 4-5% for the year. Despite expansion of the fiscal deficit the quality of Inflation spending appears to be non inflationary. Inflation is unlikely to be area of problem in the year.
INR has been quite strong since last 3m curtsey strong FDI and FPI flows in equity. Lat 1 yr also its marginally depreciated. We have FX reserves closes to 600 bn and given CAD and TD under control INR is expected to remain well Rupee bid. We believe in the absence of any geo political event, INR is expected to be stable and shall appreciate as economic growth stabilizes. RBI is keeping INR competitive on REER basis. Gradually economy is opening up and Credit growth is expected to pickup as unlocking activity resumes and gains Credit Demand momentum post vaccination in phases. However situation is fragile and this may accentuate the situation further. However, easy rates may help some demand pickup. Till then, credit growth will not impact rates negatively. Union budget has shocked the market by giving 80 extra borrowing for the current year in dated securities. Next year also borrowing is on heavier side. However we believe the govt /RBI may have some credible plan to conduct the Government Borrowing borrowing smoothly. As the budget is non inflationary and otherwise also inflation is under control there is no reason for govt to give so high real rates hence we believe the RBI will pull some demand leveres such as index inclusion or OMO. Will have to wait for MPC. Rbi has shown commitment in the past and there is no reason for taking the rates higher hence we believe RBI is RBI Policy expected to come up with some credible plan. If they leave it to the market then we are headed for a tough time. The News of a Vaccine has triggered a risk-on event and lead to a sharp rally in risk asset and bonds were sold off. Global Event Risk However, yields will look for growth which may not come in a hurry. On the other hand the risk of a geopolitical event is always open. While some green shoots seen but on an over all basis the economy is still struggling. Short term spreads have seen Corporate bond Spread decent compression, unlikely to compress further meaningfully. Long terms bonds still offer attractive spreads but likely just a carry trade. We have seen some traction coming in near term with revival of flows from the FPI in debt. However its seems real Debt FII flow flows will only be seen with index inclusion. Despite very high liquidity more than 1 yr yield is moving higher as the fear is RBI will remove accommodation sooner than later. However we believe large part of the move is done 2-10 yr curve. Liquidity 85 Key Variables & Their Impact On Equities
Short - Medium – Key Variables Remarks term term
While Covid-19 impacts economy, there is likely to be sequential Economy improvement as Indian economy unlocks
While Covid-19 impacts corporate India, there is likely to be sequential Corporate Earnings improvement as Indian economy unlocks
India stands out among global asset classes with prospects of strong FII Flow long term growth given favorable demographics
DII Flow Long runaway of growth in financialization of savings
Higher disinvestment target and repair of leveraged balance sheet to Supply of paper create supply in markets
Policy/Reform Initiative Expect improved reform momentum
Signify Growth 86 Disclaimers & Disclosures
87 Disclaimers & Risk Factors
The information contained in this (document) is extracted from different public sources. All reasonable care has been taken to ensure that the information contained herein is not misleading or untrue at the time of publication. This is for the information of the person to whom it is provided without any liability whatsoever on the part of Kotak Mahindra Asset Management Co Ltd or any associated companies or any employee thereof.We are not soliciting any action based on this material and is for general information only. Investors should consult their financial advisors if in doubt about whether the product is suitable for them before investing
These materials are not intended for distribution to or use by any person in any jurisdiction where such distribution would be contrary to local law or regulation. The distribution of this document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come into possession of this document are required to inform themselves about, and to observe, any such restrictions
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
88 Kotak Dynamic Bond Fund As on 26 Feb 2021
Kotak Dynamic Bond NIFTY Composite Debt Kotak Dynamic Bond NIFTY Composite Debt May 26, 2008 ALPHA CRISIL 1 Year TBill ## CRISIL 1 Year TBill ## Fund - Growth Index # Fund - Growth Index #
Since Inception 8.60% 8.46% 0.14% 6.48% 28,659 28,180 22,287 Last 1 Year 6.85% 7.90% -1.05% 5.47% 10,683 10,788 10,546 Last 3 Years 9.21% 9.34% -0.13% 6.65% 13,022 13,068 12,127 Last 5 Years 9.12% 8.68% 0.44% 6.56% 15,470 15,161 13,739
Scheme Inception date is 26/05/2008. Mr. Deepak Agrawal has been managing the fund since 25/11/2012. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return.
Kotak Banking & PSU Debt Fund As on 26 Feb 2021
Kotak Banking and PSU CRISIL Banking and PSU Kotak Banking and PSU CRISIL Banking and PSU Dec 29, 1998 ALPHA CRISIL 1 Year Tbill ## CRISIL 1 Year TBill ## Debt Fund - Growth Debt Index # Debt Fund - Growth Debt Index #
Since Inception 7.53% NA NA 6.62% 50,043 NA 41,450 Last 1 Year 7.44% 6.32% 1.12% 5.47% 10,742 10,630 10,546 Last 3 Years 8.94% 8.68% 0.26% 6.65% 12,926 12,834 12,127 Last 5 Years 8.46% 8.54% -0.08% 6.56% 15,006 15,064 13,739 Scheme Inception date is 29/12/1998. Mr. Deepak Agrawal has been managing the fund since 01/08/2008. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return. 89 Kotak Low Duration Fund As on 26 Feb 2021
Kotak Low Duration NIFTY Low Duration Kotak Low Duration NIFTY Low Duration Mar 06, 2008 ALPHA CRISIL 1 Year TBill ## CRISIL 1 Year TBill ## Fund - Growth Debt Index # Fund - Growth Debt Index #
Since Inception 7.69% 8.27% -0.58% 6.48% 26,178 28,053 22,605 Last 1 Year 6.69% 5.94% 0.75% 5.47% 10,667 10,592 10,546 Last 3 Years 7.60% 7.23% 0.37% 6.65% 12,455 12,326 12,127 Last 5 Years 7.74% 7.35% 0.39% 6.56% 14,514 14,256 13,739
Scheme Inception date is 06/03/2008. Mr. Deepak Agrawal has been managing the fund since 01/02/2015. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return.
Kotak Bond Fund As on 26 Feb 2021
Kotak Bond Fund - NIFTY Medium to Long Kotak Bond Fund - NIFTY Medium to Long Nov 25, 1999 ALPHA CRISIL 10 Year Gilt ## CRISIL 10 Year Gilt ## Growth Duration Debt Index # Growth Duration Debt Index #
Since Inception 8.78% NA NA NA 59,893 NA NA Last 1 Year 6.72% 7.65% -0.93% 4.93% 10,670 10,763 10,492 Last 3 Years 8.79% 9.12% -0.33% 8.94% 12,872 12,990 12,927 Last 5 Years 8.00% 8.59% -0.58% 7.34% 14,692 15,093 14,246 Scheme Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return. 90 Kotak Bond Short Term Fund on 26 Feb 2021
Kotak Bond Short Term NIFTY Short Duration Kotak Bond Short Term NIFTY Short Duration May 02, 2002 ALPHA CRISIL 1 Year TBill ## CRISIL 1 Year TBill ## Fund - Growth Debt Index # Fund - Growth Debt Index #
Since Inception 7.72% 7.93% -0.21% 6.07% 40,606 42,094 30,324 Last 1 Year 7.20% 7.97% -0.77% 5.47% 10,718 10,794 10,546 Last 3 Years 8.15% 8.28% -0.13% 6.65% 12,648 12,692 12,127 Last 5 Years 7.85% 8.08% -0.24% 6.56% 14,585 14,746 13,739 Scheme Inception date is 02/05/2002. Mr. Deepak Agrawal has been managing the fund since 11/07/2007. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return.
Kotak Corporate Bond Fund on 26 Feb 2021
Kotak Corporate Bond CRISIL Corporate Bond Kotak Corporate Bond CRISIL Corporate Bond Sep 21, 2007 ALPHA CRISIL 1 Year TBill ## CRISIL 1 Year TBill ## Fund - Growth Composite Index # Fund - Growth Composite Index #
Since Inception 8.18% 9.39% -1.20% 6.45% 28,790 33,407 23,163 Last 1 Year 7.41% 7.93% -0.52% 5.47% 10,739 10,791 10,546 Last 3 Years 8.38% 8.94% -0.57% 6.65% 12,726 12,927 12,127 Last 5 Years 8.30% 8.85% -0.55% 6.56% 14,898 15,277 13,739 Scheme Inception date is 21/09/2007. Mr. Deepak Agrawal has been managing the fund since 01/02/2015. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return. 91 Kotak Credit Risk Fund As on 26 Feb 2021
Kotak Credit Risk Fund - NIFTY Credit Risk Bond Kotak Credit Risk Fund - NIFTY Credit Risk Bond May 11, 2010 ALPHA CRISIL 1 Year TBill ## CRISIL 1 Year TBill ## Growth Index # Growth Index # Since Inception 8.08% 9.30% -1.21% 6.71% 23,159 26,128 20,167 Last 1 Year 4.55% 9.87% -5.32% 5.47% 10,453 10,984 10,546 Last 3 Years 7.02% 9.00% -1.98% 6.65% 12,253 12,946 12,127 Last 5 Years 7.55% 9.00% -1.45% 6.56% 14,384 15,380 13,739 Scheme Inception date is 11/05/2010. Mr. Deepak Agrawal has been managing the fund since 12/04/2010.. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return.
Kotak Medium Term Fund As on 26 Feb 2021
Kotak Medium Term NIFTY Medium Duration Kotak Medium Term NIFTY Medium Duration Mar 21, 2014 ALPHA CRISIL 10 Year Gilt ## CRISIL 10 Year Gilt ## Fund - Growth Debt Index # Fund - Growth Debt Index # Since Inception 8.12% 9.00% -0.88% 8.26% 17,192 18,192 17,350 Last 1 Year 4.56% 8.73% -4.17% 4.93% 10,455 10,871 10,492 Last 3 Years 6.50% 9.02% -2.52% 8.94% 12,078 12,954 12,927 Last 5 Years 7.30% 8.63% -1.33% 7.34% 14,218 15,121 14,246
Scheme Inception date is 21/03/2014. Mr. Deepak Agrawal has been managing the fund since 22/06/2015... Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return. 92 Kotak Balanced Advantage Fund Performance as on 26 Feb 2021
Kotak Balanced NIFTY 50 Hybrid Kotak Balanced NIFTY 50 Hybrid Aug 03, 2018 Advantage Fund - Composite Debt 50:50 ALPHA Nifty 50 TRI ## Advantage Fund - Composite Debt 50:50 Nifty 50 TRI ## Growth Index # Growth Index # Since Inception 10.92% 11.67% -0.75% 11.30% 13,052 13,281 13,166 Last 1 Year 18.49% 21.42% -2.92% 31.37% 11,844 12,135 13,127 Last 3 Years NA NA NA NA NA NA NA Last 5 Years NA NA NA NA NA NA NA
Scheme Inception date is 03/08/2018. Mr. Harish Krishnan, Mr. Abhishek Bisen have been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Alpha is difference of scheme return with benchmark return Kotak Debt Hybrid Fund Performance as on 26 Feb 2021
Kotak Debt Hybrid Fund - CRISIL Hybrid 85+15 - Kotak Debt Hybrid Fund - CRISIL Hybrid 85+15 - Dec 02, 2003 ALPHA CRISIL 10 Year Gilt ## CRISIL 10 Year Gilt ## Growth Conservative Index # Growth Conservative Index # Since Inception 8.09% 8.55% -0.45% 5.82% 38,280 41,141 26,537 Last 1 Year 15.02% 11.66% 3.36% 4.93% 11,497 11,162 10,492 Last 3 Years 9.23% 10.10% -0.86% 8.94% 13,030 13,341 12,927 Last 5 Years 10.46% 10.30% 0.17% 7.34% 16,443 16,319 14,246
Scheme Inception date is 02/12/2003. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. Mr. Devender Singhal has been managing the fund since 25/08/2015. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return. TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006. Alpha is difference of scheme return with benchmark return. 93 Kotak Asset Allocator Fund as on 26 Feb 2021
NIFTY 50 Hybrid NIFTY 50 Hybrid Kotak Asset Allocator Kotak Asset Allocator Aug 09, 2004 Composite Debt 50:50 ALPHA S&P BSE SENSEX TRI ## Composite Debt 50:50 S&P BSE SENSEX TRI ## Fund - Growth Fund - Growth Index # Index # Since Inception 15.78% 12.21% 3.57% 15.79% 113,266 67,426 113,398 Last 1 Year 29.28% 21.42% 7.86% 30.00% 12,919 12,135 12,990 Last 3 Years 14.62% 11.99% 2.62% 14.22% 15,051 14,043 14,894 Last 5 Years 14.64% 13.55% 1.09% 17.89% 19,793 18,868 22,764 Scheme Inception date is 09/08/2004. Mr. Devender Singhal & Mr. Arjun Khanna has been managing the fund since 09/05/2019. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006. Alpha is difference of scheme return with benchmark return. Kotak Gilt Fund As on 26 Feb 2021
Kotak Gilt Fund - NIFTY All Duration G-Sec Kotak Gilt Fund - NIFTY All Duration G-Sec Dec 29, 1998 ALPHA CRISIL 10 Year Gilt ## CRISIL 10 Year Gilt ## Growth Index # Growth Index # Since Inception 9.51% NA NA NA 74,952 NA NA Last 1 Year 7.68% 6.41% 1.28% 4.93% 10,766 10,639 10,492 Last 3 Years 9.80% 10.01% -0.21% 8.94% 13,234 13,311 12,927 Last 5 Years 8.92% 8.48% 0.44% 7.34% 15,325 15,020 14,246 Scheme Inception date is 29/12/1998. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return.
94 Kotak Pioneer Fund as on 26 Feb 2021
85% IISL Kotak India 85% IISL Kotak India Pioneering Innovations Pioneering Innovations Kotak Pioneer Fund - Kotak Pioneer Fund - Oct 31, 2019 + 15% MSCI ACWI ALPHA Nifty 50 TRI ## + 15% MSCI ACWI Nifty 50 TRI ## Growth Growth Information Technology Information Technology Index TRI # Index TRI #
Since Inception 36.78% 24.67% 12.11% 17.52% 15,149 13,397 12,386 Last 1 Year 55.50% 42.30% 13.20% 31.37% 15,531 14,216 13,127 Last 3 Years NA NA NA NA NA NA NA Last 5 Years NA NA NA NA NA NA NA Scheme Inception date is 31/10/2019. Mr. Harish Krishnan & Mr. Arjun Khanna has been managing the fund since 31/10/2019. Different plans have different expense structure. The performance details provided herein are of regular plan Past performance may or may not be sustained in future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return. Kotak Infrastructure & Economic Reform Fund as on 26 Feb 2021 Kotak Infrastructure and India Infrastructure Index Kotak Infrastructure and India Infrastructure Index Feb 25, 2008 Economic Reform Fund - (Customised Index by IISL) ALPHA Nifty 50 TRI ## Economic Reform Fund - (Customised Index by IISL) Nifty 50 TRI ## Growth # Growth # Since Inception 7.19% 1.33% 5.86% 9.51% 24,675 11,876 32,619 Last 1 Year 29.40% 30.64% -1.24% 31.37% 12,931 13,054 13,127 Last 3 Years 4.05% 2.43% 1.62% 12.88% 11,265 10,746 14,378 Last 5 Years 13.32% 10.89% 2.43% 17.29% 18,676 16,760 22,189 Scheme Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 01/02/2015. Different plans have different expense structure. The performance details provided herein are of regular plan
Past performance may or may not be sustained in future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).95 Alpha is difference of scheme return with benchmark return. Kotak India Growth Fund Series IV as on 26 Feb 2021
Kotak India Growth Fund - Kotak India Growth Fund - Feb 20, 2018 Nifty 200 TRI # ALPHA Nifty 50 TRI ## Nifty 200 TRI # Nifty 50 TRI ## Series IV - Growth Series IV - Growth
Since Inception 14.62% 11.73% 2.89% 13.28% 15,099 13,979 14,570 Last 1 Year 66.67% 32.24% 34.43% 31.37% 16,644 13,214 13,127 Last 3 Years 14.71% 11.35% 3.35% 12.88% 15,087 13,803 14,378 Last 5 Years NA NA NA NA NA NA NA Scheme Inception date is 20/02/2018. Mr. Devender Singhal has been managing the fund since 09/05/2019. Different plans have different expense structure. The performance details provided herein are of regular plan Past performance may or may not be sustained in future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Alpha is difference of scheme return with benchmark return.
Kotak India Growth Fund Series V as on 26 Feb 2021
Kotak India Growth Fund - Kotak India Growth Fund - May 15, 2018 Nifty 200 TRI # ALPHA Nifty 50 TRI ## Nifty 200 TRI # Nifty 50 TRI ## Series V - Growth Series V - Growth
Since Inception 13.89% 11.46% 2.43% 12.65% 14,372 13,534 13,939 Last 1 Year 46.61% 32.24% 14.37% 31.37% 14,646 13,214 13,127 Last 3 Years NA NA NA NA NA NA NA Last 5 Years NA NA NA NA NA NA NA Scheme Inception date is 15/05/2018. Mr. Harish Krishnan has been managing the fund since 15/05/2018. Different plans have different expense structure. The performance details provided herein are of regular plan Past performance may or may not be sustained in future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Alpha is difference of scheme return with benchmark return. 96 Kotak Smallcap Fund Performance as on 26 Feb 2021
Kotak Smallcap Fund - Kotak Smallcap Fund - Feb 24, 2005 NIFTY Smallcap 100 TRI # ALPHA Nifty 50 TRI ## NIFTY Smallcap 100 TRI # Nifty 50 TRI ## Growth Growth
Since Inception 16.48% 12.74% 3.75% 14.40% 115,182 68,229 86,309 Last 1 Year 52.24% 43.58% 8.66% 31.37% 15,207 14,344 13,127 Last 3 Years 13.09% -0.17% 13.26% 12.88% 14,460 9,950 14,378 Last 5 Years 20.40% 14.19% 6.22% 17.29% 25,291 19,406 22,189 Scheme Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.
Kotak Smallcap Fund Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year Total amount invested (Rs) 1,930,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on February 26, 2021 (Rs) 8,187,177 3,266,871 1,617,790 1,001,229 576,604 190,906 Scheme Returns (%) 16.20 19.05 18.43 20.67 33.31 128.08 NIFTY Smallcap 100 (TRI) Returns (%) 10.48 11.59 10.36 11.61 21.74 121.78 Alpha* 5.72 7.46 8.08 9.05 11.58 6.30 NIFTY Smallcap 100 (TRI) (Rs)# 4,794,025 2,190,608 1,213,472 802,393 493,594 187,746 Nifty 50 (TRI) (Rs)^ 5,809,863 2,412,890 1,363,994 887,303 478,297 158,761 Nifty 50 (TRI) Returns (%) 12.56 13.41 13.64 15.70 19.47 66.33 Scheme Inception : - February 24,2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI K Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return. 97 Kotak Flexicap Fund (Erstwhile Kotak Standard Multicap Fund) Performance as on 26 Feb 2021
Kotak Flexi Cap Fund - Kotak Flexi Cap Fund - Sep 11, 2009 Nifty 200 TRI # ALPHA Nifty 50 TRI ## Nifty 200 TRI # Nifty 50 TRI ## Growth Growth Since Inception 13.91% 11.56% 2.35% 11.40% 44,527 35,062 34,492 Last 1 Year 24.97% 32.24% -7.27% 31.37% 12,489 13,214 13,127 Last 3 Years 10.82% 11.35% -0.54% 12.88% 13,604 13,803 14,378 Last 5 Years 17.38% 17.19% 0.20% 17.29% 22,274 22,089 22,189 Scheme Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.
Kotak Flexi Cap Fund (Previously known as Kotak Select Standard Multi Cap Fund) Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year Total amount invested (Rs) 1,380,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on February 26, 2021 (Rs) 3,453,492 2,729,977 1,380,165 856,388 468,086 156,611 Scheme Returns (%) 15.05 15.71 13.97 14.26 17.92 62.40 Nifty 200 (TRI) Returns (%) 12.88 13.68 13.51 15.14 19.31 68.74 Alpha* 2.18 2.04 0.45 -0.88 -1.39 -6.34 Nifty 200 (TRI) (Rs)# 3,011,611 2,447,722 1,358,050 875,181 477,275 160,074 Nifty 50 (TRI) (Rs)^ 2,974,930 2,412,890 1,363,994 887,303 478,297 158,761 Nifty 50 (TRI) Returns (%) 12.68 13.41 13.64 15.70 19.47 66.33 Scheme Inception : - September 11, 2009. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI K Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return. 98 Kotak Emerging Equity Fund Performance As on 26 Feb 2021
Kotak Emerging Equity Kotak Emerging Equity Mar 30, 2007 Nifty Midcap 100 TRI # ALPHA Nifty 50 TRI ## Nifty Midcap 100 TRI # Nifty 50 TRI ## Fund - Growth Fund - Growth Since Inception 13.20% 13.32% -0.12% 11.38% 56,228 57,054 44,823 Last 1 Year 36.76% 39.98% -3.22% 31.37% 13,664 13,985 13,127 Last 3 Years 12.07% 6.79% 5.28% 12.88% 14,070 12,177 14,378 Last 5 Years 19.97% 16.24% 3.72% 17.29% 24,836 21,217 22,189 Scheme Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.
Kotak Emerging Equity Fund Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year Total amount invested (Rs) 1,680,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on February 26, 2021 (Rs) 6,176,383 3,334,607 1,562,085 940,171 526,485 173,627 Scheme Returns (%) 17.05 19.43 17.45 18.07 26.47 94.22 Nifty Midcap 100 (TRI) Returns (%) 13.88 14.80 13.70 14.40 22.37 97.53 Alpha* 3.16 4.63 3.75 3.68 4.10 -3.32 Nifty Midcap 100 (TRI) (Rs)# 4,795,200 2,599,125 1,367,070 859,342 497,885 175,354 Nifty 50 (TRI) (Rs)^ 4,226,246 2,412,890 1,363,994 887,303 478,297 158,761 Nifty 50 (TRI) Returns (%) 12.29 13.41 13.64 15.70 19.47 66.33 Scheme Inception : - March 30, 2007. The returns are calculated by XIRR approach assuming investment of 10,000/- on the ` 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI K Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.
99 Kotak Tax Saver Fund Performance as on 26 Feb 2021
Kotak Tax Saver Fund - Kotak Tax Saver Fund - Nov 23, 2005 Nifty 500 TRI # ALPHA Nifty 50 TRI ## Nifty 500 TRI # Nifty 50 TRI ## Growth Growth
Since Inception 12.17% 13.03% -0.85% 13.28% 57,797 64,882 67,113 Last 1 Year 26.85% 33.47% -6.62% 31.37% 12,677 13,337 13,127 Last 3 Years 12.19% 10.86% 1.33% 12.88% 14,116 13,621 14,378 Last 5 Years 17.41% 17.31% 0.10% 17.29% 22,304 22,207 22,189
Scheme Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.
Kotak Tax Saver Fund Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year Total amount invested (Rs) 1,840,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on February 26, 2021 (Rs) 5,208,479 2,557,585 1,384,584 874,589 483,657 158,907 Scheme Returns (%) 12.51 14.50 14.06 15.11 20.27 66.60 Nifty 500 (TRI) Returns (%) 12.44 13.87 13.67 15.25 19.92 72.06 Alpha* 0.07 0.63 0.38 -0.14 0.35 -5.46 Nifty 500 (TRI) (Rs)# 5,177,617 2,472,906 1,365,740 877,640 481,312 161,867 Nifty 50 (TRI) (Rs)^ 5,074,950 2,412,890 1,363,994 887,303 478,297 158,761 Nifty 50 (TRI) Returns (%) 12.21 13.41 13.64 15.70 19.47 66.33 Scheme Inception : - November 23, 2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI K Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return. 100 Kotak Equity Opportunities Fund Performance as on 26 Feb 2021
Kotak Equity Kotak Equity Sep 09, 2004 Opportunities Fund - Nifty 200 TRI # ALPHA Nifty 50 TRI ## Opportunities Fund - Nifty 200 TRI # Nifty 50 TRI ## Growth Growth Since Inception 18.31% 15.37% 2.94% 15.55% 159,694 105,534 108,232 Last 1 Year 27.71% 32.24% -4.53% 31.37% 12,762 13,214 13,127 Last 3 Years 11.58% 11.35% 0.23% 12.88% 13,887 13,803 14,378 Last 5 Years 17.91% 17.19% 0.72% 17.29% 22,776 22,089 22,189 Scheme Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.
Kotak Equity Opportunities Fund Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year Total amount invested (Rs) 1,980,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on February 26, 2021 (Rs) 7,635,338 2,664,264 1,403,160 880,871 486,395 158,045 Scheme Returns (%) 14.78 15.26 14.43 15.40 20.67 65.02 Nifty 200 (TRI) Returns (%) 12.81 13.68 13.51 15.14 19.31 68.74 Alpha* 1.97 1.58 0.92 0.26 1.36 -3.73 Nifty 200 (TRI) (Rs)# 6,308,482 2,447,722 1,358,050 875,181 477,275 160,074 Nifty 50 (TRI) (Rs)^ 6,292,270 2,412,890 1,363,994 887,303 478,297 158,761 Nifty 50 (TRI) Returns (%) 12.79 13.41 13.64 15.70 19.47 66.33 Scheme Inception : - September 09, 2004. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.
101 Kotak Bluechip Fund Performance as on 26 Feb 2021
Kotak Bluechip Fund - Kotak Bluechip Fund - Feb 04, 2003 Nifty 50 TRI # ALPHA S&P BSE SENSEX TRI ## Nifty 50 TRI # S&P BSE SENSEX TRI ## Growth Growth Since Inception 19.67% 17.22% 2.46% 17.38% 256,865 176,573 181,028 Last 1 Year 30.07% 31.37% -1.30% 30.00% 12,998 13,127 12,990 Last 3 Years 11.81% 12.88% -1.07% 14.22% 13,975 14,378 14,894 Last 5 Years 15.75% 17.29% -1.54% 17.89% 20,767 22,189 22,764 Since inception date of Kotak Bluechip Fund - Reg Growth is 4/02/2003. Mr. Harish Krishnan has been managing the fund since 01/01/2014.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007 and TRI Values since 31st May 2007. Since Inception date of Kotak Bluechip Fund- Dividend plan is 29/12/1998. Alpha is difference of scheme return with benchmark return
Kotak Bluechip Fund Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year Total amount invested (Rs) 2,170,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on February 26, 2021 (Rs) 9,909,049 2,429,408 1,342,358 867,738 482,271 158,190 Scheme Returns (%) 14.97 13.54 13.19 14.79 20.06 65.28 Nifty 50 (TRI) Returns (%) 13.93 13.41 13.64 15.70 19.47 66.33 Alpha* 1.03 0.13 -0.45 -0.91 0.59 -1.05 Nifty 50 (TRI) (Rs)# 8,857,197 2,412,890 1,363,994 887,303 478,297 158,761 S&P BSE SENSEX (TRI) (Rs)^ 9,110,194 2,472,879 1,393,707 907,359 481,833 157,647 S&P BSE SENSEX (TRI) Returns (%) 14.19 13.87 14.24 16.62 20.00 64.29 Scheme Inception : - December 29, 1998. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI K Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). As TRI data is not available since inception of the scheme, benchmark SIP Performance is calculated by taking S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007 and TRI Values since 31st May 2007. Alpha is difference of scheme return with benchmark return 102 Kotak India EQ Contra Fund as on 26 Feb 2021
Kotak India EQ Contra Kotak India EQ Contra Jul 27, 2005 Nifty 100 TRI # ALPHA Nifty 50 TRI ## Nifty 100 TRI # Nifty 50 TRI ## Fund - Growth Fund - Growth
Since Inception 13.21% 14.08% -0.88% 13.88% 69,209 78,041 75,924 Last 1 Year 31.23% 31.20% 0.03% 31.37% 13,113 13,110 13,127 Last 3 Years 12.93% 11.91% 1.02% 12.88% 14,396 14,010 14,378 Last 5 Years 18.30% 17.19% 1.10% 17.29% 23,155 22,098 22,189 Scheme Inception date is 27/07/2005. Ms. Shibani Kurian has been managing the fund since 09/05/2019. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.
Kotak India EQ Contra Fund Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year Total amount invested (Rs) 1,880,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on February 26, 2021 (Rs) 5,753,810 2,581,589 1,412,974 907,013 487,708 163,570 Scheme Returns (%) 13.09 14.67 14.63 16.60 20.87 75.22 Nifty 100 (TRI) Returns (%) 12.68 13.63 13.51 15.19 18.91 65.26 Alpha* 0.41 1.04 1.12 1.41 1.95 9.96 Nifty 100 (TRI) (Rs)# 5,543,589 2,441,380 1,357,611 876,201 474,636 158,175 Nifty 50 (TRI) (Rs)^ 5,371,562 2,412,890 1,363,994 887,303 478,297 158,761 Nifty 50 (TRI) Returns (%) 12.33 13.41 13.64 15.70 19.47 66.33 Scheme Inception : - July 27,2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI K Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return 103 Other Funds Managed by Mr. Deepak Agarwal
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak Floating Rate Fund - Growth 8.08 5.14 NA NA NA NA 7.72 6.10 Top 3 Kotak Banking and PSU Debt Fund - Growth 7.44 6.32 8.94 8.68 8.46 8.54 7.53 NA Kotak Savings Fund - Growth 5.24% 5.14% 6.84% 6.96% 7.05% 7.16% 7.60% 7.97% Kotak Money Market Fund - Growth 5.20% 4.71% 6.92% 6.38% 6.99% 6.72% 7.28% 7.42% Bottom 3 Kotak Liquid Fund - Growth 3.77 3.88 5.77 5.82 6.27 6.24 7.15 7.17 Kotak Overnight Fund - Growth 2.96 3.12 NA NA NA NA 4.29 4.43
Mr. Deepak Agrawal manages 12 funds & All FMPs of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. (Kotak Bond Short Term Fund (May. 02, 02), Kotak Dynamic Bond Fund (May. 26, 08), Kotak Money Market Fund (Nov. 25, 07), Kotak Liquid Fund (Nov. 04, 03), Kotak Banking and PSU Debt Fund (Dec. 29, 98), Kotak Savings Fund (Jul. 11, 07), Kotak Credit Risk Fund (May 11, '10), Kotak Medium Term Fund (Mar. 21, 14), Kotak Low Duration Fund (Jan. 31, 15), Kotak Corporate Bond Fund (Sep. 21, 07), Kotak Overnight Fund (Jan. 15, 19) All Fixed Maturity Plans in existence (Aug. 13,'15), Kotak Floating Fund (May. 14, 2019). Kotak Floating Rate Fund – Growth*Name of the Benchmark - NIFTY Ultra Short Duration Debt Index, Scheme Inception date is 14/05/2019. Mr. Deepak Agrawal has been managing the fund since 14/05/2019. Kotak Banking and PSU Debt Fund - Growth, *Name of the Benchmark - CRISIL Banking and PSU Debt Index, Scheme Inception date is 29/12/1998. Mr. Deepak Agrawal has been managing the fund since 01/08/2008. Kotak Savings Fund – Growth*Name of the Benchmark - NIFTY Ultra Short Duration Debt Index, Scheme Inception date is 13/08/2004. Mr. Deepak Agrawal has been managing the fund since 01/04/2008. Kotak Liquid Fund - Growth, *Name of the Benchmark - NIFTY Liquid Index, Scheme Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007. Kotak Overnight Fund - Growth, *Name of the Benchmark - NIFTY 1D Rate Index, Scheme Inception date is 15/01/2019. Mr. Deepak Agrawal has been managing the fund since 15/01/2019. Kotak Money Market Fund - Growth, *Name of the Benchmark - NIFTY Money Market Index, Scheme Inception date is 14/07/2003. Mr. Deepak Agrawal has been managing the fund since 01/11/2006.
104 Funds Managed by Mr. Harsha Upadhyaya
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak Equity Opportunities Fund - Growth 27.71 32.24 11.58 11.35 17.91 17.19 18.31 15.37 Kotak Tax Saver Fund - Growth 26.85 33.47 12.19 10.86 17.41 17.31 12.17 13.03 Kotak Flexi Cap Fund - Growth 24.97 32.24 10.82 11.35 17.38 17.19 13.91 11.56 Kotak ESG Opportunities Fund - Growth Kotak ESG Opportunities Fund has not yet completed 1 year from Inception, the performance of the scheme is not disclosed. Mr. Harsha Upadhyaya manages 4 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Equity Opportunities Fund (Sep 9, 04), Kotak Flexicap Fund (Erstwhile Kotak Standard Multicap Fund) (Sep 11, 09), Kotak Tax Saver Fund (Nov. 23,'05). Kotak Equity Opportunities Fund - Growth (Erstwhile Kotak Opportunities), *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Kotak Tax Saver Fund - Growth, *Name of the Benchmark - Nifty 500 TRI, Scheme Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015. Kotak Flexi Cap Fund - Growth (Erstwhile Kotak Standard Multicap Fund), *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Funds Managed by Mr. Pankaj Tibrewal
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Names Scheme Benchmark Returns Scheme Benchmark Returns Scheme Benchmark Returns Scheme Benchmark Returns Returns(%)^ (%)^* Returns(%)^ (%)^* Returns(%)^ (%)^* Returns(%)^ (%)^* Kotak Small Cap Fund - Growth 52.24 43.58 13.09 -0.17 20.40 14.19 16.48 12.74 Kotak Emerging Equity Fund - Growth 36.76 39.98 12.07 6.79 19.97 16.24 13.20 13.32 Kotak Equity Hybrid Fund - Growth 29.09 24.87 11.16 12.46 15.19 14.80 10.53 10.34
Mr. Pankaj Tibrewal manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Small Cap Fund (Feb. 24,05), Kotak Emerging Equity Fund (Mar 30,'07), Kotak Equity Hybrid Fund (Nov. 25,'99). Kotak Smallcap Fund - Growth, *Name of the Benchmark - NIFTY Smallcap 100 TRI, Scheme Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010. Kotak Equity Hybrid Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 65:35 Index, Scheme Inception date is 25/11/1999. Mr. Pankaj Tibrewal has been managing the fund since 25/08/2015. Mr. Abhishek Bisen has been managing the fund since 15/04/2008
105 Funds Managed by Mr. Hiten Shah
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Names Scheme Benchmark Returns Benchmark Returns Benchmark Returns Scheme Benchmark Returns(%)^ (%)^* Scheme Returns(%)^ (%)^* Scheme Returns(%)^ (%)^* Returns(%)^ Returns (%)^* Kotak Balanced Advantage Fund - Growth 18.49 21.42 NA NA NA NA 10.92 11.67 Kotak Equity Savings Fund - Growth 13.14 9.63 7.90 7.04 9.34 8.16 8.37 7.19 Kotak Equity Arbitrage Fund - Growth 3.54 1.86 5.39 4.54 5.77 4.84 7.13 NA
Mr. Hiten Shah manages 3 fund of Kotak Mahindra Mutual Fund Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Balanced Advantage Fund (Aug. 03, 18), Kotak Equity Savings Fund (Oct. 13, 2014), Kotak Equity Arbitrage Fund (Sep. 29, 05). Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 Arbitrage + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since 09/05/2019. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019. Kotak Equity Arbitrage Fund - Growth, *Name of the Benchmark - Nifty 50 Arbitrage Index, Scheme Inception date is 29/09/2005. Mr. Hiten Shah has been managing the fund since 03/10/2019.
Funds Managed by Ms. Shibani Kurian
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Names Scheme Benchmark Returns Scheme Benchmark Scheme Benchmark Scheme Benchmark Returns(%)^ (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak India EQ Contra Fund - Growth 31.23 31.20 12.93 11.91 18.30 17.19 13.21 14.08 Kotak Focused Equity Fund - Growth 27.51 32.24 NA NA NA NA 19.91 16.55 Kotak India Growth Fund - Series 7 - Growth 20.18 31.37 NA NA NA NA 10.42 10.37
Ms. Shibani Kurian manages 3 fund of Kotak Mahindra Mutual Fund Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak India EQ Contra Fund - Growth (July. 27, '05), Kotak India Growth Fund Series 7 (Aug. 31, 18), Kotak Focused Equity fund (Jul 16, '19). Kotak India EQ Contra Fund - Growth (Erstwhile Classic Equity Fund), *Name of the Benchmark - Nifty 100 TRI, Scheme Inception date is 27/07/2005. Ms. Shibani Kurian has been managing the fund since 09/05/2019. Kotak Focused Equity Fund - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 16/07/2019. Mr. Harish Krishnan & Ms. Shibani Kurian has been managing the fund since 16/07/2019. Kotak India Growth Fund - Series 7 - Growth, *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 31/08/2018. Ms. Shibani Kurian has been managing the fund since 09/05/2019.
106 Other Funds Managed by Mr. Harish Krishnan
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak Pioneer Fund - Growth 55.50 42.30 NA NA NA NA 36.78 24.67 Top 3 Kotak India Growth Fund - Series 5 - Growth 46.61 32.24 NA NA NA NA 13.89 11.46 Kotak Bluechip Fund - Growth 30.07 31.37 11.81 12.88 15.75 17.29 19.67 17.22 Kotak Infrastructure and Economic Reform Fund - 29.40% 30.64% 4.05% 2.43% 13.32% 10.89% 7.19% 1.33% Growth Bottom 3 Kotak Focused Equity Fund - Growth 27.51 32.24 NA NA NA NA 19.91 16.55 Kotak Equity Savings Fund - Growth 13.14 9.63 7.90 7.04 9.34 8.16 8.37 7.19
Mr. Harish Krishnan manages 7 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Bluechip Fund (Feb 04, 03), Kotak Infrastructure & Economic Reform Fund (Feb 25, '08), Kotak India Growth Fund Series 5 (May15,18), Kotak Balanced Advantage Fund (Aug. 03,18), Kotak Equity Savings Fund (Oct. 13' 14), Kotak Focused Equity fund (Jul 16, '19), Kotak Pioneer Fund (Oct 31, '19
Kotak Pioneer Fund - Growth, *Name of the Benchmark - 85% IISL Kotak India Pioneering Innovations + 15% MSCI ACWI Information Technology Index TRI, Scheme Inception date is 31/10/2019. Mr. Harish Krishnan & Mr. Arjun Khanna has been managing the fund since 31/10/2019. Kotak India Growth Fund Series 5- Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 15/05/2018. Mr. Harish Krishnan has been managing the fund since 15/05/2018. Kotak Bluechip Fund - Growth (Erstwhile Kotak 50), *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 04/02/2003. Mr. Harish Krishnan has been managing the fund since 15/11/2013. Kotak Focused Equity Fund - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 16/07/2019. Mr. Harish Krishnan & Ms. Shibani Kurian has been managing the fund since 16/07/2019. Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 Arbitrage + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since 09/05/2019. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019. Kotak Infrastructure and Economic Reform Fund - Growth, *Name of the Benchmark - India Infrastructure Index (Customised Index by IISL), Scheme Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 31/01/2015.
107 Other Funds Managed by Mr. Abhishek Bisen
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak Equity Hybrid Fund - Growth 29.09 24.87 11.16 12.46 15.19 14.80 10.53 10.34 Kotak Balanced Advantage Fund - Growth Top 3 18.49 21.42 NA NA NA NA 10.92 11.67
Kotak Equity Savings Fund - Growth 13.14% 9.63% 7.90% 7.04% 9.34% 8.16% 8.37% 7.19% Kotak Gold Fund - Growth 7.41 7.65 14.45 14.67 8.87 8.60 6.71 8.15 Bottom 3 Kotak Gold ETF 7.10 7.65 13.80 14.67 7.64 8.60 11.78 12.90 Kotak Bond Fund - Growth 6.72 7.65 8.79 9.12 8.00 8.59 8.78 NA
Mr. Abhishek Bisen manages 8 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Equity Hybrid Fund (Nov. 05, 2014), Kotak Debt Hybrid Fund (Dec. 02, 03), Kotak Bond Fund (Regular Plan) (Apr. 15, 08), Kotak Gilt Fund (Regular & PF-Trust) (Dec. 29, 98), Kotak Equity Savings Fund (Oct. 13, '14), Kotak Gold ETF (Jul. 27, 07), Kotak Gold Fund (Mar. 25, '11), Kotak Balanced Advantage Fund (Aug. 03' 18)
Kotak Gold Fund - Growth, *Name of the Benchmark - Price of Gold, Scheme Inception date is 25/03/2011. Mr. Abhishek Bisen has been managing the fund since 04/03/2011. Kotak Gold ETF, *Name of the Benchmark - Price of Gold, Scheme Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. & Mr. Satish Dondapati has been managing the fund since 09/05/2019. Kotak Equity Hybrid Fund - Growth (Erstwhile Kotak Balance), *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 65:35 Index, Scheme Inception date is 25/11/1999 and Kotak Equity Hybrid Fund - Regular plan scheme inception date is 3rd November 2014. Mr. Pankaj Tibrewal has been managing the fund since 25/08/2015. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Kotak Bond Fund - Growth, *Name of the Benchmark - NIFTY Medium to Long Duration Debt Index, Scheme Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 Arbitrage + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since 09/05/2019. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019. Kotak Balanced Advantage Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index . Scheme Inception date is 03/08/2018. Mr. Abhishek Bisen & Mr. Harish Krishnan has been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019. 108 Other Funds Managed by Mr. Devender Singhal
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Name Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak India Growth Fund - Series 4 - 66.67 32.24 14.71 11.35 NA NA 14.62 11.73 Growth Top 3 Kotak NV20 ETF 39.37 43.55 15.26 16.60 19.02 20.02 16.43 16.20 Kotak Nifty ETF 30.78 31.37 12.61 12.88 16.47 17.29 10.44 11.81
Kotak Sensex ETF 29.55% 30.00% 13.90% 14.22% 16.96% 17.89% 9.82% 10.97% Bottom 3 Kotak PSU Bank ETF 22.03 23.03 -8.76 -8.07 2.48 3.59 -1.63 -0.14 Kotak Banking ETF 17.49 19.48 11.08 11.83 20.08 20.68 10.87 11.32
Mr. Devender Singhal manages 8 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Debt Hybrid Fund - Growth (Dec. 02, 03), Kotak India Growth Fund Series-4 (Feb. 14, '18), Kotak NV20 ETF (Dec. 01, '15), Kotak Banking ETF (Dec. 10, '14), Kotak Sensex ETF (Jun. 06, '08), Kotak Asset Allocator Fund (Aug,. 09, '04), Kotak PSU Bank ETF (Nov. 08, 07), Kotak Nifty ETF (Feb. 02, '10) Kotak India Growth Fund - Series 4 - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 14/02/2018. Mr. Devender Singhal has been managing the fund since 24/01/2019. Kotak NV20 ETF - *Name of the Benchmark Nifty 50 Value 20 TRI, Scheme Inception date is 01/12/2015. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019. Kotak Sensex ETF, *Name of the Benchmark - S&P BSE SENSEX TRI, Scheme Inception date is 06/06/2008. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019. Kotak Nifty ETF, *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 02/02/2010. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019. Kotak Banking ETF, *Name of the Benchmark - Nifty Bank TRI, Scheme Inception date is 10/12/2014. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019. Kotak PSU Bank ETF - *Name of the Benchmark Nifty PSU Bank TRI, Scheme Inception date is 08/11/2007. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
109 Fund Type of Scheme
Kotak Equity Opportunities Fund Large & Mid Cap Fund - An open ended equity scheme investing in both large cap and mid cap stocks Kotak Small Cap Fund Small cap fund - An open-ended equity scheme predominantly investing in small cap stocks Kotak Emerging Equity Fund Mid Cap Fund - An open ended equity scheme predominantly investing in mid cap stocks Kotak Tax Saver Fund An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit Kotak Balanced Advantage Fund Open ended Dynamic Asset Allocation Fund Kotak Pioneer Fund An open ended equity scheme investing in pioneering innovations theme Kotak India EQ Contra Fund An open-ended equity scheme following contrarian investment strategy Kotak Debt Hybrid Fund An open ended hybrid scheme investing predominantly in debt instruments Kotak Bluechip Fund Large cap fund - An open-ended equity scheme predominantly investing in large cap stocks An open ended fund of fund scheme investing in specified open-ended equity, and debt Schemes of Kotak Mahindra Kotak Asset Allocator Fund Mutual Fund Kotak Equity Arbitrage Fund An open ended scheme investing in arbitrage opportunities Kotak Equity Savings Fund An open ended scheme investing in equity, arbitrage and debt Kotak Flexicap Fund Flexicap Fund - An open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks Kotak Focused Equity Fund An open ended equity scheme investing in maximum 30 stocks in large-cap, mid-cap and small-cap category Kotak Floating Rate Fund An open ended debt scheme predominantly investing in floating rate instruments Kotak Equity Hybrid Fund An open-ended hybrid scheme investing predominantly in equity and equity related instruments An open ended fund of fund scheme investing in units of SMAM ASIA REIT Sub Trust fund and/or other similar overseas Kotak International REIT FoF REIT funds An open ended equity scheme which follows the Environment, Social and Governance (ESG) theme with flexibility of Kotak ESG Opportunities Fund investing across market capitalization 110 Fund Type of Scheme Kotak Overnight Fund An open ended debt scheme investing in overnight securities Kotak Gilt Fund An open ended debt scheme investing in government securities across maturity Kotak Money Market Fund An open ended debt scheme investing in money market instruments Kotak Savings Fund An open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months and 6 months Kotak Bond Short Term Fund An open ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year and 3 years
Kotak Corporate Bond Fund An open ended debt scheme predominantly investing in AA+ and above rated corporate bonds.
Kotak Credit Risk Fund An open ended debt scheme predominantly investing in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds)
Kotak Banking & PSU Debt Fund An open ended debt scheme predominantly investing in Debt instruments of banks, Public Sector Undertakings, Public Financial Institutions and Municipal Bonds. Kotak Liquid Fund An open ended liquid scheme Kotak Low Duration Fund An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months
Kotak Medium Term Fund An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 years and 4 years
Kotak Dynamic Bond Fund An open ended dynamic debt scheme investing across duration. Kotak Bond Fund An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 years and 7 years
Kotak India Growth Fund Series Multicap Fund - A 1099 days close ended equity scheme investing across large cap, midcap and small cap stocks 5 Kotak India Growth Fund Series Multicap Fund - A 36 months close ended equity scheme investing across large cap, midcap and small cap stocks 4 Kotak Infrastructure & An open ended equity scheme following Infrastructure & Economic Reform theme Economic Reform Fund
111 The above risk-o-meter is based on the scheme portfolio as on Jan 31, 2021. An addendum may be issued or website updated for new risk-o-meters
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them 112 The above risk-o-meter is based on the scheme portfolio as on Jan 31, 2021. An addendum may be issued or website updated for new risk-o-meters *Investors should consult their financial advisors if in doubt about whether the product is suitable for them 113 The above risk-o-meter is based on the scheme portfolio as on Jan 31, 2021. An addendum may be issued or website updated for new risk-o-meters *Investors should consult their financial advisors if in doubt about whether the product is suitable for them 114 Kotak Flexicap Fund
The above risk-o-meter is based on the scheme portfolio as on Jan 31, 2021. An addendum may be issued or website updated for new risk-o-meters
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them 115 • Long term capital growth Kotak India Growth Series 4 • Investment in equity and equity related securities without any market capitalisation and sector bias
• Long term capital growth Kotak India Growth Series 5 • Investment in equity and equity related securities without any market capitalisation and sector bias
Kotak Flexicap Fund
The above risk-o-meter is based on the scheme portfolio as on Jan 31, 2021. An addendum may be issued or website updated for new risk-o-meters
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them 116 The above risk-o-meter is based on the scheme portfolio as on Jan 31, 2021. An addendum may be issued or website updated for new risk-o-meters
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them 117 Kotak Liquid Fund
The above risk-o-meter is based on the scheme portfolio as on Jan 31, 2021. An addendum may be issued or website updated for new risk-o-meters
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them 118 Thank You
Stay Safe , Stay Healthy and Stay Invested
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