INDEX

Contents Page no.

Expert Speak 1
Market Overview 2
Equity Market Snapshot 3
Debt Market Snapshot 4
Fund Name/Scheme Name New SEBI scheme category
Equity Funds
Kotak Standard Multicap Fund (Erstwhile Kotak Select Focus) Multi Cap Fund 5
Kotak Emerging Equity Scheme Mid Cap Fund 6
Kotak Equity Opportunities Fund (Erstwhile Kotak Opportunities) Large & Mid Cap Fund 7
Kotak Bluechip Fund (Erstwhile Kotak Mahindra 50 Unit Scheme) Large Cap Fund 8
Kotak Small Cap Fund (Erstwhile Kotak Midcap Scheme) Small Cap Fund 9
Kotak Tax Saver ELSS 10
Kotak Infrastructure & Economic Reform Fund Sectoral/Thematic 11
Kotak India EQ Contra Fund (Erstwhile Kotak Classic Equity) Contra Fund 12
Kotak India Growth Fund Series 4 13
Kotak India Growth Fund Series 5 14
Kotak India Growth Fund Series 7 15
Hybrid Funds
Kotak Equity Arbitrage Fund Arbitrage Fund 16
Kotak Balanced Advantage Fund Balanced Advantage 19
Kotak Equity Hybrid (Erstwhile Kotak Balance) Aggressive Hybrid Fund 22
Kotak Equity Savings Fund Equity Savings 23
Kotak Debt Hybrid (Erstwhile Kotak MIP) Conservative Hybrid Fund 26
Debt Funds
Kotak Mahindra Liquid Scheme Liquid Fund 27
Kotak Bond Short Term Plan Short Duration Fund 28
Kotak Savings Fund (Erstwhile Kotak Treasury Advantage Fund) Ultra Short Duration Fund 29
Kotak Money Market Scheme (Erstwhile Kotak Floater Short Term Scheme) Money Market Fund 30
Kotak Low Duration Fund Low Duration Fund 31
Kotak Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) Credit Risk Fund 32
Kotak Medium Term Fund Medium Duration Fund 34
Kotak Bond (Erstwhile Kotak Mahindra Bond Unit Scheme 99) Medium to Long Duration Fund 36
Kotak Corporate Bond Fund Corporate Bond Fund 37
Kotak Banking & PSU Debt Fund Banking & PSU Fund 38
Kotak Mahindra Gilt Unit Scheme 98 - Investment Plan Gilt Fund 39
Kotak Dynamic Bond Fund (Erstwhile Kotak Flexi Debt Scheme) Dynamic Bond 40
Kotak Overnight Fund Overnight Fund 41
Exposure 42
Fund of Funds Scheme
Kotak Asset Allocator Fund 44
Kotak US Equity Fund 45
Kotak Global Emerging Market Fund 46
Kotak World Gold Fund 47
ETF Funds
Kotak Gold ETF 48
Kotak Nifty ETF 49
Kotak Sensex ETF 50
Kotak Banking ETF 51
Kotak PSU Bank ETF 52
Scheme Performance 53
About Our Fund Managers 60
Dividend History 62
How to read Fact Sheet 65
 Expert Speak January 31, 2019

Dear Friends,

The interim Union Budget is behind us now, and elections ahead of us. Pre-budget, the markets were jittery about the measures that government
may take, and the hole that the fiscal deficit would have. But to its credit, the fiscal deficit has been kept largely in check.

The budget has provided for direct income support to the farmers at one hand, and the income tax rebate to the middle class tax
payers at another. Solely from financial standpoint, this dual income support to both rural and urban consumers may see the uptick in FMCG
demand. While this may lead to some money circulation, the presently low inflation levels provides much headroom.

The market focus would now move to the upcoming monetary policy. At the minimum, the market expects a benign policy stance by RBI. However,
a rate cut too cannot be ruled out given the change in guard at the governor s post. Given the low inflation, high real interest rates (around 300 bps),
and trust deficit in the NBFC sector, the case for rate cut exists. Having said that, the RBI may find it difficult to make a sudden shift from 2nd gear to
immediate reverse (rate).

In this context, a benign stance with guidance for future rate action would help soften the market mood. Also, debt market is also looking forward
to government s borrowing liability and issuance calendar. The pressure of the off-budget borrowing size is playing on the investors mind. Monetary
policy statement may help in resolving these concerns.

Currently, the credit market is also concerned about the rumours floating regarding viability of some HFC(s). On our part we have done our due
diligence and have obtained sufficient confidence in serviceability of exposures. We believe that the business model of these HFC(s) are
robust and is supported by sustainable cash flow. At that, (at least in our case) the exposure to their issuances is of around 3-9 month
maturities. This limits our credit and duration risk exposure. Having said that, the wide credit spreads presently available seem quite
attractive from 18-24 month horizon for aggressive credit investor.

From the equity market stand point, the outlook surrounding the elections and the post-election polity has become crucial. For now, there is much
wariness in the market about the upcoming general elections which may cause some volatility in the short term. Post elections, the market may be
willing to pay premium for political stability. Other than that, the FII flows into Indian markets may also affect market trend. Eventually it is the
outlook on the earnings growth which will drive the market sentiment for much of 2019.

Taking a longer term view, the finance minister has stated that the Indian economy may reach US$ 5 trillion mark in five years, and reach
US$ 10 trillion in next 8 years. In other words, if things go well, India would be adding US$ 8 trillion to its GDP in next 13 years. That I believe is a
lot of growth opportunity. The size of how much you make out of this opportunity will depend on the quality of your investment decisions and
perhaps a slice of luck.

For now, an investor who is currently overweight on equities as an asset class can choose to invest through SIP in equities, or deploy the lumpsum
into the BAF strategy. This mitigates risks effectively while does not risk losing out on any sudden change in upward momentum

Wishing You the Very Best,

Thanks and Regards,

Nilesh Shah

Managing Director

1 1
Market Overview
Key Events for the Month of January 2019:
Fiscal deficit has been pegged at 3.4% for 2018-19 and 2019-20 as mentioned in the Union Budget 2019.
Headline CPI moderated to a 18 month low of 2.19%
Trade deficit improved to a 10 month low of US$ 13.1 Bn due to a fall in gold imports. In November, the trade deficit was $16.67 billion.
GST Council doubled exemption limit and raised threshold for availing composition scheme providing relief to MSMEs.
India's GDP is expected to grow at 7.3 % in the fiscal year 2018-19, and 7.5 % in the following two years, the World Bank has forecast.
The interim budget announced a tax rebate for those whose income is up to Rs.5,00,000.
The standard deduction has been raised from Rs. 40,000 to Rs. 50,000. This comes as a small relief for salaried employees.
Rs. 60,000cr has been allocated towards Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) scheme.

Market Valuation Indicators

Sensex Above Fair Value Plus Range

12-month forward Sensex P/B (x) India s Market Cap to GDP (%)

7.0
Sensex P/B (x) - LHS Average of 78% for
6.0 103 the period
95
88
5.0 83 85
81 80 75
71 69
4.0 64 66
55
3.0
2.0
1.0
Jan-91
Jan-92
Jan-93
Jan-94
Jan-95
Jan-96
Jan-97
Jan-98
Jan-99
Jan-00
Jan-01
Jan-02
Jan-03
Jan-04
Jan-05
Jan-06
Jan-07
Jan-08
Jan-09
Jan-10
Jan-11
Jan-12
Jan-13
Jan-14
Jan-15
Jan-16
Jan-17
Jan-18
Jan-19

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019
Source: Axis Capital Source: Axis Capital

12-month forward Sensex P/E (x)

Market Equity Allocaion
Exit 42000
Bubble Stretched 20x - 24x
5% - 10% 39000
36000 Fair Value Plus 17x -20x
Under Invest
Stretched 33000
15%- 25%
Fair Value Neutral -
30000
Fair 13x - 17x
Plus 35% - 45% 27000
Neutral
24000
Fair Attractive 10x - 13x
50% 21000
18000
Neutral + Cheap 8x - 10x
Attractive 15000
65% - 75%
12000
Over Invest
Aug-16

Aug-17

Aug-18
Dec-16

Dec-17

Dec-18
Sep-16

Sep-17

Sep-18
Oct-16

Oct-17

Oct-18
Nov-16

Nov-17

Nov-18
Jun-16

Jun-17

Jun-18
Apr-16
May-16

Apr-17
May-17

Apr-18
May-18
Jan-16

Jan-17

Jan-18

Jan-19
Feb-16

Feb-17

Feb-18
Mar-16

Mar-17

Mar-18

Cheap
Jul-16

Jul-17

Jul-18

80% - 90%

Suggested equity allocation

(Assuming 50% equity
allocation as neutral)
Source: Axis Capital

Strategy for Investments in the Current Scenario

2
Equity Market Snapshot
After Strong Outperformance In Dec-18, Large UnderPerformance In Jan 2019

10%

5%

0%

-5%

-10%
US$ returns, MoM

-15%

Jan-17 Apr-17 Jul-17 Oct-17 Jan-18 Apr-18 Jul-18 Oct-18 Jan-19

India's Performance World Relative Performance

Source: Credit suisse, As on 31st Jan 2019

Revenue And Earnings Growth Good Start To Earnings Season (21 Companies In Nifty Reported So Far)

Source: Bloomberg, UBS Estimates. Data as of 1st Feb 2019

Key Variables & their Impact On Equities

Key Variables Short - term Medium - term Remarks

Economy GST to aid formalization of economy and longer term growth

Improving operating leverage, falling interest costs and improvement in

Corporate Earnings working capital can accelerate earnings, but a bit back-ended. Key is
improvement in capacity utilisation
FII Flow India stands out among global asset classes with prospects of strong long term
growth.

DII Flow Long runaway of longer term growth in financial channelization of savings

Supply of paper Higher disinvestment target and repair of leveraged balance sheet to create
supply in markets.

Policy/Reform Initiative Election heavy year can dampen near term outlook for meaningful reform

Signifies growth

3
Debt Market Snapshot

Items Jan-19 Dec-18 Change

Reverse Repo 6.25% 6.25% Nil
Repo 6.50% 6.50% Nil
CRR 4.00% 4.00% Nil
SLR 19.25% 19.50% -25 bps
Mibor Overnight 6.50% 6.73% -23 bps
Call(O/N) 6.38% 6.53% -15 bps
CBLO 6.34% 6.35% -1 bps
1 yr T Bill 6.73% 6.92% -19 bps
10 G Sec 7.28% 7.37% -9 bps
5 Year AAA 8.59% 8.42% 17 bps
USD/INR ` 71.03 ` 69.79 -`1.24
Source: RBI; Bloomberg.

CPI Inflation: Inflation remains benign & CPI remains below RBI's 4% target
12.0% CPI
10.0% Core CPI
8.0%
5.73%
6.0%
4.0%
2.0%
2.19%
0.0%

The CPI inflation hits to a 18-month low, eases to 2.19% in December 2018 from 2.3% in November 2018
The core CPI inflation was flat at 5.73% in December 2018 compared with 5.70% in November 2018
Inflation of food and beverages increased to (-) 1.49% in December 2018 from (-) 1.69% in November 2018.
The urban CPI inflation moderated to 2.91% in December 2018 from 3.12% in November 2018
The rural CPI inflation weakened to 1.65% from 1.7% in November 2018

Source: RBI, Business Standard, Economic Times

%
Positive Real Interest Rates to Stimulate Financial Savings
6
5
5.18
4
3
2
1
0
-1
-2
-3
-4
Oct-12

Oct-13

Oct-14

Oct-15

Oct-16

Oct-17

Oct-18
Apr-12
Jul-12

Jan-13
Apr-13
Jul-13

Jan-14
Apr-14
Jul-14

Jan-15
Apr-15
Jul-15

Jan-16
Apr-16
Jul-16

Jan-17
Apr-17
Jul-17

Jan-18
Apr-18
Jul-18

Jan-19

Earlier, negative real rates fueled inflation in physical assets as people chased assets such as real estate and gold till 2014.
This can lead to healthy banks deposits and therefore lending to the formal sector
Note: Monthly 10 year Gilt Yield taken as average of their respective month. Jan-19 CPI is assumed to be same as Dec-18 and
Real Interest rate is calculated . Source: Bloomberg

Key Variables & their Impact On Interest Rates

Short - term Medium term
Key Variables (3-6 months) (6months 2 years) Remarks
Inflation Inflation expected to remain benign over near & medium term. Thus, positive
impact on interest rates.
Rupee Inflation expected to remain range bound in the near term. It may gradually tend
towards a relatively low depreciation that will affect the interest rates positively.
Near term tight liquidity and demand for money may lead to widening for spreads.
Credit Demand However in long term its likely to ease out as liquidity will ease from April.
Government Borrowing Budget announced additional borrowings for FY 19 and FY 20 Gross borrowing
was also on higher side which will keep rates high.
RBI Policy RBI is expected to be dovish thus will remain positive for short term rates.

Global Event Risk No immediate impact of global events on interest rates.

Corporate bond Spread Spreads are already wide. Gradually they are expected to narrow; having positive
impact on interest rates.
Currently no change in Fll flows impact on interest rate. As we get more clarity
Debt FII flow going forward, asp. post general election outcome, it may positively impact rates
Liquidity Central Bank likely to add liquidity in the near and medium term. Thus a positive
impact on interest rates.
Denotes fall in interest rates
4
4
 Investment style
Value Blend Growth Size
KOTAK STANDARD MULTICAP FUND Large
(Erstwhile Kotak Select Focus) Mid

Multi cap fund - An open-ended equity scheme investing across large cap, mid cap, small cap stocks Small

Fund Manager: Mr. Harsha PORTFOLIO

Upadhyaya* Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AAUM: `21,577.30 crs Assets Assets
AUM: `21,637.57 crs Equity & Equity related Kec International Ltd. Construction Project 0.77
Benchmark: Nifty 200 Reliance Industries Ltd. Petroleum Products 7.09 Maruti Suzuki
Allotment date: September 11, 2009 HDFC Bank Ltd. Banks 7.03 India Limited Auto 0.77
ICICI Bank Ltd. Banks 6.49 HDFC Standard Life
Folio count: 11,81,204 Axis Bank Ltd Banks 5.02 Insurance Company Ltd Finance 0.76
Investment Objective Larsen And Toubro Ltd. Construction Project 4.86 Bharat Petroleum
The investment objective of the scheme is Infosys Ltd. Software 4.76 Corporation Ltd. Petroleum Products 0.69
to generate long-term capital appreciation Tata Consultancy Sun Pharmaceuticals
from a portfolio of equity and equity related Services Ltd. Software 3.72 Industries Ltd. Pharmaceuticals 0.67
securities, generally focused on a few State Bank Of India Banks 2.78 Century Textiles &
selected sectors. However, there is no RBL Bank Ltd Banks 2.64 Industries Ltd. Cement 0.60
assurance that the objective of the scheme Petronet LNG Ltd. Gas 2.63 AIA Engineering Limited Industrial Products 0.59
will be realized. ITC Ltd. Consumer Non Durables 2.51 Avenue Supermarts Ltd Retailing 0.59
Bharat Financial Max Financial Services Ltd. Finance 0.57
Available Plans/Options Inclusion Limited Finance 2.32 Bayer Cropscience Ltd. Pesticides 0.52
A) Regular Plan B) Direct Plan Jubilant Foodworks Limited Consumer Non Durables 0.45
HDFC Ltd. Finance 1.95
Options: Dividend Payout, Dividend GAIL (India) Ltd. Gas 1.92 Solar Industries
Reinvestment & Growth (applicable for all Britannia Industries Ltd. Consumer Non Durables 1.77 India Limited Chemicals 0.44
plans) Indraprastha Gas Ltd. Gas 1.77 SRF Ltd. Textile Products 0.41
Hero MotoCorp Ltd. Auto 1.75 Arvind Fashion Ltd. Textile Products 0.40
Dividend Frequency
Trustee s Discretion Ultratech Cement Ltd. Cement 1.63 BEML Ltd Industrial Capital Goods 0.35
AU Small Finance Bank Ltd. Banks 1.59 Techno Electric &
Ratios ICICI Lombard General Engineering
Insurance Company Ltd Finance 1.58 Company Limited Construction Project 0.21
Portfolio Turnover 32.94% Mahindra & Mahindra Ltd. Auto 1.58 Arvind Ltd Textile Products 0.20
$ Shree Cement Ltd. Cement 1.53 Whirlpool of India Ltd. Consumer Durables 0.20
Beta 0.96
The Ramco Cements Ltd Cement 1.48 Laurus Labs Ltd Pharmaceuticals 0.17
$
Sharpe## Bharat Electronics Ltd Industrial Capital Goods 1.37 Max India Limited Healthcare Services 0.09
0.61
Bajaj Finance Limited Finance 1.31 Anup Engineering Ltd. Textile Products 0.07
$
Standard Deviation 14.13% Container Corporation of Equity & Equity
India Ltd. Transportation 1.21 Related - Total 92.35
Source: $ICRA MFI Explorer. Lupin Ltd. Pharmaceuticals 1.21 Futures
Minimum Investment Amount MRF Limited Auto Ancillaries 1.13 CNX NIFTY-FEB2019 1.15
Initial Investment: `5000 and in multiple of Cadila Healthcare Ltd. Pharmaceuticals 0.94 Maruti Suzuki India
`1 for purchase and of `0.01 for switches Bata India Ltd. Consumer Durables 0.93 Limited-FEB2019 -0.48
Additional Investment: `1000 & in Inter Globe Aviation Ltd Transportation 0.93 Term Deposits
multiples of `1 Godrej Consumer HDFC Bank Ltd. 0.58
Ideal Investments Horizon: 3 years & above Products Ltd. Consumer Non Durables 0.89 Term Deposits - Total 0.58
Jindal Steel & Power Ltd. Ferrous Metals 0.84 Triparty Repo 6.59
Load Structure SBI Life Insurance Net Current Assets/
Entry Load: Nil. (applicable for all plans) Company Ltd Finance 0.84 (Liabilities) 0.48
Exit Load: Bajaj Finserv Ltd. Finance 0.83
a) For redemptions / switch outs (including Grand Total 100.00
SIP/STP) within 1 year from the date of Note: Term Deposit as provided above is towards margin for derivatives transactions
allotment of units:1% Equity Derivative Exposuer is 0.67%
b) For redemptions / switch outs (including
SIP/STP) after 1 year from the date of SECTOR ALLOCATION (%)
allotment of units: NIL
Total Expense Ratio** 5.23 2.99
Regular:1.98%; Direct: 0.96% 35.70 14.10 8.48 7.33 6.97 5.84 4.75 2.38
Scheme

2.14 4.50
34.28 13.31 12.36 13.31 3.57 6.98 1.18
Benchmark
Data as on January 31, 2019
Financial Services Energy Information Technology Consumer Goods Cash & Cash Equivalent
Product Label Construction Cement & Cement Products Automobile Pharma Industrial Manufacturing
Riskometer

Moderate Mo SYSTEMATIC INVESTMENT PLAN (SIP)

t el y d
era Higerat
odLow h e Systematic Investment Plan (SIP) If you had invested `10,000 every month
M

ly

Monthly SIP of ` 10000 Since Inception 7 years 5 years 3 years 1 year

Low

High

Total amount invested (`) 11,30,000 8,40,000 6,00,000 3,60,000 1,20,000

Total Value as on Jan 31, 2019 (`) 23,12,092 14,51,559 8,06,674 4,10,937 1,18,809
LOW HIGH
Investors understand that their principal will be at moderately high risk Scheme Returns (%) 14.61 15.34 11.78 8.78 -1.83
This product is suitable for investors who are seeking*:
Long term capital growth
Nifty 200 (TRI) (`)# 19,55,655 12,88,797 7,70,777 4,13,493 1,18,264
Investment Portfolio of predominantly equity & equity 11.25 12.01 9.95 9.20 -2.66
related securities generally focused on a few selected
Nifty 200 (TRI) Returns (%)
sectors across market capitalisation. 19,26,520 12,70,782 7,74,302 4,23,385 1,21,016
* Investors should consult their financial advisors if in
Nifty 50 (TRI) (`)^
doubt about whether the product is suitable for them. 10.95 11.62 10.13 10.81 1.57
Nifty 50 (TRI) Returns (%)

Scheme Inception : - September 11, 2009. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and
final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. #
Benchmark ; ^ Additional Benchmark
TRI 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).
Kotak Standard Multicap Fund (Erstwhile Kotak Select Focus) NAV as on January 31, 2019: ` 21.946 (Dividend Option), ` 23.556 (Direct Dividend Option), ` 32.856 (Growth Option), ` 34.871 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

5
 Investment style
Value Blend Growth Size
KOTAK EMERGING EQUITY SCHEME Large
Mid

Mid cap fund - An open-ended equity scheme predominantly investing in mid cap stocks Small

Fund Manager: Mr. Pankaj Tibrewal* PORTFOLIO

AAUM: `3,473.61 crs Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `3,425.16 crs Assets Assets
Benchmark: Nifty Free Float Equity & Equity related Future Retail Ltd. Retailing 1.41
Midcap 100 $ The Ramco Cements Ltd Cement 3.60 Federal Bank Ltd. Banks 1.36
Schaeffler India Ltd Industrial Products 3.34 Divi s Laboratories Limited Pharmaceuticals 1.28
Allotment date: March 30, 2007 RBL Bank Ltd Banks 3.26 Bata India Ltd. Consumer Durables 1.25
Folio count: 2,92,144 Bharat Financial Bharat Electronics Ltd Industrial Capital Goods 1.21
Inclusion Limited Finance 3.18 Eris Lifesciences Ltd Pharmaceuticals 1.19
Investment Objective Atul Ltd. Chemicals 3.12 Edelweiss Financial
The investment objective of the scheme is P I Industries Ltd Pesticides 3.05 Services Ltd Finance 1.18
to generate long-term capital appreciation Supreme Industries Limited Industrial Products 2.89 Kewal Kiran
from a portfolio of equity and equity related Thermax Ltd. Industrial Capital Goods 2.70 Clothing Limited. Textile Products 1.18
securities, by investing predominantly in Solar Industries Abbott India Ltd. Pharmaceuticals 1.13
mid companies. The scheme may also invest India Limited Chemicals 2.63 MRF Limited Auto Ancillaries 1.13
in debt and money market instruments, as Coromandel Lux Industries Limited Textile Products 1.01
per the asset allocation table. There is no International Ltd. Fertilisers 2.50 Jindal Steel & Power Ltd. Ferrous Metals 0.96
assurance that the investment objective of AU Small Finance Hawkins Cooker Ltd Household Appliances 0.95
the scheme will be achieved. Bank Ltd. Banks 2.48 Navneet Education Ltd. Media and Entertainment 0.92
Shriram City Union Gujarat State Petronet Ltd. Gas 0.91
Available Plans/Options Finance Ltd. Finance 2.46 TI Financial Holding ltd. Finance 0.91
A) Regular Plan B) Direct Plan Shree Cement Ltd. Cement 2.29 Whirlpool of India Ltd. Consumer Durables 0.91
Options: Dividend Payout, Dividend Kajaria Ceramics Ltd. Construction 2.23 Eveready Industries
Reinvestment & Growth (applicable for all Apollo Hospitals India Ltd. Consumer Non Durables 0.79
plans) Enterprises Ltd. Healthcare Services 2.22 BEML Ltd Industrial Capital Goods 0.75
Indraprastha Gas Ltd. Gas 2.10 Laurus Labs Ltd Pharmaceuticals 0.74
Dividend Frequency SRF Ltd. Textile Products 2.05 Persistent Systems Limited Software 0.73
Trustee s Discretion Emami Ltd. Consumer Non Durables 1.88 Kirloskar Oil Engines Ltd. Industrial Products 0.63
Ratios Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.85 PNC Infratech Ltd Construction 0.61
Oberoi Realty Ltd Construction 1.79 Ramkrishna Forgings Ltd. Industrial Products 0.61
Portfolio Turnover 31.88% Finolex Cables Ltd. Industrial Products 1.78 V-Guard Industries Ltd. Industrial Capital Goods 0.52
SKF India Ltd Industrial Products 1.74 ICICI Securities Ltd Finance and Investments 0.39
$
Beta 0.84 City Union Bank Ltd. Banks 1.73 Sheela Foam Ltd Consumer Durables 0.38
Sundaram Finance Ltd. Finance 1.72 D-Link (India) Ltd Hardware 0.18
$
Sharpe## 0.44 Amara Raja Batteries Ltd. Auto Ancillaries 1.71 WPIL Ltd Industrial Products 0.16
Exide Industries Ltd Auto Ancillaries 1.70 Sundaram Finance
$
Standard Deviation 16.60% Voltas Ltd. Construction Project 1.65 Holdings Limited. Finance 0.07
Tata Global Equity & Equity
$
Source: ICRA MFI Explorer. Beverages Limited Consumer Non Durables 1.64 Related - Total 98.24
APL Apollo Tubes Limited Ferrous Metals 1.63 Term Deposits
Minimum Investment Amount Ratnamani Metals & HDFC Bank Ltd. 0.15
Initial Investment: `5000 and in multiple of Tubes Ltd. Ferrous Metals 1.51 Term Deposits - Total 0.15
`1 for purchase and for `0.01 for switches Mahindra & Mahindra Triparty Repo 2.30
Additional Investment: `1000 & in Financial Services Ltd. Finance 1.47 Net Current Assets/
multiples of `1 Godrej Agrovet Ltd Consumer Non Durables 1.45 (Liabilities) -0.69
Ideal Investments Horizon: 3 years & above Motherson Sumi Grand Total 100.00
Systems Ltd. Auto Ancillaries 1.44
Load Structure
Entry Load: Nil. (applicable for all plans) Notes: Term Deposit as provided above is towards margin for derivatives transactions.
Exit Load: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 6.14%, 74.73% & 17.38 %.
a) For redemptions / switch outs (including
SIP/STP) within 1 year from the date of SECTOR ALLOCATION (%)
allotment of units:1%.
b) For redemption/switch outs (including
SIP/STP) after 1 year from the date of 19.33 16.32 9.72 6.89 6.28 6.19 5.90 5.75 5.55 4.24
allotment of units: Nil.
Scheme
Total Expense Ratio**
Regular: 2.16%; Direct: 0.80% 1.84
27.43 5.25 14.59 7.61 4.80 9.96 1.26 1.64 2.97
Benchmark

Financial Services Industrial Manufacturing Consumer Goods Automobile Construction

Data as on January 31, 2019
Pharma Cement & Cement Products Chemicals Fertilisers & Pesticides Textiles

Product Label SYSTEMATIC INVESTMENT PLAN (SIP)

Riskometer
Systematic Investment Plan (SIP) If you had invested `10,000 every month
Moderate Mo
t el y d Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
era Higerat
odLow h e
Total amount invested (`) 14,30,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
M

ly

Total Value as on Jan 31, 2019 (`) 36,88,908 28,53,399 15,16,308 7,88,842 3,79,702 1,11,468
Low

High

Scheme Returns (%) 14.93 16.51 16.57 10.88 3.49 -12.87

LOW HIGH Nifty Midcap 100 (TRI) (`)# 31,59,708 23,57,355 13,21,202 7,43,475 3,72,053 1,09,061
Investors understand that their principal will be at moderately high risk
Nifty Midcap 100 (TRI) Returns (%) 12.58 12.95 12.71 8.50 2.15 -16.40
This product is suitable for investors who are seeking*:
Long term capital growth Nifty 50 (TRI) (`)^ 28,36,440 21,71,162 12,70,782 7,74,302 4,23,385 1,21,016
Investment in equity & equity related securities
predominantly in mid cap companies. Nifty 50 (TRI) Returns (%) 10.92 11.40 11.62 10.13 10.81 1.57
* Investors should consult their financial advisors if in
doubt about whether the product is suitable for them.

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 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).
Kotak Emerging Equity Scheme NAV as on January 31, 2019: `21.899 (Dividend Option), `25.449 (Direct Dividend Option), `35.688 (Growth Option), `38.231 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59. $ With Effect from 25th May 2018, the Benchmark is changed to Nifty Free Float Midcap 100.

7
6
 Investment style
Value Blend Growth Size
KOTAK EQUITY OPPORTUNITIES FUND Large
(Erstwhile Kotak Opportunities) Mid

Large & mid cap fund - An open-ended equity scheme investing in both large cap and mid cap stocks Small

Fund Manager: Mr. Harsha PORTFOLIO

Upadhyaya*
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AAUM: `2,352.86 crs Assets Assets
AUM: `2,331.74 crs
Equity & Equity related Century Textiles &
Benchmark: Nifty 200 $
HDFC Bank Ltd. Banks 6.69 Industries Ltd. Cement 1.11
Allotment date: September 9, 2004 Reliance Industries Ltd. Petroleum Products 6.05 Indian Bank Banks 1.11
Folio count: 1,38,515 ICICI Bank Ltd. Banks 5.59 Cummins India Ltd. Industrial Products 1.10
Tata Consultancy Supreme Industries Limited Industrial Products 1.07
Investment Objective Services Ltd. Software 5.31 TI Financial Holding ltd. Finance 1.01
The investment objective of the scheme is Infosys Ltd. Software 5.14 BEML Ltd Industrial Capital Goods 0.94
to generate capital appreciation from a Larsen And Toubro Ltd. Construction Project 3.95 Linde India Ltd. Chemicals 0.89
diversified portfolio of equity and equity Axis Bank Ltd Banks 3.87 Healthcare Global
related securities. The scheme will invest Bharat Financial Enterprises Ltd Healthcare Services 0.77
predominantly in a mix of large and mid cap
Inclusion Limited Finance 3.75 Heritage Foods Ltd Consumer Non Durables 0.71
stocks from various sectors, which look
promising, based on the growth pattern in Thermax Ltd. Industrial Capital Goods 2.96 JK Cement Ltd. Cement 0.68
the economy. There is no assurance that the Gujarat State Petronet Ltd. Gas 2.87 Edelweiss Financial
investment objective of the scheme will be Coromandel Services Ltd Finance 0.65
achieved. International Ltd. Fertilisers 2.85 Emami Ltd. Consumer Non Durables 0.62
AIA Engineering Limited Industrial Products 2.76 Avenue Supermarts Ltd Retailing 0.59
Available Plans/Options
A) Regular Plan B) Direct Plan The Ramco Cements Ltd Cement 2.38 Techno Electric &
Dr Reddys Laboratories Ltd Pharmaceuticals 2.33 Engineering
Options: Dividend Payout, Dividend Indraprastha Gas Ltd. Gas 2.19 Company Limited Construction Project 0.49
Reinvestment & Growth (applicable for all Petronet LNG Ltd. Gas 2.15 Arvind Fashion Ltd. Textile Products 0.44
plans)
Bata India Ltd. Consumer Durables 2.04 Arvind Ltd Textile Products 0.23
Dividend Frequency Schaeffler India Ltd Industrial Products 2.03 Swaraj Engines Ltd Industrial Products 0.12
Trustee s Discretion ICICI Lombard General Anup Engineering Ltd. Textile Products 0.08
Ratios Insurance Company Ltd Finance 1.89 Equity & Equity
SRF Ltd. Textile Products 1.81 Related - Total
Portfolio Turnover 96.35% Godrej Agrovet Ltd Consumer Non Durables 1.71 Preference Shares 98.33
$
Max Financial Services Ltd. Finance 1.71 6 Redm Preference Sh Zee
Beta 0.96 GAIL (India) Ltd. Gas 1.68 Entertainment
$
Sharpe ## Shree Cement Ltd. Cement 1.68 Enterprises Ltd Media and Entertainment 0.04
0.51
AU Small Finance Bank Ltd. Banks 1.47 Preference Share - Total 0.04
$
Standard Deviation 14.36% Colgate Palmolive Term Deposits
(India) Ltd. Consumer Non Durables 1.43 HDFC Bank Ltd. 0.43
Source: $ICRA MFI Explorer.
Jubilant Foodworks Limited Consumer Non Durables 1.35 Term Deposits - Total 0.43
Minimum Investment Amount DR.Lal Pathlabs Ltd Healthcare Services 1.27 Triparty Repo 1.42
Initial Investment: `5000 and in multiple of Jindal Steel & Power Ltd. Ferrous Metals 1.27 Net Current Assets/
`1 for purchase and for `0.01 for switches Bharat Electronics Ltd Industrial Capital Goods 1.26 (Liabilities) -0.22
Additional Investment: `1000 & in Odisha Cement Ltd Services 1.15 Grand Total 100.00
multiples of `1 Lupin Ltd. Pharmaceuticals 1.13
Ideal Investments Horizon: 3 years & above
Load Structure Note: Term Deposit as provided above is towards margin for derivatives transactions.
Entry Load: Nil. (applicable for all plans) Note: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 49.48%, 41.08% & 7.77%.
Exit Load:
a) For redemptions / switch outs (including SECTOR ALLOCATION (%)
SIP/STP) within 1 year from the date of
allotment of units: 1% 4.44 2.85
b) For redemptions / switch outs (including
26.73 14.93 12.30 10.46 8.44 7.01 3.46 2.48
SIP/STP) after 1 year from the date of
allotment of units: NIL Scheme
Total Expense Ratio** 3.57 0.70
Regular: 2.13%; Direct: 1.10% 34.28 13.31 1.18 12.36 13.31 2.14 4.50 0.34
Benchmark

Financial Services Energy Industrial Manufacturing Information Technology Consumer Goods

Data as on January 31, 2019 Cement & Cement Products Construction Pharma Fertilisers & Pesticides Textiles

Product Label SYSTEMATIC INVESTMENT PLAN (SIP)

Riskometer
Systematic Investment Plan (SIP) If you had invested `10,000 every month
Moderate Mo
t el y d Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
era Higerat
odLow h e
Total amount invested (`) 17,30,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
M

ly

Total Value as on Jan 31, 2019 (`) 50,94,610 23,77,727 13,42,700 7,69,934 3,97,939 1,17,421
Low

High

Scheme Returns (%) 13.82 13.11 13.16 9.90 6.61 -3.95

LOW HIGH Nifty 200 (TRI) (`)# 43,58,395 22,11,794 12,88,797 7,70,777 4,13,493 1,18,264
Investors understand that their principal will be at moderately high risk

This product is suitable for investors who are seeking*:

Nifty 200 (TRI) Returns (%) 11.91 11.75 12.01 9.95 9.20 -2.66
Long term capital growth Nifty 50 (TRI) (`)^ 43,38,791 21,71,109 12,70,782 7,74,302 4,23,385 1,21,016
Investment in portfolio of predominantly equity &
equity related securities of large & midcap companies. Nifty 50 (TRI) Returns (%) 11.86 11.40 11.62 10.13 10.81 1.57
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

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).
Kotak Equity Opportunities Fund (Erstwhile Kotak Opportunities) NAV as on January 31, 2019: `23.511 (Dividend Option), `25.355 (Direct Dividend Option), `111.379 (Growth Option), `118.749 (Direct Growth
Option)
*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59. $ With Effect from 1st June 2018, the Benchmark Name is changed to Nifty 200 TRI from Nifty 500 TRI.
The above performance is benchmarked to Nifty 200 TRI

7 7
 Investment style
Value Blend Growth Size
KOTAK BLUECHIP FUND Large
(Erstwhile Kotak Mahindra 50 Unit Scheme) Mid

Large cap fund - An open-ended equity scheme predominantly investing in large cap stocks Small

Fund Manager: Mr. Harish Krishnan* PORTFOLIO

AAUM: `1,333.46 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `1,329.95 crs Assets Assets
Benchmark: NIFTY 50
Equity & Equity related Financial Services Ltd. Finance 0.91
Allotment date: December 29, 1998 HDFC Bank Ltd. Banks 8.84 Amara Raja Batteries Ltd. Auto Ancillaries 0.90
Folio count: 95,349 Reliance Industries Ltd. Petroleum Products 8.44 Supreme Industries Limited Industrial Products 0.90
ICICI Bank Ltd. Banks 6.65 Bharat Electronics Ltd Industrial Capital Goods 0.88
Investment Objective Infosys Ltd. Software 5.68 Ultratech Cement Ltd. Cement 0.86
To generate capital appreciation from a Axis Bank Ltd Banks 4.34 Wipro Ltd. Software 0.86
portfolio of predominantly equity and ITC Ltd. Consumer Non Durables 3.98 Pfizer Ltd. Pharmaceuticals 0.84
equity related securities falling under the HDFC Ltd. Finance 3.90 The Ramco Cements Ltd Cement 0.81
category of large cap companies. There is Tech Mahindra Ltd. Software 3.16 Sun TV Network Ltd. Media and Entertainment 0.80
no assurance that the investment objective State Bank Of India Banks 3.09 Ashok Leyland Ltd. Auto 0.79
Larsen And Toubro Ltd. Construction Project 3.06 Eicher Motors Ltd Auto 0.70
of the scheme will be achieved.
Tata Consultancy Gujarat Gas Ltd Gas 0.69
Available Plans/Options Services Ltd. Software 3.03 Coromandel
A) Regular Plan B) Direct Plan Mahindra & Mahindra Ltd. Auto 2.43 International Ltd. Fertilisers 0.68
IndusInd Bank Ltd. Banks 1.98 Odisha Cement Ltd Services 0.67
Options: Dividend Payout, Dividend Asian Paints Ltd. Consumer Non Durables 1.97 Inter Globe Aviation Ltd Transportation 0.63
Reinvestment & Growth (applicable for all GlaxoSmithkline Tata Steel Limited. Ferrous Metals 0.63
plans) Consumer Healthcare Ltd Consumer Non Durables 1.49 Bharat Petroleum
Dividend Frequency Motherson Sumi Corporation Ltd. Petroleum Products 0.52
Trustee s Discretion Systems Ltd. Auto Ancillaries 1.37 Edelweiss Financial
RBL Bank Ltd Banks 1.35 Services Ltd Finance 0.46
Ratios Dabur India Ltd Consumer Non Durables 1.23 Zee Entertainment
ICICI Lombard General Enterprises Ltd Media and Entertainment 0.43
Portfolio Turnover 80.55% Insurance Company Ltd Finance 1.22 Bharat Financial Inclusion
$
GAIL (India) Ltd. Gas 1.19 Limited Finance 0.20
Beta 0.98 HDFC Standard Life Equity & Equity
$
Insurance Company Ltd Finance 1.19 Related - Total 97.42
Sharpe## 0.32 Bata India Ltd. Consumer Durables 1.18 Options
Shree Cement Ltd. Cement 1.18 Bank Of Baroda -
$
Standard Deviation 14.08%
Solar Industries 115.000 -Call Option -
$
India Limited Chemicals 1.14 February 2019 0.02
Source: ICRA MFI Explorer. Sun Pharmaceuticals Options - Total 0.02
Minimum Investment Amount Industries Ltd. Pharmaceuticals 1.11 Mutual Fund Units
Initial Investment: `1000 and in multiple of Hindustan Zinc Ltd. Non - Ferrous Metals 1.07 Reliance Mutual Fund
Sanofi India Ltd. Pharmaceuticals 1.07 CPSE ETF Mutual Fund 0.44
`1 for purchase and for `0.01 for switches
Nestle India Ltd. Consumer Non Durables 1.05 Mutual Fund Units - Total 0.44
Additional Investment: `1000 & in multiples
Cadila Healthcare Ltd. Pharmaceuticals 1.02 Term Deposits
of `1 Maruti Suzuki India Limited Auto 1.00 HDFC Bank Ltd. 0.49
Ideal Investments Horizon: 3 years & above Britannia Industries Ltd. Consumer Non Durables 0.99 Term Deposits - Total 0.49
Load Structure Schaeffler India Ltd Industrial Products 0.99 Triparty Repo 1.81
Entry Load: Nil. (applicable for all plans) Indraprastha Gas Ltd. Gas 0.96 Net Current Assets/
Exit Load: Bandhan Bank Limited Banks 0.91 (Liabilities) -0.18
a) For redemptions / switch outs (including Mahindra & Mahindra Grand Total 100.00
SIP/STP) within 1 year from the date of
Note: Term Deposit as provided above is towards margin for derivatives transactions
allotment of units: 1%.
Note: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 82.44%, 14.76% & 0.67%.
b) For redemption/switch outs (including
SIP/STP) after 1 year from the date of
allotment of units: Nil. SECTOR ALLOCATION (%)
Total Expense Ratio**
Regular: 2.22%; Direct: 1.16% 3.53 2.77
35.06 12.73 11.89 11.80 7.20 4.05 3.06 2.56
Scheme

1.51
37.80 14.71 10.87 15.22 6.48 2.44 3.75
Benchmark

Financial Services Information Technology Consumer Goods Energy Automobile Pharma

Cement & Cement Products Construction Industrial Manufacturing Cash & Cash Equivalent
Data as on January 31, 2019
Product Label
Riskometer SYSTEMATIC INVESTMENT PLAN (SIP)
t el y
Moderate Mo
d Systematic Investment Plan (SIP) If you had invested `10,000 every month
era Higerat
odLow h e Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
M

ly

Total amount invested (`) 19,20,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
Low

High

Total Value as on Jan 31, 2019 (`) 67,55,525 21,25,070 12,36,245 7,34,240 3,93,304 1,17,334
LOW HIGH
Scheme Returns (%) 14.29 11.00 10.85 8.00 5.83 -4.08
Investors understand that their principal will be at moderately high risk Nifty 50 (TRI) (`)# 62,03,992 21,71,162 12,70,782 7,74,302 4,23,385 1,21,016
This product is suitable for investors who are seeking*:
Long term capital growth Nifty 50 (TRI) Returns (%) 13.37 11.40 11.62 10.13 10.81 1.57
Investment in portfolio of predominantly equity & equity
related securities of large cap companies S&P BSE SENSEX (TRI) (`)^ 63,29,045 22,19,553 12,95,176 7,88,810 4,34,403 1,22,854
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them. S&P BSE SENSEX (TRI) Returns (%) 13.59 11.82 12.15 10.88 12.58 4.42

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 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.
Kotak Bluechip Fund (Erstwhile Kotak Mahindra 50 Unit Scheme) NAV as on January 31, 2019: `31.772 (Dividend Option), `34.684 (Direct Dividend Option), `217.946 (Growth Option), `232.266 (Direct Growth
Option)
*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

8
 Investment style
Value Blend Growth Size
KOTAK SMALL CAP FUND Large
(Erstwhile Kotak Midcap Scheme) Mid

Small cap fund - An open-ended equity scheme predominantly investing in small cap stocks Small

Fund Manager: Mr. Pankaj Tibrewal* PORTFOLIO

AAUM: `1,053.72 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `1,038.26 crs Assets Assets
Benchmark: NIFTY Smallcap 50 $
Equity & Equity related Mahindra & Mahindra
Allotment date: February 24, 2005 Solar Industries Financial Services Ltd. Finance 1.44
Folio count: 61,796 India Limited Chemicals 2.90 Coromandel
Ratnamani Metals & International Ltd. Fertilisers 1.42
Tubes Ltd. Ferrous Metals 2.74 Hindustan Oil Exploration
Investment Objective
Dixon Technologies India Ltd Consumer Durables 2.71 Company Ltd. Oil 1.40
However, there is no assurance that the
Techno Electric & Hawkins Cooker Ltd Household Appliances 1.38
objective of the scheme will be realized the
Engineering Supreme Industries Limited Industrial Products 1.38
investment objective of the scheme is to
Company Limited Construction Project 2.55 Shoppers Stop Ltd. Retailing 1.37
generate capital appreciation from a
JMC Projects (India) Ltd Construction 2.48 Aavas Financiers Ltd Finance 1.36
diversified portfolio of equity and equity
Prataap Snacks Ltd Consumer Non Durables 2.38 Vardhman Textiles Ltd. Textiles - Cotton 1.34
related securities by investing ...........
JK Cement Ltd. Cement 2.32 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.19
predominantly in small cap companies.
Atul Ltd. Chemicals 2.27 Century Plyboards (India) Ltd. Consumer Durables 1.16
There is no assurance that the investment
Galaxy Surfactants Ltd Chemicals 2.27 Laurus Labs Ltd Pharmaceuticals 1.12
objective of the scheme will be achieved.
Sheela Foam Ltd Consumer Durables 2.24 MRF Limited Auto Ancillaries 1.09
Available Plans/Options APL Apollo Tubes Limited Ferrous Metals 2.19 Finolex Cables Ltd. Industrial Products 1.08
A) Regular Plan B) Direct Plan The Ramco Cements Ltd Cement 2.19 BEML Ltd Industrial Capital Goods 1
Eveready Industries India Ltd. Consumer Non Durables 2.14 Apar Industries Limited Industrial Capital Goods 0.98
Options: Dividend Payout, Dividend
P I Industries Ltd Pesticides 2.12 Cadila Healthcare Ltd. Pharmaceuticals 0.93
Reinvestment & Growth (applicable for all
Mahindra Lifespace Motherson Sumi Systems Ltd. Auto Ancillaries 0.93
plans)
Developers Ltd Construction 2.06 Ipca Laboratories Ltd. Pharmaceuticals 0.84
Dividend Frequency AU Small Finance Bank Ltd. Banks 2.05 Shree Cement Ltd. Cement 0.84
Trustee s Discretion Kajaria Ceramics Ltd. Construction 2.05 SKF India Ltd Industrial Products 0.82
Blue Star Ltd. Consumer Durables 1.95 Great Eastern
Ratios
Heritage Foods Ltd Consumer Non Durables 1.92 Shipping Company Ltd Transportation 0.78
Portfolio Turnover 59.41% Schaeffler India Ltd Industrial Products 1.92 Strides Pharma Science Ltd Pharmaceuticals 0.71
Apollo Pipes Ltd Industrial Products 1.90 Arvind Fashion Ltd. Textile Products 0.70
$
Beta 0.63 RBL Bank Ltd Banks 1.89 Sundaram Finance Ltd. Finance 0.67
V-Guard Industries Ltd. Industrial Capital Goods 1.86 Navneet Education Ltd. Media and Entertainment 0.64
$
Sharpe## 0.26 WPIL Ltd Industrial Products 1.83 Varroc Engineering Ltd. Auto Ancillaries 0.57
ICICI Bank Ltd. Banks 1.77 Sadbhav Engineering Ltd. Construction Project 0.52
$
Standard Deviation 17.71% Nilkamal Ltd Industrial Products 1.74 Arvind Ltd Textile Products 0.43
$
IndusInd Bank Ltd. Banks 1.73 Carborundum Universal Ltd. Industrial Products 0.40
Source: ICRA MFI Explorer. Lux Industries Limited Textile Products 1.71 Vinati Organics Ltd Chemicals 0.18
Minimum Investment Amount V.S.T Tillers Tractors Ltd Auto 1.65 Anup Engineering Ltd. Textile Products 0.12
Initial Investment: `5000 and in multiple of Persistent Systems Limited Software 1.62 Solara Active Pharma
`1 for purchase and for `0.01 for switches Security and Intelligence Sciences Ltd. Pharmaceuticals 0.10
Additional Investment: `1000 & in Services India Ltd Commercial Services 1.56 Equity & Equity
multiples of `1 Amber Enterprises India Ltd Consumer Durables 1.55 Related - Total 99.75
Ideal Investments Horizon: 3 years & above Shriram City Union Triparty Repo 0.69
Finance Ltd. Finance 1.55 Net Current Assets/
Load Structure Thermax Ltd. Industrial Capital Goods 1.53 (Liabilities) -0.44
Entry Load: Nil. (applicable for all plans) Kewal Kiran Clothing Limited. Textile Products 1.52 Grand Total 100.00
Exit Load:
a) For redemptions / switch outs (including Term Deposit as provided above is towards margin for derivatives transactions
SIP/STP) within 1 year from the date of Note: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 7.29%, 26.75% & 65.70%.
allotment of units:1%
b) For redemptions / switch outs (including
SIP/STP) after 1 year from the date of SECTOR ALLOCATION (%)
allotment of units: NIL
Total Expense Ratio** 17.43 14.66 14.36 9.65 7.62 5.70 5.35 4.93 4.89 4.25
Regular: 2.38%; Direct: 0.97% Scheme

2.27 3.49
6.24 6.60 25.31 9.87 4.39 3.14 2.07 1.82
Benchmark

Consumer Goods Industrial Manufacturing Financial Services Construction Chemicals

Data as on January 31, 2019 Textiles Cement & Cement Products Metals Pharma Automobile

Product Label
Riskometer
SYSTEMATIC INVESTMENT PLAN (SIP)
Moderate Mo
Systematic Investment Plan (SIP) If you had invested `10,000 every month
t el y d
era Higerat Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
odLow h e
M

ly

Total amount invested (`) 16,80,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
Total Value as on Jan 31, 2019 (`) 45,04,334 25,39,381 13,46,513 7,26,567 3,58,508 1,07,603
Low

High

Scheme Returns (%) 13.08 14.34 13.24 7.58 -0.27 -18.52

LOW HIGH
Nifty Smallcap 50 (TRI) (`)# NA 16,33,455 10,22,684 5,83,290 3,09,382 99,486
Investors understand that their principal will be at moderately high risk
This product is suitable for investors who are seeking*: Nifty Smallcap 50 (TRI) Returns (%) NA 6.21 5.81 -1.19 -10.76 -39.74
Long term capital growth
Investment in equity & equity related securities Nifty 50 (TRI) (`)^ 39,87,998 21,71,162 12,70,782 7,74,302 4,23,385 1,21,016
predominantly in small cap Stocks.
* Investors should consult their financial advisors if in Nifty 50 (TRI) Returns (%) 11.53 11.40 11.62 10.13 10.81 1.57
doubt about whether the product is suitable for them.

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 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).
Kotak Small Cap Fund (Erstwhile Kotak Midcap Scheme) as on January 31, 2019: `34.416 (Dividend Option), `37.302 (Direct Dividend Option), `66.657 (Growth Option), `71.764 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59. $ With Effect from 25th May 2018, the Benchmark is changed to Nifty Small cap 50 TRI

7
9
 Investment style
Value Blend Growth Size
KOTAK TAX SAVER Large
Mid

An open-ended equity linked saving scheme with a statutory lock in of 3 years and tax benefits Small

Fund Manager: Mr. Harsha PORTFOLIO

Upadhyaya*
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AAUM: `777.22 crs Assets Assets
AUM: `780.66 crs
Equity & Equity related Cadila Healthcare Ltd. Pharmaceuticals 1.02
Benchmark: Nifty 500
Reliance Industries Ltd. Petroleum Products 7.29 Cummins India Ltd. Industrial Products 1.01
Allotment date: November 23, 2005 HDFC Bank Ltd. Banks 6.39 Gujarat State Petronet Ltd. Gas 1.01
Folio count: 1,37,641 ICICI Bank Ltd. Banks 6.19 ABB Ltd. Industrial Capital Goods 0.98
Axis Bank Ltd Banks 5.55 Amara Raja Batteries Ltd. Auto Ancillaries 0.95
Investment Objective
Tata Consultancy Techno Electric &
The investment objective of the scheme is
to generate long-term capital appreciation Services Ltd. Software 4.39 Engineering
from a diversified portfolio of equity and Infosys Ltd. Software 4.32 Company Limited Construction Project 0.93
equity related securities and enable GlaxoSmithkline Linde India Ltd. Chemicals 0.92
investors to avail the income tax rebate, as
Consumer Healthcare Ltd Consumer Non Durables 4.23 Hindalco Industries Ltd Non - Ferrous Metals 0.87
permitted from time to time however, there
is no assurance that the objective of the Larsen And Toubro Ltd. Construction Project 4.12 JMC Projects (India) Ltd Construction 0.86
scheme will be realized. AU Small Finance Bank Ltd. Banks 2.96 Vedanta Ltd. Non - Ferrous Metals 0.82
Available Plans/Options Bharat Financial APL Apollo Tubes Limited Ferrous Metals 0.71
A) Regular Plan B) Direct Plan Inclusion Limited Finance 2.66 Hindustan Oil Exploration
Options: Dividend Payout & Growth SKF India Ltd Industrial Products 2.46 Company Ltd. Oil 0.71
(applicable for all plans) Shree Cement Ltd. Cement 2.42 Max Financial Services Ltd. Finance 0.69
Dividend Frequency Thermax Ltd. Industrial Capital Goods 2.39 Aavas Financiers Ltd Finance 0.63
Trustee s Discretion RBL Bank Ltd Banks 2.22 Jindal Steel & Power Ltd. Ferrous Metals 0.61
GAIL (India) Ltd. Gas 2.13 Kirloskar Oil Engines Ltd. Industrial Products 0.61
Ratios
Bajaj Auto Ltd. Auto 1.96 Strides Pharma Science Ltd Pharmaceuticals 0.59
Portfolio Turnover 76.03% SRF Ltd. Textile Products 1.93 Hawkins Cooker Ltd Household Appliances 0.56
$ Ultratech Cement Ltd. Cement 1.80 Blue Dart Express Ltd. Transportation 0.35
Beta 0.97
Whirlpool of India Ltd. Consumer Durables 1.74 Ksb Ltd Industrial Products 0.35
$
Sharpe## 0.50 Odisha Cement Ltd Services 1.72 Arvind Fashion Ltd. Textile Products 0.11
$ Solar Industries India Limited Chemicals 1.71 Anup Engineering Ltd. Textile Products 0.02
Standard Deviation 14.74%
Lupin Ltd. Pharmaceuticals 1.68 Equity & Equity
Source: $ICRA MFI Explorer. Nestle India Ltd. Consumer Non Durables 1.47 Related - Total 98.55
Minimum Investment Amount Tech Mahindra Ltd. Software 1.41 Preference Shares
Initial Investment: `500 and in multiple of Dr Reddys Laboratories Ltd Pharmaceuticals 1.39 6 Redm Preference
`500 Mahanagar Gas Ltd Gas 1.18 Sh Zee Entertainment
Additional Investment: `500 & in multiples
Bata India Ltd. Consumer Durables 1.15 Enterprises Ltd Media and Entertainment 0.08
of `500
Ideal Investments Horizon: 3 years & above Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.15 Preference Share - Total 0.08
The Ramco Cements Ltd Cement 1.15 Triparty Repo 1.41
Load Structure
Entry Load: Nil. (applicable for all plans) Container Corporation of Net Current Assets/
Exit Load: Exit Load is not applicable for India Ltd. Transportation 1.05 (Liabilities) -0.04
Kotak Tax Saver Scheme. (applicable for all AIA Engineering Limited Industrial Products 1.03 Grand Total 100.00
plans)
Total Expense Ratio**
Regular: 2.38%; Direct: 1.34% SECTOR ALLOCATION (%)

3.01
27.29 12.33 10.11 9.73 8.84 7.09 5.91 4.69 2.92
Scheme

2.12 4.77
32.68 12.34 11.66 13.62 2.43 3.91 3.33 6.66
Benchmark

Financial Services Energy Information Technology Consumer Goods Industrial Manufacturing

Data as on January 31, 2019 Cement & Cement Products Construction Pharma Metals Automobile

Product Label
Riskometer SYSTEMATIC INVESTMENT PLAN (SIP)
t el y
Moderate Mo
d Systematic Investment Plan (SIP) If you had invested `10,000 every month
era Higerat
odLow h e Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
M

ly

Total amount invested (`) 15,90,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
Low

High

Total Value as on Jan 31, 2019 (`) 34,61,025 22,71,554 13,17,504 7,71,534 4,01,534 1,19,248

LOW HIGH
Scheme Returns (%) 11.04 12.25 12.63 9.99 7.21 -1.16
Investors understand that their principal will be at moderately high risk Nifty 500 (TRI) (`)# 34,97,635 22,13,014 12,89,399 7,66,537 4,08,428 1,17,005
This product is suitable for investors who are seeking*:
long term capital growth with a 3 year lock in Nifty 500 (TRI) Returns (%) 11.19 11.76 12.03 9.73 8.36 -4.58
Investment in portfolio of predominantly equity &
equity related securities. Nifty 50 (TRI) (`)^ 34,53,591 21,71,162 12,70,782 7,74,302 4,23,385 1,21,016
* Investors should consult their financial advisors if in
doubt about whether the product is suitable for them. Nifty 50 (TRI) Returns (%) 11.02 11.40 11.62 10.13 10.81 1.57
7

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 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).
Kotak Tax Saver NAV as on January 31, 2019: `17.874 (Dividend Option), `21.087 (Direct Dividend Option), `40.991 (Growth Option) `44.267 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

10
 Investment style
Value Blend Growth Size
KOTAK INFRASTRUCTURE & Large

ECONOMIC REFORM FUND Mid

An open-ended equity scheme following infrastructure & economic reform Small

Fund Manager: Mr. Harish Krishnan* PORTFOLIO

AAUM: `383.13 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `369.33 crs Assets Assets
Benchmark: India Infrastructure
Equity & Equity related Sterlite Technologies Ltd Telecom - Equipment &
Index (Customised Accessories 1.84
Larsen And Toubro Ltd. Construction Project 5.69
Index by IISL) $ CESC Ltd. Power 1.69
Allotment date: February 25, 2008 Shree Cement Ltd. Cement 4.68
Kirloskar Oil Engines Ltd. Industrial Products 1.65
Folio count: 25,080 Indraprastha Gas Ltd. Gas 4.61
Bharat Electronics Ltd Industrial Capital Goods 1.60
Ultratech Cement Ltd. Cement 4.05
Investment Objective AU Small Finance Bank Ltd. Banks 1.58
The investment objective of the scheme is Thermax Ltd. Industrial Capital Goods 3.86
to generate long-term capital appreciation PNC Infratech Ltd Construction 1.54
Solar Industries
from a diversified portfolio of ......... Ratnamani Metals &
predominantly equity and equity-related India Limited Chemicals 3.82
securities of companies involved in........ Tubes Ltd. Ferrous Metals 1.49
Schaeffler India Ltd Industrial Products 3.57
economic development of India as a result Odisha Cement Ltd Services 1.40
of potential investments in infrastructure Container Corporation of
and unfolding economic reforms. However, APL Apollo Tubes Limited Ferrous Metals 1.35
India Ltd. Transportation 3.55
there is no assurance that the objective of WPIL Ltd Industrial Products 1.29
the scheme will be realized. SKF India Ltd Industrial Products 3.38
Sadbhav Engineering Ltd. Construction Project 1.26
Available Plans/Options GE Power India Limited Industrial Capital Goods 3.30
A) Regular Plan B) Direct Plan Kalpataru Power
BEML Ltd Industrial Capital Goods 3.23
Options: Dividend Payout, Dividend.......... Transmission Ltd. Power 1.11
Supreme Industries Limited Industrial Products 2.96
Reinvestment & Growth (applicable for all Mahindra Lifespace
plans) AIA Engineering Limited Industrial Products 2.83
Developers Ltd Construction 1.05
Dividend Frequency Gujarat Gas Ltd Gas 2.80
Trustee s Discretion Ashok Leyland Ltd. Auto 0.99
GAIL (India) Ltd. Gas 2.79
Ratios Techno Electric &
JMC Projects (India) Ltd Construction 2.77
31.27% Engineering
Portfolio Turnover Reliance Industries Ltd. Petroleum Products 2.56
Company Limited Construction Project 0.72
$
Beta 0.87 Cummins India Ltd. Industrial Products 2.45
Inter Globe Aviation Ltd Transportation 0.64
$ H G Infra Engineering Ltd. Construction Project 2.23
Sharpe## 0.21 Spencers Retail Ltd. Retailing 0.23
Hindustan Oil
$
Standard Deviation 17.04% CESC Ventures Ltd. Software 0.19
Exploration Company Ltd. Oil 2.16
Source: $ICRA MFI Explorer. Equity & Equity
Petronet LNG Ltd. Gas 2.16
Minimum Investment Amount Related - Total 99.10
Kajaria Ceramics Ltd. Construction 2.04
Initial Investment: `5000 and in multiple of Triparty Repo 1.19
`1 for purchase and for `0.01 for switches Amara Raja Batteries Ltd. Auto Ancillaries 2.02
Additional Investment: `1000 & in........ National Thermal Power Net Current Assets/
multiples of `1 (Liabilities) -0.29
Ideal Investments Horizon: 3 years & above Corporation Limited Power 2.02
The Ramco Cements Ltd Cement 1.95 Grand Total 100.00
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load: SECTOR ALLOCATION (%)
a) For redemptions / switch outs (including
SIP/STP) within 1 year from the date of.......
3.82 2.84
allotment of units: 1%;
30.12 21.89 17.32 12.08 4.19 3.01 1.84
b) For redemptions / switch outs (including 1.58
SIP/STP) after 1 year from the date of......... Scheme
allotment of units: NIL;
3.20
Total Expense Ratio**
8.70 27.77 15.62 13.25 7.43 5.48 7.74 10.81
Regular: 2.53%; Direct: 1.26%
Benchmark

Industrial Manufacturing Energy Construction Cement & Cement Products Services

Data as on January 31, 2019
Chemicals Automobile Metals Telecom Financial Services
Product Label
Riskometer
SYSTEMATIC INVESTMENT PLAN (SIP)
Moderate Mo
t el y d Systematic Investment Plan (SIP) If you had invested `10,000 every month
era Higerat
odLow h e
Monthly SIP of ` 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
M

ly

Total amount invested ( `) 13,20,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

Low

High

Total Value as on Jan 31, 2019 (`) 23,80,268 20,47,388 12,16,679 6,84,019 3,50,469 1,07,618
LOW HIGH Scheme Returns (%) 10.27 10.30 10.40 5.18 -1.73 -18.49
Investors understand that their principal will be at high risk
India Infrastructure Index (Customised Index by IISL) (TRI) (`)# 15,10,109 13,51,553 9,11,199 5,91,169 3,36,184 1,06,651
This product is suitable for investors who are seeking*:
Long term capital growth India Infrastructure Index (Customised Index by IISL)(TRI) Returns (%) 2.40 2.34 2.29 -0.58 -4.39 -19.89
Long term capital appreciation by investing in equity and
equity related instruments of companies contributing to Nifty 50 (TRI) ( `)^ 25,40,062 21,71,162 12,70,782 7,74,302 4,23,385 1,21,016
infrastructure and economic development of India
* Investors should consult their financial advisors if in doubt Nifty 50 (TRI) Returns (%) 11.37 11.40 11.62 10.13 10.81 1.57
about whether the product is suitable for them.

Scheme Inception : - February 25, 2008. 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 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).
Kotak Infrastructure & Economic Reform Fund NAV as on January 31, 2019: `16.535 (Dividend Option), `19.426 (Direct Dividend Option), `18.149 (Growth Option), `19.65 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59. $ With Effect from 25th May 2018, the Benchmark is changed to India Infrastructure Index (Customised Index by IISL)

7
11
 Investment style
Value Blend Growth Size
KOTAK INDIA EQ CONTRA FUND Large
(Erstwhile Kotak Classic Equity) Mid

An open-ended equity scheme following contrarian investment strategy Small

Fund Manager: Mr. Deepak Gupta* PORTFOLIO

AAUM: `661.69 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `676.50 crs Assets Assets
Benchmark: NIFTY 100
Equity & Equity related Inter Globe Aviation Ltd Transportation 0.43
Allotment date: July 27, 2005 ICICI Bank Ltd. Banks 6.91 Zee Entertainment
Folio count: 39,793 Reliance Industries Ltd. Petroleum Products 6.59 Enterprises Ltd Media and Entertainment 0.42
Infosys Ltd. Software 5.19 RBL Bank Ltd Banks 0.41
Investment Objective Tata Consultancy JSW Steel Ltd. Ferrous Metals 0.36
The investment objective of the scheme is to Services Ltd. Software 5.02 Ircon International Ltd Construction Project 0.31
generate capital appreciation from a Hindustan Unilever Ltd. Consumer Non Durables 4.04 Indraprastha Gas Ltd. Gas 0.27
diversified portfolio of equity and equity Bajaj Finserv Ltd. Finance 0.26
Bajaj Finance Limited Finance 3.95
related instruments. However, there is no
Mahindra & Mahindra Ltd. Auto 2.98 Shriram Transport
assurance that the objective of the scheme
will be realized. Titan Company Ltd. Consumer Durables 2.91 Finance Co Ltd. Finance 0.26
Tech Mahindra Ltd. Software 2.71 AU Small Finance Bank Ltd. Banks 0.24
Available Plans/Options ITC Ltd. Consumer Non Durables 2.66 Motherson Sumi
A) Regular Plan B) Direct Plan Systems Ltd. Auto Ancillaries 0.23
Asian Paints Ltd. Consumer Non Durables 2.65
Options: Dividend Payout, Dividend HDFC Ltd. Finance 2.54 Godrej Agrovet Ltd Consumer Non Durables 0.21
Reinvestment & Growth (applicable for all Larsen And Toubro Ltd. Construction Project 2.39 IndusInd Bank Ltd. Banks 0.19
plans) GAIL (India) Ltd. Gas 2.27 Mahindra & Mahindra
Dividend Frequency Maruti Suzuki India Limited Auto 2.25 Financial Services Ltd. Finance 0.19
Trustee s Discretion State Bank Of India Banks 2.09 Sun TV Network Ltd. Media and Entertainment 0.19
Wipro Ltd. Software 1.87 Avenue Supermarts Ltd Retailing 0.15
Ratios
ACC Ltd. Cement 1.86 Aditya Birla Capital Ltd Finance 0.14
Portfolio Turnover 27.78% Bharat Financial Amber Enterprises India Ltd Consumer Durables 0.08
Inclusion Limited Finance 1.81 HDFC Bank Ltd. Banks 0.07
$
Beta 0.92 Biocon Ltd. Pharmaceuticals 1.44 Hindustan Petroleum
$ Britannia Industries Ltd. Consumer Non Durables 1.31 Corporation Ltd Petroleum Products 0.05
Sharpe## 0.67
Dabur India Ltd Consumer Non Durables 1.19 Equity & Equity
$
Standard Deviation 13.26% Jubilant Foodworks Limited Consumer Non Durables 1.16 Related - Total 79.66
Axis Bank Ltd Banks 1.08 Futures
Source: $ICRA MFI Explorer. HCL Technologies Ltd. Software 1.03 CNX NIFTY-FEB2019 5.04
Sun Pharmaceuticals HDFC Bank Ltd.-FEB2019 4.74
Minimum Investment Amount Industries Ltd. Pharmaceuticals 0.87 CNX BANK
Initial Investment: `5000 and in multiple of
Exide Industries Ltd Auto Ancillaries 0.70 INDEX-FEB2019 1.73
`1 for purchase and for `0.01 for switches
Voltas Ltd. Construction Project 0.67 Term Deposits
Additional Investment: `1000 & in multiples
of `1 Ashok Leyland Ltd. Auto 0.61 HDFC Bank Ltd. 2.29
Ideal Investments Horizon: 3 years & above Aavas Financiers Ltd Finance 0.54 IDFC Bank Limited 0.15
Bharti Airtel Ltd. Telecom - Services 0.50 Term Deposits - Total 2.44
Load Structure Tata Steel Limited. Ferrous Metals 0.49 Triparty Repo 17.44
Entry Load: Nil. (applicable for all plans)
Jindal Steel & Power Ltd. Ferrous Metals 0.47 Net Current Assets/
Exit Load:
a) For redemptions / switch outs (including Edelweiss Financial (Liabilities) 0.46
SIP/STP) within 1 year from the date of Services Ltd Finance 0.45 Grand Total 100.00
allotment of units: 1%.
b) For redemption/switch outs (including Note: #Term Deposit as provided above is towards margin for derivatives transactions
Equity Derivative Exposuer is 11.51%
SIP/STP) after 1 year from the date of
allotment of units: Nil.
SECTOR ALLOCATION (%)
Total Expense Ratio**
Regular: 2.54%; Direct: 1.30%
2.31
25.86 16.37 15.82 9.17 8.85 6.77 6.77 3.36 1.86
Scheme

3.80
35.17 13.15 13.05 13.89 6.90 3.41 2.25
Benchmark

Financial Services Consumer Goods Information Technology Energy Cash & Cash Equivalent
Data as on January 31, 2019 Others Automobile Construction Pharma Cement & Cement Products
Product Label
Riskometer
SYSTEMATIC INVESTMENT PLAN (SIP)
Moderate Mo
t el y d Systematic Investment Plan (SIP) If you had invested `10,000 every month
era Higerat
odLow h e
Monthly SIP of ` 10000
M

Since Inception 10 years 7 years 5 years 3 years 1 year

ly

Total amount invested ( `) 16,30,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

Low

High

Total Value as on Jan 31, 2019 (`) 38,75,850 23,15,025 13,26,920 7,91,089 4,24,455 1,19,144
LOW HIGH Scheme Returns (%) 11.93 12.61 12.83 10.99 10.98 -1.31
Investors understand that their principal will be at moderately high risk
This product is suitable for investors who are seeking*: Nifty 100 (TRI) ( `)# 38,18,689 22,35,596 12,91,388 7,75,745 4,18,544 1,19,548
Long term capital growth
Investment in portfolio of predominantly equity & equity
Nifty 100 (TRI) Returns (%) 11.73 11.95 12.07 10.21 10.02 -0.69
related securities
* Investors should consult their financial advisors if in doubt
Nifty 50 (TRI) ( `)^ 36,69,279 21,71,162 12,70,782 7,74,302 4,23,385 1,21,016
about whether the product is suitable for them.
Nifty 50 (TRI) Returns (%) 11.21 11.40 11.62 10.13 10.81 1.57

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 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).
Kotak India EQ Contra Fund (Erstwhile Kotak Classic Equity) NAV as on January 31, 2019: `20.176 (Dividend Option), `22.449 (Direct Dividend Option), `49.496 (Growth Option), `53.453 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

12
 Investment style
Value Blend Growth Size
KOTAK INDIA GROWTH FUND SERIES 4 Large
Mid
Multicap fund - A 36 months close ended equity scheme investing across large cap, Small
midcap and small cap stocks

Fund Manager: Mr. Devender Singhal* PORTFOLIO

(w.e.f. January 24,
2019) Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AAUM: `385.83 crs Assets Assets

AUM: `382.77 crs Equity & Equity related Saregama India Ltd. Media and Entertainment 1.21
Benchmark: Nifty 200 ICICI Bank Ltd. Banks 6.97 Tata Motors Ltd. Auto 1.14
ITC Ltd. Consumer Non Durables 6.04 Jubilant Foodworks Limited Consumer Non Durables 1.08
Allotment date: February 20, 2018
Reliance Industries Ltd. Petroleum Products 5.79 Titan Company Ltd. Consumer Durables 1.08
Folio count: 15,135 State Bank Of India Banks 3.95 Hindustan Petroleum
City Union Bank Ltd. Banks 3.84 Corporation Ltd Petroleum Products 0.99
Investment Objective
The investment objective of the scheme is Axis Bank Ltd Banks 2.94 Future Retail Ltd. Retailing 0.87
to generate capital appreciation from a Bata India Ltd. Consumer Durables 2.92 Hero MotoCorp Ltd. Auto 0.87
diversified portfolio of equity & equity The Ramco Cements Ltd Cement 2.72 CESC Ventures Ltd. Software 0.79
related instruments across market........ Colgate Palmolive (India) Ltd. Consumer Non Durables 2.62 Ashok Leyland Ltd. Auto 0.69
capitalisation and sectors. Tech Mahindra Ltd. Software 2.49 Aavas Financiers Ltd Finance 0.68
There is no assurance or guarantee that the Mahindra & Mahindra Ltd. Auto 2.43 Inter Globe Aviation Ltd Transportation 0.37
investment objective of the scheme will be CESC Ltd. Power 2.36 Spencers Retail Ltd. Retailing 0.35
achieved. HDFC Ltd. Finance 2.20 Equity & Equity
Available Plans/Options HDFC Bank Ltd. Banks 2.19 Related - Total 88.23
Emami Ltd. Consumer Non Durables 2.13 Futures
A)Regular Plan B) Direct Plan
GlaxoSmithkline Consumer HDFC Bank Ltd.-FEB2019 3.25
Options: Dividend Payout & Growth...... Healthcare Ltd Consumer Non Durables 2.12 IndusInd Bank Ltd.-
(applicable for all plans) RBL Bank Ltd Banks 2.08 FEB2019 1.47
Dividend Frequency Eris Lifesciences Ltd Pharmaceuticals 1.98 Inter Globe Aviation Ltd-
Trustee s Discretion JMC Projects (India) Ltd Construction 1.92 FEB2019 0.56
Ratios Prataap Snacks Ltd Consumer Non Durables 1.89 Titan Company Ltd.-
Larsen And Toubro Ltd. Construction Project 1.79 FEB2019 0.37
Portfolio Turnover 78.65% GMR Infrastructure Ltd. Construction Project 1.75 CNX NIFTY - 10500.000 -
Abbott India Ltd. Pharmaceuticals 1.69 Put Option - December 2020 5.01
Source: $ICRA MFI Explorer. IndusInd Bank Ltd. Banks 1.68 Term Deposits
Minimum Investment Amount Indraprastha Gas Ltd. Gas 1.48 HDFC Bank Ltd. 1.83
The scheme is a close ended scheme. The Infosys Ltd. Software 1.44 Term Deposits - Total 1.83
units of the scheme can be traded on the Apollo Tyres Ltd. Auto Ancillaries 1.41 Triparty Repo 4.81
stock exchange. Jindal Steel & Power Ltd. Ferrous Metals 1.41 Net Current Assets/
Load Structure Odisha Cement Ltd Services 1.35 (Liabilities) 5.13
Entry Load: Nil. (applicable for all plans) Bharat Forge Ltd. Industrial Products 1.29 Grand Total 100.00
Exit Load: Nil. (applicable for all plans) Eicher Motors Ltd Auto 1.24
Total Expense Ratio** Note: #Term Deposit as provided above is towards margin for derivatives transactions
Regular: 2.59%; Direct: 1.40% Equity Derivative Exposuer is 10.66%

SECTOR ALLOCATION (%)

4.07 3.66
31.25 21.12 10.62 7.79 5.45 5.01 3.93 1.41
Scheme

34.28 13.31 13.31 6.98 3.57 2.14 12.36 4.50 3.54

Benchmark

Financial Services Consumer Goods Energy Automobile Construction

Others Cement & Cement Products Information Technology Pharma Metals

Data as on January 31, 2019

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderately high risk

This product is suitable for investors who are seeking*:

Long term capital growth
Investment in equity and equity related securities
without any market capitalisation and sector bias.
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak India Growth Fund Series 4 NAV as on January 31, 2019: `8.941 (Dividend Option), `9.008 (Direct Dividend Option), `8.941 (Growth Option), `9.015 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

7
13
 Investment style
Value Blend Growth Size
KOTAK INDIA GROWTH FUND SERIES 5 Large
Mid

Multicap fund - A 1099 days close ended equity scheme investing across large cap, Small
midcap and small cap stocks

Fund Manager: Mr. Harish Krishnan* PORTFOLIO

(w.e.f. January 24,
2019) Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AAUM: `339.09 crs Assets Assets

AUM: `332.25 crs Equity & Equity related Future Retail Ltd. Retailing 2.13
Benchmark: Nifty 200 Reliance Industries Ltd. Petroleum Products 11.63 P I Industries Ltd Pesticides 2.05
Allotment date: February 20, 2018 HDFC Bank Ltd. Banks 9.92 Hindustan Oil Exploration
Folio count: 4,605 Coromandel Company Ltd. Oil 1.98
International Ltd. Fertilisers 4.03 Lupin Ltd. Pharmaceuticals 1.95
Investment Objective
To generate capital appreciation from a Mahindra & Mahindra Ltd. Auto 3.89 RBL Bank Ltd Banks 1.88
diversified portfolio of equity & equity Bharat Financial Inclusion SRF Ltd. Textile Products 1.82
related instruments across market......... Limited Finance 3.85 Saregama India Ltd. Media and Entertainment 1.81
capitalisation and sectors.
Amara Raja Batteries Ltd. Auto Ancillaries 3.25 Ashok Leyland Ltd. Auto 1.77
There is no assurance or guarantee that the
investment objective of the scheme will be Sun Pharmaceuticals Sterlite Technologies Ltd Telecom - Equipment &
achieved. Industries Ltd. Pharmaceuticals 3.19 Accessories 1.74
Available Plans/Options Schaeffler India Ltd Industrial Products 2.83 AIA Engineering Limited Industrial Products 1.70
A)Regular Plan B) Direct Plan Laurus Labs Ltd Pharmaceuticals 2.79 Solar Industries
Options: Dividend Payout & Growth Motherson Sumi India Limited Chemicals 1.66
(applicable for all plans) Systems Ltd. Auto Ancillaries 2.75 Edelweiss Financial
Dividend Frequency GE Power India Limited Industrial Capital Goods 2.69 Services Ltd Finance 1.51
Trustee s Discretion
Mahindra Lifespace Vinati Organics Ltd Chemicals 1.34
Ratios Developers Ltd Construction 2.63 Varroc Engineering Ltd. Auto Ancillaries 0.12
Portfolio Turnover 15.01% Bandhan Bank Limited Banks 2.62 Equity & Equity
Sun TV Network Ltd. Media and Entertainment 2.39 Related - Total 97.69
Source: $ICRA MFI Explorer.
Inter Globe Aviation Ltd Transportation 2.32 Term Deposits
Minimum Investment Amount Tata Motors Ltd. Auto 2.32 HDFC Bank Ltd. 1.50
The scheme is a close ended scheme. The
units of the scheme can be traded on the APL Apollo Tubes Limited Ferrous Metals 2.31 Term Deposits - Total 1.50
stock exchange. Bajaj Finance Limited Finance 2.24 Triparty Repo 0.87
Load Structure GAIL (India) Ltd. Gas 2.24 Net Current Assets/
Entry Load: Nil. (applicable for all plans) CRISIL Ltd. Finance 2.18 (Liabilities) -0.06
Exit Load: Nil. (applicable for all plans)
Ratnamani Metals & Grand Total 100.00
Total Expense Ratio** Tubes Ltd. Ferrous Metals 2.16
Regular: 2.69%; Direct: 2.33%
Note: #Term Deposit as provided above is towards margin for derivatives transactions

SECTOR ALLOCATION (%)

4.21
24.20 15.85 14.10 7.92 7.21 6.08 4.47 3.00 2.63
Scheme

1.18 0.70 0.54 0.52

34.28 13.31 6.98 4.50 3.54
3.57
Benchmark

Financial Services Energy Automobile Pharma Industrial Manufacturing

Fertilisers & Pesticides Metals Media & Entertainment Chemicals Construction

Data as on January 31, 2019

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderately high risk

This product is suitable for investors who are seeking*:

Long term capital growth
Investment in equity and equity related securities
without any market capitalisation and sector bias.
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak India Growth Fund Series 5 NAV as on January 31, 2019: `8.91 (Dividend Option), `8.934 (Direct Dividend Option), `8.91 (Growth Option), `8.934 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

14
 Investment style
Value Blend Growth Size
KOTAK INDIA GROWTH FUND SERIES 7 Large
Mid

Multicap Fund - A 36 months close ended equity scheme investing across large cap, Small
midcap and small cap stocks.
Fund Manager: Mr. Devender Singhal* PORTFOLIO
(w.e.f. January 24,
2019) Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AAUM: `31.84 crs Assets Assets
AUM: `32.04 crs Equity & Equity related Mahindra & Mahindra Ltd. Auto 1.80
Benchmark: Nifty 50 HDFC Bank Ltd. Banks 8.76 Colgate Palmolive (India) Ltd. Consumer Non Durables 1.54
Allotment date: August 31, 2018
ICICI Bank Ltd. Banks 8.32 Larsen And Toubro Ltd. Construction Project 1.48
Folio count: 561
Investment Objective Reliance Industries Ltd. Petroleum Products 7.59 City Union Bank Ltd. Banks 1.43
The investment objective of the scheme is Infosys Ltd. Software 7.21 Amara Raja Batteries Ltd. Auto Ancillaries 1.28
to generate capital appreciation from a
diversified portfolio of equity & equity ITC Ltd. Consumer Non Durables 5.38 Supreme Industries Limited Industrial Products 1.14
related instruments across market
Axis Bank Ltd Banks 4.82 Britannia Industries Ltd. Consumer Non Durables 1.13
capitalisation and sectors. It also endeavors
to manage risks through equity derivatives. Tata Consultancy Maruti Suzuki India Limited Auto 1.10
There is no assurance or guarantee that the Services Ltd. Software 3.69 Tata Steel Limited. Ferrous Metals 1.04
investment objective of the scheme will be
achieved. IndusInd Bank Ltd. Banks 2.90 SRF Ltd. Textile Products 0.94
Available Plans/Options Hindustan Unilever Ltd. Consumer Non Durables 2.75 Equity & Equity
A)Regular Plan B) Direct Plan
State Bank Of India Banks 2.57 Related - Total 89.84
Options: Dividend Payout & Growth
(applicable for all plans) Indraprastha Gas Ltd. Gas 2.44 Option
Dividend Frequency HDFC Ltd. Finance 2.22 CNX NIFTY - 11400.000 -
Trustee s Discretion
RBL Bank Ltd Banks 2.19 Put Option - June 2021 5.10
Ratios
Tech Mahindra Ltd. Software 2.16 CNX NIFTY - 11300.000 -
Portfolio Turnover 10.16%
Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.15 Put Option - June 2019 0.05
Minimum Investment Amount Dr Reddys Laboratories Ltd Pharmaceuticals 2.09 CNX NIFTY - 11200.000 -
The scheme is a close ended scheme. The
units of the scheme can be traded on the Shree Cement Ltd. Cement 2.04 Put Option - June 2021 1.45
stock exchange. Kotak Mahindra Bank Ltd. Banks 2.02 Triparty Repo 2.81
Load Structure
Entry Load: Nil. (applicable for all plans) AU Small Finance Bank Ltd. Banks 1.97 Net Current Assets/
Exit Load: Nil. (applicable for all plans) Bajaj Finance Limited Finance 1.86 (Liabilities) 7.35
Total Expense Ratio** Aurobindo Pharma Ltd. Pharmaceuticals 1.83
Regular: 2.73%; Direct: 1.61% Grand Total 100.00

Equity Derivative Exposuer is 6.60%

SECTOR ALLOCATION (%)

4.19 2.04
39.06 13.06 10.81 10.03 6.60 6.07 3.53 1.48
Scheme

6.48 3.75
37.80 14.71 10.87 15.22 2.44 1.51
Benchmark

Financial Services Information Technology Consumer Goods Energy Others Pharma

Automobile Cash & Cash Equivalent Cement & Cement Products Construction

Data as on January 31, 2019

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderately high risk

This product is suitable for investors who are seeking*:

Long term capital growth.
Investment in equity and equity related securities
without any market capitalisation and sector bias.
*Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak India Growth Fund Series 7 NAV as on January 31, 2019: `9.929 (Dividend Option), `9.965 (Direct Dividend Option), `9.929 (Growth Option), `9.965 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

15
 Maturity Investment style
Short Medium Long Volatility Value Blend Growth Size
KOTAK EQUITY ARBITRAGE Low Large
Medium Mid

An open-ended scheme investing in arbitrage opportunities High Small

Fund Manager: Mr. Deepak Gupta* PORTFOLIO

AAUM: `12,844.83 crs Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
AUM: `12,536.92 crs Derivatives
Benchmark: Nifty 50 Arbitrage Equity & Equity related
Allotment date: September 29, 2005 Hedged
Folio count: 26,800 Reliance Industries Ltd. Petroleum Products 5.52 -5.54
Hindustan Unilever Ltd. Consumer Non Durables 3.15 -3.16
Investment Objective Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 3.12 -3.15
The investment objective of the scheme is
to generate capital appreciation and HDFC Ltd. Finance 3.03 -3.04
income by predominantly investing in Asian Paints Ltd. Consumer Non Durables 2.65 -2.66
arbitrage opportunities in the cash and Adani Port and Special Economic Zone Limited Transportation 2.01 -2.02
derivatives segment of the equity market, Infosys Ltd. Software 1.96 -1.97
and by investing the balance in debt and UPL Ltd Pesticides 1.95 -1.96
money market instruments. Grasim Industries Ltd. Cement 1.81 -1.82
Available Plans/Options State Bank Of India Banks 1.69 -1.70
A) Regular Plan B) Direct Plan ICICI Bank Ltd. Banks 1.55 -1.56
Options: Dividend Payout, Dividend Tata Steel Limited. Ferrous Metals 1.55 -1.56
Reinvestment & Growth (applicable for all Britannia Industries Ltd. Consumer Non Durables 1.47 -1.47
plans) JSW Steel Ltd. Ferrous Metals 1.38 -1.38
Dividend Frequency Bajaj Finance Limited Finance 1.35 -1.36
Fortnightly (Every alternate Monday from Mahindra & Mahindra Ltd. Auto 1.19 -1.20
the 1st record date), Monthly (Monday Yes Bank Ltd Banks 1.16 -1.16
preceding the last Thursday of the month),
United Spirits Ltd. Consumer Non Durables 1.08 -1.08
Bimonthly (Monday preceding the last
Thursday of the following months - January, Shriram Transport Finance Co Ltd. Finance 1.06 -1.07
March, May, July, September, November) Mahindra & Mahindra Financial Services Ltd. Finance 0.95 -0.96
Aurobindo Pharma Ltd. Pharmaceuticals 0.94 -0.95
Ratios
ITC Ltd. Consumer Non Durables 0.92 -0.92
Portfolio Turnover 382.26% Indiabulls Housing Finance Ltd. Finance 0.91 -0.90
Ashok Leyland Ltd. Auto 0.90 -0.90
$
Beta 0.40
Havells India Ltd. Consumer Durables 0.86 -0.86
$
Sharpe## -0.89 Bharat Forge Ltd. Industrial Products 0.76 -0.76
Maruti Suzuki India Limited Auto 0.71 -0.71
$
Standard Deviation 0.41% Godrej Consumer Products Ltd. Consumer Non Durables 0.70 -0.70
Dabur India Ltd Consumer Non Durables 0.69 -0.70
Source: $ICRA MFI Explorer. Titan Company Ltd. Consumer Durables 0.65 -0.66
Minimum Investment Amount Bank Of Baroda Banks 0.64 -0.65
Initial Investment: `5000 and in multiple of Vedanta Ltd. Non - Ferrous Metals 0.63 -0.64
`1 for purchase and for `0.01 for switches Dr Reddys Laboratories Ltd Pharmaceuticals 0.60 -0.60
Additional Investment: `1000 & in Hindalco Industries Ltd Non - Ferrous Metals 0.60 -0.61
multiples of `1 Nestle India Ltd. Consumer Non Durables 0.60 -0.60
Ideal Investments Horizon: 3 months &
Tata Power Co. Ltd. Power 0.58 -0.58
above
Bajaj Finserv Ltd. Finance 0.56 -0.57
Load Structure Cipla Ltd. Pharmaceuticals 0.53 -0.53
Entry Load: Nil. (applicable for all plans)
ACC Ltd. Cement 0.50 -0.50
Exit Load:
a) For redemptions/switch outs (including Punjab National Bank Banks 0.50 -0.50
SIP/STP) within 30 days from the date of MindTree Ltd. Software 0.49 -0.49
allotment of units: 0.25% Exide Industries Ltd Auto Ancillaries 0.48 -0.48
b) For redemptions/switch outs (including Piramal Enterprises Ltd. Pharmaceuticals 0.48 -0.42
SIP/STP) after 30 days from the date of Glenmark Pharmaceuticals Ltd Pharmaceuticals 0.44 -0.45
allotment of units: Nil
Pidilite Industries Ltd. Chemicals 0.42 -0.42
Total Expense Ratio** PVR Ltd Media and Entertainment 0.42 -0.43
Regular: 0.96%; Direct: 0.49% Bosch Limited Auto Ancillaries 0.41 -0.41
L&T Finance Holdings Ltd Finance 0.41 -0.42
Marico Ltd. Consumer Non Durables 0.39 -0.39
Data as on January 31, 2019 Siemens Ltd. Industrial Capital Goods 0.39 -0.39
Jubilant Foodworks Limited Consumer Non Durables 0.38 -0.38
Product Label Sun TV Network Ltd. Media and Entertainment 0.38 -0.38
Riskometer Canara Bank Banks 0.37 -0.37
Moderate Mo Federal Bank Ltd. Banks 0.36 -0.36
t el y d
era Higerat Balkrishna Industries Ltd Auto Ancillaries 0.34 -0.34
odLow h e
Adani Power Ltd Power 0.33 -0.33
M

ly

IDFC Limited Finance 0.33 -0.33

Low

High

Tata Motors Ltd - DVR Auto 0.33 -0.33

Zee Entertainment Enterprises Ltd Media and Entertainment 0.33 -0.33
LOW HIGH Shree Cement Ltd. Cement 0.32 -0.32
Investors understand that their principal will be at moderately low risk
Tata Motors Ltd. Auto 0.31 -0.31
This product is suitable for investors who are seeking*:
Income from arbitrage opportunities in the equity market Cholamandalam Investment and Finance Company Ltd Finance 0.30 -0.30
Investment in arbitrage opportunities in the cash & Kajaria Ceramics Ltd. Construction 0.30 -0.30
derivatives segment of the equity market.
* Investors should consult their financial advisors if in doubt LIC Housing Finance Ltd. Finance 0.28 -0.28
about whether the product is suitable for them.
NIIT Technologies Ltd Software 0.28 -0.28
Ultratech Cement Ltd. Cement 0.28 -0.29
Adani Enterprises Ltd Trading 0.27 -0.27
Jindal Steel & Power Ltd. Ferrous Metals 0.27 -0.27
GMR Infrastructure Ltd. Construction Project 0.26 -0.26

*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

7
16
 KOTAK EQUITY ARBITRAGE

An open-ended scheme investing in arbitrage opportunities

PORTFOLIO
Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Derivatives
NCC Limited Construction Project 0.26 -0.26
SRF Ltd. Textile Products 0.25 -0.25
Berger Paints (I) Ltd. Consumer Non Durables 0.24 -0.25
Century Textiles & Industries Ltd. Cement 0.24 -0.24
United Breweries Ltd. Consumer Non Durables 0.24 -0.25
Divi s Laboratories Limited Pharmaceuticals 0.23 -0.23
Hero MotoCorp Ltd. Auto 0.23 -0.22
Apollo Tyres Ltd. Auto Ancillaries 0.22 -0.22
Page Industries Ltd Textile Products 0.20 -0.20
Tata Elxsi Ltd. Software 0.19 -0.19
Bank of India Banks 0.18 -0.18
Biocon Ltd. Pharmaceuticals 0.18 -0.18
Indraprastha Gas Ltd. Gas 0.18 -0.18
Reliance Infrastructure Ltd Power 0.18 -0.18
Tata Global Beverages Limited Consumer Non Durables 0.18 -0.18
Castrol (India ) Ltd. Petroleum Products 0.16 -0.16
Equitas Holdings Ltd Finance 0.16 -0.16
Can Fin Homes Ltd. Finance 0.15 -0.15
DLF Limited Construction 0.15 -0.15
Godrej Industries Ltd Consumer Non Durables 0.15 -0.16
Motherson Sumi Systems Ltd. Auto Ancillaries 0.15 -0.15
Raymond Limited Textile Products 0.15 -0.15
The South Indian Bank Ltd. Banks 0.15 -0.15
CESC Ltd. Power 0.14 -0.14
Karnataka Bank Ltd Banks 0.14 -0.15
Bharat Heavy Electricals Ltd. Industrial Capital Goods 0.13 -0.13
Gujarat State Fertilizers & Chemicals Ltd. Fertilisers 0.13 -0.13
India Cements Ltd. Cement 0.13 -0.13
Jain Irrigation Systems Ltd. Industrial Products 0.13 -0.13
Steel Authority of India Ltd. Ferrous Metals 0.13 -0.13
TV18 Broadcast Ltd Media and Entertainment 0.13 -0.13
MRF Limited Auto Ancillaries 0.11 -0.11
Bharat Electronics Ltd Industrial Capital Goods 0.10 -0.10
Mahanagar Gas Ltd Gas 0.10 -0.10
Strides Pharma Science Ltd Pharmaceuticals 0.10 -0.10
Suzlon Energy Ltd. Industrial Capital Goods 0.10 -0.10
Hindustan Petroleum Corporation Ltd Petroleum Products 0.09 -0.09
Just Dial Limited Software 0.09 -0.09
Manappuram Finance Ltd Finance 0.09 -0.09
Petronet LNG Ltd. Gas 0.09 -0.09
Wockhardt Ltd. Pharmaceuticals 0.09 -0.09
Cadila Healthcare Ltd. Pharmaceuticals 0.08 -0.08
CG Power and Industrial Solutions Limited Industrial Capital Goods 0.08 -0.08
Oracle Financial Services Software Ltd Software 0.08 -0.08
Oriental Bank of Commerce Banks 0.08 -0.08
Reliance Power Ltd Power 0.08 -0.08
GAIL (India) Ltd. Gas 0.07 -0.07
Godfrey Phillips India Ltd. Consumer Non Durables 0.07 -0.07
Jaiprakash Associates Ltd Cement 0.07 -0.07
NBCC (India) Ltd Construction 0.07 -0.07
Tata Consultancy Services Ltd. Software 0.07 -0.07
Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.06 -0.06
HDFC Bank Ltd. Banks 0.06 -0.06
IFCI Ltd. Finance 0.06 -0.06
Union Bank Of India Banks 0.06 -0.06
Bharti Infratel Ltd. Telecom - Equipment & Accessories 0.05 -0.05
Dish TV India Ltd. Media and Entertainment 0.05 -0.05
Escorts Ltd. Auto 0.05 -0.05
Max Financial Services Ltd. Finance 0.05 -0.05
Syndicate Bank Banks 0.05 -0.05
Tech Mahindra Ltd. Software 0.05 -0.05
Axis Bank Ltd Banks 0.04 -0.04
Bharat Financial Inclusion Limited Finance 0.04 -0.04
Cummins India Ltd. Industrial Products 0.04 -0.04
Eicher Motors Ltd Auto 0.04 -0.04
Lupin Ltd. Pharmaceuticals 0.04 -0.04
Wipro Ltd. Software 0.04 -0.04
BEML Ltd Industrial Capital Goods 0.03 -0.03
Hexaware Technologies Ltd. Software 0.03 -0.03
Torrent Power Ltd Power 0.03 -0.03
Bajaj Auto Ltd. Auto 0.02 -0.02

7
17
KOTAK EQUITY ARBITRAGE

An open-ended scheme investing in arbitrage opportunities

PORTFOLIO
Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Derivatives
Bharti Airtel Ltd. Telecom - Services 0.02 -0.02
Development Credit Bank Ltd. Banks 0.02 -0.02
Hindustan Zinc Ltd. Non - Ferrous Metals 0.02 -0.02
Inter Globe Aviation Ltd Transportation 0.02 -0.02
Mangalore Refinery And Petrochemicals Ltd. Petroleum Products 0.02 -0.02
Tata Communications Ltd Telecom - Services 0.02 -0.02
The Ramco Cements Ltd Cement 0.02 -0.02
Vodafone Idea Ltd Telecom - Services 0.02 -0.02
Ambuja Cements Ltd Cement 0.01 -0.01
HCL Technologies Ltd. Software 0.01 -0.01
ICICI Prudential Life Insurance Company Ltd Finance 0.01 -0.01
IDBI Bank Ltd. Banks 0.01 -0.01
KPIT Technologies LImited Software 0.01 -0.01
National Thermal Power Corporation Limited Power 0.01 -0.01
Reliance Capital Ltd. Finance 0.01 -0.01
SREI Infrastructure Finance Ltd Finance 0.01 -0.01
Tata Chemicals Ltd. Chemicals 0.01 -0.01
Hedged - Total 72.09 -72.35
Equity & Equity Related - Total 72.09 -72.35
Mutual Fund Units
Kotak Corporate Bond Fund Direct Growth 0.45
Mutual Fund Units - Total 0.45
Debt Instruments
Debentures and Bonds
Corporate Debt/Financial Institutions
Gruh Finance Ltd. CRISIL AAA 0.80
Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 0.40
Kotak Mahindra Prime Ltd. CRISIL AAA 0.12
Corporate Debt/Financial Institutions - Total 1.32
Public Sector Undertakings
ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 0.90
Public Sector Undertakings - Total 0.90
Money Market Instruments
Commercial Paper(CP)/Certificate of Deposits(CD)
Corporate Debt/Financial Institutions
LIC Housing Finance Ltd. CRISIL A1+ 1.55
HDFC Ltd. CRISIL A1+ 0.89
Shriram City Union Finance Ltd. ICRA A1+ 0.40
HDB Financial Services Ltd. CRISIL A1+ 0.20
Corporate Debt/Financial Institutions - Total 3.04
Term Deposits
HDFC Bank Ltd. 15.90
IDFC Bank Limited 1.39
Federal Bank Ltd. 0.60
AU Small Finance Bank Ltd. 0.40
IDFC Bank Limited ( ) 0.24
Equitas Small Finance Bank Ltd. 0.40
IndusInd Bank Ltd. 0.20
RBL Bank Ltd. 0.20
AXIS Bank Ltd. 0.09
Term Deposits - Total 19.42
Triparty Repo 0.28
Net Current Assets/(Liabilities) 2.50
Grand Total 100.00

Note:Term Deposit as provided above is towards margin for derivatives transactions

Equity Derivative Exposuer is 72.35%

SECTOR ALLOCATION (%)

3.38 3.30
19.70 12.97 9.76 7.06 6.35 5.79 3.78 3.33 24.58

TREP & Term Deposits & Rev.Repo Consumer Non Durables Finance Banks Pharmaceuticals
Petroleum Products Auto Cement Ferrous Metals Software REST

Kotak Equity Arbitrage NAV as on January 31, 2019: `10.6934 (Monthly Dividend Option), `10.9919 (Direct monthly Dividend Option), `26.1552 (Growth Option),
`26.9488 (Direct Growth Option), `19.9624 (Bimonthly Option), `20.1529 (Direct Bimonthly Option), `23.0544 (Fortnightly Dividend), `23.5261 (Direct Fortnightly
Dividend)

18
 Maturity Investment style
Short Medium Long Volatility Value Blend Growth Size
KOTAK BALANCED Low Large

ADVANTAGE FUND Med Mid

An open ended dynamic asset allocation fund High Small

Fund Manager: Mr. Deepak Gupta, PORTFOLIO

Mr. Harish Krishnan & Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Mr. Abhishek Bisen* Derivatives
AAUM: `2,437.70 crs Equity & Equity related
AUM: `2,485.02 crs Non-Hedged
Benchmark: NIFTY 50 Hybrid CNX NIFTY-FEB2019 -0.28
Composite Debt Reliance Industries Ltd. Petroleum Products 3.84
HDFC Bank Ltd. Banks 3.46
50:50 Index
ICICI Bank Ltd. Banks 2.64
Allotment date: August 3, 2018
Infosys Ltd. Software 2.41
Folio count: 66,300 ITC Ltd. Consumer Non Durables 1.72
HDFC Ltd. Finance 1.67
Investment Objective Axis Bank Ltd Banks 1.59
The investment objective of the scheme is State Bank Of India Banks 1.36
to generate capital appreciation by Larsen And Toubro Ltd. Construction Project 1.35
investing in a dynamically balanced Tech Mahindra Ltd. Software 1.28
portfolio of equity & equity related Tata Consultancy Services Ltd. Software 1.19
securities and debt & money market
Mahindra & Mahindra Ltd. Auto 1.04
securities.
Bharat Financial Inclusion Limited Finance 1.00
Available Plans/Options Dabur India Ltd Consumer Non Durables 0.93
A) Regular Plan B) Direct Plan Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.89
Options: Dividend Payout, Dividend Indraprastha Gas Ltd. Gas 0.79
Reinvestment & Growth (applicable for all Asian Paints Ltd. Consumer Non Durables 0.72
plans) Motherson Sumi Systems Ltd. Auto Ancillaries 0.72
Dividend Frequency ICICI Lombard General Insurance Company Ltd Finance 0.68
Trustee's Discretion Shree Cement Ltd. Cement 0.68
Hindustan Zinc Ltd. Non - Ferrous Metals 0.67
Ratios Lupin Ltd. Pharmaceuticals 0.67
Portfolio Turnover 62.43% GAIL (India) Ltd. Gas 0.64
Ultratech Cement Ltd. Cement 0.63
Minimum Investment Amount Coromandel International Ltd. Fertilisers 0.62
Initial Investment: `1000 and in multiple of Bandhan Bank Limited Banks 0.58
`1 for purchase and of `0.01 for switches HDFC Standard Life Insurance Company Ltd Finance 0.58
Additional Investment: `1000 & in APL Apollo Tubes Limited Ferrous Metals 0.57
multiples of `1 The Ramco Cements Ltd Cement 0.57
Load Structure RBL Bank Ltd Banks 0.54
Entry Load: Nil. (applicable for all plans) Gujarat Gas Ltd Gas 0.51
Exit Load: Ashok Leyland Ltd. Auto 0.50
a) For redemption/switch out of upto 10% Sterlite Technologies Ltd Telecom - Equipment & Accessories 0.50
of the initial investment amount (limit) Bharat Electronics Ltd Industrial Capital Goods 0.49
purchased or switched in within 1 year from
Bajaj Finance Limited Finance 0.47
the date of allotment: Nil.
b) If units redeemed or switched out are in Pfizer Ltd. Pharmaceuticals 0.45
excess of the limit within 1 year from the Mahindra Lifespace Developers Ltd Construction 0.43
date of allotment: 1%. Sun TV Network Ltd. Media and Entertainment 0.42
c) If units are redeemed or switched out on Eicher Motors Ltd Auto 0.41
or alter 1 year from the date of allotment: Wipro Ltd. Software 0.40
Nil. Inter Globe Aviation Ltd Transportation 0.35
Total Expense Ratio** Container Corporation of India Ltd. Transportation 0.33
Regular: 2.39%; Direct: 1.24% Maruti Suzuki India Limited Auto 0.32
Ratnamani Metals & Tubes Ltd. Ferrous Metals 0.29
Edelweiss Financial Services Ltd Finance 0.21
Supreme Industries Limited Industrial Products 0.19
GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.18
Bank Of Baroda - 115.000 - Call Option - February 2019 0.02
Data as on January 31, 2019 Non-Hedged- Total 42.50 -0.28
Hedged
Product Label
Riskometer Punjab National Bank Banks 2.01 -2.01
Reliance Industries Ltd. Petroleum Products 1.55 -1.55
Moderate Mo
t el y d Yes Bank Ltd Banks 1.49 -1.49
era Higerat
odLow h e NCC Limited Construction Project 0.72 -0.72
M

ly

Adani Enterprises Ltd Trading 0.69 -0.70

Infosys Ltd. Software 0.68 -0.68
Low

High

Indiabulls Housing Finance Ltd. Finance 0.66 -0.65

LOW HIGH Tata Motors Ltd - DVR Auto 0.63 -0.63
Investors understand that their principal will be at moderately high risk The South Indian Bank Ltd. Banks 0.61 -0.61
This product is suitable for investors who are seeking*: Strides Pharma Science Ltd Pharmaceuticals 0.59 -0.60
Wealth creation over a long period of time. Bank Of Baroda Banks 0.58 -0.58
Investment in equity, equity related securities &
debt, money market instruments while managing risk Bajaj Finance Limited Finance 0.55 -0.55
through active allocation.
Investors should consult their financial advisors if in Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.49 -0.49
doubt about whether the product is suitable for them.
* Investors should consult their financial advisors if in Mahindra & Mahindra Ltd. Auto 0.48 -0.48
doubt about whether the product is suitable for them. Raymond Limited Textile Products 0.43 -0.43
Mahindra & Mahindra Financial Services Ltd. Finance 0.36 -0.36
Aurobindo Pharma Ltd. Pharmaceuticals 0.35 -0.35
Cipla Ltd. Pharmaceuticals 0.35 -0.35
Grasim Industries Ltd. Cement 0.34 -0.34
Havells India Ltd. Consumer Durables 0.34 -0.34

*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

7
19
KOTAK BALANCED ADVANTAGE FUND

An open ended dynamic asset allocation fund

PORTFOLIO
Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Derivatives
Dabur India Ltd Consumer Non Durables 0.33 -0.33
HDFC Ltd. Finance 0.33 -0.33
Mahanagar Gas Ltd Gas 0.33 -0.33
Reliance Infrastructure Ltd Power 0.32 -0.32
State Bank Of India Banks 0.32 -0.32
Hindustan Unilever Ltd. Consumer Non Durables 0.31 -0.31
Zee Entertainment Enterprises Ltd Media and Entertainment 0.31 -0.31
Sun TV Network Ltd. Media and Entertainment 0.29 -0.29
Cadila Healthcare Ltd. Pharmaceuticals 0.28 -0.28
GMR Infrastructure Ltd. Construction Project 0.28 -0.28
Kajaria Ceramics Ltd. Construction 0.27 -0.27
Jindal Steel & Power Ltd. Ferrous Metals 0.26 -0.26
Canara Bank Banks 0.25 -0.25
Bharat Forge Ltd. Industrial Products 0.24 -0.24
Nestle India Ltd. Consumer Non Durables 0.24 -0.24
Tata Steel Limited. Ferrous Metals 0.23 -0.23
Britannia Industries Ltd. Consumer Non Durables 0.22 -0.22
Bajaj Finserv Ltd. Finance 0.21 -0.21
Century Textiles & Industries Ltd. Cement 0.18 -0.18
Manappuram Finance Ltd Finance 0.18 -0.18
ICICI Bank Ltd. Banks 0.17 -0.17
Wockhardt Ltd. Pharmaceuticals 0.17 -0.17
Bank of India Banks 0.14 -0.14
Shriram Transport Finance Co Ltd. Finance 0.14 -0.14
Siemens Ltd. Industrial Capital Goods 0.14 -0.14
Ashok Leyland Ltd. Auto 0.13 -0.13
CESC Ltd. Power 0.13 -0.13
UPL Ltd Pesticides 0.13 -0.13
Jain Irrigation Systems Ltd. Industrial Products 0.12 -0.12
MRF Limited Auto Ancillaries 0.12 -0.12
Adani Port and Special Economic Zone Limited Transportation 0.11 -0.11
Karnataka Bank Ltd Banks 0.11 -0.11
Dr Reddys Laboratories Ltd Pharmaceuticals 0.10 -0.10
Escorts Ltd. Auto 0.10 -0.10
Exide Industries Ltd Auto Ancillaries 0.10 -0.10
Glenmark Pharmaceuticals Ltd Pharmaceuticals 0.10 -0.10
ITC Ltd. Consumer Non Durables 0.10 -0.10
Repco Home Finance Limited. Finance 0.10 -0.11
Union Bank Of India Banks 0.10 -0.10
Adani Power Ltd Power 0.09 -0.09
Apollo Tyres Ltd. Auto Ancillaries 0.09 -0.09
Tata Elxsi Ltd. Software 0.09 -0.09
Asian Paints Ltd. Consumer Non Durables 0.08 -0.08
Godrej Industries Ltd Consumer Non Durables 0.08 -0.08
IRB Infrastructure Developers Ltd Construction 0.08 -0.08
Jubilant Foodworks Limited Consumer Non Durables 0.08 -0.08
Marico Ltd. Consumer Non Durables 0.08 -0.08
Maruti Suzuki India Limited Auto 0.08 -0.08
DLF Limited Construction 0.07 -0.07
Indraprastha Gas Ltd. Gas 0.07 -0.07
Balkrishna Industries Ltd Auto Ancillaries 0.06 -0.06
Bharat Financial Inclusion Limited Finance 0.06 -0.06
Can Fin Homes Ltd. Finance 0.06 -0.06
NIIT Technologies Ltd Software 0.06 -0.06
Tata Consultancy Services Ltd. Software 0.06 -0.06
Equitas Holdings Ltd Finance 0.05 -0.05
Mangalore Refinery And Petrochemicals Ltd. Petroleum Products 0.05 -0.05
Suzlon Energy Ltd. Industrial Capital Goods 0.05 -0.05
Titan Company Ltd. Consumer Durables 0.05 -0.05
Bosch Limited Auto Ancillaries 0.04 -0.04
Cholamandalam Investment and Finance Company Ltd Finance 0.04 -0.04
Godrej Consumer Products Ltd. Consumer Non Durables 0.04 -0.04
Hindalco Industries Ltd Non - Ferrous Metals 0.04 -0.04
JSW Steel Ltd. Ferrous Metals 0.04 -0.04
Lupin Ltd. Pharmaceuticals 0.04 -0.04
Page Industries Ltd Textile Products 0.04 -0.04
Shree Cement Ltd. Cement 0.04 -0.04
Tech Mahindra Ltd. Software 0.04 -0.04
Bharat Heavy Electricals Ltd. Industrial Capital Goods 0.03 -0.03
Eicher Motors Ltd Auto 0.03 -0.03
Federal Bank Ltd. Banks 0.03 -0.03
IFCI Ltd. Finance 0.03 -0.03

20
KOTAK BALANCED ADVANTAGE FUND

An open ended dynamic asset allocation fund

PORTFOLIO
Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Derivatives
PVR Ltd Media and Entertainment 0.03 -0.03
Tata Power Co. Ltd. Power 0.03 -0.03
Godfrey Phillips India Ltd. Consumer Non Durables 0.02 -0.02
IDBI Bank Ltd. Banks 0.02 -0.02
India Cements Ltd. Cement 0.02 -0.02
LIC Housing Finance Ltd. Finance 0.02 -0.02
MindTree Ltd. Software 0.02 -0.02
Tata Motors Ltd. Auto 0.02 -0.02
United Spirits Ltd. Consumer Non Durables 0.02 -0.02
Bajaj Auto Ltd. Auto 0.01 -0.01
BEML Ltd Industrial Capital Goods 0.01 -0.01
Cummins India Ltd. Industrial Products 0.01 -0.01
GAIL (India) Ltd. Gas 0.01 -0.01
Hero MotoCorp Ltd. Auto 0.01 -0.01
IDFC Limited Finance 0.01 -0.01
SRF Ltd. Textile Products 0.01 -0.01
Tata Chemicals Ltd. Chemicals 0.01 -0.01
The Ramco Cements Ltd Cement 0.01 -0.01
Hedged - Total 23.75 -23.77
Equity & Equity Related - Total 66.25 -24.05
Mutual Fund Units
Reliance Mutual Fund CPSE ETF Mutual Fund 0.33
Mutual Fund Units - Total 0.33
Debt Instruments
Debentures and Bonds
Corporate Debt/Financial Institutions
Reliance Jio Infocomm Ltd. CRISIL AAA 3.89
Shriram Transport Finance Co Ltd. CRISIL AA+ 2.18
Reliable Devices Trust ( ) ICRA AAA 1.64
HDFC Ltd. CRISIL AAA 1.24
Kotak Mahindra Prime Ltd. CRISIL AAA 0.40
Corporate Debt/Financial Institutions - Total 9.35
Public Sector Undertakings
State Bank Of India. CRISIL AA+ 2.82
Rural Electrification Corporation Ltd. CRISIL AAA 2.37
National Bank for Agriculture & Rural Development CRISIL AAA 2.30
National Highways Authority Of India CRISIL AAA 1.01
Power Finance Corporation Ltd. CRISIL AAA 0.98
Power Grid Corporation of India Ltd. CRISIL AAA 0.22
Public Sector Undertakings - Total 9.70
Money Market Instruments
Commercial Paper(CP)/Certificate of Deposits(CD)
Corporate Debt/Financial Institutions
Indiabulls Housing Finance Ltd. CRISIL A1+ 1.00
IDFC Bank Limited CRISIL A1+ 0.59
Corporate Debt/Financial Institutions - Total 1.59
Term Deposits
HDFC Bank Ltd. 4.62
RBL Bank Ltd. 2.94
AU Small Finance Bank Ltd. 0.40
Term Deposits - Total 7.96
Reverse Repo 2.81
Triparty Repo 0.31
Net Current Assets/(Liabilities) 1.70
Grand Total 100.00

Term Deposit as provided above is towards margin for derivatives transactions

Equity Derivative Exposuer is 24.05%

SECTOR ALLOCATION (%)

3.78
19.05 15.98 11.08 7.42 6.21 5.44 5.15 4.49 2.47 18.93

Debentures and Bonds Banks TREP & Term Deposits & Rev.Repo Finance Software
Petroleum Products Consumer Non Durables Pharmaceuticals Auto Cement REST

(^) Fully or Party blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 4.63% of the net assets.
kotak Balanced Advantage Fund NAV as on January 31, 2019: `10.006 (Dividend Option), `10.066 (Direct Dividend Option), `10.006 (Growth Option) `10.066
(Direct Growth Option)

21
 Investment style
Value Blend Growth Size
KOTAK EQUITY HYBRID Large
(Erstwhile Kotak Balance) Mid

An open-ended hybrid scheme investing predominantly in equity and equity related instruments Small

Fund Manager: Mr. Pankaj Tibrewal & PORTFOLIO

Mr. Abhishek Bisen*
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AAUM: `1,629.00 crs
Assets Assets
AUM: `1,600.79 crs
Equity & Equity related Persistent Systems Limited Software 0.62
Benchmark: NIFTY 50 Hybrid HDFC Bank Ltd. Banks 5.77 Tata Motors Ltd. Auto 0.61
Composite Debt ICICI Bank Ltd. Banks 4.98 Bajaj Auto Ltd. Auto 0.53
Infosys Ltd. Software 3.60 Edelweiss Financial
70:30 Index $ Axis Bank Ltd Banks 3.12 Services Ltd Finance 0.51
HDFC Ltd. Finance 3.07 Jindal Steel & Power Ltd. Ferrous Metals 0.49
Allotment date: November 25, 1999 Reliance Industries Ltd. Petroleum Products 2.71 Eicher Motors Ltd Auto 0.47
Folio count: 45,602 State Bank Of India Banks 2.69 MRF Limited Auto Ancillaries 0.46
ITC Ltd. Consumer Non Durables 2.43 Kirloskar Oil Engines Ltd. Industrial Products 0.37
Larsen And Toubro Ltd. Construction Project 2.34 Future Supply Chain
Tata Consultancy Solutions Ltd Transportation 0.30
Investment Objective Services Ltd. Software 2.05 Equity & Equity
Investment objective of the scheme is to Thermax Ltd. Industrial Capital Goods 1.96 Related - Total 78.44
Shree Cement Ltd. Cement 1.86 Debt Instruments
achieve growth by investing in equity and Bharat Financial Debentures and Bonds
equity related instruments, balanced with Inclusion Limited Finance 1.80 Corporate Debt/
JK Cement Ltd. Cement 1.56 Financial Institutions
income generation by investing in debt and Schaeffler India Ltd Industrial Products 1.47 Reliable Devices Trust ( ) ICRA AAA 1.36
money market instruments. However, there RBL Bank Ltd Banks 1.44 Mahindra & Mahindra
is no assurance that the objective of the The Ramco Cements Ltd Cement 1.44 Financial Services Ltd. FITCH IND AAA 1.25
Mahindra & Mahindra Ltd. Auto 1.42 ECL Finance Ltd. CRISIL AA 0.94
scheme will be realized. Sun Pharmaceuticals Indian Hospitals
Industries Ltd. Pharmaceuticals 1.39 Corporation Ltd ( Against
Available Plans/Options Dr Reddys Laboratories Ltd Pharmaceuticals 1.35 Pledge of Apollo
A) Regular Plan B) Direct Plan AU Small Finance Bank Ltd. Banks 1.33 Hospital Shares) BRICKWORK BWR AA-(SO) 0.94
Bandhan Bank Limited Banks 1.30 Shriram Transport
Options: Dividend Payout, Dividend Bajaj Finserv Ltd. Finance 1.26 Finance Co Ltd. CRISIL AA+ 0.62
Reinvestment & Growth (applicable for all Solar Industries India Limited Chemicals 1.24 LIC Housing Finance Ltd. CRISIL AAA 0.03
plans) V.S.T Tillers Tractors Ltd Auto 1.16 Corporate Debt/
P I Industries Ltd Pesticides 1.14 Financial
Dividend Frequency Techno Electric & Institutions - Total 5.14
Engineering Public Sector
Half Yearly (25th of Mar/Sep) Company Limited Construction Project 1.14 Undertakings
GAIL (India) Ltd. Gas 1.09 United Bank Of India CRISIL AA- 4.59
Ratios Emami Ltd. Consumer Non Durables 1.08 U P Power Corporation Ltd
ICICI Lombard General (Guaranteed By UP
Portfolio Turnover 40.42% Insurance Company Ltd Finance 1.02 State Government) CRISIL A+(SO) 2.46
Vedanta Ltd. Non - Ferrous Metals 1.01 Punjab & Sind Bank ICRA A+ 2.12
$
Beta 0.10 Atul Ltd. Chemicals 0.99 U P Power Corporation Ltd
Oil & Natural Gas (Guaranteed By UP
$ Corporation Ltd. Oil 0.98 State Government) CRISIL A+ 0.01
Sharpe## 0.28 Gujarat Gas Ltd Gas 0.91 Public Sector
Maruti Suzuki India Limited Auto 0.91 Undertakings - Total 9.18
$
Standard Deviation 11.62% Lupin Ltd. Pharmaceuticals 0.88 Government
Bharat Petroleum Dated Securities
$
Source: ICRA MFI Explorer. Corporation Ltd. Petroleum Products 0.87 7.17% Central Government SOV 1.84
Kajaria Ceramics Ltd. Construction 0.86 7.32% Central Government SOV 0.94
Minimum Investment Amount Galaxy Surfactants Ltd Chemicals 0.85 7.95% Central Government SOV 0.32
Initial Investment: `5000 and in multiple of Motherson Sumi 8.27% State Government SOV 0.06
Systems Ltd. Auto Ancillaries 0.84 8.29% State Government SOV 0.05
`1 for purchase and for `0.01 for switches Dixon Technologies 8.43% State Government SOV 0.02
Additional Investment: `1000 & in India Ltd Consumer Durables 0.75 Government Dated
multiples of `1 APL Apollo Tubes Limited Ferrous Metals 0.73 Securities - Total 3.23
Finolex Cables Ltd. Industrial Products 0.68 Term Deposits
Ideal Investments Horizon: 3 years & above JMC Projects (India) Ltd Construction 0.67
Mahindra Lifespace HDFC Bank Ltd. 0.28
Load Structure Developers Ltd Construction 0.67 Term Deposits - Total 0.28
Entry Load: Nil. (applicable for all plans) HDFC Standard Life Triparty Repo 2.92
Insurance Company Ltd Finance 0.64 Net Current Assets/
Exit Load: (Liabilities) 0.81
a) For redemption/switch out of upto 10% Future Retail Ltd. Retailing 0.63
Grand Total 100.00
of the initial investment amount (limit)
purchased or switched in within 1 year from Note: Term Deposit as provided above is towards margin for derivatives transactions
the date of allotment: Nil.
b) If units redeemed or switched out are in
excess of the limit within 1 year from the
SECTOR ALLOCATION (%)
date of allotment: 1%.
c) If units are redeemed or switched out on 3.62 3.51
or alter 1 year from the date of allotment: 20.63 14.32 8.30 6.27 5.10 4.86 3.58 3.48 26.33
Nil.
Total Expense Ratio**
Regular: 2.09%; Direct: 0.92% Banks Debentures and Bonds Finance Software Auto Cement
Data as on January 31, 2019 Pharmaceuticals Petroleum Products Consumer Non Durables Construction Project REST

Product Label
Riskometer SYSTEMATIC INVESTMENT PLAN (SIP)
Moderate Mo Systematic Investment Plan (SIP) If you had invested `10,000 every month
t el y d
era Higerat
odLow h e Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
M

ly

Total amount invested (`) 23,10,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
Low

High

Total Value as on Jan 31, 2019 (`) 97,47,867 19,36,343 11,33,902 6,98,319 3,76,425 1,15,094
LOW HIGH Scheme Returns (%) 13.32 9.25 8.43 6.00 2.92 -7.47
Investors understand that their principal will be at moderately high risk
NIFTY 50 Hybrid Composite Debt 70:30 Index (`)# $ NA 20,72,646 12,26,576 7,61,428 4,15,620 1,22,502
This product is suitable for investors who are seeking*:
Long term capital growth NIFTY 50 Hybrid Composite Debt 70:30 Index Returns (%) $ NA 10.53 10.63 9.46 9.55 3.88
Investment in equity & equity related securities
balanced with income generation by investing in debt Nifty 50 (TRI) (`)^ 1,07,95,570 21,71,162 12,70,782 7,74,302 4,23,385 1,21,016
& money.
* Investors should consult their financial advisors if in Nifty 50 (TRI) Returns (%)
doubt about whether the product is suitable for them. 14.19 11.40 11.62 10.13 10.81 1.57

Scheme Inception : - November 25,1999. 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 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
Kotak Equity Hybrid (Erstwhile Kotak Balance) NAV as on January 31, 2019: `14.371 (Dividend Option), `15.934 (Direct Dividend Option), `23.044 (Growth Option) `24.825 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59. $ The existing benchmark "CRISIL Balanced Fund" has been renamed as "CRISIL Hybrid 35+65 - Aggressive Index" as per
communication received from CRISIL
7
22
 Maturity Investment style
Short Medium Long Volatility Value Blend Growth Size
KOTAK EQUITY SAVINGS FUND Low Large
Medium Mid

An open-ended scheme investing in equity, arbitrage and debt High Small

Fund Manager: Mr. Deepak Gupta & PORTFOLIO

Mr. Abhishek Bisen*
Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
AAUM: `2,275.64 crs Derivatives
AUM: `2,262.98 crs
Equity & Equity related
Benchmark: 75% of Nifty 50 Non-Hedged
Arbitrage index and CNX NIFTY-FEB2019 -2.97
25% in Nifty 50 Reliance Industries Ltd. Petroleum Products 2.20
Allotment date: October 13, 2014 HDFC Bank Ltd. Banks 1.89
Folio count: 19,009 Tata Consultancy Services Ltd. Software 1.84
Hindustan Unilever Ltd. Consumer Non Durables 1.53
Investment Objective Bajaj Finance Limited Finance 1.40
The investment objective of the scheme is Infosys Ltd. Software 1.40
to generate capital appreciation and HDFC Ltd. Finance 1.33
income by predominantly investing in Bharat Financial Inclusion Limited Finance 1.18
arbitrage opportunities in the cash and ICICI Bank Ltd. Banks 1.00
derivatives segment of the equity market, Titan Company Ltd. Consumer Durables 0.88
and enhance returns with a moderate State Bank Of India Banks 0.78
exposure in equity & equity related Reliance Mutual Fund CPSE ETF Mutual Fund 0.78
instruments. There is no assurance or ITC Ltd. Consumer Non Durables 0.75
guarantee that the investment objective of Maruti Suzuki India Limited Auto 0.74
the scheme will be achieved. Tech Mahindra Ltd. Software 0.73
Available Plans/Options Mahindra & Mahindra Ltd. Auto 0.71
A) Regular Plan B) Direct Plan Asian Paints Ltd. Consumer Non Durables 0.68
ACC Ltd. Cement 0.62
Options: Dividend Payout, Dividend........
Odisha Cement Ltd Cement 0.62
Reinvestment & Growth (applicable for all
plans) Tata Steel Limited. Ferrous Metals 0.61
Axis Bank Ltd Banks 0.59
Dividend Frequency Biocon Ltd. Pharmaceuticals 0.54
Monthly (12th of every month) Quarterly Bharti Airtel Ltd. Telecom - Services 0.53
(20th of March, June, September and Britannia Industries Ltd. Consumer Non Durables 0.51
December of every year) Larsen And Toubro Ltd. Construction Project 0.46
Ratios Motherson Sumi Systems Ltd. Auto Ancillaries 0.44
Dr Reddys Laboratories Ltd Pharmaceuticals 0.40
Portfolio Turnover 133.38%
Varun Beverages Ltd Consumer Non Durables 0.37
$
Beta 1.02 GAIL (India) Ltd. Gas 0.31
Indraprastha Gas Ltd. Gas 0.28
$
Sharpe## 0.45 Petronet LNG Ltd. Gas 0.28
Voltas Ltd. Construction Project 0.28
$
Standard Deviation 3.75% Ircon International Ltd Construction Project 0.26
Source: $ICRA MFI Explorer. Jindal Steel & Power Ltd. Ferrous Metals 0.26
JSW Steel Ltd. Ferrous Metals 0.26
Minimum Investment Amount Zee Entertainment Enterprises Ltd Media and Entertainment 0.26
Initial Investment: `5000 and in multiple of Exide Industries Ltd Auto Ancillaries 0.24
`1 for purchase and for `0.01 for switches Shriram Transport Finance Co Ltd. Finance 0.23
Additional Investment: `1000 & in....... Edelweiss Financial Services Ltd Finance 0.22
multiples of `1 for purchase and for `0.01 Page Industries Ltd Textile Products 0.21
for switches Jubilant Foodworks Limited Consumer Non Durables 0.20
Ideal Investments Horizon: 3 years & above
Eris Lifesciences Ltd Pharmaceuticals 0.19
Load Structure Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.18
Entry Load: Nil. Chennai Super Kings Cricket Ltd. Media and Entertainment 0.17
Exit Load: Godfrey Phillips India Ltd. Consumer Non Durables 0.13
a) For redemption / switch out of upto 10% Laurus Labs Ltd Pharmaceuticals 0.12
of the initial investment amount (limit) United Spirits Ltd. Consumer Non Durables 0.12
purchased or switched in within 1 year from Bajaj Finserv Ltd. Finance 0.11
the date of allotment: Nil. Lupin Ltd. Pharmaceuticals 0.11
b) If units redeemed or switched out are in
The Ramco Cements Ltd Cement 0.11
excess of the limit within 1 year from the
HCL Technologies Ltd. Software 0.10
date of allotment: 1%.
c) If units are redeemed or switched out on AU Small Finance Bank Ltd. Banks 0.08
or after 1 year from the date of allotment: Prataap Snacks Ltd Consumer Non Durables 0.08
Nil. Sun TV Network Ltd. Media and Entertainment 0.08
Strides Pharma Science Ltd Pharmaceuticals 0.07
Total Expense Ratio** BEML Ltd Industrial Capital Goods 0.05
Regular: 2.13%; Direct: 1.45% Godrej Agrovet Ltd Consumer Non Durables 0.05
Data as on January 31, 2019 Apollo Micro Systems Ltd Industrial Capital Goods 0.03
Hindustan Construction Co.Ltd Construction Project 0.03
Product Label IndusInd Bank Ltd. Banks 0.02
Riskometer Solara Active Pharma Sciences Ltd. Pharmaceuticals 0.01
Moderate Mo Non-Hedged- Total 30.64 -2.97
t el y d
era Higerat Hedged
odLow h e
HDFC Ltd. Finance 2.29 -2.29
M

ly

Punjab National Bank Banks 1.69 -1.70

Low

High

IDFC First Bank Limited Banks 1.66 -1.66

Piramal Enterprises Ltd. Pharmaceuticals 1.60 -1.38
LOW HIGH Adani Power Ltd Power 1.56 -1.57
Investors understand that their principal will be at moderately high risk GMR Infrastructure Ltd. Construction Project 1.45 -1.45
This product is suitable for investors who are seeking*: Yes Bank Ltd Banks 1.43 -1.43
Income from arbitrage opportunities in the equity Adani Enterprises Ltd Trading 1.03 -1.04
market & long term capital growth
Investment predominantly in arbitrage opportunities in
Karnataka Bank Ltd Banks 0.85 -0.85
the cash & derivatives segment of the equity market and Union Bank Of India Banks 0.78 -0.78
equity & equity related securities
* Investors should consult their financial advisors if in doubt
Indiabulls Housing Finance Ltd. Finance 0.76 -0.76
about whether the product is suitable for them. Aurobindo Pharma Ltd. Pharmaceuticals 0.75 -0.75

*For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.

7
23
 KOTAK EQUITY SAVINGS FUND

An open-ended scheme investing in equity, arbitrage and debt

PORTFOLIO
Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Derivatives
NCC Limited Construction Project 0.75 -0.76
Raymond Limited Textile Products 0.75 -0.75
Infosys Ltd. Software 0.70 -0.70
The South Indian Bank Ltd. Banks 0.70 -0.71
Tata Elxsi Ltd. Software 0.69 -0.70
Reliance Industries Ltd. Petroleum Products 0.67 -0.67
Reliance Infrastructure Ltd Power 0.65 -0.66
Sun TV Network Ltd. Media and Entertainment 0.62 -0.62
PVR Ltd Media and Entertainment 0.61 -0.61
Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.56 -0.56
Bajaj Finance Limited Finance 0.55 -0.55
Suzlon Energy Ltd. Industrial Capital Goods 0.53 -0.54
UPL Ltd Pesticides 0.53 -0.53
TV18 Broadcast Ltd Media and Entertainment 0.50 -0.50
Adani Port and Special Economic Zone Limited Transportation 0.45 -0.45
Hindustan Unilever Ltd. Consumer Non Durables 0.45 -0.45
Bank Of Baroda Banks 0.43 -0.43
Syndicate Bank Banks 0.43 -0.43
MindTree Ltd. Software 0.40 -0.40
Cadila Healthcare Ltd. Pharmaceuticals 0.39 -0.39
CG Power and Industrial Solutions Limited Industrial Capital Goods 0.38 -0.39
Wockhardt Ltd. Pharmaceuticals 0.38 -0.38
Godrej Consumer Products Ltd. Consumer Non Durables 0.37 -0.37
IDFC Limited Finance 0.37 -0.37
Asian Paints Ltd. Consumer Non Durables 0.36 -0.36
Jaiprakash Associates Ltd Cement 0.36 -0.36
Canara Bank Banks 0.33 -0.33
Havells India Ltd. Consumer Durables 0.31 -0.31
Mahindra & Mahindra Financial Services Ltd. Finance 0.28 -0.29
Tata Steel Limited. Ferrous Metals 0.28 -0.28
Equitas Holdings Ltd Finance 0.27 -0.27
Century Textiles & Industries Ltd. Cement 0.25 -0.26
Tata Power Co. Ltd. Power 0.25 -0.25
Tata Motors Ltd - DVR Auto 0.23 -0.23
Can Fin Homes Ltd. Finance 0.21 -0.21
Marico Ltd. Consumer Non Durables 0.20 -0.20
State Bank Of India Banks 0.20 -0.20
ICICI Bank Ltd. Banks 0.19 -0.19
Jain Irrigation Systems Ltd. Industrial Products 0.19 -0.19
JSW Steel Ltd. Ferrous Metals 0.18 -0.18
Shriram Transport Finance Co Ltd. Finance 0.18 -0.18
Reliance Capital Ltd. Finance 0.17 -0.17
Bharat Forge Ltd. Industrial Products 0.16 -0.16
Cholamandalam Investment and Finance Company Ltd Finance 0.16 -0.16
Jubilant Foodworks Limited Consumer Non Durables 0.15 -0.15
Siemens Ltd. Industrial Capital Goods 0.15 -0.15
Gujarat State Fertilizers & Chemicals Ltd. Fertilisers 0.14 -0.14
Page Industries Ltd Textile Products 0.14 -0.14
Steel Authority of India Ltd. Ferrous Metals 0.14 -0.14
Bank of India Banks 0.13 -0.13
Britannia Industries Ltd. Consumer Non Durables 0.13 -0.13
Grasim Industries Ltd. Cement 0.13 -0.13
Mahindra & Mahindra Ltd. Auto 0.13 -0.13
Manappuram Finance Ltd Finance 0.13 -0.13
United Spirits Ltd. Consumer Non Durables 0.13 -0.13
Mahanagar Gas Ltd Gas 0.12 -0.12
Cipla Ltd. Pharmaceuticals 0.11 -0.11
Exide Industries Ltd Auto Ancillaries 0.11 -0.11
NIIT Technologies Ltd Software 0.11 -0.11
SREI Infrastructure Finance Ltd Finance 0.11 -0.11
Titan Company Ltd. Consumer Durables 0.11 -0.11
Bajaj Finserv Ltd. Finance 0.10 -0.10
DLF Limited Construction 0.10 -0.10
Godfrey Phillips India Ltd. Consumer Non Durables 0.10 -0.10
Ashok Leyland Ltd. Auto 0.09 -0.09
Federal Bank Ltd. Banks 0.09 -0.09
Dabur India Ltd Consumer Non Durables 0.08 -0.08
Kajaria Ceramics Ltd. Construction 0.08 -0.08
Maruti Suzuki India Limited Auto 0.08 -0.08
Nestle India Ltd. Consumer Non Durables 0.08 -0.08
Petronet LNG Ltd. Gas 0.08 -0.08
Vedanta Ltd. Non - Ferrous Metals 0.08 -0.08
Balkrishna Industries Ltd Auto Ancillaries 0.07 -0.07
Divi s Laboratories Limited Pharmaceuticals 0.07 -0.07
IFCI Ltd. Finance 0.07 -0.07
Bharat Heavy Electricals Ltd. Industrial Capital Goods 0.06 -0.06
Glenmark Pharmaceuticals Ltd Pharmaceuticals 0.06 -0.06
ACC Ltd. Cement 0.05 -0.05

7
24
 KOTAK EQUITY SAVINGS FUND

An open-ended scheme investing in equity, arbitrage and debt

PORTFOLIO
Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Derivatives
Jindal Steel & Power Ltd. Ferrous Metals 0.05 -0.05
Strides Pharma Science Ltd Pharmaceuticals 0.05 -0.05
GAIL (India) Ltd. Gas 0.04 -0.04
NBCC (India) Ltd Construction 0.04 -0.04
Hindalco Industries Ltd Non - Ferrous Metals 0.03 -0.03
MRF Limited Auto Ancillaries 0.03 -0.03
Apollo Tyres Ltd. Auto Ancillaries 0.02 -0.02
Indraprastha Gas Ltd. Gas 0.02 -0.02
Motherson Sumi Systems Ltd. Auto Ancillaries 0.02 -0.02
Pidilite Industries Ltd. Chemicals 0.02 -0.02
United Breweries Ltd. Consumer Non Durables 0.02 -0.02
Biocon Ltd. Pharmaceuticals 0.01 -0.01
Bosch Limited Auto Ancillaries 0.01 -0.01
Cummins India Ltd. Industrial Products 0.01 -0.01
Dr Reddys Laboratories Ltd Pharmaceuticals 0.01 -0.01
Hexaware Technologies Ltd. Software 0.01 -0.01
ITC Ltd. Consumer Non Durables 0.01 -0.01
Mangalore Refinery And Petrochemicals Ltd. Petroleum Products 0.01 -0.01
Tata Motors Ltd. Auto 0.01 -0.01
Ultratech Cement Ltd. Cement 0.01 -0.01
Hedged - Total 37.41 -37.30
Equity & Equity Related - Total 68.05 -40.27
Debt Instruments
Debentures and Bonds
Corporate Debt/Financial Institutions
Kotak Mahindra Prime Ltd. CRISIL AAA 6.58
Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 2.20
AXIS Bank Ltd. CRISIL AA+ 2.14
Corporate Debt/Financial Institutions - Total 10.92
Term Deposits
HDFC Bank Ltd. 8.44
IDFC Bank Limited 1.59
AXIS Bank Ltd. 1.31
HDFC Bank Ltd. ( ) 0.09
Term Deposits - Total 11.43
Triparty Repo 0.66
Net Current Assets/(Liabilities) 8.94
Grand Total 100.00

Note: # Term Deposit as provided above is towards margin for derivatives transactions
Equity Derivative Exposuer is 40.27%

SECTOR ALLOCATION (%)

3.23 2.46
13.27 12.52 12.09 10.10 6.49 5.98 4.01 2.87 26.98

Banks Debentures and Bonds TREP & Term Deposits & Rev.Repo Finance Consumer Non Durables
Software Pharmaceuticals Construction Project Petroleum Products Power REST

SYSTEMATIC INVESTMENT PLAN (SIP)

Systematic Investment Plan (SIP) If you had invested `10,000 every month
Monthly SIP of (`) 10000 Since Inception 3 years 1 year
Total amount invested (`) 5,20,000 3,60,000 1,20,000
Total Value as on Jan 31, 2019 (`) 6,09,194 4,00,493 1,22,359
Scheme Returns (%) 7.25 7.04 3.65
75% NIFTY 50 ARBITRAGE + 25% Nifty 50 (`)# 5,98,757 3,96,679 1,22,844
75% NIFTY 50 ARBITRAGE + 25% Nifty 50 Returns (%) 6.45 6.40 4.41
Nifty 50 (TRI) (`)^ 6,42,454 4,23,385 1,21,016
Nifty 50 (TRI) Returns (%) 9.72 10.81 1.57

Scheme Inception : - October 13, 2014. 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 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).
Kotak Equity Savings Fund NAV as on January 31, 2019: `13.8536 (Growth Option), `11.2082 (Monthly Dividend Option), `11.0231 (Quarterly Dividend Option), `14.2634 (Direct Growth Option), `11.4847 (Direct
Monthly Dividend Option), `11.1316 (Direct Quarterly Dividend Option)

25
 Investment style
Short Medium Long Volatility
KOTAK DEBT HYBRID Low
(Erstwhile Kotak MIP) Med

An open-ended hybrid scheme investing predominantly in debt instruments High

Fund Manager: Mr. Devender Singhal PORTFOLIO

& Mr. Abhishek
Bisen* Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AAUM: `281.11 crs Assets Assets

AUM: `276.61 crs Equity & Equity related ECL Finance Ltd. CRISIL AA 1.82
Benchmark: CRISIL Hybrid 85+15 - ITC Ltd. Consumer Non Durables 2.11 Indian Hospitals
Conservative Index $ ICICI Bank Ltd. Banks 1.95 Corporation Ltd ( Against
HDFC Ltd. Finance 1.22 Pledge of Apollo
Allotment date: December 02, 2003 Bata India Ltd. Consumer Durables 1.21 Hospital Shares) BRICKWORK BWR AA-(SO) 1.82
Folio count: 5,584 State Bank Of India Banks 1.19 Shriram Transport
HDFC Bank Ltd. Banks 1.13 Finance Co Ltd. CRISIL AA+ 1.79
Investment Objective Axis Bank Ltd Banks 0.99 Hindalco Industries Ltd. CRISIL AA 0.26
The investment objective of the scheme is to Colgate Palmolive Corporate Debt/
enhance returns over a portfolio of debt (India) Ltd. Consumer Non Durables 0.93 Financial
instruments with a moderate exposure in GlaxoSmithkline Institutions - Total 18.49
equity and equity related instruments. By Consumer Healthcare Ltd Consumer Non Durables 0.80 Public Sector
investing in debt securities, the scheme will Tata Motors Ltd. Auto 0.79 Undertakings
aim at generating regular returns, while Godfrey Phillips India Ltd. Consumer Non Durables 0.77 Punjab & Sind Bank ICRA A+ 9.02
enhancement of return is intended through CESC Ltd. Power 0.75 United Bank Of India CRISIL AA- 5.18
investing in equity and equity related Infosys Ltd. Software 0.74 Rural Electrification
securities. The scheme may also use various Mahindra & Mahindra Ltd. Auto 0.74 Corporation Ltd. CRISIL AAA 3.65
derivative and hedging products from time City Union Bank Ltd. Banks 0.69 National Bank for
to time, in the manner permitted by SEBI. Emami Ltd. Consumer Non Durables 0.67 Agriculture & Rural
Titan Company Ltd. Consumer Durables 0.65 Development CRISIL AAA 3.60
There is no assurance that the investment
RBL Bank Ltd Banks 0.64 U P Power Corporation Ltd
objective of the schemes will be realised.
Solara Active ( Guaranteed By UP
Available Plans/Options Pharma Sciences Ltd. Pharmaceuticals 0.58 State Government ) CRISIL A+ 3.32
A) Regular Plan B) Direct Plan BEML Ltd Industrial Capital Goods 0.57 U P Power Corporation Ltd
Prataap Snacks Ltd Consumer Non Durables 0.56 ( Guaranteed By UP
Options: Dividend Payout, Dividend............ Saregama India Ltd. Media and Entertainment 0.54 State Government ) FITCH IND AA(SO) 2.15
Reinvestment & Growth (applicable for all Tech Mahindra Ltd. Software 0.53 Power Grid Corporation of
plans) Jubilant Foodworks Limited Consumer Non Durables 0.51 India Ltd. CRISIL AAA 1.82
Dividend Frequency Bharat Forge Ltd. Industrial Products 0.45 Vijaya Bank ICRA AA- 0.72
Monthly (12th of every Month) Quarterly Hero MotoCorp Ltd. Auto 0.44 Public Sector
(20th of Mar/Jun/Sep/Dec) Heritage Foods Ltd Consumer Non Durables 0.38 Undertakings - Total 29.46
JMC Projects (India) Ltd Construction 0.35 Government
Ratios The Ramco Cements Ltd Cement 0.34 Dated Securities
$ GMR Infrastructure Ltd. Construction Project 0.26 7.17% Central
Standard Deviation 5.43% Odisha Cement Ltd Services 0.26 Government SOV 7.08
Huhtamaki PPL Ltd Industrial Products 0.25 7.32% Central
Modified Duration 2.68 yrs Future Retail Ltd. Retailing 0.23 Government SOV 4.21
Apollo Micro Systems Ltd Industrial Capital Goods 0.22 7.95% Central
Portfolio Yield 9.03% Apollo Tyres Ltd. Auto Ancillaries 0.22 Government SOV 3.71
Source: $ICRAMFI Explorer. CESC Ventures Ltd. Software 0.22 8.27% State Government SOV 1.82
Spencers Retail Ltd. Retailing 0.08 8.42% State Government SOV 1.29
Standard Deviation is calculated on Equity & Equity Government Dated
Annualised basis using 3 years history of Related - Total 24.96 Securities - Total 18.11
monthly returns. Debt Instruments Term Deposits
Minimum Investment Amount Debentures and Bonds HDFC Bank Ltd. 0.22
Initial Investment: (i) Dividend Re- Corporate Debt/ HDFC Bank Ltd. 0.09
investment & Growth and Dividend Payout Financial Institutions Term Deposits - Total 0.31
Reliable Devices Trust ( ) ICRA AAA 5.53 Triparty Repo 5.78
(Quarterly) - `5000 & above (ii) Dividend
Mahindra & Mahindra Net Current Assets/
Payout (Monthly) - `50,000 & above Financial Services Ltd. FITCH IND AAA 5.44
Additional Investment: `1000 & in multiples (Liabilities) 2.89
NHPC Ltd. FITCH IND AAA 1.83 Grand Total 100.00
of `1
Ideal Investments Horizon - 1 year & above Term Deposit as provided above is towards margin for derivatives transactions
Load Structure Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments 3.86 years.
Entry Load: Nil. (applicable for all plans) Kotak Debt Hybrid (Formerly Known As Kotak MIP) NAV as on January 31, 2019: `29.8713 (Growth Option), `31.8126 (Direct Growth
Exit Load: Option), `11.6526 (Monthly Dividend), `12.1172 (Direct Monthly Dividend), `13.0531 (Quarterly Dividend), `13.6903 (Direct Quarterly Dividend)
a) For redemption / switch out of upto 10%
of the initial investment amount (limit) ALLOCATION (%)
purchased or switched in within 1 year from
the date of allotment: Nil.
b) If units redeemed or switched out are in 47.95 24.96 18.11 6.09 2.89
excess of the limit within 1 year from the
date of allotment: 1%.
c) If units are redeemed or switched out on
or after 1 year from the date of allotment: Debentures and Bonds Equities Government Dated Securities TREP & Term Deposits & Rev.Repo
Nil. Net Current Assets
Total Expense Ratio**
Regular: 2.28%; Direct: 1.16%

Data as on January 31, 2019

RATING PROFILE (%)
Product Label 39.98 24.96 13.74 12.34 6.09 2.89
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e AAA, IND AAA, SOV Equities AA+, AA, IND AA(SO), AA-, BWR AA-(SO) A+
M

ly

TREP & Term Deposits & Rev.Repo Net Current Assets

Low

High

LOW HIGH *For Fund Manager experience, please refer page 60-61. ## Risk rate assumed to be 6.50% (FBIL Overnight MIBOR rate as on 31th January 2019). **Total Expense Ratio
Investors understand that their principal will be at moderate risk includes applicable B30 fee and GST. For last three dividends, please refer page no 62-64. For scheme performance, please refer page no 53-59.
This product is suitable for investors who are seeking*: $ With Effect from 25th May 2018, the Benchmark is changed to Crisil Hybrid 85+15- Conservative Index TRI.
Income & capital growth over a long term horizon
Investment in a portfolio of debt instruments with a
moderate exposure in equity & equity related
instruments
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

26
 Maturity
Short Medium Long Volatility
KOTAK MAHINDRA LIQUID SCHEME Low

Med
An open-ended liquid scheme High

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `30,960.06 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `33,878.78 crs Assets Assets
Benchmark: Nifty Liquid Index $
Debt Instruments Manappuram Finance Ltd. CRISIL A1+ 0.73
Allotment date: November 4, 2003 Debentures and Bonds Reliance Industries Ltd. CRISIL A1+ 0.73
Folio count: 25,921 Corporate Debt/Financial IIFL Home Finance Ltd. CRISIL A1+ 0.66
Institutions Shriram City Union
Investment Objective
The investment objective of the Scheme is HDFC Ltd. CRISIL AAA 0.77 Finance Ltd. ICRA A1+ 0.66
to provide reasonable returns and high level Reliance Jio Infocomm Ltd. CRISIL AAA 0.41 Chambal Fertilisers &
of liquidity by investing in debt instruments Kotak Mahindra Chemicals Ltd. CRISIL A1+ 0.59
such as bonds, debentures & Government Investments Ltd. CRISIL AAA 0.07 Tata Motors Finance Ltd. ICRA A1+ 0.58
Securities; and money market instruments Corporate Debt/Financial AXIS Finance Ltd. CRISIL A1+ 0.44
such as treasury bills, commercial paper,
certificate of deposit, including repos in Institutions - Total 1.25 AU Small Finance
permitted securities of different maturities, Public Sector Bank Ltd. FITCH IND A1+ 0.29
so as to spread the risk across different kinds Undertakings Endurance
of issuers in the debt markets. The Scheme National Bank for Technologies Ltd CRISIL A1+ 0.29
may invest in call money/term money Green Infra Wind
market in terms of RBI guidelines in this Agriculture & Rural
Development CRISIL AAA 0.49 Energy Ltd. ICRA A1+ 0.29
respect. Subject to the maximum amount
permitted from time to time, the Scheme Small Industries Hero FinCorp Ltd. CRISIL A1+ 0.29
may invest in offshore securities in the Development Bank Of India CARE AAA 0.25 RBL Bank Ltd. CRISIL A1+ 0.29
manner allowed by SEBI / RBI, provided such ONGC Manglore AXIS Bank Ltd. ICRA A1+ 0.15
investments are in conformity with the Petrochemicals Ltd. FITCH IND AAA 0.15 HDB Financial Services Ltd. CRISIL A1+ 0.15
investment objective of the Scheme and the Bajaj Consumer
prevailing guidelines and Regulations. To Public Sector
reduce the risk of the portfolio, the Scheme Undertakings - Total 0.89 Care Limited CRISIL A1+ 0.09
may also use various derivative and hedging Money Market L & T Finance Ltd. CRISIL A1+ 0.07
products from time to time, in the manner Instruments Corporate Debt/Financial
permitted by SEBI. There is no assurance Institutions - Total 47.92
that the investment objective of the Commercial Paper(CP)/
Certificate of Deposits(CD) Public Sector
Schemes will be realised.
Corporate Debt/Financial Undertakings
Available Plans/Options Power Finance
Institutions
A) Regular Plan B) Direct Plan Corporation Ltd. CRISIL A1+ 8.25
AXIS Bank Ltd. CRISIL A1+ 6.63
Options: Dividend Payout, Bajaj Finance Ltd. CRISIL A1+ 4.67 Punjab National Bank CARE A1+ 4.39
Dividend Reinvestment & Growth LIC Housing Finance Ltd. CRISIL A1+ 4.02 Rural Electrification
(applicable for all plans) IDFC Bank Limited CRISIL A1+ 3.75 Corporation Ltd. ICRA A1+ 2.61
Reliance Jio Infocomm Ltd. CRISIL A1+ 3.30 National Thermal Power
Dividend Frequency
Daily, Weekly (Every Monday) (applicable Hindustan Zinc Ltd. CRISIL A1+ 2.94 Corporation Ltd. CRISIL A1+ 2.54
for all plans) Muthoot Finance Ltd. CRISIL A1+ 1.91 National Bank for
Tata Motors Ltd. CRISIL A1+ 1.77 Agriculture & Rural
Ratios Development ICRA A1+ 2.06
Piramal Capital & Housing
$
Standard Deviation 0.18% Finance Ltd. CRISIL A1+ 1.54 Steel Authority of India Ltd. FITCH A1+(IND) 1.47
Shriram Transport Finance Oriental Bank of Commerce CRISIL A1+ 1.40
Modified Duration 0.10yrs Co Ltd. CRISIL A1+ 1.47 Public Sector
Aditya Birla Finance Ltd. ICRA A1+ 1.40 Undertakings - Total 22.72
Portfolio Yield 6.99% Reverse Repo 6.52
Mahindra & Mahindra
Financial Services Ltd. CRISIL A1+ 1.40 Treasury Bills
Source: $ ICRAMFI Explorer. Standard 91 Days Treasury Bill
HDFC Ltd. CRISIL A1+ 1.37
Deviation is calculated on Annualised basis 08/02/2019 SOV 3.77
Cholamandalam
using 3 years history of monthly returns. 91 Days Treasury Bill
Investment and Finance
Minimum Investment Amount Company Ltd. CRISIL A1+ 1.25 14/03/2019 SOV 0.85
Initial Investment: `5000 and in multiple of Reliance Retail Limited CRISIL A1+ 0.88 45 Days Cah Management
`1 for purchase and for `0.01 for switches Tata Capital Financial Bill 18/03/2019 SOV 0.59
Additional Investment: `1000 & in multiples Services Limited CRISIL A1+ 0.87 91 Days Treasury Bill
of `1 Tata Motors Finance 07/03/2019 SOV 0.55
Ideal Investment Horizon: 1 - 15 days Solutions Ltd. ICRA A1+ 0.87 Treasury Bills - Total 5.76
Load Structure India Infoline Triparty Repo 14.76
Entry Load: Nil. (applicable for all plans) Finance Limited CRISIL A1+ 0.85 Net Current Assets/
Exit Load: Nil. (applicable for all plans) Bharti Airtel Ltd. CRISIL A1+ 0.73 (Liabilities) 0.18
Grand Total 100.00
Total Expense Ratio**
Regular: 0.20%; Direct: 0.15%
ALLOCATION (%)
2.14
Data as on January 31, 2019 70.64 21.28 5.76 0.18
Product Label
Riskometer

Moderate Mo
Commercial Paper (CP)/Certi cate of Deposits (CD) TREP & Term Deposits & Rev.Repo Treasury Bills
t el y d
era Higerat Net Current Assets
odLow h e Debentures and Bonds
M

ly

RATING PROFILE (%)

Low

High

LOW HIGH
78.54 21.28 0.18
Investors understand that their principal will be at low risk
This product is suitable for investors who are seeking*:
Income over a short term investment horizon
Investment in debt & money market securities
* Investors should consult their financial advisors if in doubt A1+, A1+(IND), AAA, IND A1+, IND AAA, SOV TREP & Term Deposits & Rev.Repo Net Current Assets
about whether the product is suitable for them.

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.10 years.
Kotak Liquid Fund NAV as on January 31, 2019: `3729.443 (Growth Option), `3740.638 (Direct Growth Option), `1000.61 (Weekly Dividend), `1005.712 (Direct Weekly Dividend), `1222.81 (Daily Dividend), `1222.81
(Direct Daily Dividend)
$ With Effect from 1st June 2018, the Benchmark is changed to Nifty Liquid Index from Nifty Liquid Fund Index. The above performance is benchmarked to Nifty Liquid fund index
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59.

27
 Maturity
Short Medium Long Volatility
KOTAK BOND SHORT TERM PLAN Low

Med
An open-ended short term debt scheme investing in instruments such that the High
macaulay duration of the portfolio is between 1 year and 3 years

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `8,038.10 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `8,042.00 crs Assets Assets
Benchmark: NIFTY Short Duration
Debt Index $ Debt Instruments Undertakings
Debentures and Bonds Power Finance
Allotment date: May 2, 2002 Corporation Ltd. CRISIL AAA 6.03
Corporate Debt/
Folio count: 3,074 Financial Institutions Rural Electrification
Mahindra & Mahindra Corporation Ltd. CRISIL AAA 5.78
Investment Objective Financial Services Ltd. FITCH IND AAA 9.91 Small Industries
The investment objective of the Scheme is HDFC Ltd. CRISIL AAA 7.69 Development Bank Of India CARE AAA 3.66
to provide reasonable returns and............. Reliance Jio Infocomm Ltd. CRISIL AAA 4.82 State Bank Of India. CRISIL AAA 2.16
reasonably high levels of liquidity by Indiabulls Housing Finance Ltd. CARE AAA 3.91 National Bank for Agriculture
investing in debt instruments such as & Rural Development CRISIL AAA 1.89
Reliable Devices Trust ( ) ICRA AAA 3.87
bonds, debentures and Government PNB Housing Finance Ltd. FITCH IND AA+ 1.09
Rent A Device Trust ( ) ICRA AAA(SO) 3.19
securities; and money market instruments
Nabha Power Ltd. ( ) ICRA AAA(SO) 2.81 Bank Of Baroda FITCH IND AAA 0.31
such as treasury bills, commercial papers,
Tata Sons Private Ltd. CRISIL AAA 2.57 ONGC Manglore
certificates of deposit, including repos in
permitted securities of different maturities, HDB Financial Services Ltd. CRISIL AAA 2.52 Petrochemicals Ltd. FITCH IND AAA 0.10
so as to spread the risk across different kinds Reliance Industries Ltd. CRISIL AAA 2.51 Power Grid Corporation
of issuers in the debt markets. There is no Aditya Birla Finance Ltd. CRISIL AAA 2.46 of India Ltd. CRISIL AAA 0.08
assurance that the investment objective of Bajaj Finance Ltd. CRISIL AAA 1.65 Public Sector
the Scheme will be realised. Nabha Power Ltd. ( backed Undertakings - Total 21.10
by unconditional and Government Dated
Available Plans/Options irrevocable guarantee by Securities
A) Regular Plan B) Direct Plan Larsen & Toubro Ltd ) ICRA AAA 1.37 7.17% Central Government SOV 1.83
Options: Dividend Payout, Dividend.......... Bhopal Dhule Transmission 8.45% State Government SOV 1.20
Reinvestment & Growth (applicable for all Company Ltd. ( Operational 8.26% State Government SOV 0.63
plans) power transmission project ) CRISIL AAA 1.33 8.5% State Government SOV 0.38
Dividend Frequency Reliance Jio Infocomm Ltd. 7.37% Central Government SOV 0.25
( Irrevocably and 8.27% State Government SOV 0.25
Monthly (12th of every Month), Half Yearly unconditionally guaranteed 8.21% State Government SOV 0.16
(20th of Mar/Sept) and normal (as decided by Reliance Industries ) CRISIL AAA 1.25 8.39% State Government SOV 0.15
by Trustees) Fullerton India Credit Co. Ltd. CARE AAA 1.24 1.44% Central Government SOV 0.13
Ratios Fullerton India Credit Co. Ltd. CRISIL AAA 1.24 Government Dated
Tata Capital Financial Securities - Total 4.98
$
Standard Deviation 1.38% Services Limited ICRA AAA 1.24 Money Market
L & T Infrastructure Finance Instruments
Modified Duration 1.71 yrs Company Ltd. CARE AAA 1.22 Commercial Paper(CP)/
JAMNAGAR UTILITIES & Certificate of Deposits(CD)
Portfolio Yield 8.64% POWER PRIVATE LIMITED Corporate Debt/
Source: $ ICRAMFI Explorer. Standard ( Mukesh Ambani Group ) CRISIL AAA 1.11 Financial Institutions
Deviation is calculated on Annualised basis Reliable Devices Trust L & T Infrastructure
using 3 years history of monthly returns. ( Underlying customer Finance Company Ltd. ICRA A1+ 3.45
Reliance Retail ) ICRA AAA 1.04 IndusInd Bank Ltd. CRISIL A1+ 2.72
Minimum Investment Amount LIC Housing Finance Ltd. CRISIL AAA 0.49 Indiabulls Housing Finance Ltd. CRISIL A1+ 0.68
Initial Investment: (i) Dividend Re- Tata Capital Financial IDFC Bank Limited CRISIL A1+ 0.06
investment & Growth - `5000 & above (ii) Services Limited CRISIL AAA 0.43 Corporate Debt/Financial
Dividend Payout (Monthly Dividend) - Gruh Finance Ltd. CRISIL AAA 0.36
`50,000 & above Institutions - Total 6.91
IOT Utkal Energy Public Sector Undertakings
Additional Investment: `1000 & in multiples Services Ltd. CRISIL AAA(SO) 0.36
of `1 National Bank for Agriculture
Sikka Ports & Terminals Ltd. & Rural Development FITCH IND A1+ 2.31
Ideal Investments Horizon: 6 months & ( Mukesh Ambani Group ) CRISIL AAA 0.30
above Small Industries Development
Kotak Mahindra Prime Ltd. CRISIL AAA 0.26 Bank Of India CARE A1+ 0.58
Load Structure Bajaj Finance Ltd. FITCH IND AAA 0.19
Entry Load: Nil. (applicable for all plans) Public Sector
Sundaram Finance Ltd. CRISIL AAA 0.16 Undertakings - Total 2.89
Exit Load: Nil. Sikka Ports & Terminals Ltd. CRISIL AAA 0.06 Triparty Repo 0.06
Total Expense Ratio** Corporate Debt/Financial Net Current Assets/
Regular:1.14%; Direct: 0.32% Institutions - Total 61.56 (Liabilities) 2.50
Public Sector Grand Total 100.00

Data as on January 31, 2019

ALLOCATION (%)
2.50
82.66 9.80 4.98 0.06
Product Label
Riskometer

Moderate Mo Debentures and Bonds Commercial Paper (CP)/Certi cate of Deposits (CD) Government Dated Securities
t el y d
era Higerat TREP & Term Deposits & Rev.Repo
odLow h e Net Current Assets
M

ly

RATING PROFILE (%)

Low

High

LOW HIGH 96.35 2.50 1.09 0.06

Investors understand that their principal will be at moderately low risk
This product is suitable for investors who are seeking*:
Income over a medium term investment horizon
Investment in debt & money market securities with A1+, AAA, AAA(SO), IND A1+, IND AAA, SOV TREP & Term Deposits & Rev.Repo
portfolio Macaulay duration between 1 year & 3 years
Net Current Assets IND AA+
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 2.02 years.
Kotak Bond Short Term Plan NAV as on January 31, 2019: `34.1985 (Growth Option), `35.758 (Direct Growth Option), `10.1058 (Monthly Dividend), `11.3212 (Direct Monthly Dividend), `12.4664 (Half Yearly Dividend),
`12.6846 (Direct Half Yearly Dividend), `10.618 (Direct Normal Dividend)
$ With Effect from 1st June 2018, the Benchmark is changed to Nifty Short Duration Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to NIFTY Short Duration Debt Index.
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

28
 Maturity
Short Medium Long Volatility
KOTAK SAVINGS FUND Low
(Erstwhile Kotak Treasury Advantage Fund) Med
An open-ended ultra-short term debt scheme investing in instruments such that the High
macaulay duration of the portfolio is between 3 months and 6 months
Fund Manager: Mr. Deepak Agrawal*
PORTFOLIO
AAUM: `7,714.89 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `7,910.62 crs
Assets Assets
Benchmark: NIFTY Ultra Short
Duration Debt Index $ Debt Instruments Government ) FITCH IND AA(SO) 0.11
Debentures and Bonds Export-Import Bank of India CRISIL AAA 0.04
Allotment date: August 13, 2004
Corporate Debt/ Rural Electrification
Folio count: 13,383 Financial Institutions Corporation Ltd. CRISIL AAA 0.04
Nabha Power Ltd. ( backed National Bank for
Investment Objective by unconditional and Agriculture & Rural
The investment objective of the Scheme is irrevocable guarantee by Development CRISIL AAA 0.03
to generate returns through investments in Larsen & Toubro Ltd ) ICRA AAA 11.54 Public Sector
debt and money market instruments with a Reliable Devices Trust ( ) ICRA AAA 4.69 Undertakings - Total 10.07
view to reduce the interest rate risk. Shriram Transport Government Dated
However, there is no assurance or Finance Co Ltd. FITCH IND AA+ 3.80 Securities
guarantee that the investment objective of Bahadur Chand Investments 8.39% State Government SOV 0.13
the scheme will be achieved. Private Limited ( Secured by Government Dated
Available Plans/Options Hero Moters Ltd ) (^) ICRA AA 3.79 Securities - Total 0.13
L & T Finance Ltd.(^) ICRA AAA 3.79 Money Market
A) Regular Plan B) Direct Plan Reliance Jio Infocomm Ltd. CRISIL AAA 2.78 Instruments
Options: Dividend Payout, Dividend Rent A Device Trust ( ) ICRA AAA(SO) 2.54 Commercial Paper(CP)/
Reinvestment & Growth (applicable for all Shriram Transport Certificate of Deposits(CD)
plans) Finance Co Ltd. CRISIL AA+ 2.53 Corporate Debt/
L & T Infrastructure Financial Institutions
Dividend Frequency Finance Company Ltd. FITCH IND AAA 2.52 IndusInd Bank Ltd.(^) CRISIL A1+ 5.46
Daily, Monthly (12th of every Month) and LIC Housing Finance Ltd. CRISIL AAA 2.25 HDFC Ltd. CRISIL A1+ 4.82
Weekly (Every Monday) HPCL Mittal Energy Ltd. ICRA AA+ 1.96 AXIS Bank Ltd. CRISIL A1+ 3.42
Ratios Piramal Capital & Housing IDFC Bank Limited(^) CRISIL A1+ 3.39
Finance Ltd. ICRA AA+ 1.92 Piramal Capital & Housing
$
Standard Deviation 0.48% HDFC Ltd. CRISIL AAA 1.87 Finance Ltd. CRISIL A1+ 3.04
L & T Finance Ltd. FITCH IND AAA 1.58 Suraksha Realty Ltd.
Modified Duration 0.44 yrs Piramal Enterprises Ltd. ICRA AA 1.57 ( Secured by Equity shares
Mahindra & Mahindra of Sun Pharmaceuticals
Portfolio Yield 8.08% Financial Services Ltd.(^) FITCH IND AAA 1.25 Industries Ltd ) CARE A1+(SO) 1.89
$
Tata Capital Housing Indostar Capital
Source: ICRAMFI Explorer. Standard Finance Ltd. ICRA AAA 1.01 Finance Limited CRISIL A1+ 1.05
Deviation is calculated on Annualised basis Muthoot Finance Ltd. CRISIL AA 0.72 Indiabulls Housing
using 3 years history of monthly returns. Tata Capital Financial Finance Ltd. CRISIL A1+ 0.88
Minimum Investment Amount Services Limited ICRA AAA 0.63 Reliance Industries Ltd. CRISIL A1+ 0.63
Initial Investment: (i) Dividend Re- Kotak Mahindra Prime Ltd. CRISIL AAA 0.31 ICICI Bank Ltd. ICRA A1+ 0.49
investment & Growth- `5000 & above (ii) Corporate Debt/Financial Corporate Debt/Financial
Dividend Payout (Weekly) - `1,00,00,000 & Institutions - Total 53.05 Institutions - Total 25.07
above Public Sector Public Sector
Additional Investment: `1000 & in multiples Undertakings Undertakings
of `1 ONGC Manglore National Bank for
Ideal Investment Horizon: 1-3 months Petrochemicals Ltd.(^) FITCH IND AAA 4.11 Agriculture & Rural
Power Finance Development ICRA A1+ 0.31
Load Structure Corporation Ltd. CRISIL AAA 3.61 Public Sector
Entry Load: Nil. (applicable for all plans) PNB Housing Finance Ltd. FITCH IND AA+ 1.02 Undertakings - Total 0.31
Exit Load: Nil (applicable for all plans) Bank Of Baroda CARE AA 0.57 Reverse Repo 1.10
Total Expense Ratio** Canara Bank CRISIL AAA 0.38 Triparty Repo 9.58
Regular:0.65%; Direct: 0.28% Indian Railway Finance Net Current Assets/
Corporation Ltd. CRISIL AAA 0.16 (Liabilities) 0.69
U P Power Corporation Ltd
Grand Total 100.00
( Guaranteed By UP State

ALLOCATION (%)
0.69
63.12 25.38 10.68 0.13

Debentures and Bonds Commercial Paper (CP)/Certi cate of Deposits (CD) TREP & Term Deposits & Rev.Repo
Data as on January 31, 2019
Net Current Assets Government Dated Securities
Product Label
Riskometer RATING PROFILE (%)
Moderate Mo
t el y d
era Higerat 70.64 17.99 10.68 0.69
odLow h e
M

ly
Low

High

A1+, A1+(SO), AAA, AAA(SO), IND AAA, SOV AA+, IND AA+, AA, IND AA(SO)
TREP & Term Deposits & Rev.Repo Net Current Assets
LOW HIGH
Investors understand that their principal will be at low Moderately low risk
This product is suitable for investors who are seeking*:
Income over a short term investment horizon
Investment in debt & money market securities with
portfolio Macaulay duration between 3 months & 6
months
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Jan 2019 is 17.70% of the net assets.
Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.48 years.
Kotak Savings Fund (Erstwhile Kotak Treasury Advantage Fund) NAV as on January 31, 2019: `10.0798 (Daily Dividend Option), `10.0805 (Daily Dividend - Direct), `29.5489 (Growth Option), `10.4318 (Monthly
Dividend Option), `10.2007 (Weekly Dividend Option), `13.615 (Monthly Dividend - Direct), `10.1645 (Weekly Dividend - Direct), `30.1034 (Growth - Direct Option)
$ With Effect from 1st June 2018, the Benchmark is changed to Nifty Ultra-short term Index from Crisil Liquid Fund. The above performance is benchmarked to NIFTY Ultra Short Duration Debt Index
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

29
 Maturity
Short Medium Long Volatility
KOTAK MONEY MARKET SCHEME Low
(Erstwhile Kotak Floater Short Term Scheme) Med
An open-ended debt scheme investing in money market instruments High

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `6,003.96 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `6,198.65 crs Assets Assets
Benchmark: Nifty Money Market
Money Market Instruments Godrej Properties Limited CRISIL A1+ 1.61
Index $
Commercial Paper(CP)/ AU Small Finance Bank Ltd. FITCH IND A1+ 1.57
Allotment date: July 14, 2003
Certificate of Deposits(CD) Indostar Capital
Folio count: 12,530
Corporate Debt/ Finance Limited CRISIL A1+ 1.48
Investment Objective Financial Institutions Piramal Capital & Housing
The investment objective of the Scheme is
IndusInd Bank Ltd. CRISIL A1+ 10.90 Finance Ltd. CRISIL A1+ 1.23
to generate returns by investing in money
market instruments having maturity upto 1 HDFC Ltd. CRISIL A1+ 9.54 Tata Communication
year. There is no assurance that the IDFC Bank Limited CRISIL A1+ 9.44 Payment Solutions Ltd. CRISIL A1+ 0.80
investment objective of the Scheme will be
AXIS Bank Ltd. CRISIL A1+ 7.86 HDFC Bank Ltd. CRISIL A1+ 0.16
realised.
Suraksha Realty Ltd. Corporate Debt/
Available Plans/Options
A) Regular Plan B) Direct Plan ( Secured by Equity shares Financial Institutions - Total 84.94
Options: Dividend Payout (w.e.f May 15,
of Sun Pharmaceuticals Public Sector Undertakings
2017, Under Monthly Dividned option
only), Dividend Reinvestment & Growth Industries Ltd ) CARE A1+(SO) 6.34 Small Industries
(applicable for all plans Indiabulls Housing Finance Ltd. CRISIL A1+ 5.80 Development Bank Of India CRISIL A1+ 6.69
Dividend Frequency L & T Infrastructure Finance National Bank for Agriculture
Daily, Weekly (Every Monday) and Monthly
Company Ltd. ICRA A1+ 4.80 & Rural Development ICRA A1+ 2.35
(12th of every Month)
Shriram City Union Finance Ltd. ICRA A1+ 3.91 National Bank for Agriculture
Ratios
ICICI Bank Ltd. ICRA A1+ 3.69 & Rural Development FITCH IND A1+ 1.50
$
Standard Deviation 0.32% Public Sector
Tata Motors Finance Ltd. ICRA A1+ 3.14
Modified Duration 0.37 yrs Tata Capital Financial Undertakings - Total 10.54

Portfolio Yield 7.86% Services Limited CRISIL A1+ 3.13 Reverse Repo 3.76
$
JM Financial Products Limited ICRA A1+ 2.92 Triparty Repo 1.59
Source: ICRAMFI Explorer. Standard
Deviation is calculated on Annualised basis M.J. Pharmaceuticals Pvt. Ltd. CARE A1+(SO) 2.38 Net Current Assets/
using 3 years history of monthly returns. Muthoot Finance Ltd. CRISIL A1+ 2.34 (Liabilities) -0.83
Minimum Investment Amount LIC Housing Finance Ltd. CRISIL A1+ 1.90 Grand Total 100.00
Initial Investment: `5000 Under growth,
weekly dividend and monthly dividend
option & `1,00,000 under Daily Dividend
Reinvestment option, ALLOCATION (%)
Additional Investment: `1000 & in multiples
of `1 - 0.83 95.48 5.35
Ideal Investment Horizon: 1-15 days
Load Structure
Entry Load: Nil. (applicable for all plans)
Commercial Paper (CP)/Certi cate of Deposits (CD) TREP & Term Deposits & Rev.Repo Net Current Assets
Exit Load: Nil (applicable for all plans)
Total Expense Ratio**
Regular: 0.21%; Direct: 0.16%
RATING PROFILE (%)

-0.83 95.48 5.35

A1+, A1+(SO), IND A1+ TREP & Term Deposits & Rev.Repo Net Current Assets

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at low Moderately low risk
This product is suitable for investors who are seeking*:
Income over a short term investment horizon
Investment in money market securities
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.37 years.
Kotak Money Market Scheme (Erstwhile Kotak Floater Short Term Scheme) NAV as on January 31, 2019: `3032.885 (Growth Option), `3042.172 (Direct Growth Option), `1012.647 (Weekly Dividend), `1022.316
(Direct Weekly Dividend), `1007.37 (Monthly Dividend), `1012.73 (Direct Monthly Dividend), `1011.62 (Daily Dividend), `1011.62 (Direct Daily Dividend)
$ With Effect from 1st June 2018, the Benchmark is changed to Nifty Money Market Index from Crisil Liquid Fund. The above performance is benchmarked to Nifty Money Market Index
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

30
 Maturity
Short Medium Long Volatility
KOTAK LOW DURATION FUND Low

Med
An open-ended low duration debt scheme investing in instruments High

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `4,661.85 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `4,744.12 crs Assets Assets
Benchmark: NIFTY Low Duration
Debt Instruments Hinduja Leyland Finance Ltd. CRISIL AA- 0.31
Debt Index $
Debentures and Bonds Shriram Transport
Allotment date: March 6, 2008 Corporate Debt/ Finance Co Ltd. CRISIL AA+ 0.30
Folio count: 43,478 Financial Institutions Nuvoco Vistas Corporation Ltd.
S D Corporation Pvt. Ltd. ( 100 subsidiary of Nirma Ltd.) CRISIL AA 0.27
Investment Objective ( DSRA Guarantee from Adani Infra (India) Limited.
The primary objective of the Scheme is to Shapoorji Pallonji and ( Secured by shares of Adani
generate income through investment Company Private Limited) CARE AA(SO) 7.25 Port, Adani Enterprises & Adani
primarily in low duration debt & money Sarvoday Advisory Services Transmissions) BRICKWORK BWR AA-(SO) 0.21
market securities. There is no assurance or Pvt. Ltd. ( Secured by Equity HDFC Ltd. CRISIL AAA 0.12
guarantee that the investment objective of shares of JSW Energy Ltd. East-North Interconnection
the scheme will be achieved. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 5.87 Company Limited ( Operational
Available Plans/Options Manappuram Finance Ltd. ICRA AA- 5.27 power transmission project ) CRISIL AAA(SO) 0.11
Edelweiss Commodities Sundaram BNP Paribas Home
A) Regular B) Direct Plan Finance Ltd CARE AA+ 0.02
Services Ltd. ( Put options
Options: Dividend Payout, Dividend.......... on ECL Finance) ICRA AA 4.21 Corporate Debt/Financial
Reinvestment & Growth (dividend payout Rent A Device Trust ( ) ICRA AAA(SO) 4.03 Institutions - Total 69.80
is available under monthly dividend only) Dewan Housing Finance Public Sector Undertakings
(applicable for all plans) Corporation Ltd. CARE AAA 3.87 U P Power Corporation Ltd
Dividend Frequency Aasan Corporate Solutions ( Guaranteed By UP State
Weekly (every Monday), Monthly (12th of Pvt. Ltd. ( Guaranteed by a Government ) FITCH IND AA(SO) 8.21
every month) Piramal Group of Company Andhra Bank CRISIL AA- 2.53
and Shree Krishna Trust ) ICRA AA-(SO) 3.69 Union Bank of India FITCH IND AA 2.02
Ratios Reliable Devices Trust ( ) ICRA AAA 3.64 U P Power Corporation Ltd
$ ECL Finance Ltd. CRISIL AA 3.60 ( Guaranteed By UP State
Standard Deviation 0.78%
Edelweiss Housing Government ) CRISIL A+(SO) 1.94
0.89 yrs Finance Limited ICRA AA 2.98 Syndicate Bank CARE A+ 1.91
Modified Duration
Coastal Gujarat Power Ltd. PNB Housing Finance Ltd. FITCH IND AA+ 0.68
Portfolio Yield 9.84% ( Guarenteed by TATA Power Bank Of Baroda CARE AA 0.52
Co. Ltd ) CARE AA(SO) 2.74 Punjab & Sind Bank ICRA A+ 0.51
$
Source: ICRAMFI Explorer. Standard LIC Housing Finance Ltd. CRISIL AAA 2.69 Konkan Railway Corporation Ltd. ICRA AAA 0.21
Deviation is calculated on Annualised basis Piramal Enterprises Ltd. ICRA AA 2.20 State Bank Of India. CRISIL AA+ 0.21
using 3 years history of monthly returns. Avendus Finance Pvt Ltd. CRISIL A+ 2.10 Andhra Bank CARE A+ 0.20
Muthoot Fincorp Ltd. BRICKWORK BWR A+ 2.10 Small Industries
Minimum Investment Amount
Indiabulls Housing Finance Ltd. CARE AAA 2.00 Development Bank Of India CARE AAA 0.04
Initial Investment: `5000 and in multiple of
`1 for purchase and for `0.01 for switches Bharti Telecom Ltd. CRISIL AA+ 1.58 Public Sector
Additional Investment: `1000 & in multiples Sahyadri Agencies Ltd Undertakings - Total 18.98
of `1 for purchase and for `0.01 for ( Secured by Equity shares of Money Market Instruments
switches. Jyothy Laboratories Ltd. ) BRICKWORK BWR A(SO) 1.58 Commercial Paper(CP)/
Ideal Investment Horizon: 1-3 months Indian Hospitals Corporation Ltd Certificate of Deposits(CD)
( Against Pledge of Apollo Corporate Debt/
Load Structure Hospital Shares) BRICKWORK BWR AA-(SO) 1.49 Financial Institutions
Entry Load: Nil. Jyothy Fbricare Services Ltd. Suraksha Realty Ltd.
Exit Load: Nil. ( Guaranteed By Jyothi ( Secured by Equity shares of Sun
Any exit load charged (net off Service Tax, if Laboratories Ltd ) CARE AA(SO) 1.39 Pharmaceuticals Industries Ltd ) CARE A1+(SO) 4.09
any) shall be credited back to the Scheme; Muthoot Finance Ltd. CRISIL AA 1.08 Utkarsh Small Finance Bank Ltd. ICRA A1 2.04
Total Expense Ratio** ECL Finance Ltd. ICRA AA 1.05 IndusInd Bank Ltd. CRISIL A1+ 1.96
Regular:1.05%; Direct: 0.31% IIFL Home Finance Ltd. ICRA AA 0.84 IDFC Bank Limited CRISIL A1+ 0.62
Grand View Estates Pvt. Ltd. Piramal Capital & Housing
( backed by unconditional and Finance Ltd. CRISIL A1+ 0.53
irrevocable guarantee of Indiabulls Housing Finance Ltd. CRISIL A1+ 0.38
Shapoorji Pallonji & Co Pvt Ltd ) ICRA AA-(SO) 0.53 Corporate Debt/Financial
Hinduja Leyland Finance Ltd. CARE AA- 0.36 Institutions - Total 9.62
Nabha Power Ltd. ( backed by Net Current Assets/
unconditional and irrevocable (Liabilities) 1.60
guarantee by Larsen & Grand Total 100.00
Toubro Ltd ) ICRA AAA 0.32

Data as on January 31, 2019

ALLOCATION (%)

Product Label 88.78 9.62 1.60

Riskometer
Moderate Mo
t el y d
era Higerat Debentures and Bonds Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current Assets
odLow h e
M

ly
Low

High

RATING PROFILE (%)

LOW HIGH
Investors understand that their principal will be at moderate risk 57.58 24.61 16.21 1.60
This product is suitable for investors who are seeking*:
Regular Income over short term
Income by focussing on low duration securities with
portfolio Macaulay duration between 6 months and
12 months
A1, AA+, IND AA+, AA, AA(SO), IND AA, IND AA(SO), AA-, AA-(SO), BWR AA-(SO) A1+, A1+(SO), AAA, AAA(SO)
* Investors should consult their financial advisors if in doubt A+, A+(SO), BWR A+, BWR A(SO)
about whether the product is suitable for them.
Net Current Assets

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 1.12 years
Kotak Low Duration Fund NAV as on January 31, 2019: `2252.432 (Regular Plan-Growth Option), `1014.762 (Regular Plan-Weekly Dividend), `1024.741 (Regular Plan-Monthly Dividend), `2338.807 (Direct Plan- Growth
Option), `1199.306 (Direct Plan- Weekly Dividend), `1081.368 (Direct Plan- Monthly Dividend)
$ With Effect from 1st June 2018, the Benchmark is changed to Nifty Low Duration Index from Crisil Liquid Fund. The above performance is benchmarked to NIFTY Low Duration Debt Index.
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

31
 Equity Funds Ready Reckoner
Monthly
Investment Product Fund Standard 5 years
Scheme Name Key Features Benchmark AAUM Mcap (%) Overweight Underweight Beta Sharpe
Theme Positioning Manager Deviation Alpha
(Rs. Crs) (%) (%)

Kotak Bluechip 82.01

a. Favours industry leaders in cost, innovation, brand, competence, etc. with a 14.76 1. Industrial Manufacturing 1. Energy
Invest with Mr. Harish
Fund (Erstwhile Large cap proven execution track record across cycles Nifty 50 TRI 1,333.46 2. Cement & Cement Products 2. Financial Services 0.98 0.32 14.08 0.73
industry leaders Krishnan 0.67
Kotak 50) b. High conviction and long term calls taken 2.56 3. Pharma 3. Metals

Kotak India 81.21

a. Focus on sustainable large cap stories which can withstand market shocks 1. Consumer Goods 1. Financial Services
EQ Contra Fund Long term Mr. Deepak 9.02
Contra b. These are companies with pricing power for their competitive advantage or Nifty 100 TRI 661.69 2. Information Technology 2. Energy 0.92 0.67 13.26 0.29
(Erstwhile Kotak wealth creators Gupta 0.93
entry barriers 3. Media & Entertainment 3. Metals
Classic Equity) 8.85
Kotak Equity 49.52
1. Industrial Manufacturing 1. Financial Services
Opportunities Fund Large and Spotting the Mr. Harsha 41.06
(Erstwhile Kotak Identifies investment opportunities across market capitalisation and sectors Nifty 200 TRI 2,352.86 2. Cement & Cement Products 2. Automobile 0.96 0.51 14.36 2.43
Midcap hidden gems Upadhyaya 7.25
Opportunities) 3. Fertilisers & Pesticides 3. Consumer Goods
2.17

Kotak Standard a. Invests in a few sectors as the various sectors of the economy tend to perform 74.05
Focus on few differently at different points of time Mr. Harsha 1. Cement & Cement Products 1. Consumer Goods
Multicap Fund 16.72
Multi Cap Nifty 200 TRI 21,577.30 2. Construction 2. Information technology 0.96 0.61 14.13 4.56
(Kotak Select selected sectors b. Flexibility to move across market caps depending on their attractiveness Upadhyaya 1.79
during the economic phase 3. Financial Services 3. Metals
Focus Fund) 7.44

Tax advantage 61.74 1. Industrial Manufacturing 1. Financial Services

a. Portfolio is diversified across sectors and market capitalization segments Mr. Harsha 26.64
Kotak Tax Saver ELSS with potential Nifty 500 TRI 777.22 2. Cement & Cement Products 2. Consumer Goods 0.97 0.50 14.74 2.61
b. Offers dual benefits of growth and tax savings Upadhyaya 10.10
equity growth 3. Construction 3. Automobiles
1.52

a. Stands for winning investment ideas across the mid & small cap range offering
decent growth trajectory over the medium to long term horizon
Kotak Emerging b. Buy and hold strategy Nifty 6.14 1. Industrial Manufacturing 1. Financial Services
Mid Cap Emerging leaders Mr. Pankaj
Midcap 100 3,473.61 74.77 2. Cement & Cement Products 2. Information Technology 0.84 0.44 16.60 4.56
Equity Scheme c. Riskier than a large cap fund but offers faster growth rate since it has a smaller Tibrewal
base 17.32 3. Fertilisers & Pesticides 3. Energy
d. 0%-35% allocation to large cap or small cap opportunities as tactical plays 1.77

Kotak Small Cap a. Identifies the hidden growth potential of small cap sized companies Nifty 7.30
Spot them young, b. Portfolio exhibits higher volatility than large caps and Midcaps however tends Mr. Pankaj 1. Consumer Goods 1. Information Technology
Fund Small Cap Smallcap 50 1,053.72 26.75 2. Industrial Manufacturing 2. Financial Services 0.63 0.26 17.71 7.39
watch them grow to have a higher return potential in the long run Tibrewal
(Erstwhile Kotak TRI 64.88 3. Chemicals 3. Healthcare Services
Mid Cap Fund) c. Buy and hold strategy 1.07

India
a. Identifies ""flow related"" companies - These benefit from spending from
Kotak Infrastructure 29.13
government, private and household (in terms of properties).
Infrastructure Thematic: Mr. Harish Index 40.96
True to label They are not asset owners. 383.13 N/A N/A 0.87 0.21 17.04 11.04%
& Economic Infrastructure Krishnan (Customised 29.01
b. Focus on high quality companies exhibiting superior ROE, positive cash flow,
Reform Fund Index 0.90
low leverage in an otherwise challenging environment
by IISL)

a. Equity portion: Multi cap strategy to identify outstanding companies having Mr. Pankaj Nifty 50
Kotak Equity 51.63
Aggresive Best of both well managed and durable businesses with predictable earnings power Tibrewal Hybrid
Hybrid Fund 16.41
worlds: equity & Composite 1,629.00 N/A N/A 0.10 0.28 11.62 NA
(Erstwhile Kotak Hybrid b. Debt portion: Actively managed with medium to long term maturity 10.34
& debt c. Lower volatility than a pure equity or debt fund Mr. Abhishek Debt
Balance Fund) 21.62
Bisen 70:30 Index
a. Discovers arbitrage opportunities by simultaneously entering transactions of Nifty 50
Kotak Equity Arbitrage Mr. Deepak
Equity Arbitrage long position in cash and exactly off-setting short position in futures Arbitrage 12,844.83 N/A N/A N/A 0.40 -0.89 0.41 0.71%
Arbitrage Fund opportunities Gupta
b. Equity position is completely hedged Index

Mr. Deepak 75% of

Conservative portfolio with a blend of:
Gupta Nifty 50
Kotak Equity a. Income generation - through arbitrage opportunities & debt investment.
Equity Savings & Arbitrage 2,275.64 1.02 0.45 3.75 NA
Savings Fund b. Growth potential - through moderate participation in equity markets N/A N/A N/A
Mr. Abhishek Index + 25%
c. Tax efficiency - through equity orientation
Bisen of Nifty 50

Details provided are as on January 31st, 2019. Ratio Source: ICRA MFI Explorer. Risk rate assumed to be 6.50%
Alpha = Difference between Scheme returns & Benchmark Index TRI of the scheme. 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).
$ for Kotak Balance - "The benchmark has changed to Nifty 50 Hybrid Composite Debt 70:30 Index" from "CRISIL Hybrid 35+65- Aggressive Index LARGECAP MIDCAP
* The given market cap data is on the basis of new AMFI guidelines wherein Stocks are categorised as per given AMFI list
"For Tax Saver Fund : Minimum Initial Investment: 500. Additional Investment: 500 & inmultiples of 500. For all other Equity Schemes : Minimum Initial Investment: 5000. Additional Investment: 1000 & inmultiples of 1"
SMALLCAP DEBT + CASH
N/A: Field not applicable to the scheme owing to its investment theme.
Risk Factor: Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Continuous offer of units of all schemes available at NAV based prices.
 investment amt within 18 months: Nil,
Name of the Scheme This product is suitable for investors who are seeking* Riskometer

investment amt within 1 yr: Nil,

withdrawal within 1 year : 1%,

> above limit of withdrawal

*Within 3 months: 0.20%

Withdrawal up to 10% of

Withdrawal up to 15% of

within 18 months : 2%,

Equity Scheme

After 18 months : Nil.

After 3 months: NIL

After 1 year : Nil.
> above limit of
Exit Load
Riskometer

Moderate M

Nil

Nil
Nil

Nil

Nil

Nil

Nil

Nil

Nil
ly od
te e
er
a Hig rate
od ow h ly
M L

Kotak Equity Income from arbitrage opportunities in the equity market

Arbitrage Fund Investment in arbitrage opportunities in the cash & derivatives segment of the equity market.

Hig
Low

Note: ^UST = Ultra Short Term plan, ^^STP= Short Term plan. **AAA also includes A1+,A1+(SO), AAA(SO), IND AAA , Net current Assets, CBLO, Term Deposit and Rev repo. For Kotak Gilt Fund: Cash and Cash
Low High
Investors understand that their principal will be at
Moderately low risk

Long term capital growth

Kotak Bluechip Investment in portfolio of predominantly equity & equity related securities

Average Modified Macaulay

YTM % Maturity Duration Duration
Long term capital growth

(years)
Kotak Small Cap

0.10

2.38
1.03

1.73
0.37

3.76

3.22

3.52
0.47

2.46
0.96

1.83
Investment in equity & equity related securities predominantly in mid cap stocks

Long term capital growth

Kotak Equity Opportunities Investment in portfolio of predominantly equity & equity related securities
Riskometer
Long term capital growth

(years)
Kotak India EQ Contra Moderate

0.10

2.23
Investment in portfolio of predominantly equity & equity related securities

0.97

1.60
0.37

3.43

3.02

3.40
0.44

0.89

1.71

2.26
M
ely od
at e
er Hig rate
od w h ly

For Liquid schemes ( Kotak Liquid Scheme and Kotak Floater Short Term ) and Liquid plus schemes (Kotak Treasury Advantage and Kotak Low Duration) T-bill is included in AAA.
M Lo

Long term capital growth with a 3 year lock in

Kotak Tax Saver Investment in portfolio of predominantly equity & equity related securities

Hig
Low

h
Kotak Emerging Long term capital growth

(years)
Low High

4.77
0.10

0.37

0.48

1.08

2.02

3.00

3.49

4.48
1.12

4.20
2.89
Equity Scheme Investment in equity & equity related securities predominantly in mid & small cap companies. Investors understand that their principal will be at
Moderately High risk

Long term capital growth

Debt Funds Ready Reckoner

Kotak Standard Multicap Investment in portfolio of predominantly equity & equity related securities generally focused
on a few selected sectors
Long term capital growth

* The aforesaid revised exit load structure will be applicable only on a prospective basis of units purchased/SIP/STP registered on or after February 22, 2018.
10.04
Kotak Equity Hybrid Fund

10.16
Investment in equity & equity related securities balanced with income generation by investing

8.64

8.37
7.86
6.99

8.51

7.03
8.08

9.84

8.54

8.10
in debt & money market instruments
Income from arbitrage opportunities in the equity market & long term capital growth
Kotak Equity Savings Fund Investment predominantly in arbitrage opportunities in the cash & derivatives segment of the
equity market and equity & equity related securities

Macaulay duration 1-3 years

Macaulay duration 3-4 years

Macaulay duration 4-7 years

strategy, no cap on duration

Predominantly High quality

investment across duration

2.5 Years and above (1-4 years when defensive)

(1-7 years when defensive)

Riskometer
Kotak Infrastructure &

80-100% corporate bond

Minimum 65% in below

Gilt Fund with Dynamic

Moderate

Banking & PSU assets

M
ely od
at e

Key Differentiator
Hig rate

Macaulay duration

Macaulay duration

Dynamic strategy -
exposure in AA+ &
Maturity < 91 days
Economic Reform Fund er
od w h ly

Maturity < 1 year

M Lo

AA+ instruments
Long term capital growth

above assets
6-12 months
(formerly known as Long term capital appreciation by investing in equity and equity related instruments of

3-6 months
Hig
Low
companies contributing to infrastructure and economic development of India

h
PineBridge Infrastructure High
Low

& Economic Reform Fund ) Investors understand that their principal will be at
High risk

Debt Scheme
Kotak Money Market Income over a short term investment horizon
Scheme Investment in money market securities

15 days to 3 months
Ideal Investment

1 Year and above

1 Year and above

1 Year and above

1 Year and above

Income over a short term investment horizon
Kotak Savings Fund Investment in debt & money market securities with portfolio Macaulay duration between

1-3 Months

1-3 Months

and above

and above

and above
1-15 days

6 Months

6 Months

6 Months
Horizon
3 months and 6 months
Riskometer
Income over a medium term investment horizon
Kotak Bond Short Term Investment in debt & money market securities with portfolio Macaulay duration between
ely
Moderate M
od
1 year and 3 years er
at e
Hig rate
od ow h ly
M L

Income over a medium term investment horizon

Kotak Dynamic Bond Investment in debt & money market securities across duration

Hig
Low

Current Portfolio
Regular Income over short term
Kotak Corporate Low High

74.66% Below AA+

68.09% Below AA+

6.76% Below AA+

6.33% Below AA+

6.76% Below AA+

6.71% Below AA+

Income by investing in fixed income securities of varying maturities and predominantly

68.99% Below AA+

Investors understand that their principal will be at
Bond Fund

82.01% AAA,
in AA+ and above rated corporate bonds

93.37% AAA

56.57% AAA

19.93% AAA

25.38% AAA

38.33% AAA
93.92% AAA
11.22% AA+

21.42% AA+

15.22% AA+

64.98% AAA
Quality**
moderately low risk

15.67% Gilt

39.69% Gilt
100% AAA

20.32% Gilt
5.41% AA+

6.16% AA+
6.63% AA+

1.10% AA+

7.99% AA+
100% AAA

26.18% AAA

0.38% Gilt

100% Gilt
4.98% Gilt
4.83% AA+
Income over a medium term investment horizon
Kotak Credit Risk Investment predominantly in AA and below rated corporate bonds
(Excluding AA+ rated corporate bonds )

Income over a short to medium term investment horizon

Kotak Banking and Investment in debt & money market securities of PSUs, Banks, Public Financial Institutions,
PSU Debt Fund Government Securities & Municipal Bonds

Avg. AUM
(Rs crores)
Riskometer

30,960.06
Monthly

7,714.89

4,661.85

8,038.10
6,003.96

1,773.27
5,039.58
1,001.31

4,250.41
981.85

540.80

430.18
Moderate M
ely od
at e
er Hig rate
od ow h ly
M L

Income over a short term investment horizon

Kotak Mahindra Liquid Scheme Investment in debt & money market securities
Hig
Low

Ultra Short Duration

(Accrual Strategy)
Banking and PSU

Details provided are as on January 31st, 2019.

Low High

Current Scheme

Medium to Long
Corporate Bond

Short Duration
Money Market

Low Duration

Medium Term
Investors understand that their principal will be at

Positioning

Credit Risk
low risk

Duration
Dynamic
Liquid
Kotak Low Regular Income over short term

Gilt
Income by focusing on low duration securities with portfolio Macaulay duration between
Duration 6 months and 12 months

Equivalent is included under Gilt.

Riskometer

Moderate M
Income over a medium term investment horizon ely od
Kotak Medium Investment in debt, government securities & money market instruments M
er
od ow
L
at e
Hig rate
h ly

Term Fund with portfolio Macaulay duration between 3 years and 4 years

(Erstwhile Kotak Income

(Erstwhile Kotak Treasury
Hig
Low

Kotak Mahindra Liquid

h

Income over a long investment horizon

Kotak Mahindra Gilt

(Erstwhile Kotak Flexi
Scheme Name

Kotak Money Market

Kotak Dynamic Bond

Kotak Bond

Mahindra Bond Unit

Investment in debt & money market securities with portfolio Macaulay duration between

Opportunities Fund)
Floater Short Term)
Low High
4 years and 7 years

Unit Scheme 98-

Investment Plan
Kotak Credit Risk
(Erstwhile Kotak

Kotak Corporate

(Erstwhile Kotak
Advantage Fund)
Investors understand that their principal will be at
moderate risk

Kotak Medium
Kotak Banking
Kotak Mahindra Gilt
Kotak Savings
Income over a long investment horizon

Kotak Bond

Kotak Bond
Unit Scheme 98 -

& PSU Debt

Scheme 99)
Investments in sovereign securities issued by the Central and/or

Debt Fund)
Short Term
Kotak Low
State Government(s) and / or reverse repos in such securities.

Duration
Investment plan
Scheme

Scheme

Bond

Term
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
 Maturity
Short Medium Long Volatility
KOTAK CREDIT RISK FUND Low
(Erstwhile Kotak Income Opportunities Fund) Med
An open-ended debt scheme predominantly investing in aa and below rated High
corporate bonds (excluding AA+ rated corporate bonds)

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `5,039.58 crs
Issuer/Instrument Industry/Rating % to Net Assets
AUM: `5,081.83 crs
Benchmark: CRISIL Composite AA Debt Instruments
Short Term
Bond Index Debentures and Bonds
Corporate Debt/Financial Institutions
Allotment date: May 11, 2010
JSW Techno Projects Management Ltd. ( Secured by Equity shares of
Folio count: 23,986
JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 4.07
Investment Objective Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity
The investment objective of the scheme is to shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) BRICKWORK BWR A+(SO) 3.91
generate income by investing in debt /and Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) CRISIL AA(SO) 3.80
money market securities across the yield
curve and predominantly in AA rated and Aasan Corporate Solutions Pvt. Ltd. ( Guaranteed by a Piramal
below corporate securities. The scheme Group Company ) ICRA AA-(SO) 3.64
would also seek to maintain reasonable Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of
liquidity within the fund. There is no JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 3.29
assurance that the investment objective of
Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) CARE AA(SO) 3.04
the Schemes will be realised.
IIFL Home Finance Ltd. ICRA AA 2.36
Available Plans/Options HPCL Mittal Energy Ltd. ICRA AA+ 2.33
A) Regular Plan B) Direct Plan
INCRED FINANCIAL SERVICES PRIVATE LIMITED CARE A 1.97
Options: Dividend Payout, Dividend Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani
Reinvestment & Growth (applicable for all
Enterprises & Adani Transmissions) BRICKWORK BWR AA-(SO) 1.96
plans)
Piramal Enterprises Ltd. ICRA AA 1.96
Dividend Frequency
S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji
Weekly (Every Monday), Monthly (12th of
every Month), Quarterly (20th of Mar, Jun, and Company Private Limited) CARE AA(SO) 1.95
Sep and Dec of every Year), Annual (12th of YES Bank Ltd. ICRA AA- 1.88
March). Muthoot Fincorp Ltd. BRICKWORK BWR A+ 1.87
Ratios Nayara Energy Limited CARE AA 1.80
$
Edelweiss Agri Value Chain Ltd. ( Unconditional and irrevocable
Standard Deviation 1.42%
guarantee from Edelweiss Financial Services Limited) CARE AA(SO) 1.67
Modified Duration 1.60 yrs Prestige Estates Projects Limited ICRA A+ 1.49
Shriram Transport Finance Co Ltd. CRISIL AA+ 1.46
Portfolio Yield 10.04% Bharti Telecom Ltd. CRISIL AA+ 1.27
Source: $ ICRAMFI Explorer. Standard LIC Housing Finance Ltd. CARE AAA 1.18
Deviation is calculated on Annualised basis Reliance Jio Infocomm Ltd. CRISIL AAA 1.14
using 3 years history of monthly returns. Altico Capital India Pvt Ltd FITCH IND AA- 0.98
Minimum Investment Amount Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) 0.98
Initial Investment: `5000 and in multiple of ECL Finance Ltd. BRICKWORK BWR AA 0.98
`1 for purchase and for `0.01 for switches Future Lifestyle Fashions Ltd. CRISIL AA- 0.96
Additional Investment: `1000 & in multiples Muthoot Finance Ltd. CRISIL AA 0.92
of `1 Nuvoco Vistas Corporation Ltd. ( 100 subsidiary of Nirma Ltd.) CRISIL AA 0.90
Ideal Investments Horizon: 1 year & above
LIC Housing Finance Ltd. CRISIL AAA 0.75
Load Structure Asirvad Microfinance Private Limited ( ) CRISIL A+ 0.69
Entry Load: Nil. (applicable for all plans) Jana Small Finance Bank Ltd. ICRA BBB 0.68
Exit Load: a) For redemption / switch out of
upto 10% of the initial investment amount Dalmia Cement (Bharat) Ltd ICRA AA 0.65
(limit) purchased or switched in within 1 Indiabulls Housing Finance Ltd. CARE AAA 0.59
year from the date of allotment: Nil. Konti Infrapower & Multiventures Pvt. Ltd. ( Secured by Equity
b) If units redeemed or switched out are in shares of Zee Entertainment Enterprises Ltd ) BRICKWORK BWR A+ 0.36
excess of the limit within 1 year from the
Adani Infra (India) Limited. ( Secured by shares of Adani Port,
date of allotment: 1%.
c) If units are redeemed or switched out on Adani Enterprises & Adani Transmissions ) BRICKWORK BWR AA-(SO) 0.34
or after 1 year from the date of allotment: Aarish Solar Power Ltd. ( Solar power generating SPV of Greenko
Nil. Group with offtaker as NTPC & secured by corporate guarantee
Total Expense Ratio** of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28
Regular:1.72%; Direct: 0.84% Aashman Energy Pvt. Ltd. ( Solar power generating SPV of Greenko
Group with offtaker as NTPC & secured by corporate guarantee
Data as on January 31, 2019
of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28
Product Label Divyesh Power Pvt. Ltd. ( Solar power generating SPV of Greenko
Riskometer Group with offtaker as NTPC & secured by corporate guarantee
Moderate
of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28
Mo
t el y d
era Higerat Elena Renewable Energy Pvt. Ltd. ( Solar power generating SPV of
odLow h e
Greenko Group with offtaker as NTPC & secured by corporate
M

ly

guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28

Low

High

Pratyash Renewable Pvt. Ltd. ( Solar power generating SPV of Greenko

Group with offtaker as NTPC & secured by corporate guarantee of
LOW HIGH Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28
Investors understand that their principal will be at moderately low risk
SEI Baskara Power Pvt. Ltd. ( Solar power generating SPV of Greenko
This product is suitable for investors who are seeking*:
Income over a medium term investment horizon Group with offtaker as NTPC & secured by corporate guarantee of
Investment predominantly in in AA and below rated Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28
corporate bonds (Excluding AA+ rated corporate
bonds) SEI Enerstar Renewable Energy Pvt. Ltd. ( Solar power generating SPV
* Investors should consult their financial advisors if in doubt of Greenko Group with offtaker as NTPC & secured by corporate guarantee
about whether the product is suitable for them.
of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28
SEI Mihir Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group
with offtaker as NTPC & secured by corporate guarantee of Greenko

32
 KOTAK CREDIT RISK FUND
(Erstwhile Kotak Income Opportunities Fund)
An open-ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+ rated corporate bonds)

PORTFOLIO
Issuer/Instrument Industry/Rating % to Net Assets

Energies Pvt. Ltd. ) CARE AA-(SO) 0.28

Shreyas Renwable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko
Group with offtaker as NTPC & secured by corporate guarantee of Greenko
Energies Pvt. Ltd. ) CARE AA-(SO) 0.28
Zuvan Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with
offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28
HDFC Ltd. CRISIL AAA 0.20
JAMNAGAR UTILITIES & POWER PRIVATE LIMITED ( Mukesh Ambani Group ) CRISIL AAA 0.20
Bajaj Finance Ltd. CRISIL AAA 0.10
Tata Steel Ltd. CARE AA 0.09
Gruh Finance Ltd. CRISIL AAA 0.07
Shriram City Union Finance Ltd. CARE AA+ 0.02
Corporate Debt/Financial Institutions - Total 61.30
Public Sector Undertakings
U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(SO) 8.64
Andhra Bank CARE A+ 4.87
Punjab & Sind Bank ICRA A+ 2.75
Syndicate Bank CARE A+ 2.31
Union Bank of India CARE AA- 1.18
U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 1.07
Union Bank of India FITCH IND AA 0.70
Andhra Bank CRISIL AA- 0.61
U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA 0.48
PNB Housing Finance Ltd. FITCH IND AA+ 0.33
ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 0.30
Power Finance Corporation Ltd. CRISIL AAA 0.22
Konkan Railway Corporation Ltd. ICRA AAA 0.10
United Bank Of India CRISIL AA- 0.09
National Bank for Agriculture & Rural Development CRISIL AAA 0.08
Rural Electrification Corporation Ltd. FITCH IND AAA 0.04
Steel Authority of India Ltd. FITCH IND AA- 0.02
Public Sector Undertakings - Total 23.79
Money Market Instruments
Commercial Paper(CP)/Certificate of Deposits(CD)
Corporate Debt/Financial Institutions
HDFC Ltd. CRISIL A1+ 3.68
Piramal Capital & Housing Finance Ltd. CRISIL A1+ 2.73
Indiabulls Housing Finance Ltd. CRISIL A1+ 2.00
IndusInd Bank Ltd. CRISIL A1+ 1.83
Suraksha Realty Ltd. ( Secured by Equity shares of Sun Pharmaceuticals
Industries Ltd ) CARE A1+(SO) 0.98
AXIS Bank Ltd. CRISIL A1+ 0.28
Corporate Debt/Financial Institutions - Total 11.50
Triparty Repo 0.58
Net Current Assets/(Liabilities) 2.83
Grand Total 100.00

ALLOCATION (%)
85.09 11.5 2.83 0.58

Debentures and Bonds Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current Assets
TREP & Term Deposits & Rev.Repo

RATING PROFILE (%)

0.98
42.24 36.22 16.47 2.83 0.68
0.58

AA+, IND AA+, AA, AA(SO), BWR AA, IND AA, IND AA(SO), AA-, AA-(SO), BWR AA-(SO), IND AA-
A+, A+(SO), BWR A+, BWR A+(SO), A, BWR A(SO) A1+, A1+(SO), AAA, IND AAA Net Current Assets
Unrated BBB TREP & Term Deposits & Rev.Repo

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 3.00 years.
Kotak Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) NAV as on January 31, 2019: `20.0681 (Growth Option), `21.2139 (Direct Growth Option), `10.0114 (Weekly Dividend), `10.436 (Direct Weekly
Dividend), `10.316 (Monthly Dividend), `10.5446 (Direct Monthly Dividend), `10.8673 (Quarterly Dividend), `10.2554 (Direct Quarterly Dividend), `10.8116 (Annual Dividend), `15.9336 (Direct Annual Dividend).
$ With Effect from 1st June 2018, the Benchmark is changed to CRISIL AA Short Term Bond Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to CRISIL Composite AA Short Term Bond Index.
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

33
 Maturity
Short Medium Long Volatility
KOTAK MEDIUM TERM FUND Low

Med
An open-ended medium term debt scheme investing in instruments High
such that the macaulay duration of the portfolio is between 3 years and 4 years

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `4,250.41 crs Issuer/Instrument Industry/Rating % to Net Assets
AUM: `4,253.58 crs
Benchmark: NIFTY Medium Debt Instruments
Duration Debt Index $
Debentures and Bonds
Allotment date: March 21, 2014
Corporate Debt/Financial Institutions
Folio count: 17,089
Reliance Jio Infocomm Ltd. CRISIL AAA 6.33
Investment Objective Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) CARE AA(SO) 6.21
The investment objective of the scheme is to
Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) ICRA AA 5.57
generate regular income and capital
appreciation by investing in a portfolio of Aasan Corporate Solutions Pvt. Ltd. ( Guaranteed by a Piramal Group of
medium term debt and money market Company and Shree Krishna Trust ) ICRA AA-(SO) 4.12
instruments. There is no assurance or... Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 3.80
guarantee that the investment objective of
the scheme will be achieved. Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani
Enterprises & Adani Transmissions) BRICKWORK BWR AA-(SO) 2.92
Available Plans/Options
A) Regular Plan B) Direct Plan JAMNAGAR UTILITIES & POWER PRIVATE LIMITED ( Mukesh Ambani Group) CRISIL AAA 2.40
Options: Dividend Payout, Dividend.......... Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity
Reinvestment & Growth (applicable for all shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) BRICKWORK BWR A+(SO) 2.34
plans) Dewan Housing Finance Corporation Ltd. CARE AAA 2.32
Dividend Frequency Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) CRISIL AA(SO) 2.01
Quarterly (20th of Mar, Jun, Sep and Dec of Prestige Estates Projects Limited ICRA A+ 1.78
every Year), Annually (12th of March)
Shriram Transport Finance Co Ltd. CRISIL AA+ 1.74
Ratios Indian Hospitals Corporation Ltd ( Against Pledge of Apollo Hospital Shares) BRICKWORK BWR AA-(SO) 1.66
$
Standard Deviation 1.88% HPCL Mittal Energy Ltd. ICRA AA+ 1.52
Dalmia Cement (Bharat) Ltd ICRA AA 1.43
Modified Duration 2.26 yrs
Altico Capital India Pvt Ltd FITCH IND AA- 1.17
Portfolio Yield 10.16% Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) 1.17
Source: $ ICRAMFI Explorer. Standard S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and
Deviation is calculated on Annualised basis Company Private Limited) CARE AA(SO) 1.16
using 3 years history of monthly returns. Future Lifestyle Fashions Ltd. CRISIL AA- 1.15
Minimum Investment Amount Vizag General Cargo Berth Pvt. Ltd. ( backed by unconditional and
Initial Purchase: `5,000/- and in multiples of irrevocable guarantee of Vedanta Ltd ) CRISIL AA(SO) 1.15
1 for purchases and for `0.01 for switches. Essel Lucknow Raebareli Toll Roads Limited ( Funding against NHAI Annuity) CARE AAA 1.12
Additional Purchase: `1000 & in multiples
ECL Finance Ltd. ICRA AA 1.05
of `1.for purchases and for `0.01 for
switches. Igarashi Motors Sales Pvt. Ltd. ( backed by unconditional and irrevocable
Ideal Investment Horizon: 2.5 years & above undertaking by Axis Capital ) ICRA AAA(SO) 1.02
Load Structure YES Bank Ltd. ICRA AA- 0.97
Entry Load: Nil. (applicable for all plans) JAMNAGAR UTILITIES & POWER PRIVATE LIMITED ( Mukesh Ambani Group ) CRISIL AAA 0.94
Exit Load: a) For redemption / switch out of
LIC Housing Finance Ltd. CRISIL AAA 0.89
upto 15% of the initial investment amount
(limit) purchased or switched in within 18 Hinduja Leyland Finance Ltd. CRISIL AA- 0.81
months from the date of allotment: Nil. Muthoot Finance Ltd. CRISIL AA 0.57
b) If units redeemed or switched out are in Bharti Telecom Ltd. CRISIL AA+ 0.50
excess of the limit within 18 months from
the date of allotment: 2%. Grand View Estates Pvt. Ltd. ( backed by unconditional and irrevocable
c) If units are redeemed or switched out on guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AA-(SO) 0.47
or after 18 months from the date of ECL Finance Ltd. BRICKWORK BWR AA 0.42
allotment: Nil.
Jana Small Finance Bank Ltd. ICRA BBB 0.35
Total Expense Ratio** Asirvad Microfinance Private Limited ( ) CRISIL A+ 0.12
Regular:1.74%; Direct: 0.90%
Aarish Solar Power Ltd. ( Solar power generating SPV of Greenko Group
with offtaker as NTPC & secured by corporate guarantee of Greenko
Energies Pvt. Ltd. ) CARE AA-(SO) 0.11
Aashman Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group
Data as on January 31, 2019 with offtaker as NTPC & secured by corporate guarantee of Greenko
Energies Pvt. Ltd. ) CARE AA-(SO) 0.11
Product Label
Divyesh Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group
Riskometer
with offtaker as NTPC & secured by corporate guarantee of Greenko
Moderate Mo
t el y d Energies Pvt. Ltd. ) CARE AA-(SO) 0.11
era Higerat
odLow h e Elena Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko
M

ly

Group with offtaker as NTPC & secured by corporate guarantee of Greenko

Low

High

Energies Pvt. Ltd. ) CARE AA-(SO) 0.11

IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.11
LOW HIGH Pratyash Renewable Pvt. Ltd. ( Solar power generating SPV of Greenko
Investors understand that their principal will be at moderate risk
Group with offtaker as NTPC & secured by corporate guarantee of Greenko
This product is suitable for investors who are seeking*:
Income over a medium term investment horizon Energies Pvt. Ltd. ) CARE AA-(SO) 0.11
Investment in debt, government securities & money
market instruments with portfolio Macaulay duration SEI Baskara Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group
between 3 years & 4 years
* Investors should consult their financial advisors if in doubt
with offtaker as NTPC & secured by corporate guarantee of Greenko
about whether the product is suitable for them. Energies Pvt. Ltd. ) CARE AA-(SO) 0.11
SEI Enerstar Renewable Energy Pvt. Ltd. ( Solar power generating SPV of
Greenko Group with offtaker as NTPC & secured by corporate guarantee of

34
 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

PORTFOLIO
Issuer/Instrument Industry/Rating % to Net Assets

Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.11

SEI Mihir Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group
with offtaker as NTPC & secured by corporate guarantee of Greenko
Energies Pvt. Ltd. ) CARE AA-(SO) 0.11
Shreyas Renwable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko
Group with offtaker as NTPC & secured by corporate guarantee of Greenko
Energies Pvt. Ltd. ) CARE AA-(SO) 0.11
Zuvan Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with
offtaker as NTPC & secured by corporate guarantee of Greenko
Energies Pvt. Ltd. ) CARE AA-(SO) 0.11
Tata Sons Private Ltd. CRISIL AAA 0.07
The Indian Hotels Company Ltd. CARE AA+ 0.07
Vedanta Ltd. CRISIL AA 0.02
Corporate Debt/Financial Institutions - Total 62.55
Public Sector Undertakings
Punjab National Bank FITCH IND A+ 6.04
U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 5.47
Punjab & Sind Bank ICRA A+ 4.21
U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(SO) 3.99
PNB Housing Finance Ltd. FITCH IND AA+ 2.33
Syndicate Bank CARE A+ 2.03
Union Bank of India CARE AA- 1.88
Union Bank of India FITCH IND AA 1.58
U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA 1.26
Andhra Bank CARE A+ 1.08
United Bank Of India CRISIL AA- 0.56
State Bank Of India. CRISIL AAA 0.26
Punjab National Bank CARE AA- 0.23
Steel Authority of India Ltd. FITCH IND AA- 0.02
Public Sector Undertakings - Total 30.94
Government Dated Securities
1.44% Central Government SOV 0.38
Government Dated Securities - Total 0.38
Money Market Instruments
Commercial Paper(CP)/Certificate of Deposits(CD)
Corporate Debt/Financial Institutions
HDFC Ltd. CRISIL A1+ 2.20
Corporate Debt/Financial Institutions - Total 2.20
Net Current Assets/(Liabilities) 3.93
Grand Total 100.00

ALLOCATION (%)
93.49 3.93 2.20 0.38

Debentures and Bonds Net Current Assets Commercial Paper (CP)/Certi cate of Deposits (CD)
Government Dated Securities

RATING PROFILE (%)

1.17
51.12 21.84 21.59 3.93 0.35

AA+, IND AA+, AA, AA(SO), BWR AA, IND AA, IND AA(SO), AA-, AA-(SO), BWR AA-(SO), IND AA-
A1+, AAA, AAA(SO), SOV A+, A+(SO), BWR A+(SO), IND A+ Net Current Assets
Unrated BBB

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 3.49 years
Kotak Medium Term Fund NAV as on January 31, 2019: `15.0545 (Growth Option), `15.7328 (Direct Growth Option), `10.7237 (Quarterly Dividend), `10.7483 (Direct Quarterly Dividend), `11.0345 (Annual Dividend),
`15.7709 (Direct Annual Dividend).
$ With Effect from 1st June 2018, the Benchmark is changed to Nifty Medium Duration Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to NIFTY Medium Duration Debt Index.
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

35
 Maturity
Short Medium Long Volatility
KOTAK BOND Low
(Erstwhile Kotak Mahindra Bond Unit Scheme 99) Med
An open-ended medium term debt scheme investing in instruments such that the High
macaulay duration of the portfolio is between 4 years and 7 years

Fund Manager: Mr. Abhishek Bisen* PORTFOLIO

AAUM: `1,773.27 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `1,773.21 crs Assets Assets
Benchmark: NIFTY Medium to
Debt Instruments National Highways Authority
Long Duration Debt
Index $ Debentures and Bonds Of India CRISIL AAA 4.23
Allotment date: November 25, 1999 Corporate Debt/Financial Bank Of Baroda FITCH IND AAA 3.68
Folio count: 4,488 Institutions National Bank for Agriculture
Rent A Device Trust ( ) ICRA AAA(SO) 5.92 & Rural Development CRISIL AAA 2.72
Investment Objective
The investment objective of the Scheme is Mahindra & Mahindra Punjab National Bank FITCH IND A+ 2.28
to create a portfolio of debt instruments Financial Services Ltd. FITCH IND AAA 4.50 Power Finance Corporation Ltd. CRISIL AAA 1.37
such as bonds, debentures, Government Muthoot Finance Ltd. CRISIL AA 3.22 U P Power Corporation Ltd
Securities and money market instruments,
Indiabulls Housing Finance Ltd. CARE AAA 2.25 ( Guaranteed By UP State
including repos in permitted securities of
different maturities, so as to spread the risk Shriram Transport Government ) FITCH IND AA(SO) 1.19
across different kinds of issuers in the debt Finance Co Ltd. CRISIL AA+ 1.95 Canara Bank CRISIL AAA 0.93
markets. There is no assurance that the Small Industries Development
HDFC Ltd. CRISIL AAA 1.70
investment objective of the Scheme will be
achieved. JAMNAGAR UTILITIES & Bank Of India CARE AAA 0.06
POWER PRIVATE LIMITED Public Sector
Available Plans/Options
A) Regular Plan B) Direct Plan ( Mukesh Ambani Group) CRISIL AAA 1.11 Undertakings - Total 26.48
Options: Dividend Payout, Dividend Tata Sons Private Ltd. CRISIL AAA 0.83 Government Dated Securities
Reinvestment & Growth (applicable for all Reliance Jio Infocomm Ltd. CRISIL AAA 0.55 7.17% Central Government SOV 13.81
plans) Piramal Capital & Housing 7.32% Central Government SOV 2.26
Dividend Frequency Finance Ltd. ICRA AA+ 0.39 7.95% Central Government SOV 1.74
Quarterly (20th of Mar/Jun/Sep/Dec), Half Sikka Ports & Terminals Ltd. 8.22% State Government SOV 1.70
Yearly (20th of Mar/Sept), Annual (12th of
Mar) (applicable for all plans) ( Mukesh Ambani Group ) CRISIL AAA 0.28 1.44% Central Government SOV 0.61
Bajaj Finance Ltd. FITCH IND AAA 0.19 8.54 State Government SOV 0.20
Ratios
$
Hindalco Industries Ltd. CRISIL AA 0.02 Government Dated
Standard Deviation 3.11%
Corporate Debt/Financial Securities - Total 20.32
Modified Duration 3.02 yrs Institutions - Total 22.91 Reverse Repo 3.92
Public Sector Undertakings Triparty Repo 26.23
Portfolio Yield 8.10%
State Bank Of India. CRISIL AA+ 5.65 Net Current Assets/
Source: $ ICRAMFI Explorer. Standard Rural Electrification (Liabilities) 0.14
Deviation is calculated on Annualised basis
using 3 years history of monthly returns. Corporation Ltd. CRISIL AAA 4.37 Grand Total 100.00
Minimum Investment Amount
Initial Investment: `5000 and in multiple of ALLOCATION (%)
`1 for purchase and for `0.01 for switches
Additional Investment: `1000 & in multiples
of `1 49.39 30.15 20.32 0.14
Ideal Investments Horizon: 1 year & above
Load Structure
Entry Load: Nil. (applicable for all plans) Debentures and Bonds TREP & Term Deposits & Rev.Repo Government Dated Securities Net Current Assets
Exit Load: a) For redemptions/switch outs
(including SIP/STP) within 3 months from
the date of allotment of units: 0.20%
b) For redemptions/switch outs (including RATING PROFILE (%)
SIP/STP) after 3 months from the date of
allotment of units: Nil 2.28
Note: The aforesaid revised exit load 55.01 30.15 12.42 0.14
structure will be applicable only on a
prospective basis for Units purchased
/SIP/STP registered on or after February 22, AAA, AAA(SO), IND AAA, SOV TREP & Term Deposits & Rev.Repo AA+, AA, IND AA(SO)
2018.
IND A+ Net Current Assets
Total Expense Ratio**
Regular:1.82%; Direct: 0.76%
Data as on January 31, 2019
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderate risk
This product is suitable for investors who are seeking*:
Income over a long investment horizon
Investment in debt & money market securities with a
portfolio Macaulay duration between 4 years & 7
years.
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments :4.20 years.
Kotak Bond (Erstwhile Kotak Mahindra Bond Unit Scheme 99) NAV as on January 31, 2019: `49.4232 (Growth Option), `51.8448 (Direct Growth Option), `11.0522 (Quarterly Dividend), `14.0309 (Direct Quarterly
Dividend), `30.2799 (Annual Dividend), `22.8263 (Direct Annual Dividend)
$ With Effect from 1st June 2018, the Benchmark is changed to Nifty Medium to Long Duration Debt Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to NIFTY Medium to Long Duration
Debt Index.
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

36
 Maturity
Short Medium Long Volatility
KOTAK CORPORATE BOND FUND Low

Med
An open-ended debt scheme predominantly investing in AA+ and above rated corporate bonds High

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `981.85 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `973.54 crs Assets Assets
Benchmark: CRISIL Corporate
Bond Composite Debt Instruments National Bank for Agriculture
Index $ Debentures and Bonds & Rural Development CRISIL AAA 5.60
Corporate Debt/ Small Industries Development
Allotment date: September 21, 2007 Financial Institutions Bank Of India CARE AAA 3.30
Folio count: 4,599 SP Jammu Udhampur Power Finance Corporation Ltd. CRISIL AAA 2.44
Highway Ltd. ( backed by Power Grid Corporation of
Investment Objective unconditional and irrevocable India Ltd. CRISIL AAA 0.98
The investment objective of the scheme is to guarantee of Shapoorji Powergrid Vizag
generate income by investing in debt /and Pallonji & Co Pvt Ltd ) ICRA AAA 10.72 Transminssion Ltd. ( backed by
money market securities across the yield Rent A Device Trust ( ) ICRA AAA(SO) 7.52 unconditional and irrevocable
curve and predominantly in AA+ and above L & T Finance Ltd. FITCH IND AAA 7.28 guarantee by Powergrid Corp ) CRISIL AAA(SO) 0.68
rated corporate securities. The scheme Reliance Industries Ltd. CRISIL AAA 5.70 Canara Bank CRISIL AAA 0.49
would also seek to maintain reasonable Tata Capital Financial ONGC Manglore
liquidity within the fund. There is no Services Limited ICRA AAA 4.85 Petrochemicals Ltd. FITCH IND AAA 0.49
assurance or guarantee that the investment LIC Housing Finance Ltd. CARE AAA 3.89 Public Sector
objective of the scheme will be achieved. L & T Housing Finance Ltd. CARE AAA 2.29 Undertakings - Total 26.38
HDFC Ltd. CRISIL AAA 2.05 Money Market Instruments
Available Plans/Options Reliance Jio Infocomm Ltd. Commercial Paper(CP)/
A) Regular Plan B) Direct Plan ( Irrevocably and unconditionally Certificate of Deposits(CD)
guaranteed by Reliance Industries ) CRISIL AAA 1.46 Corporate Debt/
Options: Dividend Payout, Dividend......... Tata Sons Private Ltd. CRISIL AAA 1.25 Financial Institutions
Reinvestment & Growth (applicable for all East-North Interconnection IndusInd Bank Ltd. CRISIL A1+ 6.78
plans) Company Limited ( Operational Piramal Capital & Housing
Dividend Frequency power transmission project ) CRISIL AAA(SO) 0.97 Finance Ltd. CRISIL A1+ 4.64
Monthly (12th of every Month) Indiabulls Housing Finance Ltd. CARE AAA 0.97 Indiabulls Housing Finance Ltd. CRISIL A1+ 0.48
LIC Housing Finance Ltd. CRISIL AAA 0.97 Corporate Debt/
Ratios IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.49 Financial Institutions - Total 11.90
$ Bhopal Dhule Transmission Public Sector Undertakings
Standard Deviation 0.87% Company Ltd. ( Operational Small Industries
power transmission project ) CRISIL AAA 0.38 Development Bank Of India CARE A1+ 4.50
Modified Duration 0.97 yrs
Bajaj Finance Ltd. FITCH IND AAA 0.24 National Bank for Agriculture &
Corporate Debt/Financial Rural Development CRISIL A1+ 2.27
Portfolio Yield 8.54%
Institutions - Total 51.03 Public Sector
$
Source: ICRAMFI Explorer. Standard Public Sector Undertakings Undertakings - Total 6.77
PNB Housing Finance Ltd. FITCH IND AA+ 6.63 Triparty Repo 1.67
Deviation is calculated on Annualised basis
Rural Electrification Net Current Assets/
using 3 years history of monthly returns. Corporation Ltd. CRISIL AAA 5.77 (Liabilities) 2.25
Minimum Investment Amount Grand Total 100.00
Initial Investment: `5000 and in multiple of
`1 for purchase and for `0.01 for switches
Additional Investment: `1000 & in multiples ALLOCATION (%)
of `1for purchase and for `0.01 for
switches. 2.25
Ideal Investment Horizon: 1 Year & Above 77.41 18.67 1.67
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load: Nil. (applicable for all plans) Debentures and Bonds Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current Assets
Total Expense Ratio** TREP & Term Deposits & Rev.Repo
Regular: 0.58%; Direct: 0.31%

RATING PROFILE (%)

89.45 6.63 2.25 1.67

A1+, AAA, AAA(SO), IND AAA IND AA+ Net Current Assets TREP & Term Deposits & Rev.Repo

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderately low risk
This product is suitable for investors who are seeking*:
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.
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Aggregate value of investments by other schemes of Kotak Mahindra Mutual Fund as on 31 Jan 2019 is Rs.5364.2561 lacs
Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 1.08 years
Kotak Corporate Bond Fund NAV as on January 31, 2019: `2428.449 (Regular Plan-Growth Option), `1049.563 (Regular Plan-Monthly Dividend), `2482.968 (Direct Plan- Growth Option), `1103.28 (Direct Plan- Monthly
Dividend)
$ With Effect from 1st June 2018, the Benchmark is changed to CRISIL Corporate Bond Composite Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to CRISIL Corporate Bond Composite
Index.
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

37
 Maturity
Short Medium Long Volatility
KOTAK BANKING AND PSU DEBT FUND Low

Med
An open-ended debt scheme predominantly investing in debt instruments of banks, High
public sector undertakings, public financial institutions and municipal bonds

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `1,001.31 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `1,027.41 crs Assets Assets
Benchmark: CRISIL Banking and
PSU Debt Index $ Debt Instruments Public Sector
Debentures and Bonds Undertakings - Total 49.84
Allotment date: December 29,1998 Corporate Debt/ Government Dated Securities
Folio count: 2,125 Financial Institutions 7.17% Central Government SOV 4.77
AXIS Bank Ltd. CRISIL AA+ 11.34 8.88% State Government SOV 3.51
ICICI Bank Ltd. ICRA AA+ 4.74 7.37% Central Government SOV 2.94
Investment Objective Corporate Debt/Financial 8.39% State Government SOV 1.56
To generate income by predominantly Institutions - Total 16.08 8.74% State Government SOV 1.40
investing in debt & money market securities Public Sector Undertakings 8.71% State Government SOV 1.29
issued by Banks, Public Sector Undertaking State Bank Of India. CRISIL AAA 8.25 8.21% State Government SOV 0.20
(PSUs), Public Financial Institutions (PFI), Rural Electrification Government Dated
Corporation Ltd. CRISIL AAA 6.44 Securities - Total 15.67
Municipal Bonds and Reverse repos in such U P Power Corporation Ltd Money Market Instruments
securities, sovereign securities issued by the ( Guaranteed By UP State Commercial Paper(CP)/
Central Government & State Governments, Government ) FITCH IND AA(SO) 6.33 Certificate of Deposits(CD)
and / or any security unconditionally......... Power Finance Corporation Ltd. CRISIL AAA 5.39 Corporate Debt/
guaranteed by the Govt. of India. There is Bank Of Baroda FITCH IND AAA 5.31 Financial Institutions
Small Industries Development IndusInd Bank Ltd. CRISIL A1+ 5.90
no assurance that or guarantee that the Bank Of India CARE AAA 4.62 ICICI Bank Ltd. CRISIL A1+ 2.35
investment objective of the scheme will be Union Bank of India CRISIL AA+ 3.40 Corporate Debt/
achieved. National Bank for Agriculture & Financial Institutions - Total 8.25
Rural Development CRISIL AAA 2.44 Public Sector Undertakings
Available Plans/Options Power Finance Corporation Ltd. ( ) CRISIL AAA 2.42 Small Industries Development
A) Regular Plan B) Direct Plan Power Finance Corporation Ltd. ICRA AAA 1.94 Bank Of India CARE A1+ 4.51
Bank Of Baroda CARE AA+ 1.93 National Bank for Agriculture &
Options: Dividend Payout, Dividend Powergrid Vizag Transminssion Rural Development CRISIL A1+ 2.28
Reinvestment & Growth (applicable for all Ltd. ( backed by unconditional Public Sector
plans) and irrevocable guarantee by Undertakings - Total 6.79
Powergrid Corp ) CRISIL AAA(SO) 1.27 Triparty Repo 0.41
Dividend Frequency Power Grid Corporation Net Current Assets/
Monthly (12th of every Month) of India Ltd. CRISIL AAA 0.10 (Liabilities) 2.96
Grand Total 100.00
Ratios
$
Standard Deviation 1.96% ALLOCATION (%)
Modified Duration 2.23 yrs 2.96
65.92 15.67 15.04 0.41
Portfolio Yield 8.51%
Source: $ ICRAMFI Explorer. Standard
Deviation is calculated on Annualised basis Debentures and Bonds Government Dated Securities Commercial Paper (CP)/Certi cate of Deposits (CD)
using 3 years history of monthly returns. Net Current Assets TREP & Term Deposits & Rev.Repo
Minimum Investment Amount
Initial Investment: Dividend Payout,
Dividend Re-investment & Growth `5000 & RATING PROFILE (%)
above.
Additional Investment: `1000 & in multiples
2.96
of `1. 68.89 27.74 0.41
Ideal Investment Horizon: 1-3 months
Load Structure
Entry Load: Nil. (applicable for all plans) A1+, AAA, AAA(SO), IND AAA, SOV AA+, IND AA(SO) Net Current Assets TREP & Term Deposits & Rev.Repo
Exit Load: Nil (applicable for all plans)
Total Expense Ratio**
Regular:0.51%; Direct: 0.21%

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at low Moderately low risk
This product is suitable for investors who are seeking*:
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.
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments 2.89 years.
Kotak Banking And PSU Debt Fund NAV as on January 31, 2019: `41.4239 (Growth Option), `42.1009 (Direct Growth Option), `10.4842 (Monthly Dividend), `10.5866 (Direct Monthly Dividend)
$ With Effect from 1st June 2018, the Benchmark is changed to CRISIL Banking and PSU Debt Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to CRISIL Banking and PSU Debt Index.
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

38
 Maturity
Short Medium Long Volatility
KOTAK MAHINDRA GILT UNIT SCHEME Low
98 - INVESTMENT PLAN Med
An open-ended debt scheme investing in government securities across maturity High

Fund Manager: Mr. Abhishek Bisen* PORTFOLIO

AAUM: `430.18 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `426.69 crs Assets Assets
Benchmark: Nifty All Duration
Government Dated Securities 9.09% State Government SOV 0.36
G-Sec Index $
Allotment date: Regular Plan - Government Dated
December 29, 1998;
7.17% Central Government SOV 32.15 Securities - Total 58.63
PF & Trust Plan -
November 11, 2003 7.32% Central Government SOV 12.93 Triparty Repo 40.85
Folio count: 1,406 7.95% Central Government SOV 7.22 Net Current Assets/
Investment Objective 8.27% State Government SOV 3.08
The objective of the Plan is to generate risk-free (Liabilities) 0.52
returns through investments in sovereign 8.6% State Government SOV 1.21 Grand Total 100.00
securities issued by the Central Government...
and/or State Government(s) and/or any 8.88% State Government SOV 1.21
security unconditionally guaranteed by the
Government of India, and/or reverse repos in 7.86% State Government SOV 0.47
such securities as and when permitted by RBI. A
portion of the fund may be invested in Reverse
repo, CBLO and/or other similar instruments as
may be notified to meet the day-to-day ALLOCATION (%)
liquidity requirements of the Plan. To ensure
total safety of Unit holders' funds, the Plan
does not invest in any other securities such as 58.63 40.85 0.52
shares, debentures or bonds issued by any
other entity. The Fund will seek to underwrite
issuance of Government Securities if and to the
extent permitted by SEBI/RBI and subject to the TREP & Term Deposits & Rev.Repo
prevailing rules and regulations specified in this Government Dated Securities Net Current Assets
respect and may also participate in their
auction from time to time. Subject to the
maximum amount permitted from time to
time, the Plan may invest in securities abroad, RATING PROFILE (%)
in the manner allowed by SEBI/RBI in
conformity with the guidelines, rules and
regulations in this respect. There is no 58.63 40.85 0.52
assurance that the investment objective of the
Plan will be achieved. It is however...........
emphasized, that investments under the Plan
are made in Government Securities, where
there is no risk of default of payment in SOV TREP & Term Deposits & Rev.Repo Net Current Assets
principal or interest amount.
Available Plans/Options
A) Regular Non Direct Plan, Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 4.77 years.
B) PF & Trust Non Direct Plan, Kotak Mahindra Gilt Unit Scheme 98 - Investment Plan NAV as on January 31, 2019: `61.3347 (Regular-Growth), `65.1554 (Regular-Growth-Direct), `13.6668
C) Regular Direct Plan, (Quarterly-Dividend), `14.7148 (Quarterly-Dividend Direct), `62.7496 (PF & Trust-Growth), `66.7286 (PF & Trust-Growth Direct), `11.6031 (PF & Trust-Quarterly Dividend )
D) PF & Trust Direct Plan. $ With Effect from 1st June 2018, the Benchmark is changed to Nifty All Duration G-Sec Index from ISEC Composite Index. The above performance is benchmarked to Nifty
Options: Dividend Payout, Dividend......... All Duration G-Sec Index.
Reinvestment & Growth (applicable for all *For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59.
plans) For last three dividends, please refer page no 62-64.
Dividend Frequency
Quarterly (20th of Mar/Jun/Sep/Dec)
Ratios
$
Standard Deviation
A)Regular Plan 4.13%
B) PF & Trust Plan 4.13%
Modified Duration 3.40 yrs

Portfolio Yield 7.03%

$
Source: ICRAMFI Explorer. Standard Deviation
is calculated on Annualised basis using 3 years
history of monthly returns.
Minimum Investment Amount
Initial Investment: `5000 and in multiple of `1
for purchase and for `0.01 for switches
Additional Investment: `1000 & in multiples of `1
Ideal Investments Horizon: 1 year & above
Load Structure
Entry Load: (a) Regular Plan - Entry: Nil. (b) PF &
Trust Plan - Entry: Nil. (applicable for all plans)
Exit Load: (a) Regular Plan - Exit: Nil. (b)
PF&Trust Plan-Exit: Nil. (applicable for all plans)
Total Expense Ratio**
Regular:1.46%; Direct: 0.46%
Data as on January 31, 2019
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderate risk
This product is suitable for investors who are seeking*:
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
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

39
 Maturity
Short Medium Long Volatility
KOTAK DYNAMIC BOND FUND Low
(Erstwhile Kotak Flexi Debt Scheme) Med
An open-ended dynamic debt scheme investing across duration High

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `540.80 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `543.56 crs Assets Assets
Benchmark: Nifty Composite Debt
Index $ Debt Instruments Export-Import Bank of India CRISIL AAA 0.18
Allotment date: May 26, 2008 Debentures and Bonds Public Sector
Folio count: 4,578 Corporate Debt/ Undertakings - Total 27.02
Financial Institutions Government Dated
Investment Objective LIC Housing Finance Ltd. CRISIL AAA 9.35 Securities
The investment objective of the Scheme is ICICI Bank Ltd. CARE AA+ 4.53 7.17% Central Government SOV 22.53
to maximise returns through an active
Reliance Jio Infocomm Ltd. CRISIL AAA 4.44 8.27% State Government SOV 5.57
management of a portfolio of debt and
money market securities. There is no Sikka Ports & Terminals Ltd. 8.26% State Government SOV 4.65
assurance or guarantee that the investment ( Mukesh Ambani Group ) CRISIL AAA 2.70 8.45% State Government SOV 3.97
objective of the scheme will be achieved. HDFC Ltd. CRISIL AAA 0.36 1.44% Central Government SOV 2.96
Available Plans/Options SP Jammu Udhampur Government Dated
A)Regular Plan B)Direct Plan Highway Ltd. ( backed by Securities - Total 39.68
Options: Dividend Payout, Dividend.......... unconditional and irrevocable Money Market Instruments
Reinvestment & Growth guarantee of Shapoorji Commercial Paper(CP)/
(applicable for all plans) Pallonji & Co Pvt Ltd ) ICRA AAA 0.27 Certificate of Deposits(CD)
Dividend Frequency Corporate Debt/Financial Public Sector Undertakings
Monthly Dividend Payout & Reinvestment Institutions - Total 21.65 Small Industries Development
(12th of every Month) (w.e.f June 1, 2017), Public Sector Undertakings Bank Of India CARE A1+ 8.53
Quarterly Dividend Payout and
Reinvestment (20th of March, June, Bank Of Baroda CRISIL AA+ 7.92 Public Sector
September and December of every year) Power Finance Corporation Ltd. CRISIL AAA 4.76 Undertakings - Total 8.53
(applicable for all plans) National Bank for Agriculture & Triparty Repo 8.85
Ratios Rural Development CRISIL AAA 4.63 Net Current Assets/
$
Bank Of Baroda CARE AA 3.59 (Liabilities) -5.73
Standard Deviation 2.27%
Union Bank of India FITCH IND AA 3.18 Grand Total 100.00
Modified Duration 3.43 yrs State Bank Of India. CRISIL AA+ 2.76

Portfolio Yield 8.37%

ALLOCATION (%)
Source: $ ICRAMFI Explorer. Standard
Deviation is calculated on Annualised basis
- 5.73 48.67 39.68 8.85 8.53
using 3 years history of monthly returns.
Minimum Investment Amount
Initial Investment: `5000 and in multiple of
Debentures and Bonds Government Dated Securities TREP & Term Deposits & Rev.Repo
`1 for purchase and for `0.01 for switches
Additional Investment: `1000 & in Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current Assets
multiples of `1
Ideal Investment Horizon: 6 months &
above
RATING PROFILE (%)
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load: Nil - 5.73 74.90 21.98 8.85

Total Expense Ratio**

Regular:1.05%; Direct:0.40%
A1+, AAA, SOV AA+, AA, IND AA TREP & Term Deposits & Rev.Repo Net Current Assets

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderately low risk
This product is suitable for investors who are seeking*:
Income over a medium term investment horizon
Investment in debt & money market securities across
durations.
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 4.48 years
Kotak Dynamic Bond Fund (Erstwhile Kotak Flexi Debt Scheme) NAV as on January 31, 2019: `23.7021 (Growth Option), `24.5904 (Direct Growth Option), `11.0584 (Quarterly Dividend), `10.8563 (Direct Quarterly
Dividend), `21.8269 (Regular Monthly Dividend), `22.4874 (Direct Monthly Dividend)
$ With Effect from 1st June 2018, the Benchmark is changed to Nifty Composite Debt Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to Nifty Composite Debt Index.
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

40
 Maturity
Short Medium Long Volatility
KOTAK OVERNIGHT FUND Low

Med
An open ended debt scheme investing in overnight securities High

Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: 725.57
Issuer/Instrument Industry/Rating % to Net
AUM: 1,075.87
Assets
Benchmark: NIFTY 1D Rate index
Triparty Repo 99.18%
Allotment date: January 15, 2019
Grand Total 100%
Folio count: 27

Investment Objective
The primary objective of the Scheme is to
generate income through investment in ALLOCATION (%)
debt & money market instruments having
maturity of one business day (including
CBLO (Tri-Party Repo), Reverse Repo and 99.18 0.82
equivalent). However, there is no
assurance or guarantee that the
investment objective of the scheme will be
TREP & Term Deposits & Rev.Repo Net Current Assets
achieved.
Available Plans/Options
A)Regular Plan B)Direct Plan
Dividend Frequency
RATING PROFILE (%)
Daily, Weekly (Every Monday) (applicable
for all plans) 99.18 0.82
Source: ICRA MFI Explorer
Ratios
TREP & Term Deposits & Rev.Repo Net Current Assets
Portfolio Yield 6.37%

Minimum Investment Amount

Initial Investment: `5000 and in multiple of
`1 for purchase and for `0.01 for switches
Additional Investment: `1000 & in
multiples of `1 for purchase and for 0.01
for switches
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load: Nil. (applicable for all plans)
Total Expense Ratio**
Regular:0.20%; Direct:0.15%

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at low risk
This product is suitable for investors who are seeking*:
Income over a short term investment horizon
Investment in debt & money market securities having
maturity of one business day.
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0 years
Kotak Overnight Fund NAV as on January 31, 2019: `1002.906 (Growth Option), `1002.929 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

41
 Details of exposure across all Debt Funds of Kotak Mahindra Mutual Fund as on January 31, 2019
Issuer Name %age of Exposure to Debt AUM $
AU Small Finance Bank Ltd. 0.26
AXIS Bank Ltd. 3.58
AXIS Finance Ltd. 0.31
Aarish Solar Power Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee
of Greenko Energies Pvt. Ltd. ) 0.02
Aasan Corporate Solutions Pvt. Ltd. ( Guaranteed by a Piramal Group of Company and Shree Krishna Trust ) 0.78
Aashman Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate
guarantee of Greenko Energies Pvt. Ltd. ) 0.02
Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions ) 0.49
Aditya Birla Finance Ltd. 0.86
Altico Capital India Pvt Ltd 0.11
Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) 0.11
Andhra Bank 0.51
Asirvad Microfinance Private Limited ( ) 0.04
Aspire Home Finance Corporation Ltd 0.08
Avendus Finance Pvt Ltd. 0.11
Bahadur Chand Investments Private Limited 0.33
Bajaj Capital Ventures Pvt. Ltd. ( Secured by Equity shares of Bajaj Corp. Ltd ) 0.08
Bajaj Consumer Care Limited 0.03
Bajaj Finance Ltd. 2.54
Bajaj Housing Finance Ltd. 0.35
Bank Of Baroda 0.33
Bharti Airtel Ltd. 0.28
Bharti Telecom Ltd. 0.18
Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) 0.20
Birla Corporation Ltd. 0.04
Canara Bank 0.11
Central Government 3.35
Chambal Fertilisers & Chemicals Ltd. 0.22
Cholamandalam Investment and Finance Company Ltd. 0.47
Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) 0.61
Dalmia Cement (Bharat) Ltd 0.16
Dewan Housing Finance Corporation Ltd. 0.36
Divyesh Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate
guarantee of Greenko Energies Pvt. Ltd. ) 0.02
ECL Finance Ltd. 0.40
East-North Interconnection Company Limited ( Operational power transmission project ) 0.03
Edelweiss Agri Value Chain Ltd. ( Unconditional and irrevocable guarantee from Edelweiss Financial Services Limited) 0.32
Edelweiss Commodities Services Ltd. 0.20
Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) 0.56
Edelweiss Housing Finance Limited 0.22
Edisons Utility Works Pvt.Ltd. ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) 0.15
Elena Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by
corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02
Endurance Technologies Ltd 0.11
Essel Lucknow Raebareli Toll Roads Limited ( Funding against NHAI Annuity) 0.05
Export-Import Bank of India 0.02
Fullerton India Credit Co. Ltd. 0.22
Future Lifestyle Fashions Ltd. 0.11
Godrej Properties Limited 0.11
Grand View Estates Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.33
Green Infra Wind Energy Ltd. 0.11
Gruh Finance Ltd. 0.32
HDB Financial Services Ltd. 0.73
HDFC Bank Ltd. 0.14
HDFC Ltd. 3.48
HPCL Mittal Energy Ltd. 0.46
Hero FinCorp Ltd. 0.11
High Point Properties Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) 0.09
Hindalco Industries Ltd. 0.00
Hinduja Leyland Finance Ltd. 0.22
Hindustan Zinc Ltd. 1.11
ICICI Bank Ltd. 0.41
IDFC Bank Limited 2.42
IIFL Home Finance Ltd. 0.54
IL & FS Transportation Networks Ltd. ( Parent agreement in relation to the payment and procurement obligations
of the parent IL & fs Ltd. ) 0.05
Incred Financial Services Private Limited 0.11
IOT Utkal Energy Services Ltd. 0.04
Igarashi Motors Sales Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by Axis Capital ) 0.05
India Infoline Finance Limited 0.32
Indiabulls Housing Finance Ltd. 1.25
Indian Hospitals Corporation Ltd ( Against Pledge of Apollo Hospital Shares) 0.18
Indian Railway Finance Corporation Ltd. 0.09
Indostar Capital Finance Limited 0.33
IndusInd Bank Ltd. 1.83
Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) 0.30
JM Financial Credit Solutions Ltd. 0.03
JM Financial Products Limited 0.27
JSW Techno Projects Management Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) 0.23
Jana Small Finance Bank Ltd. 0.06
Jyothy Fbricare Services Ltd. ( Guaranteed By Jyothi Laboratories Ltd ) 0.07
Konkan Railway Corporation Ltd. 0.02
Konti Infrapower & Multiventures Pvt. Ltd. ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) 0.30
Kotak Mahindra Investments Ltd. 0.03
Kotak Mahindra Prime Ltd. 0.44
L & T Finance Ltd. 0.60
L & T Housing Finance Ltd. 0.14
L & T Infrastructure Finance Company Ltd. 0.97
LIC Housing Finance Ltd. 2.73
M.J. Pharmaceuticals Pvt. Ltd. (Secured by Equity shares of Sun Pharmaceuticals Industries Ltd.) 0.16
MA Multi Trade Pvt Ltd ( Secured by Equity shares of Bajaj Corp. Ltd ) 0.08
Mahindra & Mahindra Financial Services Ltd. 1.66

42
Issuer Name %age of Exposure to Debt AUM $
Manappuram Finance Ltd. 0.72
Muthoot Finance Ltd. 1.19
Muthoot Fincorp Ltd. 0.22
NHPC Ltd. 0.01
Nabha Power Ltd. ( Guarantee by Larsen & Toubro Ltd ) 1.41
National Bank for Agriculture & Rural Development 2.18
National Highways Authority Of India 0.16
National Thermal Power Corporation Ltd. 0.96
Nayara Energy Limited 0.11
Nirma Ltd. 0.07
Nuvoco Vistas Corporation Ltd. ( 100% subsidiary of Nirma Ltd.) 0.16
ONGC Manglore Petrochemicals Ltd. 0.49
Oriental Bank of Commerce 0.55
PNB Housing Finance Ltd. 0.56
Piramal Capital & Housing Finance Ltd. 1.51
Piramal Enterprises Ltd. 0.37
Power Finance Corporation Ltd. 4.55
Power Grid Corporation of India Ltd. 0.13
Powergrid Vizag Transminssion Ltd. ( backed by unconditional and irrevocable guarantee by Powergrid Corp ) 0.02
Pratyash Renewable Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by
corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02
Prestige Estates Projects Limited 0.17
Punjab & Sind Bank 0.45
Punjab National Bank 2.00
RBL Bank Ltd. 0.19
Reliable Devices Trust (Underlying customer - Reliance Retail ) 1.13
Reliance Industries Ltd. 0.63
Reliance Jio Infocomm Ltd. 2.69
Reliance Jio Infocomm Ltd. ( Irrevocably and unconditionally guaranteed by Reliance Industries ) 0.13
Reliance Retail Limited 0.33
Rent A Device Trust (Underlying customer - Reliance Retail ) 0.93
Rural Electrification Corporation Ltd. 2.43
S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) 0.63
SEI Baskara Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by
corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02
SEI Enerstar Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by
corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02
SEI Mihir Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate
guarantee of Greenko Energies Pvt. Ltd. ) 0.02
SP Jammu Udhampur Highway Ltd. (Funding against NHAI Annuity) 0.20
Sahyadri Agencies Ltd ( Secured by Equity shares of Jyothy Laboratories Ltd. ) 0.08
Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) 0.50
Shapoorji Pallonji Energy Gujarat Pvt. Ltd. (DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) 0.07
Shreyas Renwable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by
corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02
Shriram City Union Finance Ltd. 0.59
Shriram Transport Finance Co Ltd. 1.41
Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) 0.25
Small Industries Development Bank Of India 1.42
State Bank Of India. 0.52
State Government 4.77
Steel Authority of India Ltd. 0.56
Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity shares of Future Ratails Ltd & Future Lifestyle
Fashions Ltd. ) 0.33
Sundaram BNP Paribas Home Finance Ltd 0.01
Sundaram Finance Ltd. 0.32
Suraksha Realty Ltd. ( Secured by Equity shares of Sun Pharmaceuticals Industries Ltd ) 0.88
Syndicate Bank 0.33
TREP/REVERSE REPO 12.03
Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) 0.42
Tata Capital Financial Services Limited 0.87
Tata Capital Housing Finance Ltd. 0.09
Tata Communication Payment Solutions Ltd. 0.06
Tata Motors Finance Ltd. 0.46
Tata Motors Finance Solutions Ltd. 0.33
Tata Motors Ltd. 0.67
Tata Sons Private Ltd. 0.55
Tata Steel Ltd. 0.01
The Indian Hotels Company Ltd. 0.01
U P Power Corporation Ltd ( Guaranteed By UP State Government ) 1.85
Union Bank of India 0.44
United Bank Of India 0.13
Utkarsh Small Finance Bank Ltd. 0.11
Vedanta Ltd. 0.06
Vijaya Bank 0.00
Vizag General Cargo Berth Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Vedanta Ltd ) 0.05
YES Bank Ltd. 0.15
Zuvan Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by
corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02
Total 100.00

Industry / Sector %age of Exposure to Debt AUM $

BANK 14.52
CASH (TREP/REVERSE REPO) 12.03
CORPORATES 24.85
FINANCIAL SERVICES 23.83
GOI/TBILLS 8.11
NBFC 16.38
REAL ESTATE 0.28
Total 100.00

43
 Maturity For Debt: Investment style For Equity:
Short Medium Long Volatility Value Blend Growth Size
KOTAK ASSET ALLOCATOR Low Large

FUND Medium Mid

An open-ended fund of fund scheme investing in specified High Small
open-ended equity, and debt schemes of Kotak Mahindra Mutual Fund

Fund Manager: Mr. Deepak Gupta* PORTFOLIO

AAUM: `36.40 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `36.67 crs Assets Assets
Benchmark: NIFTY 50 Hybrid
Equity & Equity related Kotak Mahindra
Composite Debt
Mutual Fund Units Liquid Scheme
50:50 Index $
Kotak Savings Fund Direct Plan Growth Debt Scheme 1.61
Allotment date: August 9, 2004 Direct Growth Debt Scheme 67.51 Mutual Fund Units - Total 96.31
Folio count: 2,472 Kotak Bond Triparty Repo 3.27
Direct Plan Growth Debt Scheme 17.95 Net Current Assets/
Investment Objective Kotak Standard (Liabilities) 0.42
To generate long-term capital appreciation Multicap Fund Direct Growth Equity Scheme 9.24 Grand Total 100.00
from a portfolio created by investing in
specified open-ended equity, and debt
schemes of Kotak Mahindra Mutual Fund. SECTOR ALLOCATION (%)
However, there is no assurance that the
investment objective of the Scheme will be
realized. 96.31 3.27 0.42
Available Plans/Options
A) Regular Plan B) Direct Plan
Options: Dividend Payout, Unrated TREP & Term Deposits & Rev.Repo Net Current Assets
Dividend Reinvestment &
Growth (applicable for all plans)
Dividend Frequency
Trustee s Discretion
Minimum Investment Amount
Initial Investment: `5000 and in multiple of
`1 for purchase and for `0.01 for switches
Additional Investment: `1000 & in multiples
of `1
Ideal Investment Horizon: 3 years & above
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load: a) 1% if exit before 1 year from
date of allotment.
b) Nil if exit after 1 year from the date of
allotment.
Exit Load shall be applicable incase of switch
from Regular Plan (where broker code is
mentioned) to Direct Plan
Exit Load shall not be applicable:
Incase of switch from Regular Plan (where
no broker code is mentioned) to Direct Plan
In case of switch from Direct Plan to Regular
Plan.
Total Expense Ratio**
Regular:2.01%; Direct: 1.16%

Data as on January 31, 2019

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderately high risk
This product is suitable for investors who are seeking*:
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.

Kotak Asset Allocator Fund NAV as on January 31, 2019: `76.744 (Dividend Option), `79.705 (Direct Dividend Option), `78.841 (Growth Option), `81.165 (Direct Growth Option)
$ with the Effect from 1st June 2018, The Benchmark is Changed to NIFTY 50 Hybrid Composite Debt 50:50 Index from Crisil Hybrid 35+65 Aggressive Index
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

44
 Investment style
Value Blend Growth Size
KOTAK US EQUITY FUND Large
Mid
An open-ended fund of funds scheme investing in units of funds that invests Small
predominantly in companies having assets, products or operations in united states

Fund Manager: Mr. Deepak Gupta* PORTFOLIO

AAUM: `8.49 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `8.83 crs Assets Assets
Benchmark: Standard & Poor's
500 Total Return Net Equity & Equity related Mutual Fund Units - Total 96.19
Index in USD is the Mutual Fund Units Triparty Repo 9.09
benchmark of the
underlying scheme. Pinebridge US Large Cap Net Current Assets/(Liabilities) -5.28
The same converted
Research Enhance Fund Overseas Mutual Fund 96.19 Grand Total 100.00
into INR using RBI
reference rate will be
the benchmark for
the scheme.
SECTOR ALLOCATION (%)
Allotment date: December 20, 2013
Folio count: 1,508 -5.28 96.19 9.09

Investment Objective
The primary investment objective of the
scheme is to provide long term capital Overseas Mutual Fund TREP & Term Deposits & Rev.Repo Net Current Assets
appreciation by investing in units of a fund
that invests predominantly in equity and
equity-related securities of companies
having assets, products or operations in the
United States. However, there is no
assurance that the objective of the scheme
will be realized.
Available Plans/Options
A) Regular Plan B) Direct Plan
Options: Dividend Payout,
Dividend Reinvestment &
Growth (applicable for all plans)
Dividend Frequency
Trustee s Discretion
Minimum Investment Amount
Initial Investment: `5000 and in multiple of
`1 for purchase and for `0.01 for switches
Additional Investment: `1000 & in multiples
of `1
Ideal Investment Horizon: 3 years & above
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load: a) For redemptions / switch outs
(including SIP/STP) within 1 year from the
date of allotment of units: 1%;
b) For redemptions / switch outs (including
SIP/STP) after 1 year from the date of
Allotment of units: NIL.
Total Expense Ratio**
Regular:1.50%; Direct: 0.90%

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at high risk
This product is suitable for investors who are seeking*:
Long term capital growth
Long term capital appreciation by investing in Units of
PineBridge US Large Cap Research Enhanced Fund which
in turn invests in equity and equity related securities of
companies having assets, products or operations in the
United States.
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak US Equity Fund NAV as on January 31, 2019: `15.915 (Dividend Option), `16.551 (Direct Dividend Option), `15.916 (Growth Option), `16.551 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59.

45
 Investment style
Value Blend Growth Size
KOTAK GLOBAL EMERGING MARKET FUND Large
Mid
An open-ended fund of fund scheme investing in overseas mutual fund Small
schemes investing in global emerging markets

Fund Manager: Mr. Deepak Gupta PORTFOLIO

(Dedicated fund
manager for Fund Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
Managers overseas Assets Assets
investment w.e.f.
Equity & Equity related Markets ETF Overseas Mutual Fund 25.45
January 24, 2019)
AAUM: `30.22 crs Mutual Fund Units Mutual Fund Units - Total 96.74
AUM: `31.19 crs MGF Asian Small Triparty Repo 1.62
Benchmark: MSCI Emerging Equity Fund Class I Overseas Mutual Fund 71.29 Net Current Assets/(Liabilities) 1.64
Market ishares MSCI Emerging Grand Total 100.00
Allotment date: September 26, 2007
Folio count: 7,405
SECTOR ALLOCATION (%)
Investment Objective
The investment objective of the scheme is to
provide long-term capital appreciation by 96.74 1.64 1.62
investing in an overseas mutual fund
scheme that invests in a diversified portfolio
of securities as prescribed by SEBI from time Overseas Mutual Fund Net Current Assets TREP & Term Deposits & Rev.Repo
to time in global emerging markets.
However, there is no assurance or
guarantee that the investment objective of
the scheme will be achieved.
Available Plans/Options
A) Regular Plan B) Direct Plan
Options: Dividend Payout,
Dividend Reinvestment &
Growth (applicable for all plans)
Dividend Frequency
Trustee s Discretion
Minimum Investment Amount
Initial Investment: `5000 and in multiple of
`1 for purchase and for `0.01 for switches
Additional Investment: `1000 & in multiples
of `1
Ideal Investment Horizon: 3 years & above
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load: a) For exit within 1 year from the
date of allotment of units: 1%.
b) For exit after 1 year from the date of
Allotment of units: Nil
Total Expense Ratio**
Regular:1.82%; Direct: 1.34%

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at high risk
This product is suitable for investors who are seeking*:
Long term capital growth
Investment in overseas mutual fund schemes that invest
in a diversified portfolio of securities in global emerging
markets
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak Global Emerging Market Fund NAV as on January 31, 2019: `15.009 (Dividend Option), `15.8 (Direct Dividend Option), `15.009 (Growth Option), `15.732 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59.

46
 Investment style
Value Blend Growth Size
KOTAK WORLD GOLD FUND Large
Mid
An open-ended fund of fund scheme investing in predominantly in units of Small
falcon gold equity fund or in other similar overseas mutual fund schemes

Fund Manager: Mr. Deepak Gupta PORTFOLIO

AAUM: `31.46 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `33.93 crs Assets Assets
Benchmark: Financial Times Gold
Mines Total Price Index, Equity & Equity related Mutual Fund Units - Total 99.87
in USD is the Mutual Fund Units Triparty Repo 1.50
benchmark of Falcon Net Current Assets/(Liabilities) -1.37
INVESTEC GLOBAL
Gold Equity Fund. The
above translated to INR GOLD I ACC Overseas Mutual Fund 99.87 Grand Total 100.00
using the RBI Reference
Rate will be the
benchmark of Kotak
World Gold Fund. SECTOR ALLOCATION (%)
Allotment date: June 06, 2008
-1.37 99.87 1.50
Folio count: 11,646

Investment Objective
The primary investment objective of the
Scheme is to provide long term capital Overseas Mutual Fund TREP & Term Deposits & Rev.Repo Net Current Assets
appreciation by investing predominantly in
units of Falcon Gold Equity Fund. The
Scheme may, at the discretion of the
Investment Manager, also invest in the units
of other similar overseas mutual fund
schemes. The Scheme may also invest a
certain portion of its corpus in debt and
money market securities and/or units of
debt/liquid schemes of Mutual Funds, in
order to meet liquidity requirements from
time to time. However, there is no assurance
that the objective of the scheme will be
realized.
Available Plans/Options
A) Regular Plan B) Direct Plan
Options: Dividend Payout,
Dividend Reinvestment &
Growth (applicable for all plans)
Dividend Frequency
Trustee s Discretion
Minimum Investment Amount
Initial Investment: `5000 and in multiple of
`1 for purchase and for `0.01 for switches
Additional Investment: `1000 & in multiples
of `1
Ideal Investment Horizon: 3 years & above
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load:
a) For redemptions / switch outs (including
SIP/STP) within 1 year from the date of
allotment of units: 1%;
b) For redemptions / switch outs (including
SIP/STP) after 1 year from the date of
Allotment of units: NIL;
Total Expense Ratio**
Regular: 1.71%; Direct: 1.21%

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at high risk

This product is suitable for investors who are seeking*:

Long term capital growth
Long term capital appreciation by investing in units of
Falcon Gold Equity Fund which in turn invests in
international securities of gold production, processing
and marketing companies
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak World Gold Fund NAV as on January 31, 2019: `7.028 (Dividend Option), `7.355 (Direct Dividend Option), `8.48 (Growth Option), `8.852 (Direct Growth Option)
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59.

47
 KOTAK GOLD ETF
An open-ended scheme replicating/ tracking physical gold prices

Fund Manager: Mr. Abhishek Bisen* PORTFOLIO

AAUM: `371.01 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `378.73 crs Assets Assets
Benchmark: Price of Gold $
Gold Related - Total 99.67
Allotment date: July 27, 2007
Net Current Assets/(Liabilities) 0.33
Folio count: 36,488
Gold 1 Kg Fineness 0.995 GOVERNMENT 99.67 Grand Total 100.00
Investment Objective
Equity & Equity
The investment objective of the scheme is
to generate returns that are in line with the
returns on investment in physical gold, Tracking Error: 0.06%
subject to tracking errors.
Available Plan SECTOR ALLOCATION (%)
Regular Plan
Minimum Investment Amount 99.67 0.33
Through Exchange:10 Units,
Through AMC: 10000 Units,
Ideal Investment Horizon: 3 years and.......
above
Gold Net Current Assets
Load Structure
Entry Load: Nil. (applicable for all plans)
Exit Load: Nil (applicable for all plans)
Total Expense Ratio**
Regular: 1.00%

Data as on January 31, 2019

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderately high risk
This product is suitable for investors who are seeking*:
Returns in line with physical gold over medium to long
term, subject to tracking error
Investment in physical gold
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak Gold ETF NAV as on January 31, 2019: `294.4528

$ With Effect from 25th May 2018, the Benchmark is renamed to Price of Gold, based on the formula prescribed by SEBI as per Gazette Notification dated December 20, 2006.
*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59.

7
48
 KOTAK NIFTY ETF
An open-ended scheme replicating/ tracking nifty 50 index

Fund Manager: Mr. Deepak Gupta* PORTFOLIO

AAUM: `630.43 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `638.81 crs Assets Assets
Benchmark: Nifty 50
Equity & Equity related Ultratech Cement Ltd. Cement 0.85
Allotment date: February 2, 2010 HDFC Bank Ltd. Banks 10.30 Vedanta Ltd. Non - Ferrous Metals 0.85
Folio count: 8,015 Reliance Industries Ltd. Petroleum Products 9.69 Tata Steel Limited. Ferrous Metals 0.83
HDFC Ltd. Finance 7.31 Yes Bank Ltd Banks 0.83
Infosys Ltd. Software 6.57 Bajaj Auto Ltd. Auto 0.80
Investment Objective Hero MotoCorp Ltd. Auto 0.78
ITC Ltd. Consumer Non Durables 5.51
The investment objective of the scheme is ICICI Bank Ltd. Banks 5.41 Indian Oil Corporation Ltd Petroleum Products 0.77
to provide returns before expenses that Tata Consultancy Dr Reddys Laboratories Ltd Pharmaceuticals 0.76
closely correspond to the total returns of Services Ltd. Software 4.88 Tata Motors Ltd. Auto 0.76
the Nifty 50 subject to tracking errors. Kotak Mahindra Bank Ltd. Banks 3.87 Hindalco Industries Ltd Non - Ferrous Metals 0.70
However, there is no assurance or Larsen And Toubro Ltd. Construction Project 3.74 GAIL (India) Ltd. Gas 0.69
guarantee that the investment objective of Axis Bank Ltd Banks 2.96 UPL Ltd Pesticides 0.67
the scheme will be achieved. Hindustan Unilever Ltd. Consumer Non Durables 2.90 Grasim Industries Ltd. Cement 0.66
State Bank Of India Banks 2.54 Bharat Petroleum
Available Plan Maruti Suzuki India Limited Auto 2.04 Corporation Ltd. Petroleum Products 0.64
Regular Plan IndusInd Bank Ltd. Banks 1.78 JSW Steel Ltd. Ferrous Metals 0.64
Ratios Asian Paints Ltd. Consumer Non Durables 1.47 Adani Port and Special
Mahindra & Mahindra Ltd. Auto 1.46 Economic Zone Limited Transportation 0.61
Bajaj Finance Limited Finance 1.41 Cipla Ltd. Pharmaceuticals 0.61
Portfolio Turnover: 45.90%
HCL Technologies Ltd. Software 1.29 Eicher Motors Ltd Auto 0.61
National Thermal Power Bharti Infratel Ltd. Telecom - Equipment &
Tracking Error: 0.07% Corporation Limited Power 1.09 Accessories 0.57
Sun Pharmaceuticals Indiabulls Housing
Minimum Investment Amount Industries Ltd. Pharmaceuticals 1.08 Finance Ltd. Finance 0.51
Through Exchange:1 Unit, Tech Mahindra Ltd. Software 1.06 Zee Entertainment
Through AMC: 50000 Units, Oil & Natural Gas Enterprises Ltd Media and Entertainment 0.49
Ideal Investment Horizon: 3 years and Corporation Ltd. Oil 1.00 Hindustan Petroleum
above Power Grid Corporation Corporation Ltd Petroleum Products 0.40
Load Structure Of India Ltd Power 1.00 Equity & Equity
Titan Company Ltd. Consumer Durables 0.96 Related - Total 99.96
Entry Load: Nil. (applicable for all plans)
Wipro Ltd. Software 0.96 Net Current Assets/
Exit Load: Nil (applicable for all plans) Bharti Airtel Ltd. Telecom - Services 0.93 (Liabilities) 0.04
Total Expense Ratio** Coal India Ltd. Minerals/Mining 0.87 Grand Total 100.00
Regular: 0.10% Bajaj Finserv Ltd. Finance 0.85

SECTOR ALLOCATION (%)

2.45 1.55
27.69 14.76 11.50 10.08 9.88 6.45 3.74 2.09 9.81

Banks Software Petroleum Products Finance Consumer Non Durables Auto

Construction Project Pharmaceuticals Power Non - Ferrous Metals REST

Data as on January 31, 2019

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderately high risk
This product is suitable for investors who are seeking*:
Long term capital growth
Investment in stocks comprising the underlying index
and endeavours to track the benchmark index
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak Nifty ETF NAV as on January 31, 2019: `111.0207

*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

7
49
 KOTAK SENSEX ETF
An open-ended scheme replicating/ tracking S&P BSE sensex index

Fund Manager: Mr. Deepak Gupta* PORTFOLIO

AAUM: `11.87 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `11.94 crs Assets Assets
Benchmark: S&P BSE Sensex
Equity & Equity related Industries Ltd. Pharmaceuticals 1.25
Allotment date: June 6, 2008
Folio count: 1,166 HDFC Bank Ltd. Banks 12.13 National Thermal Power
Reliance Industries Ltd. Petroleum Products 10.76 Corporation Limited Power 1.19
Investment Objective
The investment objective of the scheme is HDFC Ltd. Finance 8.97 Power Grid Corporation Of
to provide returns before expenses that Infosys Ltd. Software 7.73 India Ltd Power 1.18
closely correspond to the total returns of
the BSE SENSEX subject to tracking errors. ITC Ltd. Consumer Non Durables 6.45 Bharti Airtel Ltd. Telecom - Services 1.10
However, there is no assurance or.......... ICICI Bank Ltd. Banks 6.34 Oil & Natural Gas
guarantee that the investment objective of
the scheme will be achieved. Tata Consultancy Corporation Ltd. Oil 1.09
Available Plan Services Ltd. Software 5.75 Vedanta Ltd. Non - Ferrous Metals 1.00
Regular Plan
Larsen And Toubro Ltd. Construction Project 4.34 Tata Steel Limited. Ferrous Metals 0.99
Ratios
Kotak Mahindra Bank Ltd. Banks 4.02 Yes Bank Ltd Banks 0.98
Portfolio Turnover: 17.02% Axis Bank Ltd Banks 3.47 Bajaj Auto Ltd. Auto 0.94

Tracking Error: 0.11% Hindustan Unilever Ltd. Consumer Non Durables 3.42 Hero MotoCorp Ltd. Auto 0.92
State Bank Of India Banks 2.99 Tata Motors Ltd. Auto 0.90
Minimum Investment Amount
Through Exchange:1 Unit, Maruti Suzuki India Limited Auto 2.39 Coal India Ltd. Minerals/Mining 0.83
Through AMC: 10000 Units, IndusInd Bank Ltd. Banks 2.06 Tata Motors Ltd - DVR Auto 0.13
Ideal Investment Horizon: 3 years and
above Asian Paints Ltd. Consumer Non Durables 1.73 Equity & Equity
Load Structure Mahindra & Mahindra Ltd. Auto 1.72 Related - Total 99.94
Entry Load: Nil. (applicable for all plans)
Bajaj Finance Limited Finance 1.65 Net Current Assets/
Exit Load: Nil (applicable for all plans)
HCL Technologies Ltd. Software 1.52 (Liabilities) 0.06
Total Expense Ratio**
Regular: 0.27% Sun Pharmaceuticals Grand Total 100.00

SECTOR ALLOCATION (%)

2.37 1.10
31.99 15.00 11.60 10.76 10.62 7.00 4.34 1.25 3.97

Banks Software Consumer Non Durables Petroleum Products Finance Auto

Construction Project Power Pharmaceuticals Telecom - Services REST

Data as on January 31, 2019

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at moderately high risk
This product is suitable for investors who are seeking*:
Long term capital growth
Investment in stocks comprising the underlying index
and endeavours to track the benchmark index
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak Sensex ETF NAV as on January 31, 2019: `370.5911

*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

7
50
 KOTAK BANKING ETF
An open-ended scheme replicating/ tracking nifty bank index

Fund Manager: Mr. Deepak Gupta* PORTFOLIO

AAUM: `5,352.31 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `5,579.17 crs Assets Assets
Benchmark: Nifty Bank Index
Equity & Equity related Federal Bank Ltd. Banks 1.34
Allotment date: December 04, 2014
Folio count: 2,295 HDFC Bank Ltd. Banks 35.21 Bank Of Baroda Banks 0.84

Investment Objective ICICI Bank Ltd. Banks 18.50 IDFC First Bank Limited Banks 0.66
The investment objective of the scheme is
to provide returns before expenses that
Kotak Mahindra Bank Ltd. Banks 13.21 Punjab National Bank Banks 0.63
closely correspond to the total returns of
stocks as represented by the Nifty Bank
Index subject to tracking errors. There is no Axis Bank Ltd Banks 10.10 Equity & Equity
assurance or guarantee that the investment
objective of the scheme will be achieved. State Bank Of India Banks 8.68 Related - Total 99.92
Available Plan/Options
Regular Plan IndusInd Bank Ltd. Banks 6.07 Net Current Assets/
Option - Dividend Payout
Yes Bank Ltd Banks 2.83 (Liabilities) 0.08
Ratios
RBL Bank Ltd Banks 1.85 Grand Total 100.00
Portfolio Turnover: 38.71%

Tracking Error: 0.07%

SECTOR ALLOCATION (%)
Minimum Investment Amount
Through Exchange:1 Unit,
Through AMC: 15000 Units, 99.92 0.08
Ideal Investment Horizon: 3 years and.......
above
Load Structure
Entry Load: Nil. (applicable for all plans) Banks Net Current Assets
Exit Load: Nil (applicable for all plans)
Total Expense Ratio**
Regular: 0.18%

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at high risk
This product is suitable for investors who are seeking*:
Long term capital growth
Investment in stocks comprising the underlying index
and endeavours to track the benchmark index
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak Banking ETF NAV as on January 31, 2019: `279.0114

*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

7
51
 KOTAK PSU BANK ETF
An open-ended scheme replicating/ tracking nifty PSU bank index

Fund Manager: Mr. Deepak Gupta* PORTFOLIO

AAUM: `96.62 crs
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `63.04 crs Assets Assets
Benchmark: Nifty PSU Bank Index
Equity & Equity related Oriental Bank of Commerce Banks 0.93
Allotment date: November 8, 2007
Folio count: 2,183 State Bank Of India Banks 73.71 Central Bank Of India Banks 0.74

Investment Objective Bank Of Baroda Banks 7.17 The Jammu and Kashmir
The investment objective of the scheme is
to provide returns that closely correspond Punjab National Bank Banks 5.39 Bank Ltd. Banks 0.63
to the total returns of Nifty PSU Bank Index,
subject to tracking errors. However, there is Canara Bank Banks 3.32 Equity & Equity
no assurance or guarantee that the
investment objective of the scheme will be Union Bank Of India Banks 2.14 Related - Total 99.35
achieved.
Bank of India Banks 2.04 Net Current Assets/
Available Plan
Regular Plan Indian Bank Banks 1.30 (Liabilities) 0.65
Ratios
IDBI Bank Ltd. Banks 1.03 Grand Total 100.00
Portfolio Turnover: 129.20%
Syndicate Bank Banks 0.95
Tracking Error: 0.23%
SECTOR ALLOCATION (%)
Minimum Investment Amount
Through Exchange:1 Unit,
Through AMC: 10000 Units, 99.35 0.65
Ideal Investment Horizon: 3 years and
above
Load Structure
Entry Load: Nil. (applicable for all plans) Banks Net Current Assets
Exit Load: Nil (applicable for all plans)
Total Expense Ratio**
Regular: 0.49%

Data as on January 31, 2019

Product Label
Riskometer

Moderate Mo
t el y d
era Higerat
odLow h e
M

ly
Low

High

LOW HIGH
Investors understand that their principal will be at high risk
This product is suitable for investors who are seeking*:
Long term capital growth
Investment in stocks comprising the underlying index
and endeavours to track the benchmark index
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them.

Kotak PSU Bank ETF NAV as on January 31, 2019: `302.0236

*For Fund Manager experience, please refer page 60-61. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 53-59. For last three dividends, please refer page no 62-64.

7
52
 Scheme Performances as on January 31, 2019
Kotak Bluechip Fund
Kotak Bluechip Fund Nifty 50 TRI# S&P BSE SENSEX TRI## Kotak Bluechip Fund Nifty 50 TRI# S&P BSE SENSEX TRI##
Since Inception 19.85% 17.30% 17.41% 1,81,124 1,28,398 1,30,422
Last 1 Year -6.12% -0.35% 2.06% 9,388 9,965 10,206
Last 3 Years 10.52% 14.20% 14.86% 13,513 14,910 15,171
Last 5 Years 14.33% 13.61% 13.60% 19,545 18,930 18,929
Scheme Inception date is 04/02/2003. 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. Kotak Mahindra 50 unit scheme is renamed as Kotak Bluechip Fund with effect from 25th May 2018.
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

Kotak India EQ Contra Fund - Growth

Kotak India EQ Contra Kotak India EQ Contra
Nifty 100 TRI# Nifty 50 TRI## Nifty 100 TRI# Nifty 50 TRI##
Fund - Growth Fund - Growth
Since Inception 12.55% 13.75% 13.47% 49,496 57,103 55,209
Last 1 Year -0.41% -2.11% -0.35% 9,959 9,789 9,965
Last 3 Years 15.43% 14.34% 14.20% 15,399 14,965 14,910
Last 5 Years 14.75% 14.45% 13.61% 19,903 19,648 18,930
Scheme Inception date is 27/07/2005. Mr. Deepak Gupta has been managing the fund since 01/01/2017.
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. Kotak Classic Equity is renamed as Kotak India EQ Contra Fund with effect from 1st June 2018.
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).

Kotak Equity Opportunities Fund - Growth

Kotak Equity Opportunities Kotak Equity Opportunities
Fund - Growth Nifty 200 TRI#$ Nifty 50 TRI## Nifty 200 TRI#$ Nifty 50 TRI##
Fund - Growth
Since Inception 18.22% 15.22% 15.40% 1,11,379 76,913 78,703
Last 1 Year -7.04% -3.95% -0.35% 9,296 9,605 9,965
Last 3 Years 13.59% 14.06% 14.20% 14,672 14,857 14,910
Last 5 Years 17.24% 14.81% 13.61% 22,156 19,955 18,930
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. $ With the effect from 1st June 2018 Benchmark Name is changed to Nifty 200 TRI from Nifty 500 TRI. The
above performance is benchmarked to Nifty 200 TRI. Kotak Opportunities is renamed as Kotak Equity Opportunities Fund with effect from 1st June 2018.
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).

Kotak Standard Multicap Fund - Growth

Kotak Standard Multicap Kotak Standard Multicap
Nifty 200 TRI# Nifty 50 TRI## Nifty 200 TRI# Nifty 50 TRI##
Fund - Growth Fund - Growth
Since Inception 13.50% 10.50% 10.28% 32,856 25,553 25,082
Last 1 Year -3.56% -3.95% -0.35% 9,644 9,605 9,965
Last 3 Years 14.99% 14.06% 14.20% 15,223 14,857 14,910
Last 5 Years 19.37% 14.81% 13.61% 24,250 19,955 18,930
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. Kotak Select Focus Fund is renamed as Kotak Standard Multicap Fund with effect from 25th May 2018.
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).

Kotak Tax Saver Scheme - Growth

Kotak Tax Saver Kotak Tax Saver
Nifty 500 TRI# Nifty 50 TRI## Nifty 500 TRI# Nifty 50 TRI##
Scheme - Growth Scheme - Growth
Since Inception 11.28% 12.41% 12.76% 40,991 46,835 48,803
Last 1 Year -4.25% -5.95% -0.35% 9,575 9,405 9,965
Last 3 Years 13.48% 13.80% 14.20% 14,629 14,753 14,910
Last 5 Years 17.76% 15.15% 13.61% 22,657 20,256 18,930
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).

45
53
 Kotak Small Cap Fund - Growth
Kotak Small Cap Fund - Nifty Small Kotak Small Cap Fund - Nifty Small
Cap 50 TRI#$ Nifty 50 TRI## Cap 50 TRI#$ Nifty 50 TRI##
Growth Growth
Since Inception 14.57% NA 14.08% 66,657 NA 62,762
Last 1 Year -18.41% -34.53% -0.35% 8,159 6,547 9,965
Last 3 Years 10.07% 4.08% 14.20% 13,347 11,279 14,910
Last 5 Years 19.52% 12.12% 13.61% 24,397 17,726 18,930
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. $ With Effect from 25th May 2018, the Benchmark is changed to Nifty Small Cap 50 TRI.
Kotak Midcap is renamed as Kotak Small Cap Fund with effect from 25th May 2018
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).

Kotak Emerging Equity - Growth

Kotak Emerging Kotak Emerging Nifty Midcap
Nifty Midcap 100#$ Nifty 50 TRI## Nifty 50 TRI##
Equity - Growth Equity - Growth 100 TRI#$
Since Inception 11.33% 12.56% 10.49% 35,688 40,612 32,594
Last 1 Year -12.51% -17.88% -0.35% 8,749 8,212 9,965
Last 3 Years 13.07% 11.90% 14.20% 14,470 14,027 14,910
Last 5 Years 23.40% 18.84% 13.61% 28,631 23,711 18,930
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. $ With Effect from 25th May 2018, the Benchmark is changed to Nifty Midcap 100
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).

Kotak Infrastructure and Economic Reform Fund - Growth

Kotak Infrastructure and India Infrastructure Index
Nifty 50 TRI## Kotak Infrastructure and India Infrastructure Index
Nifty 50 TRI##
Economic Reform Fund - Growth (Customised Index by IISL)#$ Economic Reform Fund - Growth (Customised Index by IISL)#$
Since Inception 5.60% -0.86% 8.22% 18,149 9,103 23,719
Last 1 Year -20.77% -21.33% -0.35% 7,923 7,867 9,965
Last 3 Years 9.07% 5.41% 14.20% 12,985 11,717 14,910
Last 5 Years 18.47% 7.43% 13.61% 23,346 14,314 18,930
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. $ With Effect from 25th May 2018, the Benchmark is changed to India Infrastructure Index (Customised Index by IISL)
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).

Kotak Equity Hybrid

NIFTY 50 Hybrid Composite NIFTY 50 Hybrid Composite
Kotak Equity Hybrid Nifty 50 TRI## Kotak Equity Hybrid Nifty 50 TRI##
Debt 70:30 Index#$ Debt 70:30 Index#$
Since Inception 6.42% 7.91% 7.67% 13,018 13,810 13,680
Last 1 Year -7.93% 1.83% -0.35% 9,207 10,183 9,965
Last 3 Years 9.51% 12.33% 14.20% 13,142 14,187 14,910
Last 5 Years NA NA NA NA NA NA
Scheme Inception date is 25/11/1999. 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. $ With Effect from 25th May 2018, the Benchmark is changed to Nfty 50 Hybrid Composite Debt 70:30 Index TRI. Kotak Balance is renamed as kotak Equity Hybrid with effect from 25th May 2018
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

Kotak Equity Arbitrage Fund - Growth

Kotak Equity Arbitrage Nifty 50 Arbitrage Kotak Equity Arbitrage Nifty 50 Arbitrage
Nifty 50 TRI## Nifty 50 TRI##
Fund - Growth Index# Fund - Growth Index#
Since Inception 7.47% NA 12.61% 26,155 NA 48,778
Last 1 Year 6.26% 4.85% -0.35% 10,626 10,485 9,965
Last 3 Years 6.29% 5.14% 14.20% 12,014 11,628 14,910
Last 5 Years 6.96% 6.25% 13.61% 14,005 13,546 18,930
Scheme Inception date is 29/09/2005. Mr. Deepak Gupta has been managing the fund since 01/09/2008.
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.
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).

46
54
 Kotak Equity Savings Fund - Growth
Kotak Equity Savings 75% NIFTY 50 ARBITRAGE Kotak Equity Savings 75% NIFTY 50 ARBITRAGE
Nifty 50 TRI## Nifty 50 TRI##
Fund - Growth + 25% Nifty 50 TRI# Fund - Growth + 25% Nifty 50 TRI#
Since Inception 7.87% 6.85% 8.98% 13,854 13,298 14,478
Last 1 Year 3.20% 3.68% -0.35% 10,320 10,368 9,965
Last 3 Years 8.42% 7.49% 14.20% 12,752 12,426 14,910
Scheme Inception date is 13/10/2014. Mr. Deepak Gupta has been managing the fund since 17/09/2014. Mr. Abhishek Bisen has been managing the fund since 17/09/2014.
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).

Kotak Mahindra Liquid Scheme - Regular Plan - Growth

Kotak Liquid - Regular Plan - NIFTY Liquid Index#$ Kotak Liquid - Regular Plan - NIFTY Liquid Index#$ CRISIL 1
CRISIL 1 Year TBill## Year TBill##
Growth Growth
Since Inception 7.44% 7.46% 6.02% 29,887 29,969 24,405
Last 1 Year 7.43% 7.45% 7.22% 10,743 10,745 10,722
Last 3 Years 7.20% 7.08% 6.73% 12,320 12,279 12,161
Last 5 Years 7.77% 7.66% 7.38% 14,544 14,470 14,282
Scheme Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ With Effect from 1st June 2018, the Benchmark is changed to Nifty Liquid Fund Index from Crisil Liquid
Fund. The above performance is benchmarked to Nifty Liquid Index
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Money Market Scheme - Growth

Kotak Money Market NIFTY Money Kotak Money Market NIFTY Money
Market Index#$ CRISIL 1 Year TBill## Market Index#$ CRISIL 1 Year TBill##
Scheme - Growth Scheme - Growth
Since Inception 7.39% 7.64% 6.01% 30,329 31,439 24,797
Last 1 Year 7.89% 7.63% 7.22% 10,789 10,763 10,722
Last 3 Years 7.39% 7.35% 6.73% 12,387 12,372 12,161
Last 5 Years 7.92% 7.94% 7.38% 14,639 14,656 14,282
Scheme Inception date is 14/07/2003. Mr. Deepak Agrawal has been managing the fund since 01/11/2006.
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.$ With Effect from 1st June 2018, the Benchmark is changed to Nifty Money Market Index from Crisil Liquid
Fund. The above performance is benchmarked to NIFTY Money Market Index. Kotak Floater Short Term is renamed as Kotak Money Market Scheme with effect from 1st June 2018
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Savings Fund - Growth

Kotak Savings Fund - NIFTY Ultra Short Kotak Savings Fund - NIFTY Ultra Short
CRISIL 1 Year TBill## CRISIL 1 Year TBill##
Growth Duration Debt Index#$ Growth Duration Debt Index#$
Since Inception 7.77% 8.20% 6.13% 29,549 31,315 23,664
Last 1 Year 7.67% 8.28% 7.22% 10,767 10,828 10,722
Last 3 Years 7.50% 7.71% 6.73% 12,430 12,504 12,166
Last 5 Years 8.07% 8.21% 7.38% 14,742 14,838 14,282
Scheme Inception date is 13/08/2004. Mr. Deepak Agrawal 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. $ With Effect from 1st June 2018, the Benchmark is changed to NIFTY Ultra Short Duration Debt Index from
Crisil Liquid Fund. The above performance is benchmarked to NIFTY Ultra Short Duration Debt Index. Kotak Treasury Advantage Fund is renamed as Kotak Savings Fund with effect from 1st
June 2018
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Banking and PSU Debt Fund - Growth

Kotak Banking and PSU Debt CRISIL Banking and Kotak Banking and PSU Debt CRISIL Banking and
Fund - Growth PSU Debt Index#$ CRISIL 1 Year TBill## Fund - Growth PSU Debt Index#$ CRISIL 1 Year TBill##
Since Inception 7.33% NA 6.65% 41,424 NA 36,497
Last 1 Year 6.90% 6.73% 7.22% 10,690 10,673 10,722
Last 3 Years 7.66% 7.85% 6.73% 12,485 12,551 12,166
Last 5 Years 8.12% 8.99% 7.38% 14,776 15,386 14,282
Scheme Inception date is 29/12/1998. Mr. Deepak Agrawal has been managing the fund since 01/08/2008.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ With Effect from 1st June 2018, the Benchmark is changed to CRISIL Banking and PSU Debt Index from
Crisil Short Term Bond Fund Index. The above performance is benchmarked to CRISIL Banking and PSU Debt Index.
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

55
 Kotak Low Duration Fund - Growth
Kotak Low Duration Fund - NIFTY Low Duration Kotak Low Duration Fund - NIFTY Low Duration
CRISIL 1 Year TBill## CRISIL 1 Year TBill##
Growth Debt Index#$ Growth Debt Index#$

Since Inception 7.73% 8.51% 6.51% 22,524 24,380 19,904

Last 1 Year 7.60% 7.67% 7.22% 10,760 10,767 10,722
Last 3 Years 7.87% 7.56% 6.73% 12,560 12,450 12,166
Last 5 Years 8.51% 8.11% 7.38% 15,044 14,770 14,282
Scheme Inception date is 06/03/2008. Mr. Deepak Agrawal has been managing the fund since 01/02/2015.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ With Effect from 1st June 2018, the Benchmark is changed to NIFTY Low Duration Debt Index from Crisil
Liquid Fund. The above performance is benchmarked to NIFTY Low Duration Debt Index.
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Bond Short Term Plan - Growth

Kotak Bond Short Term Plan - NIFTY Short Duration Kotak Bond Short Term Plan - NIFTY Short Duration
CRISIL 1 Year TBill## CRISIL 1 Year TBill##
Growth Debt Index#$ Growth Debt Index#$
Since Inception 7.61% 7.83% 6.03% 34,199 35,377 26,700
Last 1 Year 6.75% 7.02% 7.22% 10,675 10,702 10,722
Last 3 Years 7.20% 7.48% 6.73% 12,325 12,423 12,166
Last 5 Years 7.96% 8.29% 7.38% 14,668 14,898 14,282
Scheme Inception date is 02/05/2002. Mr. Deepak Agrawal has been managing the fund since 11/07/2007.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.$ With Effect from 1st June 2018, the Benchmark is changed to NIFTY Short Duration Debt Index from Crisil
Short Term Bond Fund Index. The above performance is benchmarked to NIFTY Short Duration Debt Index.
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Dynamic Bond Fund - Growth

Kotak Dynamic Bond NIFTY Composite Kotak Dynamic Bond NIFTY Composite
CRISIL 1 Year TBill## CRISIL 1 Year TBill##
Fund - Growth Debt Index#$ Fund - Growth Debt Index#$
Since Inception 8.41% 8.13% 6.51% 23,702 23,055 19,624
Last 1 Year 7.53% 6.37% 7.22% 10,753 10,637 10,722
Last 3 Years 8.61% 7.37% 6.73% 12,820 12,384 12,166
Last 5 Years 8.80% 8.78% 7.38% 15,246 15,238 14,282
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. $ With Effect from 1st June 2018, the Benchmark is changed to Nifty Composite Debt Index from Crisil
Composite Bond Fund Index. The above performance is benchmarked to NIFTY Composite Debt Index. Kotak Flexi Debt Fund is renamed as Kotak Dynamic Bond Fund with effect from 1st
June 2018
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Credit Risk Fund - Growth

Kotak Credit Risk Fund - CRISIL Composite AA Kotak Credit Risk Fund - CRISIL Composite AA
Growth Short Term Bond Index#$ CRISIL 1 Year TBill## Growth Short Term Bond Index#$ CRISIL 1 Year TBill##
Since Inception 8.30% 8.90% 6.80% 20,068 21,057 17,757
Last 1 Year 6.42% 7.61% 7.22% 10,642 10,761 10,722
Last 3 Years 7.78% 8.47% 6.73% 12,527 12,770 12,166
Last 5 Years 8.66% 9.06% 7.38% 15,151 15,429 14,282
Scheme Inception date is 11/05/2010. Mr. Deepak Agrawal has been managing the fund since 12/04/2010.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ With Effect from 1st June 2018, the Benchmark is changed to CRISIL Composite AA Short Term Bond
Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to CRISIL Composite AA Short Term Bond Index. Kotak Income Opportunities Fund is renamed as
Kotak Credit Risk Fund with effect from 1st June 2018
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Corporate Bond Fund - Growth

Kotak Corporate Bond CRISIL Corporate Kotak Corporate Bond CRISIL Corporate
CRISIL 1 Year TBill## CRISIL 1 Year TBill##
Fund - Growth Bond Composite Index#$ Fund - Growth Bond Composite Index#$
Since Inception 8.12% 9.25% 6.47% 24,284 27,331 20,395
Last 1 Year 7.82% 5.13% 7.22% 10,782 10,513 10,722
Last 3 Years 7.95% 7.74% 6.73% 12,587 12,515 12,166
Last 5 Years 8.96% 9.03% 7.38% 15,364 15,410 14,282
Scheme Inception date is 21/09/2007. Mr. Deepak Agrawal has been managing the fund since 01/02/2015.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ With Effect from 1st June 2018, the Benchmark is changed to CRISIL Corporate Bond Fund Index from
Crisil Composite Bond Fund Index. The above performance is benchmarked to CRISIL Corporate Bond Fund Index.
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

56
 Kotak Medium Term Fund - Regular Plan - Growth
Kotak Medium Term Fund - NIFTY Medium Duration Kotak Medium Term Fund - NIFTY Medium Duration
CRISIL 10 Year Gilt## CRISIL 10 Year Gilt##
Regular Plan - Growth Debt Index#$ Regular Plan - Growth Debt Index#$
Since Inception 8.77% 8.48% 8.10% 15,055 14,865 14,609
Last 1 Year 5.76% 5.83% 7.16% 10,576 10,583 10,716
Last 3 Years 7.67% 7.27% 6.58% 12,490 12,351 12,113
Scheme Inception date is 21/03/2014. Mr. Deepak Agrawal has been managing the fund since 22/06/2015.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ With Effect from 1st June 2018, the Benchmark is changed to NIFTY Medium Duration Debt Index from
Crisil Composite Bond Fund Index. The above performance is benchmarked to NIFTY Medium Duration Debt Index.
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Bond - Regular Plan - Growth

Kotak Bond - Regular NIFTY Medium to Long Kotak Bond - Regular NIFTY Medium to Long
CRISIL 10 Year Gilt##
Plan - Growth Duration Debt Index#$ Plan - Growth Duration Debt Index#$ CRISIL 10 Year Gilt##
Since Inception 8.68% NA NA 49,423 NA NA
Last 1 Year 5.36% 5.27% 7.16% 10,536 10,527 10,716
Last 3 Years 6.71% 7.02% 6.58% 12,157 12,263 12,113
Last 5 Years 7.77% 8.70% 8.10% 14,541 15,178 14,764
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. $ With Effect from 1st June 2018, the Benchmark is changed to Nifty Medium to Long Duration Debt Index
from Crisil Composite Bond Fund Index. The above performance is benchmarked to Nifty Medium to Long Duration Debt Index. Kotak Mahindra Bond Unit Scheme 99 is renamed as Kotak
Bond with effect from 1st June 2018.
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Mahindra Gilt Unit Scheme 98 - Investment Paln - Regular - Growth

Kotak Gilt - Investment - NIFTY All Duration Kotak Gilt - Investment - NIFTY All Duration
CRISIL 10 Year Gilt## CRISIL 10 Year Gilt##
Regular - Growth G-Sec Index#$ Regular - Growth G-Sec Index#$
Since Inception 9.44% NA NA 61,335 NA NA
Last 1 Year 7.40% 9.00% 7.16% 10,740 10,900 10,716
Last 3 Years 7.89% 7.54% 6.58% 12,568 12,446 12,113
Last 5 Years 9.00% 8.78% 8.10% 15,387 15,235 14,764
Scheme Inception date is 29/12/1998. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ With Effect from 1st June 2018, the Benchmark is changed to Nifty All Duration G-Sec Index from ISEC
Composite Index. The above performance is benchmarked to Nifty all Duration G-sec Index.
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Mahindra Gilt Unit Scheme 98 - Investment Paln - PF and Trust - Growth
Kotak Gilt - Investment - PF NIFTY All Duration Kotak Gilt - Investment - PF NIFTY All Duration
G-Sec Index#$ CRISIL 10 Year Gilt## G-Sec Index#$ CRISIL 10 Year Gilt##
and Trust - Growth and Trust - Growth
Since Inception 7.24% 5.63% 5.37% 29,011 23,038 22,190
Last 1 Year 7.40% 9.00% 7.16% 10,740 10,900 10,716
Last 3 Years 7.90% 7.54% 6.58% 12,569 12,446 12,113
Last 5 Years 9.02% 8.78% 8.10% 15,407 15,235 14,764
Scheme Inception date is 11/11/2003. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ With Effect from 1st June 2018, the Benchmark is changed to Nifty All Duration G-Sec Index from ISEC
Composite Index.
The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark.

Kotak Debt Hybrid

Kotak Debt Hybrid CRISIL Hybrid 85 + Kotak Debt Hybrid CRISIL Hybrid 85 +
15 - Conservative Index #$ CRISIL 10 Year Gilt## 15 - Conservative Index #$ CRISIL 10 Year Gilt##
Since Inception 7.48% 8.14% 5.44% 29,871 32,786 22,346
Last 1 Year 0.26% 5.03% 7.16% 10,026 10,503 10,716
Last 3 Years 7.92% 8.76% 6.58% 12,577 12,875 12,113
Last 5 Years 9.52% 10.11% 8.10% 15,759 16,191 14,764
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. $With Effect from 25th May 2018, the Benchmark is changed to Crisil Hybrid 85+15- Conservative Index TRI. Kotak Monthly Income Plan is renamed as Kotak Debt Hybrid with effect from 25th May
2018.
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

57
 Kotak Asset Allocator Fund - Growth
Kotak Asset Allocator NIFTY 50 Hybrid Composite S&P BSE SENSEX Kotak Asset Allocator NIFTY 50 Hybrid Composite S&P BSE SENSEX
Fund - Growth Debt 50:50 Index #$ TRI## Fund - Growth Debt 50:50 Index #$ TRI##
Since Inception 15.32% 11.88% 15.60% 78,841 50,880 81,698
Last 1 Year 4.35% 3.21% 2.06% 10,435 10,321 10,206
Last 3 Years 9.65% 10.99% 14.86% 13,192 13,686 15,171
Last 5 Years 14.81% 11.40% 13.60% 19,959 17,165 18,929
Scheme Inception date is 09/08/2004. Mr. Deepak Gupta has been managing the fund since 01/09/2008.
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. $ With Effect from 1st June 2018, the Benchmark is changed to NIFTY 50 Hybrid Composite Debt 50:50 Index from Crisil Hybrid 35+65 Aggressive Index.
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

Kotak US Equity Fund - Growth

Kotak US Equity Fund - S&P 500 International Total Nifty 50 TRI## Kotak US Equity Fund - S&P 500 International Total Nifty 50 TRI##
Growth Return Net Index# Growth Return Net Index#
Since Inception 9.51% 13.27% 12.63% 15,916 18,920 18,384
Last 1 Year 3.92% 8.84% -0.35% 10,392 10,884 9,965
Last 3 Years 11.86% 15.68% 14.20% 14,008 15,497 14,910
Last 5 Years 10.05% 13.78% 13.61% 16,145 19,072 18,930

Scheme Inception date is 20/12/2013. Mr. Deepak Gupta has been managing the fund since 01/02/2015.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.
TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of
Price Return Variant (PRI).

Kotak Global Emerging Market Fund - Growth

Kotak Global Emerging MSCI Emerging Market Nifty 50 TRI## Kotak Global Emerging MSCI Emerging Market Nifty 50 TRI##
Market Fund - Growth index# Market Fund - Growth index#
Since Inception 3.64% 4.16% 8.42% 15,009 15,889 25,038
Last 1 Year -15.22% -6.76% -0.35% 8,478 9,324 9,965
Last 3 Years 7.05% 13.88% 14.20% 12,274 14,786 14,910
Last 5 Years 2.34% 4.91% 13.61% 11,228 12,713 18,930
Scheme Inception date is 26/09/2007. Mr. Abhishek Bisen has been managing the fund since 04/04/2011 and Mr. Deepak Gupta has been managing the fund since 04/04/2011.
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).

Kotak World Gold Fund - Growth

Kotak World Gold Fund - Financial Times Gold Mines Nifty 50 TRI## Kotak World Gold Fund - Financial Times Gold Mines Nifty 50 TRI##
Growth Total - Price# Growth Total - Price#
Since Inception -1.53% -0.85% 9.61% 8,480 9,133 26,606
Last 1 Year -4.73% 5.03% -0.35% 9,527 10,503 9,965
Last 3 Years 10.31% 18.31% 14.20% 13,433 16,581 14,910
Last 5 Years -2.04% 3.84% 13.61% 9,020 12,074 18,930
Scheme Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 01/02/2015.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.
TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of
Price Return Variant (PRI).

Kotak Gold ETF

Kotak Gold Fund - CRISIL 10 Year Gilt## Kotak Gold Fund - CRISIL 10 Year Gilt##
Price of Gold#$ Price of Gold#$
Growth Growth
Since Inception 11.03% 12.21% 6.55% 33,407 37,734 20,767
Last 1 Year 8.61% 9.67% 7.16% 10,861 10,967 10,716
Last 3 Years 5.89% 7.02% 6.58% 11,878 12,265 12,113
Last 5 Years 2.46% 3.57% 8.10% 11,293 11,918 14,764
Scheme Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.
Different plans have different expense structure. The performance details provided herein are of regular plan
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ With Effect from 25th May 2018, the Benchmark is changed to Price of Gold, based on the formula
prescribed by SEBI as per Gazette Notification dated December 20, 2006
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).

58
 Kotak Nifty ETF
Kotak Nifty ETF Nifty 50# S&P BSE SENSEX TRI## Kotak Nifty ETF Nifty 50# S&P BSE SENSEX TRI##

Since Inception 9.87% 10.93% 11.19% 23,287 25,392 25,922

Last 1 Year -0.48% -0.35% 2.06% 9,952 9,965 10,206
Last 3 Years 13.11% 14.20% 14.86% 14,486 14,910 15,171
Last 5 Years 12.70% 13.61% 13.60% 18,183 18,930 18,929
Scheme Inception date is 08/02/2010. Mr. Deepak Gupta has been managing the fund since 25/02/2011.
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).

Kotak Sensex ETF

Kotak Sensex ETF S&P BSE SENSEX TRI# Nifty 50 TRI## Kotak Sensex ETF S&P BSE SENSEX TRI# Nifty 50 TRI##
Since Inception 8.52% 9.81% 9.61% 23,897 27,127 26,606
Last 1 Year 1.87% 2.06% -0.35% 10,187 10,206 9,965
Last 3 Years 13.60% 14.86% 14.20% 14,676 15,171 14,910
Last 5 Years 12.20% 13.60% 13.61% 17,789 18,929 18,930
Scheme Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 25/02/2011.
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).

Kotak Banking ETF

Kotak Banking ETF Nifty Bank TRI# Nifty 50 TRI## Kotak Banking ETF Nifty Bank TRI# Nifty 50 TRI##
Since Inception 10.46% 10.65% 7.80% 15,105 15,210 13,651
Last 1 Year -0.10% 0.10% -0.35% 9,990 10,010 9,965
Last 3 Years 21.19% 21.45% 14.20% 17,828 17,944 14,910
Scheme Inception date is 10/12/2014. Mr. Deepak Gupta has been managing the fund since 24/11/2014.
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).

Kotak PSU Bank ETF

Kotak PSU Bank ETF Nifty PSU Bank TRI# Nifty 50 TRI## Kotak PSU Bank ETF Nifty PSU Bank TRI# Nifty 50 TRI##

Since Inception 0.31% 1.95% 7.13% 10,355 12,421 21,695

Last 1 Year -18.18% -17.82% -0.35% 8,182 8,218 9,965
Last 3 Years 8.92% 10.24% 14.20% 12,931 13,406 14,910
Last 5 Years 5.77% 7.65% 13.61% 13,238 14,461 18,930
Scheme Inception date is 08/11/2007. Mr. Deepak Gupta has been managing the fund since 25/02/2011.
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).

59
 ABOUT OUR FUND MANAGERS
Name: Mr. Harsha Upadhyaya
Mr. Harsha Upadhyaya manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.
Kotak Equity Opportunities Fund (Aug 4, 12), Kotak Standard Multicap Fund (Aug 4, 12), Kotak Tax Saver (Aug. 25,'15).
Business Experience
Mr. Harsha has nearly two decades of rich experience spread over Equity Research and Fund Management. His prior stints have been with companies such as DSP BlackRock, UTI Asset Management, Reliance
Group and SG Asia Securities. Mr. Harsha is a Bachelor of Engineering (Mechanical) from National Institute of Technology, Suratkal, a Post Graduate in Management (Finance) from Indian Institute of
Management, Lucknow and Chartered Financial Analyst from the CFA Institute.

1 YEAR 3 YEAR 5 YEAR Since Inception

Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*
Kotak Standard Multicap Fund - Growth -3.56 -3.95 14.99 14.06 19.37 14.81 13.50 10.50
Kotak Tax Saver Scheme - Growth -4.25 -5.95 13.48 13.80 17.76 15.15 11.28 12.41
Kotak Equity Opportunities Fund - Growth -7.04 -3.95 13.59 14.06 17.24 14.81 18.22 15.22
Kotak Standard Multicap Fund - Growth (Erstwhile Kotak Select Focus 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.
Kotak Tax Saver Scheme - 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.
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).

Name: Mr. Harish Krishnan

Mr. Harish Krishnan 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 Bluechip Fund (Jan 01, 14), Kotak Infrastructure & Economic Reform Fund (Jan31,'15), Kotak India Growth Fund Series 5 (May15, 18), Kotak Balanced Advantage Fund (July13, 18)
Business Experience
Mr. Harish has a decade of experience spread over Equity Research and Fund Management. Prior to joining Kotak Mutual Fund, he was based out of Singapore and Dubai, managing Kotak's offshore funds.
Mr. Harish has also worked at Infosys Technologies Ltd in his earlier stint. He is a Bachelor of Technology (Electronics & Communications) from Government Engineering College, Trichur, a post Graduate in
Management from Indian Institute of Management, Kozhikode and a Chartered Financial Analyst from the CFA Institute.
1 YEAR 3 YEAR 5 YEAR Since Inception

Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*
Kotak Bluechip Fund - Growth -6.12 -0.35 10.52 14.20 14.33 13.61 19.85 17.30
Kotak Infrastructure and -20.77 -21.33 9.07 5.41 18.47 7.43 5.60 -0.86
Economic Reform Fund - Growth
Kotak India Growth Fund Series 5 Since KIG 5 & Kotak Balanced Advantage Fund has not yet completed 1 year from inception,
Kotak Balanced Advantage Fund the performance of the scheme is not being disclosed.
Kotak Bluechip Fund - Growth (Erstwhile Kotak 50), *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 29/12/1998. Mr. Harish Krishnan has been managing the fund since 15/11/2013.
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.
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).
For Kotak Bluechip Fund : 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 to 31st May 2007 and TRI
Values from 31st May 2007 to 31st Jan 2018.
Name: Mr. Pankaj Tibrewal
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 (Jan. 21, 10) , Kotak Emerging Equity (May 27,'10), Kotak Equity Hybrid (Aug. 25,'15)
Business Experience
Mr. Pankaj is a graduate in Commerce from St. Xavier's College, Kolkata and holds a Master's degree in Finance from Manchester University. He has been associated with the mutual fund industry since 2003 where he has
managed several debt and equity schemes. He has been a part of the organization since January 2010. Mr. Pankaj's earlier stint was with Principal Mutual Fund.

1 YEAR 3 YEAR 5 YEAR Since Inception

Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*
Kotak Equity Hybrid - Dividend -7.93 1.83 9.51 12.33 NA NA 6.42 7.91

Kotak Emerging Equity - Growth -12.51 -17.88 13.07 11.90 23.40 18.84 11.33 12.56

Kotak Small Cap Fund - Growth -18.41 -34.53 10.07 4.08 19.52 12.12 14.57 NA
Kotak Equity Hybrid - Dividend (Erstwhile Kotak Balance), *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 70:30 Index, Scheme Inception date is 25/11/1999. Mr. Pankaj Tibrewal has been managing the fund
since 25/08/2015. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.
Kotak Emerging Equity - 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 Smallcap Fund - Growth (Erstwhile Kotak Midcap), *Name of the Benchmark - NIFTY Smallcap 50 TRI, Scheme Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010.
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).
For Kotak Equity Hybrid: 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.
Name: Mr. Deepak Gupta
Mr. Deepak Gupta manages 14 funds and all Kotak Capital Protection Oriented Scheme series all of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided
herein are of regular plan.
Kotak Equity Arbitrage (Sept.1, 08), Kotak Asset Allocator Fund (Sept.1, 08), Kotak Global Emerging Market Fund (Apr.4, 11), (Dedicated fund manager for over seas investment), Kotak Equity Hybrid (Aug. 25,'15), Kotak
Equity Savings Fund (Oct. 13, '14), Kotak World Gold Fund (Jan.31, 15), Kotak US Equity Fund (Jan.31, 15), Kotak PSU Bank ETF (Nov. 8, 07), Kotak SENSEX ETF (Jun. 6, 08), Kotak NIFTY ETF (Feb. 8, 10), Kotak Banking ETF
(Dec. 11, 14), Kotak India EQ Contra Fund (Jan. 1, '17), Kotak Balanced Advantage Fund (July13, 18)
Business Experience
Mr. Deepak has almost 10 years of experience in the mutual fund industry. He had joined the Equity Fund Management team as a research analyst. He is now an Equity Fund Manager. Mr. Deepak is a Graduate in Commerce
from Mumbai University. He is a qualified Chartered Accountant, a Cost Accountant and has cleared the AIMR CFA Level 3.

1 YEAR 3 YEAR 5 YEAR Since Inception

Scheme Names
Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*
Kotak NV 20 ETF 6.73 6.92 17.16 17.51 NA NA 16.57 14.99
Top 3 Kotak Equity Arbitrage Fund - Growth 6.26 4.85 6.29 5.14 6.96 6.25 7.47 NA
Kotak Asset Allocator Fund - Growth 4.35 3.21 9.65 10.99 14.81 11.40 15.32 11.88
Kotak World Gold Fund - Growth -4.73 5.03 10.31 18.31 -2.04 3.84 -1.53 -0.85
Bottom 3 Kotak Global Emerging Market Fund - Growth -15.22 -6.76 7.05 13.88 2.34 4.91 3.64 4.16
Kotak PSU Bank ETF -18.18 -17.82 8.92 10.24 5.77 7.65 0.31 1.95

Kotak Balanced Advantage Fund Since Kotak Balanced Advantage Fund has not yet completed 1 year from inception,
the performance of the scheme is not being disclosed.

60
Kotak NV20 ETF - *Name of the Benchmark Nifty 50 Value 20 TRI, Scheme Inception date is 01/12/2015. Mr. Deepak Gupta has been managing the fund since 08/12/2015.
Kotak Equity Arbitrage Fund - Growth, *Name of the Benchmark - Nifty 50 Arbitrage Index, Scheme Inception date is 29/09/2005. Mr. Deepak Gupta has been managing the fund since 01/09/2008.
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. Deepak Gupta has been managing the fund since 01/09/2008.
Kotak World Gold Fund - Growth, *Name of the Benchmark - Financial Times Gold Mines Total - Price, Scheme Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 01/02/2015.
Kotak Global Emerging Market Fund - Growth, *Name of the Benchmark - MSCI Emerging Market index, Scheme Inception date is 26/09/2007. Mr. Deepak Gupta has been managing the fund since 04/04/2011(Dedicated
fund manager for overseas investment) and Mr. Abhishek Bisen has been managing the fund since 04/04/2011.
Kotak PSU Bank ETF, *Name of the Benchmark - Nifty PSU Bank TRI , Scheme Inception date is 08/11/2007. Mr. Deepak Gupta has been managing the fund since 25/02/2011.
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).

Name: Mr. Abhishek Bisen

Mr. Abhishek Bisen manages 8 funds and all Kotak Capital Protection Oriented Scheme series 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 (Apr. 15, 2008), Kotak Debt Hybrid (Apr. 15, 08), Kotak Bond (Regular Plan) (Apr. 15, 08), Kotak Gilt Investment (Regular & PF-Trust) (Apr. 15, 08), Kotak Equity Savings Fund (Oct. 13, '14), Kotak Gold ETF
(Jul. 27, 07), Kotak Gold Fund (Mar. 25, '11), Kotak Balanced Advantage Fund (July13, 18)
Business Experience
Mr. Abhishek has been associated with the company since October 2006 and his key responsibilities include fund management of debt schemes. Prior to joining Kotak AMC, Me, Abhishek was working with Securities Trading
Corporation Of India Ltd where he was looking at Sales & Trading of Fixed Income Products apart from doing Portfolio Advisory. He has been awarded twice as one of the Highly Commended Investors in Indian Rupees Bonds
from the Asset magazine Hong Kong. His educational background is B.A (Management) and MBA (Finance).

1 YEAR 3 YEAR 5 YEAR Since Inception

Scheme Names
Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*
Kotak Gold Fund - Growth 8.81 9.67 6.10 7.02 0.54 3.57 4.13 5.98
Top 3 Kotak Gold ETF 8.61 9.67 5.89 7.02 2.46 3.57 11.03 12.21
Kotak Gilt - Investment - Regular - Growth 7.40 9.00 7.89 7.54 9.00 8.78 9.44 NA
Kotak Debt Hybrid - Growth 0.26 5.03 7.92 8.76 9.52 10.11 7.48 8.14
Bottom 3 Kotak Equity Hybrid - Dividend -7.93 1.83 9.51 12.33 NA NA 6.42 7.91

Kotak Gold Fund - Growth, *Name of the Benchmark - Price of Gold, Scheme Inception date is 25/03/2011. Mr. Abhishek Bisen has been managing the fund since 04/03/2011.
Kotak Gold ETF, *Name of the Benchmark - Price of Gold, Scheme Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 01/08/2008.
Kotak Gilt - Investment - Regular - 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 Debt Hybrid - Growth (Erstwhile Kotak Monthly Income Plan), *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 Hybrid (Erstwhile Kotak Balance), *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 70:30 Index, Scheme Inception date of Kotak Equity Hybrid- Dividend plan is 25/11/1999 and Kotak
Equity Hybrid- Regular Growth plan is 05/11/2014 . Mr. Pankaj Tibrewal has been managing the fund since 25/08/2015. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.
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).
For Kotak Balance Fund: 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.

Name: Mr. Deepak Agrawal

Mr. Deepak Agrawal manages 11 & All FMPs funds 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 (Apr. 14, 08), Kotak Dynamic Bond Fund (Jul. 11, 07), Kotak Money Market Scheme (Nov. 25, 07), Kotak Liquid (Jul. 11, 12), Kotak Banking and PSU Debt Fund (Apr.
14, 08), 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
(Jan. 31, 15), Kotak Overnight Fund (Jan. 15, 19) All Fixed Maturity Plans in existence (Aug. 13,'15),
Business Experience
Mr. Deepak's career has started from Kotak AMC when he joined the organization in December 2002 where he was initially in Research, Dealing and then moved into Fund Management from
November 2006. Mr. Deepak is a Post Graduate in Commerce, Chartered Account and Company Secretary.

1 YEAR 3 YEAR 5 YEAR Since Inception

Scheme Names
Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*
Kotak Money Market - Growth 7.89 7.63 7.39 7.35 7.92 7.94 7.39 7.64
Top 3 Kotak Corporate Bond Fund - Growth 7.82 5.13 7.95 7.74 8.96 9.03 8.12 9.25
Kotak Savings Fund - Growth 7.67 8.28 7.50 7.71 8.07 8.21 7.77 8.20
Kotak Bond Short Term Plan - Growth 6.75 7.02 7.20 7.48 7.96 8.29 7.61 7.83
Kotak Credit Risk Fund - Growth 6.42 7.61 7.78 8.47 8.66 9.06 8.30 8.90
Bottom 3
Kotak Medium Term Fund - Growth 5.76 5.83 7.67 7.27 NA NA 8.77 8.48

Kotak Money Market Scheme - Growth (Erstwhile Floater - Short Term), *Name of the Benchmark - NIFTY Money Market Index, Scheme Inception date is 14/07/2003. Mr. Deepak Agrawal has been managing the fund since
01/11/2006.
Kotak Corporate Bond Fund - Growth, *Name of the Benchmark - CRISIL Corporate Bond Fund Index, Scheme Inception date is 21/09/2007. Mr. Deepak Agrawal has been managing the fund since 01/02/2015.
Kotak Savings Fund - Growth (Erstwhile Kotak Treasury Advantage Fund), *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 Bond Short Term Plan - Growth, *Name of the Benchmark -NIFTY Short Duration Debt Index, Scheme Inception date is 02/05/2002. Mr. Deepak Agrawal has been managing the fund since 11/07/2007.
Kotak Credit Risk Fund - Growth (Erstwhile Kotak Income Opportunities Fund), *Name of the Benchmark - CRISIL Composite AA Short Term 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 - Regular Plan - 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.
We are comparing the performances of the funds with the total return Index(TRI)
Kotak Overnight Fund- Regular Plan - 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.

Name: Mr. Devender Singhal

Mr. Devender Singhal 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 Debt Hybrid - Growth (Aug. 25, 15).
Business Experience
Mr. Devender has been associated with the Kotak Group since July 2007. He is responsible for the research coverage of FMCG, Automobiles and Media sectors at Kotak AMC since Feb 2009. Devender has an overall working
experience of 14 years in equity research and fund management. Prior to joining Kotak AMC, Devender worked with the PMS divisions of Kotak, Religare, Karvy and P N Vijay Financial Services.

1 YEAR 3 YEAR 5 YEAR Since Inception

Scheme Names
Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*

Kotak Debt Hybrid - Growth 0.26 5.03 7.92 8.76 9.52 10.11 7.48 8.14

Kotak India Growth Fund Series 4 Since KIG 4 and KIG 7 has not yet completed 1 year from inception, the performance of the scheme is not being disclosed.
Kotak India Growth Fund Series 7

kotak Debt Hybrid - Growth (Erstwhile Kotak Monthly Income Plan), *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.
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

55
61
 DIVIDEND HISTORY
Equity Schemes Kotak Standard Multicap Fund
Kotak Equity Arbitrage Fund - Monthly Dividend Option (Erstwhile Kotak Select Focus)
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Jan-28-19 10.7427 0.0515 Sep-24-18 23.504 1.3281
Dec-24-18 10.7253 0.0367 Sep-27-17 23.592 1.50
Nov-26-18 10.7479 0.0597 Sep-30-16 21.349 1.25

Kotak Equity Arbitrage Fund - Fortnightly Dividend Option Kotak Equity Saving Fund - Monthly Dividend Option
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Jan-28-19 23.1021 0.059 Jan-14-19 11.2143 0.0421
Jan-14-19 23.0753 0.0353 Dec-12-18 11.1921 0.0432
Dec-17-18 23.0771 0.037 Nov-12-18 11.137 0.0451

Kotak Equity Arbitrage Fund - Bimonthly Dividend Kotak Equity Saving Fund - Quarterly Dividend
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Jan-28-19 20.1327 0.1653 Dec-20-18 11.1696 0.1341
Nov-26-18 20.1931 0.2253 Sep-21-18 11.3014 0.1739
Sep-24-18 20.1558 0.168 June-20-18 11.2939 0.1584

Kotak Bluechip Fund

(Erstwhile Kotak Mahindra 50 Unit Scheme) - Dividend Kotak Infrastructure and Economic Reform
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Dec-27-18 32.943 0.8677 Feb-28-18 20.582 0.63
Mar-23-18 35.3566 3.604 Feb-23-17 17.564 0.50
Dec-28-17 39.2181 1.52

Hybrid Schemes
Kotak India EQ Contra Fund Kotak Equity Hybrid
(Erstwhile Kotak Classic Equity) (Erstwhile Kotak Balance)
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Mar-23-18 23.714 4.778 Jan-25-19 14.459 0.108
Jul-24-17 23.433 0.70 Dec-26-18 14.7 0.108
Jul-15-16 19.692 0.50 Nov-26-18 14.604 0.1062

Kotak Equity Opportunities Fund Kotak Debt Hybrid

(Erstwhile Kotak Opportunities) (Erstwhile Kotak MIP) - Monthly Dividend
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Nov-27-18 23.714 0.5489 Jan-14-19 11.7889 Individual/ HUF: 0.0758
Sep-03-18 26.613 0.6994 Others: 0.0702
May-30-18 26.119 0.6995 Dec-12-18 11.737 Individual/ HUF: 0.0686
Others: 0.0635
Nov-12-18 11.6904 Individual/ HUF: 0.0707
Kotak Small Cap Fund
Others: 0.0655
(Erstwhile Kotak Midcap)
Record Date Cum Dividend NAV `/Unit Kotak Debt Hybrid
Feb-28-18 45.373 1.27 (Erstwhile Kotak MIP) - Quarterly Dividend
Feb-27-17 36.403 1.45 Record Date Cum Dividend NAV `/Unit
Feb-23-16 26.770 1.00
Dec-20-18 13.3417 Individual/ HUF: 0.1936
Others: 0.1792
Kotak Tax Saver Sep-21-18 13.4233 Individual/ HUF: 0.2042
Others: 0.1891
Record Date Cum Dividend NAV `/Unit June-20-18 13.6558 Individual/ HUF: 0.2067
Dec-24-18 18.125 0.3276 Others: 0.1914
Sep-26-18 18.808 0.3453
June-28-18 18.444 0.3364 ETF Schemes
Kotak PSU Bank ETF
Record Date Cum Dividend NAV `/Unit
Kotak Emerging Equity Scheme
Mar-10-17 334.3964 7.00
Record Date Cum Dividend NAV `/Unit Nov-21-14 428.2343 19.00
Mar-23-18 26.1532 2.674
May-26-17 26.010 1.59 Kotak SENSEX ETF
May-27-16 21.196 1.30 Record Date Cum Dividend NAV `/Unit
Mar-10-17 297.6072 7.50
Kotak Asset Allocator Fund Nov-21-14 290.4602 6.00
(Erstwhile Kotak Equity FOF)
Record Date Cum Dividend NAV `/Unit
Aug-30-10 37.774 Individual/ HUF: 0.878 Kotak Nifty ETF
Others: 0.819 Record Date Cum Dividend NAV `/Unit
Mar-10-17 904.9522 10.00
May-06-16 785.7880 11.00
Nov-21-14 858.2720 9.50

62
 Debt Schemes
Kotak Dynamic Bond Fund
Kotak Bond Regular Plan - Quarterly Dividend Option (Erstwhile Kotak Flexi Debt Fund) - Monthly Dividend
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Sep-20-17 10.8936 Individual/ HUF: 0.1192 Jan-14-19 21.9898 Individual/ HUF: 0.1581
Others: 0.1104 Others: 0.1464
Jun-20-17 11.1699 Individual/ HUF: 0.1876 Dec-12-18 22.2076 Individual/ HUF: 0.3149
56 Others: 0.1738 Others: 0.2916
54
Mar-20-17 10.7213 Individual/ HUF: 0.0721 Nov-12-18 21.9419 Individual/ HUF: 0.1236
Others: 0.0668 Others: 0.1144

Kotak Bond Regular Plan - Annual Dividend Kotak Dynamic Bond Fund
(Erstwhile Kotak Flexi Debt Fund) - Quarterly Dividend
Record Date Cum Dividend NAV `/Unit
Record Date Cum Dividend NAV `/Unit
Mar-20-14 21.2977 Individual/ HUF: 0.2158
Dec-20-18 11.3608 Individual/ HUF: 0.2667
Others: 0.2067
Others: 0.2469
Mar-20-13 22.5941 Individual/ HUF: 1.4008
Sep-21-18 11.0797 Individual/ HUF: 0.1138
Others: 1.2006
Others: 0.1053
June-20-18 10.9023 Individual/ HUF: 0.0036
Others: 0.0034
Kotak Bond Short Term - Monthly Dividend
Record Date Cum Dividend NAV `/Unit Kotak Corporate Bond Fund - Regular Plan Monthly Dividend
Jan-14-19 10.1855 Individual/ HUF: 0.0777 Record Date Cum Dividend NAV `/Unit
Others: 0.0719 Jan-14-19 1057.698 Individual/ HUF: 8.0467
Dec-12-18 10.1853 Individual/ HUF: 0.0775 Others: 7.4513
56
54 Others: 0.0718 Dec-12-18 1055.729 Individual/ HUF: 6.6289
Nov-12-18 10.1449 Individual/ HUF: 0.0484 Others: 6.1384
Others: 0.0448 Nov-12-18 1053.3955 Individual/ HUF: 4.9478
Others: 4.5817
Kotak Bond Short Term - Half Yearly Dividend
Record Date Cum Dividend NAV `/Unit Kotak Corporate Bond Fund - Regular Quarterly Dividend
Sep-21-18 12.0475 Individual/ HUF: 0.0042 Record Date Cum Dividend NAV `/Unit
Others: 0.0039 Jun-20-17 1070.4266 Individual/ HUF: 15.9660
Mar-20-18 11.799 Individual/ HUF: 0.0101 Others: 14.7922
56
54 Others: 0.0093 Mar-20-17 1062.9423 Individual/ HUF: 11.1398
Sep-20-17 11.7146 Individual/ HUF: 0.0816 Others: 10.3208
Others: 0.0756 Dec-20-16 1070.3117 Individual/ HUF: 17.6919
Others: 16.3912
Kotak Credit Risk Fund
(Erstwhile Kotak Income Opportunities Fund) - Annual Dividend Kotak Gilt Investment Regular Plan - Quarterly Dividend
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Mar-12-18 10.8586 Individual/ HUF: 0.458 Jun-20-17 13.5005 Individual/ HUF: 0.2132
Others: 0.4243 Others: 0.1976
Mar-15-17 11.2098 Individual/ HUF: 0.7411 Mar-20-17 12.7811 Individual/ HUF: 0.0754
56
54 Others: 0.6866 Others: 0.0699
Mar-14-16 11.0308 Individual/ HUF: 0.6162 Dec-20-16 13.7660 Individual/ HUF: 0.4694
Others: 0.5709 Others: 0.4349

Kotak Credit Risk Fund Kotak Credit Risk Fund

(Erstwhile Kotak Income Opportunities Fund) - Monthly Dividend (Erstwhile Kotak Income Opportunities Fund) - Quarterly Dividend
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Jan-14-19 10.4023 Individual/ HUF: 0.0757 Dec-20-18 10.9699 Individual/ HUF: 0.1412
Others: 0.0701 Others: 0.1308
Dec-12-18 10.3911 Individual/ HUF: 0.0676 Mar-20-18 10.8376 Individual/ HUF: 0.0938
56
54 Others: 0.0626 Others: 0.0869
Nov-12-18 10.3553 Individual/ HUF: 0.0418 Dec-20-17 10.7894 Individual/ HUF: 0.0774
Others: 0.0387 Others: 0.0718

Kotak Savings Fund Kotak Money Market Scheme

(Erstwhile Kotak Treasury Advantage Fund) - Monthly Dividend (Erstwhile Kotak Floater Short Term Scheme) - Monthly Dividend
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Jan-14-19 10.4395 Individual/ HUF: 0.0315 Jan-14-19 1009.979 Individual/ HUF: 4.5618
Others: 0.0292 Others: 4.2243
Dec-12-18 10.3659 Individual/ HUF: 0.0122 Dec-12-18 1008.675 Individual/ HUF: 5.2831
56
54 Others: 0.0113 Others: 4.8922
Nov-12-18 10.3352 Individual/ HUF: 0.0346 Nov-12-18 1007.783 Individual/ HUF: 4.6409
Others: 0.032 Others: 4.2975

57
63
Debt Schemes

Kotak Banking and PSU Debt Fund - Annual Dividend Kotak Banking and PSU Debt Fund - Monthly Dividend
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Mar-15-17 16.8762 Individual/ HUF: 1.0169 Jan-14-19 10.5562 Individual/ HUF: 0.0736
Others: 0.9421 Others: 0.0682
Mar-14-16 16.6687 Individual/ HUF: 0.8840 Dec-12-18 10.5861 Individual/ HUF: 0.0952
Others: 0.8190 Others: 0.0881
Mar-20-15 16.7914 Individual/ HUF: 0.9986 Nov-12-18 10.5525 Individual/ HUF: 0.071
Others: 0.9261 Others: 0.0657

Kotak Low Duration Fund - Regular Plan Monthly Dividend Kotak Medium Term Fund - Quarterly Dividend
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Jan-14-19 1027.212 Individual/ HUF: 3.9799 Dec-20-18 10.8295 Individual/ HUF: 0.1403
Others: 3.6855 Others: 0.13
Dec-12-18 1026.166 Individual/ HUF: 6.0332 Sep-21-18 10.7312 Individual/ HUF: 0.0986
Others: 5.5867 Others: 0.0913
Nov-12-18 1023.8502 Individual/ HUF: 4.3653 June-20-18 10.6036 Individual/ HUF: 0.0081
Others: 4.0423 Others: 0.0075

Kotak Gilt Investment PF and Trust Plan - Quarterly Dividend Kotak Medium Term Fund - Annual Dividend
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Dec-20-18 12.0473 Individual/ HUF: 0.255 Mar-12-18 11.0849 Individual/ HUF: 0.4674
Others: 0.2361 Others: 0.433
Sep-21-18 11.5254 Individual/ HUF: 0.0709 Mar-15-17 11.2826 Individual/ HUF: 0.6428
Others: 0.0657 Others: 0.5956
June-20-18 11.5099 Individual/ HUF: 0.0779 Mar-14-16 11.0913 Individual/ HUF: 0.6217
Others: 0.0721 Others: 0.5760

There is no assurance or guarantee to Unit holders as to rate/quantum of dividend distribution nor that the dividends will be paid regularly.
After payment of the dividend, the per Unit NAV falls to the extent of the payout and statutory levy, if any.
Dividend frequency is as per Trustee's discretion.

64
 RISK FACTORS
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
*The rating indicates highest degree of safety regarding timely receipt of payments from the investments that the Scheme has made. The ratings should,
however, not be construed as an indication of expected returns, prospective performance of the Mutual Fund Scheme, NAV or of volatility in its returns.
Disclaimer on market outlooks:
The outlook provided is only a subjective understanding of an uncertain market phenomena, which may or may not occur, and may also not have any effect on
the performance of the scheme, clement or otherwise. This outlook should not be construed as a reason for investment into the scheme based on prospect of
future performance, which may not accrue as anticipated by the statement.

How to read Fact Sheet

Fund Manager
An employee of the asset management company such as mutual fund or life insurer, who manages investments of the scheme. He is usually part of larger team of fund
managers and research analysts.
Application amount for fresh subscription
This is the minimum investment amount for a new investor in a mutual fund scheme
Minimum Additional Amount
This is the minimum investment amount for an existing investor in a mutual fund scheme
Yield to Maturity
The yield to maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond s current
market price, par value, couple interest rate and time to maturity
SIP
SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor
may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years.
NAV
The NAV or net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every
business day. It is the value at which investors enter or exit the mutual fund
Benchmark
A group of securities , usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other
investments. Some typical benchmark include the Nifty, Sensex, BSE 200, BSE 500, 10-year Gsec
Entry Load
A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor /agent. Entry load is charged at the time an investor purchases
the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs 100 and the entry load is 1%, the investor will
enter the fund at Rs 101.
Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the
distributor, based on his assessment of various factors including the service rendered by the distributor.
Exit load
Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if
the NAV is RS 100and an exit load is 1%, the redemption price would be Rs. 99 per unit
Modified Duration
Modified duration is the price sensitivity and the percentage change in price for a unit change in yield.
Standard deviation
Standard deviation is statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, it means its range of performance
is wide, implying greater volatility.
Sharp Ratio
The Sharpe Ratio, named after its founder the Noble laureate William Sharpe, is measure of risk-adjusted returns. It is calculated using standard deviation and excess return to
determine reward per unit of risk.
Beta
Beta is a measure of an investment s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1
implies that the security s price will be more volatile than the market.
AUM
AUM or assets under management refers to the recent / updated cumulative market value of investments managed by Mutual fund or any investment firm.
Holdings
The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net
assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager.
Nature of Scheme
The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital
appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt
fund or income fund. Each of these categories may have sub-categories.
Rating Profile
Mutual funds invest in securities after evaluating their credit worthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their
rating becomes the rating profile of the fund. Typically, this is a feature of debt funds.

Contact Details
Agra: 0562-4009647 Gorakpur: 0551-2204127/ 7850041494 Nashik: 253-6574255
Ahmedabad: 079-26779888/ 26766077 Gurgaon: 0124-4165424/26 New Delhi: 011-41100860/61
Ajmer: 0145-2628881 Guwahati: 0361-2734784 Panipat: 0180-2632062
Aligarh: 0571-6453223 Hubli: 0836-6450140 Patiala: 0175-6451766
Allahabad: 0532-6456177 Hyderabad: 040-66178140/ 41/ 42 Patna: 0612-6451120
Ambala: 0171-6451570/71 Indore: 0731-6453390 Pondicherry: 9962029229
Amritsar: 0183-6575777/ 6576777 Jabalpur: 9713508228 Pune: 020-25648111/12/13
Anand: 02692-650281 Jaipur: 0141-2373879 Raipur: 0771-4270917
Aurangabad: 0240-6611189 Jalandhar: 0181-2233481/ 9988883566 Rajkot: 0281-6620735
Bangalore: 080-61874600 / 01 / 02 / 03 Jalgaon: 0257-2237131/ 32 Ranchi: 0651-6454629/ 2332274/
Belgaum- 8050001089 Jammu: 0191-2470779 9709001533
Bareilly: 0581-6452934 Jamnagar: 0288-6540129 Rourkela: 0661-6450114/ 9776640098
Bhavnagar: 0278-2569511 Jamshedpur: 0657-2317041/6543474/ Rohtak- 0180-4022062
Bhilai: 0788-2225385 9570000685 Saharanpur - 0132-2724757
Bhopal: 0755-6461018 Jodhpur: 0291-2630625 Salem: 0427-6450115
Bhubaneshwar: 0674-6510250/9583340099 Kanpur: 0512-6454641/ 2541017 Shimla: 0177-6451211/ 2807911
Bhuj: 02832-653976 Kolhapur: 0231-6610390/ 91 Silliguri: 0353-2522012
Calicut: 495-2701031 Kolkata: 033- 46021037 / 46037141 /4603740 Surat: 0261-4896767/ 4896768
Chandigarh: 0172-4671885/ 5049476 Kottayam: 0481-2577077 Trichur: 0487-2430115
Chennai: 044-28221333/ 45038171 Lucknow: 522-4021168/ 4021169 Trichy: 91 - 0431-4972437
Cochin: 0484-2343903/ 9037000106 Ludhiana: 0161-4646602/ 4646604 Trivandrum: 0471-4470134/ 9745002032
Coimbatore: 422-6572165 Mangalore: 0824-6452006 Udaipur: 0294 2420005
Cuttack: 91-8114392771/ 9776000093 Meerut: 0121-2658105 Vadodara: 0265-2354012 / 2334012
Dehradun: 135-2742900/ 6453000 Mumbai: 022-66056825 Vapi: 260-6534863/ 260-6453920
Dhanbad: 9334235493 Mumbai: (Thane): 022-65970185/ 186 Varanasi: 0542-6456985
Durgapur: 0343-6456038/ 2544609 Muradabad: 0591-6456667 Vijayawada: 0866-6459930
Goa: 0832-6650490 Mysore: 0821-6541192 Vishakapatnam: 0891-6452145
Gwalior: 0751-2347815 Nagpur: 0712-2425052/8577
For details contact us at:
KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED: 6th Floor, Kotak Infiniti, Building No. 21, Infinity Park, Off Western Express Highway, Gen. A. K. Vaidya
Marg, Malad (East), Mumbai 400 097. Tel.: 91-22-66056825 Fax: 91-22-6708 2213 E-mail: [email protected] Website: www.kotakamc.com. Corporate Office of Asset
Management Company: 2nd Floor, 12-BKC, Plot No C-12, G Block, BKC, Bandra (East),Mumbai - 400 051

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