expert speak - kotak asset management

November 30, 2019Expert Speak

Dear Friends,

Q2 GDP at 4.5% has come in line with the street expectation. The question now is how soon will the economy see a turnaround as the corrective action of fiscal and monetary stimulus come into play. The credit and deposit growth in the banking system is down to single digits. On the other hand, the CPI headline inflation is inching closer to the 4% mark, while the core inflation is below the 4% mark. Part of the slow-down is due to corrective action to change the longer term growth orbit.

For example, earlier the real estate sector was dominated by small developers taking consumers for a ride. RERA has brought-in accountability and helped in safeguarding buyers interests. As a result, developers are now changing their business model. The issue now is to release the trapped capital in the real estate sector. To address that, the government's recent Rs 25000 cr package to the sector may help in reducing the stress and unlock capital but effective implementation is required since the stipulations are stringent.

Likewise, the long pending NPA problem which was pushed under the banking sector carpet was brought to fore and a robust mechanism and resolution process was instituted. This helped in the cleanup of the balance sheets and prevented potential economic turbulence which was getting pushed ahead for the next generation to handle.

Similarly, the inefficiencies and leakages in social service sector were plugged using the JAM (Jandhan-Aadhar-Mobile banking) mechanism. Likewise, CPI inflation, high fiscal deficit, high current account deficit and interest rates were brought down through coordinated policy measures.

With so many productive measures, the slowdown in the economy is the result of the side-effect of the bitter but necessary medicine that had to be administered. The economy needs to be prepared for the new age.

Japan, Korea, Thailand, Taiwan, Singapore overtook us in the 60s, 70s, 80s. Then, even China came from behind and outperformed us in the manufacturing race in 90s and 2000s. Even war ravaged country like Sri-Lanka outperformed India in per capita GDP growth.

The government is trying to fix the engine, the tyre, the fuel flow etc while also driving the car. One series of reforms are done. But now other major structural changes would also need to be taken to bring economy back in high speed.

For any economy, access to cheap funding is the turbo fuel. We too need to do what has already been done in US, UK, EU, China, Japan and many other places. The interest cost for the borrowers must be brought down. At that, the banking system must be flushed with liquidity. Additionally, quick mechanisms must be found to remove NPAs from financial system while also professionalizing it.

Government / RBI has many tools available to achieve these objectives. And it is showing urgency in applying them. Also, procedures must be found so that piled up litigations don't end up disrupting vital projects. Pin-pointed sectoral packages may also be needed to resolve the bottleneck issues.

Market has three compartments: Sensex � it is at a lifetime high but midcap, as well as small caps, are both down between 20 percent and 40 percent from their respective lifetime highs in January 2018.

The market today may be pricing in the recovery of earnings growth - where the December 2019 quarterly growth may be better than September 2019 (and March 2020 economic growth may be better than December 2019).

Already, the Reserve Bank of India (RBI) has pumped liquidity into the domestic banking system and interest rates are being cut. A positive step like a large public sector undertaking (PSU) divestment on one side reduces fiscal worries, and on the other side also confirms that the reform agenda of the government is a priority.

So put all these things together, the market expected that in September 2019 we may see growth bottoming out. Although the data for October'19 does not give confidence about growth bottoming out. Market is still pricing-in growth and earnings recovery in largecaps in the days to come.

Having said that, it's time to be cautious about valuation. What is looking very safe is not looking cheap and what is looking cheap from a valuation point of view is not necessarily safe (except for the last few days' rally). Small and midcaps across a variety of sectors provide you that comfort on the valuation. But one will have to be careful about valuations of the stocks, which they are investing in.

At the present juncture, we believe that investors may consider neutral allocation to equities asset with preference for small and midcaps within that portion. Lumpsum investors may invest in balanced advantage fund or use STP method to invest in equities. The present juncture of the market would require coordinated effort by distributors and mutual funds to help maneuver investors through this volatile period. We at Kotak mutual fund remain committed to serve this cause

Thanks and Regards,

Nilesh Shah

Managing Director

INDEX

Contents Page no.

Market Overview 1

Equity Market Snapshot 2

Debt Market Snapshot 3

How to read Fact Sheet 4

Fund Name/Scheme Name New SEBI scheme category

Equity Funds Kotak Standard Multicap Fund Multi Cap Fund 5

Kotak Emerging Equity Fund Mid Cap Fund 6

Kotak Equity Opportunities Fund Large & Mid Cap Fund 7

Kotak Bluechip Fund Large Cap Fund 8

Kotak Focused Equity Fund Focused Fund 9

Kotak Small Cap Fund Small Cap Fund 10

Kotak Tax Saver Fund ELSS 11

Kotak India EQ Contra Fund Contra Fund 12

Kotak India Growth Fund Series 4 13


Kotak Infrastructure & Economic Reform Fund Sectoral/Thematic 15


Hybrid FundsKotak Equity Arbitrage Fund Arbitrage Fund 17

Kotak Balanced Advantage Fund Balanced Advantage 20

Kotak Equity Hybrid Fund Aggressive Hybrid Fund 23

Kotak Equity Savings Fund Equity Savings 24

Kotak Debt Hybrid Fund Conservative Hybrid Fund 27

Debt FundsKotak Overnight Fund Overnight Fund 28

Kotak Liquid Fund Liquid Fund 29

Kotak Money Market Fund Money Market Fund 30

Kotak Savings Fund Ultra Short Duration Fund 31

Kotak Low Duration Fund Low Duration Fund 32

Kotak Floating Rate Fund Floater Fund 33

Kotak Corporate Bond Fund Corporate Bond Fund 34

Kotak Banking & PSU Debt Fund Banking & PSU Fund 35

Kotak Bond Short Term Fund Short Duration Fund 36

Kotak Credit Risk Fund Credit Risk Fund 37

Kotak Medium Term Fund Medium Duration Fund 39

Kotak Dynamic Bond Fund Dynamic Bond 41

Kotak Bond Fund Medium to Long Duration Fund 42

Kotak Gilt Fund Gilt Fund 43

Exposure 44

Fund of Funds SchemeKotak Asset Allocator Fund FOF (Domestic) 46

Kotak US Equity Fund FOF (Overseas) 47

Kotak Global Emerging Market Fund FOF (Overseas) 48

Kotak World Gold Fund FOF (Overseas) 49

ETF FundsKotak Gold ETF ETF 50

Kotak Nifty ETF ETF 51

Kotak Sensex ETF ETF 52

Kotak Banking ETF ETF 53

Kotak PSU Bank ETF ETF 54

Scheme Performance 55

About Our Fund Managers 62

Dividend History 65

Risk Factors 68

1

Stretched

Bubble

Cheap Over Invest80% - 90%

Attractive Neutral +65% - 75%

Fair Neutral50%

Fair ValuePlus

Neutral -35% - 45%

Under Invest15%- 25%

Exit5% - 10%

Market Equity Allocaion

Market Valuation Indicators

Suggested equity allocation

(Assuming 50% equity

allocation as neutral)

Source: Axis Capital, Internal Estimates

Strategy for Investments in the Current Scenario

Key Events for the Month of November 2019:

Market Overview

India�s Market Cap to GDP%

12-month forward Sensex P/E (x)

The Gross Domestic Product continued its downward spiral for the seventh consecutive quarter, falling to 4.5% in the second quarter (July-September) of the year 2019-20

CPI inflation jumps to 4.62% in October 2019. Core CPI inflation dips to 3.44% in October 2019

Wholesale prices in India rose by 0.16% year-on-year in October of 2019, slowing from a 0.33% gain in the previous month and compared with market expectations of a flat reading.

The fiscal deficit for the period April-October was recorded at 102.4% crossing the full year target underlining the fiscal concerns for the government

India's trade deficit narrowed to $11.01 billion in October from $18.0 billion a year ago, the trade ministry said on Friday, helped by lower oil imports.

Industrial growth shrunk for the second straight month in September, contracting by 4.3%, the most in nearly 8 years. The slide was mainly due to poor performance in the manufacturing sector, according to official data released on Monday.

India's Manufacturing PMI rose to 51.2 in November from 50.6 in October, indicating little improvement in health of the sector.

The Union Cabinet approved the sale of the government's stake in BPCL, SCI, and Concor, as well as decided to cut shareholding in select public sector firms below 51%.

Source: Axis Capital, Bloomberg

12-month Forward Sensex P/B (X)

Source: Axis Capital, Bloomberg

1.0

2.0

3.0

4.0

5.0

6.0

7.0

Nov

-91

Nov

-92

Nov

-93

Nov

-94

Nov

-95

Nov

-96

Nov

-97

Nov

-98

Nov

-99

Nov

-00

Nov

-01

Nov

-02

Nov

-03

Nov

-04

Nov

-05

Nov

-06

Nov

-07

Nov

-08

Nov

-09

Nov

-10

Nov

-11

Nov

-12

Nov

-13

Nov

-14

Nov

-15

Nov

-16

Nov

-17

Nov

-18

Nov

-19

Sensex P/B (x) Avg Sensex PB (x)

2.7

83

103

55

9588

71

64 66

81

69

7983 79

72

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

E

Average of 78% for the period

11000

15000

19000

23000

27000

31000

35000

39000

43000

47000

51000

Dec

-16

Dec

-16

Jan-

17

Mar

-17

Apr

-17

May

-17

Jun-

17

Jul-1

7

Aug

-17

Sep-

17

Oct

-17

Nov

-17

Dec

-17

Jan-

18

Feb-

18

Mar

-18

Apr

-18

May

-18

Jun-

18

Jul-1

8

Aug

-18

Sep-

18

Oct

-18

Nov

-18

Dec

-18

Jan-

19

Feb-

19

Mar

-19

Apr

-19

May

-19

Jun-

19

Jul-1

9

Aug

-19

Sep-

19

Oct

-19

Nov

-19

Stretched 20x 24x

Fair Value Plus 17x 20x

Fair 13x 17x

Attractive 10x 13x

Cheap 8x 10x

2

Near-term growth is uncertain, but many reforms like IBC, GST, RERA to improve longer term growth trajectory

Strong medium term earning growth trajectory, as previous cycle of NPA ends and capacity utilization improves. Will also be aided by recent tax cuts

India stands out among global asset classes with prospects of strong long term growth given favorable demographics

Long runaway of growth in financialization of savings

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

Now that elections are over, expect improved reform momentum

Economy

Corporate Earnings

FII Flow

DII Flow

Supply of paper

Policy/Reform Initiative

Key Variables Short - term Medium - term Remarks

Signifies growth

Key Variables & their Impact On Equities

Equity Market Snapshot

India � Gradual Recovery Ahead

Midcap Stocks Market Cap At 5 Year Low

Source: Motilal Oswal and Internal Analysis

All the steps taken should start reflecting into

economy over a period of 6� 18 months period

Subdued Oil

Normal Monsoon

Surplus Liquidity

Improving Credit

Realty SectorCleanup -RERA

Subsidy LeakagesPlugged

Operational Sectoral Package

MACRO POLICY ACTION SENTIMENTBOOSTER

LTCG WithdrawalIBC / NPA

(Tax Compliance)GST/Demon

Consider

Tax Rate Reduction Fiscal StimulusInterest Rate Cut

Personal Income Tax Cut

2.83.6

6.5

2.8

6.78.2

6.9

9.0

11.0

16.7 17.0 16.7

21.9

15.9 16.2

Dec

-05

Dec

-06

Dec

-07

Dec

-08

Dec

-09

Dec

-10

Dec

-11

Dec

-12

Dec

-13

Dec

-14

Dec

-15

Dec

-16

Dec

-17

Dec

-18

Nov

-19

Nifty Midcap-100 (INR t) 26% correction

from peak

FII Activity in Bond Market (Year-to-Date)

-17,953.14-15,467.82

16,181.30

11,576.389,936.41

5,446.88

-20000

-15000

-10000

-5000

0

5000

10000

15000

20000

2y 3y-5y 5y-9y 10y 11y-15y 15y+

Amount in INR Cr

Bond Tenor

FIIs are selling short-term and buying long-term

6.45

6.47

6.42

6.44

6.46

6.48

6.50

6.52

6.54

6.56

6.58

01-N

ov-1

9

02-N

ov-1

9

03-N

ov-1

9

04-N

ov-1

9

05-N

ov-1

9

06-N

ov-1

9

07-N

ov-1

9

08-N

ov-1

9

09-N

ov-1

9

10-N

ov-1

9

11-N

ov-1

9

12-N

ov-1

9

13-N

ov-1

9

14-N

ov-1

9

15-N

ov-1

9

16-N

ov-1

9

17-N

ov-1

9

18-N

ov-1

9

19-N

ov-1

9

20-N

ov-1

9

21-N

ov-1

9

22-N

ov-1

9

23-N

ov-1

9

24-N

ov-1

9

25-N

ov-1

9

26-N

ov-1

9

27-N

ov-1

9

28-N

ov-1

9

29-N

ov-1

9

30-N

ov-1

9

01-D

ec-1

9

02-D

ec-1

9

Rate cut hope strengthens post sharp decline in core CPI, weak IIP

Concerns of possible fiscal slippage Fiscal worries

increase

� Rise in US Treasury Yields & Global Crude Oil Prices.

� Trade War Concerns

Increased FII purchase due to the increasing possibility of US and China resolving their trade dispute in coming months

Moody�s lowers India�s rating outlook

Low GDP expectations along with hope of rate cut

Slowdown in GDP growth. Q2FY20 GDP growth seen at 4.5%

High demand at bond auction and market is expecting a rate cut

43

Items Nov-19 Oct-19 1 Month Change Nov-18 1 yr Change

Reverse repo 4.90% 4.90% NIL 6.25% -135 bps

Repo 5.15% 5.15% NIL 6.50% -135 bps

CRR 4.00% 4.00% NIL 4.00% NIL

SLR 18.50% 18.50% NIL 19.50% 100 bps

Mibor 5.25% 5.25% NIL 6.55% -130 bps

Call ON 5.06% 5.11% -11 bps 6.41% -135 bps

CBLO 4.90% 4.83% 7 bps 5.86% -96 bps

1 yr TBILL 5.11% 5.25% -14 bps 7.19% -208 bps

10 Gsec 6.47% 6.45% 2 bps 7.61% -114 bps

5 Year AAA 7.23% 6.95% 28 bps 8.64% -141 bps

USD/INR `71.73 `70.81 -0.92 paise `69.66 -`2.07

Source: RBI; Bloomberg.

Key Variables & their Impact On Interest Rates

Denotes fall in interest rates

Medium � term(6months � 2 years)Key Variables

Inflation

Rupee

Credit Demand

Government Borrowing

RBI Policy

Global Event Risk

Corporate bond Spread

Debt FII flow

Liquidity

Short - term(3-6 months)

Debt Market Snapshot

10 Year Gilt

Remarks

Near term some spike in headline inflation is expected however it is expected to remain benign over medium term. The core data suggests benign trend and therefore interim yields may spike but will trend down.Given overall macro economic the depreciating trend has stopped and INR is likely to remain stable or appreciate as flows come in India. However falling GDP is cause of concern. Credit growth has slowed down significantly. We expect RBI to cut rates to spur credit demand as economy is weak and may also need monetary stimulus before demand picks up. Govt facing sharp revenue shortfall while limited space for expenditure cut. However they have decided t stick to fiscal glide path. As of now market is in disbelieve which has lead to steepening of the curve. As the government is able to raise resources from other sources such as disinvestments or small saving etc bond yields will fall. And curve will flatten RBI is expected to cut rates and be dovish and thus will remain positive for short term rates and long term as well as the curve has become steep FOMC was on expected lines and given overall global environment its expected to remain easy and rate cutting trend may continue. Near term spread have compressed and scope for further compression is limited, With liquidity in positive mode we expect that gradually liquidity will start chasing yields. This will have a positive impact on interest rates. Should there be a bigger cut in rates, we may see contraction of spreads sooner than later in more than 5 yr assets . It may start with AAA/PSU and gradually will percolate to sub AAA and credits markets over 9-12mths.Govt has stepped up the peddle on reforms which is a macro positive and credence positive action will help India attracting capital flows. Market will wait for cues on Index inclusion which will be huge positive. Liquidity has turned positive and banking system is expected to remain in surplus zone in the near term. It is therefore likely to have a positive impact on Interest rates

FIIs Are Adding DurationSource: Bloomberg

Source:CCIL, As of Nov 2019

How to read Fact Sheet

Fund ManagerAn 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 subscriptionThis is the minimum investment amount for a new investor in a mutual fund scheme

Minimum Additional AmountThis is the minimum investment amount for an existing investor in a mutual fund scheme

Yield to MaturityThe 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

SIPSIP 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.

NAVThe 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

BenchmarkA 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 LoadA 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 loadExit 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 DurationModified duration is the price sensitivity and the percentage change in price for a unit change in yield.

Standard deviationStandard 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 RatioThe 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.

BetaBeta 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.

AUMAUM or assets under management refers to the recent / updated cumulative market value of investments managed by Mutual fund or any investment firm.

HoldingsThe 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 SchemeThe 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 ProfileMutual 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.

4

Investment ObjectiveThe investment objective of the scheme is to generate long-term capital appreciation from a portfolio of equity and equity related securities, generally focused on a few selected sectors. However, there is no assurance that the objective of the scheme will be realized.

Available Plans/OptionsA) B) Direct Plan Regular Plan

Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans)

Dividend FrequencyTrustee�s Discretion

Ratios

Source: $ICRA MFI Explorer.

Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and of ̀ 0.01 for switchesAdditional Investment: `1000 & in multiples of ̀ 1Ideal Investments Horizon: 3 years & above

Load StructureEntry 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: 1.63%; Direct: 0.87%

12.32%

0.96

0.65

12.71%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

Note: Subject to SEBI (MF) Regulations and the applicable guidelines issued by SEBI, Scheme has entered into securities lending in accordance with the framework specified in this regard.Term Deposit as provided above is towards margin for derivatives transactions Equity Derivative Exposure is 2.72%

Equity & Equity relatedICICI Bank Ltd. Banks 7.22Reliance Industries Ltd. Petroleum Products 7.20HDFC Bank Ltd. Banks 6.41Axis Bank Ltd Banks 4.78Larsen And Toubro Ltd. Construction Project 4.66Infosys Ltd. Software 3.29Tata ConsultancyServices Ltd. Software 3.11Ultratech Cement Ltd. Cement 3.00Petronet LNG Ltd. Gas 2.77State Bank Of India Banks 2.35Kotak MahindraBank Ltd. Banks 2.30Indraprastha Gas Ltd. Gas 2.16SRF Ltd. Textile Products 2.09AU Small Finance Bank Ltd. Banks 2.04ICICI Lombard GeneralInsurance Company Ltd Finance 1.96The Ramco Cements Ltd Cement 1.95Inter Globe Aviation Ltd Transportation 1.89Shree Cement Ltd. Cement 1.77IndusInd Bank Ltd. Banks 1.73Bharat Electronics Ltd Industrial Capital Goods 1.70Container Corporationof India Ltd. Transportation 1.47Jubilant Foodworks Limited Consumer Non Durables 1.45Bajaj Finance Limited Finance 1.39Bharat PetroleumCorporation Ltd. Petroleum Products 1.33Britannia Industries Ltd. Consumer Non Durables 1.26Godrej ConsumerProducts Ltd. Consumer Non Durables 1.24Hero MotoCorp Ltd. Auto 1.21RBL Bank Ltd Banks 1.21ITC Ltd. Consumer Non Durables 1.19HDFC Ltd. Finance 1.10GAIL (India) Ltd. Gas 1.09Bata India Ltd. Consumer Durables 1.04MRF Limited Auto Ancillaries 1.02Cadila Healthcare Ltd. Pharmaceuticals 0.98HDFC Standard LifeInsurance Company Ltd Finance 0.98

This product is suitable for investors who are seeking*:� Long term capital growth� Investment Portfolio of predominantly equity & equity

related securities generally focused on a few selected sectors across market capitalisation.

* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

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

KOTAK STANDARD MULTICAP FUND

Issuer/Instrument Industry/Rating % to Net Assets


PORTFOLIO

SECTOR ALLOCATION (%)

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 BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Alpha is difference of scheme return with benchmark return.Kotak Standard Multicap Fund NAV as on November 29, 2019: `23.458 (Dividend Option), `25.378 (Direct Dividend Option), `37.251 (Growth Option), `39.849 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.

5

Investment style

Value Blend Growth Size

Large

Medium

Small

Fund Manager: Mr. Harsha

Upadhyaya*

AAUM: `28,698.31 crs

AUM: `29,095.76 crs

Benchmark: Nifty 200 TRI

Allotment date: September 11, 2009

Folio count: 13,67,841

Riskometer

Investors understand that their principal will be at moderately high risk

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

Data as on November 30, 2019

Systematic Investment Plan (SIP) If you had invested `10,000 every month

SYSTEMATIC INVESTMENT PLAN (SIP)

SBI Life InsuranceCompany Ltd Finance 0.94Bajaj Finserv Ltd. Finance 0.92Mahindra & Mahindra Ltd. Auto 0.92Jindal Steel & Power Ltd. Ferrous Metals 0.91Lupin Ltd. Pharmaceuticals 0.83Kec International Ltd. Construction Project 0.72AIA Engineering Limited Industrial Products 0.56Balkrishna Industries Ltd Auto Ancillaries 0.54Max Financial Services Ltd. Finance 0.54Solar IndustriesIndia Limited Chemicals 0.39Bayer Cropscience Ltd. Pesticides 0.33BEML Ltd Industrial Capital Goods 0.33Century Textiles &Industries Ltd. Paper 0.26Whirlpool of India Ltd. Consumer Durables 0.21Techno Electric & EngineeringCompany Limited Construction Project 0.17Arvind Fashion Ltd. Retailing 0.12Arvind Ltd Textile Products 0.07Equity & EquityRelated - Total 91.10Futures CNX NIFTY-DEC2019 2.64RBL Bank Ltd-DEC2019 0.08Futures (Market valuerepresents NotionalValue) - Total 2.72Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Britannia Industries Ltd. ( ) CRISIL AAA 0.01Corporate Debt/FinancialInstitutions - Total 0.01TERM DEPOSITS HDFC Bank Ltd. 0.77Term Deposits - Total 0.77Triparty Repo 8.78Net Current Assets/(Liabilities) -0.66Grand Total 100.00

Monthly SIP of ) 10000(`

Total amount invested ( )`

Total Value as on Nov 29, 2019 ( )`

Scheme Returns (%)

Nifty 200 (TRI) Returns (%)

Alpha

Nifty 200 (TRI) ( )#`

Nifty 50 (TRI) ( )^`


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

12,30,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

27,28,173 26,15,603 14,24,291 7,99,479 4,16,702 1,29,223

14.84 14.90 14.84 11.45 9.76 14.67

11.56 11.61 11.87 10.35 9.26 12.40

3.28 3.30 2.97 1.10 0.50 2.27

22,78,618 21,93,439 12,81,378 7,77,962 4,13,656 1,27,821

22,77,574 21,92,585 12,88,625 7,98,760 4,28,128 1,28,936

11.55 11.60 12.03 11.41 11.62 14.21

38.50

35.97

13.65

14.55

2.35

6.99

13.33

6.40

10.39

6.40 6.15

3.18

5.56

6.00

3.69

1.13

3.36 2.64

Benchmark

Scheme

Financial Services Energy Cement & Cement Products Consumer Goods Information Technology

Cash & Cash Equivalent Construction Automobile Services Others

7

Investment ObjectiveThe investment objective of the scheme is to generate long-term capital appreciation from a portfolio of equity and equity related securities, by investing predominantly in mid companies. The scheme may also invest in debt and money market instruments, as per the asset allocation table. There is no assurance that the investment objective of the scheme will be achieved.

Available Plans/OptionsA) Regular Plan B) Direct Plan



Ratios


Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: `1000 & in multiples of ̀ 1Ideal Investments Horizon: 3 years & above

Load StructureEntry 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 redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units: Nil.


14.33%

0.77

0.35

15.03%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

Equity & Equity related P I Industries Ltd Pesticides 3.68Supreme Industries Limited Industrial Products 3.55Coromandel International Ltd. Fertilisers 3.34The Ramco Cements Ltd Cement 3.32Schaeffler India Ltd Industrial Products 3.05AU Small Finance Bank Ltd. Banks 3.04Atul Ltd. Chemicals 2.92Thermax Ltd. Industrial Capital Goods 2.61Tata GlobalBeverages Limited Consumer Non Durables 2.38Kajaria Ceramics Ltd. Construction 2.12Shree Cement Ltd. Cement 2.07Solar Industries India Limited Chemicals 1.99Mahindra & MahindraFinancial Services Ltd. Finance 1.98SRF Ltd. Textile Products 1.96Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.96Sheela Foam Ltd Consumer Durables 1.91IndusInd Bank Ltd. Banks 1.79Cadila Healthcare Ltd. Pharmaceuticals 1.68Indraprastha Gas Ltd. Gas 1.63RBL Bank Ltd Banks 1.61APL Apollo Tubes Limited Ferrous Metals 1.57Federal Bank Ltd. Banks 1.57Exide Industries Ltd Auto Ancillaries 1.55Page Industries Ltd Textile Products 1.53Axis Bank Ltd Banks 1.50Shriram City UnionFinance Ltd. Finance 1.49Apollo HospitalsEnterprises Ltd. Healthcare Services 1.40Voltas Ltd. Consumer Durables 1.35State Bank Of India Banks 1.33Finolex Cables Ltd. Industrial Products 1.31Godrej Agrovet Ltd Consumer Non Durables 1.27MRF Limited Auto Ancillaries 1.27MothersonSumi Systems Ltd. Auto Ancillaries 1.26Jindal Steel & Power Ltd. Ferrous Metals 1.25Max Financial Services Ltd. Finance 1.25Ratnamani Metals &Tubes Ltd. Ferrous Metals 1.25City Union Bank Ltd. Banks 1.23Hindustan PetroleumCorporation Ltd Petroleum Products 1.23Sundaram Finance Ltd. Finance 1.23

Oberoi Realty Ltd Construction 1.20Lux Industries Limited Textile Products 1.12Bharat Electronics Ltd Industrial Capital Goods 1.11Amara Raja Batteries Ltd. Auto Ancillaries 1.08V-Guard Industries Ltd. Consumer Durables 1.08SKF India Ltd Industrial Products 1.04Cummins India Ltd. Industrial Products 1.02Hawkins Cooker Ltd Household Appliances 1.01Eris Lifesciences Ltd Pharmaceuticals 0.97Persistent Systems Limited Software 0.97Emami Ltd. Consumer Non Durables 0.93Bata India Ltd. Consumer Durables 0.87Divi s Laboratories Limited Pharmaceuticals 0.86CholamandalamFinancial Holdings Limited Finance 0.83Future Retail Ltd. Retailing 0.80BEML Ltd Industrial Capital Goods 0.78Alkem Laboratories Ltd Pharmaceuticals 0.72PNC Infratech Ltd Construction 0.70Gujarat State Petronet Ltd. Gas 0.67Laurus Labs Ltd Pharmaceuticals 0.61Balkrishna Industries Ltd Auto Ancillaries 0.57Kewal KiranClothing Limited. Textile Products 0.57Edelweiss FinancialServices Ltd Finance 0.56Navneet Education Ltd. Media and Entertainment 0.52ICICI Securities Ltd Finance and Investments 0.40Whirlpool of India Ltd. Consumer Durables 0.40Kirloskar Oil Engines Ltd. Industrial Products 0.35Ramkrishna Forgings Ltd. Industrial Products 0.26WPIL Ltd Industrial Products 0.08CNX NIFTY - 12000.000 -Put Option - December 2019 0.02CNX NIFTY - 11800.000 -Put Option - December 2019 0.01Equity & EquityRelated - Total 96.51Futures Page Industries Ltd-DEC2019 0.02TERM DEPOSITS HDFC Bank Ltd. 0.17Term Deposits - Total 0.17Triparty Repo 3.26Net Current Assets/(Liabilities) 0.03Grand Total 100.00

Notes: Term Deposit as provided above is towards margin for derivatives transactions.Equity Derivative Exposuer is 0.02%Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 13.69%, 65.55% & 17.44%.

This product is suitable for investors who are seeking*:� Long term capital growth� Investment in equity & equity related securities

predominantly in mid cap companies.* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

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

KOTAK EMERGING EQUITY FUND



PORTFOLIO




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 BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Alpha is difference of scheme return with benchmark return.Kotak Emerging Equity Fund NAV as on November 29, 2019: `22.746 (Dividend Option), `26.714 (Direct Dividend Option), `40.164 (Growth Option), `43.48 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.

6

Investment style


Large

Medium

Small

Riskometer


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

Fund Manager: Mr. Pankaj Tibrewal*

AAUM: `5,446.20 crs

AUM: `5,669.90 crs

Benchmark: Nifty Midcap 100 TRI

Allotment date: March 30, 2007




15,30,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

42,58,641 27,45,746 14,59,942 7,51,862 3,90,581 1,28,950

14.98 15.81 15.53 8.97 5.38 14.23

11.60 10.81 10.20 4.87 -0.74 3.44

3.37 5.00 5.33 4.10 6.13 10.79

33,52,418 21,01,717 12,07,272 6,78,572 3,55,901 1,22,199

33,02,992 21,92,585 12,88,625 7,98,760 4,28,128 1,28,936

11.39 11.60 12.03 11.41 11.62 14.21

Monthly SIP of ( ) 10000`



Scheme Returns (%)

Nifty Midcap 100 (TRI) Returns (%)

Alpha

Nifty Midcap 100 (TRI) ( )#`



27.33

19.86

5.84

15.19

15.26

11.02

2.18

7.03

7.58

6.80

8.81

5.74

2.68

5.40

1.29

5.21

1.73

4.92

2.10

4.07

Benchmark

Scheme

Financial Services Industrial Manufacturing Consumer Goods Fertilisers & Pesticides Pharma

Automobile Cement & Cement Products Textiles Chemicals Metals

7

This product is suitable for investors who are seeking*:� Long term capital growth� Investment in portfolio of predominantly equity &

equity related securities of large & midcap companies.* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

Notes: Term Deposit as provided above is towards margin for derivatives transactions.Equity Derivative Exposuer is 0.46%Note: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 48.08%, 40.71% & 9.53%.

Equity & Equity relatedHDFC Bank Ltd. Banks 6.74ICICI Bank Ltd. Banks 6.50Reliance Industries Ltd. Petroleum Products 6.29Axis Bank Ltd Banks 3.91Larsen And Toubro Ltd. Construction Project 3.75Infosys Ltd. Software 3.68Tata ConsultancyServices Ltd. Software 3.08CoromandelInternational Ltd. Fertilisers 3.00SRF Ltd. Textile Products 2.93Indraprastha Gas Ltd. Gas 2.91Gujarat State Petronet Ltd. Gas 2.88The Ramco Cements Ltd Cement 2.68AIA Engineering Limited Industrial Products 2.46Bata India Ltd. Consumer Durables 2.44ICICI Lombard GeneralInsurance Company Ltd Finance 2.40Thermax Ltd. Industrial Capital Goods 2.38Max Financial Services Ltd. Finance 2.31Jindal Steel & Power Ltd. Ferrous Metals 2.27Petronet LNG Ltd. Gas 2.20AU Small Finance Bank Ltd. Banks 2.11Dr ReddysLaboratories Ltd Pharmaceuticals 2.05Shree Cement Ltd. Cement 1.85Bharat Electronics Ltd Industrial Capital Goods 1.64IndusInd Bank Ltd. Banks 1.63Schaeffler India Ltd Industrial Products 1.53DR.Lal Pathlabs Ltd Healthcare Services 1.52Page Industries Ltd Textile Products 1.40Godrej Agrovet Ltd Consumer Non Durables 1.39JubilantFoodworks Limited Consumer Non Durables 1.37Linde India Ltd. Chemicals 1.21State Bank Of India Banks 1.11CholamandalamFinancial Holdings Limited Finance 1.10

GAIL (India) Ltd. Gas 1.05Kalpataru PowerTransmission Ltd. Power 1.05JK Cement Ltd. Cement 1.03ABB Ltd. Industrial Capital Goods 1.02Supreme Industries Limited Industrial Products 1.00BEML Ltd Industrial Capital Goods 0.97Blue Star Ltd. Consumer Durables 0.89Cummins India Ltd. Industrial Products 0.86Dalmia Bharat Limited Cement 0.81Ultratech Cement Ltd. Cement 0.78Balkrishna Industries Ltd Auto Ancillaries 0.76Century Textiles &Industries Ltd. Paper 0.53Indian Bank Banks 0.52Edelweiss FinancialServices Ltd Finance 0.43Techno Electric & EngineeringCompany Limited Construction Project 0.42Heritage Foods Ltd Consumer Non Durables 0.41Healthcare GlobalEnterprises Ltd Healthcare Services 0.34Arvind Fashion Ltd. Retailing 0.15Equity & EquityRelated - Total 97.74Preference Shares 6% Redm Preference Sh ZeeEntertainment Enterprises Ltd. Media and Entertainment 0.02Preference Share - Total 0.02Futures Balkrishna IndustriesLtd-DEC2019 0.46TERM DEPOSITS HDFC Bank Ltd. 0.53Term Deposits - Total 0.53Triparty Repo 1.70Net Current Assets/(Liabilities) 0.01Grand Total 100.00

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity and equity related securities. The scheme will invest predominantly in a mix of large and mid cap stocks from various sectors, which look promising, based on the growth pattern in the economy. There is no assurance that the investment objective of the scheme will be achieved.




Ratios

$Source: ICRA MFI Explorer.


Load StructureEntry 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


28.21%

0.94

0.54

12.54%

Portfolio Turnover

$Beta

$Sharpe ##

$Standard Deviation

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

KOTAK EQUITY OPPORTUNITIES FUND



PORTFOLIO




Scheme Inception : - September 09, 2004. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional Benchmark TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Alpha is difference of scheme return with benchmark return.Kotak Equity Opportunities Fund NAV as on November 29, 2019: ̀ 24.328 (Dividend Option), ̀ 26.464 (Direct Dividend Option), ̀ 126.202 (Growth Option), ̀ 135.713 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.

7

Investment style


Large

Medium

Small


Upadhyaya*

AAUM: `2,783.48 crs

AUM: `2,837.06 crs




Riskometer


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label





Scheme Returns (%)


Alpha

Nifty 200 (TRI) ( )#`




18,30,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

58,80,088 23,71,433 13,40,894 7,73,476 4,08,334 1,29,875

14.02 13.07 13.14 10.11 8.38 15.73

12.05 11.61 11.87 10.35 9.26 12.40

1.97 1.46 1.27 -0.23 -0.88 3.33

49,47,992 21,93,439 12,81,378 7,77,962 4,13,656 1,27,821

49,96,040 21,92,585 12,88,625 7,98,760 4,28,128 1,28,936

12.16 11.60 12.03 11.41 11.62 14.21

38.50

28.80

13.65

16.40

0.83

11.87

2.35

7.69

10.39

6.76

13.33

6.51

0.34

4.48

3.18

4.18

0.72

3.00

2.80

2.27

Benchmark

Scheme

Financial Services Energy Industrial Manufacturing Cement & Cement Products Information Technology

Consumer Goods Textiles Construction Fertilisers & Pesticides Metals

Note: Term Deposit as provided above is towards margin for derivatives transactionsNote: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 83.42%, 11.29% & 3.14%.

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

This product is suitable for investors who are seeking*:� Long term capital growth� Investment in portfolio of predominantly equity & equity

related securities of large cap companies* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.


Investment ObjectiveTo generate capital appreciation from a portfolio of predominantly equity and equity related securities falling under the category of large cap companies. There is no assurance that the investment objective of the scheme will be achieved.




Ratios


Minimum Investment AmountInitial Investment: `1000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investments Horizon: 3 years & above

Load StructureEntry 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 redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units: Nil.


Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

41.28%

0.97

0.56

12.41%

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 BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).As TRI data is not available since inception of the scheme, benchmark SIP Performance is calculated by taking S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007 and TRI Values since 31st May 2007.Alpha is difference of scheme return with benchmark returnKotak Bluechip Fund NAV as on November 29, 2019: ̀ 36.443 (Dividend Option), ̀ 40.146 (Direct Dividend Option), ̀ 249.986 (Growth Option), ̀ 268.801 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.

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

KOTAK BLUECHIP FUND



PORTFOLIO




8

Fund Manager: Mr. Harish Krishnan*

AAUM: `1,448.85 crs

AUM: `1,469.78 crs

Benchmark: NIFTY 50 TRI

Allotment date: December 29, 1998


Investment style


Large

Medium

Small


Equity & Equity relatedReliance Industries Ltd. Petroleum Products 9.50HDFC Bank Ltd. Banks 9.28ICICI Bank Ltd. Banks 8.37Infosys Ltd. Software 5.36Axis Bank Ltd Banks 4.78HDFC Ltd. Finance 4.45Larsen And Toubro Ltd. Construction Project 3.85Kotak Mahindra Bank Ltd. Banks 3.79State Bank Of India Banks 3.18Tata ConsultancyServices Ltd. Software 3.14Maruti Suzuki India Limited Auto 2.38Bharat PetroleumCorporation Ltd. Petroleum Products 2.16ITC Ltd. Consumer Non Durables 2.14Asian Paints Ltd. Consumer Non Durables 1.86Container Corporationof India Ltd. Transportation 1.50Bajaj Finance Limited Finance 1.22GlaxoSmithkline ConsumerHealthcare Ltd Consumer Non Durables 1.20Tech Mahindra Ltd. Software 1.20Nestle India Ltd. Consumer Non Durables 1.18Persistent Systems Limited Software 1.18CoromandelInternational Ltd. Fertilisers 1.16Shree Cement Ltd. Cement 1.14Pfizer Ltd. Pharmaceuticals 1.13Eicher Motors Ltd Auto 1.09Cadila Healthcare Ltd. Pharmaceuticals 1.08Solar IndustriesIndia Limited Chemicals 1.08Bandhan Bank Limited Banks 1.07Motherson SumiSystems Ltd. Auto Ancillaries 1.06ICICI Lombard GeneralInsurance Company Ltd Finance 1.02

HDFC Standard LifeInsurance Company Ltd Finance 1.01Ultratech Cement Ltd. Cement 1.01Indraprastha Gas Ltd. Gas 0.98The Ramco Cements Ltd Cement 0.98Inter Globe Aviation Ltd Transportation 0.88Tata Steel Limited. Ferrous Metals 0.87Bharat Electronics Ltd Industrial Capital Goods 0.84Mahindra & MahindraFinancial Services Ltd. Finance 0.84Gujarat Gas Ltd Gas 0.81Schaeffler India Ltd Industrial Products 0.74AU Small Finance Bank Ltd. Banks 0.70Max Financial Services Ltd. Finance 0.69Titan Company Ltd. Consumer Durables 0.68Bata India Ltd. Consumer Durables 0.67Bharti Airtel Ltd. Telecom - Services 0.67Rail Vikas Nigam Limited. Construction 0.62Mahindra LifespaceDevelopers Ltd Construction 0.60National Thermal PowerCorporation Limited Power 0.59Tata GlobalBeverages Limited Consumer Non Durables 0.58Hindustan Zinc Ltd. Non - Ferrous Metals 0.51Page Industries Ltd Textile Products 0.44RBL Bank Ltd Banks 0.40Hindustan Unilever Ltd. Consumer Non Durables 0.21Equity & EquityRelated - Total 97.87TERM DEPOSITS HDFC Bank Ltd. 0.63Term Deposits - Total 0.63Triparty Repo 1.77Net Current Assets/(Liabilities) -0.27Grand Total 100.00


20,20,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

78,56,945 21,85,120 12,70,402 7,62,776 4,16,137 1,30,979

14.55 11.54 11.63 9.55 9.67 17.54

13.53 11.60 12.03 11.41 11.62 14.21

1.02 -0.06 -0.40 -1.86 -1.95 3.33

70,97,996 21,92,585 12,88,625 7,98,760 4,28,128 1,28,936

73,07,738 22,55,225 13,21,515 8,22,102 4,40,670 1,30,238

13.82 12.13 12.74 12.57 13.62 16.33




Scheme Returns (%)


Alpha

Nifty 50 (TRI) ( )#`

S&P BSE SENSEX (TRI) ( )^`

S&P BSE SENSEX (TRI) Returns (%)

41.25

40.80

15.39

14.04

12.36

10.88

11.47

8.52

3.31

5.07

5.65

4.52

1.59

3.14

0.60

2.37

2.19

2.21

2.14

Benchmark

Scheme

Financial Services Energy Information Technology Consumer Goods Construction

Automobile Cement & Cement Products Services Pharma Cash & Cash Equivalent

7

An open ended equity scheme investing in maximum 30 stocksin large-cap, mid-cap and small-cap category

Equity & Equity related

ICICI Bank Ltd. Banks 8.89

HDFC Bank Ltd. Banks 8.58

Reliance Industries Ltd. Petroleum Products 8.24

Larsen And Toubro Ltd. Construction Project 4.74

Infosys Ltd. Software 4.23

Axis Bank Ltd Banks 4.11

State Bank Of India Banks 3.58

Maruti Suzuki India Limited Auto 3.29

Shree Cement Ltd. Cement 3.00

Hindustan Unilever Ltd. Consumer Non Durables 2.95

Kotak Mahindra Bank Ltd. Banks 2.93

Kalpataru Power

Transmission Ltd. Power 2.91

Tata Consultancy Services Ltd. Software 2.85

HDFC Standard Life

Insurance Company Ltd Finance 2.60

Hindustan Petroleum

Corporation Ltd Petroleum Products 2.57

AU Small Finance Bank Ltd. Banks 2.50

Bharti Airtel Ltd. Telecom - Services 2.49

Supreme Industries Limited Industrial Products 2.41

The Ramco Cements Ltd Cement 2.41

Gujarat State Petronet Ltd. Gas 2.29

Max Financial Services Ltd. Finance 2.22

Page Industries Ltd Textile Products 2.21

Gujarat Gas Ltd Gas 2.12

Bharat Electronics Ltd Industrial Capital Goods 2.11

Aavas Financiers Ltd Finance 2.10

ICICI Lombard General


SRF Ltd. Textile Products 1.97

Container Corporation of

India Ltd. Transportation 1.96

P I Industries Ltd Pesticides 1.52

Inter Globe Aviation Ltd Transportation 1.21

Equity & Equity

Related - Total 96.98

Triparty Repo 3.21

Net Current Assets/

(Liabilities) -0.19

Grand Total 100.00



9

Investment ObjectiveThe investment objective of the scheme is t o g e n e r a t e l o n g t e r m c a p i t a l appreciation/income by investing in equity & equity related instruments across market capitalization of up to 30 companies. However, there is no assurance that the objective of the scheme will be realized.





Load StructureEntry 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



Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:� Long term capital growth� Investment in equity & equity related securities across market capitalisation in maximum 30 stocks* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

Product Label

24.84%Portfolio Turnover

Fund Manager: Ms. Shibani Kurian & Mr. Harish Krishnan*

AAUM: ` crs 1,435.96

AUM: ` crs1,464.02


Allotment date: July 16, 2019

Folio count: 59,491

PORTFOLIO


Kotak Focused Equity Fund NAV as on November 29, 2019: ̀ 10.809 (Growth Option), ̀ 10.881 (Direct Growth Option), ̀ 10.809 (Dividend Option), ̀ 10.882 (Direct Dividend Option)**Total Expense Ratio includes applicable B30 fee and GST.

Investment style


Large

Medium

Small


KOTAK FOCUSEDEQUITY FUND

30.59 10.81 8.91 7.08 5.414.74

4.414.18

3.293.21

17.37

Banks Petroleum Products Finance Software Cement Construction Project

Gas Textile Products Auto TREP & Term Deposits & Rev.Repo REST

7

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity and equity r e l a t e d s e c u r i t i e s b y i n v e s t i n g predominantly in small cap companies.There is no assurance that the investment objective of the Scheme will be achieved




Ratios



Load StructureEntry 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


21.63%

0.67

0.11

16.38%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

Equity & Equity related Techno Electric & EngineeringCompany Limited Construction Project 3.72JK Cement Ltd. Cement 3.14Galaxy Surfactants Ltd Chemicals 3.09Sheela Foam Ltd Consumer Durables 3.05P I Industries Ltd Pesticides 2.97JMC Projects (India) Ltd Construction 2.80Dixon TechnologiesIndia Ltd Consumer Durables 2.67Prataap Snacks Ltd Consumer Non Durables 2.67Ratnamani Metals &Tubes Ltd. Ferrous Metals 2.66Nilkamal Ltd Industrial Products 2.64ICICI Bank Ltd. Banks 2.53AU Small Finance Bank Ltd. Banks 2.51Hawkins Cooker Ltd Household Appliances 2.49Lux Industries Limited Textile Products 2.43Solar IndustriesIndia Limited Chemicals 2.38APL Apollo Tubes Limited Ferrous Metals 2.32Blue Star Ltd. Consumer Durables 2.31Century Plyboards(India) Ltd. Consumer Durables 2.26The Ramco Cements Ltd Cement 2.11Atul Ltd. Chemicals 2.07V.S.T Tillers Tractors Ltd Auto 1.97Heritage Foods Ltd Consumer Non Durables 1.94Amber Enterprises India Ltd Consumer Durables 1.91Mahindra LifespaceDevelopers Ltd Construction 1.88Varroc Engineering Ltd. Auto Ancillaries 1.85V-Guard Industries Ltd. Consumer Durables 1.76Security and IntelligenceServices India Ltd Commercial Services 1.73CoromandelInternational Ltd. Fertilisers 1.64Supreme Industries Limited Industrial Products 1.59Kajaria Ceramics Ltd. Construction 1.50Persistent Systems Limited Software 1.50

Hindustan Oil ExplorationCompany Ltd. Oil 1.49WPIL Ltd Industrial Products 1.36Aavas Financiers Ltd Finance 1.31Apollo Pipes Ltd Industrial Products 1.28Alkyl Amines Chemicals Ltd. Chemicals 1.25Schaeffler India Ltd Industrial Products 1.24BEML Ltd Industrial Capital Goods 1.22IndusInd Bank Ltd. Banks 1.21Laurus Labs Ltd Pharmaceuticals 1.19Thermax Ltd. Industrial Capital Goods 1.19RBL Bank Ltd Banks 1.18Mahindra & MahindraFinancial Services Ltd. Finance 1.11Shoppers Stop Ltd. Retailing 1.09Great Eastern ShippingCompany Ltd Transportation 1.05Kewal KiranClothing Limited. Textile Products 1.04Finolex Cables Ltd. Industrial Products 1.03Shriram City UnionFinance Ltd. Finance 0.96Vardhman Textiles Ltd. Textiles - Cotton 0.91Blue Dart Express Ltd. Transportation 0.87Cadila Healthcare Ltd. Pharmaceuticals 0.83Sandhar Technologies Ltd. Auto Ancillaries 0.71Carborundum Universal Ltd. Industrial Products 0.69Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.68MRF Limited Auto Ancillaries 0.57Motherson SumiSystems Ltd. Auto Ancillaries 0.54Sundaram Finance Ltd. Finance 0.48Navneet Education Ltd. Media and Entertainment 0.46Apar Industries Limited Industrial Capital Goods 0.28Equity & EquityRelated - Total 99.31Triparty Repo 0.84Net Current Assets/(Liabilities) -0.15Grand Total 100.00

Note: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 5.79%, 25.33% & 68.19%.


predominantly in small cap Stocks.* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

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

KOTAK SMALL CAP FUND



PORTFOLIO


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 BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Alpha is difference of scheme return with benchmark return.Kotak Small Cap Fund as on November 29, 2019: ̀ 36.039 (Dividend Option), ̀ 39.521 (Direct Dividend Option), ̀ 71.978 (Growth Option), ̀ 78.405 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61. $ With Effect from 1st November 2019, the Benchmark is changed to Nifty Small Cap 100 TRI from Nifty Small Cap 50 TRI.

10

Investment style


Large

Medium

Small

Fund Manager: Mr. Pankaj Tibrewal*AAUM: `1,307.17 crs

AUM: `1,325.78 crsBenchmark: NIFTY Smallcap 100 TRI $ Allotment date: February 24, 2005Folio count: 65,226

Riskometer


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label







Scheme Returns (%)

Nifty Smallcap 100 (TRI) Returns (%)

Alpha

Nifty Smallcap 100 (TRI) ( )#`




17,80,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

49,68,541 23,38,177 12,68,569 6,85,611 3,63,639 1,25,543

12.79 12.81 11.59 5.29 0.66 8.75

7.57 6.22 4.77 -1.68 -9.48 -6.05

5.22 6.59 6.82 6.97 10.13 14.79

32,18,099 16,51,326 9,94,847 5,74,897 3,10,122 1,16,078

46,00,720 21,92,585 12,88,625 7,98,760 4,28,128 1,28,936

11.88 11.60 12.03 11.41 11.62 14.21

12.45

19.66

3.16

12.52

20.26

11.28

17.66

9.90

2.73

8.79

3.27

6.14

1.61

5.63 5.25

1.82

4.98

3.62

4.61

Benchmark

Scheme

Consumer Goods Industrial Manufacturing Financial Services Construction Chemicals

Services Automobile Cement & Cement Products Metals Fertilisers & Pesticides

7

Investment ObjectiveThe investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail the income tax rebate, as permitted from time to time however, there is no assurance that the objective of the scheme will be realized.


Options: Dividend Payout & Growth (applicable for all plans)


Ratios


Minimum Investment AmountInitial Investment: `500 and in multiple of `500Additional Investment: `500 & in multiples of ̀ 500Ideal Investments Horizon: 3 years & above

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: Exit Load is not applicable for Kotak Tax Saver Fund. (applicable for all plans)


14.68%

0.94

0.53

12.92%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

Kalpataru PowerTransmission Ltd. Power 1.17Blue Star Ltd. Consumer Durables 1.14Whirlpool of India Ltd. Consumer Durables 1.14Balkrishna Industries Ltd Auto Ancillaries 1.12Container Corporationof India Ltd. Transportation 1.12Dalmia Bharat Limited Cement 1.11RBL Bank Ltd Banks 1.11JMC Projects (India) Ltd Construction 1.08State Bank Of India Banks 1.08Page Industries Ltd Textile Products 1.07Blue Dart Express Ltd. Transportation 1.00AIA Engineering Limited Industrial Products 0.96Gujarat State Petronet Ltd. Gas 0.94Cummins India Ltd. Industrial Products 0.79Max Financial Services Ltd. Finance 0.78APL Apollo Tubes Limited Ferrous Metals 0.76Techno Electric & EngineeringCompany Limited Construction Project 0.74GAIL (India) Ltd. Gas 0.73Parag Milk Foods Ltd Consumer Non Durables 0.72Cadila Healthcare Ltd. Pharmaceuticals 0.62Hawkins Cooker Ltd Household Appliances 0.53Ksb Ltd Industrial Products 0.25

Equity & EquityRelated - Total 98.31Preference Shares 6% Redm Preference Sh ZeeEntertainment Enterprises Ltd. Media and Entertainment 0.04

Preference Share - Total 0.04Triparty Repo 1.54Net Current Assets/(Liabilities) 0.11Grand Total 100.00

Equity & Equity relatedReliance Industries Ltd. Petroleum Products 6.99ICICI Bank Ltd. Banks 6.97HDFC Bank Ltd. Banks 5.94Axis Bank Ltd Banks 5.56GlaxoSmithkline ConsumerHealthcare Ltd Consumer Non Durables 3.86SRF Ltd. Textile Products 3.26Larsen And Toubro Ltd. Construction Project 3.23AU Small Finance Bank Ltd. Banks 3.20Tata ConsultancyServices Ltd. Software 2.99Infosys Ltd. Software 2.70Shree Cement Ltd. Cement 2.45Kotak Mahindra Bank Ltd. Banks 2.35Bajaj Auto Ltd. Auto 2.31Thermax Ltd. Industrial Capital Goods 2.19Ultratech Cement Ltd. Cement 2.07SKF India Ltd Industrial Products 1.86Gujarat Gas Ltd Gas 1.75Rail Vikas Nigam Limited. Construction 1.75CoromandelInternational Ltd. Fertilisers 1.73Jindal Steel & Power Ltd. Ferrous Metals 1.64Dr Reddys Laboratories Ltd Pharmaceuticals 1.56The Ramco Cements Ltd Cement 1.55Linde India Ltd. Chemicals 1.42ABB Ltd. Industrial Capital Goods 1.41Nestle India Ltd. Consumer Non Durables 1.40Solar Industries India Limited Chemicals 1.36ICICI Lombard GeneralInsurance Company Ltd Finance 1.32Bata India Ltd. Consumer Durables 1.19Hindalco Industries Ltd Non - Ferrous Metals 1.17Hindustan PetroleumCorporation Ltd Petroleum Products 1.17

This product is suitable for investors who are seeking*:� long term capital growth with a 3 year lock in� Investment in portfolio of predominantly equity &

equity related securities.* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

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

KOTAK TAX SAVER FUND



PORTFOLIO




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 BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Alpha is difference of scheme return with benchmark return.Kotak Tax Saver Fund NAV as on November 29, 2019: ̀ 19.029 (Dividend Option), ̀ 22.677 (Direct Dividend Option), ̀ 46.29 (Growth Option) ̀ 50.476 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.

11

Investment style


Large

Medium

Small


Upadhyaya*

AAUM: `1,006.37 crs

AUM: `1,030.20 crs


Allotment date: November 23, 2005


Riskometer


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label



16,90,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

40,15,101 22,79,521 13,29,295 7,69,706 4,10,712 1,28,990

11.48 12.33 12.90 9.92 8.78 14.30

11.31 11.46 11.67 9.75 8.09 11.43

0.17 0.87 1.23 0.16 0.69 2.87

39,62,404 21,75,806 12,72,189 7,66,582 4,06,564 1,27,216

39,98,480 21,92,585 12,88,625 7,98,760 4,28,128 1,28,936

11.43 11.60 12.03 11.41 11.62 14.21




Scheme Returns (%)


Alpha

Nifty 500 (TRI) ( )#`



36.51

28.33

12.87

12.76

13.64

9.47

1.97

7.47

2.32

7.18

3.44

6.80

9.94

5.70

0.50

4.34

2.70

3.57

5.82

3.44

Benchmark

Scheme

Financial Services Energy Consumer Goods Industrial Manufacturing Cement & Cement Products

Construction Information Technology Textiles Metals Automobile

Riskometer

This product is suitable for investors who are seeking*:� Long term capital growth� Investment in portfolio of predominantly equity & equity

related securities* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.


Equity & Equity relatedHDFC Bank Ltd. Banks 8.71Reliance Industries Ltd. Petroleum Products 8.21ICICI Bank Ltd. Banks 8.02Infosys Ltd. Software 4.57Larsen And Toubro Ltd. Construction Project 4.19Axis Bank Ltd Banks 3.50HDFC Ltd. Finance 2.98Kotak Mahindra Bank Ltd. Banks 2.64Tata ConsultancyServices Ltd. Software 2.40State Bank Of India Banks 2.39Ultratech Cement Ltd. Cement 2.39Bajaj Finance Limited Finance 2.27Shree Cement Ltd. Cement 2.02Bharti Airtel Ltd. Telecom - Services 2.00Hindustan PetroleumCorporation Ltd Petroleum Products 1.98AU Small Finance Bank Ltd. Banks 1.82ITC Ltd. Consumer Non Durables 1.80Titan Company Ltd. Consumer Durables 1.72Maruti Suzuki India Limited Auto 1.70Voltas Ltd. Consumer Durables 1.56Kalpataru PowerTransmission Ltd. Power 1.53Colgate Palmolive(India) Ltd. Consumer Non Durables 1.52Bharat Electronics Ltd Industrial Capital Goods 1.45Gujarat State Petronet Ltd. Gas 1.44HDFC Standard LifeInsurance Company Ltd Finance 1.40Container Corporationof India Ltd. Transportation 1.38Mahindra & Mahindra Ltd. Auto 1.38National Thermal PowerCorporation Limited Power 1.33Supreme Industries Limited Industrial Products 1.31Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.29Hindustan Unilever Ltd. Consumer Non Durables 1.22Page Industries Ltd Textile Products 1.22Gujarat Gas Ltd Gas 1.13

Bharat PetroleumCorporation Ltd. Petroleum Products 1.10ICICI Lombard GeneralInsurance Company Ltd Finance 1.08Max Financial Services Ltd. Finance 1.08Federal Bank Ltd. Banks 1.05Petronet LNG Ltd. Gas 1.05SRF Ltd. Textile Products 0.89Aavas Financiers Ltd Finance 0.86Inter Globe Aviation Ltd Transportation 0.83HCL Technologies Ltd. Software 0.70Jubilant Foodworks Limited Consumer Non Durables 0.70Mahindra & MahindraFinancial Services Ltd. Finance 0.62Jindal Steel & Power Ltd. Ferrous Metals 0.61Tech Mahindra Ltd. Software 0.53SBI Life InsuranceCompany Ltd Finance 0.49Tata Motors Ltd. Auto 0.48Exide Industries Ltd Auto Ancillaries 0.46Britannia Industries Ltd. Consumer Non Durables 0.24Cummins India Ltd. Industrial Products 0.23Dabur India Ltd Consumer Non Durables 0.23Shriram TransportFinance Co Ltd. Finance 0.22Sun PharmaceuticalsIndustries Ltd. Pharmaceuticals 0.08Equity & EquityRelated - Total 98.00Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Britannia Industries Ltd. ( ) CRISIL AAA 0.01Corporate Debt/FinancialInstitutions - Total 0.01Triparty Repo 1.31Net Current Assets/(Liabilities) 0.68Grand Total 100.00

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity and equity related instruments. However, there is no assurance that the objective of the scheme will be realized.




Ratios


Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investments Horizon: 3 years & above

Load StructureEntry 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 redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units: Nil.


Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

56.04%

0.92

0.77

11.77%

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

An open-ended equity scheme following contrarian investment strategy

KOTAK INDIA EQ CONTRA FUND



PORTFOLIO




12

Product Label

Fund Manager: Ms. Shibani Kurian*

AAUM: `874.78 crs

AUM: `882.66 crs

Benchmark: NIFTY 100 TRI


Folio count: 52,454

Investment style


Large

Medium

Small


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 BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Alpha is difference of scheme return with benchmark return.Kotak India EQ Contra Fund NAV as on November 29, 2019: ̀ 20.037 (Dividend Option), ̀ 22.612 (Direct Dividend Option), ̀ 54.757 (Growth Option), ̀ 59.86 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.

Monthly SIP of 10000(`)



Scheme Returns (%)


Alpha

Nifty 100 (TRI) ( )#`




17,30,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

43,93,543 22,71,779 13,08,790 7,92,357 4,18,850 1,27,598

12.02 12.27 12.46 11.08 10.12 12.04

12.01 11.91 12.17 11.04 10.53 13.57

0.01 0.36 0.29 0.04 -0.42 -1.53

43,88,781 22,28,910 12,95,292 7,91,523 4,21,411 1,28,544

42,41,545 21,92,585 12,88,625 7,98,760 4,28,128 1,28,936

11.59 11.60 12.03 11.41 11.62 14.21

39.83

39.13

14.14

17.76

13.10

9.00

10.81

8.20

2.31

4.42

3.10

4.19

5.66

4.02

0.23

3.00

1.04

2.22

0.22

2.12

Benchmark

Scheme

Financial Services Energy Consumer Goods Information Technology Cement & Cement Products

Construction Automobile Industrial Manufacturing Services Textiles

7

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity & equity related instruments across market ........capitalisation and sectors.

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 & Growth ......(applicable for all plans)


Ratios


Minimum Investment AmountThe scheme is a close ended scheme. The units of the scheme can be traded on the stock exchange.

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: Nil. (applicable for all plans)

Total Expense Ratio**Regular:1.28%; Direct: 0.34%


Equity & Equity related ICICI Bank Ltd. Banks 8.41ITC Ltd. Consumer Non Durables 7.62Reliance Industries Ltd. Petroleum Products 6.43State Bank Of India Banks 4.68HDFC Bank Ltd. Banks 3.72Infosys Ltd. Software 3.51Kotak Mahindra Bank Ltd. Banks 3.40Axis Bank Ltd Banks 3.26JMC Projects (India) Ltd Construction 3.18Emami Ltd. Consumer Non Durables 2.82Mahindra & Mahindra Ltd. Auto 2.67CESC Ltd. Power 2.37Bharat PetroleumCorporation Ltd. Petroleum Products 2.14SRF Ltd. Textile Products 2.14Indiamart intermesh ltd. Retailing 2.06Hindustan PetroleumCorporation Ltd Petroleum Products 1.89Bharti Airtel Ltd. Telecom - Services 1.88Federal Bank Ltd. Banks 1.82Larsen And Toubro Ltd. Construction Project 1.68The Ramco Cements Ltd Cement 1.67Hero MotoCorp Ltd. Auto 1.64Jindal Steel & Power Ltd. Ferrous Metals 1.57Prataap Snacks Ltd Consumer Non Durables 1.51Laurus Labs Ltd Pharmaceuticals 1.45CNX NIFTY - 10500.000 -Put Option - December 2020 1.44PNC Infratech Ltd Construction 1.42Colgate Palmolive(India) Ltd. Consumer Non Durables 1.26Kalpataru PowerTransmission Ltd. Power 1.12Bharat Electronics Ltd Industrial Capital Goods 1.07

Solara Active PharmaSciences Ltd. Pharmaceuticals 1.05Tata Motors Ltd. Auto 1.04Shree Cement Ltd. Cement 1.02Ultratech Cement Ltd. Cement 0.98Motherson SumiSystems Ltd. Auto Ancillaries 0.94Titan Company Ltd. Consumer Durables 0.94Mahindra LifespaceDevelopers Ltd Construction 0.93GMR Infrastructure Ltd. Construction Project 0.80Saregama India Ltd. Media and Entertainment 0.80JK Cement Ltd. Cement 0.72CESC Ventures Ltd. Software 0.68Future Retail Ltd. Retailing 0.64Suven life Sciences Ltd. Pharmaceuticals 0.60HDFC Standard LifeInsurance Company Ltd Finance 0.56KNR Constructions Ltd. Construction 0.52Jubilant Foodworks Limited Consumer Non Durables 0.02Equity & EquityRelated - Total 90.63Futures HDFC Bank Ltd.-DEC2019 2.48Jubilant FoodworksLimited-DEC2019 1.69Sun TV NetworkLtd.-DEC2019 1.18TERM DEPOSITS HDFC Bank Ltd. 1.58Term Deposits - Total 1.58Triparty Repo 5.47Net Current Assets/(Liabilities) 0.88Grand Total 100.00

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.

Multicap fund - A 36 months close ended equity scheme investing across large cap,midcap and small cap stocks

KOTAK INDIA GROWTH FUND SERIES 4



PORTFOLIO


Kotak India Growth Fund Series 4 NAV as on November 29, 2019: ̀ 9.606 (Dividend Option), ̀ 9.756 (Direct Dividend Option), ̀ 9.606 (Growth Option), ̀ 9.765 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61.

Investment style


Large

Medium

Small

Fund Manager: Mr. Devender Singhal* (w.e.f. January 24, 2019)

AAUM: `411.78 crs

AUM: `411.32 crs


Allotment date: February 20, 2018

Folio count: 15,134


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label


13

Note: #Term Deposit as provided above is towards margin for derivatives transactionsEquity Derivative Exposuer is 5.35%

38.50

28.33

13.33

18.56

13.65

13.95

3.18

8.54

6.00

6.30

2.35

4.40

10.39

3.51

3.94

3.102.56

0.34

2.14

Benchmark

Scheme

Financial Services Consumer Goods Energy Construction Automobile Cement & Cement Products

Information Technology Pharma Cash & Cash Equivalent Textiles

Investment ObjectiveTo generate capital appreciation from a diversified portfolio of equity & equity related instruments across market .........capitalisation and sectors.


Available Plans/OptionsA)Regular Plan B) Direct Plan



Ratios







Reliance Industries Ltd. Petroleum Products 11.77HDFC Bank Ltd. Banks 10.01Maruti Suzuki India Limited Auto 5.00

Bajaj Finance Limited Finance 3.88Bandhan Bank Limited Banks 2.95Sun PharmaceuticalsIndustries Ltd. Pharmaceuticals 2.94P I Industries Ltd Pesticides 2.91Tata Motors Ltd. Auto 2.85

APL Apollo Tubes Limited Ferrous Metals 2.83Inter Globe Aviation Ltd Transportation 2.55Motherson SumiSystems Ltd. Auto Ancillaries 2.54SRF Ltd. Textile Products 2.51

Coromandel

International Ltd. Fertilisers 2.49Persistent Systems Limited Software 2.41

GE Power India Limited Industrial Capital Goods 2.40

Indiamart intermesh ltd. Retailing 2.35Titan Company Ltd. Consumer Durables 2.33

Mahindra Lifespace

Developers Ltd Construction 2.26Ratnamani Metals &Tubes Ltd. Ferrous Metals 2.15Solar IndustriesIndia Limited Chemicals 2.12

Schaeffler India Ltd Industrial Products 2.10Container Corporationof India Ltd. Transportation 1.97

Amara Raja Batteries Ltd. Auto Ancillaries 1.87Affle (India) Ltd. Software 1.79Cadila Healthcare Ltd. Pharmaceuticals 1.64

Rail Vikas Nigam Limited. Construction 1.60Lupin Ltd. Pharmaceuticals 1.55AIA Engineering Limited Industrial Products 1.51

Gujarat Gas Ltd Gas 1.50Hindustan Oil ExplorationCompany Ltd. Oil 1.44

CRISIL Ltd. Finance 1.21HDFC Standard Life


Saregama India Ltd. Media and Entertainment 1.09Bharat Forge Ltd. Industrial Products 1.07

Suven life Sciences Ltd. Pharmaceuticals 1.07

IndusInd Bank Ltd. Banks 1.06Edelweiss FinancialServices Ltd Finance 1.05

Vinati Organics Ltd Chemicals 1.04ABB Ltd. Industrial Capital Goods 0.55

RBL Bank Ltd Banks 0.42

Indian Railway Catering

And Tourism

Corporation Ltd Services 0.10

Equity & EquityRelated - Total 98.07Triparty Repo 1.96Net Current Assets/(Liabilities) -0.03Grand Total 100.00

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




PORTFOLIO



Investment style


Large

Medium

Small

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.


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

Fund Manager: Mr. Harish Krishnan* (w.e.f. January 24, 2019)

AAUM: `375.22 crs

AUM: `382.24 crs


Allotment date: May 15, 2018

Folio count: 4,604


14

Fertilisers & Pesticides

38.50

21.77

13.65

14.71

6.00

12.26

0.83

7.64

3.94

7.20

0.72

5.40

2.80

4.98

13.33

4.68

1.13

4.61

10.39

4.20

Benchmark

Scheme

Financial Services Energy Automobile Industrial Manufacturing Pharma

Metals Consumer Goods Services Information Technology

Investment ObjectiveThe investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of .........predominantly equity and equity-related securities of companies involved in ........economic development of India as a result of potential investments in infrastructure and unfolding economic reforms. However, there is no assurance that the objective of the scheme will be realized.


Options: Dividend Payout, Dividend ..........Reinvestment & Growth (applicable for all plans)


Ratios


Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: `1000 & in ........multiples of ̀ 1Ideal Investments Horizon: 3 years & above

Load StructureEntry 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;


7

7.56%

0.92

0.09

16.93%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation




Ultratech Cement Ltd. Cement 4.92

Solar Industries

India Limited Chemicals 4.40

Thermax Ltd. Industrial Capital Goods 3.97

Container Corporation

of India Ltd. Transportation 3.59

Indraprastha Gas Ltd. Gas 3.46


BEML Ltd Industrial Capital Goods 3.31

Supreme

Industries Limited Industrial Products 3.29

JMC Projects (India) Ltd Construction 3.23

Schaeffler India Ltd Industrial Products 3.13

AIA Engineering Limited Industrial Products 3.05

GE Power India Limited Industrial Capital Goods 3.01

Gujarat Gas Ltd Gas 3.01

H G Infra Engineering Ltd. Construction Project 2.73

PNC Infratech Ltd Construction 2.66


National Thermal Power

Corporation Limited Power 2.35


SKF India Ltd Industrial Products 2.15

Rail Vikas Nigam Limited. Construction 2.14

Bharat Electronics Ltd Industrial Capital Goods 2.08

Hindustan Oil Exploration

Company Ltd. Oil 1.94

APL Apollo Tubes Limited Ferrous Metals 1.88

Kalpataru Power


Kajaria Ceramics Ltd. Construction 1.80

Ratnamani Metals &

Tubes Ltd. Ferrous Metals 1.78

CESC Ltd. Power 1.73

Cummins India Ltd. Industrial Products 1.60

Mahindra Lifespace

Developers Ltd Construction 1.44

ABB Ltd. Industrial Capital Goods 1.25

Amara Raja Batteries Ltd. Auto Ancillaries 1.19

WPIL Ltd Industrial Products 1.12

GAIL (India) Ltd. Gas 1.09


Sadbhav Engineering Ltd. Construction Project 0.88

Adani Port and Special

Economic Zone Limited Transportation 0.86

Techno Electric & Engineering

Company Limited Construction Project 0.81

Equity & Equity


Triparty Repo 1.59

Net Current Assets/

(Liabilities) -0.39

Grand Total 100.00

This product is suitable for investors who are seeking*:� Long term capital growth� Long term capital appreciation by investing in equity and

equity related instruments of companies contributing to infrastructure and economic development of India


Investors understand that their principal will be at high risk

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

An open-ended equity scheme following infrastructure & economic reform

KOTAK INFRASTRUCTURE &ECONOMIC REFORM FUND



PORTFOLIO




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 BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Alpha is difference of scheme return with benchmark return.Kotak Infrastructure & Economic Reform Fund NAV as on November 29, 2019: ̀ 17.497 (Dividend Option), ̀ 21.409 (Direct Dividend Option), ̀ 19.803 (Growth Option), ̀ 21.655 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.

15

Investment style


Large

Medium

Small

Fund Manager: Mr. Harish Krishnan*

AAUM: `349.33 crs

AUM: `346.50 crs

Benchmark: India Infrastructure

Index (Customised

Index by IISL)


Folio count: 22,230

Riskometer

Product Label


Monthly SIP of ) 10000(`



Scheme Returns (%)

India Infrastructure Index (Customised Index by IISL)(TRI) Returns (%)

Alpha

India Infrastructure Index (Customised Index by IISL) (TRI) ( )#`




14,20,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000

26,98,668 20,00,874 11,92,755 6,65,057 3,58,590 1,22,404

10.35 9.88 9.86 4.07 -0.26 3.76

11.83 11.60 12.03 11.41 11.62 14.21

-1.48 -1.72 -2.17 -7.33 -11.88 -10.44

29,68,995 21,92,585 12,88,625 7,98,760 4,28,128 1,28,936

29,68,995 21,92,585 12,88,625 7,98,760 4,28,128 1,28,936

11.83 11.60 12.03 11.41 11.62 14.21

10.56

27.96

9.51

21.84

26.32

18.75

12.80

13.28

6.89

5.334.39

4.44

3.65

11.55

2.381.23

2.53

1.19

Benchmark

Scheme

Industrial Manufacturing Construction Energy Cement & Cement Products Services

Chemicals Metals Financial Services Cash & Cash Equivalent Automobile

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity & equity related instruments across market capitalisation and sectors. It also endeavors to manage risks through equity derivatives.


Available Plans/OptionsA)Regular Plan B) Direct Plan



Ratios












HDFC Ltd. Finance 3.41

ITC Ltd. Consumer Non Durables 3.07

Tata Consultancy

Services Ltd. Software 3.06




Bharat Petroleum

Corporation Ltd. Petroleum Products 2.44



Kalpataru Power


CNX NIFTY - 11400.000 -

Put Option - June 2021 2.16

SRF Ltd. Textile Products 2.01


Supreme Industries Limited Industrial Products 1.99

Gujarat State Petronet Ltd. Gas 1.86

Bajaj Finance Limited Finance 1.83

Aavas Financiers Ltd Finance 1.67


HDFC Standard Life


Container Corporation

of India Ltd. Transportation 1.47

Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.38

Colgate Palmolive

(India) Ltd. Consumer Non Durables 1.31

ICICI Lombard General





CNX NIFTY - 11200.000 -

Put Option - June 2021 0.65

Equity & Equity


Net Current Assets/

(Liabilities) 2.08

Grand Total 100.00

Multicap Fund - A 36 months close ended equity scheme investing across large cap,midcap and small cap stocks.




PORTFOLIO



Investment style


Large

Medium

Small

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.


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

Fund Manager: Ms. Shibani Kurian*

AAUM: `34.50 crs

AUM: `34.97 crs


Allotment date: August 31, 2018

Folio count: 561


16


41.25

41.89

15.39

17.29

12.36

8.44

11.47

6.824.51

3.31

4.112.81

2.57

0.60

2.442.07

Benchmark

Scheme

Financial Services Energy Information Technology Consumer Goods Cement & Cement Products

Construction Others Automobile Services Cash & Cash Equivalent

1.59 5.65

Maturity

Short Medium Long Volatility

Low

Medium

High

7

An open-ended scheme investing in arbitrage opportunities

KOTAK EQUITYARBITRAGE FUND

17

Fund Manager: Mr. Rukun Tarachandani

& Mr. Hiten Shah*

AAUM: `16,630.04 crs

AUM: `17,362.55 crs

Benchmark: Nifty 50 Arbitrage Index


Folio count: 31,846

Investors understand that their principal will be at moderately low risk

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:� Income from arbitrage opportunities in the equity market� Investment in arbitrage opportunities in the cash &

derivatives segment of the equity market.* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

Riskometer

Product Label

*For Fund Manager experience, please refer page 62-64, Mr. Hiten Shah has been managing the fund since 03/10/2019. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.


Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets Derivatives


Hedged

Reliance Industries Ltd. Petroleum Products 5.53 -5.55

HDFC Ltd. Finance 4.94 -4.96

ITC Ltd. Consumer Non Durables 3.25 -3.26

Bajaj Finance Limited Finance 2.00 -2.01

Bharat Petroleum Corporation Ltd. Petroleum Products 1.94 -1.95

Axis Bank Ltd Banks 1.91 -1.92

Hindustan Unilever Ltd. Consumer Non Durables 1.81 -1.82

Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.81 -1.82

Tata Consultancy Services Ltd. Software 1.76 -1.77

Grasim Industries Ltd. Cement 1.75 -1.76

Larsen And Toubro Ltd. Construction Project 1.71 -1.72

Infosys Ltd. Software 1.43 -1.44

Asian Paints Ltd. Consumer Non Durables 1.41 -1.41

Ultratech Cement Ltd. Cement 0.94 -0.95

Shriram Transport Finance Co Ltd. Finance 0.93 -0.93

Hindustan Petroleum Corporation Ltd Petroleum Products 0.92 -0.93

Vedanta Ltd. Non - Ferrous Metals 0.91 -0.92

Bajaj Finserv Ltd. Finance 0.90 -0.91

GAIL (India) Ltd. Gas 0.90 -0.90

Mahindra & Mahindra Ltd. Auto 0.90 -0.91

HCL Technologies Ltd. Software 0.89 -0.89

Maruti Suzuki India Limited Auto 0.86 -0.87

Zee Entertainment Enterprises Ltd Media and Entertainment 0.78 -0.78

Adani Port and Special Economic Zone Limited Transportation 0.76 -0.77

Petronet LNG Ltd. Gas 0.75 -0.75

Tech Mahindra Ltd. Software 0.70 -0.70

Bharti Airtel Ltd. Telecom - Services 0.69 -0.69

Federal Bank Ltd. Banks 0.67 -0.68

State Bank Of India Banks 0.63 -0.63

Tata Motors Ltd. Auto 0.62 -0.62

Bank Of Baroda Banks 0.60 -0.60

JSW Steel Ltd. Ferrous Metals 0.60 -0.60

United Spirits Ltd. Consumer Non Durables 0.60 -0.60

Hero MotoCorp Ltd. Auto 0.59 -0.60

Tata Power Co. Ltd. Power 0.56 -0.57

Godrej Consumer Products Ltd. Consumer Non Durables 0.55 -0.55

Max Financial Services Ltd. Finance 0.54 -0.54

Lupin Ltd. Pharmaceuticals 0.51 -0.51

UPL Ltd Pesticides 0.51 -0.51

Aurobindo Pharma Ltd. Pharmaceuticals 0.50 -0.50

Hindalco Industries Ltd Non - Ferrous Metals 0.49 -0.49

HDFC Bank Ltd. Banks 0.47 -0.47

Titan Company Ltd. Consumer Durables 0.46 -0.46

National Thermal Power Corporation Limited Power 0.45 -0.45

Mahindra & Mahindra Financial Services Ltd. Finance 0.44 -0.44

ACC Ltd. Cement 0.42 -0.42

Dr Reddys Laboratories Ltd Pharmaceuticals 0.42 -0.42

Exide Industries Ltd Auto Ancillaries 0.40 -0.40

Rural Electrification Corporation Ltd Finance 0.38 -0.38

Dabur India Ltd Consumer Non Durables 0.37 -0.38

Mahanagar Gas Ltd Gas 0.35 -0.35

Tata Steel Limited. Ferrous Metals 0.35 -0.35

Jindal Steel & Power Ltd. Ferrous Metals 0.34 -0.35

Pidilite Industries Ltd. Chemicals 0.34 -0.34

Adani Enterprises Ltd Trading 0.33 -0.33

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and by investing the balance in debt and money market instruments.



Dividend FrequencyFortnightly (Every alternate Monday from the 1st record date), Monthly (Monday preceding the last Thursday of the month), Bimonthly (Monday preceding the last Thursday of the following months - January, March, May, July, September, November)

Ratios


Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: `1000 & in multiples of ̀ 1Ideal Investments Horizon: 3 months & above

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: a) For redemptions/switch outs (including SIP/STP) within 30 days from the date of allotment of units: 0.25%b) For redemptions/switch outs (including SIP/STP) after 30 days from the date of allotment of units: Nil


319.97%

0.46

1.55

0.48%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

PORTFOLIO

18


PORTFOLIO


Cipla Ltd. Pharmaceuticals 0.33 -0.34

Eicher Motors Ltd Auto 0.33 -0.34

Container Corporation of India Ltd. Transportation 0.32 -0.32

LIC Housing Finance Ltd. Finance 0.32 -0.32

Nestle India Ltd. Consumer Non Durables 0.32 -0.32

Bharat Heavy Electricals Ltd. Industrial Capital Goods 0.31 -0.31

Power Finance Corporation Ltd. Finance 0.30 -0.30

Bajaj Auto Ltd. Auto 0.28 -0.28

Manappuram Finance Ltd Finance 0.27 -0.27

Torrent Power Ltd Power 0.27 -0.28

Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.26 -0.26

Divi s Laboratories Limited Pharmaceuticals 0.26 -0.26

Punjab National Bank Banks 0.26 -0.26

Muthoot Finance Ltd Finance 0.25 -0.25

Britannia Industries Ltd. Consumer Non Durables 0.23 -0.23

NMDC Ltd. Minerals/Mining 0.23 -0.23

GMR Infrastructure Ltd. Construction Project 0.22 -0.22

Adani Power Ltd Power 0.20 -0.20

Marico Ltd. Consumer Non Durables 0.19 -0.19

Tata Motors Ltd - DVR Auto 0.19 -0.19

Apollo Hospitals Enterprises Ltd. Healthcare Services 0.18 -0.18

Inter Globe Aviation Ltd Transportation 0.17 -0.17

PVR Ltd Media and Entertainment 0.17 -0.17

Ujjivan Financial Services Ltd Finance 0.17 -0.17

United Breweries Ltd. Consumer Non Durables 0.17 -0.17

Escorts Ltd. Auto 0.15 -0.15

Motherson Sumi Systems Ltd. Auto Ancillaries 0.15 -0.15

Power Grid Corporation Of India Ltd Power 0.14 -0.14

Ambuja Cements Ltd Cement 0.13 -0.13

Cadila Healthcare Ltd. Pharmaceuticals 0.13 -0.13

Century Textiles & Industries Ltd. Paper 0.13 -0.13

Sun TV Network Ltd. Media and Entertainment 0.13 -0.13

Bata India Ltd. Consumer Durables 0.12 -0.12

Union Bank Of India Banks 0.12 -0.12

Voltas Ltd. Consumer Durables 0.11 -0.11

CESC Ltd. Power 0.10 -0.10

L&T Finance Holdings Ltd Finance 0.10 -0.10

Shree Cement Ltd. Cement 0.10 -0.10

Ashok Leyland Ltd. Auto 0.08 -0.08

Indiabulls Housing Finance Ltd. Finance 0.08 -0.08

Siemens Ltd. Industrial Capital Goods 0.08 -0.08

SRF Ltd. Textile Products 0.08 -0.08

Tata Chemicals Ltd. Chemicals 0.08 -0.08

Castrol (India ) Ltd. Petroleum Products 0.07 -0.08

MindTree Ltd. Software 0.07 -0.07

NCC Limited Construction Project 0.07 -0.07

Oil & Natural Gas Corporation Ltd. Oil 0.07 -0.07

DLF Limited Construction 0.06 -0.06

Steel Authority of India Ltd. Ferrous Metals 0.06 -0.06

Tata Elxsi Ltd. Software 0.06 -0.06

Equitas Holdings Ltd Finance 0.05 -0.05

NBCC (India) Ltd Construction 0.05 -0.05

Tata Global Beverages Limited Consumer Non Durables 0.05 -0.05

Wipro Ltd. Software 0.05 -0.05

Page Industries Ltd Textile Products 0.04 -0.04

Canara Bank Banks 0.03 -0.03

Glenmark Pharmaceuticals Ltd Pharmaceuticals 0.03 -0.03

KOTAK EQUITY ARBITRAGE FUND

Note:Term Deposit as provided above is towards margin for derivatives transactionsEquity Derivative Exposuer is 65.96%

Kotak Equity Arbitrage Fund NAV as on November 29, 2019: ̀ 10.7037 (Monthly Dividend Option), ̀ 11.1106 (Direct monthly Dividend Option), ̀ 27.5198 (Growth Option), `28.4701 (Direct Growth Option), `19.9691 (Bimonthly Dividend), `20.162 (Direct Bimonthly Dividend), `23.0845 (Fortnightly Dividend), `23.5596 (Direct Fortnightly Dividend)


19



PORTFOLIO

Havells India Ltd. Consumer Durables 0.03 -0.03

Bosch Limited Auto Ancillaries 0.02 -0.02

Dish TV India Ltd. Media and Entertainment 0.02 -0.02

Amara Raja Batteries Ltd. Auto Ancillaries 0.01 -0.01

ICICI Prudential Life Insurance Company Ltd Finance 0.01 -0.01

Indraprastha Gas Ltd. Gas 0.01 -0.01

Just Dial Limited Software 0.01 -0.01

Oil India Limited Oil 0.01 -0.01

Hedged - Total 65.66 -65.96

Equity & Equity Related - Total 65.66 -65.96

Mutual Fund Units

Kotak Liquid Fund Direct Plan Growth 8.94

Mutual Fund Units - Total 8.94

Debt Instruments

Debentures and Bonds

Corporate Debt/Financial Institutions

HDFC Ltd. CRISIL AAA 2.77

Corporate Debt/Financial Institutions - Total 2.77

Public Sector Undertakings

Power Finance Corporation Ltd. CRISIL AAA 0.58

Public Sector Undertakings - Total 0.58

Money Market Instruments

Commercial Paper(CP)/Certificate of Deposits(CD)


HDFC Ltd. CRISIL A1+ 2.78

LIC Housing Finance Ltd. CRISIL A1+ 1.65

Tata Capital Financial Services Limited CRISIL A1+ 0.84


TERM DEPOSITS

HDFC Bank Ltd. 8.57

AXIS Bank Ltd. 5.44

Federal Bank Ltd. 0.63

IDFC First Bank Limited 0.43

AU Small Finance Bank Ltd. 0.29

Equitas Small Finance Bank Ltd. ( ) 0.14

Term Deposits - Total 15.50

Triparty Repo 0.98

Net Current Assets/(Liabilities) 0.30

Grand Total 100.00

KOTAK EQUITY ARBITRAGE FUND

16.48 11.68 9.21 8.94 8.465.27

4.974.69

4.003.99

22.31

TREP & Term Deposits & Rev.Repo Finance Consumer Non Durables Unrated Petroleum Products

Commercial Paper (CP)/Certificate of Deposits (CD) Software Banks Auto Pharmaceuticals REST

7

An open ended dynamic asset allocation fund

KOTAK BALANCEDADVANTAGE FUND

20


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:� Wealth creation over a long period of time.� Investment in equity, equity related securities &

debt, money market instruments while managing risk through active allocation.

� Investors should consult their financial advisors if in doubt about whether the product is suitable for them.


Product Label

Fund Manager: Mr. Harish Krishnan Mr. Hiten Shah

Mr. Abhishek Bisen Mr. Arjun Khanna*

AAUM: `3,129.80 crs

AUM: `3,246.15 crs

Benchmark: NIFTY 50 Hybrid Composite Debt

50:50 Index


Folio count: 73,542


Investment style


Large

Medium

Small

Maturity


Low

Medium

High

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation by investing in a dynamically balanced portfolio of equity & equity related securities and debt & money market securities.



Dividend FrequencyTrustee's Discretion

Ratios

Minimum Investment AmountInitial Investment: `1000 and in multiple of `1 for purchase and of ̀ 0.01 for switchesAdditional Investment: `1000 & in multiples of ̀ 1

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: a) For redemption/switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil.b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%.c) If units are redeemed or switched out on or alter 1 year from the date of allotment: Nil.




Equity & Equity relatedNon-Hedged CNX BANK INDEX-DEC2019 -0.84CNX NIFTY-DEC2019 -0.15Reliance Industries Ltd. Petroleum Products 3.50 HDFC Bank Ltd. Banks 3.38 ICICI Bank Ltd. Banks 3.22 Axis Bank Ltd Banks 2.03 Infosys Ltd. Software 1.99 HDFC Ltd. Finance 1.79 Larsen And Toubro Ltd. Construction Project 1.77 Kotak Mahindra Bank Ltd. Banks 1.38 Tata Consultancy Services Ltd. Software 1.35 State Bank Of India Banks 1.23 Bharat Petroleum Corporation Ltd. Petroleum Products 1.06 Maruti Suzuki India Limited Auto 0.94 Container Corporation of India Ltd. Transportation 0.89 ITC Ltd. Consumer Non Durables 0.80 Asian Paints Ltd. Consumer Non Durables 0.77 Bandhan Bank Limited Banks 0.73 Coromandel International Ltd. Fertilisers 0.67 Pfizer Ltd. Pharmaceuticals 0.67 Rail Vikas Nigam Limited. Construction 0.67 Cadila Healthcare Ltd. Pharmaceuticals 0.62 ICICI Lombard General Insurance Company Ltd Finance 0.60 APL Apollo Tubes Limited Ferrous Metals 0.56 Bajaj Finance Limited Finance 0.55 Schaeffler India Ltd Industrial Products 0.55 Bharat Electronics Ltd Industrial Capital Goods 0.54 Motherson Sumi Systems Ltd. Auto Ancillaries 0.54 Ultratech Cement Ltd. Cement 0.52 Eicher Motors Ltd Auto 0.51 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.51 Persistent Systems Limited Software 0.51 Tech Mahindra Ltd. Software 0.51 Mahindra & Mahindra Financial Services Ltd. Finance 0.48 Inter Globe Aviation Ltd Transportation 0.45 HDFC Standard Life Insurance Company Ltd Finance 0.44 Mahindra Lifespace Developers Ltd Construction 0.44 Max Financial Services Ltd. Finance 0.44 Tata Global Beverages Limited Consumer Non Durables 0.44 Gujarat Gas Ltd Gas 0.43 Shree Cement Ltd. Cement 0.43 National Thermal Power Corporation Limited Power 0.42 Indraprastha Gas Ltd. Gas 0.41 Tata Steel Limited. Ferrous Metals 0.41 AU Small Finance Bank Ltd. Banks 0.40 The Ramco Cements Ltd Cement 0.40 Hindustan Zinc Ltd. Non - Ferrous Metals 0.39 Supreme Industries Limited Industrial Products 0.36 Ratnamani Metals & Tubes Ltd. Ferrous Metals 0.30 Page Industries Ltd Textile Products 0.21 RBL Bank Ltd Banks 0.18 Solar Industries India Limited Chemicals 0.14 Affle (India) Ltd. Software 0.10 Non-Hedged- Total 42.63 -0.99Hedged Reliance Industries Ltd. Petroleum Products 3.66 -3.66ITC Ltd. Consumer Non Durables 1.46 -1.46

PORTFOLIO

Kotak Balanced Advantage Fund � Asset Allocation

Source: Internal Calculation. Data as on 30th November 2019. It�s Automatic: A fund that gives you freedomfrom managing equity and debt allocation manually during the market ups and down, giving you a balanced growth.Mutual fund investment are subject to market risk, read all scheme related documents carefully.

KBAF – It’s Automatic 60.0

50.0

40.0

30.0

20.0

10.0

0.0

12500

12000

11500

11000

10500

10000

9500 Au

g-18

Sep-18

Oct-18

No

v-18

Dec-18

Jan-19

Feb-19

Mar-19

Ap

r-19

May-19

Jun

-19

Jul-19

Au

g-19

Sep-19

Oct-19

No

v-19

K-BAF Net Equity(RHS)

12056.05

41.56

Nifty 50 Index Value (LHS) Portfolio Details % of Net AssetsNet Equity 41.64Arbitrage 24.05

Debt and Cash 34.31

21


PORTFOLIO

KOTAK BALANCED ADVANTAGE FUND


HDFC Ltd. Finance 1.28 -1.28Bajaj Finance Limited Finance 1.02 -1.02Larsen And Toubro Ltd. Construction Project 0.89 -0.89Tech Mahindra Ltd. Software 0.86 -0.86Grasim Industries Ltd. Cement 0.80 -0.81Adani Enterprises Ltd Trading 0.77 -0.77Nestle India Ltd. Consumer Non Durables 0.73 -0.74Mahindra & Mahindra Ltd. Auto 0.72 -0.73Axis Bank Ltd Banks 0.70 -0.70Mahindra & Mahindra Financial Services Ltd. Finance 0.62 -0.62HDFC Bank Ltd. Banks 0.59 -0.59Bajaj Finserv Ltd. Finance 0.58 -0.59Cadila Healthcare Ltd. Pharmaceuticals 0.50 -0.50Lupin Ltd. Pharmaceuticals 0.46 -0.46Dr Reddys Laboratories Ltd Pharmaceuticals 0.44 -0.44Bharat Petroleum Corporation Ltd. Petroleum Products 0.41 -0.41Infosys Ltd. Software 0.41 -0.41Tata Consultancy Services Ltd. Software 0.38 -0.38GAIL (India) Ltd. Gas 0.37 -0.37State Bank Of India Banks 0.37 -0.37Adani Power Ltd Power 0.34 -0.35Hindustan Unilever Ltd. Consumer Non Durables 0.33 -0.34Jindal Steel & Power Ltd. Ferrous Metals 0.33 -0.33Shriram Transport Finance Co Ltd. Finance 0.32 -0.32Bharti Airtel Ltd. Telecom - Services 0.30 -0.30Max Financial Services Ltd. Finance 0.27 -0.27Marico Ltd. Consumer Non Durables 0.26 -0.26Bank Of Baroda Banks 0.23 -0.23JSW Steel Ltd. Ferrous Metals 0.22 -0.22Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.22 -0.22Petronet LNG Ltd. Gas 0.17 -0.17ACC Ltd. Cement 0.16 -0.16Asian Paints Ltd. Consumer Non Durables 0.16 -0.16Aurobindo Pharma Ltd. Pharmaceuticals 0.15 -0.15Glenmark Pharmaceuticals Ltd Pharmaceuticals 0.15 -0.15Divi s Laboratories Limited Pharmaceuticals 0.13 -0.13Mahanagar Gas Ltd Gas 0.13 -0.13Container Corporation of India Ltd. Transportation 0.12 -0.12Dish TV India Ltd. Media and Entertainment 0.12 -0.12Hindustan Petroleum Corporation Ltd Petroleum Products 0.12 -0.12Pidilite Industries Ltd. Chemicals 0.12 -0.12Vedanta Ltd. Non - Ferrous Metals 0.12 -0.12Exide Industries Ltd Auto Ancillaries 0.11 -0.11L&T Finance Holdings Ltd Finance 0.11 -0.11Godrej Consumer Products Ltd. Consumer Non Durables 0.10 -0.10Oil India Limited Oil 0.10 -0.10Ultratech Cement Ltd. Cement 0.10 -0.10Adani Port and Special Economic Zone Limited Transportation 0.09 -0.09Tata Motors Ltd - DVR Auto 0.09 -0.09HCL Technologies Ltd. Software 0.08 -0.08Cipla Ltd. Pharmaceuticals 0.07 -0.07Tata Chemicals Ltd. Chemicals 0.07 -0.07Bharat Heavy Electricals Ltd. Industrial Capital Goods 0.06 -0.06Federal Bank Ltd. Banks 0.06 -0.06Hero MotoCorp Ltd. Auto 0.05 -0.05Voltas Ltd. Consumer Durables 0.05 -0.05Punjab National Bank Banks 0.04 -0.04Tata Motors Ltd. Auto 0.04 -0.04Tata Power Co. Ltd. Power 0.04 -0.04Union Bank Of India Banks 0.04 -0.04Muthoot Finance Ltd Finance 0.03 -0.03Dabur India Ltd Consumer Non Durables 0.02 -0.02Hindalco Industries Ltd Non - Ferrous Metals 0.02 -0.02Inter Globe Aviation Ltd Transportation 0.02 -0.02Manappuram Finance Ltd Finance 0.02 -0.02Tata Steel Limited. Ferrous Metals 0.02 -0.02Torrent Power Ltd Power 0.02 -0.02Bata India Ltd. Consumer Durables 0.01 -0.01Castrol (India ) Ltd. Petroleum Products 0.01 -0.01Century Textiles & Industries Ltd. Paper 0.01 -0.01Coal India Ltd. Minerals/Mining 0.01 -0.01GMR Infrastructure Ltd. Construction Project 0.01 -0.01National Thermal Power Corporation Limited Power 0.01 -0.01NCC Limited Construction Project 0.01 -0.01NMDC Ltd. Minerals/Mining 0.01 -0.01Titan Company Ltd. Consumer Durables 0.01 -0.01Ujjivan Financial Services Ltd Finance 0.01 -0.01

22


PORTFOLIO

KOTAK BALANCED ADVANTAGE FUND



Term Deposit as provided above is towards margin for derivatives transactionsEquity Derivative Exposuer is 25.10%

United Spirits Ltd. Consumer Non Durables 0.01 -0.01Hedged - Total 24.05 -24.11Equity & Equity Related - Total 66.68 -25.10Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Reliable Devices Trust (Underlying customer Reliance Retail) ICRA AAA(SO) 1.40 Sundaram Finance Ltd. CRISIL AAA 0.01 Corporate Debt/Financial Institutions - Total 1.41 Public Sector Undertakings Power Finance Corporation Ltd. CRISIL AAA 3.25 NHPC Ltd. ICRA AAA 0.31 Public Sector Undertakings - Total 3.56 Government Dated Securities 7.57% Central Government SOV 3.23 7.27% Central Government SOV 2.41 7.26% Central Government SOV 1.28 7.59% Central Government SOV 0.26 Government Dated Securities - Total 7.18 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Muthoot Finance Ltd. CRISIL A1+ 6.16 Corporate Debt/Financial Institutions - Total 6.16 Reverse Repo 3.70 TERM DEPOSITS HDFC Bank Ltd. 5.40 AU Small Finance Bank Ltd. 0.31 Term Deposits - Total 5.71 Triparty Repo 6.59 Net Current Assets/(Liabilities) -0.99 Grand Total 100.00

Scheme Inception : - August 03,2018. 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). The debt component of the index is TRI since inception.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Alpha is difference of scheme return with benchmark return.Kotak Balanced Advantage Fund NAV as on : ̀ 11.178 (Dividend Option), ̀ 11.335 (Direct Dividend Option), ̀ 11.178 (Growth Option) ̀ 11.335 (Direct Growth Option)November 29, 2019*For Fund Manager experience, please refer page 62-64, Mr. Hiten Shah has been managing the fund since 03/10/2019. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.



Since Inception 1 year

1,60,000 1,20,000

1,74,051 1,28,959

12.59 14.24

12.28 13.47

0.31 0.78

1,73,688 1,28,479

1,73,180 1,28,936

11.80 14.21




Scheme Returns (%)

NIFTY 50 Hybrid Composite Debt 50:50 Index Returns (%) $

Alpha

NIFTY 50 Hybrid Composite Debt 50:50 Index ( )# ` $



16.00 14.59 8.74 8.54 7.18 6.18 6.16 5.58 4.97 3.41 18.65

TREP & Term Deposits & Rev.Repo Banks Petroleum Products Finance Government Dated Securities

Software Commercial Paper (CP)/Certificate of Deposits (CD) Consumer Non Durables Debentures and Bonds

Pharmaceuticals REST

7

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

KOTAK EQUITY HYBRID FUND

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

Equity & Equity related ICICI Bank Ltd. Banks 7.37HDFC Bank Ltd. Banks 7.03State Bank Of India Banks 3.53Axis Bank Ltd Banks 3.42Kotak Mahindra Bank Ltd. Banks 3.15Reliance Industries Ltd. Petroleum Products 3.08Infosys Ltd. Software 3.03Larsen And Toubro Ltd. Construction Project 3.00HDFC Ltd. Finance 2.53JK Cement Ltd. Cement 2.08Thermax Ltd. Industrial Capital Goods 2.01AU Small Finance Bank Ltd. Banks 1.81Bharat PetroleumCorporation Ltd. Petroleum Products 1.73Tata Consultancy Services Ltd. Software 1.72ITC Ltd. Consumer Non Durables 1.59P I Industries Ltd Pesticides 1.51Solar Industries India Limited Chemicals 1.42Techno Electric & EngineeringCompany Limited Construction Project 1.42Dr Reddys Laboratories Ltd Pharmaceuticals 1.38Gujarat Gas Ltd Gas 1.34Schaeffler India Ltd Industrial Products 1.33Sun PharmaceuticalsIndustries Ltd. Pharmaceuticals 1.23The Ramco Cements Ltd Cement 1.22Shree Cement Ltd. Cement 1.17Mahindra & Mahindra Ltd. Auto 1.14IndusInd Bank Ltd. Banks 1.08V.S.T Tillers Tractors Ltd Auto 1.02Galaxy Surfactants Ltd Chemicals 1.01APL Apollo Tubes Limited Ferrous Metals 0.93Atul Ltd. Chemicals 0.93Maruti Suzuki India Limited Auto 0.91Dixon Technologies India Ltd Consumer Durables 0.86Kajaria Ceramics Ltd. Construction 0.85Mahindra LifespaceDevelopers Ltd Construction 0.84HDFC Standard Life InsuranceCompany Ltd Finance 0.82MRF Limited Auto Ancillaries 0.82GAIL (India) Ltd. Gas 0.80ICICI Lombard GeneralInsurance Company Ltd Finance 0.80Emami Ltd. Consumer Non Durables 0.79JMC Projects (India) Ltd Construction 0.78Cadila Healthcare Ltd. Pharmaceuticals 0.75Motherson Sumi Systems Ltd. Auto Ancillaries 0.70Supreme Industries Limited Industrial Products 0.68Coromandel International Ltd. Fertilisers 0.65Lupin Ltd. Pharmaceuticals 0.60

National Thermal PowerCorporation Limited Power 0.46RBL Bank Ltd Banks 0.40Finolex Cables Ltd. Industrial Products 0.38Kirloskar Oil Engines Ltd. Industrial Products 0.37Oil & Natural GasCorporation Ltd. Oil 0.34SRF Ltd. Textile Products 0.28Exide Industries Ltd Auto Ancillaries 0.26Equity & EquityRelated - Total 79.35Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Reliable Devices Trust(Underlying customerReliance Retail) ICRA AAA(SO) 1.66ECL Finance Ltd. CRISIL AA- 1.07Shriram TransportFinance Co Ltd. CRISIL AA+ 0.34LIC Housing Finance Ltd. CRISIL AAA 0.04Corporate Debt/FinancialInstitutions - Total 3.11Public Sector Undertakings U P Power Corporation Ltd( Guaranteed By UP StateGovernment ) CRISIL A+(CE) 1.15Power FinanceCorporation Ltd. CRISIL AAA 1.05U P Power Corporation Ltd( Guaranteed By UP StateGovernment ) FITCH IND AA(CE) 1.03Punjab & Sind Bank ICRA A+ 0.85National Bank for Agriculture& Rural Development CRISIL AAA 0.05Public SectorUndertakings - Total 4.13Government Dated Securities 7.57% Central Government SOV 5.027.26% Central Government SOV 3.576.45% Central Government SOV 1.717.69% Central Government SOV 0.73Government DatedSecurities - Total 11.03TERM DEPOSITS HDFC Bank Ltd. 0.31Term Deposits - Total 0.31Triparty Repo 1.38Net Current Assets/(Liabilities) 0.69Grand Total 100.00



23

Investment ObjectiveInvestment objective of the scheme is to achieve growth by investing in equity and equity related instruments, balanced with income generation by investing in debt and money market instruments. However, there is no assurance that the objective of the scheme will be realized.



Dividend FrequencyHalf Yearly (25th of Mar/Sep)

Ratios



Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: a) For redemption/switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil.b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%.c) If units are redeemed or switched out on or alter 1 year from the date of allotment: Nil.



Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


balanced with income generation by investing in debt & money.


Product Label

0.35

10.34%

$Sharpe##

$Standard Deviation

18.96%

1.16

Portfolio Turnover

$Beta

Fund Manager: Mr. Pankaj Tibrewal & Mr. Abhishek Bisen*

AAUM: `1,457.87 crs

AUM: `1,460.75 crs

Benchmark: NIFTY 50 Hybrid Composite Debt

65:35 Index $


Folio count: 39,500

PORTFOLIO


Scheme Inception : - November 03, 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).Alpha is difference of scheme return with benchmark return.Kotak Equity Hybrid Fund NAV as on November 29, 2019: ̀ 15.898 (Dividend Option), ̀ 17.956 (Direct Dividend Option), ̀ 26.389 (Growth Option) ̀ 28.718 (Direct Growth Option)For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61. $ With Effect from 1st November 2019, the Benchmark is changed to Nifty 50 Hybrid Composite Debt 65:35 Index from Nifty 50 Hybrid Composite Debt 70:30 Index.

Investment style


Large

Medium

Small




Maturity


Low

Medium

High




Scheme Returns (%)

NIFTY 50 Hybrid Composite Debt 65:35 Index Returns (%)

Alpha

NIFTY 50 Hybrid Composite Debt 65:35 Index ( )#`



Since Inception 5 years 3 year 1 year

6,10,000 6,00,000 3,60,000 1,20,000

7,54,824 7,39,899 4,02,683 1,30,198

8.33 8.33 7.44 16.26

10.49 10.54 10.80 13.72

-2.16 -2.21 -3.37 2.54

7,97,264 7,81,733 4,23,078 1,28,636

8,14,203 7,98,760 4,28,128 1,28,936

11.32 11.41 11.62 14.21

27.79 11.03 7.244.81

4.754.47

4.424.15

3.963.36

24.02

Banks Government Dated Securities Debentures and Bonds Petroleum Products Software

Cement Construction Project Finance Pharmaceuticals Chemicals REST

7

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

KOTAK EQUITY SAVINGS FUND

24

Investment style


Large

Medium

Small

Maturity


Low

Medium

High

Fund Manager: Mr. Harish Krishnan Mr. Hiten Shah Mr. Abhishek Bisen Mr. Arjun Khanna*AAUM: `1,887.90 crs

AUM: `1,868.68 crsBenchmark: 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 TRIAllotment date: October 13, 2014Folio count: 17,354


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

This product is suitable for investors who are seeking*:� Income from arbitrage opportunities in the equity

market & long term capital growth� Investment predominantly in arbitrage opportunities in

the cash & derivatives segment of the equity market and equity & equity related securities



*For Fund Manager experience, please refer page 62-64, Mr. Hiten Shah has been managing the fund since 03/10/2019. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST.For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.


Non-Hedged

CNX NIFTY-DEC2019 -4.53






Tata Consultancy Services Ltd. Software 1.59




Titan Company Ltd. Consumer Durables 1.16



Asian Paints Ltd. Consumer Non Durables 0.83

GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.82

Tech Mahindra Ltd. Software 0.75



Mahindra & Mahindra Ltd. Auto 0.62



ACC Ltd. Cement 0.48

Motherson Sumi Systems Ltd. Auto Ancillaries 0.44

IndusInd Bank Ltd. Banks 0.40

Britannia Industries Ltd. Consumer Non Durables 0.38

Indraprastha Gas Ltd. Gas 0.38

Jubilant Foodworks Limited Consumer Non Durables 0.37

Varun Beverages Ltd Consumer Non Durables 0.36

Voltas Ltd. Consumer Durables 0.36

Dr Reddys Laboratories Ltd Pharmaceuticals 0.34

Ircon International Ltd Construction Project 0.33

Tata Steel Limited. Ferrous Metals 0.32

Biocon Ltd. Pharmaceuticals 0.31

Bandhan Bank Limited Banks 0.29



Edelweiss Financial Services Ltd Finance 0.22

Chennai Super Kings Cricket Ltd. Media and Entertainment 0.21

Solara Active Pharma Sciences Ltd. Pharmaceuticals 0.20


National Thermal Power Corporation Limited Power 0.15

Affle (India) Ltd. Software 0.12

BEML Ltd Industrial Capital Goods 0.07

Non-Hedged- Total 34.37 -4.53

Hedged

Reliance Industries Ltd. Petroleum Products 6.24 -6.24

HDFC Ltd. Finance 4.74 -4.74

Adani Enterprises Ltd Trading 1.79 -1.80

GMR Infrastructure Ltd. Construction Project 1.41 -1.41

Punjab National Bank Banks 1.13 -1.14

Bajaj Finance Limited Finance 0.99 -0.99

ITC Ltd. Consumer Non Durables 0.90 -0.90

Adani Power Ltd Power 0.86 -0.86


PORTFOLIO

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and enhance returns with a moderate exposure in equity & equity related instruments. There is no assurance or guarantee that the investment objective of the scheme will be achieved.


Options: Dividend Payout, Dividend ........Reinvestment & Growth (applicable for all plans)

Dividend FrequencyMonthly (12th of every month) Quarterly (20th of March, June, September and December of every year)

Ratios


Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: `1000 & in .......multiples of `1 for purchase and for `0.01 for switchesIdeal Investments Horizon: 3 years & above

Load StructureEntry Load: Nil.Exit Load:a) For redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil. b) If units redeemed or switched out are in 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: Nil.



0.82

3.58%

$Sharpe##

$Standard Deviation

1.10$Beta

25




PORTFOLIO

Nestle India Ltd. Consumer Non Durables 0.82 -0.82

Grasim Industries Ltd. Cement 0.79 -0.80

Shriram Transport Finance Co Ltd. Finance 0.70 -0.70

Axis Bank Ltd Banks 0.68 -0.68

Mahindra & Mahindra Financial Services Ltd. Finance 0.67 -0.67

Hindustan Unilever Ltd. Consumer Non Durables 0.61 -0.61

Jindal Steel & Power Ltd. Ferrous Metals 0.57 -0.58

Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.57 -0.58

Bharat Petroleum Corporation Ltd. Petroleum Products 0.52 -0.52

Godrej Consumer Products Ltd. Consumer Non Durables 0.50 -0.50

Infosys Ltd. Software 0.49 -0.49

Asian Paints Ltd. Consumer Non Durables 0.47 -0.47

Tata Consultancy Services Ltd. Software 0.46 -0.46

IndusInd Bank Ltd. Banks 0.45 -0.45

Larsen And Toubro Ltd. Construction Project 0.42 -0.42

JSW Steel Ltd. Ferrous Metals 0.39 -0.39

Max Financial Services Ltd. Finance 0.33 -0.33

Mahindra & Mahindra Ltd. Auto 0.31 -0.31

Hindustan Petroleum Corporation Ltd Petroleum Products 0.30 -0.31

Bharat Heavy Electricals Ltd. Industrial Capital Goods 0.27 -0.27

Hero MotoCorp Ltd. Auto 0.27 -0.27

Aurobindo Pharma Ltd. Pharmaceuticals 0.24 -0.24

Cadila Healthcare Ltd. Pharmaceuticals 0.24 -0.24

Federal Bank Ltd. Banks 0.23 -0.23

Mahanagar Gas Ltd Gas 0.22 -0.22

Petronet LNG Ltd. Gas 0.22 -0.22

Vedanta Ltd. Non - Ferrous Metals 0.21 -0.21

HCL Technologies Ltd. Software 0.19 -0.19

Manappuram Finance Ltd Finance 0.19 -0.19

Dabur India Ltd Consumer Non Durables 0.18 -0.18

Divi s Laboratories Limited Pharmaceuticals 0.18 -0.18

Dish TV India Ltd. Media and Entertainment 0.16 -0.16

Inter Globe Aviation Ltd Transportation 0.14 -0.14

NMDC Ltd. Minerals/Mining 0.14 -0.14

Steel Authority of India Ltd. Ferrous Metals 0.14 -0.14

L&T Finance Holdings Ltd Finance 0.13 -0.13

National Thermal Power Corporation Limited Power 0.13 -0.13

GAIL (India) Ltd. Gas 0.11 -0.11

Container Corporation of India Ltd. Transportation 0.10 -0.10

HDFC Bank Ltd. Banks 0.10 -0.10

Marico Ltd. Consumer Non Durables 0.10 -0.10

Tata Motors Ltd - DVR Auto 0.10 -0.10

Tata Steel Limited. Ferrous Metals 0.10 -0.10

Tech Mahindra Ltd. Software 0.09 -0.09

Union Bank Of India Banks 0.09 -0.09

Bharti Airtel Ltd. Telecom - Services 0.08 -0.08

Lupin Ltd. Pharmaceuticals 0.08 -0.08

Bajaj Finserv Ltd. Finance 0.07 -0.07

Dr Reddys Laboratories Ltd Pharmaceuticals 0.06 -0.06

Bajaj Auto Ltd. Auto 0.05 -0.05

Exide Industries Ltd Auto Ancillaries 0.05 -0.05

Pidilite Industries Ltd. Chemicals 0.05 -0.05

Tata Motors Ltd. Auto 0.05 -0.05

Adani Port and Special Economic Zone Limited Transportation 0.04 -0.04

Century Textiles & Industries Ltd. Paper 0.04 -0.04

26




PORTFOLIO

Note: # Term Deposit as provided above is towards margin for derivatives transactionsEquity Derivative Exposuer is 37.85%

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 BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Alpha is difference of scheme return with benchmark return.Kotak Equity Savings Fund NAV as on November 29, 2019: `14.8727 (Growth Option), `11.5163 (Monthly Dividend Option), `11.3066 (Quarterly Dividend Option), ̀ 15.4169 (Direct Growth Option), ̀ 11.8294 (Direct Monthly Dividend Option), ̀ 11.4485 (Direct Quarterly Dividend Option)




Equitas Holdings Ltd Finance 0.04 -0.04

Oil India Limited Oil 0.04 -0.04

Rural Electrification Corporation Ltd Finance 0.04 -0.04

State Bank Of India Banks 0.04 -0.04

Tata Elxsi Ltd. Software 0.03 -0.03

Torrent Power Ltd Power 0.03 -0.03

Ultratech Cement Ltd. Cement 0.03 -0.03

Coal India Ltd. Minerals/Mining 0.02 -0.02

SRF Ltd. Textile Products 0.02 -0.02

CESC Ltd. Power 0.01 -0.01

Ujjivan Financial Services Ltd Finance 0.01 -0.01

Hedged - Total 33.26 -33.32

Equity & Equity Related - Total 67.63 -37.85

Mutual Fund Units

Kotak Money Market Fund Direct Growth 5.54

Reliance Mutual Fund CPSE ETF Mutual Fund 0.44


Debt Instruments




AXIS Bank Ltd. CRISIL AA+ 2.70


TERM DEPOSITS

HDFC Bank Ltd. 7.33

IDFC First Bank Limited 1.93

Federal Bank Ltd. 1.07

Term Deposits - Total 10.33

Triparty Repo 10.75

Grand Total 100.00




Scheme Returns (%)

75% NIFTY 50 ARBITRAGE + 25% Nifty 50 Returns (%)

Alpha

75% NIFTY 50 ARBITRAGE + 25% Nifty 50 ( )#`



Since Inception 5 years 3 years 1 year

6,20,000 6,00,000 3,60,000 1,20,000

7,58,399 7,28,910 4,02,634 1,25,914

7.74 7.73 7.43 9.34

7.21 7.22 7.32 8.62

0.53 NA 0.11 0.72

7,48,014 7,19,638 4,01,968 1,25,467

8,30,519 7,98,760 4,28,128 1,28,936

11.27 11.41 11.62 14.21

21.08 12.89 12.34 10.5 7.485.54

5.415.29

2.772.47

14.23

TREP & Term Deposits & Rev.Repo Banks Finance Petroleum Products Consumer Non Durables

Unrated Debentures and Bonds Software Construction Project Auto REST

Fund Manager: Mr. Devender Singhal & Mr. Abhishek Bisen*

AAUM: `260.41 crs

AUM: `264.41 crs

Benchmark: CRISIL Hybrid 85+15 -

Conservative Index


Folio count: 5,090

Investment ObjectiveThe investment objective of the scheme is to enhance returns over a portfolio of debt instruments with a moderate exposure in equity and equity related instruments. By investing in debt securities, the scheme will aim at generating regular returns, while enhancement of return is intended through investing in equity and equity related securities. The scheme may also use various derivative and hedging products from time to time, in the manner permitted by SEBI. There is no assurance that the investment objective of the schemes will be realised.


Options: Dividend Payout, Dividend ............Reinvestment & Growth (applicable for all plans)

Dividend FrequencyMonthly (12th of every Month) Quarterly (20th of Mar/Jun/Sep/Dec)

Ratios

$Source: ICRAMFI Explorer.

Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns.

Minimum Investment AmountInitial Investment: (i) Dividend Re-investment & Growth and Dividend Payout (Quarterly) - `5000 & above (ii) Dividend Payout (Monthly) - `50,000 & above Additional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investments Horizon - 1 year & above

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: a) For redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil. b) If units redeemed or switched out are in 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: Nil.


This product is suitable for investors who are seeking*:� 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 doubtabout whether the product is suitable for them.

Riskometer

Investors understand that their principal will be at moderate risk

$Standard Deviation

Modified Duration

Portfolio Yield

3.85%

3.58 yrs

7.29%

Equity & Equity relatedICICI Bank Ltd. Banks 2.62ITC Ltd. Consumer Non Durables 1.90HDFC Bank Ltd. Banks 1.45State Bank Of India Banks 1.45Axis Bank Ltd Banks 1.06Indiamart intermesh ltd. Retailing 1.04Godfrey Phillips India Ltd. Consumer Non Durables 0.90CESC Ltd. Power 0.85Emami Ltd. Consumer Non Durables 0.75SRF Ltd. Textile Products 0.73BEML Ltd Industrial Capital Goods 0.64Infosys Ltd. Software 0.64Mahindra & Mahindra Ltd. Auto 0.64Jubilant Foodworks Limited Consumer Non Durables 0.63Bharat PetroleumCorporation Ltd. Petroleum Products 0.58Kotak Mahindra Bank Ltd. Banks 0.55Prataap Snacks Ltd Consumer Non Durables 0.50The Ramco Cements Ltd Cement 0.48Hero MotoCorp Ltd. Auto 0.43P I Industries Ltd Pesticides 0.42Sun TV Network Ltd. Media and Entertainment 0.42Suven life Sciences Ltd. Pharmaceuticals 0.42JMC Projects (India) Ltd Construction 0.40Colgate Palmolive(India) Ltd. Consumer Non Durables 0.39Saregama India Ltd. Media and Entertainment 0.39Huhtamaki PPL Ltd Industrial Products 0.38ICICI Prudential LifeInsurance Company Ltd Finance 0.38Laurus Labs Ltd Pharmaceuticals 0.38Tata Motors Ltd. Auto 0.36Titan Company Ltd. Consumer Durables 0.32GMR Infrastructure Ltd. Construction Project 0.31Motherson SumiSystems Ltd. Auto Ancillaries 0.27Polycab India Ltd. Industrial Products 0.27City Union Bank Ltd. Banks 0.26CESC Ventures Ltd. Software 0.23Mahindra LifespaceDevelopers Ltd Construction 0.22Shriram City UnionFinance Ltd. Finance 0.22Heritage Foods Ltd Consumer Non Durables 0.21V.S.T Tillers Tractors Ltd Auto 0.19Solara Active PharmaSciences Ltd. Pharmaceuticals 0.16KNR Constructions Ltd. Construction 0.15Spencers Retail Ltd. Retailing 0.03

Equity & EquityRelated - Total 24.62Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Reliable Devices Trust( Underlying customerReliance Retail ) ICRA AAA(SO) 6.46Shriram TransportFinance Co Ltd. CRISIL AA+ 3.63Hindalco Industries Ltd. CRISIL AA 0.27Corporate Debt/FinancialInstitutions - Total 10.36Public Sector Undertakings Power FinanceCorporation Ltd. CRISIL AAA 8.35Punjab & Sind Bank ICRA A+ 5.81Indian Railway FinanceCorporation Ltd. CRISIL AAA 5.68NHPC Ltd. FITCH IND AAA 1.98Rural ElectrificationCorporation Ltd. CRISIL AAA 0.84Bank Of Baroda ICRA AA 0.79U P Power Corporation Ltd(Guaranteed By UP StateGovernment) FITCH IND AA(CE) 0.38NHPC Ltd. ICRA AAA 0.28Public SectorUndertakings - Total 24.11GovernmentDated Securities 7.57% Central Government SOV 11.507.72% Central Government SOV 8.077.26% Central Government SOV 3.948.27% State Government-Rajasthan SOV 1.998.42% State Government-Tamil Nadu SOV 1.41Government DatedSecurities - Total 26.91TERM DEPOSITS HDFC Bank Ltd. 0.32Term Deposits - Total 0.32Triparty Repo 11.34Net Current Assets/(Liabilities) 2.34Grand Total 100.00

yletaredo

M

Moderate

Low

Low

High

LOW HIGH

ModeratelyH

igh

An open-ended hybrid scheme investing predominantly indebt instruments

KOTAK DEBT HYBRID FUND

27



PORTFOLIO

Term Deposit as provided above is towards margin for derivatives transactionsAverage Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments 6.44 years.Kotak Debt Hybrid Fund NAV as on November 29, 2019: ̀ 33.0389 (Growth Option), ̀ 35.5174 (Direct Growth Option), ̀ 11.8774 (Monthly Dividend), ̀ 12.4169 (Direct Monthly Dividend), ̀ 13.5795 (Quarterly Dividend), ̀ 14.3295 (Direct Quarterly Dividend)

RATING PROFILE (%)

*For Fund Manager experience, please refer page 62-64. ## Risk rate assumed to be 5.25% (FBIL Overnight MIBOR rate as on 29th November 2019).**Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no 65-67. For scheme performance, please refer page no 55-61.

Product Label


ALLOCATION (%)

Investment style


Large

Medium

Small

34.47 26.91 24.62 11.66 2.34

Debentures and Bonds Government Dated Securities Equities TREP & Term Deposits & Rev.Repo

Net Current Assets

50.5 24.62 11.66 5.81 5.072.34

AAA, AAA(SO), IND AAA, SOV Equities TREP & Term Deposits & Rev.Repo A+ AA+, AA, IND AA(CE)

Net Current Assets

Maturity


Low

Medium

High

28

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.

Investment ObjectiveThe primary objective of the Scheme is to generate income through investment in debt & money market instruments having maturity of one business day (including CBLO (Tri-Party Repo), Reverse Repo and equivalent). However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.

Available Plans/OptionsA)Regular Plan B)Direct Plan

Dividend FrequencyDaily, Weekly (Every Monday) (applicable for all plans)

Minimum Investment AmountInitial Investment: ̀ 5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: `1000 & in multiples of `1 for purchase and for 0.01 for switches


Total Expense Ratio**Regular: 0.15%; Direct:0.10%

0.01 yrs

KOTAK OVERNIGHT FUND

An open ended debt scheme investing in overnight securities

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Investors understand that their principal will be at low risk

Product LabelRiskometer

Fund Manager: Mr. Deepak Agrawal*

AAUM: `1,977.10 crs

AUM: `2,277.61 crs

Benchmark: NIFTY 1D Rate index TRI

Allotment date: January 15, 2019

Folio count: 4,701

PORTFOLIO

ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.01 yearsKotak Overnight Fund NAV as on : ̀ 1049.375 (Growth Option), ̀ 1049.843 (Direct Growth Option), ̀ 1004.757 (Regular Daily Dividend), ̀ 1003.606 (Direct Daily Dividend)November 29, 2019*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST.


MaturityShort Medium Long Volatility

Low

Medium

High


Commercial Paper(CP)/

Certificate of Deposits(CD)

Corporate Debt/

Financial Institutions

Triparty Repo 99.73

Grand Total 100.00



Portfolio Yield 4.96%

Modified Duration

Please Note : For some issuer the rating has been changed form "SO'' to " CE ". The same will be reflected in month end portfolio uploaded on website.

99.73 0.27

TREP & Term Deposits & Rev.Repo Net Current Assets

99.73 0.27


Investment ObjectiveThe investment objective of the Scheme is to provide reasonable returns and high level of liquidity by investing in debt instruments such as bonds, debentures & Government Securities; and money market instruments such as treasury bills, commercial paper, certificate of deposit, including repos in permitted securities of different maturities, so as to spread the risk across different kinds of issuers in the debt markets. The Scheme may invest in call money/term money market in terms of RBI guidelines in this respect. Subject to the maximum amount permitted from time to time, the Scheme may invest in offshore securities in the manner allowed by SEBI / RBI, provided such investments are in conformity with the investment objective of the Scheme and the prevailing guidelines and Regulations. To reduce the risk of the portfolio, the Scheme may also use various derivative and hedging products from time to time, in the manner permitted by SEBI. There is no assurance that the investment objective of the Schemes will be realised.


Options: Dividend Payout,Dividend Reinvestment & Growth(applicable for all plans)

Dividend FrequencyDaily, Weekly (Every Monday) (applicable for all plans)

Ratios

$Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns.

Minimum Investment AmountInitial Investment: ̀ 500 and in multiple of ̀ 1 for purchases and of ̀ 0.01 for switchesAdditional Investment: `500 and in multiples of `1 for purchases and of ̀ 0.01 for switchesIdeal Investment Horizon: 1 - 15 days


Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions HDFC Ltd. CRISIL AAA 0.95HDB Financial Services Ltd. CRISIL AAA 0.77L & T InfrastructureFinance Company Ltd. FITCH IND AAA 0.66LIC Housing Finance Ltd. CRISIL AAA 0.33Citicorp Finance (India) Ltd. ICRA AAA 0.17Kotak MahindraInvestments Ltd. CRISIL AAA 0.16Bajaj Finance Ltd. CRISIL AAA 0.10Corporate Debt/FinancialInstitutions - Total 3.14Public SectorUndertakings Power FinanceCorporation Ltd. CRISIL AAA 0.16Public SectorUndertakings - Total 0.16GovernmentDated Securities 8.19% Central Government SOV 5.81Government DatedSecurities - Total 5.81Money MarketInstruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Reliance Jio Infocomm Ltd. CRISIL A1+ 9.04IndusInd Bank Ltd. CRISIL A1+ 3.74Reliance Retail Limited CRISIL A1+ 3.25Hindustan Zinc Ltd. CRISIL A1+ 3.11Tata Capital FinancialServices Limited CRISIL A1+ 2.51Vedanta Ltd. CRISIL A1+ 2.43Reliance Industries Ltd. CRISIL A1+ 2.13Muthoot Finance Ltd. CRISIL A1+ 1.95Tata Motors Finance Ltd. ICRA A1+ 1.64Mahindra & MahindraFinancial Services Ltd. CRISIL A1+ 1.63Tata Motors Ltd. CRISIL A1+ 1.63Adani Ports and SpecialEconomic Zone Limited ICRA A1+ 1.62Tata Capital HousingFinance Ltd. CRISIL A1+ 1.59Cholamandalam Investmentand Finance Company Ltd. CRISIL A1+ 1.47Nabha Power Ltd. (Backed byLetter of Comfort from L&T) CRISIL A1+ 1.46LIC Housing Finance Ltd. CRISIL A1+ 1.30AXIS Bank Ltd. CRISIL A1+ 1.23Birla Group HoldingPrivate Limited CRISIL A1+ 0.97L & T Infrastructure FinanceCompany Ltd. ICRA A1+ 0.90Manappuram Finance Ltd. CRISIL A1+ 0.82

Tata Motors FinanceSolutions Ltd. ICRA A1+ 0.82Ultratech Cement Ltd. CRISIL A1+ 0.82HDB Financial Services Ltd. CRISIL A1+ 0.32HDFC Ltd. CRISIL A1+ 0.16Corporate Debt/FinancialInstitutions - Total 46.54Public Sector Undertakings National Housing Bank CRISIL A1+ 4.91National Bank forAgriculture & RuralDevelopment ICRA A1+ 4.55Rural ElectrificationCorporation Ltd. CRISIL A1+ 2.45Indian Oil Corporation Ltd. ICRA A1+ 1.93Syndicate Bank FITCH IND A1+ 1.64Steel Authority of India Ltd. FITCH IND A1+ 1.62National Thermal PowerCorporation Ltd. CRISIL A1+ 1.47Chennai PetroleumCorporation Ltd. CRISIL A1+ 1.31Steel Authority of India Ltd. CARE A1+ 0.16Public SectorUndertakings - Total 20.04Treasury Bills 91 Days TreasuryBill 26/12/2019 SOV 5.2091 Days TreasuryBill 23/01/2020 SOV 3.37182 Days TreasuryBill 05/12/2019 SOV 3.2842 Days Cash ManagementBill 17/12/2019 SOV 3.2791 Days TreasuryBill 02/01/2020 SOV 2.2991 Days TreasuryBill 20/02/2020 SOV 1.78182 Days TreasuryBill 26/12/2019 SOV 0.9891 Days TreasuryBill 05/12/2019 SOV 0.95182 Days TreasuryBill 12/12/2019 SOV 0.9391 Days TreasuryBill 27/02/2020 SOV 0.8191 Days TreasuryBill 09/01/2020 SOV 0.73364 Days TreasuryBill 09/01/2020 SOV 0.62364 Days TreasuryBill 12/12/2019 SOV 0.25182 Days TreasuryBill 09/01/2020 SOV 0.0391 Days TreasuryBill 12/12/2019 SOV 0.03Treasury Bills - Total 24.52Triparty Repo 1.96Net Current Assets/(Liabilities) -2.17Grand Total 100.00

KOTAK LIQUID FUNDMaturityShort Medium Long Volatility

Low

Medium

High



PORTFOLIO

ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate andimmediate reset date of floating rate instruments : 0.11 yearsKotak Liquid Fund NAV as on November 29, 2019: ̀ 3930.024 (Growth Option), ̀ 3943.476 (Direct Growth Option), ̀ 1000.801 (Weekly Dividend), ̀ 1005.771 (Direct Weekly Dividend), ̀ 1222.81 (Daily Dividend), ̀ 1222.81 (Direct Daily Dividend)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61.

An open-ended liquid scheme


29

Please Note : For some issuer the rating has been changed form "SO" to "CE". The same will be reflected in month end portfolio uploaded on website.

Load StructureEntry Load: Nil. (applicable for all plans)

Exit Load Structurewith effect from October 20, 2019.1. Exit load shall applicable be as per the graded basis asspecified below:

Any exit load charged (net off Goods and Services tax, if any)shall be credited back to the Scheme. Units issued on reinvestment of dividends shall not be subject to entry and exit load.

2. The revised exit load shall be effective for all fresh investments (i.e. units allotted on purchases or switch-ins (including through systematic investments under existing enrolments/registrations) on or after October 20, 2019.

3. The revised load structure will be applicable for Insta Redemption facility as per the applicable circular.

4. Applicability of revised exit load on redemption /switch-out of units would be done on First in First out Basis (�FIFO�).

Investor exit uponsubscription

Exit load as a % of redemptionproceeds

Day 1 0.0070%Day 2 0.0065%Day 3 0.0060%Day 4 0.0055%Day 5 0.0050%Day 6 0.0045%Day 7 onwards 0.0000%


Benchmark: Nifty Liquid Index

November 4, 2003Allotment date:

36,057Folio count:

AAUM: `31,223.56 crs

AUM: `28,940.18 crs

$Standard Deviation

Modified Duration

Portfolio Yield

0.24%

0.11 yrs

5.20%

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 about whether the product is suitable for them.


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

66.58 24.52 5.81 3.30 1.96-2.17

Commercial Paper (CP)/Certificate of Deposits (CD) Treasury Bills Government Dated Securities

Debentures and Bonds TREP & Term Deposits & Rev.Repo Net Current Assets

100.21 1.96-2.17

A1+, AAA, IND A1+, IND AAA, SOV TREP & Term Deposits & Rev.Repo Net Current Assets

Investment ObjectiveThe investment objective of the Scheme is to generate returns by investing in money market instruments having maturity upto 1 year. There is no assurance that the investment objective of the Scheme will be realised.

Available Plans/OptionsA) Regular Plan B) Direct PlanOptions: Dividend Payout (w.e.f May 15, 2017, Under Monthly Dividned option only), Dividend Reinvestment & Growth (applicable for all plans

Dividend FrequencyDaily, Weekly (Every Monday) and Monthly (12th of every Month)

Ratios


Minimum Investment AmountInitial Investment: `5000 Under growth, weekly dividend and monthly dividend option & `1,00,000 under Daily Dividend Reinvestment option,Additional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investment Horizon: 1-15 days

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: Nil (applicable for all plans)


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.

Investors understand that their principal will be at low Moderately low risk

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

$Standard Deviation

Modified Duration

Portfolio Yield

0.46%

0.41 yrs

5.72%




Corporate Debt/


HDFC Ltd. CRISIL A1+ 8.87

IndusInd Bank Ltd. CRISIL A1+ 8.44

AXIS Bank Ltd. CRISIL A1+ 4.10

HDB Financial Services Ltd. CRISIL A1+ 2.95

LIC Housing Finance Ltd. CRISIL A1+ 2.74

JM Financial Products Limited ICRA A1+ 2.02

Aditya Birla Finance Ltd. ICRA A1+ 1.97

Hero FinCorp Ltd. CRISIL A1+ 1.93

Tata Capital Housing

Finance Ltd. CRISIL A1+ 1.72

Cholamandalam Investment

and Finance Company Ltd. CRISIL A1+ 1.26

Godrej Properties Limited CRISIL A1+ 1.02

Indostar Capital

Finance Limited CRISIL A1+ 1.02

Reliance Industries Ltd. CRISIL A1+ 1.02

Bharti Telecom Ltd. CRISIL A1+ 1.01

Fullerton India Credit Co. Ltd. CRISIL A1+ 1.01

Tata Motors Ltd. CRISIL A1+ 1.01

Standard Chartered

Investment & Loan India Ltd. CRISIL A1+ 1.00

Tata Capital Financial

Services Limited CRISIL A1+ 0.98

Sundaram BNP Paribas

Home Finance Ltd CRISIL A1+ 0.97

Manappuram Finance Ltd. CRISIL A1+ 0.95

Fullerton India Credit Co. Ltd. ICRA A1+ 0.39

Corporate Debt/Financial

Institutions - Total 46.38


Power Finance

Corporation Ltd. CRISIL A1+ 8.34

National Bank for Agriculture

& Rural Development ICRA A1+ 5.99

Small Industries Development

Bank Of India CRISIL A1+ 4.99


Bank Of India CARE AAA 3.96

Steel Authority of India Ltd. CARE A1+ 3.81


& Rural Development CRISIL A1+ 2.52

Bank Of Baroda CRISIL A1+ 2.49

Andhra Bank CRISIL A1+ 1.51

Rural Electrification

Corporation Ltd. CRISIL A1+ 0.99

Public Sector

Undertakings - Total 34.60

Treasury Bills

91 Days Treasury

Bill 09/01/2020 SOV 3.57

182 Days Treasury

Bill 19/12/2019 SOV 3.07

91 Days Treasury

Bill 20/02/2020 SOV 1.84

91 Days Treasury

Bill 02/01/2020 SOV 1.84

91 Days Treasury

Bill 26/12/2019 SOV 1.02

Treasury Bills - Total 11.34

Triparty Repo 0.36

Net Current Assets/

(Liabilities) 7.32

Grand Total 100.00

30

RATING PROFILE (%)


AAUM: `9,354.21 crs

AUM: `9,654.20 crs

Benchmark: Nifty Money Market

Index


Folio count: 9,560

KOTAK MONEY MARKET FUNDMaturityShort Medium Long Volatility

Low

Medium

HighAn open-ended debt scheme investing in money market instruments




PORTFOLIO

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.41 years. Kotak Money Market Fund NAV as on November 29, 2019: `3238.848 (Growth Option), `3250.365 (Direct Growth Option), `1012.732 (Weekly Dividend), `1022.407 (Direct Weekly Dividend), `1012.646 (Monthly Dividend), ̀ 1012.296 (Direct Monthly Dividend), ̀ 1011.62 (Daily Dividend), ̀ 1011.62 (Direct Daily Dividend)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.


ALLOCATION (%)

Please Note : For some issuer the rating has been changed form "SO" to "CE". The same will be reflected in month end portfolio uploaded on website.

80.98 11.34 7.32 0.36

Commercial Paper (CP)/Certificate of Deposits (CD) Treasury Bills Net Current Assets

TREP & Term Deposits & Rev.Repo

92.32 7.32 0.36

A1+, AAA, SOV Net Current Assets TREP & Term Deposits & Rev.Repo

Investment ObjectiveThe investment objective of the Scheme is to generate returns through investments in debt and money market instruments with a view to reduce the interest rate risk. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.


A) Regular Plan B) Direct Plan


Dividend FrequencyDaily, Monthly (12th of every Month) and Weekly (Every Monday)

Ratios


Minimum Investment AmountInitial Investment: (i) Dividend Re-investment & Growth- `5000 & above (ii) Dividend Payout (Weekly) - ̀ 1,00,00,000 & aboveAdditional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investment Horizon: 1-3 months



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


Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Bahadur Chand InvestmentsPrivate Limited ICRA AA 2.56L & T Finance Ltd. ICRA AAA 2.56Rent A Device Trust( Underlying customerReliance Retail ) ICRA AAA(SO) 2.53Muthoot Finance Ltd. CRISIL AA 2.15Aditya Birla Finance Ltd. ICRA AAA 1.92Reliance Industries Ltd. CRISIL AAA 1.75HDFC Ltd. CRISIL AAA 1.68Shriram TransportFinance Co Ltd. FITCH IND AA+ 1.49Nabha Power Ltd.( backed by unconditionaland irrevocable guaranteeby Larsen & Toubro Ltd ) ICRA AAA(CE) 1.08L & T Finance Ltd. FITCH IND AAA 1.07Mahindra & MahindraFinancial Services Ltd. FITCH IND AAA 1.07Reliance Jio Infocomm Ltd.(Irrevocably and unconditionallyguaranteed byReliance Industries) CRISIL AAA(CE) 1.04Reliable Devices Trust( Underlying customerReliance Retail ) ICRA AAA(SO) 0.93Tata Capital HousingFinance Ltd.(^) CRISIL AAA 0.85Tata Sons Private Ltd. CRISIL AAA 0.51AXIS Bank Ltd. CRISIL AA+ 0.43ICICI Bank Ltd. CARE AA+ 0.43Tata Capital FinancialServices Limited ICRA AAA 0.43Manappuram Finance Ltd. CRISIL AA 0.17Corporate Debt/FinancialInstitutions - Total 24.65Public Sector Undertakings Rural ElectrificationCorporation Ltd. CRISIL AAA 1.64Bank Of Baroda ICRA AA 1.51Power FinanceCorporation Ltd. CRISIL AAA 0.69U P Power Corporation Ltd( Guaranteed By UPState Government ) FITCH IND AA(CE) 0.69National Bank for Agriculture& Rural Development CRISIL AAA 0.62State Bank Of India. CRISIL AA+ 0.47Bank Of Baroda CARE AA 0.42Export-Import Bank of India CRISIL AAA 0.03

Public SectorUndertakings - Total 6.07Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions IndusInd Bank Ltd.(^) CRISIL A1+ 8.27HDFC Ltd. CRISIL A1+ 5.08AXIS Bank Ltd. CRISIL A1+ 3.49LIC Housing Finance Ltd.(^) CRISIL A1+ 2.80Reliance Industries Ltd. CRISIL A1+ 2.57Tata Motors Ltd. CRISIL A1+ 2.52Bharti Telecom Ltd. CRISIL A1+ 1.67Fullerton India Credit Co. Ltd. CRISIL A1+ 1.04Indostar CapitalFinance Limited CRISIL A1+ 0.76Corporate Debt/FinancialInstitutions - Total 28.20Public Sector Undertakings Small IndustriesDevelopment Bank Of India CARE AAA 8.41National Bank forAgriculture & RuralDevelopment ICRA A1+ 5.86Power FinanceCorporation Ltd. CRISIL A1+ 4.40Steel Authority of India Ltd. FITCH IND A1+ 4.20Oriental Bank of Commerce CRISIL A1+ 3.35National Bank for Agriculture& Rural Development FITCH IND A1+ 2.46National Bank for Agriculture& Rural Development CRISIL A1+ 1.65Rural ElectrificationCorporation Ltd. CRISIL A1+ 0.82Andhra Bank CARE A1+ 0.76Andhra Bank CRISIL A1+ 0.42Small IndustriesDevelopment Bank Of India CRISIL A1+ 0.42Punjab National Bank CRISIL A1+ 0.21Public SectorUndertakings - Total 32.96Reverse Repo 0.73Treasury Bills 91 Days TreasuryBill 09/01/2020 SOV 1.6942 Days Cash ManagementBill 17/12/2019 SOV 0.85Treasury Bills - Total 2.54Triparty Repo 0.98Net Current Assets/(Liabilities) 3.87Grand Total 100.00

$Standard Deviation

Modified Duration

Portfolio Yield

0.52%

0.44 yrs

6.12%

31

KOTAK SAVINGS FUNDMaturityShort Medium Long Volatility

Low

Medium

HighAn open-ended ultra-short term debt scheme investing in instruments such that themacaulay duration of the portfolio is between 3 months and 6 months


AAUM: `11,581.44 crs

AUM: `11,764.91 crs

Benchmark: NIFTY Ultra Short Duration Debt Index


Folio count: 30,912


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately




PORTFOLIO

ALLOCATION (%)

RATING PROFILE (%)

(^) Fully or Party blocked against Interest Rate Swap (IRS) Hedging Position through Interest Rate Swaps as on 30 Nov 2019 is 6.37% of the net assets.Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.49 years.Kotak Savings Fund NAV as on November 29, 2019: `10.0798 (Daily Dividend Option), `10.1395 (Daily Dividend - Direct), `31.5096 (Growth Option), `10.4304 (Monthly Dividend Option), `10.203 (Weekly Dividend Option), ̀ 14.5642 (Monthly Dividend - Direct), ̀ 10.167 (Weekly Dividend - Direct), ̀ 32.208 (Growth - Direct Option)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.



61.16 30.72 3.87 2.54 1.71

Commercial Paper (CP)/Certificate of Deposits (CD) Debentures and Bonds Net Current Assets

Treasury Bills TREP & Term Deposits & Rev.Repo

84.1 10.32 3.87 1.71

A1+, AAA, AAA(CE), AAA(SO), IND A1+, IND AAA, SOV AA+, IND AA+, AA, IND AA(CE) Net Current Assets


56.21 28.48 13.52 1.040.75

A1+, AAA, AAA(CE), AAA(SO) AA+, AA, AA(CE), IND AA, IND AA(CE), AA- A+, A+(CE), BWR A(CE), A-(CE)

Net Current Assets TREP & Term Deposits & Rev.Repo

Investment ObjectiveThe primary objective of the Scheme is to generate income through investment primarily in low duration debt & money market securities. There is no assurance or guarantee that the investment objective of the scheme will be achieved.


A) Regular B) Direct Plan

Options: Dividend Payout, Dividend ..........Reinvestment & Growth (dividend payout is available under monthly dividend only) (applicable for all plans)

Dividend FrequencyWeekly (every Monday), Monthly (12th of every month)

Ratios


Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: ̀ 1000 & in multiples of `1 for purchase and for `0.01 for switches.Ideal Investment Horizon: 1-3 months

Load StructureEntry Load: Nil. Exit Load: Nil.Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme;


$Standard Deviation

Modified Duration

Portfolio Yield

1.03%

0.85 yrs

8.09%

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



yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Sarvoday AdvisoryServices Pvt. Ltd. ( Secured byEquity shares of JSW Energy Ltd.and JSW Steel Ltd. ) BRICKWORK BWR A(CE) 5.38Reliance Jio Infocomm Ltd. CRISIL AAA 5.29Reliable Devices Trust ( Underlyingcustomer Reliance Retail ) ICRA AAA(SO) 4.66LIC Housing Finance Ltd. CRISIL AAA 4.10ECL Finance Ltd. CRISIL AA- 3.15Manappuram Finance Ltd. CRISIL AA 3.15Aasan Corporate SolutionsPvt. Ltd. ( Guaranteed by aPiramal Group of Companyand Shree Krishna Trust ) ICRA A-(CE) 3.10Coastal Gujarat Power Ltd.( Guarenteed by TATAPower Co. Ltd ) CARE AA(CE) 3.00HDFC Ltd. CRISIL AAA 2.96Rent A Device Trust ( Underlyingcustomer Reliance Retail ) ICRA AAA(SO) 2.43Nabha Power Ltd. ( backed byunconditional and irrevocableguarantee by Larsen & Toubro Ltd ) ICRA AAA(CE) 2.41Avendus Finance Pvt Ltd. CRISIL A+ 1.78Tata Motors Ltd. CARE AA- 1.58Bharti Telecom Ltd. CRISIL AA+ 1.43Muthoot Finance Ltd. CRISIL AA 1.37ICICI Bank Ltd. CRISIL AA+ 1.31EMBASSY OFFICE PARKS REIT CRISIL AAA 0.94SP Jammu UdhampurHighway Ltd. ( Funding againstNHAI Annuity ) ICRA AAA 0.89ECL Finance Ltd. CARE AA- 0.88Jamnagar Utilities &Power Private Limited( Mukesh Ambani Group ) CRISIL AAA 0.62ICICI Bank Ltd. CARE AA+ 0.45Reliance Jio Infocomm Ltd.( Irrevocably and unconditionallyguaranteed by Reliance Industries ) CRISIL AAA(CE) 0.45Aditya Birla Finance Ltd. ICRA AAA 0.27Hinduja Leyland Finance Ltd. CRISIL AA- 0.27Shriram Transport Finance Co Ltd. CRISIL AA+ 0.26Sikka Ports & Terminals Ltd.( Mukesh Ambani Group ) CRISIL AAA 0.09Corporate Debt/FinancialInstitutions - Total 52.22Public Sector Undertakings

U P Power Corporation Ltd(Guaranteed By UPState Government) FITCH IND AA(CE) 6.98Rural ElectrificationCorporation Ltd. CRISIL AAA 4.23Andhra Bank CRISIL AA- 2.15Power Finance Corporation Ltd. CRISIL AAA 1.94Small Industries DevelopmentBank Of India CARE AAA 1.94Union Bank of India FITCH IND AA 1.66U P Power Corporation Ltd( Guaranteed By UPState Government ) CRISIL A+(CE) 1.44Punjab & Sind Bank ICRA A+ 1.26PNB Housing Finance Ltd. CARE AA+ 0.57Syndicate Bank CARE A+ 0.56State Bank Of India. CRISIL AA+ 0.27Public SectorUndertakings - Total 23.00Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions AXIS Bank Ltd. CRISIL A1+ 3.38Bharti Telecom Ltd. CRISIL A1+ 2.62Piramal Enterprises Ltd. CRISIL A1+ 1.95IIFL Facilities Services Limited CRISIL A1+ 1.77HDFC Ltd. CRISIL A1+ 1.70ICICI Bank Ltd. ICRA A1+ 0.85JM Financial Products Limited ICRA A1+ 0.60L & T InfrastructureFinance Company Ltd. ICRA A1+ 0.44JM Financial CreditSolutions Ltd. ICRA A1+ 0.26Corporate Debt/FinancialInstitutions - Total 13.57Public Sector Undertakings Rural ElectrificationCorporation Ltd. CRISIL A1+ 3.79National Bank for Agriculture &Rural Development CRISIL A1+ 2.59National Bank for Agriculture &Rural Development ICRA A1+ 2.16Power Finance Corporation Ltd. CRISIL A1+ 0.88Public SectorUndertakings - Total 9.42Triparty Repo 0.75Net Current Assets/(Liabilities) 1.04Grand Total 100.00

32


Low

Medium

High

KOTAK LOW DURATION FUND



AAUM: `5,284.68 crs

AUM: `5,636.55 crs

Benchmark: NIFTY Low Duration Debt Index


Folio count: 62,194

An open-ended low duration debt scheme investing in instruments



PORTFOLIO

ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 1.01 years Kotak Low Duration Fund NAV as on November , `2412.441 (Regular Plan-Growth Option), `1015.818 (Regular Plan-Weekly Dividend), `1027.608 (Regular Plan-Monthly Dividend), `2520.407 (Direct Plan- 29 2019: Growth Option), ̀ 1200.581 (Direct Plan- Weekly Dividend), ̀ 1109.984 (Direct Plan- Monthly Dividend)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.



Kotak Low Duration Fund

Securities Below Investment grade or Default

ISIN Name of the Security Value Recognised inNAV(Rs. In Lacs)

% toNet Assets

Total Security Value(Rs. In Lacs)

INE202B07IK19.10% Dewan Housing Fin Co.Ltd.(Tranche I Series IB)-09/09/2019 (L) 400.15 0.08 1,636.50

INE202B07HQ0 9.10% Dewan Housing Fin Co.Ltd.- (Tranche - I Series IVA)-16/08/2019 (L) 317.80 0.06 1,091.00

INE202B07IJ309.05% Dewan Housing Fin Co.Ltd.- ( Tranche I Series IA)-09/09/2019 (L) 400.01 0.08 1635.75

75.22 22.99 1.040.75

Debentures and Bonds Commercial Paper (CP)/Certificate of Deposits (CD) Net Current Assets


Investment ObjectiveThe primary objective of the Scheme is to generate income through investment primarily in floating rate debt instruments, fixed rate debt instruments swapped for floating rate returns and money market instruments. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved


A) Regular B) Direct Plan

Options: Growth, Dividend Payout and Dividend Reinvestment.

Dividend FrequencyWeekly Dividend Option-Every MondayMonthly Dividend Option-12th of every month

Ratios

$Source: KMIS & ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns.

Minimum Investment AmountInitial Purchase: ̀ 5000 and in multiple of ̀ 1 for purchase and for ̀ 0.01 for switchesAdditional Purchase: `1000 & in multiples of `1 for purchase and for `0.01 for switches.

Load StructureEntry Load: Nil (Applicable for All Plans) Exit Load: Nil (Applicable for All Plans)


Modified Duration

Portfolio Yield

0.45 yrs

7.12%

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.


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Debt Instruments


Corporate Debt/


HDB Financial Services Ltd. CRISIL AAA 29.35



Government Dated Securities

6.13% Central Government SOV 59.37

Government Dated

Securities - Total 59.37

Net Current Assets/

(Liabilities) 11.28

Grand Total 100.00

33


Low

Medium

High

KOTAK FLOATING RATE FUND


Fund Manager: Mr. Deepak Agrawal & Mr. Arjun Khanna*AAUM: `3.64 crsAUM: `3.36 crsBenchmark: NIFTY Ultra Short Duration Debt Index TRI Allotment date: May 14, 2019Folio count: 120

An open ended debt scheme predominantly investing in floating rate instruments.



PORTFOLIO

ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.07 years Kotak Floating Rate Fund NAV as on ̀ 1034.732 (Growth Option), ̀ 1003.997 (Weekly Dividend), ̀ 1028.873 (Dividend Option), ̀ 1035.911 (Direct Growth Option),`1013.511 (Direct dividend)November 29, 2019: *For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST.



59.37 29.35 11.28

Government Dated Securities Debentures and Bonds Net Current Assets

88.72 11.28

AAA, SOV Net Current Assets

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.

DEBT + CASH

LARGECAP

SMALLCAP

MIDCAP

Kotak Bluechip

Fund

a. Favours industry leaders in cost, innovation, brand, competence, etc. with a proven execution track record across cyclesb. High conviction and long term calls taken

Key Features

Kotak India EQ Contra Fund

Kotak Equity Opportunities Fund

Kotak Standard Multicap Fund

Kotak Tax SaverFund

KotakInfrastructure & Economic Reform Fund

Kotak Equity Hybrid Fund

Kotak Equity Arbitrage Fund

Large cap

Contra/Value Fund

Large and Midcap

Multi Cap

ELSS

Thematic: Infrastructure

Aggresive Hybrid

EquityArbitrage

EquitySavings

Investment Theme

a. Focus on sustainable large cap stories which can withstand market shocksb. These are companies with pricing power for their competitive advantage or entry barriers

a. Invests in a few sectors as the various sectors of the economy tend to perform differently at different points of timeb. Flexibility to move across market caps depending on their attractiveness during the economic phase

a. Equity portion: Multi cap strategy to identify outstanding companies having well managed and durable businesses with predictable earnings powerb. Debt portion: Actively managed with medium to long term maturityc. Lower volatility than a pure equity or debt fund

a. Discovers arbitrage opportunities by simultaneously entering transactions of long position in cash and exactly off-setting short position in futuresb. Equity position is completely hedged

Identifies investment opportunities across market capitalisation and sectors

a. Portfolio is diversified across sectors and market capitalization segments b. Offers dual benefits of growth and tax savings

a. Identifies ""flow related"" companies - These benefit from spending from government, private and household (in terms of properties). They are not asset owners.b. Focus on high quality companies exhibiting superior ROE, positive cash flow, low leverage in an otherwise challenging environment

Conservative portfolio with a blend of:a. Income generation - through arbitrage opportunities & debt investment.b. Growth potential - through moderate participation in equity marketsc. Tax efficiency - through equity orientation

Fund Manager

Mr. Harish Krishnan

Ms. Shibani Kurian

Mr. Harsha Upadhyaya



Mr. Harish Krishnan

Mr. Pankaj Tibrewal

& Mr. Abhishek

BisenMr. Rukun

Tarachandani&

Mr.Hiten Shah

Mr. Abhishek

Bisen,Mr. HarishKrishnan

&Mr.Hiten

Shah

Kotak Equity Savings Fund

Scheme Name

AUM

(Rs. Crs)thas on 29

Nov 2019

Benchmark Mcap (%) Underweight Beta

Nifty 50 TRI

Nifty 100 TRI

Nifty 200 TRI

Nifty 200 TRI

Nifty 500 TRI

India Infrastructure

Index (Customised

Index by IISL)

Nifty 50 Arbitrage

Index

75% of Nifty 50 Arbitrage

Index + 25% of Nifty 50

Overweight Standard Deviation

(%)

Sharpe

1,469.78

882.66

2,837.06

29,095.76

1,030.20

5,669.90

1,325.78

346.50

1,460.75

17,362.55

1,868.68

N/A

N/A

N/A

30.4936.4131.87 1.23

79.8316.68

1.531.97

48.1140.69

9.531.67

73.9518.49

1.406.15

83.4411.28

3.142.14

1. Services2. Construction3. Industrial Manufacturing

1. Energy 2. Industrial Manufacturing3. Cement & Cement Products

1. Industrial Manufacturing2. Cement & Cement Products3. Textiles

1. Cement & Cement Products2. Construction3. Services

1. Industrial Manufacturing2. Cement & Cement Products3. Textiles

N/A

N/A

N/A

1. Consumer Goods2. Metals3. Telecom

1. Consumer Goods2. Information Technology3. Metals

1. Financial Services2. Consumer Goods3. Automobile

1. Consumer Goods2. Information Technology3. Financial Services

1. Financial Services2. Information Technology3. Consumer Goods

N/A

N/A

N/A

0.56

0.77

0.54

0.65

0.53

0.35

0.11

0.09

0.35

1.55

0.82

0.97

0.92

0.94

0.96

0.94

0.77

0.67

0.92

1.16

0.46

1.10

12.41

11.77

12.54

12.71

12.92

15.03

16.38

16.93

10.34

0.48

3.58

0.12

0.25

1.25

2.34

0.76

3.27

4.89

4.56

-0.90

0.52

0.78

Kotak Small Cap Fund

Small Cap

a. Identifies the hidden growth potential of small cap sized companiesb. Portfolio exhibits higher volatility than large caps and Midcaps however tends to have a higher return potential in the long runc. Buy and hold strategy

Mr. Pankaj Tibrewal

Nifty Smallcap 100

TRI

5.7825.3268.190.70

1. Industrial Manufacturing2. Consumer Goods3. Chemicals

1. Industrial Manufacturing2. Construction3. Chemicals

1. Information Technology2. Financial Services3. Construction

1. Telecom2. Financial Services3. Energy

Kotak Emerging Equity Fund Mid Cap

Invest with industry leaders

Product Positioning

Long term wealth creators

Spotting the hidden gems

Focus on few selected sectors

Tax advantage with potential equity growth

True to label

Best of both worlds: equity

& debt

Arbitrage opportunities

Spot them young, watch them grow

Emerging leaders

a. Stands for winning investment ideas across the mid & small cap range offering decent growth trajectory over the medium to long term horizonb. Buy and hold strategyc. Riskier than a large cap fund but offers faster growth rate since it has a smaller based. 0%-35% allocation to large cap or small cap opportunities as tactical plays

Mr. Pankaj Tibrewal

Nifty Midcap 100

13.7465.5717.443.25

1. Industrial Manufacturing2. Fertilisers & Pesticides3. Textiles

1. Financial Services2. Energy3. Information Technology

Nifty 50 Hybrid

Composite Debt

65:35 Index

59.0728.7810.57

1.58

thDetails provided are as on November 29 , 2019. Ratio Source: ICRA MFI Explorer. Risk free rate assumed to be 5.25% .

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).

* 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"

^Total Expense Ratio is of Regular Plan

5 yearsAlpha (%)

1.86

2.17

2.50

2.13

0.99

2.16

Total Expense Ratio

(TER %)^

2.18

2.30

2.03

1.63

2.38

Equity Funds Ready Reckoner

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Kotak Bluechip

Kotak Small Cap

Kotak Equity Opportunities

Kotak India EQ Contra

Kotak Standard Multicap

Kotak Tax Saver

Kotak Emerging Equity Scheme

Equity Scheme




� Long term capital growth� Investment in portfolio of predominantly equity & equity related securities

� Long term capital growth� Investment in equity & equity related securities predominantly in mid cap stocks



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

� Long term capital growth with a 3 year lock in� Investment in portfolio of predominantly equity & equity related securities

� Long term capital growth� Investment in equity & equity related securities predominantly in mid & small cap companies.

� Long term capital growth� Investment in equity & equity related securities balanced with income generation by investing in debt & money market instruments

� Income from arbitrage opportunities in the equity market & long term capital growth� Investment predominantly in arbitrage opportunities in the cash & derivatives segment of the equity market and equity & equity related securities

� Income from arbitrage opportunities in the equity market

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

� Long term capital growth� Long term capital appreciation by investing in equity and equity related instruments of companies contributing to infrastructure and economic development of India

Kotak Infrastructure &

Economic Reform Fund

Debt Scheme

This product is suitable for investors who are seeking*

Riskometer

Low

Moderately

Low

Moderate ModeratelyHigh

High

Investors understand that their principal will be at High risk

Low High

Riskometer

Low

Moderately

Low


High

Investors understand that their principal will be at Moderately High risk

Low High

Riskometer

Low

Moderately

Low


High

Investors understand that their principal will be at Moderately low risk

Low High

Kotak Bond

Kotak Medium Term Fund

Kotak LowDuration

Kotak Mahindra Liquid Scheme

Kotak Floating Rate

Kotak Overnight Fund

Kotak Money Market Scheme

Kotak Savings Fund

Kotak Dynamic Bond

Kotak CorporateBond Fund

Kotak Banking andPSU Debt Fund

Kotak Bond Short Term

Kotak Credit Risk

� Income over a short term investment horizon� Investment in money market securities

� Income over a short term investment horizon� Investment in debt & money market securities with portfolio Macaulay duration between 3 months and 6 months

� Income over a medium term investment horizon� Investment in debt & money market securities with portfolio Macaulay duration between 1 year and 3 years

� Income over a medium term investment horizon� Investment in debt & money market securities across duration

� Regular Income over short term� Income by investing in fixed income securities of varying maturities and predominantly in AA+ and above rated corporate bonds

� Income over a medium term investment horizon� Investment predominantly in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds )

� Income over a short to medium term investment horizon� Investment in debt & money market securities of PSUs, Banks, Public Financial Institutions, Government Securities & Municipal Bonds

� Income over a short term investment horizon� Investment in debt & money market securities

� Income over a short term investment horizon.� Investment in floating & fixed rate debt instruments swapped for floating rate returns and money market instruments.

� Income over a short term investment horizon� Investment in debt & money market securities having maturity of one business day.

� Regular Income over short term� Income by focusing on low duration securities with portfolio Macaulay duration between 6 months and 12 months

� Income over a medium term investment horizon� Investment in debt, government securities & money market instruments with portfolio Macaulay duration between 3 years and 4 years

� Income over a long investment horizon� Investment in debt & money market securities with portfolio Macaulay duration between 4 years and 7 years

� Income over a long investment horizon� Investments in sovereign securities issued by the Central and/or State Government(s) and / or reverse repos in such securities.

Riskometer

Low

Moderately

Low


High


Low High

Riskometer

Low

Moderately

Low


High


Low High

Riskometer

Low

Moderately

Low


High


Low High

RiskometerName of the Scheme

Kotak Mahindra Gilt Unit Scheme 98 - Investment plan

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Kotak Bluechip Fund





Kotak Tax Saver Fund

Kotak Emerging Equity Fund

Equity Scheme





� Long term capital growth� Investment in equity & equity related securities predominantly in mid cap stocks



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

� Long term capital growth with a 3 year lock in� Investment in portfolio of predominantly equity & equity related securities

� Long term capital growth� Investment in equity & equity related securities predominantly in mid & small cap companies.

� Long term capital growth� Investment in equity & equity related securities balanced with income generation by investing in debt & money market instruments

� Income from arbitrage opportunities in the equity market & long term capital growth� Investment predominantly in arbitrage opportunities in the cash & derivatives segment of the equity market and equity & equity related securities

� Income from arbitrage opportunities in the equity market

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

� Long term capital growth� Long term capital appreciation by investing in equity and equity related instruments of companies contributing to infrastructure and economic development of India

Kotak Infrastructure &

Economic Reform Fund

Debt Scheme

This product is suitable for investors who are seeking*

Riskometer

Low

Moderately

Low


High

Investors understand that their principal will be at High risk

Low High

Riskometer

Low

Moderately

Low


High

Investors understand that their principal will be at Moderately High risk

Low High

Riskometer

Low

Moderately

Low


High

Investors understand that their principal will be at Moderately low risk

Low High

Kotak Bond Fund


Kotak Low Duration Fund

Kotak Liquid Fund

Kotak Floating Rate Fund

Kotak Overnight Fund

Kotak Money Market Fund

Kotak Savings Fund

Kotak Dynamic Bond Fund

Kotak CorporateBond Fund

Kotak Banking andPSU Debt Fund

Kotak Bond Short Term

Kotak Credit Risk Fund

� Income over a short term investment horizon� Investment in money market securities

� Income over a short term investment horizon� Investment in debt & money market securities with portfolio Macaulay duration between 3 months and 6 months

� Income over a medium term investment horizon� Investment in debt & money market securities with portfolio Macaulay duration between 1 year and 3 years

� Income over a medium term investment horizon� Investment in debt & money market securities across duration

� Regular Income over short term� Income by investing in fixed income securities of varying maturities and predominantly in AA+ and above rated corporate bonds

� Income over a medium term investment horizon� Investment predominantly in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds )

� Income over a short to medium term investment horizon� Investment in debt & money market securities of PSUs, Banks, Public Financial Institutions, Government Securities & Municipal Bonds

� Income over a short term investment horizon� Investment in debt & money market securities

� Income over a short term investment horizon.� Investment in floating & fixed rate debt instruments swapped for floating rate returns and money market instruments.

� Income over a short term investment horizon� Investment in debt & money market securities having maturity of one business day.

� Regular Income over short term� Income by focusing on low duration securities with portfolio Macaulay duration between 6 months and 12 months

� Income over a medium term investment horizon� Investment in debt, government securities & money market instruments with portfolio Macaulay duration between 3 years and 4 years

� Income over a long investment horizon� Investment in debt & money market securities with portfolio Macaulay duration between 4 years and 7 years

� Income over a long investment horizon� Investments in sovereign securities issued by the Central and/or State Government(s) and / or reverse repos in such securities.

Riskometer

Low

Moderately

Low


High


Low High

Riskometer

Low

Moderately

Low


High


Low High

Riskometer

Low

Moderately

Low


High


Low High

RiskometerName of the Scheme

Kotak Gilt Fund

thD

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96.97 3.01 0.02

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

Investment ObjectiveThe investment objective of the scheme is to generate income by investing in debt /and money market securities across the yield curve and predominantly in AA+ and above rated corporate securities. The scheme would also seek to maintain reasonable liquidity within the fund. There is no assurance or guarantee that the investment objective of the scheme will be achieved.


Options: Dividend Payout, Dividend .........Reinvestment & Growth (applicable for all plans)

Dividend FrequencyMonthly (12th of every Month)

Ratios


Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: ̀ 1000 & in multiples of `1for purchase and for `0.01 for switches.Ideal Investment Horizon: 1 Year & Above



$Standard Deviation

Modified Duration

Portfolio Yield

1.20%

1.38 yrs

6.42%

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.


Debt InstrumentsDebentures and Bonds Corporate Debt/Financial Institutions HDFC Ltd. CRISIL AAA 8.39Reliance Industries Ltd. CRISIL AAA 6.90HDB Financial Services Ltd. CRISIL AAA 5.18Reliance Jio Infocomm Ltd. CRISIL AAA 4.73LIC Housing Finance Ltd. CRISIL AAA 4.28Bajaj Finance Ltd. CRISIL AAA 3.02LIC Housing Finance Ltd. CARE AAA 2.70Rent A Device Trust ( Underlyingcustomer Reliance Retail ) ICRA AAA(SO) 2.21L & T Finance Ltd. FITCH IND AAA 1.98Nabha Power Ltd. (backed byunconditional and irrevocableguarantee by Larsen & Toubro Ltd) ICRA AAA(CE) 1.74Tata Sons Private Ltd. CRISIL AAA 1.63Tata Capital FinancialServices Limited ICRA AAA 1.33Reliance Jio Infocomm Ltd.(Irrevocably and unconditionallyguaranteed by Reliance Industries) CRISIL AAA(CE) 1.07Jamnagar Utilities & PowerPrivate Limited( Mukesh Ambani Group ) CRISIL AAA 1.05L & T Housing Finance Ltd. CARE AAA 0.63East-North InterconnectionCompany Limited ( Operationalpower transmission project ) CRISIL AAA 0.26SP Jammu UdhampurHighway Ltd. ( Fundingagainst NHAI Annuity ) ICRA AAA 0.16Bhopal Dhule TransmissionCompany Ltd. ( Operationalpower transmission project ) CRISIL AAA 0.10Bajaj Finance Ltd. FITCH IND AAA 0.07Grasim Industries Ltd. CRISIL AAA 0.03

Corporate Debt/FinancialInstitutions - Total 47.46Public Sector Undertakings Power Finance Corporation Ltd. CRISIL AAA 9.59Rural ElectrificationCorporation Ltd. CRISIL AAA 9.43

National Bank for Agriculture& Rural Development CRISIL AAA 5.45Small Industries DevelopmentBank Of India CARE AAA 4.30Food Corporation of India CRISIL AAA(CE) 2.83State Bank Of India. CRISIL AAA 0.70Indian Railway FinanceCorporation Ltd. CRISIL AAA 0.42Small Industries DevelopmentBank Of India ICRA AAA 0.41Powergrid VizagTransminssion Ltd. ( backed byunconditional and irrevocableguarantee by Powergrid Corp ) CRISIL AAA 0.19Rural ElectrificationCorporation Ltd. FITCH IND AAA 0.05

Public SectorUndertakings - Total 33.37Government Dated Securities 7.32% Central Government SOV 5.48

Government DatedSecurities - Total 5.48Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions AXIS Bank Ltd. CRISIL A1+ 5.72ICICI Bank Ltd. ICRA A1+ 3.16LIC Housing Finance Ltd. CRISIL A1+ 0.63

Corporate Debt/FinancialInstitutions - Total 9.51Public Sector Undertakings Small Industries DevelopmentBank Of India CARE AAA 0.63National Bank for Agriculture& Rural Development CRISIL A1+ 0.52

Public SectorUndertakings - Total 1.15Triparty Repo 3.01Net Current Assets/(Liabilities) 0.02Grand Total 100.00

34


Low

Medium

HighAn open-ended debt scheme predominantly investing in AA+ and above rated corporate bonds

KOTAK CORPORATE BOND FUND

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately




AAUM: 3,583.15 crs`

AUM: `3,801.44 crs

Benchmark: CRISIL Corporate Bond Composite Index


Folio count: 21,659

PORTFOLIOIssuer/Instrument Industry/Rating % to Net Assets


ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 1.58 years Kotak Corporate Bond Fund NAV as on November 29, 2019: `2634.619 (Regular Plan-Growth Option), `1051.145 (Regular Plan-Monthly Dividend), `2699.841 (Direct Plan- Growth Option), `1104.945 Direct Plan- Monthly Dividend)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.



80.83 10.66 5.48 3.01

Debentures and Bonds Commercial Paper (CP)/Certificate of Deposits (CD) Government Dated Securities


0.02

Net Current Assets

Investment ObjectiveTo generate income by predominantly investing in debt & money market securities issued by Banks, Public Sector Undertaking (PSUs), Public Financial Institutions (PFI), Municipal Bonds and Reverse repos in such securities, sovereign securities issued by the Central Government & State Governments, and / or any security unconditionally .........guaranteed by the Govt. of India. There is no assurance that or guarantee that the investment objective of the scheme will be achieved.



Dividend FrequencyMonthly (12th of every Month)

Ratios


Minimum Investment AmountInitial Investment: Dividend Payout, Dividend Re-investment & Growth ̀ 5000 & above.Additional Investment: ̀ 1000 & in multiples of ̀ 1.Ideal Investment Horizon: 1-3 months



$Standard Deviation

Modified Duration

Portfolio Yield

1.89%

2.87 yrs

6.97%

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.


Debt Instruments


Corporate Debt/



ICICI Bank Ltd. ICRA AA+ 2.88

ICICI Bank Ltd. CRISIL AA+ 1.93

ICICI Bank Ltd. CARE AA+ 1.14



Public Sector

Undertakings


Corporation Ltd. CRISIL AAA 9.65

Power Finance


State Bank Of India. CRISIL AA+ 6.26

Food Corporation of India CRISIL AAA(CE) 4.53

National Highways

Authority Of India CRISIL AAA 4.25


& Rural Development CRISIL AAA 4.12

Indian Railway Finance


State Bank Of India. CRISIL AAA 2.49

U P Power Corporation Ltd

( Guaranteed By UP

State Government ) FITCH IND AA(CE) 1.85

Bank Of Baroda FITCH IND AAA 1.61

Bank Of Baroda CARE AA 1.43

Hindustan Petroleum





Bank Of India ICRA AAA 1.13



Bank Of Baroda CRISIL AA+ 0.71

Bank Of Baroda CARE AA+ 0.57

Powergrid Vizag

Transminssion Ltd. ( backed by

unconditional and irrevocable

guarantee by Powergrid Corp ) CRISIL AAA 0.37

Bank Of Baroda ICRA AA 0.29

Power Grid Corporation

of India Ltd. CRISIL AAA 0.13

Public Sector






7.69% State

Government-Assam SOV 1.31

8.88% State

Government-Haryana SOV 0.92

8.39% State

Government-Rajasthan SOV 0.74

7.82% State


8.71% State

Government-Uttar Pradesh SOV 0.38

8.74% State


Government Dated





Corporate Debt/


AXIS Bank Ltd. CRISIL A1+ 5.58

ICICI Bank Ltd. ICRA A1+ 0.68





& Rural Development CRISIL A1+ 4.81

Bank Of Baroda CRISIL A1+ 1.37




Bank Of India CRISIL A1+ 0.69

Public Sector


Triparty Repo 0.91

Net Current Assets/

(Liabilities) 5.00

Grand Total 100.00

35


Low

Medium

High

KOTAK BANKING AND PSU DEBT FUND


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



AAUM: `3,251.22 crs

AUM: `3,552.45 crs

Benchmark: CRISIL Banking and PSU Debt Index

Allotment date: December 29,1998

Folio count: 5,842

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



PORTFOLIO

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments: 3.88 years.Kotak Banking And PSU Debt Fund NAV as on November 29, 2019: ̀ 45.5359 (Growth Option), ̀ 46.3944 (Direct Growth Option), ̀ 10.5366 (Monthly Dividend), ̀ 10.6394 (Direct Monthly Dividend) *For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.


ALLOCATION (%)

RATING PROFILE (%)


65.24 14.49 14.36 5.00 0.91

Debentures and Bonds Commercial Paper (CP)/Certificate of Deposits (CD) Government Dated Securities

Net Current Assets TREP & Term Deposits & Rev.Repo

73.22 20.87 5.00 0.91

A1+, AAA, AAA(CE), IND AAA, SOV AA+, AA, IND AA(CE) Net Current Assets


Investment ObjectiveThe investment objective of the Scheme is to provide reasonable returns and .............reasonably high levels of liquidity by investing in debt instruments such as bonds, debentures and Government securities; and money market instruments such as treasury bills, commercial papers, certificates of deposit, including repos in permitted securities of different maturities, so as to spread the risk across different kinds of issuers in the debt markets. There is no assurance that the investment objective of the Scheme will be realised.



Dividend Frequency

Monthly (12th of every Month), Half Yearly (20th of Mar/Sept) and normal (as decided by Trustees)

Ratios


Minimum Investment AmountInitial Investment: (i) Dividend Re-investment & Growth - `5000 & above (ii) Dividend Payout (Monthly Dividend) - `50,000 & aboveAdditional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investments Horizon: 6 months & aboveLoad StructureEntry Load: Nil. (applicable for all plans)Exit Load: Nil.


This product is suitable for investors who are seeking*:� Income over a medium term investment horizon� Investment in debt & money market securities with

portfolio Macaulay duration between 1 year & 3 years* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions HDFC Ltd. CRISIL AAA 8.15Mahindra & MahindraFinancial Services Ltd. FITCH IND AAA 6.39Reliable Devices Trust( Underlying customerReliance Retail ) ICRA AAA(SO) 4.23Reliance Jio Infocomm Ltd. CRISIL AAA 3.37LIC Housing Finance Ltd. CARE AAA 3.36Tata Capital FinancialServices Limited CRISIL AAA 2.94Bajaj Finance Ltd. CRISIL AAA 2.92Aditya Birla Finance Ltd. ICRA AAA 2.90Rent A Device Trust( Underlying customerReliance Retail ) ICRA AAA(SO) 2.71Jamnagar Utilities &Power Private Limited( Mukesh Ambani Group ) CRISIL AAA 2.70Fullerton India Credit Co. Ltd. CRISIL AAA 1.92LIC Housing Finance Ltd. CRISIL AAA 1.74Tata Sons Private Ltd. CRISIL AAA 1.51Tata Capital HousingFinance Ltd. CRISIL AAA 0.96Bhopal Dhule TransmissionCompany Ltd. ( Operationalpower transmission project ) CRISIL AAA 0.95L & T Infrastructure FinanceCompany Ltd. CARE AAA 0.79Nabha Power Ltd. ( backed byunconditional and irrevocableguarantee by Larsen &Toubro Ltd ) ICRA AAA(CE) 0.76Tata Capital FinancialServices Limited ICRA AAA 0.68Reliance Industries Ltd. CRISIL AAA 0.50HDB Financial Services Ltd. CRISIL AAA 0.33Sikka Ports & Terminals Ltd.( Mukesh Ambani Group ) CRISIL AAA 0.30Jamnagar Utilities &Power Private Limited( Mukesh Ambani Group) CRISIL AAA 0.24IOT Utkal Energy Services Ltd. CRISIL AAA 0.12Bajaj Housing Finance Ltd. CRISIL AAA 0.01Corporate Debt/FinancialInstitutions - Total 50.48Public Sector Undertakings Power FinanceCorporation Ltd. CRISIL AAA 5.11Rural ElectrificationCorporation Ltd. CRISIL AAA 4.94National Bank for Agriculture& Rural Development CRISIL AAA 4.09Indian Railway FinanceCorporation Ltd. CRISIL AAA 1.78State Bank Of India. CRISIL AAA 1.49Bank Of Baroda FITCH IND AAA 1.00Small Industries DevelopmentBank Of India CARE AAA 0.89National Thermal PowerCorporation Ltd. CRISIL AAA 0.72Rural Electrification

Corporation Ltd. FITCH IND AAA 0.43National HighwaysAuthority Of India CRISIL AAA 0.25Power Grid Corporationof India Ltd. CRISIL AAA 0.10Small Industries DevelopmentBank Of India ICRA AAA 0.03Public SectorUndertakings - Total 20.83GovernmentDated Securities 7.32% Central Government SOV 8.917.82% StateGovernment-Assam SOV 2.977.26% Central Government SOV 2.158.59% StateGovernment-Andhra Pradesh SOV 2.047.57% Central Government SOV 1.767.93% StateGovernment-Chattisgarh SOV 1.648.45% StateGovernment-Punjab SOV 0.568.26% StateGovernment-Uttar Pradesh SOV 0.518.72% StateGovernment-Bihar SOV 0.518.39% StateGovernment-Rajasthan SOV 0.507.69% StateGovernment-Assam SOV 0.458.50% State Government-Jammu & Kashmir SOV 0.318.45% State Government-Jammu & Kashmir SOV 0.308.21% StateGovernment-Haryana SOV 0.258.27% StateGovernment-Rajasthan SOV 0.201.44% Central Government SOV 0.119.36% StateGovernment-West Bengal SOV 0.118.45% StateGovernment-Bihar SOV 0.108.69% StateGovernment-Kerala SOV 0.078.21% StateGovernment-Rajasthan SOV 0.068.66% StateGovernment-Tamil Nadu SOV 0.06Government DatedSecurities - Total 23.57Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Public Sector Undertakings National Bank forAgriculture & RuralDevelopment FITCH IND A1+ 0.93Public SectorUndertakings - Total 0.93Triparty Repo 0.19Net Current Assets/(Liabilities) 4.00Grand Total 100.00

$Standard Deviation

Modified Duration

Portfolio Yield

1.52%

2.44 yrs

7.03%

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



Low

Medium

HighAn open-ended short term debt scheme investing in instruments such that themacaulay duration of the portfolio is between 1 year and 3 years

KOTAK BOND SHORT TERM FUND



AAUM: `10,181.92 crs

AUM: `10,396.98 crs

Benchmark: NIFTY Short Duration Debt Index


Folio count: 9,036



PORTFOLIO

ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 3.10 years.Kotak Bond Short Term Fund NAV as on November 29, 2019: `37.1507 (Growth Option), `39.1088 (Direct Growth Option), `10.1358 (Monthly Dividend), `12.2631 (Direct Monthly Dividend), `13.5369 (Half Yearly Dividend), ̀ 13.8642 (Direct Half Yearly Dividend), ̀ 11.6156 (Direct Normal Dividend)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.


36


71.31 23.57 4.00 0.930.19

Debentures and Bonds Government Dated Securities Net Current Assets

Commercial Paper (CP)/Certificate of Deposits (CD) TREP & Term Deposits & Rev.Repo

95.81 4.00 0.19

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

Investment ObjectiveThe investment objective of the scheme is to generate income by investing in debt /and money market securities across the yield curve and predominantly in AA rated and below corporate securities. The scheme would also seek to maintain reasonable liquidity within the fund. There is no assurance that the investment objective of the Schemes will be realised.



Dividend FrequencyWeekly (Every Monday), Monthly (12th of every Month), Quarterly (20th of Mar, Jun, Sep and Dec of every Year), Annual (12th of March).

Ratios


Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investments Horizon: 1 year & above

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: a) For redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil.b) If units redeemed or switched out are in 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: Nil.


$Standard Deviation

Modified Duration

Portfolio Yield

1.29%

2.00 yrs

9.20%

This product is suitable for investors who are seeking*:� Income over a medium term investment horizon� Investment predominantly in AA and below rated

corporate bonds (Excluding AA+ rated corporate bonds)


37

KOTAK CREDIT RISK FUND

An open-ended debt scheme predominantly investing in aa and below ratedcorporate bonds (excluding AA+ rated corporate bonds)

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately




AAUM: `4,878.42 crs

AUM: `4,979.26 crs

Benchmark: Nifty Credit Risk

Bond Index $


Folio count: 25,526


Debt Instruments




JSW Techno Projects Management Ltd.

( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(CE) 4.52

Talwandi Sabo Power Ltd.

( Unconditional and Irrevocable Corporate Guarantee of Vedanta Ltd.) CRISIL AA(CE) 3.90

Sarvoday Advisory Services Pvt. Ltd.

( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(CE) 3.66

Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) CARE AA(CE) 3.17

Muthoot Finance Ltd. CRISIL AA 3.13

Prestige Estates Projects Limited ICRA A+ 3.04

Dalmia Cement (Bharat) Ltd ICRA AA 2.57

Reliance Jio Infocomm Ltd. CRISIL AAA 2.18

LIC Housing Finance Ltd. CARE AAA 2.06

EMBASSY OFFICE PARKS REIT CRISIL AAA 2.01

Future Lifestyle Fashions Ltd. CRISIL AA- 1.96

Tata Motors Ltd. CARE AA- 1.88

Nayara Energy Limited CARE AA 1.86

Tata Motors Ltd. ICRA AA- 1.57

Jyothy Fbricare Services Ltd. ( Guaranteed By Jyothy Laboratories Ltd ) CARE AA(CE) 1.44

Shriram Transport Finance Co Ltd. CRISIL AA+ 1.40

Bharti Telecom Ltd. CRISIL AA+ 1.39

YES Bank Ltd. ICRA BBB+ 1.30

Aasan Corporate Solutions Pvt. Ltd.

( Guaranteed by a Piramal Group of Company and Shree Krishna Trust ) ICRA A-(CE) 1.20

Vizag General Cargo Berth Pvt. Ltd.

( backed by unconditional and irrevocable guarantee of Vedanta Ltd ) CRISIL AA(CE) 1.00

Tata Steel Ltd. CARE AA 0.78

Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 0.51

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-(CE) 0.26

Aashman Energy Pvt. Ltd.



Divyesh Power Pvt. Ltd.



Elena Renewable Energy Pvt. Ltd.



Pratyash Renewable Pvt. Ltd.



SEI Baskara Power Pvt. Ltd.



SEI Enerstar Renewable Energy Pvt. Ltd.



SEI Mihir Energy Pvt. Ltd.



Shreyas Renwable Energy Pvt. Ltd.



Zuvan Energy Pvt. Ltd.



PORTFOLIO


Low

Medium

High

38


KOTAK CREDIT RISK FUND

An open-ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+ rated corporate bonds)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 2.68 years.Kotak Credit Risk Fund NAV as on November 29, 2019: `21.6601 (Growth Option), `23.0764 (Direct Growth Option), `10.0177 (Weekly Dividend), `10.4428 (Direct Weekly Dividend), `10.369 (Monthly Dividend), `10.5978 (Direct Monthly Dividend), ̀ 11.0782 (Quarterly Dividend), ̀ 10.4671 (Direct Quarterly Dividend), ̀ 10.9948 (Annual Dividend), ̀ 17.3326 (Direct Annual Dividend).$ With Effect from 1st November 2019, the Benchmark is changed to NIFTY Credit Risk Bond Index from CRISIL Composite AA Short Term Bond Index.*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.

ALLOCATION (%)

RATING PROFILE (%)


Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) CRISIL AAA 0.21

Bajaj Finance Ltd. CRISIL AAA 0.10

ECL Finance Ltd. CRISIL AA- 0.10

Fullerton India Credit Co. Ltd. CRISIL AAA 0.07

LIC Housing Finance Ltd. CRISIL AAA 0.02

Shriram City Union Finance Ltd. CARE AA+ 0.02



U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(CE) 7.83


Andhra Bank CARE A+ 5.12

Punjab & Sind Bank ICRA A+ 2.88

Rural Electrification Corporation Ltd. CRISIL AAA 2.49

Syndicate Bank CARE A+ 2.42


Union Bank of India FITCH IND AA 1.86

Union Bank of India CARE AA- 1.64

National Bank for Agriculture & Rural Development CRISIL AAA 1.63

U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(CE) 1.61

Punjab National Bank FITCH IND A 1.60

Indian Railway Finance Corporation Ltd. CRISIL AAA 1.24

Andhra Bank CRISIL AA- 0.63

National Highways Authority Of India CRISIL AAA 0.10

Small Industries Development Bank Of India CARE AAA 0.10

United Bank Of India CRISIL A+ 0.10

PNB Housing Finance Ltd. CARE AA+ 0.04

Rural Electrification Corporation Ltd. FITCH IND AAA 0.04

Steel Authority of India Ltd. FITCH IND AA- 0.02





IIFL Facilities Services Limited CRISIL A1+ 2.01

Piramal Enterprises Ltd. CRISIL A1+ 0.70


Triparty Repo 0.33

Net Current Assets/(Liabilities) 2.54

Grand Total 100.00


94.42 2.71 2.54 0.33

Debentures and Bonds Commercial Paper (CP)/Certificate of Deposits (CD) Net Current Assets


34.57 32.37 28.89 2.541.30

0.33

AA+, AA, AA(CE), IND AA, IND AA(CE), AA-, AA-(CE), IND AA- A+, A+(CE), BWR A(CE), IND A, A-(CE) A1+, AAA, IND AAA

Net Current Assets BBB+ TREP & Term Deposits & Rev.Repo

Investment ObjectiveThe investment objective of the scheme is to generate regular income and capital appreciation by investing in a portfolio of medium term debt and money market instruments. There is no assurance or ...guarantee that the investment objective of the scheme will be achieved.



Dividend FrequencyQuarterly (20th of Mar, Jun, Sep and Dec of every Year), Annually (12th of March)

Ratios


Minimum Investment AmountInitial Purchase: ̀ 5,000/- and in multiples of 1 for purchases and for ̀ 0.01 for switches.Additional Purchase: `1000 & in multiples of `1.for purchases and for `0.01 for switches.Ideal Investment Horizon: 2.5 years & above

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: a) For redemption / switch out of upto 15% of the initial investment amount (limit) purchased or switched in within 18 months from the date of allotment: Nil.b) If units redeemed or switched out are in excess of the limit within 18 months from the date of allotment: 2%.c) If units are redeemed or switched out on or after 18 months from the date of allotment: Nil.


$Standard Deviation

Modified Duration

Portfolio Yield

3.20%

3.14 yrs

9.14%

This product is suitable for investors who are seeking*:� Income over a medium term investment horizon� Investment in debt, government securities & money

market instruments with portfolio Macaulay duration between 3 years & 4 years


39


Low

Medium

HighAn open-ended medium term debt scheme investing in instrumentssuch that the macaulay duration of the portfolio is between 3 years and 4 years

KOTAK MEDIUM TERM FUND


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



AAUM: crs`3,380.37

AUM: `3,358.36 crs

Benchmark: NIFTY Medium Duration Debt Index


Folio count: 14,828



PORTFOLIO

Futures

GS CG 7.26% 14/01/2029-DEC2019 4.65

Futures (Market value represents Notional Value) - Total 4.65

Debt Instruments




Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) CARE AA(CE) 6.80

Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 5.78

Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) CRISIL AAA 4.39

Aasan Corporate Solutions Pvt. Ltd.

( Guaranteed by a Piramal Group of Company and Shree Krishna Trust ) ICRA A-(CE) 3.42


Talwandi Sabo Power Ltd.

( Unconditional and Irrevocable Corporate Guarantee of Vedanta Ltd.) CRISIL AA(CE) 1.69

Essel Lucknow Raebareli Toll Roads Limited ( Funding against NHAI Annuity) CARE AA 1.38

ECL Finance Ltd. CARE AA- 1.33

The Indian Hotels Company Ltd. ICRA AA 1.16

Hinduja Leyland Finance Ltd. CRISIL AA- 1.04

YES Bank Ltd. ICRA BBB+ 0.94

EMBASSY OFFICE PARKS REIT CRISIL AAA 0.79

Bharti Telecom Ltd. CRISIL AA+ 0.69


IOT Utkal Energy Services Ltd. CRISIL AAA 0.14

Aarish Solar Power Ltd.



Aashman Energy Pvt. Ltd.



Divyesh Power Pvt. Ltd.



Elena Renewable Energy Pvt. Ltd.



Pratyash Renewable Pvt. Ltd.



SEI Baskara Power Pvt. Ltd.



SEI Enerstar Renewable Energy Pvt. Ltd.



SEI Mihir Energy Pvt. Ltd.



Shreyas Renwable Energy Pvt. Ltd.



Zuvan Energy Pvt. Ltd.



Tata Sons Private Ltd. CRISIL AAA 0.09

The Indian Hotels Company Ltd. CARE AA+ 0.09




U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(CE) 8.65

Punjab National Bank FITCH IND A 7.91

40


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

KOTAK MEDIUM TERM FUND

ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 4.36 yearsKotak Medium Term Fund NAV as on November 29, 2019: ̀ 16.0219 (Growth Option), ̀ 16.8568 (Direct Growth Option), ̀ 10.9755 (Quarterly Dividend), ̀ 11.0437 (Direct Quarterly Dividend), ̀ 11.0875 (Annual Dividend), `16.8975 (Direct Annual Dividend).*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.


Punjab & Sind Bank ICRA A+ 4.71

U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(CE) 4.15

National Highways Authority Of India CRISIL AAA 2.97

Rural Electrification Corporation Ltd. CRISIL AAA 2.97

Union Bank of India CARE AA- 2.30



Syndicate Bank CARE A+ 1.75

PNB Housing Finance Ltd. CARE AA+ 1.66

Indian Railway Finance Corporation Ltd. CRISIL AAA 1.49

Food Corporation of India CRISIL AAA(CE) 0.80

United Bank Of India CRISIL A+ 0.71

Andhra Bank CARE A+ 0.67

State Bank Of India. CRISIL AAA 0.34

Steel Authority of India Ltd. FITCH IND AA- 0.03




Government Dated Securities - Total 0.51




Piramal Enterprises Ltd. CRISIL A1+ 3.12

Bharti Telecom Ltd. CRISIL A1+ 1.47


Triparty Repo 0.09

Net Current Assets/(Liabilities) -0.84

Grand Total 100.00



ISIN Name of the Security Value Recognised inNAV(Rs. In Lacs)

% toNet Assets

Total Security Value(Rs. In Lacs)

INE202B07IK19.10% Dewan Housing Fin Co.Ltd.(Tranche I Series IB)-09/09/2019 (L) 666.92 0.20 2727.5

INE202B07IJ309.05% Dewan Housing Fin Co.Ltd.(Tranche I Series IA)-09/09/2019 (L)

2,000.06 0.60 8178.75

Securities Below Investment grade or Default

91.004.65

4.590.51

0.09-0.84

Debentures and Bonds Derivatives Commercial Paper (CP)/Certificate of Deposits (CD)

Government Dated Securities TREP & Term Deposits & Rev.Repo Net Current Assets

39.25 32.59 23.32 4.650.94

0.09-0.84

A1+, AAA, AAA(CE), IND AAA, SOV AA+, AA, AA(CE), IND AA, IND AA(CE), AA-, AA-(CE), IND AA-

A+, A+(CE), IND A, A-(CE) Derivatives BBB+ TREP & Term Deposits & Rev.Repo Net Current Assets

41

Debt Instruments


Corporate Debt/




Sikka Ports & Terminals Ltd.

( Mukesh Ambani Group ) CRISIL AAA 4.20

Reliance Industries Ltd. CRISIL AAA 2.70


ICICI Bank Ltd. CRISIL AA+ 1.08


SP Jammu Udhampur

Highway Ltd. ( Funding

against NHAI Annuity ) ICRA AAA 0.15




Power Finance





Bank Of Baroda CRISIL AA+ 4.64

Indian Railway Finance



Public Sector


Government

Dated Securities


8.27% State



7.82% State


8.45% State

Government-Punjab SOV 2.31



Government Dated


Triparty Repo 2.15

Net Current Assets/

(Liabilities) 3.95

Grand Total 100.00

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.

Investment ObjectiveThe investment objective of the Scheme is to maximise returns through an active management of a portfolio of debt and money market securities. There is no assurance or guarantee that the investment objective of the scheme will be achieved.

Available Plans/OptionsA)Regular Plan B)Direct Plan

Options: Dividend Payout, Dividend ..........Reinvestment & Growth(applicable for all plans)

Dividend FrequencyMonthly Dividend Payout & Reinvestment (12th of every Month) (w.e.f June 1, 2017), Q u a r t e r l y D i v i d e n d P a y o u t a n d Reinvestment (20th of March, June, September and December of every year) (applicable for all plans)

Ratios


Minimum Investment AmountInitial Investment: ̀ 5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: `1000 & in multiples of ̀ 1Ideal Investment Horizon: 6 months & above

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: Nil


$Standard Deviation

Modified Duration

Portfolio Yield

2.66%

4.20 yrs

7.44%

KOTAK DYNAMIC BOND FUNDMaturityShort Medium Long Volatility

Low

Medium

HighAn open-ended dynamic debt scheme investing across duration

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately




AAUM: `920.71 crs

AUM: `972.93 crs

Benchmark: Nifty Composite Debt Index


Folio count: 10,568



PORTFOLIO

ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 6.05 yearsKotak Dynamic Bond Fund NAV as on : ̀ 26.1751 (Growth Option), ̀ 27.3057 (Direct Growth Option), ̀ 11.3894 (Quarterly Dividend), ̀ 11.192 (Direct Quarterly Dividend), ̀ 21.9599 (Regular Monthly November 29, 2019Dividend), ̀ 22.6239 (Direct Monthly Dividend)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.



62.42 31.48 3.95 2.15

Debentures and Bonds Government Dated Securities Net Current Assets TREP & Term Deposits & Rev.Repo

75.09 18.81 3.95 2.15

AAA, SOV AA+, IND AA Net Current Assets TREP & Term Deposits & Rev.Repo

Investment ObjectiveThe investment objective of the Scheme is to create a portfolio of debt instruments such as bonds, debentures, Government Securities and money market instruments, including repos in permitted securities of different maturities, so as to spread the risk across different kinds of issuers in the debt markets. There is no assurance that the investment objective of the Scheme will be achieved.



Dividend FrequencyQuarterly (20th of Mar/Jun/Sep/Dec), Half Yearly (20th of Mar/Sept), Annual (12th of Mar) (applicable for all plans)

Ratios

$Source: ICRAMFI Explorer. Standard

Deviation is calculated on Annualised basis using 3 years history of monthly returns.


Load StructureEntry Load: Nil. (applicable for all plans)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 (includingSIP/STP) after 3 months from the date ofallotment of units: Nil

Note: The aforesaid revised exit load structure will be applicable only on a prospective basis for Units purchased /SIP/STP registered on or after February 22, 2018.


$Standard Deviation

Modified Duration

Portfolio Yield

3.37%

5.38 yrs

7.15%

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.


Debt Instruments



Institutions

Rent A Device Trust ( Underlying

customer Reliance Retail ) ICRA AAA(SO) 4.63




Sikka Ports & Terminals Ltd.

( Mukesh Ambani Group ) CRISIL AAA 0.81

Tata Sons Private Ltd. CRISIL AAA 0.71

Hindalco Industries Ltd. CRISIL AA 0.02






National Highways

Authority Of India CRISIL AAA 1.84

U P Power Corporation Ltd

( Guaranteed By UP

State Government ) FITCH IND AA(CE) 1.12

NHPC Ltd. ICRA AAA 0.27

Public Sector









Government Dated





Corporate Debt/


Muthoot Finance Ltd. CRISIL A1+ 3.96




Steel Authority of India Ltd. CARE A1+ 3.92

Public Sector


Reverse Repo 4.76

Triparty Repo 2.11

Net Current Assets/

(Liabilities) 2.43

Grand Total 100.00

42


Low

Medium

HighAn open-ended medium term debt scheme investing in instruments such that themacaulay duration of the portfolio is between 4 years and 7 years

KOTAK BOND FUND


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Fund Manager: Mr. Abhishek Bisen*

AAUM: crs`1,881.85

AUM: `1,894.01 crs

Benchmark: NIFTY Medium to Long Duration Debt Index


Folio count: 4,230



ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 8.77 years.Kotak Bond Fund NAV as on November 29, 2019: `54.3784 (Growth Option), `57.5293 (Direct Growth Option), ̀ 12.1603 (Quarterly Dividend), ̀ 15.57 (Direct Quarterly Dividend), `33.3158 (Annual Dividend), `23.652 (Direct Annual Dividend)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.



58.45 24.37 7.88 6.87 2.43

Government Dated Securities Debentures and Bonds Commercial Paper (CP)/Certificate of Deposits (CD)


79.38 11.32 6.87 2.43

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

Investment ObjectiveThe objective of the Plan is to generate risk-free returns through investments in sovereign securities issued by the Central Government ...and/or State Government(s) and/or any security unconditionally guaranteed by the Government of India, and/or reverse repos in 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 liquidity requirements of the Plan. To ensure total safety of Unit holders' funds, the Plan does not invest in any other securities such as 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 prevailing rules and regulations specified in this 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, in the manner allowed by SEBI/RBI in conformity with the guidelines, rules and regulations in this respect. There is no 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 principal or interest amount.

Available Plans/OptionsA) Regular Non Direct Plan, B) PF & Trust Non Direct Plan, C) Regular Direct Plan,D) PF & Trust Direct Plan.Options: Dividend Payout, Dividend .........Reinvestment & Growth (applicable for all plans)

Dividend FrequencyQuarterly (20th of Mar/Jun/Sep/Dec)

Ratios



Load StructureEntry 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)


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



yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Government Dated Securities 7.57% Central Government SOV 32.827.26% Central Government SOV 12.937.27% Central Government SOV 12.377.69% Central Government SOV 10.327.32% Central Government SOV 6.746.45% Central Government SOV 6.47

7.72% Central Government SOV 3.46Government DatedSecurities - Total 85.11Triparty Repo 11.97Net Current Assets/(Liabilities) 2.92Grand Total 100.00

$Standard DeviationA)Regular PlanB) PF & Trust Plan

Modified Duration

Portfolio Yield

4.68%4.68%

6.38 yrs

6.66%


Low

Medium

HighAn open-ended debt scheme investing in government securities across maturity

KOTAK GILT FUND

Fund Manager: Mr. Abhishek Bisen*

AAUM: crs`464.57

AUM: `463.19 crs

Benchmark: Nifty All Duration G-Sec Index

Allotment date: Regular Plan - December 29, 1998;

PF & Trust Plan - November 11, 2003

Folio count: 1,767

Product Label

Riskometer



ALLOCATION (%)

RATING PROFILE (%)

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 10.79 years.Kotak Gilt Fund NAV as on November 29, 2019: ̀ 67.5044 (Regular-Growth), ̀ 72.3111 (Regular-Growth-Direct), ̀ 14.7079 (Quarterly-Dividend), ̀ 16.3309 (Quarterly-Dividend Direct), ̀ 69.0612 (PF & Trust-Growth), ̀ 74.0571(PF & Trust-Growth Direct), ̀ 12.0304 (PF & Trust-Quarterly Dividend )*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.


43


85.11 11.97 2.92

Government Dated Securities TREP & Term Deposits & Rev.Repo Net Current Assets

85.11 11.97 2.92

SOV TREP & Term Deposits & Rev.Repo Net Current Assets

AU Small Finance Bank Ltd. 0.04AXIS Bank Ltd. 1.98AXIS Finance Ltd. 0.14Aarish Solar Power Ltd.( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02Aasan Corporate Solutions Pvt. Ltd.( Guaranteed by a Piramal Group of Company and Shree Krishna Trust ) 0.35Aashman Energy Pvt. Ltd.( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02Adani Ports and Special Economic Zone Limited 0.49Aditya Birla Finance Ltd. 0.85Andhra Bank 0.72Avendus Finance Pvt Ltd. 0.10Bahadur Chand Investments Private Limited 0.30Bajaj Finance Ltd. 1.01Bajaj Housing Finance Ltd. 0.36Bank Of Baroda 0.99Bharti Telecom Ltd. 0.66Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) 0.17Birla Corporation Ltd. 0.04Birla Group Holding Private Limited 0.29Central Government 14.67Chennai Petroleum Corporation Ltd. 0.40Cholamandalam Investment and Finance Company Ltd. 0.57Citicorp Finance (India) Ltd. 0.05Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) 0.55Dalmia Cement (Bharat) Ltd 0.19Divyesh Power Pvt. Ltd.( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02ECL Finance Ltd. 0.30Embassy Office Parks Reit 0.15East-North Interconnection Company Limited ( Operational power transmission project ) 0.02Elena Renewable Energy Pvt. Ltd.( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02Essel Lucknow Raebareli Toll Roads Limited ( Funding against NHAI Annuity) 0.05Export-Import Bank of India 0.03Food Corporation of India (Guaranteed by Govt of India) 0.29Fullerton India Credit Co. Ltd. 0.48Future Lifestyle Fashions Ltd. 0.10Godrej Properties Limited 0.10Grasim Industries Ltd. 0.03HDB Financial Services Ltd. 1.36HDFC Bank Ltd. 0.18HDFC Ltd. 3.96HPCL Mittal Energy Ltd. 0.08Hero FinCorp Ltd. 0.19Hindalco Industries Ltd. 0.00Hinduja Leyland Finance Ltd. 0.05Hindustan Petroleum Corporation Ltd. 0.05Hindustan Zinc Ltd. 0.94ICICI Bank Ltd. 0.56IIFL Facilities Services Limited 0.20IIFL Home Finance Ltd. 0.11IOT Utkal Energy Services Ltd. 0.02Indian Oil Corporation Ltd. 0.58Indian Railway Finance Corporation Ltd. 0.49Indostar Capital Finance Limited 0.23IndusInd Bank Ltd. 2.92Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) 0.53JM Financial Credit Solutions Ltd. 0.04JM Financial Products Limited 0.30JSW Techno Projects Management Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) 0.22Jyothy Fbricare Services Ltd. ( Guaranteed By Jyothy Laboratories Ltd ) 0.07Kotak Mahindra Investments Ltd. 0.05Kotak Mahindra Prime Ltd. 0.30L & T Finance Ltd. 0.52L & T Housing Finance Ltd. 0.12L & T Infrastructure Finance Company Ltd. 0.59LIC Housing Finance Ltd. 2.71Mahindra & Mahindra Financial Services Ltd. 1.28Manappuram Finance Ltd. 0.53Muthoot Finance Ltd. 1.45NHPC Ltd. 0.02Nabha Power Ltd. ( Guaranteed by Larsen & Toubro Ltd ) 0.44Nabha Power Ltd. ( Letter of Comfort from Larsen & Toubro Ltd ) 0.44National Bank for Agriculture & Rural Development 5.00National Highways Authority Of India 0.35National Housing Bank 1.49National Thermal Power Corporation Ltd. 0.57Nayara Energy Limited 0.10

44

Details of exposure across all Debt Funds of Kotak Mahindra Mutual Fund as on November 30, 2019

Issuer Name %age of Exposure to Debt AUM $

Issuer Name

Industry / Sector %age of Exposure to Debt AUM $BANK 10.60CASH (TREP/REVERSE REPO) 3.95CORPORATES 24.35FINANCIAL SERVICES 27.02GOI/TBILLS 20.26NBFC 13.67REAL ESTATE 0.15Total 100.00

45

%age of Exposure to Debt AUM $

Nirma Ltd. 0.06Nuvoco Vistas Corporation Ltd. 0.09Oriental Bank of Commerce 0.39PNB Housing Finance Ltd. 0.16Piramal Enterprises Ltd. 0.25Power Finance Corporation Ltd. 3.84Power Grid Corporation of India Ltd. 0.12Powergrid Vizag Transminssion Ltd. (Guaranteed by Powergrid Corp ) 0.02Pratyash Renewable Pvt. Ltd.( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02Prestige Estates Projects Limited 0.15Punjab & Sind Bank 0.40Punjab National Bank 0.37Reliable Devices Trust ( Underlying customer Reliance Retail ) 0.89Reliance Industries Ltd. 1.92Reliance Jio Infocomm Ltd. 4.11Reliance Jio Infocomm Ltd. (Guaranteed by Reliance Industries ) 0.19Reliance Retail Limited 0.98Rent A Device Trust ( Underlying customer Reliance Retail ) 0.88Rural Electrification Corporation Ltd. 3.94SEI Baskara Power Pvt. Ltd.( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02SEI 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. ) 0.02SEI Mihir Energy Pvt. Ltd.( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02SP Jammu Udhampur Highway Ltd. ( Funding against NHAI Annuity ) 0.13Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) 0.48Shreyas Renwable Energy Pvt. Ltd.( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02Shriram City Union Finance Ltd. 0.07Shriram Transport Finance Co Ltd. 0.36Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) 0.32Small Industries Development Bank Of India 2.67Standard Chartered Investment & Loan India Ltd. 0.10State Bank Of India. 0.80State Government 5.59Steel Authority of India Ltd. 1.47Sundaram BNP Paribas Home Finance Ltd 0.09Sundaram Finance Ltd. 0.33Syndicate Bank 0.70TREP/Reverse Repo 3.95Talwandi Sabo Power Ltd. (Guaranteed by Vedanta Ltd.) 0.36Tata Capital Financial Services Limited 1.40Tata Capital Housing Finance Ltd. 0.90Tata Motors Finance Ltd. 0.50Tata Motors Finance Solutions Ltd. 0.25Tata Motors Ltd. 1.14Tata Sons Private Ltd. 0.56Tata Steel Ltd. 0.04The Indian Hotels Company Ltd. 0.05U P Power Corporation Ltd ( Guaranteed By UP State Government ) 1.62Ultratech Cement Ltd. 0.25Union Bank of India 0.43United Bank Of India 0.03Vedanta Ltd. 0.79Vizag General Cargo Berth Pvt. Ltd. (Guaranteed by Vedanta Ltd ) 0.05YES Bank Ltd. 0.10Zuvan Energy Pvt. Ltd.( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.02Total 100.00

Key Credit Brief provides the Key Highlights for select counterparties in our portfolio.Please for the updated Key Credit Brief.click hereFor viewing this on the desktop please visit: Kotak MF website>> Market & Funds >> Fund Updates >> Key Credit Brief. Also you can scan the QR code for Key Credit Brief.

https://assetmanagement.kotak.com/key-credit-brief

Investment ObjectiveTo generate long-term capital appreciation from a portfolio created by investing in specified open-ended equity, and debt schemes of Kotak Mahindra Mutual Fund. However, there is no assurance that the investment objective of the Scheme will be realized.


Options: Dividend Payout,Dividend Reinvestment & Growth (applicable for all plans)

Dividend FrequencyTrustee�s DiscretionMinimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investment Horizon: 3 years & above

Load StructureEntry 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 PlanExit 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.


Equity & Equity relatedMutual Fund Units Kotak Savings FundDirect Growth 43.07Kotak Bond DirectPlan Growth 16.68Kotak Emerging EquityScheme Direct Growth 13.36Kotak Standard MulticapFund Direct Growth 9.81Kotak Small Cap FundDirect Growth 6.83

Kotak Infrastructure &Economic Reform FundDirect Growth 3.79Kotak Liquid FundDirect Plan Growth 1.42Mutual Fund Units - Total 94.96Triparty Repo 4.57Net Current Assets/(Liabilities) 0.47Grand Total 100.00

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.

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

KOTAK ASSET ALLOCATORFUND

Investment style For Equity:


Large

Medium

Small

Maturity For Debt:


Low

Medium

High



PORTFOLIO


Fund Manager: Mr. Devender Singhal & Mr. Arjun Khanna*AAUM: `42.60 crsAUM: `43.79 crsBenchmark: NIFTY 50 Hybrid Composite Debt 50:50 Index Allotment date: August 9, 2004Folio count: 2,722

Kotak Asset Allocator Fund NAV as on November 29, 2019: ̀ 84.014 (Dividend Option), ̀ 87.692 (Direct Dividend Option), ̀ 86.309 (Growth Option), ̀ 89.299 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



46

94.96 4.57 0.47

Unrated TREP & Term Deposits & Rev.Repo Net Current Assets

Investment ObjectiveThe primary investment objective of the scheme is to provide long term capital 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.




Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investment Horizon: 3 years & above

Load StructureEntry 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.



Mutual Fund Units

Pinebridge US Large Cap

Research Enhance Fund Overseas Mutual Fund 97.09


Net Current Assets/

(Liabilities) 2.91

Grand Total 100.00

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.


An open-ended fund of funds scheme investing in units of funds that investspredominantly in companies having assets, products or operations in united states

KOTAK US EQUITY FUNDInvestment style


Large

Medium

Small



PORTFOLIO


Kotak US Equity Fund NAV as on November 29, 2019: ̀ 18.156 (Dividend Option), ̀ 18.992 (Direct Dividend Option), ̀ 18.158 (Growth Option), ̀ 18.994 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61.

Fund Manager: Mr. Arjun Khanna*

AAUM: `12.28 crs

AUM: `12.01 crs

Benchmark: Standard & Poor's 500 Total Return Net Index in USD is the benchmark of the underlying scheme. The same converted into INR using RBI reference rate will be the benchmark for the scheme.


Folio count: 1,499


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

Riskometer


47

97.09 2.91

Overseas Mutual Fund Net Current Assets

Investment ObjectiveThe investment objective of the scheme is to provide long-term capital appreciation by investing in an overseas mutual fund scheme that invests in a diversified portfolio of securities as prescribed by SEBI from time to time in global emerging markets. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.





Load StructureEntry 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



Mutual Fund Units

Signature Emerging

Markets Fund Overseas Mutual Fund 71.01

ishares MSCI Emerging

Markets ETF Overseas Mutual Fund 24.88

Mutual Fund

Units - Total 95.89

Net Current Assets/

(Liabilities) 4.11

Grand Total 100.00

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


An open-ended fund of fund scheme investing in overseas mutual fundschemes investing in global emerging markets

KOTAK GLOBAL EMERGING MARKET FUNDInvestment style


Large

Medium

Small



PORTFOLIO


Kotak Global Emerging Market Fund NAV as on November 29, 2019: ̀ 16.374 (Dividend Option), ̀ 17.323 (Direct Dividend Option), ̀ 16.373 (Growth Option), ̀ 17.252 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61.


AAUM: `33.00 crs

AUM: `31.85 crs

Benchmark: MSCI Emerging Market index


Folio count: 7,045


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

Riskometer


48

95.89 4.11

Overseas Mutual Fund Net Current Assets

Investment ObjectiveThe primary investment objective of the Scheme is to provide long term capital 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.





Load StructureEntry 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;


Equity & Equity related Mutual Fund Units INVESTEC GLOBALGOLD I ACC Overseas Mutual Fund 97.20Mutual Fund Units - Total 97.20

Triparty Repo 2.17Net Current Assets/(Liabilities) 2.80Grand Total 100.00

An open-ended fund of fund scheme investing in predominantly in units offalcon gold equity fund or in other similar overseas mutual fund schemes

KOTAK WORLD GOLD FUNDInvestment style


Large

Medium

Small



PORTFOLIO


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



yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

Riskometer

Kotak World Gold Fund NAV as on November 29, 2019: ̀ 8.312 (Dividend Option), ̀ 8.748 (Direct Dividend Option), ̀ 10.031 (Growth Option), ̀ 10.517 (Direct Growth Option)*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61.


AAUM: `45.38 crs

AUM: `46.02 crs

Benchmark: Financial Times Gold Mines Total Price Index, in USD is the benchmark of Falcon Gold Equity Fund. The above translated to INR using the RBI Reference Rate will be the benchmark of Kotak World Gold Fund.

Allotment date: June 06, 2008

Folio count: 12,364


49

97.2 2.17 0.63

Overseas Mutual Fund TREP & Term Deposits & Rev.Repo Net Current Assets

Kotak Gold ETF NAV as on November 29, 2019: `333.4546*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61.

Investment ObjectiveThe investment objective of the scheme is to generate returns that are in line with the returns on investment in physical gold, subject to tracking errors.

Available PlanRegular Plan

Minimum Investment AmountThrough Exchange:10 Units,Through AMC: 10000 Units,Ideal Investment Horizon: 3 years and....... above


Total Expense Ratio**Regular: 0.55%

7


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Gold 1 Kg Fineness 0.995 GOVERNMENT 99.41

Equity & Equity


Net Current Assets/

(Liabilities) 0.59

Grand Total 100.00

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

An open-ended scheme replicating/ tracking physical gold prices



PORTFOLIO


Tracking Error: 0.06%

Fund Manager: Mr. Abhishek Bisen & Mr. Satish Dondapati*

AAUM: `482.07 crs

AUM: `478.57 crs

Benchmark: Price of Gold


Folio count: 36,071



50

GOVERNMENT Net Current Assets

0.5999.41

Investment ObjectiveThe investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the Nifty 50 subject to tracking errors. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.


Ratios

Minimum Investment AmountThrough Exchange:1 Unit,Through AMC: 50000 Units,Ideal Investment Horizon: 3 years and above



7

Portfolio Turnover:

Tracking Error:

24.55%

0.07%








Tata Consultancy












HCL Technologies Ltd. Software 1.23

Bajaj Finserv Ltd. Finance 1.11

Nestle India Ltd. Consumer Non Durables 1.04




Sun Pharmaceuticals

Industries Ltd. Pharmaceuticals 1.00

Titan Company Ltd. Consumer Durables 0.97




Of India Ltd Power 0.92

Bajaj Auto Ltd. Auto 0.83

Bharat Petroleum

Corporation Ltd. Petroleum Products 0.83

Oil & Natural Gas

Corporation Ltd. Oil 0.83

Coal India Ltd. Minerals/Mining 0.74

Britannia Industries Ltd. Consumer Non Durables 0.72

Dr Reddys Laboratories Ltd Pharmaceuticals 0.71

Wipro Ltd. Software 0.71

Indian Oil Corporation Ltd Petroleum Products 0.65


Eicher Motors Ltd Auto 0.64

Hero MotoCorp Ltd. Auto 0.64

UPL Ltd Pesticides 0.63

Grasim Industries Ltd. Cement 0.62

Adani Port and Special

Economic Zone Limited Transportation 0.60

Hindalco Industries Ltd Non - Ferrous Metals 0.59

Tata Motors Ltd. Auto 0.58

JSW Steel Ltd. Ferrous Metals 0.53

Vedanta Ltd. Non - Ferrous Metals 0.53

Cipla Ltd. Pharmaceuticals 0.48

Bharti Infratel Ltd. Telecom - Equipment &

Accessories 0.47


Zee Entertainment

Enterprises Ltd Media and Entertainment 0.36

Yes Bank Ltd Banks 0.29

Equity & Equity


Net Current Assets/

(Liabilities) 0.03

Grand Total 100.00

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

An open-ended scheme replicating/ tracking nifty 50 index



PORTFOLIO


Fund Manager: Mr. Devender Singhal & Mr. Satish Dondapati*

AAUM: `882.65 crs

AUM: `889.72 crs



Folio count: 9,010


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Kotak Nifty ETF NAV as on November 29, 2019: ̀ 124.9789*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.


51

30.22 12.36 12.16 11.02 10.495.65

3.302.19

1.941.69

8.98

Banks Software Petroleum Products Finance Consumer Non Durables Auto

Construction Project Pharmaceuticals Power Telecom - Services REST

7

Investment ObjectiveThe investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the BSE SENSEX subject to tracking errors. However, there is no assurance or ..........guarantee that the investment objective of the scheme will be achieved.


Ratios




Portfolio Turnover:

Tracking Error:

8.58%

0.11%







Tata Consultancy













HCL Technologies Ltd. Software 1.45




Sun Pharmaceuticals

Industries Ltd. Pharmaceuticals 1.15



Of India Ltd Power 1.08

Oil & Natural Gas

Corporation Ltd. Oil 0.99

Bajaj Auto Ltd. Auto 0.98


Hero MotoCorp Ltd. Auto 0.75

Tata Motors Ltd. Auto 0.69

Vedanta Ltd. Non - Ferrous Metals 0.63


Tata Motors Ltd - DVR Auto 0.09

Equity & Equity


Net Current Assets/

(Liabilities) 0.01

Grand Total 100.00



KOTAK SENSEX ETF

An open-ended scheme replicating/ tracking S&P BSE sensex index



PORTFOLIO



AAUM: ` crs 13.43

AUM: `13.54 crs

Benchmark: S&P BSE SENSEX TRI

Allotment date: June 6, 2008

Folio count: 1,112


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Kotak Sensex ETF NAV as on November 29, 2019: ̀ 420.5209*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.


52

34.83 13.88 11.68 11.67 10.286.01

3.852.25

2.001.15

2.40

Banks Software Petroleum Products Finance Consumer Non Durables Auto

Construction Project Power Telecom - Services Pharmaceuticals REST

Investment ObjectiveThe investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of stocks as represented by the Nifty Bank Index subject to tracking errors. There is no assurance or guarantee that the investment objective of the scheme will be achieved.

Available Plan/OptionsRegular Plan Option - Dividend Payout

Ratios

Minimum Investment AmountThrough Exchange:1 Unit,Through AMC: 15000 Units,Ideal Investment Horizon: 3 years and .......above



7










Federal Bank Ltd. Banks 1.44

RBL Bank Ltd Banks 1.27


Bank Of Baroda Banks 1.02

IDFC First Bank Limited Banks 0.71

Punjab National Bank Banks 0.54

Equity & Equity


Net Current Assets/

(Liabilities) 0.32

Grand Total 100.00

Portfolio Turnover:

Tracking Error:

45.52%

0.07%


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

KOTAK BANKING ETF

An open-ended scheme replicating/ tracking nifty bank index



PORTFOLIO


Product Label

Riskometer

Kotak Banking ETF NAV as on November 29, 2019: ̀ 327.5982*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61.


53


AAUM: `8,269.59 crs

AUM: `8,497.10 crs

Benchmark: Nifty Bank Index TRI


Folio count: 6,076

Banks Net Current Assets

99.68 0.32

Investment ObjectiveThe investment objective of the scheme is to provide returns that closely correspond to the total returns of Nifty PSU Bank Index, subject to tracking errors. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.


Ratios




7

Portfolio Turnover:

Tracking Error:

314.68%

0.28%





Bank Of Baroda Banks 21.55

Punjab National Bank Banks 11.42

Canara Bank Banks 11.25

Union Bank Of India Banks 6.18

Bank of India Banks 5.66

Indian Bank Banks 2.88

Syndicate Bank Banks 2.82

Oriental Bank of Commerce Banks 2.23

Central Bank Of India Banks 2.08

The Jammu and

Kashmir Bank Ltd. Banks 1.96

Allahabad Bank. Banks 1.79

Equity & Equity


Net Current Assets/

(Liabilities) 0.52

Grand Total 100.00

KOTAK PSU BANK ETF

An open-ended scheme replicating/ tracking nifty PSU bank index


AAUM: `38.65 crs

AUM: `40.41 crs

Benchmark: Nifty PSU Bank TRI


Folio count: 2,507



PORTFOLIO



yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

Riskometer

Kotak PSU Bank ETF NAV as on November 29, 2019: ̀ 264.5504*For Fund Manager experience, please refer page 62-64. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 55-61. For last three dividends, please refer page no 65-67.


54

Banks Net Current Assets

99.48 0.52

4555

Scheme Performances as on November 29, 2019

Scheme Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

Kotak Equity Opportunities Fund - Growth

Since Inception 18.11% 15.13% 2.99% 15.41% 1,26,202 85,448 88,693

Last 1 Year 13.40% 9.90% 3.50% 12.34% 11,340 10,990 11,234

Last 3 Years 11.88% 13.63% -1.75% 15.12% 13,999 14,665 15,252

Last 5 Years 9.85% 8.60% 1.25% 8.39% 16,003 15,112 14,967

Kotak Equity OpportunitiesFund - Growth Nifty 200 TRI# Nifty 50 TRI## Kotak Equity Opportunities

Fund - GrowthNifty 200 TRI# Nifty 50 TRI##ALPHA

Scheme Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

Kotak Standard Multicap Fund - GrowthKotak Standard Multicap

Fund - GrowthNifty 200 TRI# Nifty 50 TRI## Kotak Standard Multicap

Fund - GrowthNifty 200 TRI# Nifty 50 TRI##

Since Inception 13.73% 10.75% 2.98% 10.70% 37,251 28,388 28,265

Last 1 Year 12.80% 9.90% 2.89% 12.34% 11,280 10,990 11,234

Last 3 Years 13.57% 13.63% -0.05% 15.12% 14,644 14,665 15,252

Last 5 Years 10.93% 8.60% 2.34% 8.39% 16,811 15,112 14,967

ALPHA

Scheme Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

Kotak Emerging EquityFund - Growth

Nifty Midcap100 TRI#

Nifty 50 TRI## Kotak Emerging EquityFund - Growth

Nifty 50 TRI##Nifty Midcap 100 TRI#

Since Inception 11.59% 11.94% -0.35% 10.81% 40,164 41,770 36,731

Last 1 Year 11.28% -0.66% 11.94% 12.34% 11,128 9,934 11,234

Last 3 Years 9.82% 6.09% 3.73% 15.12% 13,242 11,939 15,252

Last 5 Years 11.24% 7.97% 3.27% 8.39% 17,043 14,680 14,967

Kotak Emerging Equity Fund - Growth

ALPHA

Kotak Bluechip Fund Nifty 50 TRI# S&P BSE SENSEX TRI## Kotak Bluechip Fund Nifty 50 TRI# S&P BSE SENSEX TRI##

Kotak Bluechip Fund

Since Inception 19.76% 17.21% 2.55% 17.38% 2,07,750 1,44,696 1,48,376

Last 1 Year 14.08% 12.34% 1.74% 14.01% 11,408 11,234 11,401

Last 3 Years 12.10% 15.12% -3.02% 16.67% 14,084 15,252 15,874

Last 5 Years 8.51% 8.39% 0.12% 8.70% 15,051 14,967 15,183

Since inception date of Kotak Bluechip Fund - Reg Growth is 4/02/2003. Mr. Harish Krishnan has been managing the fund since 01/01/2014.Different plans have different expense structure. The performance details provided herein are of regular plan^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead ofPrice Return Variant (PRI).As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007 and TRI Values since 31st May 2007.Since Inception date of Kotak Bluechip Fund- Dividend plan is 29/12/1998. Alpha is difference of scheme return with benchmark return.

ALPHA

Kotak Small Cap Fund - Growth

Kotak Small Cap Fund -Growth

Nifty SmallCap 100 TRI# Nifty 50 TRI## Kotak Small Cap Fund -

GrowthNifty Small

Cap 100 TRI# Nifty 50 TRI##

Since Inception 14.30% 11.31% 2.99% 14.16% 71,978 48,661 70,728

Last 1 Year 5.80% -5.42% 11.22% 12.34% 10,580 9,458 11,234

Last 3 Years 5.91% 0.85% 5.05% 15.12% 11,877 10,258 15,252

Last 5 Years 8.23% 3.34% 4.89% 8.39% 14,857 11,787 14,967

Scheme Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

ALPHA

56

Kotak Infrastructure and Economic Reform Fund - Growth

Kotak Infrastructure andEconomic Reform Fund - Growth

India Infrastructure Index(Customised Index by IISL)# Nifty 50 TRI## Kotak Infrastructure and

Economic Reform Fund - GrowthNifty 50 TRI##

India Infrastructure Index(Customised Index by IISL)#

Since Inception 5.98% -0.01% 5.99% 8.71% 19,803 9,988 26,730

Last 1 Year 6.33% 6.04% 0.29% 12.34% 10,633 10,604 11,234

Last 3 Years 5.57% 3.74% 1.83% 15.12% 11,764 11,164 15,252

Last 5 Years 5.92% 1.36% 4.56% 8.39% 13,334 10,697 14,967Scheme Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 01/02/2015.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

ALPHA

Kotak India Growth - Series 4

Kotak India Growth Fund - Series 4

Nifty 200 TRI# Nifty 50 TRI## Nifty 50 TRI##

Since Inception -2.24% 7.24% -9.48% 10.52% 9,606 11,318 11,939

Last 1 Year 6.75% 9.90% -3.16% 12.34% 10,675 10,990 11,234

Scheme Inception date is 20/02/2018. Mr. Devender Singhal has been managing the fund since 09/05/2019.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer.# Name of Scheme Benchmark. ## Name of Additional Benchmark. Alpha is difference of scheme return with benchmark return.


Nifty 200 TRI#ALPHA




Since Inception 1.61% 6.11% -4.50% 9.01% 10,250 10,958 11,423

Last 1 Year 11.12% 9.90% 1.22% 12.34% 11,112 10,990 11,234

Scheme Inception date is 15/05/2018. Mr. Harish Krishnan has been managing the fund since 15/05/2018.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer.# Name of Scheme Benchmark. ## Name of Additional Benchmark. Alpha is difference of scheme return with benchmark return.


Nifty 200 TRI#ALPHA

Kotak Tax Saver Fund - GrowthKotak Tax SaverFund - Growth

Nifty 500 TRI# Nifty 50 TRI## Nifty 500 TRI# Nifty 50 TRI##

Since Inception 11.55% 12.42% -0.87% 12.92% 46,290 51,646 54,997

Last 1 Year 12.60% 9.08% 3.52% 12.34% 11,260 10,908 11,234

Last 3 Years 11.93% 12.92% -0.98% 15.12% 14,020 14,392 15,252

Last 5 Years 9.28% 8.52% 0.76% 8.39% 15,592 15,055 14,967Scheme Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

ALPHA

Scheme Inception date is 27/07/2005. Ms. Shibani Kurian has been managing the fund since 09/05/2019.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

Kotak India EQ Contra Fund - Growth

Nifty 100 TRI# Nifty 50 TRI## Kotak India EQ ContraFund - Growth

Nifty 100 TRI# Nifty 50 TRI##Kotak India EQ ContraFund - Growth

ALPHA

Since Inception 12.58% 13.81% -1.23% 13.59% 54,757 64,037 62,217

Last 1 Year 9.65% 11.29% -1.64% 12.34% 10,965 11,129 11,234

Last 3 Years 14.52% 14.45% 0.08% 15.12% 15,015 14,984 15,252

Last 5 Years 9.02% 8.78% 0.25% 8.39% 15,410 15,237 14,967

Kotak Tax SaverFund - Growth




Since Inception 6.58% 3.83% 2.75% 0.93% 10,827 10,480 10,116

Last 1 Year 10.02% 12.34% -2.32% 9.90% 11,002 11,234 10,990

Scheme Inception date is 31/08/2018. Ms. Shibani Kurian has been managing the fund since 09/05/2019.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.


Nifty 50 TRI#ALPHA

Kotak Balanced Advantage Fund - Growth

Since Inception 8.78% 8.91% -0.13% 5.91% 11,178 11,195 10,789

Last 1 Year 12.13% 12.56% -0.44% 12.34% 11,213 11,256 11,234

Kotak BalancedAdvantage Fund - Growth

Nifty 50 TRI## Nifty 50 TRI##

Scheme Inception date is 03/08/2018. Mr. Harish Krishnan, Mr. Abhishek Bisen have been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Alpha is difference of scheme return with benchmark return.

ALPHANIFTY 50 Hybrid

Composite Debt 50:50 Index#Kotak Balanced

Advantage Fund - GrowthNIFTY 50 Hybrid

Composite Debt 50:50 Index#

57

Kotak Equity Arbitrage Fund - Growth

Since Inception 7.40% NA NA 12.77% 27,520 NA 54,969

Last 1 Year 6.12% 6.51% -0.38% 12.34% 10,612 10,651 11,234

Last 3 Years 6.16% 5.20% 0.96% 15.12% 11,962 11,640 15,252

Last 5 Years 6.57% 6.05% 0.52% 8.39% 13,750 13,416 14,967

Kotak Equity ArbitrageFund - Growth

Nifty 50 ArbitrageIndex#

Nifty 50 TRI## Nifty 50 TRI##Kotak Equity ArbitrageFund - Growth

Nifty 50 ArbitrageIndex#

Scheme Inception date is 29/09/2005. Mr. Rukun Tarachandani has been managing the fund since 09/05/2019. Mr. Hiten Shah has been managing the fund since 03/10/2019.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

ALPHA

Kotak Liquid Fund - Regular Plan - Growth

Kotak Liquid Fund -Regular Plan - Growth NIFTY Liquid Index# CRISIL 1 Year TBill##

Kotak Liquid Fund -Regular Plan - Growth

NIFTY Liquid Index# CRISIL 1Year TBill##

Since Inception 7.40% 7.41% -0.02% 6.12% 31,494 31,574 25,972

Last 1 Year 6.68% 6.67% 0.01% 8.06% 10,668 10,667 10,806

Last 3 Years 6.87% 6.78% 0.09% 6.72% 12,203 12,174 12,154

Last 5 Years 7.35% 7.23% 0.12% 7.25% 14,253 14,174 14,189Scheme 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. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return.

ALPHA

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.The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return.

Kotak Money Market Fund - Growth

Kotak Money MarketFund - Growth

NIFTY MoneyMarket Index# CRISIL 1 Year TBill##

NIFTY MoneyMarket Index# CRISIL 1 Year TBill##Kotak Money Market

Fund - GrowthSince Inception 7.43% 7.62% -0.19% 6.10% 32,388 33,315 26,389

Last 1 Year 8.42% 7.52% 0.90% 8.06% 10,842 10,752 10,806

Last 3 Years 7.52% 7.06% 0.45% 6.72% 12,426 12,269 12,154

Last 5 Years 7.77% 7.56% 0.21% 7.24% 14,545 14,401 14,189

ALPHA

Kotak Equity Savings Fund - Growth

Kotak Equity SavingsFund - Growth

75% NIFTY 50 ARBITRAGE+ 25% Nifty 50 TRI#

Nifty 50 TRI## Nifty 50 TRI##Kotak Equity SavingsFund - Growth

75% NIFTY 50 ARBITRAGE+ 25% Nifty 50 TRI#

Since Inception 8.04% 7.23% 0.81% 10.01% 14,873 14,306 16,316

Last 1 Year 8.01% 8.14% -0.13% 12.34% 10,801 10,814 11,234

Last 3 Years 8.44% 7.74% 0.70% 15.12% 12,750 12,505 15,252

Last 5 Years 7.59% 6.81% 0.78% 8.39% 14,425 13,908 14,967

Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since 09/05/2019. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

ALPHA


Kotak Equity HybridFund

NIFTY 50 Hybrid CompositeDebt 65:35 Index# Nifty 50 TRI##

Kotak Equity HybridFund Nifty 50 TRI##

Since Inception 8.20% 9.01% -0.82% 8.92% 14,908 15,488 15,416

Last 1 Year 14.08% 12.54% 1.55% 12.34% 11,408 11,254 11,234

Last 3 Years 8.68% 12.27% -3.59% 15.12% 12,834 14,146 15,252

Last 5 Years 7.72% 8.63% -0.90% 8.39% 14,513 15,133 14,967

NIFTY 50 Hybrid CompositeDebt 65:35 Index#

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 AnnualisedGrowth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&PBSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006. Alpha is difference of scheme return with benchmark return.

ALPHA

58

Kotak Banking and PSU Debt Fund - Growth

Kotak Banking and PSU DebtFund - Growth

CRISIL Banking andPSU Debt Index# CRISIL 1 Year TBill##

CRISIL Banking andPSU Debt Index# CRISIL 1 Year TBill##

Kotak Banking and PSU DebtFund - Growth

Since Inception 7.51% NA NA 6.70% 45,536 NA 38,840

Last 1 Year 11.80% 11.42% 0.39% 8.06% 11,180 11,142 10,806

Last 3 Years 7.70% 7.72% -0.02% 6.72% 12,489 12,497 12,154

Last 5 Years 8.55% 8.76% -0.20% 7.24% 15,079 15,222 14,189


ALPHA


Kotak Low Duration Fund - Growth

Kotak Low Duration Fund -Growth

NIFTY Low DurationDebt Index# CRISIL 1 Year TBill##

NIFTY Low DurationDebt Index# CRISIL 1 Year TBill##

Kotak Low Duration Fund -Growth

Since Inception 7.79% 8.52% -0.73% 6.60% 24,124 26,100 21,182

Last 1 Year 8.78% 8.73% 0.05% 8.06% 10,878 10,873 10,806

Last 3 Years 7.54% 7.48% 0.06% 6.72% 12,434 12,413 12,154

Last 5 Years 8.31% 7.91% 0.40% 7.24% 14,914 14,638 14,189

ALPHA


Kotak Bond Short Term Fund - GrowthKotak Bond Short Term Fund -

GrowthNIFTY Short Duration

Debt Index#CRISIL 1 Year TBill## CRISIL 1 Year TBill##

Kotak Bond Short Term Fund -Growth

NIFTY Short DurationDebt Index#

Since Inception 7.75% 7.93% -0.19% 6.12% 37,151 38,307 28,415

Last 1 Year 10.44% 10.10% 0.34% 8.06% 11,044 11,010 10,806

Last 3 Years 6.89% 7.52% -0.64% 6.72% 12,210 12,429 12,154

Last 5 Years 7.89% 8.12% -0.23% 7.24% 14,627 14,781 14,189

ALPHA


Kotak Credit Risk Fund - GrowthKotak Credit Risk Fund -

GrowthNifty Credit Risk

Bond Index# CRISIL 1 Year TBill## CRISIL 1 Year TBill##Kotak Credit Risk Fund -

GrowthNifty Credit Risk

Bond Index#

Since Inception 8.42% 9.27% -0.85% 6.88% 21,660 23,336 18,898

Last 1 Year 9.59% 10.21% -0.63% 8.06% 10,959 11,021 10,806

Last 3 Years 7.00% 8.03% -1.03% 6.72% 12,249 12,605 12,154

Last 5 Years 8.33% 8.87% -0.55% 7.24% 14,925 15,305 14,189

ALPHA

Kotak Dynamic Bond Fund - Growth

Kotak Dynamic BondFund - Growth

NIFTY CompositeDebt Index# CRISIL 1 Year TBill## CRISIL 1 Year TBill##

Kotak Dynamic BondFund - Growth

NIFTY CompositeDebt Index#

Since Inception 8.71% 8.45% 0.27% 6.60% 26,175 25,449 20,884

Last 1 Year 12.93% 12.42% 0.52% 8.06% 11,293 11,242 10,806

Last 3 Years 7.39% 6.59% 0.80% 6.72% 12,382 12,106 12,154

Last 5 Years 9.16% 8.47% 0.69% 7.24% 15,506 15,019 14,189

ALPHA


Kotak Savings Fund - Growth

Kotak Savings Fund -Growth

NIFTY Ultra ShortDuration Debt Index# CRISIL 1 Year TBill## NIFTY Ultra Short

Duration Debt Index#CRISIL 1 Year TBill##

Kotak Savings Fund -Growth

Since Inception 7.79% 8.19% -0.40% 6.22% 31,510 33,351 25,184

Last 1 Year 8.23% 8.15% 0.08% 8.06% 10,823 10,815 10,806

Last 3 Years 7.31% 7.58% -0.27% 6.72% 12,354 12,449 12,154

Last 5 Years 7.79% 7.91% -0.12% 7.24% 14,558 14,639 14,189Scheme 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.The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return.

ALPHA

59

Kotak Corporate Bond Fund - Growth


Kotak Corporate BondFund - Growth

CRISIL CorporateBond Composite Index#

CRISIL 1 Year TBill##

Since Inception 8.27% 9.43% -1.16% 6.56% 26,346 30,004 21,704

Last 1 Year 10.27% 11.55% -1.28% 8.06% 11,027 11,155 10,806

Last 3 Years 7.89% 7.00% 0.89% 6.72% 12,558 12,249 12,154

Last 5 Years 8.83% 8.70% 0.13% 7.24% 15,273 15,179 14,189

CRISIL 1 Year TBill##Kotak Corporate Bond

Fund - GrowthCRISIL Corporate

Bond Composite Index#ALPHA


Kotak Medium Term Fund - Regular Plan - Growth

Kotak Medium Term Fund -Regular Plan - Growth

NIFTY Medium DurationDebt Index# CRISIL 10 Year Gilt##

Kotak Medium Term Fund -Regular Plan - Growth

NIFTY Medium DurationDebt Index# CRISIL 10 Year Gilt##

Since Inception 8.63% 9.00% -0.37% 8.81% 16,022 16,333 16,172

Last 1 Year 8.10% 11.70% -3.60% 12.94% 10,810 11,170 11,294

Last 3 Years 6.17% 7.08% -0.91% 4.96% 11,965 12,276 11,563

Last 5 Years 8.03% 8.46% -0.43% 8.13% 14,719 15,013 14,786

ALPHA

Scheme Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 01/04/2008.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.The performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark. Alpha is difference of scheme return with benchmark return.

Kotak Bond Fund - Regular Plan - Growth

Kotak Bond Fund -Regular Plan - Growth

NIFTY Medium to LongDuration Debt Index# CRISIL 10 Year Gilt##

Kotak Bond Fund -Regular Plan - Growth

NIFTY Medium to LongDuration Debt Index# CRISIL 10 Year Gilt##

Since Inception 8.82% NA NA NA 54,378 NA NA

Last 1 Year 11.28% 12.74% -1.46% 12.94% 11,128 11,274 11,294

Last 3 Years 4.28% 6.18% -1.90% 4.96% 11,338 11,971 11,563

Last 5 Years 7.26% 8.40% -1.14% 8.13% 14,201 14,972 14,786

ALPHA


Kotak Gilt Fund - Regular - Growth

Kotak Gilt Fund -Regular - Growth

NIFTY All DurationG-Sec Index# CRISIL 10 Year Gilt## CRISIL 10 Year Gilt##

Kotak Gilt Fund -Regular - Growth

NIFTY All DurationG-Sec Index#

Since Inception 9.55% NA NA NA 67,504 NA NA

Last 1 Year 11.91% 13.01% -1.10% 12.94% 11,191 11,301 11,294

Last 3 Years 4.82% 6.19% -1.37% 4.96% 11,516 11,974 11,563

Last 5 Years 8.22% 8.55% -0.33% 8.13% 14,851 15,077 14,786

ALPHA


Kotak Gilt Fund - PF and Trust - Growth

Kotak Gilt Fund - PF andTrust - Growth CRISIL 10 Year Gilt## CRISIL 10 Year Gilt##

Kotak Gilt Fund - PF andTrust - Growth

Since Inception 7.50% 6.00% 1.50% 5.76% 31,929 25,491 24,563

Last 1 Year 11.91% 13.01% -1.10% 12.94% 11,191 11,301 11,294

Last 3 Years 4.82% 6.19% -1.37% 4.96% 11,516 11,974 11,563

Last 5 Years 8.25% 8.55% -0.30% 8.13% 14,870 15,077 14,786

NIFTY All DurationG-Sec Index#

NIFTY All DurationG-Sec Index#ALPHA

Scheme Inception date is 09/08/2004. Mr. Devender Singhal & Mr. Arjun Khanna has been managing the fund since 09/05/2019.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006. Alpha is difference of scheme return with benchmark return.

Kotak Asset Allocator Fund - GrowthKotak Asset Allocator

Fund - GrowthNIFTY 50 Hybrid Composite

Debt 50:50 Index#S&P BSE SENSEX

TRI##Kotak Asset Allocator

Fund - GrowthNIFTY 50 Hybrid Composite

Debt 50:50 Index#S&P BSE SENSEX

TRI##Since Inception 15.11% 12.01% 3.10% 15.67% 86,309 56,838 92,944

Last 1 Year 10.53% 12.56% -2.03% 14.01% 11,053 11,256 11,401

Last 3 Years 8.96% 11.00% -2.04% 16.67% 12,934 13,672 15,874

Last 5 Years 8.46% 8.66% -0.20% 8.70% 15,014 15,156 15,183

Scheme Inception date is 20/12/2013. Mr. Arjun Khanna has been managing the fund since 09/05/2019.

Different plans have different expense structure. The performance details provided herein are of regular plan

^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.

TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

Kotak US Equity Fund - Growth

Kotak US Equity Fund -Growth

S&P 500 International TotalReturn Net Index#

Nifty 50 TRI## Kotak US Equity Fund -Growth

S&P 500 International TotalReturn Net Index#

Nifty 50 TRI##

Since Inception 10.55% 14.71% -4.15% 13.03% 18,158 22,611 20,717

Last 1 Year 13.74% 19.49% -5.75% 12.34% 11,374 11,949 11,234

Last 3 Years 11.88% 16.66% -4.78% 15.12% 14,001 15,872 15,252

Last 5 Years 9.81% 14.16% -4.35% 8.39% 15,974 19,403 14,967





Kotak Global Emerging Market Fund - Growth

Kotak Global EmergingMarket Fund - Growth

MSCI Emerging Marketindex#

Nifty 50 TRI## Nifty 50 TRI##Kotak Global EmergingMarket Fund - Growth

MSCI Emerging Marketindex#

Since Inception 4.13% 3.89% 0.24% 8.89% 16,373 15,919 28,216

Last 1 Year 12.45% 7.60% 4.85% 12.34% 11,245 10,760 11,234

Last 3 Years 7.77% 8.07% -0.30% 15.12% 12,515 12,618 15,252

Last 5 Years 3.10% 3.59% -0.49% 8.39% 11,650 11,931 14,967





Kotak World Gold Fund - Growth

Kotak World Gold Fund -Growth

Financial Times Gold MinesTotal - Price#

Nifty 50 TRI## Nifty 50 TRI##Kotak World Gold Fund -Growth

Financial Times Gold MinesTotal - Price#

60

Kotak Debt Hybrid Fund

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.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006. Alpha is difference of scheme return with benchmark return.

Kotak Debt HybridFund

CRISIL Hybrid 85 +15 - Conservative Index# CRISIL 10 Year Gilt##

Since Inception 7.75% 8.38% -0.63% 5.82% 33,039 36,262 24,736

Last 1 Year 11.73% 12.15% -0.42% 12.94% 11,173 11,215 11,294

Last 3 Years 6.34% 7.75% -1.40% 4.96% 12,024 12,506 11,563

Last 5 Years 7.90% 8.91% -1.01% 8.13% 14,633 15,333 14,786

CRISIL 10 Year Gilt##CRISIL Hybrid 85 +

15 - Conservative Index#Kotak Debt Hybrid

FundALPHA

ALPHA

ALPHA

ALPHA

ALPHA

Since Inception 0.03% 0.92% -0.89% 10.03% 10,031 11,106 29,983

Last 1 Year 41.64% 47.14% -5.50% 12.34% 14,164 14,714 11,234

Last 3 Years 4.20% 11.65% -7.45% 15.12% 11,313 13,915 15,252

Last 5 Years 4.93% 13.74% -8.81% 8.39% 12,723 19,048 14,967

61

Scheme Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

Kotak Gold ETF

Kotak Gold ETF Price of Gold# CRISIL 10 Year Gilt## Price of Gold# CRISIL 10 Year Gilt##

Since Inception 11.38% 12.53% -1.16% 6.97% 37,832 42,974 22,989

Last 1 Year 24.60% 25.54% -0.94% 12.94% 12,460 12,554 11,294

Last 3 Years 7.97% 9.00% -1.03% 4.96% 12,584 12,946 11,563

Last 5 Years 6.51% 7.59% -1.08% 8.13% 13,714 14,424 14,786

Kotak Gold ETFALPHA

Scheme Inception date is 02/02/2010. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.




Kotak Nifty ETF

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

Since Inception 10.45% 11.13% -0.68% 11.47% 26,557 28,208 29,082

Last 1 Year 12.20% 12.34% -0.14% 14.01% 11,220 11,234 11,401

Last 3 Years 14.95% 15.12% -0.17% 16.67% 15,182 15,252 15,874

Last 5 Years 8.29% 8.39% -0.10% 8.70% 14,901 14,967 15,183

ALPHA





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 9.85% 10.31% -0.46% 10.03% 29,410 30,861 29,983

Last 1 Year 13.70% 14.01% -0.30% 12.34% 11,370 11,401 11,234

Last 3 Years 16.34% 16.67% -0.33% 15.12% 15,741 15,874 15,252

Last 5 Years 8.39% 8.70% -0.31% 8.39% 14,970 15,183 14,967

ALPHA





Kotak Banking ETF

Kotak Banking ETF Nifty Bank Index TRI# Nifty 50 TRI## Kotak Banking ETF Nifty Bank Index TRI# Nifty 50 TRI##

Since Inception 12.21% 12.40% -0.18% 9.05% 17,735 17,879 15,383

Last 1 Year 19.26% 19.45% -0.18% 12.34% 11,926 11,945 11,234

Last 3 Years 20.10% 20.31% -0.21% 15.12% 17,317 17,407 15,252

ALPHA





Kotak PSU Bank ETF

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

Since Inception 0.21% 0.76% -0.55% 7.69% 10,261 10,960 24,449

Last 1 Year -9.18% -8.42% -0.76% 12.34% 9,082 9,158 11,234

Last 3 Years -6.01% -5.46% -0.55% 15.12% 8,305 8,452 15,252

Last 5 Years -8.89% -8.44% -0.45% 8.39% 6,275 6,430 14,967

ALPHA

Kotak Bluechip Fund - Growth, *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 04/02/2003. Mr. Harish Krishnan has been managing the fund since 15/11/2013.Kotak Balanced Advantage Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index . Scheme Inception date is 03/08/2018. Mr. Abhishek Bisen & Mr. Harish Krishnan has been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019.Kotak India Growth Fund Series 5- Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 15/05/2018. Mr. Harish Krishnan has been managing the fund since 15/05/2018.Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since 09/05/2019. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019.Kotak Infrastructure and Economic Reform Fund - Growth, *Name of the Benchmark - India Infrastructure Index (Customised Index by IISL), Scheme Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 31/01/2015.

Scheme Names

Kotak Emerging Equity Fund - Growth

Kotak Small Cap Fund - Growth

Kotak Equity Hybrid Fund - Growth

1 YEAR 3 YEAR 5 YEAR Since Inception

SchemeReturns(%)^

BenchmarkReturns (%)^*

SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


ABOUT OUR FUND MANAGERSName: Mr. Harsha UpadhyayaMr. Harsha Upadhyaya manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.Kotak Equity Opportunities Fund (Sep 9, �04), Kotak Standard Multicap Fund (Sep 11, �09), Kotak Tax Saver Fund (Nov. 23,'05).Business ExperienceMr. 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.

Name: Mr. Harish KrishnanMr. Harish Krishnan manages 7 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.Kotak Bluechip Fund (Feb 04, �03), Kotak Infrastructure & Economic Reform Fund (Feb 25, '08), Kotak India Growth Fund Series 5 (May15,�18), Kotak Balanced Advantage Fund (Aug. 03,�18), Kotak Equity Savings Fund (Oct. 13' 14), Kotak Focused Equity fund (Jul 16, '19), Kotak Pioneer Fund (Oct 31, '19).Business ExperienceMr. 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.

Name: Mr. Pankaj TibrewalMr. Pankaj Tibrewal manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.Kotak Small Cap Fund (Feb. 24,�05), Kotak Emerging Equity Fund (Mar 30,'07), Kotak Equity Hybrid Fund (Nov. 25,'99)Business ExperienceMr. 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.

Scheme Names

Kotak Equity Opportunities Fund - Growth

Kotak Standard Multicap Fund - Growth

Kotak Tax Saver Fund - Growth


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak Equity Opportunities Fund - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 09/09/2004. Mr . Harsha Upadhyaya has been managing the fund since 04/08/2012.Kotak Standard Multicap Fund - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 11/09/2009. Mr . Harsha Upadhyaya has been managing the fund since 04/08/2012.Kotak Tax Saver Fund - Growth, *Name of the Benchmark - Nifty 500 TRI, Scheme Inception date is 23/11/2005. Mr . Harsha Upadhyaya has been managing the fund since 25/08/2015.

Kotak Equity Hybrid Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 65:35 Index, Scheme Inception date is 25/11/1999. Mr. Pankaj Tibrewal has been managing the fund since 25/08/2015. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.Kotak Emerging Equity Fund - Growth, *Name of the Benchmark - Nifty Midcap 100 TRI, Scheme Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010.Kotak Smallcap Fund - Growth, *Name of the Benchmark - NIFTY Smallcap 100 TRI, Scheme Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010.

Scheme Names




SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


14.08 12.54 8.68 12.27 7.72 8.63 8.20 9.01

11.28 -0.66 9.82 6.09 11.24 7.97 11.59 11.94

5.80 -5.42 5.91 0.85 8.23 3.34 14.30 11.31

62

Kotak Bluechip Fund - Growth 14.08 12.34 12.10 15.12 8.51 8.39 19.76 17.21

12.13 12.56 NA NA NA NA 8.78 8.91

11.12 9.90 NA NA NA NA 1.61 6.11

8.01 8.14 8.44 7.74 7.59 6.81 8.04 7.23

6.33 6.04 5.57 3.74 5.92 1.36 5.98 -0.01

13.40 9.90 11.88 13.63 9.85 8.60 18.11 15.13

12.80 9.90 13.57 13.63 10.93 8.60 13.73 10.75

12.60 9.08 11.93 12.92 9.28 8.52 11.55 12.42

Kotak Infrastructure and Economic Reform Fund - Growth

Scheme Names

Kotak Gold ETF

Kotak Gold Fund - Growth

Kotak Bond Fund - Regular Plan - Growth


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Top 3

Bottom 3

Name: Mr. Abhishek BisenMr. Abhishek Bisen manages 9 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 Fund (Nov. 05, 2014), Kotak Debt Hybrid Fund (Dec. 02, �03), Kotak Bond Fund (Regular Plan) (Apr. 15, �08), Kotak Gilt Fund (Regular & PF-Trust) (Dec. 29, �98), Kotak Equity Savings Fund (Oct. 13, '14), Kotak Gold ETF (Jul. 27, �07), Kotak Gold Fund (Mar. 25, '11), Kotak Balanced Advantage Fund (Aug. 03' 18)Business ExperienceMr. 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).

24.60 25.54 7.97 9.00 6.51 7.59 11.38 12.53

24.17 25.54 8.47 9.00 6.22 7.59 5.40 6.99

14.08 12.54 8.68 12.27 7.72 8.63 8.20 9.01

11.73 12.15 6.34 7.75 7.90 8.91 7.75 8.38

11.28 12.74 4.28 6.18 7.26 8.40 8.82 NA

8.01 8.14 8.44 7.74 7.59 6.81 8.04 7.23

Kotak Equity Hybrid Fund - Growth

Kotak Debt Hybrid Fund - Growth


Kotak India Growth Fund Series 5 - Growth

Since Kotak Focused Equity fund and Kotak Pioneer Fund has not yet completed 1 year from Inception,the performance of the scheme is not disclosed.

Kotak Focused Equity fund andKotak Pioneer Fund

Name: Mr. Deepak AgrawalMr. Deepak Agrawal manages 12 funds & All FMPs of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.(Kotak Bond Short Term Fund (May. 02, �02), Kotak Dynamic Bond Fund (May. 26, �08), Kotak Money Market Fund (Nov. 25, �07), Kotak Liquid Fund (Nov. 04, �03), Kotak Banking and PSU Debt Fund (Dec. 29, �98), Kotak Savings Fund (Jul. 11, �07), Kotak Credit Risk Fund (May 11, '10), Kotak Medium Term Fund (Mar. 21, �14), Kotak Low Duration Fund (Jan. 31, �15), Kotak Corporate Bond Fund (Sep. 21, �07), Kotak Overnight Fund (Jan. 15, 19) All Fixed Maturity Plans in existence (Aug. 13,'15), Kotak Floating Fund (May. 14, 2019).Business ExperienceMr. 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.

Scheme Names

Kotak Bond Short Term Fund - Growth

Kotak Dynamic Bond Fund - Growth


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak Medium Term Fund - Regular Plan - Growth

Kotak Liquid Fund - Regular Plan - Growth

Kotak Savings Fund - Growth

Top 3

Bottom 3

Kotak Banking and PSU Debt Fund - Growth

Kotak Dynamic Bond Fund - Growth, *Name of the Benchmark - Nifty Composite Debt Index, Scheme Inception date is 26/05/2008. Mr. Deepak Agrawal has been managing the fund since 25/11/2012.Kotak Banking and PSU Debt Fund - Growth, *Name of the Benchmark - CRISIL Banking and PSU Debt Index, Scheme Inception date is 29/12/1998. Mr. Deepak Agrawal has been managing the fund since 01/08/2008.Kotak Bond Short Term Fund - 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 Savings Fund - Growth, *Name of the Benchmark - NIFTY Ultra Short Duration Debt Index, Scheme Inception date is 13/08/2004. Mr. Deepak Agrawal has been managing the fund since 01/04/2008.Kotak Medium Term Fund - Growth, *Name of the Benchmark - NIFTY Medium Duration Debt Index, Scheme Inception date is 21/03/2014. Mr. Deepak Agrawal has been managing the fund since 22/06/2015.Kotak Liquid Fund - Growth, *Name of the Benchmark - NIFTY Liquid Index, Scheme Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007.

55

Kotak Banking ETF, *Name of the Benchmark - Nifty Bank TRI, Scheme Inception date is 10/12/2014. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak Sensex ETF, *Name of the Benchmark - S&P BSE SENSEX TRI, Scheme Inception date is 06/06/2008. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak Nifty ETF, *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 02/02/2010. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak NV20 ETF - *Name of the Benchmark Nifty 50 Value 20 TRI, Scheme Inception date is 01/12/2015. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak India Growth Fund - Series 4 - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 14/02/2018. Mr. Devender Singhal has been managing the fund since 24/01/2019.Kotak PSU Bank ETF - *Name of the Benchmark Nifty PSU Bank TRI, Scheme Inception date is 08/11/2007. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.

Name: Mr. Devender SinghalMr. Devender Singhal manages 8 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.Kotak Debt Hybrid Fund - Growth (Dec. 02, �03), Kotak India Growth Fund Series-4 (Feb. 14, '18), Kotak NV20 ETF (Dec. 01, '15), Kotak Banking ETF (Dec. 10, '14), Kotak Sensex ETF (Jun. 06, '08), Kotak Asset Allocator Fund (Aug,. 09, '04), Kotak PSU Bank ETF (Nov. 08, 07)Business ExperienceMr. 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.

12.93 12.42 7.39 6.59 9.16 8.47 8.71 8.45

11.80 11.42 7.70 7.72 8.55 8.76 7.51 NA

10.44 10.10 6.89 7.52 7.89 8.12 7.75 7.93

8.23 8.15 7.31 7.58 7.79 7.91 7.79 8.19

8.10 11.70 6.17 7.08 8.03 8.46 8.63 9.00

6.68 6.67 6.87 6.78 7.35 7.23 7.40 7.41

Scheme Names

Kotak Banking ETF

Kotak Nifty ETF


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak India Growth Fund - Series 4 - Regular Plan - GrowthKotak PSU Bank ETF

Top 3

Bottom 3

Kotak Sensex ETF

19.26 19.45 20.10 20.31 NA NA 12.21 12.40

13.70 14.01 16.34 16.67 8.39 8.70 9.85 10.31

12.20 12.34 14.95 15.12 8.29 8.39 10.45 11.13

8.01 8.29 16.26 16.59 NA NA 14.33 13.15

6.75 9.90 NA NA NA NA -2.24 7.24

-9.18 -8.42 -6.01 -5.46 -8.89 -8.44 0.21 0.76

63

Kotak Gold ETF, *Name of the Benchmark - Price of Gold, Scheme Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak Gold Fund - Growth, *Name of the Benchmark - Price of Gold, Scheme Inception date is 25/03/2011. Mr. Abhishek Bisen has been managing the fund since 04/03/2011.Kotak Equity Hybrid Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 65:35 Index, Scheme Inception date 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.Kotak Debt Hybrid Fund - Growth, *Name of the Benchmark - CRISIL Hybrid 85+15 - Conservative Index, Scheme Inception date is 02/12/2003. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. Mr. Devender Singhal has been managing the fund since 25/08/2015.Kotak Bond Fund - Growth, *Name of the Benchmark - NIFTY Medium to Long Duration Debt Index, Scheme Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 01/04/2008.Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 Arbitrage + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since 09/05/2019. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019.

55

Kotak India Growth Fund - Series 7 - Growth, *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 31/08/2018. Ms. Shibani Kurian has been managing the fund since 09/05/2019.Kotak India EQ Contra Fund - Growth, *Name of the Benchmark - Nifty 100 TRI, Scheme Inception date is 27/07/2005. Ms. Shibani Kurian has been managing the fund since 09/05/2019.

Name: Ms. Shibani KurianMs. Shibhani Kurian 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 India EQ Contra Fund - Growth (July. 27, '05), Kotak India Growth Fund Series 7 (Aug. 31, 18), Kotak Focused Equity fund (Jul 16, '19).Business ExperienceMs. Shibani Sircar Kurian has a total experience of 19 years in the Indian equity markets of which almost more than 11 years have been with Kotak Mahindra Asset Management Company Limited. Her primary responsibilities include equity fund management and heading the equity research team.Prior to joining Kotak Mahindra Asset Management Company Limited, she worked for almost 6 years with UTI Asset Management Company Limited. and for 1 and half years with Dawnay Day AV Financial Services.She holds a PGDM (with a specialization in Finance) from T.A. Pai Management Institute, Manipal and a BSc (Hons) in Economics from St. Xavier�s College, Kolkata.

Scheme Names

Kotak India EQ Contra Fund - Growth


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak India Growth Fund Series 7 10.02 12.34 NA NA NA NA 6.58 3.83

9.65 11.29 14.52 14.45 9.02 8.78 12.58 13.81

Kotak NV 20 ETF

Since Kotak Focused Equity fund has not yet completed 1 year from Inception,the performance of the scheme is not disclosed.

Kotak Focused Equity fund

64

Kotak Equity Arbitrage Fund - Growth, *Name of the Benchmark - Nifty 50 Arbitrage Index, Scheme Inception date is 29/09/2005. Mr. Rukun Tarachandani has been managing the fund since 09/05/2019. Mr. Hiten Shah has been managing the fund since 03/10/2019.

Scheme Names



SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Name: Mr. Rukun TarachandaniMr.Rukun Tarachandani manages 1 funds Different plans shall have a different expense structure. The performance details provided herein are of regular plan.Kotak Equity Arbitrage Fund - Growth (Sep. 29, '05).Business ExperienceMr. Rukun Tarachandani has over 6 years of experience in Capital Markets, of which he has spent 4 years with Kotak Mahindra Asset Management Company Limited. Prior to his current role he was part of the PMS Fund Management team at Kotak Asset Management Company Limited, where his primary responsibility was Equity research and New idea generation across sectors and market capitalization. Prior to Kotak AMC, he has worked with Goldman Sachs Global Investment Research as an Equity Research Analyst.

6.12 6.51 6.16 5.20 6.57 6.05 7.40 NA

Name: Mr. Arjun KhannaMr. Arjun Khanna manages 4 funds Different plans shall have a different expense structure. The performance details provided herein are of regular plan.Kotak Asset Allocator Fund - Growth (Aug. 09, �04), Kotak US Equity Fund - Growth (Dec. 20, '13), Kotak World Gold Fund - Growth (Jun. 06, '08), Kotak Global Emerging Market Fund - Growth (Sep. 26, '07), Kotak Pioneer Fund (Oct 31, '19).Business ExperienceMr. Arjun Khanna has over 10 years of experience in banking and financial companies. Prior to joining Kotak Asset Management Company Limited, he worked in equity research in Principal PNB AMC. He has also worked at Citigroup NA in his earlier stint. He is a Bachelor of Engineering (Electronics) from Mumbai University and a post Graduate in Masters of Management Studies (Finance) from Jamnalal Bajaj Institute of Management Studies. He is a holder of the right to use the Chartered Financial Analyst® designation and is a Financial Risk Manager - Certified by the Global Association of Risk Professionals.

Scheme Names

Kotak US Equity Fund - Growth

Kotak World Gold Fund - Growth


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak Global Emerging Market Fund - Growth

Kotak Asset Allocator Fund - Growth

Kotak World Gold Fund - Growth, *Name of the Benchmark - Financial Times Gold Mines Total - Price, Scheme Inception date is 06/06/2008. Mr. Arjun Khanna has been managing the fund since 09/05/2019.Kotak US Equity Fund - Growth, *Name of the Benchmark - S&P 500 International Total Return Net Index, Scheme Inception date is 20/12/2013. Mr. Arjun Khanna has been managing the fund since 09/05/2019.Kotak Global Emerging Market Fund - Growth, *Name of the Benchmark - MSCI Emerging Market index, Scheme Inception date is 26/09/2007. Mr. Arjun Khanna has been managing the fund since 09/05/2019.Kotak Asset Allocator Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index, Scheme Inception date is 09/08/2004. Mr. Devender Singhal & Mr. Arjun Khanna has been managing the fund since 09/05/2019.

41.64 47.14 4.20 11.65 4.93 13.74 0.03 0.92

13.74 19.49 11.88 16.66 9.81 14.16 10.55 14.71

12.45 7.60 7.77 8.07 3.10 3.59 4.13 3.89

10.53 12.56 8.96 11.00 8.46 8.66 15.11 12.01

Name: Mr. Satish DondapatiMr. Satish Dondapati manages 6 funds Different plans shall have a different expense structure. The performance details provided herein are of regular plan.Kotak NV20 ETF (Dec. 1, '15), Kotak Banking ETF (Dec. 10, '14), Kotak Sensex ETF (Jun. 06, '08), Kotak Nifty ETF (Feb. 02, '10), Kotak PSU Bank ETF (Nov. 08, '07), Kotak Gold ETF (Jul. 27, '07).Business ExperienceMr. Satish Dondapati has been associated with the company since March 2008. He has over 15 years of experience in MF Product Development and Sales. Prior to joining Kotak Asset Management Company Limited, he was the part of MF Product Team of Centurion Bank Of Punjab.

Scheme Names

Kotak NV20 ETF

Kotak Gold ETF


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak PSU Bank ETF

Kotak Nifty ETF

Kotak Sensex ETF

Kotak Banking ETF

Kotak Gold ETF, *Name of the Benchmark - Price of Gold, Scheme Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak Banking ETF, *Name of the Benchmark - Nifty Bank TRI, Scheme Inception date is 10/12/2014. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak Sensex ETF, *Name of the Benchmark - S&P BSE SENSEX TRI, Scheme Inception date is 06/06/2008. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak Nifty ETF, *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 02/02/2010. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak NV20 ETF - *Name of the Benchmark Nifty 50 Value 20 TRI, Scheme Inception date is 01/12/2015. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.Kotak PSU Bank ETF, *Name of the Benchmark - Nifty PSU Bank TRI, Scheme Inception date is 08/11/2007. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.

24.60 25.54 7.97 9.00 6.51 7.59 11.38 12.53

19.26 19.45 20.10 20.31 NA NA 12.21 12.40

13.70 14.01 16.34 16.67 8.39 8.70 9.85 10.31

12.20 12.34 14.95 15.12 8.29 8.39 10.45 11.13

8.01 8.29 16.26 16.59 NA NA 14.33 13.15

-9.18 -8.42 -6.01 -5.46 -8.89 -8.44 0.21 0.76

Name: Mr. Hiten ShahMr. Hiten Shah manages 3 fund of Kotak Mahindra Mutual Fund Different plans shall have a different expense structure. The performance details provided herein are of regular plan.Kotak Balanced Advantage Fund (Aug. 03, �18), Kotak Equity Savings Fund (Oct. 13, �2014), Kotak Equity Arbitrage Fund (Sep. 29, �05)Business ExperienceMr. Hiten Shah, is a MMS in Finance with over 11 years of work experience. Prior to joining Kotak Mahindra Mutual fund, he was associated with Edelweiss Asset Management for more than 8 years as a Co-Fund manager and Chief dealer in equities segment. Mr Hiten Shah was also associated with Edelweiss securities Ltd. as low risk arbitrage trader for more than 3 years.

Scheme Names



SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^




Kotak Balanced Advantage Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index . Scheme Inception date is 03/08/2018. Mr. Abhishek Bisen & Mr. Harish Krishnan has been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019.Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 Arbitrage + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since 09/05/2019. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019. Kotak Equity Arbitrage Fund - Growth, *Name of the Benchmark - Nifty 50 Arbitrage Index, Scheme Inception date is 29/09/2005. Mr. Rukun Tarachandani has been managing the fund since 09/05/2019. Mr. Hiten Shah has been managing the fund since 03/10/2019.

12.13 12.56 NA NA NA NA 8.78 8.91

8.01 8.14 8.44 7.74 7.59 6.81 8.04 7.23

6.12 6.51 6.16 5.20 6.57 6.05 7.40 NA

Since Kotak Pioneer Fund fund has not yet completed 1 year from Inception,the performance of the scheme is not disclosed.Kotak Pioneer Fund fund

DIVIDEND HISTORY

Equity Schemes

Record Date Cum Dividend NAV `/UnitNov-25-19 10.7386 0.0413Oct-29-19 10.7421 0.0376Sep-23-19 10.7162 0.0311Aug-26-19 10.748 0.0601Jul-22-19 10.7326 0.0511Jun-24-19 10.7429 0.0551

Kotak Equity Arbitrage Fund - Monthly Dividend Option

65

Nov-18-19 23.0705 0.0303Nov-04-19 23.1021 0.0583Oct-22-19 23.0694 0.0293Oct-07-19 23.0959 0.0528Sep-23-19 23.0813 0.0398Sep-09-19 23.0687 0.0287

Kotak Equity Arbitrage Fund - Fortnightly Dividend Option

Record Date Cum Dividend NAV `/Unit

Kotak Equity Arbitrage Fund - Bimonthly Dividend

Nov-25-19 20.1331 0.1647Sep-23-19 20.1243 0.1643Jul-22-19 20.1521 0.1991May-27-19 20.2374 0.2404Mar-25-19 20.1088 0.1287Jan-28-19 20.1327 0.1653


Dec-27-18 32.943 0.8677Mar-23-18 35.3566 3.604Dec-28-17 39.2181 1.52Jun-28-17 39.0457 1.5Mar-23-17 35.3566 3.604Dec-30-16 33.0706 1.35

Kotak Bluechip Fund - Dividend



Jul-25-19 20.628 1.8797Mar-23-18 23.714 4.778Jul-28-17 23.4326 0.7Jul-15-16 19.6923 0.5Nov-20-15 18.54 0.5Jul-25-14 18.227 1


Nov-26-19 24.65 0.4498Aug-23-19 22.548 0.4011May-27-19 25.209 0.4249Feb-26-19 23.43 0.6259Nov-27-18 23.714 0.5489Sep-03-18 26.613 0.6994




Feb-20-19 33.152 0.8942Feb-28-18 45.3733 1.265Feb-27-17 36.4033 1.45Feb-23-16 26.77 1Feb-27-15 30.866 1Feb-28-14 17.731 1


Kotak Asset Allocator Fund

Aug-30-10 37.774 Individual/ HUF: 0.8784 Others: 0.8186


Kotak Emerging Equity Fund

May-24-19 23.623 1.6123Mar-23-18 26.1532 2.674May-26-17 26.01 1.59May-27-16 21.1956 1.3Apr-28-15 21.499 2.1May-02-14 13.0728 0.5




Sep-24-19 24.035 1.2024

Sep-24-18 23.504 1.3281Sep-27-17 23.5921 1.5Sep-30-16 21.3488 1.25Oct-12-15 19.739 1.00Sep-26-14 17.791 1.00


Kotak Equity Saving Fund - Monthly Dividend Option

Nov-13-19 11.5041 0.044Oct-14-19 11.3057 0.0452Sep-12-19 11.1487 0.0371Aug-13-19 11.1405 0.041Jul-12-19 11.3002 0.0425Jun-12-19 11.4253 0.0436


Kotak Equity Saving Fund - Quarterly Dividend

Sep-20-19 11.0934 0.1354Jun-20-19 11.2538 0.1576Mar-20-19 11.2372 0.1553Dec-20-18 11.1696 0.1341Sep-21-18 11.3014 0.1739Jun-20-18 11.2939 0.1584


Kotak Infrastructure and Economic Reform Fund

Feb-21-19 16.252 0.4356

Feb-28-18 20.5821 0.625

Feb-23-17 17.5644 0.5

Jun-23-15 15.2601 0.5


Hybrid Schemes

Sep-25-19 15.339 0.1301Jun-25-19 15.572 0.1398Mar-25-19 14.86 0.0858Feb-25-19 14.326 0.1053Jan-25-19 14.459 0.108Dec-26-18 14.7 0.108


Kotak Tax Saver Fund

Sep-26-19 18.653 0.3108Jun-26-19 19.498 0.3488Mar-28-19 19.033 0.3276Dec-24-18 18.125 0.3276Sep-26-18 18.808 0.3453Jun-28-18 18.444 0.3364


Kotak Bond Short Term Fund - Half Yearly Dividend

Mar-20-19 12.6446 Individual/ HUF: 0.0039 Others: 0.0036Sep-21-18 12.0475 Individual/ HUF: 0.0042 Others: 0.0039Mar-20-18 11.799 Individual/ HUF: 0.0101 Others: 0.0093


5456

66

Kotak PSU Bank ETF

Mar-10-17 334.3964 0.2Feb-21-13 358.8668 19.00

ETF Schemes


Kotak Nifty ETF

Mar-10-17 904.9522 10.00May-06-16 785.7880 11.00May-06-13 613.1266 11.00


Record Date Cum Dividend NAV `/UnitNov-13-19 11.843 Individual/ HUF: 0.062 Others: 0.0574Oct-14-19 11.7359 Individual/ HUF: 0.073 Others: 0.0676Sep-12-19 11.6579 Individual/ HUF: 0.0682 Others: 0.0632

Kotak Debt Hybrid Fund - Monthly Dividend

Kotak Debt Hybrid Fund - Quarterly Dividend

Sep-20-19 13.3629 Individual/ HUF: 0.197 Others: 0.1824Jun-20-19 13.477 Individual/ HUF: 0.1959 Others: 0.1814Mar-20-19 13.4095 Individual/ HUF: 0.1926 Others: 0.1783


Kotak Bond Fund Regular Plan - Annual Dividend

Mar-20-14 21.2977 Individual/ HUF: 0.2158 Others: 0.2067Mar-20-13 22.5941 Individual/ HUF: 1.4008 Others: 1.2006


Kotak Bond Short Term Fund - Monthly Dividend

Nov-13-19 10.1679 Individual/ HUF: 0.065 Others: 0.0602Oct-14-19 10.1318 Individual/ HUF: 0.039 Others: 0.0361Sep-12-19 10.1481 Individual/ HUF: 0.0507 Others: 0.047


5456

Kotak Bond Fund Regular Plan - Quarterly Dividend Option



Debt Schemes

5456

Kotak SENSEX ETF

Mar-11-17 297.6072 7.50Mar-10-17 297.6072 7.50Jun-18-13 201.3164 7.00


Kotak Credit Risk Fund - Annual Dividend

Mar-12-19 10.8959 Individual/ HUF: 0.4539 Others: 0.4203Mar-12-18 10.8586 Individual/ HUF: 0.458 Others: 0.4243Mar-15-17 11.2098 Individual/ HUF: 0.7411 Others: 0.6866


5456

Kotak Credit Risk Fund - Monthly Dividend


5456

Nov-13-19 10.4001 Individual/ HUF: 0.0741 Others: 0.0687

Oct-14-19 10.3614 Individual/ HUF: 0.0463 Others: 0.0428Sep-12-19 10.3839 Individual/ HUF: 0.0624 Others: 0.0578

Kotak Dynamic Bond Fund - Quarterly Dividend



5456

Kotak Savings Fund - Monthly Dividend



Kotak Dynamic Bond Fund - Monthly Dividend


Nov-13-19 21.9433 Individual/ HUF: 0.1245 Others: 0.1153

Oct-14-19 21.8801 Individual/ HUF: 0.079 Others: 0.0731Sep-12-19 21.8548 Individual/ HUF: 0.0607 Others: 0.0562

Kotak Credit Risk Fund - Quarterly Dividend



Kotak Medium Term Fund - Quarterly Dividend


Kotak Medium Term Fund - Annual Dividend

Mar-12-19 11.1171 Individual/ HUF: 0.4473 Others: 0.4142Mar-12-18 11.0849 Individual/ HUF: 0.4674 Others: 0.433Mar-15-17 11.2826 Individual/ HUF: 0.6428 Others: 0.5956


Kotak Low Duration Fund - Regular Plan Monthly Dividend


67

Kotak Gilt Fund PF and Trust Plan - Quarterly Dividend



Kotak Gilt Fund Regular Plan - Quarterly Dividend



Kotak Money Market Fund - Monthly Dividend



Kotak Banking and PSU Debt Fund - Monthly Dividend



Debt Schemes

Kotak Banking and PSU Debt Fund - Annual Dividend

Mar-15-17 16.8762 Individual/ HUF: 1.0169 Others: 0.9421 Mar-14-16 16.6687 Individual/ HUF: 0.884 Others: 0.819Mar-20-15 16.7914 Individual/ HUF: 0.9986 Others: 0.9261


Kotak Corporate Bond Fund - Regular Plan Monthly Dividend

Record Date Cum Dividend NAV `/UnitNov-13-19 1056.052 Individual/ HUF: 6.8613 Others: 6.3536Oct-14-19 1052.6997 Individual/ HUF: 4.4466 Others: 4.1175Sep-12-19 1054.8133 Individual/ HUF: 5.969 Others: 5.5274


Kotak Corporate Bond Fund - Regular Quarterly Dividend

Jun-20-17 1070.4266 Individual/ HUF: 15.966 Others: 14.7922Mar-20-17 1062.9423 Individual/ HUF: 11.1398 Others: 10.3208Dec-20-16 1070.3117 Individual/ HUF: 17.6919 Others: 16.3912



To know more kindly logon to- https://assetmanagement.kotak.com/dividend-history

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.

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.

RISK FACTORS

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] www.kotakamc.com.Corporate Office Website:

of Asset Management Company: 2nd Floor, 12-BKC, Plot No C-12, G Block, BKC, Bandra (East),Mumbai - 400 051

Contact DetailsAgra: 0562-4009647 / 9721333365

Ahmedabad: 079-26779888/ 26766077

Ajmer: 0145-2628881

Aligarh: 0571-6453223

Allahabad: 0532-2260072

Ambala: 0171-4003033

Amritsar: 0183-5018777

Anand: 02692-650281

Aurangabad: 0240-6611189 / 90

Bangalore: 080-61874600 / 01 / 02 / 03

Belgaum- 0831-4089172

Bareilly: 0581-2510521

Bhavnagar: 0278-2519544 / 3003130 / 9909973263

Bhilai: 0788-2225385

Bhopal: 0755-6461018

Bhubaneshwar: 8114392770

Bhuj: 02832-221572

Borivali: 8879234246/ 8879236194

Calicut: 495-2701031

Chandigarh: 0172-4671885/ 5049476

Chennai: 044-28221333 / 7823911500

Cochin: 0484-4851170/ 9745005122

Coimbatore: 422-6572165

Cuttack: 91-8114392771/ 9776000093

Dehradun: 135-2742900/ 6453000

Dhanbad: 9334235493

Durgapur: 0343-6456038/ 2544609

Goa: 0832-6650490

Gwalior: 0751-2347815

Gorakpur: 0551-2204127

Gurgaon: 0124-4165424/26

Guwahati: 0361-2734784

Hubli: 0836-6450140

Hyderabad: 040-23314052 / 53 / 29

Indore: 0731-6453390

Jabalpur: 9713508228

Jaipur: 0141-2373879

Jalandhar: 0181-2233481/ 9988883566

Jalgaon: 0257-2237131/ 32

Jammu: 0191-2470779

Jamnagar: 0288-2555589

Jamshedpur: 0657-2317041/6543474/ 9570000685

Jodhpur: 0291-2630625

Kanpur: 0512-6454641/ 2541017

Kolhapur: 9823705031

Kolkata: 033- 46021037 / 46037141 /4603740

Kottayam: 0481-2577077

Kota: 9983324038

Lucknow: 522-4021168/ 4021169

Ludhiana: 0161-4646602/ 4646604

Mangalore: 0824-6452006

Meerut: 0121-2658105

Mumbai: 022-66056825

Mumbai: (Thane): 022- 25348353 / 54

Muradabad: 0591-6456667

Mysore: 0821-6541192

Nagpur: 0712-2425052/8577

Nashik: 253-6574255

New Delhi: 011-41100860/65

Panipat: 0180-2632062

Patiala: 0175-5015268

Patna: 0612-6451120

Pondicherry: 9962029229

Pune: 020- 29528111

Raipur: 0771-4270917

Rajkot: 0281-6620735

Ranchi: 0651-6454629/ 2332274/

9709001533

Rourkela: 0661-6450114/ 9776640098

Rohtak- 0180-4022062

Saharanpur - 0132-2724757

Salem: 0427- 4960766 / 9843060099

Shimla: 0177-6451211/ 2807911

Silliguri: 0353-2522012

Surat: 0261-4896767/ 4896768

Trichur: 0471-4470134 / 9745002032 / 9072402033

Trichy: 91 - 0431-4972437

Trivandrum: 0471-4470134/ 9745002032

Udaipur: 0294-6451094 / 09918525666

Vadodara: 0265-2334012 / 2354012 / 9909906370

Vapi: 0260-2400587

Varanasi: 0542-2220727

Vijayawada: 0866-2484895 / 7799978587 /9966400068

Vishakapatnam: 0891-2552145 / 9885714419

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