Monthly Market Outlook
August 2021 The views expressed in this presentation are through the period ending 05-August-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 sale1 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, recommendations to purchase or sell such securities. Content Page Numbers Global Economy 5 Indian Economy 17 Equity Markets 32 Valuation 37 Neutral Weight To Equities 43 Equity Investment Opportunity 46 Should We Invest In Gold 50 Interesting Facts About Crypto 53 Active V/S Passive Funds in Alpha Generation 57 SIP Has Performed Well And Generated Alpha 60 Debt Market Outlook 63 Debt Investment Opportunity 73 Distributor Engagement 77 Annexure 82
Disclaimers & Disclosures 85 2 Thank you
We extend our heartfelt gratitude for your support
Kotak Global Innovation Fund of Fund
^Kotak Global Innovation Fund Of Fund will invest in units of Wellington Global Innovation Fund or any other similar overseas mutual fund schemes/ETFs. The Wellington Global Innovation Fund managed by Wellington Management, and the companies mentioned here are forming part of its portfolio as of 31st May 2021. The portfolio construction is the purview of the fund manager and may change from time to time. Past 3 Performance may or may not sustain in future. 4 ^Investor folios as of 1st Aug 2021 #AUM (Assets Under Management) as of 2nd Aug 2021. Mutual Fund Investments are subject to market risks, read all scheme related documents carefully. Global Economy
5 Central Banks Running Printing Presses 24*7
Source: CrossBorder Capital 6 Global Debt Hitting A Record High
As of Q1’21 global debt equaled $289tn, equivalent to 3.6x world GDP.
Source: BofA Global Investment Strategy, Bloomberg 7 Liquidity Going Into Financial Assets
Equity & debt securities (as % global GDP)
Source: BofA Global Investment Strategy, BIS, IMF 8 US Inflation Expectation Rising
Source: BofA Global Investment Strategy, Bloomberg 9 Global M-cap Soars To A Record High
Source: Bloomberg, CEIC, MOFSL 10 No Sharp Pullback In S&P 500 Since Sep 2020
Three 5% pullbacks on an average per year, but none since Sept’20
Source: LPL Research, Ned Davis Research 11 Tech Giants Report Record-breaking Profits
Net income of selected tech companies in the second calendar quarter of 2021 vs. 2020
Source: Statista, Company Filings 12 Role Reversal: Healthcare & Tech vs. Financials & Energy
Source: BofA Global Investment Strategy, MSCI, Refinitiv 13 Will Global Inflation Peak Out In 2nd Half FY22 ?
Historically, headline inflation lags currency in circulation (CIC) by 3-5 months; relationship very weak in recent years
Global CPI inflation is used with a four-month lead
Source: CEIC, various national sources, MOFSL 14 Will Fed Raise Interest Rates Around End Of 2022 ?
Source: Citi Research 15 Will This Sustain ?
1. Stocks: All-time high 2. Home Prices: All-time high 3. Core Inflation: Highest since 1992 4. Job Openings: All-time high 5. Junk Bond Yields: All-time low 6. Fed: We need 0% rates for a few more years & trillions more in bond buying to boost asset prices and increase inflation
16 lndian Economy
17 Headlines In July 21
Unemployment rate falls to 4-month low of 6.95% in July
India PMI manufacturing up at three-month high in July as lockdowns ease
India exports hit a record $35.2 billion in July
Mumbai property registrations set a new 10-year high record in July 2021
18 Source: business-standard.com, economictimes.indiatimes.com, livemint.com, financialexpress.com, Headlines In July 21
Economic recovery pushes hiring intent to 15 month high in Q2
RBI begins publishing Digital Payment Index data; March sees index rising by 30% over last year
India's power consumption reaches pre-Covid level in July
Indian Railways registers highest ever freight loading in July 2021
19 Source: economictimes.indiatimes.com, business-standard.com, livemint.com, aninews.in, telegraphindia.com Manufacturing PMI Returns To Expansion Zone
53.1
48.1
Source: IHS Markit, Bloomberg Quint 20 GST Collections Recover To ₹1.16 Lakh Crore In July
Source: Bloomberg 21 Broad Based Economic Recovery Visible
Daily passenger vehicle registrations rose 25.7% State wise change in retail and recreational activity in Jul 2021
Source: CLSA 22 BRI Is Now Only ~5% Below Its Pre-pandemic Level
Source: Google, Apple, CMIE, Bloomberg and Nomura Global Economics 23 Monsoon Expected To Be Normal
Source: IMD, Jefferies 24 Unemployment Rate Falls To 4-month Low Of 6.95% In July
CMIE Series of Unemployment: Unemployment Rate : 30 day Unemployment Rate unemployment rate (UER) (>=15) moving average (%) 05 Jul 2021*
25 Source: CMIE.com India Likely To Be The Fastest Growing Major Economy In The World
IMF Growth Projections ( Year-on-Year, in %)
2021 2022 Country Earlier Now Earlier Now
India 12.5 9.5 6.9 8.5
China 8.4 8.1 5.6 5.7
US 6.4 7 3.5 4.9
World 6 6 4.4 4.9
EU 4.4 4.6 3.8 4.3
For India, 2021 and 2022 stand for FY22 and FY23, respectively
26 Source: IMF Centre's Fiscal Condition Is Much Better Than Budgeted
Q1 FY21 Net Tax Revenue 3x of Last Year
Apr-Jun as % of FY 35% 100%
90% 30% 80%
25% 70%
60% 20% 50% 15% 40%
10% 30% Deficit at 18% of 20% 5% FY22 based on Budgeted Estimates full year target 10% Receipts Expenditure Deficit(RHS)
0% 0%
1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Source: Credit Suisse 27 Government Is Spending Money
Government spending was up 100.5% in Jun 21 vs. Jun 19 YoY
Source: CLSA, Controller General of Accounts 28 Active Cases Are Rising Again
Average Growth rate in active cases ( in last 7 days)
Source: Covid.19india.org 29 Will Vaccinations Reduce Hospitalization Need ?
Source: JHU CSSE, ONS, Goldman Sachs Global Investment Research 30 How Will 3rd Wave Pan Out?
Business Resumption Period PMI GST Index(NIBRI)
Pre Covid ( Feb 20) 54.5 1,054 100
1st Wave (Apr 20) 27.4 322 44.9
2nd Wave (May-21) 50.8 1,027 60.3
3rd Wave ?
Source: Bloomberg, Nomura India Business Resumption Index (NIBRI) 31 Equity Markets
32 Small & Midcaps Have Outperformed Largecap
Performance as on 31st July 2021 Sectoral Performance CY21 YTD (%)
125 77% 110
100
80 75 48%
33% 50 42 27% 26%
25 13% 12% 12% 12% 14 11% 12 13 11 13 13 12 12 11 9% 9% 8% 8 5% 3 4% 0 0
Nifty-50 Nifty Midcap 100 NSE SmallCap 100
Auto
Bank
FMCG
Realty
Media
Energy
Metals
Pharma
Secvices NIFTY 50
1m returns 1y returns 3 yr CAGR 5 yr CAGR 10 yr CAGR Financials
IT Services
Midcap 100
Smallcap 100 Private Banks
Source: Bloomberg, Axis Capital. As on 31st July, 2021. Past performance may or may not be sustained in the future. 33 EPS Estimates Have Been Revised Upwards
950 2019E 2020E 2021E 2022E 2023E 900 850 800 794 799 750 735 769 700 695 650 678 600 550 500 526 480 450 453
400
Feb-18 Feb-19 Feb-20 Feb-21
Nov-17 Nov-18 Nov-19 Nov-20
Aug-17 Aug-18 Aug-19 Aug-20 Aug-21
May-21 May-18 May-19 May-20
34 Source: Kotak Institutional Equities estimates Retail Investors Are Large Buyers
Source : AMFI, Capitaline, Bloomberg, CMIE, UBS. Note that the data prior to Jun-19 is half yearly. 35 Sare Jahan Se Accha Hindustan Hamara
12 months FPI flow and (August’20 to July’21)
(USD bn) India, 31.3 Brazil, 17.6 Indonesia, (0.7) Malaysia, (2.7) Thailand, (4.2) South Africa, (7.8) Philippines, (7.9) Taiwan, (14.7) South Korea, (20.4)
Source: Axis Capital 36 Valuation Wise – Neutral Weight Momentum Wise – Neutral Weight
Every Correction Is An Opportunity To Increase Allocation To Equity
Neutral weight doesn't mean selling equity. It means profitbooking if any on excess/overweight position.
37 Market Cap-To-GDP Ratio –Above Long Term Average But Below Global Average
World Market Cap to GDP Ratio is 138%
Average of 77% for the period 104 104
88 81 83 79 80 71 66 69 64
56
FY13 FY11 FY12 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22E
Source: Motilal Oswal 38 Valuations Are At The Higher End Of Fair Value
NIFTY P/E (x) - 1 Year Forward NIFTY P/B (x) - 1 Year Forward
28 4.5
23 3.8 Average: 18.0x 20.5 Average: 2.6x 3.0 18 3.0
13 2.3
8 1.5
Jul-06 Jul-07 Jul-08 Jul-09 Jul-10 Jul-11 Jul-12 Jul-13 Jul-14 Jul-15 Jul-16 Jul-17 Jul-18 Jul-19 Jul-20 Jul-21
Jul-06 Jul-07 Jul-08 Jul-09 Jul-10 Jul-11 Jul-12 Jul-13 Jul-14 Jul-15 Jul-16 Jul-17 Jul-18 Jul-19 Jul-20 Jul-21
Source: Motilal Oswal 39 India Inc. Reporting Strong Profits
Reported PAT for NSE 500 Street Expectations Quarter Annualised PAT Rs in Crore (FY22) Dec 19 1,22,235 Mar 20 53,406 June 20 32,400 Sept 20 1,76,786 7,07,144 Dec 20 2,09,795 8,39,180 Mar 21 2,10,202* 8,40,808 9,20,000 Jun 21(233 Companies) 1,16,071 TTM ( As on Mar 21) 6,29,183 Market Cap (30/07/21) 2,16,68,801 PE Ratio ( PAT TTM Mar 34.4 25.7 23.5 21)
* Highest Ever Quarterly Profit by India Inc. 40 Source: ICICI-Sec & Bloomberg Profits Rise While Interest & Other Costs Fall
% share in Weighted Contribution of Components to Net Corporate Sales Growth in FY 21 - Major Sectors Sector Tax Interest Expenditure Cement 59% -19% -15% Tyres 59% 5% -35% Consumer Durables 53% -23% -29% Petrochemicals 41% -1% -56% IT - Software 28% -3% -40% Steel 21% -7% -16% Packaging 17% -6% 27% Readymade Garments 17% -7% -99% Pharmaceuticals 14% -6% 30% Healthcare 13% -26% 91% FMCG 13% -3% 17% Commodity Brokers 11% -3% 40% Agro Chemicals 10% 0% 63% Textiles 8% 0% -58% Refineries 4% 0% -115% Gas Distribution 4% 0% -95% Non Ferrous Metals 4% 1% 29% Bearings 3% -6% -162% Logistics 3% 0% -145% Paper -4% -2% -59% Average 19% -5% -31% Source: SBI Research, Cline, Expenditure includes Raw Materials, Input 41 India Inc. Cut Debt Like Never Before
42 Recommendation : Neutral Weight To Equities
Marginally OW Large cap
Marginally UW Small and Midcap
Neutral Weight Equity
43 Time To Be Marginally Underweight Smallcaps ?
BSE Small Cap Index as a % of Sensex Index 100
90
80 Jan’08 Broad Markets Corrected 70 Nov’17 Nov’10 Smallcaps Corrected 60 Smallcaps Corrected
50
40
30
20
10
0 Apr-03 Jul-05 Oct-07 Feb-10 May-12 Sep-14 Dec-16 Apr-19 Jul-21
Source: Capitaline 44 Sometimes Profits Get Missed By This Much
45 Equity Investment Opportunity
Received SEBI approval for Kotak Multicap Fund
46 Shift Money To Alpha Generating Large Caps
7 Years 5 Years 3 Years 1 Year
Kotak Bluechip Fund – Direct Plan 14.69 14.54 15.25 48.77
Nifty 50 TRI 11.94 14.18 13.01 43.79
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)
Source: ICRA. As on 31st May 2021. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of the fund.
47 Kotak Asset Allocator Fund – Fill It, Shut It, Forget It
NIFTY 50 Hybrid Kotak Asset Allocator Period Alpha Fund - Growth Composite Debt 50:50 Index
Last 1 Year 38.23% 23.46% 14.77%
Last 3 Years 18.32% 12.24% 6.08% Last 5 Years 14.21% 11.66% 2.55% Since Inception 16.19% 12.30% 3.89%
• Higher Flexibility of allocation (0-100% in Equities) • Current equity allocation is 59.39% Less than 1 year Absolute returns, Greater than 1 year Compound Annualized returns
Source: ICRA. As on 31st July 2021. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance & scheme information of the fund. 48 Invest In Innovative Companies
Local + Global Global Kotak Pioneer Fund Wellington Global Innovation Fund (Underlying Fund of Kotak Global Innovation Fund of Fund) Returns (%) Reopens for subscription on 5th Aug 2021^ 70 63.49 60 Returns (%) 50.36 40.00 36.13 50 35.00 32.47 29.31 40 35.93 30.00 25.00 30 26.14 20.00 16.39 20 15.00 10 10.00 0 5.00 1 Year Since Inception (31/10/2019) 0.00 1 Year Since Inception (16/02/2017) Kotak Pioneer Fund Underlying Fund: Wellington Global Innovation Fund Benchmark: 85% IISL Kotak India Pioneering Innovations + 15% MSCI Benchmark: MSCI All Country World Index TRI ACWI Information Technology Index TRI The performance provided relates to the underlying fund and this should not be construed as the performance of Kotak Global Innovation Fund of Fund whose performance may vary due to reasons such as additional expenses, foreign exchange fluctuations, allocation by fund manager in the underlying fund, etc. Less than 1 year Absolute returns, Greater than 1 year Compound Annualized returns. Kotak Pioneer Fund: As on 30th July 2021. Source: ICRA. Wellington Global Innovation Fund: ^NFO closed on 22nd July 2021 and reopened for subscription on 5th Aug 2021. There is no performance history of Kotak Global Innovation Fund of Fund. Data is in INR. As on 30th July 2021. Benchmark returns are reported as total returns net of withholding taxes. Underlying Fund returns are calculated by converting USD to INR using RBI reference rates. 2,3 year of underlying fund (benchmark) are 40.19% (24.28%) and 27.83% (16.83%) respectively. Source: Wellington Management, MSCI. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult49 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. Should We Invest In Gold ?
50 Gold in Focus – News Headlines
Major Russian fund to ditch dollar, buy euros, yuan, gold
Gold prices could double in 3-5 years, says fund manager who predicted record rise in 2016
51 Source: Money Control, Mint Gold
• We have highlighted risk of import duty being reduced to our gold call
• The same has played out in budget FY 22 as import duty rationalised from 12.5% to 10%. ( 7.5 % Import Duty Plus Agriculture Cess )
• If the import duty is reduced further, to that extent there will be a drop in Rupee Gold prices instantly.
• Subject to that volatility we remain bullish on Gold on a longer term basis.
• Gold has corrected in recent times providing accumulation opportunity
52 Interesting Facts About Crypto
53 Warren Buffet on Bitcoin
"It's a mirage basically. It's a very effective way of transmitting money and you can do it anonymously and all that. A check is a way of transmitting money too. Are checks worth a whole lot of money just because they can transmit money? I hope Bitcoin becomes a better way of doing it but you can replicate it a bunch of different ways. The idea that it has some huge intrinsic value is just a joke in my view.“
Source: CNBC 54 Benford’s Law Suggests Bitcoin’s Price Manipulation
55 Source: Bloomberg Contra View By Nassim Taleb
56 Active V/S Passive Funds in Alpha Generation
57 Index Funds Underperforms Index
Fund Category 1 Year 3 Year* 5 Year* Nifty 50 TRI 44.16 12.90 14.18 Category Average 43.46 12.35 13.45 Alpha -0.70 -0.55 -0.73
S&P BSE Sensex TRI 41.41 13.14 14.73 Category Average 40.67 12.65 14.09 Alpha -0.74 -0.49 -0.64
Nifty Midcap 100 TRI 81.24 14.84 14.66 Category Average 79.13 14.39 13.58 Alpha -2.11 -0.45 -1.08
Source: ICRA. As on 31st July 2021. Source: Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please consult your financial advisor or other professionals before acting on any information in this communication. Please refer to disclaimer slides for detailed performance58 & scheme information of the fund. Active Funds Do Generate Alpha
Scheme Name (Dir. – Growth ) 7 Years (%) 5 Year (%) 3 Year (%) 1 Year (%)
Kotak Small Cap Fund 10.28 8.85 14.48 10.27 Kotak Infrastructure & Economic Reform Fund 9.04 6.76 6.94 24.19 Kotak Emerging Equity Fund 5.96 4.25 6.48 0.96 Kotak Equity Opportunities Fund 4.33 2.34 4.34 5.76 Kotak Tax Saver Fund 3.92 1.79 3.88 3.67 Kotak Flexicap Fund 3.81 0.98 0.75 -1.49 Kotak India EQ Contra Fund 3.13 3.27 2.89 9.16 Kotak Blue chip Fund 2.71 0.36 2.19 4.71 Kotak Equity Hybrid Fund -- 1.6 3.47 21.5 Kotak Pioneer Fund ------15.8 Kotak Focused Equity Fund ------2.37 Kotak Balanced Advantage Fund ------0.18
Source: ICRA. As on 31st July 2021.*Kotak India Growth Fund - Series IV benchmark is Nifty 200TRI 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.59Please refer to disclaimer slides for detailed performance & scheme information of the fund. SIP Has Performed Well And Generated Alpha
60 Positive SIP Alpha Across All Periods in July-21
As on 30 July 2021 Returns Alpha
10 Yr 7 Yr 5 yr 3 yr 1 yr 10 Yr 7 Yr 5 yr 3 yr 1 yr
Kotak Small Cap Fund 22.75 23.38 28.75 49.78 110.72 6.80 6.87 8.08 8.80 2.69
Kotak Emerging Equity Fund 21.66 20.02 22.94 36.86 77.18 4.34 3.13 3.44 3.45 2.53
Kotak Equity Opportunities Fund 16.97 16.54 18.65 27.48 52.19 2.10 1.55 1.60 3.78 8.57
Kotak Tax Saver Fund 16.29 16.12 18.40 26.87 52.97 0.99 0.63 0.68 1.45 4.76
Benchmark Details: Kotak Small Cap Fund – Nifty Small Cap 100 TRI, Kotak Emerging Equity Fund – Nifty Midcap 100 TRI, Kotak Equity Opportunities Fund – Nifty 200 TRI, Kotak Tax Saver Fund – Nifty 500 TRI
Source: MFi Explorer. Returns are for regular plan. Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication. *Please refer to disclaimer slides for scheme information and detailed performance of the fund 61 SIP Top-Up = Bigger Corpus
50% Increase in Corpus with just 10% increase in SIP amount each year
SIP Amount 20,000 SIP Top-Up 10% increase in Monthly SIP amount every year
15 year SIP in Kotak Small Cap Fund SIP Top-Up Normal SIP Difference Corpus Accumulated 3 Crore 2 Crore 1 Crore Total SIP Cost 76 Lakh 36 Lakh 40 Lakh XIRR (%) 19.8% 18.9% 0.9%
15 Year SIP in Nifty Small Cap 100 TRI SIP Top-Up Normal SIP Difference Corpus Accumulated 2 Crore 1 Crore 1 Crore Total SIP Cost 77 Lakh 36 Lakh 40 Lakh XIRR (%) 13.9% 12.9% 1% Source: MFi Explorer. Returns are for regular plan. Data Period – 01-Aug-06 to 30-Jul-21 The above Investment illustration is for illustration purpose only and should not be construed as a promise on minimum returns and safeguard of capital. 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. 20,000/- on the 1st working day of every month for Normal SIP. Each year there is a 10% increase in monthly SIP amount in Top-Up SIP. 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 beginning62 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 Debt Market Outlook
August 2021 RBI Maintains Easy Liquidity
India Banking Liquidity 2500
500
-1500
-3500
-5500
-7500 -8135.91
-9500
Jul-18 Jul-16 Jul-17 Jul-19 Jul-20 Jul-21
Jan-17 Jan-18 Jan-19 Jan-20 Jan-21
Mar-17 Mar-21 Mar-18 Mar-19 Mar-20
Nov-16 Nov-17 Nov-18 Nov-19 Nov-20
Sep-16 Sep-17 Sep-18 Sep-19 Sep-20
May-17 May-18 May-19 May-20 May-21 Liquidity remains more than comfortable – almost close to May’20 peak levels 64 Source: Bloomberg. GSAP – Government Securities Acquisition Program. Negative denotes surplus. Higher Inflation – A Transitory Hump?
Inflation momentum is broken for now. We believe central bank may not hasten to act and rush to the rate hike pedal. Over all inflation has made it tough for the RBI to keep low for longer.
8.00
7.00 6.30
6.00
5.00
4.00 6.26 3.00
2.00 CPI Core CPI 1.00
0.00
Oct-17 Apr-18 Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Apr-21
Jun-17 Jun-18 Jun-19 Jun-20 Jun-21
Feb-18 Feb-19 Feb-20 Feb-21
Dec-20 Aug-17 Dec-17 Aug-18 Dec-18 Aug-19 Dec-19 Aug-20 We expect a prolonged pause in repo rate and accommodative stance from the MPC in FY22 while reverse repo may go up towards the end of year. Source:Source: Bloomberg; MOSPI, RBI, InternalICRA Research, 65 Carry Strategy Is Order Of The Day
A strategy that is adopted when your yield curve is steep. One invests at that part of the curve which is cheap in valuation i.e. higher yield that is pricing in more negatives than what may actually happen.
66 Carry Opportunity Likely To Exist In 5-7 Year Bucket
Gilt Yield Curve 7.0 7.1 Gilt Yield Curve in Dec 6.9 7.0 7.0 6.7 6.6 2019 (when Repo was at 6.5 6.6 7.2 5.15%) 6.2 6.4 6.8 6.8 6.5 6.4 5.8 6.2 5.5 6.1 6.2 5.2 5.0 5.7 The sweet spot of the curve – good amount 5.4 of future rate hikes are prized in 5.0
4.2 Current Gilt Yield Curve (when Repo is 4%) 3.7 3.5
3.4 Current Curve 31st Dec 2019
3M 6M 1Y 2Y 3Y 4Y 5Y 6Y 7Y 8Y 10Y 11Y 14Y 15Y 40Y
67 Source: Bloomberg, RBI, Internal Research. As of 31st July 2021. Is Steep Curve Pricing In Rate Hike ?
Steep Yield Curve is acting as a hurdle to the economic recovery
7.50
7.00 Liquidity transmission from short end of the curve to long end of the curve is necessary for yield curve to flatten 6.50
6.00
5.50
5.00
4.50 Yield Curve is getting steeper because of excess 4.00 liquidity in the market
3.50 30-Jun-21 31-Jul-21 3.00 3M 6M 2Y 3Y 4Y 5Y 6Y 7Y 8Y 10Y 11Y 14Y 30Y 40Y 68 Source: Bloomberg Carry Is Even Higher In State Development Loans (SDLs)
7.30 6.96
6.80 6.23 6.30 6.19 5.80 5.52
5.30 5.64 4.75 4.80 5.04
4.30 4.11 4.26 India SDL Curve India Gilt Curve 3.80 3.84 3.30 1 Yr 2 Yr 3 Yr 5 yr 10 yr
69 Source: Bloomberg, CCIL. As on 20th July 2021. SDLs are sovereign securities issued by State Governments. Gap To Narrow Between 3M T-Bill And 10Y
Spread compression shall help Floating Rate Bonds to outperform Fixed Rate Bonds in a rising interest rate scenario
In a normal liquidity scenario – This spread was ~100bps
70 Source: Bloomberg, IIFL Research. Note: Monthly average for yields used for the above chart RBI Is Doing A Miracle
Foreign Exchange Interest Rates
Financial Market Stability
Liquidity
Massive Govt. Borrowing Programme
Hasty withdrawal of easy policy can undo gains: RBI Governor Shaktikanta Das 71 Debt Outlook
• CPI inflation is expected to average between 5.50% to 5.75% in FY22, normalization likely to happen
• Govt announced extra need for INR 1.58 tn to pay states but didn’t change the borrowing program
• RBI is actively managing yields. Combination of GSAP, OMOs / OTs may keep the yield curve anchored at current levels. 10 year likely to trade in the band of 6-6.25% for the next 3 months
• VRRR (Variable Rate Reverse Repo) at the short end and G-SAP at the mid to long end of the curve may mean some yield curve flattening on the way
• Liquidity Normalization – If RBI announces additional VRR for more than 14 days, it may pose risk to the front end of the curve. On the other hand if the same is supported with additional GSAP purchase, it will help flatten the curve.
This may be negative for the front end and positive for FRBs and mid-to-long end of the curve
• Carry Opportunity likely to exist in the short-to-mid-end of the yield curve (2-7yr bucket)
• Government is conservative on revenue side, hence fiscal can be a lot better than what market is fearing.
• The Long end of the curve shall keep reacting to G SAP announcement and shall offer reasonable trading opportunity
• 4-6 year point of Gilt /SDL seems attractive as its pricing in removal of liquidity and hike in rates. This segment enjoys higher natural demand over supply, hence it likely to be less volatile
• Investors with long-term horizon can look to invest in the Gilt and Dynamic Bond Funds space. Investors looking for relatively higher YTM can consider Bond, Floating Rate, Medium-Term Funds
• Investors are recommended stay invested across fixed income strategies that is in line with your investment horizon and risk appetite 72 Debt Investment Opportunity
73 Investors To Sync Portfolio Duration With Their Investment Horizon
As on 31st July 21
Fund YTM (%) AVG Maturity Investment Horizon
Kotak Money Market Fund 3.83 0.37 6 months – 9 months
Kotak Saving Fund 3.76 0.45 3 months – 6 months
Kotak Low Duration Fund 4.51 1.76 6 months – 9 months
Kotak Corporate Bond Fund 5.11 2.63 1 – 1.5 years
Kotak Bond Short Term Fund 5.21 3.24 1 – 3 years
Kotak Banking & PSU Debt Fund 5.61 4.70 2 – 3 years
Kotak Dynamic Bond Fund 6.30 7.54 2 – 3 years
Kotak Bond Fund 6.43 7.36 2 – 3 years
74 Source: Internal Analysis Kotak Dynamic Bond Fund Has Outperformed Over Long-Term Since 2018
11.00 Scheme Benchmark Alpha Minimum 7.13 5.99 1.14 9.86 Maximum 10.07 10.50 -0.43 10.00 Average 8.77 8.00 0.77
9.00 9.44
8.00
7.00
6.00
5.00
Jul-18 Jul-19 Jul-20 Jul-21
Oct-18 Apr-19 Oct-19 Apr-20 Oct-20 Apr-21
Jan-19 Jun-19 Jan-20 Jun-20 Jan-21 Jun-21
Feb-19 Mar-19 Feb-20 Mar-20 Feb-21 Mar-21
Aug-18 Sep-18 Nov-18 Dec-18 Aug-19 Sep-19 Nov-19 Dec-19 Aug-20 Sep-20 Nov-20 Dec-20
May-19 May-20 May-21 Kotak Dynamic Bond Fund - Reg - Growth NIFTY Composite Debt Index
Source: ICRA. As on 31st July 2021. The above returns is daily rolling returns for last 36months. Past Performance is not a guarantee for future return. Mutual fund investments are subject to market risks, read all scheme related documents carefully. Please refer to the disclaimer slides for detailed performance of the fund 75 Hybrid Schemes For Conservative Investors
Funds 1 Year 3 Years* 5 Years* Kotak Debt Hybrid Fund 19.05% 10.96% 9.23% Alpha 9.16% 0.39% 0.00%
In the last 12 months, Kotak Debt Hybrid Fund has received 20% of the net flows in the debt hybrid fund segment*
Kotak Equity Savings Fund 15.54% 7.98% 8.53%
Alpha 2.15% 0.78% 1.18%
Kotak Equity Hybrid Fund 49.17% 14.65% 12.63%
Alpha 19.70% 2.02% 0.08%
Data as on 31st July 2021. Source: MFi Explorer. Returns are for regular plan. CRISIL Hybrid 85+15 Conservative Index is the benchmark for Kotak Debt Hybrid Funds, 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 TRI Index is the benchmark for Kotak Equity Savings Fund , NIFTY 50 Hybrid Composite Debt 65:35 Index Index is the benchmark for NIFTY 50 Hybrid Composite Debt 65:35 Index. 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 76 slides for detailed performance & scheme information of thefund.* Industry data is from AMFI and Kotak Debt Hybrid data is from CAMS Distributor Engagement
77 Stay Updated! Follow Us At Kotak Mutual Fund - Click here to visit our YouTube Channel. 37,258 views on our page in July-21
Equity Market Outlook – August Kotak Global Innovation Fund of Fund Kotak Bond Fund 2021
Debt Market Outlook – July Kotak Small Cap Fund Market Outlook – English & Hindi
English Hindi
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81 Annexures
82 Key Variables & Their Impact On Interest Rates
Short Term Medium Term Key Variables Remarks –( Denotes fall in Interest Rates ) (3-6mo) (6mo-2yrs)
Inflationary momentum has been broken and started receding. Upcoming data is also expected to be softer Inflation which may give strength to the MPC to stay put on rates to boost growth. Contrary to the month of June July was better with flows coming and relatively better trade data INR Rupee appreciated. RBI has been accumulating FX on front foot and this has been adding to liquidity. Liquidity glut is expected to keep front end of the curve much softer. Second wave has put a question mark on recovery hence credit demand with fear of third wave sustained Credit Demand credit recovery may take time to gain enough momentum to impact credit spreads. Having said that as the spread are already compressed so there is no case for compression as well.
Govt announcing extra need for INR 1.58 tn to pay states has put extra pressure on the bond market however they decided not to tap the market for the same immediately which was positive however market did Government Borrowing not react on the positive surprise as it expected the amount to be adjusted in second half calendar if not then we may rally in rates in H2. Overall curve is expected to flatten. Given the impact of second wave still getting unfolded the RBI is expected to remain accommodative for RBI Policy more time than previous envisaged. RBI has shown commitment in the past and there is no reason for taking the rates higher in a hurry.
The rout is the global bond has halted for now as the second wave is posing a big threat. No additional visible Global Event Risk risk for bonds in near term.
While some green shoots seen but on an overall basis the economy is still struggling. Short term spreads Corporate bond Spread have seen decent compression, unlikely to compress further meaningfully.
We have seen some traction coming in near term with revival of flows from the FPI in debt. However its Debt FII flow seems real flows will only be seen with index inclusion.
Despite very high liquidity, more than 1-year yield is moving higher as there is fear of RBI removing Liquidity accommodative stance sooner than later. However we believe large part of the up move is done in 4-6 year curve. 83 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 Corporate Earnings sequential improvement as Indian economy unlocks
India stands out among global asset classes with prospects of FII Flow strong 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 Supply of paper to create supply in markets
Policy/Reform Initiative Expect improved reform momentum
Signify Growth 84 Disclaimer & Disclosure
85 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.
86 Kotak Dynamic Bond Fund As on 30 Jul 2021
Kotak Dynamic Bond NIFTY Composite CRISIL 10 Year Gilt Kotak Dynamic Bond NIFTY Composite CRISIL 10 Year Gilt May 26, 2008 ALPHA Fund - Growth Debt Index # ## Fund - Growth Debt Index # ## Since Inception 8.55% 8.46% 0.09% 6.86% 29,491 29,164 24,000 Last 1 Year 4.07% 4.90% -0.83% 2.23% 10,406 10,488 10,223 Last 3 Years 9.43% 9.85% -0.42% 8.71% 13,103 13,255 12,847 Last 5 Years 8.31% 7.99% 0.32% 6.50% 14,914 14,692 13,708
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 Bond Fund As on 30 Jul 2021 NIFTY Medium to NIFTY Medium to Kotak Bond Fund - CRISIL 10 Year Gilt Kotak Bond Fund - CRISIL 10 Year Gilt Nov 25, 1999 Long Duration Debt ALPHA Long Duration Debt Growth ## Growth ## Index # Index # Since Inception 8.72% NA NA NA 61,291 NA NA Last 1 Year 3.01% 4.60% -1.59% 2.23% 10,300 10,459 10,223 Last 3 Years 8.72% 9.88% -1.16% 8.71% 12,850 13,267 12,847 Last 5 Years 6.58% 7.91% -1.32% 6.50% 13,760 14,636 13,708
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. 87 Kotak Pioneer Fund as on 30 Jul 2021
85% IISL Kotak India 85% IISL Kotak Pioneering India Pioneering Innovations + 15% Innovations + 15% Kotak Pioneer Fund - Kotak Pioneer Fund - Oct 31, 2019 MSCI ACWI ALPHA Nifty 50 TRI ## MSCI ACWI Nifty 50 TRI ## Growth Growth Information Information Technology Index TRI Technology Index # TRI # Since Inception 35.93% 26.14% 9.78% 18.89% 17,101 15,008 13,532 Last 1 Year 63.49% 50.36% 13.13% 44.30% 16,327 15,019 14,416 Last 3 Years NA NA NA NA NA NA NA Last 5 Years NA NA NA NA NA NA NA Scheme Inception date is 31/10/2019. Mr. Harish Krishnan & Mr. Arjun Khanna has been managing the fund since 31/10/2019. Different plans have different expense structure. The performance details provided herein are of regular plan Past performance may or may not be sustained in future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return. Kotak Infrastructure & Economic Reform Fund as on 30 Jul 2021 Kotak Infrastructure and India Infrastructure Kotak Infrastructure and India Infrastructure Feb 25, 2008 Economic Reform Fund - Index (Customised ALPHA Nifty 50 TRI ## Economic Reform Fund Index (Customised Nifty 50 TRI ## Growth Index by IISL) # - Growth Index by IISL) # Since Inception 8.37% 1.90% 6.47% 9.92% 29,433 12,877 35,636 Last 1 Year 75.94% 53.69% 22.25% 44.30% 17,567 15,351 14,416 Last 3 Years 13.08% 7.55% 5.53% 12.90% 14,460 12,441 14,391 Last 5 Years 11.76% 6.61% 5.16% 14.18% 17,448 13,774 19,419 Scheme Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 01/02/2015. Different plans have different expense structure. The performance details provided herein are of regular plan Past performance may or may not be sustained in future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index88 instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return. Kotak Asset Allocator Fund as on 30 Jul 2021
NIFTY 50 Hybrid NIFTY 50 Hybrid Kotak Asset Allocator Kotak Asset Allocator Aug 09, 2004 Composite Debt 50:50 ALPHA Nifty 50 TRI ## Composite Debt 50:50 Nifty 50 TRI ## Fund - Growth Fund - Growth Index # Index # Since Inception 16.19% 12.30% 3.89% 15.72% 127,821 71,733 119,302 Last 1 Year 38.23% 23.46% 14.77% 44.30% 13,811 12,339 14,416 Last 3 Years 18.32% 12.24% 6.08% 12.90% 16,565 14,141 14,391 Last 5 Years 14.21% 11.66% 2.55% 14.18% 19,446 17,366 19,419
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 Debt Hybrid Fund Performance as on 30 Jul 2021 Kotak Debt Hybrid CRISIL Hybrid 85+15 - Kotak Debt Hybrid CRISIL Hybrid 85+15 - Dec 02, 2003 ALPHA CRISIL 10 Year Gilt ## CRISIL 10 Year Gilt ## Fund - Growth Conservative Index # Fund - Growth Conservative Index # Since Inception 8.29% 8.60% -0.31% 5.81% 40,829 42,965 27,143 Last 1 Year 19.05% 9.89% 9.16% 2.23% 11,900 10,987 10,223 Last 3 Years 10.96% 10.57% 0.39% 8.71% 13,662 13,519 12,847 Last 5 Years 9.23% 9.24% 0.00% 6.50% 15,558 15,561 13,708
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 89scheme return with benchmark return. Kotak Focused Equity Fund Performance As On 30 Jul 2021
Kotak Focused Equity Fund - Kotak Focused Equity Jul 16, 2019 Nifty 200 TRI # ALPHA Nifty 50 TRI ## Nifty 200 TRI # Nifty 50 TRI ## Growth Fund - Growth Since Inception 22.03% 18.99% 3.04% 17.35% 15,013 14,260 13,861 Last 1 Year 48.67% 48.73% -0.06% 44.30% 14,851 14,857 14,416 Last 3 Years NA NA NA NA NA NA NA Last 5 Years NA NA NA NA NA NA NA Scheme Inception date is 16/07/2019. Mr. Harish Krishnan & Ms. Shibani Kurian has been managing the fund since 16/07/2019. 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 Growth Fund Series IV Performance as on 30 Jul 2021
Kotak India Growth Fund - Kotak India Growth Fund Feb 20, 2018 Nifty 200 TRI # ALPHA Nifty 50 TRI ## Nifty 200 TRI # Nifty 50 TRI ## Series IV - Growth - Series IV - Growth
Since Inception 16.80% 13.70% 3.10% 14.46% 17,064 15,555 15,917 Last 1 Year 65.48% 48.73% 16.75% 44.30% 16,525 14,857 14,416 Last 3 Years 20.89% 12.93% 7.96% 12.90% 17,668 14,404 14,391 Last 5 Years NA NA NA NA NA NA NA Scheme Inception date is 20/02/2018. Mr. Devender Singhal has been managing the fund since 09/05/2019. Different plans have different expense structure. The performance details provided herein are of regular plan Past performance may or may not be sustained in future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Alpha is difference of scheme return with benchmark return.
90 Kotak Balanced Advantage Fund Performance As On 30 Jul 2021
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 11.54% 12.25% -0.71% 12.92% 13,864 14,129 14,384 Last 1 Year 21.78% 23.46% -1.69% 44.30% 12,171 12,339 14,416 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 and 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 Flexicap Fund Performance As On 30 Jul 2021
Kotak Flexi Cap Fund - Sep 11, 2009 Kotak Flexi Cap Fund - Growth Nifty 200 TRI # ALPHA Nifty 50 TRI ## Nifty 200 TRI # Nifty 50 TRI ## Growth Since Inception 14.43% 12.13% 2.30% 11.80% 49,667 39,015 37,682 Last 1 Year 46.00% 48.73% -2.73% 44.30% 14,585 14,857 14,416 Last 3 Years 12.58% 12.93% -0.35% 12.90% 14,268 14,404 14,391 Last 5 Years 14.04% 14.25% -0.21% 14.18% 19,301 19,481 19,419 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. 91 Kotak Equity Hybrid Fund as on 30 Jul 2021
Kotak Equity Hybrid Fund - NIFTY 50 Hybrid Composite Kotak Equity Hybrid NIFTY 50 Hybrid Composite Nov 05, 2014 ALPHA Nifty 50 TRI ## Nifty 50 TRI ## Growth Debt 65:35 Index # Fund - Growth Debt 65:35 Index # Since Inception 11.54% 10.81% 0.74% 11.29% 20,874 19,963 20,553 Last 1 Year 49.17% 29.47% 19.70% 44.30% 14,901 12,938 14,416 Last 3 Years 14.65% 12.64% 2.02% 12.90% 15,071 14,290 14,391 Last 5 Years 12.63% 12.55% 0.08% 14.18% 18,133 18,068 19,419 Scheme Inception date is 25/11/1999 and Kotak Equity Hybrid Fund - Regular plan scheme inception date is 3rd November 2014. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Mr. Pankaj Tibrewal 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). 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 calculatedusing 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 Equity Savings Fund as on 30 Jul 2021 75% NIFTY 50 75% NIFTY 50 Kotak Equity Savings CRISIL 10 Year Gilt Kotak Equity Savings CRISIL 10 Year Gilt Oct 13, 2014 ARBITRAGE + 25% ALPHA ARBITRAGE + 25% Fund - Growth ## Fund - Growth ## Nifty 50 TRI # Nifty 50 TRI # Since Inception 8.51% 7.36% 1.15% 7.87% 17,422 16,205 16,743 Last 1 Year 15.54% 13.39% 2.15% 2.23% 11,550 11,335 10,223 Last 3 Years 7.98% 7.20% 0.78% 8.71% 12,589 12,319 12,847 Last 5 Years 8.53% 7.36% 1.18% 6.50% 15,066 14,265 13,708 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. 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. 92 Kotak Smallcap Fund Performance as on 30 Jul 2021
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 17.88% 14.26% 3.63% 14.63% 149,412 89,410 94,292 Last 1 Year 119.83% 112.32% 7.51% 44.30% 21,936 21,189 14,416 Last 3 Years 26.00% 13.26% 12.74% 12.90% 20,004 14,529 14,391 Last 5 Years 19.81% 12.66% 7.16% 14.18% 24,716 18,157 19,419
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) 1,980,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on July 30, 2021 (Rs) 10,679,302 3,991,711 1,929,323 1,216,392 711,257 182,855 Scheme Returns (%) 18.20 22.75 23.38 28.75 49.78 110.72 NIFTY Smallcap 100 (TRI) Returns (%) 12.86 15.94 16.50 20.67 40.98 108.02 Alpha* 5.33 6.80 6.87 8.08 8.80 2.69 NIFTY Smallcap 100 (TRI) (Rs)# 6,342,198 2,765,448 1,511,386 1,002,356 637,401 181,461 Nifty 50 (TRI) (Rs)^ 6,399,690 2,529,221 1,417,214 914,031 497,091 143,246 Nifty 50 (TRI) Returns (%) 12.96 14.28 14.70 16.88 22.18 38.15 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.
93 Kotak Emerging Equity Fund Performance As on 30 Jul 2021
Kotak Emerging Equity Nifty Midcap 100 TRI Kotak Emerging Equity Nifty Midcap 100 Mar 30, 2007 ALPHA Nifty 50 TRI ## Nifty 50 TRI ## Fund - Growth # Fund - Growth TRI # Since Inception 14.26% 14.35% -0.09% 11.71% 67,665 68,465 48,968 Last 1 Year 80.53% 81.54% -1.02% 44.30% 18,023 18,124 14,416 Last 3 Years 19.81% 14.84% 4.97% 12.90% 17,198 15,147 14,391 Last 5 Years 17.40% 14.66% 2.75% 14.18% 22,324 19,829 19,419 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 Scheme 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) 1,730,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on July 30, 2021 (Rs) 7,489,337 3,763,645 1,713,118 1,058,759 604,632 165,124 Scheme Returns (%) 18.46 21.66 20.02 22.94 36.86 77.18 Nifty Midcap 100 (TRI) Returns (%) 15.42 17.32 16.89 19.50 33.41 74.65 Alpha* 3.04 4.34 3.13 3.44 3.45 2.53 Nifty Midcap 100 (TRI) (Rs)# 5,810,231 2,977,953 1,532,872 974,229 578,111 163,751 Nifty 50 (TRI) (Rs)^ 4,669,610 2,529,930 1,417,201 914,031 497,091 143,246 Nifty 50 (TRI) Returns (%) 12.77 14.28 14.69 16.88 22.18 38.15 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.
94 Kotak Tax Saver Fund Performance as on 30 Jul 2021
Kotak Tax Saver Fund - Kotak Tax Saver Fund - Nov 23, 2005 Nifty 500 TRI # ALPHA Nifty 50 TRI ## Nifty 500 TRI # Nifty 50 TRI ## Growth Growth Since Inception 12.84% 13.52% -0.68% 13.54% 66,590 73,198 73,320 Last 1 Year 54.88% 53.07% 1.81% 44.30% 15,469 15,289 14,416 Last 3 Years 16.01% 13.56% 2.45% 12.90% 15,611 14,643 14,391 Last 5 Years 14.90% 14.58% 0.31% 14.18% 20,038 19,767 19,419
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) 1,890,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on July 30, 2021 (Rs) 6,055,490 2,817,680 1,490,935 948,472 529,924 151,743 Scheme Returns (%) 13.52 16.29 16.12 18.40 26.87 52.97 Nifty 500 (TRI) Returns (%) 13.22 15.31 15.49 17.72 25.42 48.21 Alpha* 0.29 0.99 0.63 0.68 1.45 4.76 Nifty 500 (TRI) (Rs)# 5,894,968 2,672,361 1,457,716 932,820 519,638 149,042 Nifty 50 (TRI) (Rs)^ 5,596,808 2,529,221 1,417,214 914,031 497,091 143,246 Nifty 50 (TRI) Returns (%) 12.65 14.28 14.70 16.88 22.18 38.15 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.
95 Kotak Equity Opportunities Fund Performance as on 30 Jul 2021
Kotak Equity Kotak Equity Sep 09, 2004 Opportunities Fund - Nifty 200 TRI # ALPHA Nifty 50 TRI ## Opportunities Fund - Nifty 200 TRI # Nifty 50 TRI ## Growth Growth Since Inception 18.81% 15.69% 3.12% 15.74% 184,114 117,434 118,242 Last 1 Year 52.83% 48.73% 4.10% 44.30% 15,266 14,857 14,416 Last 3 Years 15.97% 12.93% 3.04% 12.90% 15,599 14,404 14,391 Last 5 Years 15.20% 14.25% 0.95% 14.18% 20,307 19,481 19,419
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) 2,030,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on July 30, 2021 (Rs) 8,857,662 2,921,972 1,513,304 954,357 534,341 151,299 Scheme Returns (%) 15.62 16.97 16.54 18.65 27.48 52.19 Nifty 200 (TRI) Returns (%) 13.37 14.86 14.98 17.06 23.71 43.62 Alpha* 2.24 2.10 1.55 1.60 3.78 8.57 Nifty 200 (TRI) (Rs)# 7,072,990 2,609,749 1,431,875 917,926 507,627 146,410 Nifty 50 (TRI) (Rs)^ 6,926,715 2,529,221 1,417,214 914,031 497,091 143,246 Nifty 50 (TRI) Returns (%) 13.16 14.28 14.70 16.88 22.18 38.15 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.
96 Kotak Bluechip Fund Performance as on 30 Jul 2021
Kotak Bluechip Fund - S&P BSE SENSEX Kotak Bluechip Fund - S&P BSE SENSEX Feb 04, 2003 Nifty 50 TRI # ALPHA Nifty 50 TRI # Growth TRI ## Growth TRI ## Since Inception 19.91% 17.35% 2.56% 17.43% 287,335 192,903 195,114 Last 1 Year 47.42% 44.30% 3.12% 41.55% 14,726 14,416 14,141 Last 3 Years 13.81% 12.90% 0.91% 13.14% 14,740 14,391 14,484 Last 5 Years 13.19% 14.18% -0.99% 14.73% 18,590 19,419 19,896 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) 2,220,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on July 30, 2021 (Rs) 11,138,051 2,601,874 1,418,774 921,272 514,720 146,611 Scheme Returns (%) 15.44 14.81 14.72 17.21 24.73 44.05 Nifty 50 (TRI) Returns (%) 14.23 14.28 14.69 16.89 22.20 38.50 Alpha* 1.21 0.52 0.03 0.32 2.53 5.54 Nifty 50 (TRI) (Rs)# 9,728,864 2,529,930 1,417,201 914,084 497,205 143,413 S&P BSE SENSEX (TRI) (Rs)^ 9,871,333 2,556,335 1,428,880 920,546 492,545 141,426 S&P BSE SENSEX (TRI) Returns (%) 14.36 14.48 14.92 17.18 21.52 35.09 Scheme Inception : - December 29, 1998. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI K Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). As TRI data is not available since inception of the scheme, benchmark SIP Performance is calculated by taking S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007 and TRI Values since 31st May 2007. Alpha is difference of scheme return with benchmark return 97 Kotak India EQ Contra Fund as on 30 Jul 2021
Kotak India EQ Contra Kotak India EQ Contra Jul 27, 2005 Nifty 100 TRI # ALPHA Nifty 50 TRI ## Nifty 100 TRI # Nifty 50 TRI ## Fund - Growth Fund - Growth Since Inception 13.63% 14.37% -0.73% 14.12% 77,476 85,892 82,946 Last 1 Year 52.04% 44.76% 7.28% 44.30% 15,187 14,461 14,416 Last 3 Years 13.95% 12.61% 1.33% 12.90% 14,794 14,281 14,391 Last 5 Years 15.67% 14.06% 1.61% 14.18% 20,721 19,316 19,419 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) 1,930,000 1,200,000 840,000 600,000 360,000 120,000 Total Value as on July 30, 2021 (Rs) 6,495,097 2,754,341 1,496,861 953,223 520,920 150,177 Scheme Returns (%) 13.74 15.87 16.23 18.60 25.60 50.21 Nifty 100 (TRI) Returns (%) 13.17 14.60 14.70 16.66 22.38 39.68 Alpha* 0.58 1.26 1.53 1.95 3.22 10.53 Nifty 100 (TRI) (Rs)# 6,154,005 2,573,808 1,417,436 908,989 498,465 144,136 Nifty 50 (TRI) (Rs)^ 5,920,853 2,529,221 1,417,214 914,031 497,091 143,246 Nifty 50 (TRI) Returns (%) 12.75 14.28 14.70 16.88 22.18 38.15 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 98 Funds Managed by Mr. Deepak Agarwal Mr. Deepak Agrawal manages 12 funds & All FMPs of Kotak Mahindra Mutual Fund. 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 Medium Term Fund - Growth 6.84 5.89 6.87 9.76 6.89 8.20 8.14 9.00 Top 3 Kotak Credit Risk Fund - Growth 6.62 10.12 7.20 9.63 7.18 8.85 8.07 9.37 Kotak Floating Rate Fund - Growth 5.66 4.01 NA NA NA NA 7.88 5.72 Kotak Savings Fund - Growth 3.58 4.01 6.28 6.41 6.56 6.74 7.50 7.87 Bottom 3 Kotak Liquid Fund - Growth 3.16 3.45 5.18 5.29 5.86 5.87 7.06 7.09 Kotak Overnight Fund - Growth 2.99 3.19 NA NA NA NA 4.09 4.24 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 Credit Risk Fund - Growth, *Name of the Benchmark - NIFTY Credit Risk Bond Index, Scheme Inception date is 11/05/2010. Mr. Deepak Agrawal has been managing the fund since 12/04/2010. Kotak Medium Term Fund - Growth, *Name of the Benchmark - NIFTY Medium Duration Debt Index,Scheme Inception date is 21/03/2014. Mr. Deepak Agrawal has been managing the fund since 22/06/2015. 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 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.
99 Funds Managed by Mr. Harsha Upadhyaya Mr. Harsha Upadhyaya manages 4 funds of Kotak Mahindra Mutual Fund. 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 Tax Saver Fund - Growth 54.88 53.07 16.01 13.56 14.90 14.58 12.84 13.52 Kotak Equity Opportunities Fund - Growth 52.83 48.73 15.97 12.93 15.20 14.25 18.81 15.69 Kotak Flexi Cap Fund - Growth 46.00 48.73 12.58 12.93 14.04 14.25 14.43 12.13 Kotak ESG Opportunities Fund - Growth Kotak ESG Opportunities Fund has not yet completed 1 year from Inception, the performance of the scheme is not disclosed. Mr. Harsha Upadhyaya manages 4 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Equity Opportunities Fund (Sep 9, 04), Kotak Flexicap Fund (Erstwhile Kotak Standard Multicap Fund) (Sep 11, 09), Kotak Tax Saver Fund (Nov. 23,'05). Kotak 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 Equity Opportunities Fund - Growth (Erstwhile Kotak Opportunities), *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Kotak Flexi Cap Fund - Growth (Erstwhile Kotak Standard Multicap Fund), *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Funds Managed by Mr. Pankaj Tibrewal Mr. Pankaj Tibrewal manages 3 funds of Kotak Mahindra Mutual Fund. 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 Small Cap Fund - Growth 119.83 112.32 26.00 13.26 19.81 12.66 17.88 14.26 Kotak Emerging Equity Fund - Growth 80.53 81.54 19.81 14.84 17.40 14.66 14.26 14.35 Kotak Equity Hybrid Fund - Growth 49.17 29.47 14.65 12.64 12.63 12.55 11.54 10.81 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 (Erstwhile Kotak Midcap), *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 Emerging Equity Fund - Growth, *Name of the Benchmark - Nifty Midcap 100 TRI, Scheme Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010. 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.
100 Funds Managed by Mr. Hiten Shah
Mr. Hiten Shah manages 3 fund of Kotak Mahindra Mutual Fund. 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 Balanced Advantage Fund - Growth 21.78 23.46 NA NA NA NA 11.54 12.25 Kotak Equity Savings Fund - Growth 15.54 13.39 7.98 7.20 8.53 7.36 8.51 7.36 Kotak Equity Arbitrage Fund - Growth 4.15 4.28 5.20 4.72 5.59 4.73 7.07 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 Balanced Advantage Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index . Scheme Inception date is 03/08/2018. Mr. Abhishek Bisen & Mr. Harish Krishnan has been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019. 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. Devender Singhal has been managing the fund since 01/04/2021. 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 Ms. Shibhani Kurian manages 3 funds of Kotak Mahindra Mutual Fund. 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 India EQ Contra Fund - Growth 52.04 44.76 13.95 12.61 15.67 14.06 13.63 14.37 Kotak Focused Equity Fund - Growth 48.67 48.73 NA NA NA NA 22.03 18.99 Kotak India Growth Fund - Series 7 - Growth 31.00 44.30 NA NA NA NA 12.36 12.16 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.
101 Funds Managed by Mr. Harish Krishnan
Mr. Harish Krishnan manages 5 funds of Kotak Mahindra Mutual Fund. 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 Infrastructure and Economic Reform Fund - Growth 75.94 53.69 13.08 7.55 11.76 6.61 8.37 1.90 Kotak Pioneer Fund - Growth 63.49 50.36 NA NA NA NA 35.93 26.14 Kotak Focused Equity Fund - Growth 48.67 48.73 NA NA NA NA 22.03 18.99 Kotak Bluechip Fund - Growth 47.42 44.30 13.81 12.90 13.19 14.18 19.91 17.35 Kotak Balanced Advantage Fund - Growth 21.78 23.46 NA NA NA NA 11.54 12.25
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 Balanced Advantage Fund (Aug. 03,18), 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 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. Kotak Bluechip Fund - Growth (Erstwhile Kotak 50), *Name of the Benchmark - Nifty 50 TRI, Since inception date of Kotak Bluechip Fund - Reg Growth 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 Balanced Advantage Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index . Scheme Inception date is 03/08/2018. Mr. Abhishek Bisen & Mr. Harish Krishnan has been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019. .
102 Funds Managed by Mr. Abhishek Bisen
Mr. Abhishek Bisen manages 9 funds of Kotak Mahindra Mutual Fund.
1 YEAR 3 YEARS 5 YEARS Since Inception Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak Equity Hybrid Fund - Growth 49.17 29.47 14.65 12.64 12.63 12.55 11.54 10.81 Kotak Balanced Advantage Fund - Top 3 Growth 21.78 23.46 NA NA NA NA 11.54 12.25 Kotak Debt Hybrid Fund - Growth 19.05 9.89 10.96 10.57 9.23 9.24 8.29 8.60 Kotak Bond Fund - Growth 3.01 4.60 8.72 9.88 6.58 7.91 8.72 NA Bottom 3 Kotak Gold ETF -10.00 -9.65 16.85 17.71 7.59 8.52 11.80 12.91 Kotak Gold Fund - Growth -10.61 -9.65 16.87 17.71 8.38 8.52 6.84 8.35
Mr. Abhishek Bisen manages 9 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 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 Balanced Advantage Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index . Scheme Inception date is 03/08/2018. Mr. Abhishek Bisen & Mr. Harish Krishnan has been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019. Kotak Debt Hybrid Fund - Growth, *Name of the Benchmark - CRISIL Hybrid 85+15 - Conservative Index, 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. 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 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 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.
103 Funds Managed by Mr. Devender Singhal
Mr. Devender Singhal manages 11 funds of Kotak Mahindra Mutual Fund. 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 PSU Bank ETF 72.17 73.75 -9.14 -8.40 -3.99 -2.95 -1.43 0.04 Kotak India Growth Fund - Series 4 - Top 3 65.48 48.73 20.89 12.93 NA NA 16.80 13.70 Growth Kotak Banking ETF 60.06 60.54 7.17 7.91 12.63 13.18 10.07 10.51 Kotak Asset Allocator Fund - Growth 38.23 23.46 18.32 12.24 14.21 11.66 16.19 12.30 Bottom 3 Kotak Debt Hybrid Fund - Growth 19.05 9.89 10.96 10.57 9.23 9.24 8.29 8.60 Kotak Equity Savings Fund - Growth 15.54 13.39 7.98 7.20 8.53 7.36 8.51 7.36 Mr. Devender Singhal manages 11 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. 20, '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 IT ETF (Mar. 02, '21), Kotak NIFTY Next 50 Index (Mar. 10, '21)
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 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. 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 Asset Allocator Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index, Scheme Inception date is 09/08/2004. Mr. Devender Singhal & Mr. Arjun Khanna has been managing the fund since 09/05/2019. Kotak Debt Hybrid Fund - Growth, *Name of the Benchmark - CRISIL Hybrid 85+15 - Conservative Index, 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. 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. Devender Singhal has been managing the fund since 01/04/2021. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019.
104 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
Kotak Asset Allocator Fund An open ended fund of fund scheme investing in specified open-ended equity, and debt Schemes of Kotak Mahindra Mutual Fund
Kotak Equity Arbitrage Fund An open ended scheme investing in arbitrage opportunities
Kotak Equity Savings Fund An open ended scheme investing in equity, arbitrage and debt
Kotak Flexicap Fund Flexicap Fund - An open ended dynamic equity scheme investing across large cap, mid cap, small cap stocks
Kotak Focused Equity Fund An open ended equity scheme investing in maximum 30 stocks in large-cap, mid-cap and small-cap category
Kotak Floating Rate Fund An open ended debt scheme predominantly investing in floating rate instruments
Kotak Equity Hybrid Fund An open-ended hybrid scheme investing predominantly in equity and equity related instruments
Kotak International REIT FoF An open ended fund of fund scheme investing in units of SMAM ASIA REIT Sub Trust fund and/or other similar overseas REIT funds
Kotak ESG Opportunities Fund An open ended equity scheme which follows the Environment, Social and Governance (ESG) theme with flexibility of investing across market capitalization
Kotak NASDAQ 100 FOF An open ended fund of fund investing in units of overseas ETF's and/or Index Fund based on NASDAQ 100 Index
Kotak Global Emerging Fund An open-ended fund of fund scheme investing in overseas mutual fund schemes investing in global emerging markets 105 Fund Type of Scheme Kotak Overnight Fund An open ended debt scheme investing in overnight securities Kotak Gilt Fund An open ended debt scheme investing in government securities across maturity Kotak Money Market Fund An open ended debt scheme investing in money market instruments Kotak Savings Fund An open ended ultra-short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 months and 6 months Kotak Bond Short Term Fund An open ended short term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 1 year and 3 years
Kotak Corporate Bond Fund An open ended debt scheme predominantly investing in AA+ and above rated corporate bonds.
Kotak Credit Risk Fund An open ended debt scheme predominantly investing in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds)
Kotak Banking & PSU Debt Fund An open ended debt scheme predominantly investing in Debt instruments of banks, Public Sector Undertakings, Public Financial Institutions and Municipal Bonds. Kotak Liquid Fund An open ended liquid scheme Kotak Low Duration Fund An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months
Kotak Medium Term Fund An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 3 years and 4 years
Kotak Dynamic Bond Fund An open ended dynamic debt scheme investing across duration. Kotak Bond Fund An open ended medium term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 4 years and 7 years
Kotak India Growth Fund Series Multicap Fund - A 1099 days close ended equity scheme investing across large cap, midcap and small cap stocks 5 Kotak India Growth Fund Series Multicap Fund - A 36 months close ended equity scheme investing across large cap, midcap and small cap stocks 4 Kotak Infrastructure & An open ended equity scheme following Infrastructure & Economic Reform theme Economic Reform Fund
106 Scheme Name This Product is suitable for investors who are seeking* Kotak Equity Hybrid Fund Long term capital growth Investment in equity & equity related securities balanced with income generation by investing in debt & money market instruments Kotak India EQ Contra Fund Long term capital growth Investment in portfolio of predominantly equity & equity related securities Kotak Tax Saver Fund Long term capital growth with a 3 year lock in Investment in portfolio of predominantly equity & equity related securities Kotak Emerging Equity Fund Long term capital growth Investment in equity & equity related securities predominantly in mid cap companies Kotak ESG Opportunities Fund Long term capital growth Investment in the portfolio of predominantly equity & equity-related securities of companies following environmental, social and governance(ESG) criteria
Kotak Global Emerging Market Fund Long term capital growth Investment in overseas mutual fund schemes that invest in a diversified portfolio of securities in global emerging markets Kotak India Growth Fund Series 4 Long term capital growth Investment in equity and equity related securities without any market capitalisation and sector bias The above risk-o—meter is based on the Kotak India Growth Fund Series 5 Long term capital growth scheme portfolio as on 30 June 2021. An Investment in equity and equity related securities without any market addendum maybe issued or website capitalisation and sector bias. update for new risk-o-meters Kotak Bluechip Fund Long term capital growth Investment in portfolio of predominantly equity & equity related securities of large cap companies Kotak Focused Equity Fund Long term capital growth Investment in equity and equity securities across market capitalisation in maximum 30 stocks 107 *Investors should consult their financial advisors if in doubt about whether the product is suitable for them Scheme Name This Product is suitable for investors who are seeking*
Kotak Infrastructure and Economic Reform Fund Long term capital growth Long term capital appreciation by investing in equity and equity related instruments of companies contributing to infrastructure and economic development of India Kotak Equity Opportunities Fund Long term capital growth Investment in portfolio of predominantly equity & equity related securities of large & midcap companies Kotak Pioneer Fund Long term capital growth Investment in equity and equity related securities of companies operating with pioneering innovations theme without any market capitalisation and sector bias.
Kotak International REIT FOF Long-term capital growth Long-term capital appreciation and income by investing in units of SMAM ASIA REIT Sub Trust Fund and/or other similar overseas REIT funds. Kotak Smallcap Fund Long term capital growth Investment in equity & equity related securities predominantly in small cap Stocks Kotak NASDAQ 100 Fund of Fund Long-term capital growth The above risk-o—meter is based on the Return that corresponds generally to the performance of the NASDAQ- scheme portfolio as on 30 June 2021. An 100 Index, subject to tracking error. addendum maybe issued or website Kotak Flexicap Fund Long term capital growth update for new risk-o-meters Investment in portfolio of predominantly equity & equity related securities generally focused on a few selected sectors across market capitalization Kotak Banking ETF Long term capital growth Investment in stock comprising the underlying index and endeavours to track the benchmark index 108 *Investors should consult their financial advisors if in doubt about whether the product is suitable for them Scheme Name This Product is suitable for investors who are seeking* Kotak PSU Bank ETF Long term capital growth Investment in stocks comprising the underlying index and endeavors to track the benchmark index Kotak IT ETF Long-term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index Kotak Nifty Next 50 Index Fund Long-term capital growth Returns that are commensurate with the performance of NIFTY Next 50 Index, subject to tracking error. Kotak Nifty ETF Long term capital growth Investment in stocks comprising the underlying index and endeavors to track the benchmark index Kotak NV 20 ETF Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index Kotak Sensex ETF Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index
Kotak Credit Risk Fund Income over a medium term investment horizon Investment predominantly in in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds)
Kotak Asset Allocator Fund Long term capital growth Investment in open-ended diversified equity schemes and debt schemes of Kotak Mahindra Mutual Fund
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them
The above risk-o—meter is based on the scheme portfolio as on 30 June 2021. An addendum maybe issued or website update for new risk-o-meters 109 Scheme Name This Product is suitable for investors who are seeking* Kotak Equity Arbitrage Income from arbitrage opportunities in the equity market Investment in arbitrage opportunities in the cash & derivatives segment of the equity market
Kotak Overnight Fund Income over a short term investment horizon. Investment in debt & money market securities having maturity of one business day
Kotak Savings Fund Income over a short term investment horizon Investment in debt & money market securities with portfolio Macaulay duration between 3 months & 6 months
Kotak Corporate Bond Fund Regular Income over short term Income by investing in fixed income securities of varying maturities and predominantly investing in AA+ and above rated corporate bonds
Kotak Liquid Fund Income over a short term investment horizon Investment in debt & money market securities
Kotak Bond Short Term Fund Income over a medium term investment horizon Investment in debt & money market securities with portfolio Macaulay duration between 1 year & 3 years The above risk-o—meter is based on the Kotak Low Duration Fund Regular Income over short term scheme portfolio as on 30 June 2021. An Income by focussing on low duration securities with portfolio Macaulay duration addendum maybe issued or website between 6 months and 12 months update for new risk-o-meters 110 *Investors should consult their financial advisors if in doubt about whether the product is suitable for them Scheme Name This Product is suitable for investors who are seeking*
Kotak Bond Fund Income over a long investment horizon Investment in debt & money market securities with a portfolio Macaulay duration between 4 years & 7 years
Kotak Money Market Fund Income over a short term investment horizon Investment in money market securities Kotak Dynamic Bond Fund Income over a medium term investment horizon Investment in debt & money market securities across durations Kotak Floating Rate Fund Income over a short term investment horizon. Investment in floating & fixed rate debt instruments swapped for floating rate returns and money market instruments. Kotak Gilt Fund Income over a long investment horizon Investment in sovereign securities issued by the Central and/or State Government(s) and/or reverse repos in such securities
Kotak Banking & PSU Debt Fund Income over a short to medium term investment horizon Investment in debt & money market securities of PSUs, Banks, Public Financial Institutions, government securities and Municipal Bonds The above risk-o—meter is based on the scheme portfolio as on 30 June 2021. An addendum maybe issued or website update for new risk-o-meters
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them 111 Scheme Name This Product is suitable for investors who are seeking*
Kotak Balanced Advantage Fund Wealth creation over a long period of time. Investment in equity, equity related securities & debt, money market instruments while managing risk through active allocation. Kotak Debt Hybrid Fund Income & capital growth over a long term horizon Investment in a portfolio of debt instruments with a moderate exposure in equity & equity related instruments Kotak Gold ETF Returns in line with physical gold over medium to long term, subject to tracking error Investment in physical gold Kotak Equity Savings Fund Income from arbitrage opportunities in the equity market & long term capital growth Investment predominantly in arbitrage opportunities in the cash & derivatives segment of the equity market and equity & equity related securities Kotak Medium Term Fund Income over a medium term investment horizon Investment in debt, government securities & money market instruments with portfolio Macaulay duration between 3 years & 4 years
KOTAK GLOBAL INNOVATION FUND OF Long term capital growth FUND Investment in units of Wellington Global Innovation Fund or any other similar overseas mutual fund schemes/ETFs.
The above risk-o—meter is based on the scheme portfolio as on 30 June 2021. An addendum maybe issued or website update for new risk-o-meters
*Investors should consult their financial advisors if in doubt about whether the product is suitable for them 112 Thank You
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