Monthly Market Outlook January 2021
The views expressed in this presentation are through the period ending 07-Jan-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. 2 Equity Market Outlook
January 2021
3 Anhoni Ko Honi Kar De Honi Ko Anhoni Ek Jagah Per Jama Ho Tino Amar, Akbar,Anthony..
Flows, Sentiments And Fundamentals Made Anhoni In 2020
4 Global Economy
5 Global Economy Has Rebounded Strongly
Citi Economic Surprise Index* (global)
*The CESI compares economic data against economists expectation , rising when the exceeds consensus estimates and falling when the data are below estimates
Source: Refinitv 6 Record Money Printing By Central Banks
7 Source: Goldman Sachs Global Investment Research Excess Liquidity Supports Global Equities
Source: Refinitiv, Credit Suisseresearch 8 Record Debt Now Trades At Negative Yield
9 Low Interest Rates Support EquityValuations
Equity valuations will remain a big part of the market narrative in 1H21. However, history indicates today’s valuation are supported by historically low interest rates
Source: Market Desk Research, Yale / Robert Shiler 10 Global Valuations At Elevated Levels After A Sharp Rerating
MSCI AC World – 12-month forward PE band
Source: Jefferies, FactSet 11 Big Becoming Bigger
Source: Bloomberg 12 Is it Utopia ?
13 lndian Economy
14 Activity Tracker: India : Majority Of Demand Side Indicators Showing Improving Trends
Source: CMIE, RBI, Vahan, UBS 15 Activity Tracker: India :Supply Side Indicators Also Showing Improving Trends
Source: CMIE, RBI, GSTN, Vahan, UBS 16 Recovery Is Getting Broad Based
17 Economy Back In Green
Red- Negative, Amber-Watch, Blue-Neutral, Green-Positive;
Source: Nirmal Bang Institutional Equities Research, Google-mobility report, CMIE, Reserve Bank of India, Government of India, CEIC,Bloomberg. 18 Economic Normalisation Continues Apace
Source: Google, Apple, CMIE, Bloomberg and Nomura Global Economics 19 Record High GST Collections
Source: Ministry of Finance, moneycontrol.com 20 Manufacturing PMI Shows Momentum Holding Up
Manufacturing momentum stabilizes in Dec Services could show sequential improvement
Source: CEIC, Bloomberg, Markit 21 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 22 PLI Schemes Can Add 1.6% To FY27 GDP
Source: RAVE, Credit Suisseestimates 23 Rabi Season Sowing Strong Growth
Reservoir levels higher in central and southernIndia Rabi sowing strong for wheat, pulses, and oilseeds
Source: CEIC, IMD, Agricoop , Axis Capital 24 Centre’s 2H Spending Is Likely To Grow Vs Fall In 1H
25 Source: CGA, Credit Suisse estimates India Has Clearly Passed Peak On Daily Covid Case Counts; Risk Of Second Wave Remains
Source: Bloomberg, Datastream, UBS Estimates 26 Vaccination Will Begun In 1 Q CY 21
27 Budget Has Raised Expectations
28 Unemployment Is High
CMIE Series of Unemployment : Unemployment Rate : 30 day moving Unemployment Rate 4th Jan Unemployment rate (UER)(>=15) average (%) 2021
Source: CMIE 29 Jobs Demanded Under MGNREGA Remain High
Employment demanded by persons under MGNREGA (inmn)
Source: CMIE, Kotak Economics Research 30 Credit Growth Is Subdued Despite CGS
Credit Growth – Expect retail loan growth to improve materially over the next year
Source: RBI, Morgan StanleyResearch 31 Equity Markets
32 Sare Jahan Se Acha Hindustan Hamara
12 MONTHS FPI FLOW (Dec'19 to Dec'20) (USD bn) India 23 .0
-2.5 Philippines
-3.2 Indonesia
-5.8 Malaysia
-7.4 South Africa
-8.3 Thailand
-8.5 Brazil
-16.2 Taiwan
-20.1 South Korea
Source: Axis Capital 33 Rising Ownership Of FII’s In Indian Equities
Source: CMIE, Bloomberg, UBS India 34 $1 Trillion Could Flow Into The Stock Market In 2021
Change in flows per year in $bn.
Source: J.P. Morgan 35 EM Equities Are The Most Preferred Asset Class
Source: BofA Securities fund managers survey 36 Sept 20 Results Were Above Expectations
37 Source: Bloomberg Earnings Upgrades After 23 Quarters Of Downgrade
Consensus Nifty EPS growth estimates
Source: Credit Suisse 38 Earnings Growth Likely To Rebound Strongly
`
Source: Bloomberg estimates, Bernsteinanalysis 39 Nifty Trading Rich Relative To Its Own History But Not Relative To EM Peers
Nifty trading at rich valuations on 12m fwd PE: India's premium to EM at 5 year mean
Source: Datastream, Bloomberg,UBS 40 Small Cap Still Below Its Peak Of 2018
Price as on Indices Absolute Returns 15/01/2018 31/12/2020
Nifty 50 10742 13982 30.2%
Nifty Midcap 100 21697 20843 -3.9%
Nifty Smallcap 100 9580 7088 -26.0%
Source: Capital Line 41 Nifty At Lifetime High Levels Due To Few Stocks – But Mid & Small Caps Still Below January 2018 Levels
27,000 Nifty-50 (TRI) Top-15 Stock (Re-based) Next-35 Stock (Re-based) 24,000 24,575 Top 15 stocks delivered return of 75% 21,000 19,494 18,000 Index delivered 39% return 15,000 14,790 14,072 12,000 Next 35 stocks delivered return of 5% 9,000 Return (%) Index Name (Dec 2017 to Dec 2020) Nifty 50 TRI 38.5 Nifty Index TRI Nifty Midcap 100 TRI Nifty Small Cap 100 TRI 145 Nifty Midcap 100 TRI 2.1 139 125 Nifty Smallcap 100 TRI -19.0 105 102
85 81 65 Rebased to 100 45
25
Jul-18 Jul-20
Jan-20 Jan-19
Jun-18 Jun-19
Oct-20 Oct-18
Apr-19 Apr-20
Feb-18 Sep-18 Feb-19 Sep-19
Dec-17 Dec-18 Dec-19 Dec-20
Aug-19 Aug-20
Nov-19 Nov-20
Mar-18 Mar-20
May-20 May-18 May-19
Source: Motilal Oswal & internal analysis Past performance may or may not be sustained in future. 42 Performance Across Market Cap
Performance as on 31st Dec 2020 Sectoral Performance CY20 YTD (%) 30 61% 55%
21.9 21.5 20 14.9 12.0 9.9 9.2 8.9 22% 21% 10 7.8 8.6 7.8 16% 5.7 5.6 15% 13% 4.6 12% 11% 6% 5% 4% 0 (0.5) -3% -3% -9% (10) (8.0)
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 31st Dec 2020. Past Performance may or may not sustain in the future 43 Corrections Are Part Of Market Cycle
Nifty -10% correction from 6 month highs
Source: Bloomberg 44 Market Surprises Even The Experts
In March / April 2020 In November 2020
45 Valuation Wise – Neutral Weight Momentum Wise - Overweight
Neutral weight doesn't mean selling equity. It means profit booking on excess position.
46 Market Cap-to-GDP Ratio – Above Long Term Average
Market cap-to-GDP ratio: Market rebound brings ratio above long term average
103 Average of 75% for the period 95 98 88 83 82 83 81 79 79 71 66 69 64 56
52 55
FY20 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY21E
OW Equities =Ratio Below Historical Lows Neutral Equities = Ratio at Historical Average
Source: Motilal Oswal 47 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
3.8 23 21.7 Average: 17.9x Average: 2.7x 3.0 18 3.0
13 2.3
8 1.5
Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19 Dec-20
Dec-20 Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 Dec-13 Dec-14 Dec-15 Dec-16 Dec-17 Dec-18 Dec-19
Source: Motilal Oswal 48 Time To Be Neutral Weight To Equities
Marginally OW Small and Midcap
Marginally UW Large cap
Neutral Equity
49 Value Addition By Our Partners
50 Headline Vs Fact
Headline in Apr-20
Source: Mint
1 Month Simple Fund Simple Annualized Returns (%) Annualized Returns(%) April-20 to Dec-20 April-20 Kotak Credit Risk Fund 12.48 -32.49 Kotak Medium Term Fund 15.47 -42.11
Nifty Credit Risk Bond Index 13.87 -5.05 Nifty Medium Duration Debt Index 13.16 8.40
Source: MFi Explorer. Past performance may or may not sustain in the future. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to the disclaimer slides for scheme information & detailed performance of the fund. April-20-Dec-20 denotes 30th April 2020 to 31st Dec 2020 51 Disciplined Asset Allocation Like Kotak BAF
Date 24-Mar-20 31-Dec-20 17-Jan-20
Nifty 50 7801 13982 12352
Market Valuation Cheap Fair Value Expensive
KBAF Net Equity Allocation 75% 39% 39%
Kotak Balanced Advantage Fund (KBAF) NAV 8.52 12.77 11.36
Equity Allocation Over Weight Neutral Weight Under Weight KBAF = Kotak Balanced Advantage Fund KBAF allocates between 20% -80% in net Equity
Click here for KBAF Net Equity Allocation Click here to view video by Mr. Nilesh shah on How to make money through equity asset allocation? Source: MFI, Capital Line, Past Performance may or may not sustain in the future . 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. 52 Don’t Stop SIP Due To Low/Negative Return – Kotak Emerging Equity Fund SIP Returns
Kotak Emerging Equity Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Fund 10 Yr 15.74 16.77 15.67 9.24 11.38 10.81 12.16 13.08 14.10 14.39 14.51 16.74 17.37 7 Yr 15.33 16.81 15.06 5.29 8.31 7.29 9.15 10.28 11.46 11.46 11.23 14.24 14.88 5 yr 8.88 11.19 8.89 -4.54 0.16 -0.88 2.16 4.24 6.54 7.16 7.42 12.22 13.57 3 yr 5.28 9.10 5.26 -16.04 -8.23 -9.38 -4.05 -0.26 3.88 5.32 6.09 14.75 17.48 1 yr 13.93 26.63 13.16 -41.26 -21.05 -22.23 -6.37 5.88 17.99 20.89 22.49 53.18 60.73
Benchmark Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 10 Yr 10.52 11.34 9.91 2.89 5.56 5.13 6.98 7.86 9.19 9.44 9.43 12.08 12.98 7 Yr 9.70 10.87 8.67 -1.76 2.03 1.30 3.91 5.05 6.77 6.85 6.57 10.28 11.41 5 yr 4.32 6.11 3.17 -11.05 -5.43 -6.15 -2.18 -0.25 2.62 3.13 3.10 8.68 10.58 3 yr -1.56 1.39 -3.33 -24.95 -15.87 -16.34 -9.62 -6.05 -0.93 0.41 0.79 10.75 14.46 1 yr 2.42 13.11 -0.97 -51.01 -28.60 -27.59 -7.59 4.45 20.10 22.58 22.13 58.41 69.69
Source: MFi Explorer. As on 31 Dec 2020. 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 to53 disclaimer slides for scheme information and detailed performance of the fund Don’t Stop SIP Due To Low/Negative Return – Kotak Tax Saver Fund SIP Returns
Kotak Tax Saver Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Fund 10 Yr 12.37 12.84 11.59 6.12 8.30 7.71 9.07 9.84 10.17 10.45 10.79 12.49 13.42 7 Yr 12.89 13.55 11.63 3.47 6.59 5.63 7.55 8.56 8.87 9.05 9.31 11.65 12.83 5 yr 10.03 11.06 8.46 -2.82 1.87 0.74 3.72 5.43 6.23 6.80 7.48 11.06 12.97 3 yr 8.77 10.28 5.74 -12.52 -4.82 -6.31 -1.22 1.78 3.32 4.57 5.91 12.31 15.85 1 yr 14.38 19.27 4.80 -39.77 -19.67 -21.28 -5.64 4.79 9.40 12.51 16.78 39.02 50.91
Benchmark Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 10 Yr 11.42 11.27 9.92 4.52 7.03 6.47 7.88 9.00 9.59 9.42 9.82 11.85 13.05 7 Yr 11.54 11.24 9.16 1.14 4.74 3.86 5.87 7.44 8.18 7.75 8.17 11.06 12.72 5 yr 9.71 9.38 6.58 -4.47 0.84 -0.20 2.84 5.27 6.57 6.16 6.94 11.21 13.72 3 yr 7.73 6.87 2.01 -15.61 -7.02 -8.42 -3.30 0.86 3.24 2.86 4.40 11.96 16.51 1 yr 11.16 9.53 -3.97 -44.09 -21.81 -22.51 -6.47 7.58 15.05 13.16 18.25 45.39 61.53 Source: MFi Explorer. As on 31 Dec 2020. 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 to54 disclaimer slides for scheme information and detailed performance of the fund Don’t Stop SIP Due To Low/Negative Return – Kotak Equity Opportunities Fund SIP Returns
Kotak Equity Opportunities Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Fund 10 Yr 13.15 13.71 12.42 7.09 9.26 8.89 10.16 10.98 11.27 11.40 11.62 13.55 14.26 7 Yr 13.18 13.93 11.92 3.91 7.00 6.36 8.15 9.24 9.51 9.52 9.64 12.37 13.26 5 yr 10.32 11.54 8.85 -2.20 2.49 1.83 4.62 6.46 7.15 7.43 7.84 11.94 13.41 3 yr 8.58 10.47 5.82 -12.05 -4.31 -5.05 -0.19 3.07 4.48 5.27 6.25 13.61 16.40 1 yr 16.31 22.39 7.20 -37.53 -16.86 -16.79 -1.71 9.01 12.73 14.01 16.65 41.91 50.63
Benchmark Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 10 Yr 11.57 11.29 9.92 4.66 7.20 6.64 7.94 9.10 9.55 9.31 9.77 11.79 13.00 7 Yr 11.73 11.25 9.15 1.34 4.99 4.11 5.98 7.62 8.17 7.66 8.18 11.07 12.75 5 yr 10.29 9.69 6.86 -3.91 1.47 0.42 3.25 5.77 6.79 6.25 7.15 11.39 13.91 3 yr 8.83 7.51 2.56 -14.70 -6.02 -7.48 -2.71 1.55 3.44 2.80 4.52 12.00 16.53 1 yr 11.89 8.82 -4.78 -43.76 -21.21 -21.98 -6.84 7.55 13.65 11.22 17.09 43.96 60.28
Source: MFi Explorer. As on 31 Dec 2020. 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 55 Don’t Stop SIP Due To Low/Negative Return – Kotak Bluechip Fund SIP Returns
Kotak Bluechip Fund Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 10 Yr 11.58 11.43 10.16 5.08 6.76 6.76 8.06 9.26 9.63 9.57 9.98 11.72 11.61 7 Yr 11.63 11.33 9.4 1.84 4.22 4.22 6.09 7.79 8.2 7.96 8.38 10.87 12.45 5 yr 9.69 9.38 6.78 -3.60 0.21 0.21 3.06 5.69 6.57 6.47 7.32 11.03 13.47 3 yr 9.67 8.9 4.35 -12.47 -6.04 -6.04 -1.22 3.26 4.87 4.89 6.44 12.96 17.29 1 yr 17.33 14.9 1.08 -39.36 -19.9 -19.9 -4.99 9.56 14.14 13.35 18.43 41.53 56.78
Benchmark Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 10 Yr 11.63 11.16 9.79 4.64 6.53 6.53 7.78 9.05 9.48 9.12 9.7 11.65 11.64 7 Yr 12.01 11.26 9.18 1.55 4.23 4.23 6.05 7.88 8.42 7.78 8.51 11.31 13.11 5 yr 11.51 10.54 7.72 -2.83 1.33 1.33 4.07 6.83 7.79 7 8.16 12.25 14.89 3 yr 11.38 9.32 4.29 -12.84 -6.03 -6.03 -1.47 3.14 4.87 3.74 5.81 12.96 17.61 1 yr 14.05 8.52 -5.15 -43.43 -22.34 -22.34 -7.67 7.88 13.75 10.15 17.46 43.44 60.67
Source: MFi Explorer. As on 31 Dec 2020. 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 scheme56 information and detailed performance of the fund Equity Investment Opportunity
57 Shift Money From Balance Fund To Balance Advantage Fund
Source: Bloomberg, CLSA. Note: assumed 65% flows of balanced fund flows as equity flows. 58 A Ship That Sails Skillfully Through Storm & Good Weather
Net Aum flows in Rs Crs over last 12 months(*) 1487 Funds 1 YR 2 YR
Kotak Balanced Advantage Fund - Reg - 13.6% 12.9% Kotak BAF Others Total industry Flows Growth
16.5% 14.4% Benchmark -2193 16.1% 14.8% Nifty 50 TRI -3680 As on 31st Dec 2020 As on 30th Nov 2020
If Portfolio returns are less than the Balanced advantage funds , Investors may consider BAF as investment solution .
Source: ICRA. *: Industry data is from AMFI and Kotak BAF 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 refer to disclaimer slides for detailed performance & scheme information of the fund.
59 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 15.64% 12.25% 15.40%
Last 5 Year 12.23% 11.84% 13.39%
Last 3 Years 12.88% 11.32% 11.28%
Last 1 Years 24.89% 16.50% 16.09%
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 55.20%
Mutual Fund investments are subject to market risks, read all scheme related documentscarefully. Source: ICRA. As on 31st December 2020. 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. 60 Debt Investors With Marginal Appetite For Equity Can Consider Investment In Kotak Debt Hybrid Fund
Kotak Debt Hybrid Time Horizon Nifty 50 TRI Benchmark Fund 1 Year 13.81% 16.09% 14.15% 2 Years* 12.48% 14.78% 12.44% 3 Years* 8.10% 11.28% 9.99% 5 Years* 9.48% 13.39% 10.15% * Less than 1 year Absolute returns, Greater than 1 year Compound Annualized returns 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
st Source: ICRA. As on 31 December 2020. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please61 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. Shift Money To Alpha Generating Large Caps
7 Years 5 Years 3 Years 1 Year
Kotak Bluechip Fund – Direct Plan 15.64 12.93 10.37 17.66 Nifty 50 TRI 13.43 13.39 11.28 16.09 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 31st December 2020. 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. 62 Fintech Theme Is Good From 3 – 4 Years Perspective
Key trends
Participate in Fintech through
Funds 1. Kotak Focused Fund ( 43.3% weight in FinTech*) 2. Combination of Kotak Pioneer Fund (tech heavy) & Kotak Banking ETF
*As on 31st Dec2020 63 Should We Invest In Gold ?
We had given a call to invest in Gold in first week of March 20 (Monthly Market Outlook – Mar 2020)
64 Gold Supply Is Dwindling
65 Source : S&P Global markets Intelligence Gold Discoveries Are Falling
Source : S&P Global markets Intelligence 66 Gold Price Vs. Exploration Budgets
67 Source : S&P Global markets Intelligence Gold Vs. Miners’ CAPEX
Source : Bloomberg 68 Gold Corrected In 2008 From June To Sept And Then Rallied To Life Time High As Central Banks Cut Interest Rates And Pumped Liquidity
Life time High
Our call to consider gold was given in Mar 2020 monthly market outlook.
Fall in Gold Gold prices correction in 2008
Source: Bloomberg, . 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. 69 Risk To Gold View
• There is 12.5 % import duty on Gold inIndia.
• If the import duty is reduced, 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.
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. 70 Active V/S Passive Funds in Alpha Generation
71 Active & Passive Outperformance Trends
Active and Passive Outperformance Trends Are Cyclical Rolling Monthly 3-Year Periods (1986 to 2019)
Data Sources : Morningstar and Hartford Funds 72 Index Funds Underperforms Index
Fund Category 1 Year 3 Year* 5 Year*
Nifty 50 TRI 16.09 11.28 13.39
Category Average 15.18 10.31 12.27 -0.91 -0.97 -1.12 Alpha
Fund Category 1 Year 3 Year* 5 Year*
S&P BSE Sensex TRI 17.11 13.22 14.25
Category Average 16.02 12.25 13.15 -1.09 -0.97 -1.11 Alpha * Less than 1 year Absolute returns, Greater than 1 year CAGR
Source: ICRA. As on 31st Dec 2020. 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. 73 Active Funds Can Give Alpha
Scheme Name 1 Year (%) 3 Year (%)* 5 Year(%)* • Active funds can’t take more than 10% in Kotak Standard Multicap Fund - Dir - Growth 12.86 8.61 14.02 stocks. Nifty 200 TRI 16.78 8.82 12.86 Alpha -3.92 -0.21 1.16 • Fund has to keep Cash to meet Kotak Small Cap Fund - Dir - Growth 36.02 6.65 14.41 redemptions Nifty Smallcap 100 TRI 22.7 -6.98 5.68 Alpha 13.32 13.63 8.73 Kotak Emerging Equity Fund - Dir - Growth 23.4 6.69 14.55 • Index changes stocks at the closing price Nifty Midcap 100 TRI 22.95 0.5 10.4 with no impact cost. Alpha 0.45 6.19 4.15 Kotak Equity Opportunities Fund - Dir - Growth 17.77 8.75 14.32 • Globally Total Return Index is compared Nifty 200 TRI 16.78 8.82 12.86 with funds gross return i.e. expenses are Alpha 0.99 -0.07 1.46 added back to performance .In India TRI is Kotak Bluechip Fund - Dir - Growth 17.66 10.37 12.93 compared with net return of the fund. Nifty 50 TRI 16.09 11.28 13.39 Alpha 1.57 -0.91 -0.46 • In Insurance for eg they compare gross Kotak Tax Saver Fund - Dir - Growth 16.37 8.86 13.81 return with PRI. In MF we compare TRI with Nifty 500 TRI 17.84 7.91 12.7 net return. Alpha* Less than 1 year Absolute returns, Greater than 1 year CAGR -1.47 0.95 1.11
Source: ICRA. As on 31st December 2020. 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. 74 Alpha Of SIP Returns
As On 31st Dec 20 Funds 10Yrs 7Yrs 5Yrs 3Yrs 1Yrs Benchmark
Kotak Small Cap Fund 5.53 7.04 7.44 7.93 9.78 Nifty Small Cap 100 TRI
Kotak Emerging Equity Scheme 2.99 4.38 3.47 3.00 3.03 Nifty Midcap 100 TRI
Kotak Standard Multi Cap Fund 2.01 1.86 0.27 -1.40 -2.39 Nifty 200 TRI
Kotak Equity Opportunities Fund 1.80 1.26 0.51 -0.50 -0.13 Nifty 200 TRI
Kotak Tax Saver -0.10 0.36 0.11 -0.74 -0.66 Nifty 500 TRI
Kotak India EQ Contra Fund -0.10 0.20 -0.15 -0.43 -1.34 Nifty 100 TRI
Kotak Bluechip Fund 2.35 -0.04 -0.65 -1.42 -0.32 Nifty 50 TRI
Source: Mfi Explorer. 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. Alpha Is Difference Of Scheme Return With Benchmark Return. 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 Note The Above Returns Doesn’t Include Hybrid Schemes 75 . Our Funds Have Bounced From The Bottom
NAV of our funds when Nifty 50 Current NAV of our funds Fund Name % Change was ~7610 (23/03/2020) (01/01/2021)
Kotak Pioneer Fund - Reg - Growth 6.8 13.8 103% Kotak Small Cap Fund - Reg - Growth 49.9 99.1 99% Kotak Equity Hybrid Fund - Growth 18.6 34.3 84% Kotak Bluechip Fund - Reg - Growth 162.2 294.7 82% Kotak India EQ Contra Fund - Reg - Growth 35.4 63.7 80% Kotak Emerging Equity Fund - Reg - Growth 28.1 49.8 77%
Kotak Equity Opportunities Fund - Reg - Growth 86.1 150.0 74%
Kotak Standard Multicap Fund - Reg - Growth 24.2 41.9 73% Kotak Tax Saver Fund - Reg - Growth 31.2 54.0 73% Kotak Focused Equity Fund - Reg - Growth 7.2 12.3 71%
Kotak Balanced Advantage Fund - Reg - Growth 8.4 12.8 52%
Source: MFI Explorer. As on 1st Jan 2020. Past performance may or may not sustain in the future. Please refer to the disclaimer slides for scheme information. Please consult your financial advisor orother professionals before acting on any information in this communication 76 Launching Kotak NASDAQ 100 Fund of Fund
Please click here for detailed presentation on NASDAQ 100 Fund of Fund (FOF) 77 Save The Date For Equity Colloquium – 2021
Live on Kotak Mutual Fund Channel on 78 Debt Market Outlook
January 2021
79 Surplus Liquidity May Recede Eventually With Gradual Economic Recovery
10,000 INR Bn Banking Liquidity
8,000
6,000
4,000
2,000 6,076.71 -
(2,000)
(4,000) Aug-18 Dec-18 Apr-19 Aug-19 Dec-19 Apr-20 Aug-20 Dec-20
• We do not expect RBI to opt for ‘active’ liquidity absorption in the early part of 2021 but might allow some ‘passive’ liquidity absorption. • A planned CRR cut reversal in March that may at best be accompanied by long term reverse repo and/or market stabilization bonds if deemed necessary 80 Source: RBI. Citi Research. As on 23 Dec 2020 Headline CPI Inflation Likely To Be Within Comfort Zone Of RBI For Most Of H1-FY22
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 Estimates 7.5% CPI Core CPI Market Market 7.0% RBI Estimates - 1 Estimates -2 6.5% 6.90% 6.0% Oct-Dec 20 6.8 6.7 6.5 5.5% 5.0% 5.69% Jan- March 21 5.8 5 5 4.5% FY 21 6.5 6.3 6.2 4.0%
Apri-June 21 5.2 4.4 4.8
Jul-20
Jan-20
Jun-20
Oct-20
Apr-20
Feb-20 Sep-20
Aug-20
Nov-20 Mar-20
May-20 July- Sept 21 4.6 4.3 4.6
• A higher inflation estimates from RBI compared to market estimates as shown above makes us believe that it stands to capture an extended supply side disruption and yet MPC remains committed to adopting the accommodative policy stance through FY22 . • We expect a prolonged pause from the MPC in FY22 and an accommodative stance until H1-FY22 at least.
81 Source:Source: Bloomberg; MOSPI, RBI, ICRA Internal Research RBI Will Focus On Which Inflation
16.0 WPI Inflation WPI Food Articles CPI Inflation CPI CPI Core 14.0 Food Price
12.0
10.0 9.6 8.0 7.2 6.0 5.8 4.0
2.0 1.6 0.0
-2.0
-4.0
-6.0 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20
82 Source: Ministry of Statistics & Programme Implementation and Office of Economic Advisor. Current Yield Curve May Flatten Going Forward If & When Reversal of Liquidity & Interest Rate Happens
• We have seen such a steep yield curve only twice in last 20 years
• Super liquidity has brought down the 3 month to 4 year segment sharply
• We believe if and when a reversal of liquidity and interest rate happens, there will be a bear flattening.
• Upward movement in 2-3 year rates would be greater than movement in 5 year rates
• Hence investors may consider duration/ dynamic fund category and may allocate to these funds from 1 -3 year investment horizon.
Source: Bloomberg, Citi Research 83 FIIs Continue To Be Net Buyers
USD Mn
1,500 1080 381 402 471 520 191 0 (142) (534) (1,500) (1,494) (1,434) (3,000) (2,695)
(4,500)
(6,000)
(7,500)
(9,000) (8,680)
(10,500)
Jul-20
Jan-20
Jun-20
Oct-20
Apr-20
Feb-20 Sep-20
Dec-20
Aug-20
Nov-20
Mar-20 May-20 84 Source: Axis Capital 10Year Gilt/PSU Bonds - Attractive in Valuation Terms
Yield Spread Between AAA 10-Year and 10-Year Gilt Spread of Corporate Bonds Over 3Y Gilt
In the corporate space, spreads compressed some more specially in the shorter end of the curve driven by liquidity and lesser supply. In the longer end the movement was largely in line with Gilt. Spread compression yet to happen
Source: RBI, Bloomberg 85 SDL Spreads Likely To Remain Around Current Levels In Near Term, Due To Policy Support From RBI
Spreads of State Bonds with Gilt
86 Source: RBI, Bloomberg, Morgan Stanley Research. *For F20 and F21, we have taken the average of 10Y state bond yields. Current Spreads Looks Attractive For Long Term Investors
Spread between 10year Bond and 1year T-Bill Yield: MPC’s Focus on Term Premia Is Likely To Prevent Imminent Sharp Rise In Bond Yields
Incremental Spreads in 10 Year provides a good cushion to shocks
87 Source: Bloomberg, Citi Research High Carry And Wide Spreads Available In The Corporate Bond Space - Super Liquidity May Help In Possible Spread Contraction In Future.
Ratings Period PSU / Corporate NBFC HFC END FEB 0.64% 1.44% 1.24% AAA END APRIL 1.32% 2.72% 2.37% END DEC 0.72% 0.85% 0.72%
END FEB 1.91% 2.70% 3.31% AA+ END APRIL 2.69% 5.01% 4.83% END DEC 1.65% 3.80% 1.80%
END FEB 2.26% 5.34% 4.28% AA END APRIL 4.22% 7.60% 5.60% END DEC 2.50% 6.55% 4.55%
END FEB 2.89% 6.88% 5.24% AA- END APRIL 4.87% 8.55% 6.37% END DEC 3.65% 6.04% 5.50%
Investors can benefit from this opportunity by investing in Corporate Bond Fund, Credit Risk, Medium Term. 88 Spreads are for five-year securities over annualised G-sec yields. Source - Bloomberg Debt Outlook
• The central bank is keen to ensure that growth becomes broad based. Thus, we continue to believe that RBI will continue with a Repo Rate pause for some more time now until inflation is stabilized • External position is much comfortable due to strong forex reserves ~$560 bn and counting • INR has also appreciated and this may induce interest of FPI in Indian bonds and also ease some part of inflation. • The Yield Curve has flattened somewhat as we expected earlier. Next big trigger could be Index inclusion as and when it happens • We believe the spreads between 1-10 year and 10-14-30 year is quite high and expect the same to flatten over the year. • 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” • We believe the accommodative bias continuity bodes well for bonds and hence time to bond continues
89 Kotak MF Mantra: ‘Return of Capital’ is more important
Strong Promoters, Cashflow backed business, Liquidity, and Asset Security are key to our investment ideas
90 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.
Dec-20 April-20
Credit Rating of Open-Ended Debt Funds % of Total AUM % of Total AUM
Tbill/G-Sec/SDL/AAA/A1+/Cash/ 94.19 92.81 AA+ 2.19 1.65 AA 2.33 2.90 AA- 0.84 1.42 Below AA- 0.45 1.22 Grand Total (AUM) (INR Cr) 122,928.13 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 31 Dec 2020 Please consult your financial advisor or other professionals before acting on any information in this communication 91 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 81 52 Credit Strategies Kotak Medium Term Fund Medium Duration 61 50 Kotak Credit Risk Fund Credit Risk 46 27 The above rating allocation includes NCA (Net Current Assets)
As on 31 Dec 2020. 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 92 Mutual fund investments are subject to market risks, read all scheme related documents carefully. Debt Investment Opportunity
93 Time To Play On Front Foot (Cautiously)
Time To Notch Up The Risk Appetite One At A Time
Long Duration Funds Credit Risk/Dynamic Short Debt/Medium Duration Term Ultra Short Funds Term Debt Liquid Funds Funds
Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or investment professional for investment decisions. 94 Debt Funds Have Generated Good Returns For The Patient Investors
Fund Name 3 Year Returns of Fund (%) (CAGR)
Kotak Gilt Fund 10.09%
Kotak Dynamic Bond Fund 9.98%
Kotak Banking and PSU Debt Fund 9.31%
Kotak Bond Fund 9.17%
Kotak Corporate Bond Fund 8.88%
Kotak Bond Short Term Fund 8.59%
Kotak Credit Risk Fund 7.24%
Kotak Medium Term Fund 6.97%
95 Source: MFi Explorer. Data as on 31 Dec 2020. 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 2017
Scheme Benchmark Alpha 11.00 Rolling Returns(%) Minimum 7.13 5.99 1.14 Maximum 10.07 9.70 0.37 9.98 10.00 Average 8.56 7.55 1.01
9.00
8.00 9.62
7.00
6.00
5.00
31-Jul-19 31-Jul-18 31-Jul-20
29-Jan-18 31-Jan-19 31-Jan-20
30-Jun-18 30-Jun-19 30-Jun-20
31-Oct-18 31-Oct-19 31-Oct-20
30-Apr-18 30-Apr-19 30-Apr-20
28-Feb-18 30-Sep-18 28-Feb-19 30-Sep-19 29-Feb-20 30-Sep-20
29-Dec-17 31-Dec-18 31-Dec-19 31-Dec-20
31-Aug-18 31-Aug-19 31-Aug-20
30-Nov-18 30-Nov-19 30-Nov-20
31-Mar-18 31-Mar-19 31-Mar-20
31-May-18 31-May-19 31-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 31st December 2020. 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 96 Kotak Medium Term Fund – Portfolio YTM at 7.16% & Current Duration Band of 3-4 Years
Incremental Earnings% Fund YTM (As on 31 Dec 2020) Respective Segment Yields (Spread) Kotak Medium Term Fund 7.16 3 Year AA 5.59 1.57
31-Dec-2020 Average Maturity (Years) Modified Duration (Years) Macaulay Duration (Years) 4.72 3.34 3.55
• Given our view of long pause in rate cuts, there is merit in owning long duration bonds given high carry. Kotak Medium Term Fund has currently duration band of 3-4 years which means it has mix of long and short end bonds. • At the same time, need for carry would lead to compression of credit spread in the 1-3 year segment. Kotak Medium Term Fund is a combination of long duration AAA bonds and sub AAA assets. • 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. 97 Source: Bloomberg. Data as on 31-Dec-2020. Past performance may or may not sustain in the future. Please refer to the disclaimer slides for performance details & scheme information Yield Curve Across The Segment
3 Year AAA Corporate Bond 3 Year AA Corporate Bond 3 Year AAA NBFC Corporate Bond 3 Year OIS 8.00
7.00
6.00 5.59
5.00 4.89 4.69 4.00 4.26 3.00 Dec-19 Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20
Incremental Earnings% Fund YTM (%) (As on 31 Dec 2020) Respective Segment Yields (%) (Spread) Kotak Banking & PSU Fund 5.17 3 Year AAA 4.69 0.48 Kotak Low Duration Fund 4.55 1 Year OIS 3.69 0.86 Kotak Credit Risk Fund 7.28 3 Year AA 5.59 1.69 Kotak Medium Term Fund 7.16 3 Year AA 5.59 1.57
Mutual fund investment are subject to market risks, read all scheme related documents carefully. Source: Bloomberg. Data as on 31 Dec 2020. Past performance may or may not sustain in the future. Please refer to the disclaimer slides for scheme details 98 Distributor Engagement
99 Prostart – Video Learning Platform
1.FINANCIAL PLANNING (10 VIDEOS)
2.SOCIAL MEDIA MARKETING (14 VIDEOS)
3.UNDERSTANDING RISK IN MF’S (5 VIDEOS)
4.TAXATION IN MF’S (2 VIDEOS)
5.NEW NORMAL (1 VIDEOS)
6.MAXIMIZING DIGITAL CONNECTIONS (2 VIDEOS)
7.HANDLING INVESTOR EMOTIONS (4 VIDEOS)
8.ACQUIRING NEW CLIENTS (3 VIDEOS)
9.THE NEXT WAVE (3 VIDEOS) 100 List Of Content Available For Co-branding On Businesshub -In 3 Different Bucket (Product , Concepts & Market Update)
Leaflet Animated Product Video SIP Return Leaflet
Product Creative Investmentor One-pager Market Outlook101 ANNEXURES
102 Stay Updated ! Follow us at Kotak Mutual Fund Click here to visit our YouTube Channel
Equity Market Outlook – Jan 2020 (English & Hindi) Product Video – Now Available In Different Languages Hindi Gujarati Marathi Telugu Kannada Tamil Malayalam Bengali How To Boost Business Using How to make money through equity asset allocation? Debt Market Outlook – Jan 2020 Business Hub (English)
Kotak International REIT Fund Why Kotak Balanced Advantage Fund is near its all-time high NAV despite market meltdown? English – Mr. Arjun Khanna & Ms. Lakshmi Iyer
Hindi - Mr. Arjun Khanna
Tamil – Ms. Lakshmi Iyer 103 SIP Pause Facility
Kotak Mahindra Mutual Fund Offers SIP Pause Facility
• We understand in times like these, some of you might have a high liquidity requirement.
• There is NO NEED TO STOP THE SIP, you can PAUSE THE SIP for a particular period of time.
• Please note: SIP Pause facility would allow existing investor to ‘Pause’ their SIP for a specified period of time i.e. Minimum 1 Month and Maximum 6 Months
Please consult your financial advisor or investment professional for investment decisions. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. 104 SIP Pause and Cancellation Facility
SIP Pause or Cancellation facility is provided to Investors in their post login section of Kotak Mahindra Mutual Fund App and Website.
Steps to Pause SIP Steps to Cancel SIP
Logon to Kotak Mutual fund Website/App Logon to Kotak Mutual fund Website/App Choose SIP Pause option from Menu Choose Systematic Transaction from Menu Select the Folio number Choose Cancellation of Systematic registration Choose the SIP that you would like to pause Choose Systematic Investment Plan You can Pause your SIP for a Maximum period Select the mode of SIP (Online/Offline) of 6 Installments Choose the SIP that you would like to Cancel
105 Business Hub
An Initiative by Kotak Mahindra Mutual Fund to Support Distributor's to Improve the efficiency in their Business Logon to https://kotakmfadvisor.com Key Features of Business Hub Include
Initiate Transaction Business Opportunity
Existing Investors SIP Ceased Inactive Investors Lumpsum Switch SIP Upcoming Maturity Redeem Zero Balance Investor SIP STP Equity Only Investor SWP Debt Only Investor New Investors ELSS Opportunity Lumpsum Liquid Investor SIP Zero Balance Folio And much more business data 106 Key Variables & Their Impact On Interest Rates Short Term Medium Term Key Variables Remarks –( Denotes fall in Interest Rates ) (3-6mo) (6mo-2yrs) Elevated Headline CPI was expected to fall in Q3FY21 below 4% however due to prolonged disruptions and elevated food prices, headline inflation continued to remain high. However, we expect the fall below 5% in Q4 and as per the Inflation projections it should remain in 4-5% band in 2021. RBI in the recent MPC has ignored high inflation hence overall benign sentiment to continue. INR has marginally appreciated in Nov’20 as strong flows in the capital markets and probably RBI intervention was not Rupee as aggressive as previous months. 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. Credit growth is expected to remain muted despite unlocking activity resumes in phases. Globally, situation is similar Credit Demand and this may accentuate the situation further. However, easy rates may help some demand pickup post the lock down is lifted. Till then, credit growth will not impact rates negatively. There are no surprises left from the borrowing calendar. All eyes are on the next year borrowing program but it’s a far off event. Overall as the tax data is improving, on a gross level next year the borrowing should drop as the activity Government Borrowing unlocks and growth improves. This will be bond positive. However, in near term RBI is giving good OMO buying support to take care of demand supply equation. RBI remains committed and reiterates for the support and is taking all possible steps, but pauses this time again for a RBI Policy cut . Recent steps i.e OMO( G sec + SDL), HTM hike will help fall in rates 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 and have decent scope of compression. 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. Contracting GDP means extremely slow credit meaning high liquidity hence system is likely to remain surplus . RBI Liquidity refrained from taking any measure to remove the excess liquidity this acted as huge positive for the market and lead to the rally. This will help rates remain lower and moreover its gets entrenched it will flatten the curve. 107 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 108 Disclaimers & Disclosures
109 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.
110 Kotak Dynamic Bond Fund As on 31 Dec 2020
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 8.88% 8.71% 0.17% 6.52% 29,224 28,648 22,185 Last 1 Year 11.67% 12.46% -0.79% 5.88% 11,171 11,250 10,590 Last 3 Years 9.98% 9.62% 0.37% 6.76% 13,315 13,182 12,176 Last 5 Years 9.76% 9.07% 0.69% 6.68% 15,941 15,442 13,823 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 31 Dec 2020
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 7.62% NA NA 6.65% 50,400 NA 41,259 Last 1 Year 10.48% 9.99% 0.49% 5.88% 11,051 11,002 10,590 Last 3 Years 9.31% 9.06% 0.26% 6.76% 13,071 12,980 12,176 Last 5 Years 8.81% 8.85% -0.04% 6.68% 15,261 15,290 13,823 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. 111 Kotak Low Duration Fund As on 31 Dec 2020
Kotak Low Duration NIFTY Low Duration Debt Kotak Low Duration NIFTY Low Duration Debt Mar 06, 2008 ALPHA CRISIL 1 Year TBill ## CRISIL 1 Year TBill ## Fund - Growth Index # Fund - Growth Index #
Since Inception 7.78% 8.33% -0.56% 6.52% 26,139 27,930 22,501 Last 1 Year 7.88% 6.58% 1.30% 5.88% 10,790 10,660 10,590 Last 3 Years 7.84% 7.39% 0.45% 6.76% 12,549 12,391 12,176 Last 5 Years 7.92% 7.45% 0.47% 6.68% 14,645 14,330 13,823 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 31 Dec 2020
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 8.96% NA NA NA 61,264 NA NA Last 1 Year 12.22% 12.90% -0.68% 9.23% 11,226 11,294 10,926 Last 3 Years 9.17% 9.49% -0.32% 8.55% 13,022 13,137 12,799 Last 5 Years 8.46% 9.01% -0.55% 8.01% 15,019 15,402 14,705
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. 112 Kotak Bond Short Term Fund on 31 Dec 2020
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 7.83% 8.02% -0.18% 6.09% 40,912 42,231 30,184 Last 1 Year 9.97% 10.13% -0.15% 5.88% 11,000 11,016 10,590 Last 3 Years 8.59% 8.63% -0.04% 6.76% 12,814 12,827 12,176 Last 5 Years 8.17% 8.30% -0.13% 6.68% 14,818 14,907 13,823 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 31 Dec 2020
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 8.33% 9.60% -1.27% 6.49% 28,959 33,800 23,056 Last 1 Year 9.63% 12.39% -2.76% 5.88% 10,966 11,243 10,590 Last 3 Years 8.88% 9.16% -0.28% 6.76% 12,918 13,016 12,176 Last 5 Years 8.58% 9.23% -0.64% 6.68% 15,102 15,554 13,823 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. 113 Kotak Credit Risk Fund As on 31 Dec 2020
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 8.20% 9.39% -1.19% 6.76% 23,155 26,018 20,074 Last 1 Year 6.60% 11.41% -4.81% 5.88% 10,661 11,144 10,590 Last 3 Years 7.24% 9.12% -1.88% 6.76% 12,339 13,001 12,176 Last 5 Years 7.74% 9.09% -1.35% 6.68% 14,520 15,454 13,823 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 31 Dec 2020
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 8.47% 9.43% -0.96% 8.73% 17,362 18,428 17,652 Last 1 Year 8.51% 12.90% -4.39% 9.23% 10,854 11,294 10,926 Last 3 Years 6.97% 9.56% -2.60% 8.55% 12,246 13,162 12,799 Last 5 Years 7.67% 9.04% -1.37% 8.01% 14,476 15,420 14,705 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. 114 Kotak Balanced Advantage Fund Performance as on 31 Dec 2020
Kotak Balanced Kotak Balanced Advantage NIFTY 50 Hybrid Composite NIFTY 50 Hybrid Composite Aug 03, 2018 ALPHA Nifty 50 TRI ## Advantage Fund - Nifty 50 TRI ## Fund - Growth Debt 50:50 Index # Debt 50:50 Index # Growth Since Inception 10.66% 11.88% -1.22% 10.22% 12,771 13,113 12,648 Last 1 Year 13.60% 16.50% -2.90% 16.09% 11,364 11,655 11,614 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 31 Dec 2020
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% 8.68% -0.59% 5.98% 37,792 41,488 26,999 Last 1 Year 13.81% 14.15% -0.34% 9.23% 11,385 11,419 10,926 Last 3 Years 8.10% 9.99% -1.89% 8.55% 12,642 13,319 12,799 Last 5 Years 9.48% 10.15% -0.67% 8.01% 15,735 16,223 14,705
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. 115 Kotak Asset Allocator Fund as on 31 Dec 2020
NIFTY 50 Hybrid NIFTY 50 Hybrid Kotak Asset Allocator Kotak Asset Allocator S&P BSE SENSEX TRI Aug 09, 2004 Composite Debt 50:50 ALPHA S&P BSE SENSEX TRI ## Composite Debt 50:50 Fund - Growth Fund - Growth ## Index # Index #
Since Inception 15.64% 12.25% 3.39% 15.75% 108,418 66,576 110,120 Last 1 Year 24.89% 16.50% 8.39% 17.11% 12,497 11,655 11,716 Last 3 Years 12.88% 11.32% 1.56% 13.22% 14,399 13,808 14,530 Last 5 Years 12.23% 11.84% 0.38% 14.25% 17,813 17,510 19,479 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 31 Dec 2020
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 9.69% NA NA NA 76,656 NA NA Last 1 Year 13.22% 11.80% 1.41% 9.23% 11,326 11,184 10,926 Last 3 Years 10.09% 10.05% 0.04% 8.55% 13,354 13,338 12,799 Last 5 Years 9.38% 9.10% 0.28% 8.01% 15,665 15,466 14,705 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.
116 Kotak Smallcap Fund Performance as on 31 Dec 2020
Kotak Smallcap Fund - NIFTY Smallcap 100 Kotak Smallcap Fund - NIFTY Smallcap 100 Feb 24, 2005 ALPHA Nifty 50 TRI ## Nifty 50 TRI ## Growth TRI # Growth TRI # Since Inception 15.48% 11.95% 3.52% 14.27% 97,998 59,944 82,916 Last 1 Year 34.10% 22.70% 11.40% 16.09% 13,421 12,277 11,614 Last 3 Years 5.23% -6.98% 12.21% 11.28% 11,659 8,044 13,790 Last 5 Years 12.81% 5.68% 7.13% 13.39% 18,279 13,183 18,754 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) 1,910,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on December 31, 2020 (Rs) 6,947,138 2,837,087 1,427,180 870,146 494,843 168,857 Scheme Returns (%) 14.72 16.40 14.87 14.84 21.77 83.14 NIFTY Smallcap 100 (TRI) Returns (%) 9.19 9.36 7.42 6.91 11.99 84.21 Alpha* 5.53 7.04 7.44 7.93 9.78 -1.06 NIFTY Smallcap 100 (TRI) (Rs)# 4,185,069 1,947,661 1,093,951 714,384 430,715 169,434 Nifty 50 (TRI) (Rs)^ 5,561,676 2,353,097 1,340,161 871,087 466,822 156,426 Nifty 50 (TRI) Returns (%) 12.32 12.91 13.11 14.89 17.61 60.67 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. 117 Kotak Standard Multicap Fund Performance as on 31 Dec 2020
Kotak Standard Kotak Standard Multicap Sep 11, 2009 Nifty 200 TRI # ALPHA Nifty 50 TRI ## Nifty 200 TRI # Nifty 50 TRI ## Multicap Fund - Growth Fund - Growth
Since Inception 13.47% 11.24% 2.24% 11.17% 41,782 33,350 33,136 Last 1 Year 11.75% 16.78% -5.02% 16.09% 11,179 11,683 11,614 Last 3 Years 7.53% 8.82% -1.29% 11.28% 12,441 12,896 13,790 Last 5 Years 12.82% 12.86% -0.04% 13.39% 18,287 18,322 18,754 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 Standard Multicap 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) 1,360,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on December 31, 2020 (Rs) 3,220,970 2,611,714 1,336,279 821,486 444,346 149,749 Scheme Returns (%) 14.38 14.86 13.03 12.51 14.15 48.94 Nifty 200 (TRI) Returns (%) 12.37 13.00 12.75 13.91 16.53 60.28 Alpha* 2.01 1.86 0.27 -1.40 -2.39 -11.35 Nifty 200 (TRI) (Rs)# 2,844,877 2,364,178 1,323,371 850,356 459,775 156,212 Nifty 50 (TRI) (Rs)^ 2,838,204 2,353,097 1,340,161 871,087 466,822 156,426 Nifty 50 (TRI) Returns (%) 12.33 12.91 13.11 14.89 17.61 60.67 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. 118 Kotak Emerging Equity Fund Performance As on 31 Dec 2020
Kotak Emerging Equity Nifty Midcap 100 TRI Kotak Emerging Equity Nifty Midcap 100 TRI Mar 30, 2007 ALPHA Nifty 50 TRI ## Nifty 50 TRI ## Fund - Growth # Fund - Growth # Since Inception 12.29% 12.57% -0.28% 11.19% 49,315 51,033 43,060 Last 1 Year 21.82% 22.95% -1.13% 16.09% 12,189 12,302 11,614 Last 3 Years 5.40% 0.50% 4.90% 11.28% 11,713 10,150 13,790 Last 5 Years 13.06% 10.40% 2.66% 13.39% 18,485 16,411 18,754 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) 1,660,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on December 31, 2020 (Rs) 5,397,703 2,988,474 1,427,548 843,300 466,016 156,463 Scheme Returns (%) 15.70 17.37 14.88 13.57 17.48 60.73 Nifty Midcap 100 (TRI) Returns (%) 12.71 12.98 11.41 10.58 14.46 69.69 Alpha* 2.99 4.38 3.47 3.00 3.03 -8.96 Nifty Midcap 100 (TRI) (Rs)# 4,269,633 2,361,940 1,261,132 782,908 446,356 161,473 Nifty 50 (TRI) (Rs)^ 4,040,322 2,353,097 1,340,161 871,087 466,822 156,426 Nifty 50 (TRI) Returns (%) 12.00 12.91 13.11 14.89 17.61 60.67 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.
119 Kotak Tax Saver Fund Performance as on 31 Dec 2020
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 11.77% 12.74% -0.97% 13.12% 53,769 61,256 64,474 Last 1 Year 14.90% 17.84% -2.94% 16.09% 11,495 11,789 11,614 Last 3 Years 7.58% 7.91% -0.33% 11.28% 12,458 12,573 13,790 Last 5 Years 12.34% 12.70% -0.36% 13.39% 17,907 18,193 18,754 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) 1,820,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on December 31, 2020 (Rs) 4,826,293 2,417,024 1,326,891 830,868 455,318 150,885 Scheme Returns (%) 11.89 13.42 12.83 12.97 15.85 50.91 Nifty 500 (TRI) Returns (%) 11.99 13.05 12.72 13.72 16.51 61.53 Alpha* -0.10 0.36 0.11 -0.74 -0.66 -10.62 Nifty 500 (TRI) (Rs)# 4,868,551 2,370,691 1,321,890 846,265 459,642 156,915 Nifty 50 (TRI) (Rs)^ 4,855,658 2,353,097 1,340,161 871,087 466,822 156,426 Nifty 50 (TRI) Returns (%) 11.96 12.91 13.11 14.89 17.61 60.67 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.
120 Kotak Equity Opportunities Fund Performance as on 31 Dec 2020
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 18.00% 15.18% 2.82% 15.43% 148,957 100,384 103,976 Last 1 Year 16.41% 16.78% -0.36% 16.09% 11,646 11,683 11,614 Last 3 Years 7.52% 8.82% -1.30% 11.28% 12,439 12,896 13,790 Last 5 Years 12.94% 12.86% 0.08% 13.39% 18,385 18,322 18,754
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) 1,960,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on December 31, 2020 (Rs) 7,102,823 2,529,074 1,347,501 839,821 458,903 150,723 Scheme Returns (%) 14.28 14.26 13.26 13.41 16.40 50.63 Nifty 200 (TRI) Returns (%) 12.48 13.00 12.75 13.91 16.53 60.28 Alpha* 1.80 1.26 0.51 -0.50 -0.13 -9.65 Nifty 200 (TRI) (Rs)# 5,980,837 2,364,178 1,323,371 850,356 459,775 156,212 Nifty 50 (TRI) (Rs)^ 6,025,117 2,353,097 1,340,161 871,087 466,822 156,426 Nifty 50 (TRI) Returns (%) 12.56 12.91 13.11 14.89 17.61 60.67 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.
121 Kotak Bluechip Fund Performance as on 31 Dec 2020
Kotak Bluechip Fund - S&P BSE SENSEX TRI Kotak Bluechip Fund - S&P BSE SENSEX TRI Feb 04, 2003 Nifty 50 TRI # ALPHA Nifty 50 TRI # Growth ## Growth ## Since Inception 19.53% 17.12% 2.41% 17.35% 244,312 169,630 175,796 Last 1 Year 16.32% 16.09% 0.23% 17.11% 11,637 11,614 11,716 Last 3 Years 9.14% 11.28% -2.14% 13.22% 13,009 13,790 14,530 Last 5 Years 11.57% 13.39% -1.82% 14.25% 17,298 18,754 19,479 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) 2,150,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on December 31, 2020 (Rs) 9,405,066 2,194,852 1,309,303 841,108 464,705 154,229 Scheme Returns (%) 14.70 11.61 12.45 13.47 17.29 56.78 Nifty 50 (TRI) Returns (%) 12.36 11.64 13.11 14.89 17.61 60.67 Alpha* 2.35 -0.04 -0.65 -1.42 -0.32 -3.89 Nifty 50 (TRI) (Rs)# 7,317,955 2,198,990 1,340,161 871,087 466,822 156,426 S&P BSE SENSEX (TRI) (Rs)^ 8,827,089 2,265,970 1,384,302 901,269 476,522 157,113 S&P BSE SENSEX (TRI) Returns (%) 14.11 12.21 14.01 16.27 19.07 61.89 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 benchmark122 return Kotak India EQ Contra Fund as on 31 Dec 2020
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 12.71% 13.92% -1.22% 13.73% 63,400 74,856 72,939 Last 1 Year 15.13% 16.03% -0.90% 16.09% 11,517 11,608 11,614 Last 3 Years 9.10% 9.98% -0.88% 11.28% 12,996 13,314 13,790 Last 5 Years 13.49% 13.17% 0.31% 13.39% 18,837 18,577 18,754 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) 1,860,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on December 31, 2020 (Rs) 5,251,957 2,404,370 1,325,991 849,799 453,037 153,336 Scheme Returns (%) 12.33 13.32 12.81 13.88 15.50 55.21 Nifty 100 (TRI) Returns (%) 12.42 13.11 12.96 14.31 16.84 59.17 Alpha* -0.10 0.20 -0.15 -0.43 -1.34 -3.97 Nifty 100 (TRI) (Rs)# 5,297,556 2,378,509 1,333,276 858,800 461,750 155,586 Nifty 50 (TRI) (Rs)^ 5,140,608 2,353,097 1,340,161 871,087 466,822 156,426 Nifty 50 (TRI) Returns (%) 12.09 12.91 13.11 14.89 17.61 60.67 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 123 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 Dynamic Bond Fund - Growth 11.67 12.46 9.98 9.62 9.76 9.07 8.88 8.71 Top 3 Kotak Floating Rate Fund - Growth 11.18 5.58 NA NA NA NA 9.23 6.34 Kotak Savings Fund - Growth 5.82% 5.58% 7.01% 7.12% 7.17% 7.25% 7.65% 8.01% Kotak Money Market Fund - Growth 5.65 5.16 7.11 6.55 7.14 6.82 7.32 7.46 Bottom 3 Kotak Liquid Fund - Growth 4.11 4.22 5.97 6.01 6.43 6.37 7.19 7.21 Kotak Overnight Fund - Growth 3.27 3.41 NA NA NA NA 4.41 4.53
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 Dynamic Bond Fund – Growth,*Name of the Benchmark - Nifty Composite Debt Index, Scheme Inception date is 26/05/2008. Mr. Deepak Agrawal has been managing the fund since 25/11/2012. 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.
124 Funds Managed by Mr. Harsha Upadhyaya
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 Equity Opportunities Fund - Growth 16.41 16.78 7.52 8.82 12.94 12.86 18.00 15.18 Kotak Tax Saver Fund - Growth 14.90 17.84 7.58 7.91 12.34 12.70 11.77 12.74 Kotak Standard Multicap Fund - Growth 11.75 16.78 7.53 8.82 12.82 12.86 13.47 11.24 Mr. Harsha Upadhyaya 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 Equity Opportunities Fund (Sep 9, 04), Kotak Standard Multicap Fund (Sep 11, 09), Kotak Tax Saver Fund (Nov. 23,'05). Kotak Equity Opportunities Fund - Growth, *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 Standard Multicap Fund - Growth, *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 34.10 22.70 5.23 -6.98 12.81 5.68 15.48 11.95 Kotak Emerging Equity Fund - Growth 21.82 22.95 5.40 0.50 13.06 10.40 12.29 12.57 Kotak Equity Hybrid Fund - Growth 15.34 16.88 7.28 11.50 11.03 12.44 9.44 10.24
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
125 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 13.60 16.50 NA NA NA NA 10.66 11.88 Kotak Equity Savings Fund - Growth 10.36 6.65 7.40 6.58 8.51 7.26 8.37 7.11 Kotak Equity Arbitrage Fund - Growth 4.32 2.36 5.55 4.46 5.83 4.85 7.17 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 Returns Scheme Benchmark Returns(%)^ (%)^* Returns(%)^ Returns (%)^* Returns(%)^ (%)^* Returns(%)^ Returns (%)^* Kotak India EQ Contra Fund - Growth 15.13 16.03 9.10 9.98 13.49 13.17 12.71 13.92 Kotak Focused Equity Fund - Growth 12.75 16.78 NA NA NA NA 15.03 14.49 Kotak India Growth Fund - Series 7 - Growth 11.15 16.09 NA NA NA NA 8.55 9.21
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.
126 Other Funds Managed by Mr. Harish Krishnan
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Names Benchmark Scheme Benchmark Scheme Benchmark Scheme Returns Scheme Benchmark Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ (%)^* Returns(%)^ Returns (%)^* Kotak Pioneer Fund - Growth 32.99 26.27 NA NA NA NA 31.39 23.40 Top 3 Kotak India Growth Fund - Series 5 - Growth 25.79 16.78 NA NA NA NA 10.85 10.07 Kotak Bluechip Fund - Growth 16.32 16.09 9.14 11.28 11.57 13.39 19.53 17.12 Kotak Focused Equity Fund - Growth 12.75 16.78 NA NA NA NA 15.03 14.49 Kotak Equity Savings Fund - Growth 10.36 6.65 7.40 6.58 8.51 7.26 8.37 7.11 Bottom 3 Kotak Infrastructure and Economic Reform 3.35 4.28 -4.85 -4.13 6.44 3.89 5.76 0.21 Fund - Growth
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.
127 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 Gold Fund - Growth 26.50 27.37 18.94 19.45 13.72 14.61 7.71 9.27 Top 3 Kotak Gold ETF 26.38 27.37 18.48 19.45 13.55 14.61 12.66 13.80 Kotak Equity Hybrid Fund - Growth 15.34 16.88 7.28 11.50 11.03 12.44 9.44 10.24 Kotak Gilt Fund - Growth 13.22 11.80 10.09 10.05 9.38 9.10 9.69 NA Bottom 3 Kotak Bond Fund - Growth 12.22 12.90 9.17 9.49 8.46 9.01 8.96 NA Kotak Equity Savings Fund - Growth 10.36 6.65 7.40 6.58 8.51 7.26 8.37 7.11
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 Gilt Fund - Growth, *Name of the Benchmark -NIFTY All Duration G-Sec Index, Scheme Inception date is 29/12/1998. 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. 128 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 - 43.59 16.78 NA NA NA NA 11.69 10.46 Growth Top 3 Kotak NV20 ETF 24.70 28.36 14.10 15.49 15.18 16.14 16.11 15.86
Kotak Sensex ETF 16.72% 17.11% 12.90% 13.22% 13.35% 14.25% 9.69% 10.86% Kotak Nifty ETF 15.57% 16.09% 11.01% 11.28% 12.60% 13.39% 10.20% 11.58% Bottom 3 Kotak Banking ETF -4.36 -2.77 6.54 7.26 13.05 13.61 9.22 9.67 Kotak PSU Bank ETF -30.87 -30.50 -22.51 -22.00 -9.99 -9.06 -3.92 -2.47
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.
129 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 Standard Multicap Fund Multi cap fund - An open-ended 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 130 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 An open ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 Fund year and 3 years Kotak Corporate Bond An open ended debt scheme predominantly investing in AA+ and above rated corporate bonds. Fund 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 An open ended debt scheme predominantly investing in Debt instruments of banks, Public Sector Undertakings, Public Financial Fund 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 131 Kotak Emerging Equity Fund
Kotak Tax Saver Fund
Kotak Equity Hybrid Fund 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 132 • Long term capital growth • Investment in open-ended diversified equity schemes and debt schemes of Kotak Kotak Asset Allocator Fund An addendum may be issued or website Mahindra Mutual Fund updated for new risk-o-meters
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them 133 Kotak Global Emerging Market Fund
• Long term capital growth • Investment in portfolio of predominantly equity & equity-related Kotak ESG Opportunities Fund securities generally focused on a few selected sectors across market An addendum may be issued or website capitalization updated for new risk-o-meters • Long-term capital growth Kotak International REIT FOF • Long term capital appreciation and income by investing in units of SMAM ASIA REIT Sub Trust Fund and/or other similar overseas REIT funds. *Investors should consult their financial advisors if in doubt about whether the product is suitable for them 134 Kotak Debt Hybrid Fund
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 135 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 136 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 137 Thank You
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