Factsheet March 2020 PDF

March 31, 2020
Past performance of the Sponsor/AMC/Fund does not indicate the schemes future performance. Risk Factors on page 63.
Expert Speak March 31, 2020
Dear Friends,
Hope this letter finds you in good Health and Spirit.
Corona crisis has hit us all hard. Nobody could predict the scale of this crisis. This failure to foresee was due to mixed signals from global health agencies early
on.
As of now, there are three models to contain this problem. The Chinese model is of strict lockdown. The South Korean model is about largescale testing and
isolation. The Japanese model is about strict personal and social hygiene. Combination of these three models may help us contain our corona problem.
Going forward, we estimate that there may be a partial lockdown and partial mobility to tackle this issue.
Market reaction has been steep. Our Marketcap-to-GDP ratio has come down to almost 50%. This is almost close to the 2008 bottom (43% of marketcap-
GDP) level. Price-to-book ratio is now trading at around 1.9X (forward basis). This is well below the historical average of 2.6x. Today, almost 43% of top
1000 stocks are trading below 1x. Some of the bluest of bluechips are amongst this set.
Today, Nifty 50 is back at levels seen last in 2016. Similarly, Nifty Midcap 100 is down to 2014 levels. At that, the Nifty Smallcap 100 is at around 2011
levels. The issue we have at hand is medical. And it needs a medical solution. Market recovery may have to wait for this.
Currently, there are two broad medical approaches to find a solution to the Corona problem. One is vaccination and the other is treatment. Vaccination will
help in preventing Corona. And treatment will reduce the severity of the problem.
For treatment currently, a combination of anti-malarial, anti-viral and anti-HIV drugs are being used. Once their effectiveness is determined in multiple cases,
the situation may improve. The fear may then subside. This may thus allow the governments and business to resume normal operations again.
On the Vaccination front, various companies are working toward developing the formulas. But vaccine development takes time. Many research, technical
and regulatory standards have to be met for the likely vaccine to be commercialized. Thus, even on war-footing, the earliest vaccine may be at least 12-18
months away.
The economic cost of lockdown will be huge. Some demand is getting deferred, while some demand is getting destroyed. India's gdp growth is likely to
come down from 6% to 2.1%. Most of the developed economies may even see de-growth this year.
There are also some positive side-effects emerging from the current crisis as well. For one, the crude oil prices have fallen to US$ 21 p/b. Every dollar drop
gives us an advantage of US$ 1.5 bn. As per estimates, we are looking at a gain of US$ 40-45 bn to the economy due to this. Moreover, there has
been a massive stimulus provided by the RBI and the other global banks. This liquidity sooner or later is likely to cause asset price rise again.
Most importantly, the global supply chain may re-balance post the crisis. MNCs may look to diversify their suppliers to avoid supply shocks going ahead. As a
result, we may see significant industrial investments come to India in search of opportunities. If India helps settle companies moving out of China like
Tata-Motors was settled in Sanand with one SMS of 'Suswagatam'; than we may see substantial improvements in economic growth
prospects.
For now, the FPIs have pulled out US$ 16 bn from Indian equities and debt market in March month. But we believe that this is a temporary phase. Once
medical solution comes in, these investments will come back to India as well. After all, in the developed world, most of the yields are in the negative, or are
nearing the zero level. Thus, the search for better yields and returns may lead money back to India.
The market valuations have become very attractive at these levels. Some more correction, and we would be at 2008 valuation level.
In this context, we believe that it is time to be overweight on equities in a cautious manner. Once the medical situation improves, the markets may
begin to react positively. Market have had similar experience with Ebola and SARS (albeit on smaller scale) in the past. Then also, the markets had bounced
back sharply once the crisis was shrugged off.
Investors though can invest according to their risk appetite. Conservative investors may consider largecaps or large-midcap funds for investing. Investors
with moderate risk appetite may consider multicap funds. Risk-happy investors may consider mid and smallcap funds. The point is, investors may consider it
as an opportune time to upgrade their risk appetite just a bit.
Investor may invest half of their incremental investment in a staggered manner in a falling market when it is fear mode. The other half should
be invested when the market is in hope mode.
For the debt market investor, the yields are attractively positioned currently. RBI has been aggressive in supporting growth and reviving the capital markets.
Towards that purpose, they gave a liquidity infusion of around Rs 3.75 lakh cr and a 75 bps rate cut in their latest monetary policy (on 27th March 20). At
that, they have kept their stance accommodative and pro-growth. This provide attractive investment space for 6 month plus investors. Long term debt
investors can consider investing in credit / dynamic bond funds for their investing requirement.
In summary it is going to be a long haul to come out of the current situation. Economy and market will not bottom out till such time that a medical solution is
found to the current problem. This will allow lock downs to be lifted and economic activity to resume at full scale. Post medical solution, the recovery will be
dependent upon steps taken by the government and the RBI to support growth through fiscal and monetary measures.
Finally, in challenging times, the disciplined asset allocation and long term investment will be key to future prosperity.
Stay safe and stay healthy
Regards,
Nilesh Shah
Managing Director
In the preparation of the material contained in this document, Kotak Mahindra Asset Management Company Limited (KMAMC) has used information that is
publicly available, including information developed in-house. Some of the material used in the document may have been obtained from members/persons
other than the KMAMC and/or its affiliates and which may have been made available to KMAMC and/or its affiliates. Information gathered & material used
in this document is believed to be from reliable sources. KMAMC however does not warrant the accuracy, reasonableness and/or completeness of any
information.
Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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 Focused Equity Fund Focused Fund 8
Kotak Bluechip Fund Large Cap 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 Pioneer Fund Thematic 13
Kotak India Growth Fund Series 4 14
Kotak Infrastructure & Economic Reform Fund Sectoral/Thematic 16
Hybrid Funds
Kotak Equity Arbitrage Fund Arbitrage Fund 18
Kotak Balanced Advantage Fund Balanced Advantage 19
Kotak Equity Hybrid Fund Aggressive Hybrid Fund 20
Kotak Equity Savings Fund Equity Savings 21
Kotak Debt Hybrid Fund Conservative Hybrid Fund 22
Debt Funds
Kotak Overnight Fund Overnight Fund 23
Kotak Liquid Fund Liquid Fund 24
Kotak Money Market Fund Money Market Fund 25
Kotak Savings Fund Ultra Short Duration Fund 26
Kotak Low Duration Fund Low Duration Fund 27
Kotak Floating Rate Fund Floater Fund 29
Kotak Corporate Bond Fund Corporate Bond Fund 30
Kotak Banking & PSU Debt Fund Banking & PSU Fund 31
Kotak Bond Short Term Fund Short Duration Fund 32
Kotak Credit Risk Fund Credit Risk Fund 34
Kotak Medium Term Fund Medium Duration Fund 36
Kotak Dynamic Bond Fund Dynamic Bond 38
Kotak Bond Fund Medium to Long Duration Fund 39
Kotak Gilt Fund Gilt Fund 40
Exposure 41
Fund of Funds Scheme
Kotak Asset Allocator Fund FOF (Domestic) 43
Kotak Global Emerging Market Fund FOF (Overseas) 44
ETF Funds
Kotak Gold ETF ETF 45
Kotak Nifty ETF ETF 46
Kotak Sensex ETF ETF 47
Kotak Banking ETF ETF 48
Kotak PSU Bank ETF ETF 49
Scheme Performance 50
About Our Fund Managers 57
Dividend History 60
Risk Factors 63
Market Overview
Key Events for the Month of March 2020:
 MPC cut Repo Rate by 75bps to 4.4% and Reverse Repo rate by 90bps to 4%. To boost liquidity, CRR was cut by 100bps
potentially releasing Rs1.37trn into the system; Targeted LTRO of Rs1trn was announced and Limit under Marginal Standing Facility
was increased by 1% of SLR. MPC's decision to continue with accommodative stance & pledge to do whatever it takes to revive
growth and protect the economy was encouraging
 Government unveiled ~$22bn / INR 1.7trn (~0.75% of GDP) package to support weaker sections of the society that are most
affected by the lockdown. Stimulus was split between food (extra ration for next 3m at no additional cost) & Direct Benefit Transfers
 Ratings agency Moody's cut India's GDP forecast for Calendar Year 2020 to 2.5% from 5.3% earlier
 Owing to low crude prices, India's trade deficit narrowed to $9.85bn in February. Despite the Covid-19 outbreak crippling supply
chains, exports and imports both grew by ~2-3% YoY
 Jan IIP (Industrial Production) at +2% was encouraging but impact of Covid-19 will be visible only Feb-onwards.
 Headline Feb CPI inflation fell by 100bps to 6.58% YoY driven by decline in food prices. While reversal in vegetable prices was
expected, fall in food inflation was more broad-based during the month
 The Covid-19 contagion exploded globally in March as cases rose 9 fold to >800k led by US (>160k) and Europe. Global Markets
were roiled by the pandemic and Indian Markets were not immune from the tremors either (hit -10% lower circuit twice during the
month).
Market Valuation Indicators
Sensex In 'Fair Value' Range in P/BV Terms India s Market Cap to GDP%
NIFTY P/B (x) - 1 Year Forward Market cap-to-GDP ratio has fallen swiftly from 79% as
4.5 on FY19 to 54% (FY20E GDP) much below long-term
average of 75% and closer to levels last seen during FY09.
3.8
103 Average of 77% for
Average: 2.6x 95 the period
3.0 88
82 83 83
81 79 79
2.3 71
66 69
64
1.9 52 55 54
1.5
Mar-11
Mar-12
Mar-13
Mar-07
Mar-17
Mar-05
Mar-15
Mar-09
Mar-19
Mar-06
Mar-10
Mar-16
Mar-20
Mar-08
Mar-18
Mar-14
At 1.9x, the Nifty 12-month forward P/B is also well below the historical FY11
FY12
FY13
FY07
FY17
FY05
FY15
FY20E
FY09
FY19
FY06
FY10
FY16
FY08
FY18
FY14
average of 2.6x (assuming a 10% cut in our FY21 Nifty earnings estimates to
account for the disruption due to the global pandemic).
Source: Motilal Oswal Source: Motilal Oswal
12-month forward Sensex P/E (x)

Market Equity Allocaion 51000
Exit Stretched 20x 24x
Bubble
5% - 10%
47000
43000
Under Invest Fair Value Plus 17x 20x
Stretched
15%- 25% 39000
Fair Value Neutral - 35000
Plus 35% - 45%
Neutral
31000 Fair 13x 17x
Fair
50%
27000
Neutral +
Attractive 10x 13x
Attractive
65% - 75%
23000
Over Invest
19000
Cheap Cheap 8x 10x
80% - 90%
15000
Suggested equity allocation
11000
Mar-17
May-17
Jun-17
Jul-17
Aug-17
Sep-17
Oct-17
Nov-17
Dec-17
(Assuming 50% equity

Jan-19
Feb-19
Mar-19
Apr-19
May-19
Jun-19
Jul-19
Aug-19
Sep-19
Nov-19
Dec-19
Jan-20
Feb-20
Mar-20
Jan-18
Feb-18
Mar-18
Apr-18
May-18
Jun-18
Jul-18
Aug-18
Oct-18
Nov-18
Dec-18
allocation as neutral)
Source: Axis Capital , Internal Estimates
Strategy for Investments in the Current Scenario
STP/Short Term
STP/Long Term
1
Equity Market Snapshot
Unprecedented Times Markets Across The Globe Enter Panic Mode Due To COVID-19
2008 Financial Crisis 2020 Medical Crisis
105
100
100
90
95
90.2
80
90
62
70
85
60 76.8
60 80 75.2
50 75
42
40 70
30 33 65
71.4
20 60
31-Dec-19
05-Jan-20
10-Jan-20
15-Jan-20
20-Jan-20
25-Jan-20
30-Jan-20
04-Feb-20
09-Feb-20
14-Feb-20
19-Feb-20
24-Feb-20
29-Feb-20
05-Mar-20
10-Mar-20
15-Mar-20
20-Mar-20
25-Mar-20
30-Mar-20
1-Jan-08
26-Jan-08
20-Feb-08
16-Mar-08
10-Apr-08
5-May-08
30-May-08
24-Jun-08
19-Jul-08
13-Aug-08
7-Sep-08
2-Oct-08
27-Oct-08
Sensex Dow jones FTSE 100 Shanghai Sensex Dow jones FTSE 100 Shanghai
Source: Bloomberg , Internal Calculations
Attractive Valuations P/B
% of Top 1000 stocks by market cap trading below 1x P/B

80%
74%
70%
60%
50% 41% 43%

49%
40%
30%
20%
10%
0%
Mar 00 Mar 02 Mar 04 Mar 06 Mar 08 Mar 10 Mar 12 Mar 14 Mar 16 Mar 18 Mar 20
Source: Bloomberg, Internal Calculations
Key Variables & their Impact On Equities

Key Variables Short - term Medium - term Remarks
Economy Near-term growth to get impacted due to Coronavirus scare, but many reforms
like IBC, GST, RERA to improve longer term growth trajectory
Near-term earning growth to get impacted. Strong medium term earning growth
Corporate Earnings trajectory, as previous cycle of NPA ends and capacity utilization improves. Will
also be aided by recent tax cuts
Flows to turn negative in short term. Strong long term growth as India stands out
FII Flow
among global asset classes with prospects of long term growth given favorable
demographics
DII Flow Long runaway of growth in financialization of savings
Supply of paper Near term supply will be impacted. Higher disinvestment target and repair of
leveraged balance sheet to create supply in markets.
Policy/Reform Initiative Expect improved policy measures reform momentum
Signifies growth
2
Debt Market Snapshot
Items Mar-20 Feb-20 1 Month Change Mar-19 1 yr Change

Reverse repo 4.00% 4.90% -90 bps 6.00% -200 bps
Repo 4.40% 5.15% -75 bps 6.25% -185 bps
CRR 3.00% 4.00% -100 bps 4.00% -100 bps
SLR 18.25% 18.25% NIL 19.50% -125 bps
Mibor 4.81% 5.09% -28 bps 8.80% -399 bps
Call ON 4.80% 4.50% 30 bps 6.10% -130 bps
CBLO 0.01% 3.50% -349 bps 4.95% -494 bps
1 yr TBILL 4.49% 5.13% -64 bps 6.31% -182 bps
10 Gsec 6.14% 6.37% -23 bps 7.35% -121 bps
5 Year AAA 7.02% 6.80% 22 bps 8.10% -108 bps
USD/INR `75.39 `72.19 -3.2 rupees `69.17 -6.22 rupees
Source: RBI; Bloomberg.
RBI Measures Lead To A Fall in 10 Year Gilt

10 Year Gilt (%)
Removal of FPI
6.45
RBI announced OMO Hope on more investment limit in
6.40 US Treasury yield and crude oil prices worthRs. 300bn certain securities
Fed slashed rate action from RBI
6.35 plummeted due to the ongoing
by 100bps
6.35 concerns over the economic fallout
because of coronavirus and Saudi Anticipation of front
-
6.30 Arabialed oil price war loaded borrowing
calendar in H1FY21
6.25
6.20
Rupee falls past
Rupee hit record
6.15 76/$
low and high FPI
Outflow
6.10 US Yields
6.14
slumped post
6.05 Fed Rate Cut Depreciating Rupee and RBI did a rate cut of 75bps and announced
High FPI Outflow special liquidity and regulatory measures
6.00
2-Mar-20
3-Mar-20
4-Mar-20
5-Mar-20
6-Mar-20
7-Mar-20
8-Mar-20
9-Mar-20
10-Mar-20
11-Mar-20
12-Mar-20
13-Mar-20
14-Mar-20
15-Mar-20
16-Mar-20
17-Mar-20
18-Mar-20
19-Mar-20
20-Mar-20
21-Mar-20
22-Mar-20
23-Mar-20
24-Mar-20
25-Mar-20
26-Mar-20
27-Mar-20
28-Mar-20
29-Mar-20
30-Mar-20
31-Mar-20
Source: Bloomberg; Data as on 31 Mar 2020
RBI Measures Seeks To Ease The Corporate Bond Spread Compression In The Near-Term
• The RBI announced TLTRO worth Rs. 1lac cr since this is direct measure it will help pull down and anchor the short term rates much closer to overnight rates as
Rs. 1 Lac cr of fresh money will lead to at least Rs. 2-3 lac cr worth of demand for assets leading to spread compression.
In Bps Spread Between 5 - year Rated Corporate Bonds And 5 Year Gilt
500 AAA AA A BBB

450 434
400
350
300 287
250
200
150 140
100
50
84
0
Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
Source: Bloomberg. Morgan Stanley. Data as on 31 Mar 2020
Key Variables & their Impact On Interest Rates
Short - term Medium term
Key Variables (3-6 months) (6months 2 years) Remarks
In the month of March we saw headline CPI Fell to 6.6%~ all over. In general prices have been falling
Inflation and CPI is likely to be in in falling trend for the remaining year.
Near term INR likely to be under pressure due to global pressures as EM witnesses outflows. RBI has
taken some measures to contain any sharp move and has been successful so far. Relatively INR has
Rupee done well so far.
Credit growth has slowed down significantly and Covid 19- lock down all over has added to it a lot.
Globally situation is similar and this may accentuate the situation further however easy rates may
Credit Demand help some demand pickup post the lock down is lifted till then credit growth will not impact rates
negatively.
Government Borrowing RBI announcement of LTRO , repo rate cut, CRR cut and other measures will largely help contain
short end of the curve upto 3 yr. For long end, H1 Borrowing is relatively heavy and low volumes in
the market due to shut down may lead to spike in yields above 5 years curve. However measures
taken so far for index inclusion, easy liquidity and global easing will help India manage the borrowing
RBI Policy programme but volatility will increase.
RBI came later but stronger than expectations, we may not get more cuts immediately but measures
such as OMO and operation twist will continue and stance is expected to remain soft for the
Global Event Risk remaining part of the year.
The global lockdown and most aggressive action in terms of cut in rates and other measures to
Corporate bond Spread contain rates lower will help India too.
The RBI announced TLTRO worth 1lac cr since this is direct measure it will help pull down and anchor
the short term rates much closer to overnight rates as 1 Lac cr of fresh money will lead to at least 2-3
Debt FII flow lac cr worth of demand for assets leading to spread compression.
FPI so far have been a seller in Sov bonds. If we are able to become a part of the index then we can
expect the flows back in india till then FPI support is uncertain.
Liquidity With Cut in CRR, LTRO and TLTRO Liquidity has been flushed in the banking system is expected to
remain in SUPER surplus zone. It is therefore likely to have a positive impact on Interest rates
Denotes fall in interest rates

4
3
How to read Fact Sheet
Fund Manager
An employee of the asset management company such as mutual fund or life insurer, who manages investments of the scheme. He is usually part of larger team of fund
managers and research analysts.
Application amount for fresh subscription

This is the minimum investment amount for a new investor in a mutual fund scheme
Minimum Additional Amount

This is the minimum investment amount for an existing investor in a mutual fund scheme
Yield to Maturity
The yield to maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond s current
market price, par value, couple interest rate and time to maturity
SIP
SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor
may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years.
NAV
The NAV or net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every
business day. It is the value at which investors enter or exit the mutual fund
Benchmark
A group of securities , usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other
investments. Some typical benchmark include the Nifty, Sensex, BSE 200, BSE 500, 10-year Gsec
Entry Load
A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor /agent. Entry load is charged at the time an investor purchases
the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs 100 and the entry load is 1%, the investor will
enter the fund at Rs 101.
Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the
distributor, based on his assessment of various factors including the service rendered by the distributor.
Exit load
Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if
the NAV is RS 100and an exit load is 1%, the redemption price would be Rs. 99 per unit
Modified Duration
Modified duration is the price sensitivity and the percentage change in price for a unit change in yield.
Standard deviation
Standard deviation is statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, it means its range of performance
is wide, implying greater volatility.
Sharp Ratio
The Sharpe Ratio, named after its founder the Noble laureate William Sharpe, is measure of risk-adjusted returns. It is calculated using standard deviation and excess return to
determine reward per unit of risk.
Beta
Beta is a measure of an investment s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1
implies that the security s price will be more volatile than the market.
AUM
AUM or assets under management refers to the recent / updated cumulative market value of investments managed by Mutual fund or any investment firm.
Holdings
The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net
assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager.
Nature of Scheme
The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital
appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt
fund or income fund. Each of these categories may have sub-categories.
Rating Profile
Mutual funds invest in securities after evaluating their credit worthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their
rating becomes the rating profile of the fund. Typically, this is a feature of debt funds.
4
Investment style
Value Blend Growth Size
KOTAK STANDARD MULTICAP FUND Large
Medium
Multi cap fund - An open-ended equity scheme investing across large cap, mid cap, small cap stocks Small
Fund Manager: Mr. Harsha PORTFOLIO

Upadhyaya* Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AAUM: `25,379.53 crs Assets Assets
AUM: `22,862.86 crs Equity & Equity related Balkrishna Industries Ltd Auto Ancillaries 0.74
Benchmark: Nifty 200 TRI Reliance Industries Ltd. Petroleum Products 6.58 Bajaj Finserv Ltd. Finance 0.70
ICICI Bank Ltd. Banks 6.16 Kec International Ltd. Construction Project 0.67
Allotment date: September 11, 2009 HDFC Bank Ltd. Banks 5.37 AIA Engineering Limited Industrial Products 0.63
Folio count: 14,48,571 Ultratech Cement Ltd. Cement 4.19 Mahindra & Mahindra Ltd. Auto 0.60
Larsen And Toubro Ltd. Construction Project 4.03 RBL Bank Ltd Banks 0.59
Investment Objective Infosys Ltd. Software 3.85 Max Financial Services Ltd. Finance 0.52
The investment objective of the scheme is Tata Consultancy SBI Cards & Payment
to generate long-term capital appreciation Services Ltd. Software 3.51 Services Pvt. Ltd. Finance 0.52
from a portfolio of equity and equity related Axis Bank Ltd Banks 3.38 Solar Industries India Limited Chemicals 0.43
securities, generally focused on a few Hindustan Unilever Ltd. Consumer Non Durables 3.37 Bayer Cropscience Ltd. Pesticides 0.39
selected sectors. However, there is no Petronet LNG Ltd. Gas 2.65 Page Industries Ltd Textile Products 0.38
assurance that the objective of the scheme Indraprastha Gas Ltd. Gas 2.58 IndusInd Bank Ltd. Banks 0.25
will be realized. Kotak Mahindra Bank Ltd. Banks 2.35 Whirlpool of India Ltd. Consumer Durables 0.22
SRF Ltd. Industrial Products 2.31 Century Textiles &
Available Plans/Options Shree Cement Ltd. Cement 2.23 Industries Ltd. Paper 0.21
A) Regular Plan B) Direct Plan ICICI Lombard General BEML Ltd Industrial Capital Goods 0.19
Insurance Company Ltd Finance 2.03 Techno Electric & Engineering
Options: Dividend Payout, Dividend The Ramco Cements Ltd Cement 1.84 Company Limited Construction Project 0.19
Reinvestment & Growth (applicable for all Bharat Electronics Ltd Industrial Capital Goods 1.73 Arvind Fashion Ltd. Retailing 0.06
plans) Inter Globe Aviation Ltd Transportation 1.73 Arvind Ltd Textile Products 0.02
Dividend Frequency State Bank Of India Banks 1.72 Equity & Equity
Trustee s Discretion Jubilant Foodworks Limited Consumer Non Durables 1.65 Related - Total 90.37
AU Small Finance Bank Ltd. Banks 1.59 Futures
Ratios Britannia Industries Ltd. Consumer Non Durables 1.41 CNX NIFTY-APR2020 2.39
Cadila Healthcare Ltd. Pharmaceuticals 1.40 Jubilant Foodworks Limited-
Portfolio Turnover 16.36% Container Corporation APR2020 0.15
$
of India Ltd. Transportation 1.32 HDFC Bank Ltd.-APR2020 0.14
Beta 0.99 Bharat Petroleum Inter Globe Aviation Ltd-
$
Corporation Ltd. Petroleum Products 1.22 APR2020 0.04
Sharpe## -0.26 MRF Limited Auto Ancillaries 1.22 Page Industries Ltd-
Godrej Consumer APR2020 0.01
$
Standard Deviation 19.10% Products Ltd. Consumer Non Durables 1.18 Debt Instruments
United Breweries Ltd. Consumer Non Durables 1.07 Debentures and Bonds
Source: $ICRA MFI Explorer. HDFC Standard Life Corporate Debt/
Minimum Investment Amount Insurance Company Ltd. Finance 1.02 Financial Institutions
Initial Investment: `5000 and in multiple of Thermax Ltd. Industrial Capital Goods 1.02 Britannia Industries Ltd. ( ) CRISIL AAA 0.02
Bata India Ltd. Consumer Durables 1.01 Corporate Debt/Financial
`1 for purchase and of `0.01 for switches Hero MotoCorp Ltd. Auto 1.01
Additional Investment: `1000 & in Institutions - Total 0.02
HDFC Ltd. Finance 1.00 TERM DEPOSITS
multiples of `1 SBI Life Insurance HDFC Bank Ltd. 1.53
Ideal Investments Horizon: 3 years & above Company Ltd Finance 0.97 Term Deposits - Total 1.53
Bajaj Finance Limited Finance 0.96 Triparty Repo 8.00
Load Structure
GAIL (India) Ltd. Gas 0.84 Net Current Assets/
Entry Load: Nil. (applicable for all plans) Jindal Steel & Power Ltd. Ferrous Metals 0.79
Exit Load: (Liabilities) 0.08
Lupin Ltd. Pharmaceuticals 0.77 Grand Total 100.00
a) For redemptions / switch outs (including
SIP/STP) within 1 year from the date of Term Deposit as provided above is towards margin for derivatives transactions
allotment of units:1% Equity Derivative Exposuer is 2.73%
b) For redemptions / switch outs (including
SIP/STP) after 1 year from the date of SECTOR ALLOCATION (%)
allotment of units: NIL
Total Expense Ratio** 13.87 8.47 6.84 3.58 3.09
Regular: 1.52%; Direct: 0.72% 29.30 10.07 7.37 4.88 3.56
Scheme
2.39 2.73 0.70
33.98 13.28 16.68 12.51 4.97 0.97
Benchmark
Data as on March 31, 2020 Financial Services Energy Consumer Goods Cement & Cement Products Information Technology
Cash & Cash Equivalent Construction Automobile Industrial Manufacturing Services
Product Label
Riskometer
Moderate Mo
SYSTEMATIC INVESTMENT PLAN (SIP)
t el y d
era Higerat
odLow h e Systematic Investment Plan (SIP) If you had invested `10,000 every month
M
ly
Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
Low
High
Total amount invested (`) 12,70,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
Total Value as on Mar 31, 2020 (`) 20,07,532 18,22,286 9,78,854 5,62,090 2,90,459 90,427
LOW HIGH
Investors understand that their principal will be at moderately high risk Scheme Returns (%) 8.36 8.10 4.31 -2.56 -13.46 -42.26
This product is suitable for investors who are seeking*: Nifty 200 (TRI) Returns (%) 4.93 4.66 1.34 -3.91 -14.70 -43.76
Long term capital growth
Investment Portfolio of predominantly equity & equity Alpha 3.43 3.44 2.97 1.34 1.23 1.50
related securities generally focused on a few selected
sectors across market capitalisation. Nifty 200 (TRI) (`)# 16,59,171 15,23,089 8,80,790 5,43,176 2,84,571 89,264
* Investors should consult their financial advisors if in
doubt about whether the product is suitable for them. Nifty 50 (TRI) (`)^ 16,59,078 15,21,259 8,87,420 5,58,344 2,93,455 89,524
Nifty 50 (TRI) Returns (%) 4.93 4.64 1.55 -2.83 -12.84 -43.43
Scheme Inception : - September 11, 2009. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and
final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. #
Benchmark ; ^ Additional Benchmark
TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).
Alpha is difference of scheme return with benchmark return.
Kotak Standard Multicap Fund NAV as on March 31, 2020: `17.008 (Dividend Option), `18.465 (Direct Dividend Option), `27.01 (Growth Option), `28.994 (Direct Growth Option)
*For Fund Manager experience, please refer page 57-59. ## Risk rate assumed to be 4.81% (FBIL Overnight MIBOR rate as on 31st March 2020).**Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 60-62. For scheme performance, please refer page no 50-56.
5
Investment style
KOTAK EMERGING EQUITY FUND Large
Medium
Mid cap fund - An open-ended equity scheme predominantly investing in mid cap stocks Small
Fund Manager: Mr. Pankaj Tibrewal* PORTFOLIO

AAUM: `5,945.82 crs Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `5,122.07 crs Assets Assets
Benchmark: Nifty Midcap 100 TRI Equity & Equity related Persistent Systems Limited Software 1.08
Allotment date: March 30, 2007 Coromandel International Ltd. Fertilisers 5.02 Eris Lifesciences Ltd Pharmaceuticals 1.01
Supreme Industries Limited Industrial Products 4.64 SKF India Ltd Industrial Products 0.95
Folio count: 3,91,032 P I Industries Ltd Pesticides 3.64 Alkem Laboratories Ltd Pharmaceuticals 0.93
Schaeffler India Ltd Industrial Products 3.63 Federal Bank Ltd. Banks 0.93
Investment Objective The Ramco Cements Ltd Cement 3.58 Shriram City Union
The investment objective of the scheme is Thermax Ltd. Industrial Capital Goods 3.13 Finance Ltd. Finance 0.93
to generate long-term capital appreciation Sheela Foam Ltd Consumer Durables 2.91 Jindal Steel & Power Ltd. Ferrous Metals 0.92
from a portfolio of equity and equity related Cadila Healthcare Ltd. Pharmaceuticals 2.73 RBL Bank Ltd Banks 0.90
securities, by investing predominantly in Atul Ltd. Chemicals 2.67 Motherson Sumi
mid companies. The scheme may also invest Tata Consumer Products Ltd Consumer Non Durables 2.55 Systems Ltd. Auto Ancillaries 0.88
in debt and money market instruments, as Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.27 Bata India Ltd. Consumer Durables 0.86
per the asset allocation table. There is no Solar Industries India Limited Chemicals 2.24 Finolex Cables Ltd. Industrial Products 0.83
assurance that the investment objective of Shree Cement Ltd. Cement 2.23 MRF Limited Auto Ancillaries 0.80
the scheme will be achieved. AU Small Finance Bank Ltd. Banks 2.11 City Union Bank Ltd. Banks 0.78
Kajaria Ceramics Ltd. Construction 2.07 Laurus Labs Ltd Pharmaceuticals 0.62
Available Plans/Options Gujarat State Petronet Ltd. Gas 0.59
SRF Ltd. Industrial Products 1.97
A) Regular Plan B) Direct Plan Page Industries Ltd Textile Products 1.87 Kalpataru Power
Options: Dividend Payout, Dividend Exide Industries Ltd Auto Ancillaries 1.84 Transmission Ltd. Power 0.58
Reinvestment & Growth (applicable for all Bharat Electronics Ltd Industrial Capital Goods 1.68 Emami Ltd. Consumer Non Durables 0.56
plans) Max Financial Services Ltd. Finance 1.68 IndusInd Bank Ltd. Banks 0.56
Cummins India Ltd. Industrial Products 1.55 Cholamandalam Financial
Dividend Frequency Ratnamani Metals & Holdings Limited Finance 0.54
Trustee s Discretion Tubes Ltd. Ferrous Metals 1.53 Kewal Kiran Clothing Limited. Textile Products 0.44
Ratios Indraprastha Gas Ltd. Gas 1.49 BEML Ltd Industrial Capital Goods 0.43
Apollo Hospitals Navneet Education Ltd. Media and Entertainment 0.38
Portfolio Turnover 13.24% Enterprises Ltd. Healthcare Services 1.47 PNC Infratech Ltd Construction 0.37
Mahindra & Mahindra SBI Cards & Payment
$
Beta 0.86 Financial Services Ltd. Finance 1.47 Services Pvt. Ltd. Finance 0.29
Sundaram Finance Ltd. Finance 1.47 Kirloskar Oil Engines Ltd. Industrial Products 0.21
$
Sharpe## -0.36 Hindustan Petroleum Future Retail Ltd. Retailing 0.20
Corporation Ltd Petroleum Products 1.46 JK Cement Ltd. Cement 0.15
$
Standard Deviation 22.12% APL Apollo Tubes Limited Ferrous Metals 1.38 Ramkrishna Forgings Ltd. Industrial Products 0.12
Larsen And Toubro Ltd. Construction Project 1.37 WPIL Ltd Industrial Products 0.04
Source: $ICRA MFI Explorer. Oberoi Realty Ltd Construction 1.35 Equity & Equity
Voltas Ltd. Consumer Durables 1.29 Related - Total 97.50
Minimum Investment Amount Lux Industries Limited Textile Products 1.27 TERM DEPOSITS
Initial Investment: `5000 and in multiple of Axis Bank Ltd Banks 1.25 HDFC Bank Ltd. 0.20
`1 for purchase and for `0.01 for switches Hawkins Cooker Ltd Household Appliances 1.19 Term Deposits - Total 0.20
Additional Investment: `1000 & in State Bank Of India Banks 1.15 Triparty Repo 2.46
multiples of `1 V-Guard Industries Ltd. Consumer Durables 1.15 Net Current Assets/
Ideal Investments Horizon: 3 years & above Amara Raja Batteries Ltd. Auto Ancillaries 1.12 (Liabilities) -0.16
Balkrishna Industries Ltd Auto Ancillaries 1.12 Grand Total 100.00
Load Structure Godrej Agrovet Ltd Consumer Non Durables 1.08
Entry Load: Nil. (applicable for all plans)
Exit Load: Term Deposit as provided above is towards margin for derivatives transactions
a) For redemptions / switch outs (including Equity Derivative Exposuer is 0.55%
SIP/STP) within 1 year from the date of Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 11.17%, 71.65% & 14.68%.
allotment of units:1%.
b) For redemption/switch outs (including SECTOR ALLOCATION (%)
SIP/STP) after 1 year from the date of
allotment of units: Nil.
Total Expense Ratio** 17.21 14.05 10.60 8.67 7.56 5.96 5.76 5.56 5.17 4.91
Regular: 2.15%; Direct: 0.63% Scheme
4.79 20.81 18.29 2.93 10.73 2.38 9.37 1.63 3.77

Benchmark
Industrial Manufacturing Financial Services Consumer Goods Fertilisers & Pesticides Pharma
Data as on March 31, 2020
Cement & Cement Products Automobile Textiles Construction Chemicals
Product Label
Riskometer
Systematic Investment Plan (SIP) If you had invested `10,000 every month
Moderate Mo
t el y d
era Higerat Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
odLow h e
M
ly
Low
High
Scheme Returns (%) 10.11 9.24 5.29 -4.54 -16.04 -41.26

LOW HIGH
Nifty Midcap 100 (TRI) Returns (%) 5.73 2.89 -1.76 -11.05 -24.95 -51.01
Investors understand that their principal will be at moderately high risk
This product is suitable for investors who are seeking*: Alpha 4.39 6.35 7.06 6.51 8.91 9.76
Investment in equity & equity related securities Nifty Midcap 100 (TRI) (`)# 23,16,012 13,90,100 7,89,281 4,52,059 2,38,687 83,486
predominantly in mid cap companies.
* Investors should consult their financial advisors if in Nifty 50 (TRI) (`)^ 23,92,820 15,21,259 8,87,420 5,58,344 2,93,455 89,524
doubt about whether the product is suitable for them.
Scheme Inception : - March 30, 2007. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and
final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of
inception. # Benchmark ; ^ Additional Benchmark
Kotak Emerging Equity Fund NAV as on March 31, 2020: `16.728 (Dividend Option), `19.733 (Direct Dividend Option), `29.537 (Growth Option), `32.117 (Direct Growth Option)
7
6
Investment style
KOTAK EQUITY OPPORTUNITIES FUND Large
Medium
Large & mid cap fund - An open-ended equity scheme investing in both large cap and mid cap stocks Small

Upadhyaya*
Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `2,576.20 crs
Equity & Equity related JK Cement Ltd. Cement 1.00
Benchmark: Nifty 200 TRI ICICI Bank Ltd. Banks 5.15 Linde India Ltd. Chemicals 0.99
Allotment date: September 9, 2004 Reliance Industries Ltd. Petroleum Products 4.97 Supreme Industries Limited Industrial Products 0.93
HDFC Bank Ltd. Banks 4.63 Blue Star Ltd. Consumer Durables 0.83
Folio count: 1,64,394
Coromandel Cholamandalam Financial
International Ltd. Fertilisers 3.87 Holdings Limited Finance 0.71
Investment Objective Infosys Ltd. Software 3.74 State Bank Of India Banks 0.71
The investment objective of the scheme is Hindustan Unilever Ltd. Consumer Non Durables 3.57 GAIL (India) Ltd. Gas 0.70
to generate capital appreciation from a SRF Ltd. Industrial Products 3.35 Kalpataru Power
diversified portfolio of equity and equity Indraprastha Gas Ltd. Gas 3.01 Transmission Ltd. Power 0.64
related securities. The scheme will invest Tata Consultancy Dalmia Bharat Limited Cement 0.50
predominantly in a mix of large and mid cap Services Ltd. Software 3.01 BEML Ltd Industrial Capital Goods 0.48
stocks from various sectors, which look Larsen And Toubro Ltd. Construction Project 2.98 Techno Electric & Engineering
promising, based on the growth pattern in Company Limited Construction Project 0.41
Gujarat State Petronet Ltd. Gas 2.81
the economy. There is no assurance that the Century Textiles &
Dr Reddys Laboratories Ltd Pharmaceuticals 2.73
investment objective of the scheme will be Industries Ltd. Paper 0.37
ICICI Lombard General
achieved.
Insurance Company Ltd Finance 2.52 Heritage Foods Ltd Consumer Non Durables 0.28
Available Plans/Options AIA Engineering Limited Industrial Products 2.38 Healthcare Global
A) Regular Plan B) Direct Plan Petronet LNG Ltd. Gas 2.34 Enterprises Ltd Healthcare Services 0.26
Axis Bank Ltd Banks 2.29 ABB Power Products and
Options: Dividend Payout, Dividend
Shree Cement Ltd. Cement 2.15 System India Limited Industrial Capital Goods 0.12
Reinvestment & Growth (applicable for all
DR.Lal Pathlabs Ltd Healthcare Services 2.04 Arvind Fashion Ltd. Retailing 0.07
plans)
Bata India Ltd. Consumer Durables 2.03 Equity & Equity
Dividend Frequency Thermax Ltd. Industrial Capital Goods 2.01 Related - Total 92.21
Trustee s Discretion Max Financial Services Ltd. Finance 1.94 Preference Shares
Ratios Page Industries Ltd Textile Products 1.90 6% Redm Preference Sh Zee
The Ramco Cements Ltd Cement 1.89 Entertainment Enterprises Ltd. Media and Entertainment 0.01
Portfolio Turnover 35.48% Jindal Steel & Power Ltd. Ferrous Metals 1.60 Preference Share - Total 0.01
Jubilant Foodworks Limited Consumer Non Durables 1.57 Futures
$
Beta 0.97 Ultratech Cement Ltd. Cement 1.57 HDFC Bank Ltd.-APR2020 0.39
AU Small Finance Bank Ltd. Banks 1.47 Cummins India Ltd.-APR2020 0.09
$
Sharpe ## -0.27 Schaeffler India Ltd Industrial Products 1.44 Page Industries Ltd-APR2020 0.07
ABB Ltd. Industrial Capital Goods 1.37 TERM DEPOSITS
$
Standard Deviation 18.92% Bharat Electronics Ltd Industrial Capital Goods 1.36 HDFC Bank Ltd. 2.17
Balkrishna Industries Ltd Auto Ancillaries 1.23 Term Deposits - Total 2.17
Source: $ICRA MFI Explorer. Godrej Agrovet Ltd Consumer Non Durables 1.14 Triparty Repo 5.47
Minimum Investment Amount Cummins India Ltd. Industrial Products 1.07 Net Current Assets/
Initial Investment: `5000 and in multiple of United Breweries Ltd. Consumer Non Durables 1.07 (Liabilities) 0.14
`1 for purchase and for `0.01 for switches Kotak Mahindra Bank Ltd. Banks 1.01 Grand Total 100.00
Additional Investment: `1000 & in
multiples of `1 Term Deposit as provided above is towards margin for derivatives transactions.
Ideal Investments Horizon: 3 years & above Equity Derivative Exposuer is 0.55%
Note: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 46.9%, 41.41% & 4.45%.
Load Structure
Entry Load: Nil. (applicable for all plans) SECTOR ALLOCATION (%)
Exit Load:
SIP/STP) within 1 year from the date of 20.81 14.48 11.25 10.49 7.48 7.23 6.75 5.39 3.87 3.40
allotment of units: 1%
b) For redemptions / switch outs (including Scheme
SIP/STP) after 1 year from the date of 0.69
allotment of units: NIL 33.98 13.28 0.70 16.68 2.39 12.51 0.38 2.73
Total Expense Ratio** Benchmark
Regular: 1.84%; Direct: 1.08%
Financial Services Energy Industrial Manufacturing Consumer Goods Cement & Cement Products
Cash & Cash Equivalent Information Technology Textiles Fertilisers & Pesticides Construction

Product Label
Riskometer Systematic Investment Plan (SIP) If you had invested `10,000 every month
Moderate Mo
t el y d
era Higerat Total amount invested (`) 18,70,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
odLow h e
M
ly
Scheme Returns (%)
Low
10.39 7.09 3.91 -2.20 -12.05 -37.53

High
LOW HIGH
Alpha 2.57 2.43 2.57 1.71 2.65 6.23
This product is suitable for investors who are seeking*: Nifty 200 (TRI) (`)# 35,68,560 15,23,089 8,80,790 5,43,176 2,84,571 89,264
Investment in portfolio of predominantly equity & Nifty 50 (TRI) (`)^ 36,04,286 15,21,259 8,87,420 5,58,344 2,93,455 89,524
equity related securities of large & midcap companies.
* Investors should consult their financial advisors if in doubt Nifty 50 (TRI) Returns (%) 7.93 4.64 1.55 -2.83 -12.84 -43.43
about whether the product is suitable for them.
Scheme Inception : - September 09, 2004. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial
and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of
inception. # Benchmark ; ^ Additional Benchmark TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index
instead of Price Return Variant (PRI).
Kotak Equity Opportunities Fund NAV as on March 31, 2020: `17.99 (Dividend Option), `19.641 (Direct Dividend Option), `95.282 (Growth Option), `102.852 (Direct Growth Option)
7 7
Investment style
KOTAK FOCUSED EQUITY FUND Large
Medium
An open ended equity scheme investing in maximum 30 stocks Small
in large-cap, mid-cap and small-cap category
Fund Manager: Ms. Shibani Kurian & PORTFOLIO

Mr. Harish Krishnan*
AAUM: `1,414.85 crs
Assets Assets
AUM: `1,291.87 crs
Equity & Equity related State Bank Of India Banks 2.26
Benchmark: Nifty 200 TRI
HDFC Bank Ltd. Banks 7.17 Alkem Laboratories Ltd Pharmaceuticals 2.25
Allotment date: July 16, 2019
Reliance Industries Ltd. Petroleum Products 7.06 ICICI Lombard General
Folio count: 71,636
ICICI Bank Ltd. Banks 6.94 Insurance Company Ltd Finance 2.21
Investment Objective Hindustan Unilever Ltd. Consumer Non Durables 6.69 Page Industries Ltd Textile Products 2.19
The investment objective of the scheme is Infosys Ltd. Software 5.39 Max Financial Services Ltd. Finance 2.04
to generate long term capital Bharti Airtel Ltd. Telecom - Services 4.56 SRF Ltd. Industrial Products 1.94
appreciation/income by investing in equity Tata Consultancy Services Ltd. Software 3.99 AU Small Finance Bank Ltd. Banks 1.81
& equity related instruments across market
Larsen And Toubro Ltd. Construction Project 3.95 Aavas Financiers Ltd Finance 1.74
capitalization of up to 30 companies.
Shree Cement Ltd. Cement 3.78 Kajaria Ceramics Ltd. Construction 1.72
However, there is no assurance that the
objective of the scheme will be realized. Kotak Mahindra Bank Ltd. Banks 2.90 Kalpataru Power
Gujarat Gas Ltd Gas 2.82 Transmission Ltd. Power 1.27
Available Plans/Options
A) Regular Plan B) Direct Plan Axis Bank Ltd Banks 2.61
SBI Cards & Payment
P I Industries Ltd Pesticides 2.47
Options: Dividend Payout, Dividend Services Pvt. Ltd. Finance 0.83
Supreme Industries Limited Industrial Products 2.46
Reinvestment & Growth (applicable for all Equity & Equity
plans) Maruti Suzuki India Limited Auto 2.44
Related - Total 94.87
Hindustan Petroleum
Dividend Frequency Triparty Repo 5.50
Trustee s Discretion Corporation Ltd Petroleum Products 2.41
Net Current Assets/
The Ramco Cements Ltd Cement 2.35
(Liabilities) -0.37
Gujarat State Petronet Ltd. Gas 2.34
Portfolio Turnover 28.83% HDFC Standard Life Grand Total 100.00
Insurance Company Ltd. Finance 2.28
Minimum Investment Amount
Initial Investment: `5000 and in multiple of SECTOR ALLOCATION (%)
`1 for purchase and for `0.01 for switches
multiples of `1
Ideal Investments Horizon: 3 years & above 23.69 9.47 9.38 8.27 6.69 6.13 5.50 5.16 4.56 4.13 17.02
Load Structure
Banks Petroleum Products Software Finance Consumer Non Durables Cement
Exit Load:
a) For redemptions / switch outs (including TREP & Term Deposits & Rev.Repo Gas Telecom - Services Textile Products REST
SIP/STP) within 1 year from the date of
allotment of units:1%
allotment of units: Nil
Total Expense Ratio**

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
This product is suitable for investors who are seeking*:

Investment in equity & equity related securities across
market capitalisation in maximum 30 stocks
doubt about whether the product is suitable for them.
Kotak Focused Equity Fund NAV as on March 31, 2020: `7.968 (Growth Option), `8.07 (Direct Growth Option), `7.968 (Dividend Option), `8.07 (Direct Dividend Option)
*For Fund Manager experience, please refer page 57-59. **Total Expense Ratio includes applicable B30 fee and GST.
7
8
Investment style
KOTAK BLUECHIP FUND Large
Medium
Large cap fund - An open-ended equity scheme predominantly investing in large cap stocks Small
Fund Manager: Mr. Harish Krishnan* PORTFOLIO

AAUM: `1,268.45 crs
Benchmark: NIFTY 50 TRI
Equity & Equity related United Breweries Ltd. Consumer Non Durables 0.80
Allotment date: December 29, 1998 Reliance Industries Ltd. Petroleum Products 8.40 Schaeffler India Ltd Industrial Products 0.79
Folio count: 1,08,685 HDFC Bank Ltd. Banks 8.18 Eicher Motors Ltd Auto 0.78
ICICI Bank Ltd. Banks 6.64 Hindustan Unilever Ltd. Consumer Non Durables 0.76
Infosys Ltd. Software 6.50 Tata Consumer Products Ltd Consumer Non Durables 0.75
Investment Objective Tata Consultancy Motherson Sumi
To generate capital appreciation from a Services Ltd. Software 4.19 Systems Ltd. Auto Ancillaries 0.74
portfolio of predominantly equity and HDFC Ltd. Finance 3.96 Tata Steel Limited. Ferrous Metals 0.69
equity related securities falling under the Kotak Mahindra Bank Ltd. Banks 3.80 Ipca Laboratories Ltd. Pharmaceuticals 0.65
category of large cap companies. There is Axis Bank Ltd Banks 3.42 Gujarat State Petronet Ltd. Gas 0.64
no assurance that the investment objective Larsen And Toubro Ltd. Construction Project 3.28 Gujarat Gas Ltd Gas 0.59
of the scheme will be achieved. Bharti Airtel Ltd. Telecom - Services 3.07 Page Industries Ltd Textile Products 0.55
State Bank Of India Banks 2.29 SBI Cards & Payment
Available Plans/Options Asian Paints Ltd. Consumer Non Durables 2.27 Services Pvt. Ltd. Finance 0.49
A) Regular Plan B) Direct Plan ITC Ltd. Consumer Non Durables 1.86 Bandhan Bank Limited. Banks 0.47
Bharat Petroleum Dr Reddys Laboratories Ltd Pharmaceuticals 0.46
Options: Dividend Payout, Dividend Corporation Ltd. Petroleum Products 1.85 Mahindra & Mahindra
Reinvestment & Growth (applicable for all Shree Cement Ltd. Cement 1.72 Financial Services Ltd. Finance 0.44
plans) GlaxoSmithkline Consumer Rail Vikas Nigam Limited. Construction 0.41
Healthcare Ltd Consumer Non Durables 1.70 Mahindra Lifespace
Dividend Frequency Coromandel Developers Ltd Construction 0.38
Trustee s Discretion International Ltd. Fertilisers 1.63 RBL Bank Ltd Banks 0.28
Ratios Cadila Healthcare Ltd. Pharmaceuticals 1.42 Equity & Equity
Nestle India Ltd. Consumer Non Durables 1.39 Related - Total 97.26
HDFC Standard Life Mutual Fund Units
Portfolio Turnover 36.98% Insurance Company Ltd. Finance 1.30 Nippon Mutual Fund
$
Ultratech Cement Ltd. Cement 1.27 CPSE ETF Mutual Fund 0.63
Beta 0.97 ICICI Lombard General Mutual Fund Units - Total 0.63
$
Insurance Company Ltd Finance 1.20 Futures
Sharpe## -0.29 Persistent Systems Limited Software 1.17 CNX BANK INDEX-
Solar Industries India Limited Chemicals 1.17 APR2020 0.39
$
Standard Deviation 18.41% Indraprastha Gas Ltd. Gas 1.15 Debt Instruments
Pfizer Ltd. Pharmaceuticals 1.15 Debentures and Bonds
Source:$ICRA MFI Explorer. Tech Mahindra Ltd. Software 1.12 Corporate Debt/
Container Corporation Financial Institutions
Minimum Investment Amount of India Ltd. Transportation 1.07 Britannia Industries Ltd. ( ) CRISIL AAA 0.01
Initial Investment: `1000 and in multiple of The Ramco Cements Ltd Cement 1.01 Corporate Debt/Financial
`1 for purchase and for `0.01 for switches Hero MotoCorp Ltd. Auto 1.00 Institutions - Total 0.01
Additional Investment: `1000 & in multiples Max Financial Services Ltd. Finance 0.98 TERM DEPOSITS
Bajaj Finance Limited Finance 0.96 HDFC Bank Ltd. 1.02
of `1
Bharat Electronics Ltd Industrial Capital Goods 0.95 Term Deposits - Total 1.02
Ideal Investments Horizon: 3 years & above Inter Globe Aviation Ltd Transportation 0.91 Triparty Repo 1.39
Load Structure Maruti Suzuki India Limited Auto 0.91 Net Current Assets/
Entry Load: Nil. (applicable for all plans) Titan Company Ltd. Consumer Durables 0.90 (Liabilities) -0.31
National Thermal Power Grand Total 100.00
Exit Load: Corporation Limited Power 0.80
SIP/STP) within 1 year from the date of Term Deposit as provided above is towards margin for derivatives transactions
allotment of units: 1%. Equity Derivative Exposuer is 0.39%
b) For redemption/switch outs (including Note: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 81.05%, 14.15% & 3.08%.
allotment of units: Nil. SECTOR ALLOCATION (%)
Regular: 2.15%; Direct: 1.18% 13.43 10.43 4.00 3.42 2.36
34.40 12.98 4.07 3.69 3.07
Scheme
14.71 14.46 2.22 4.53
36.51 15.03 2.79 2.72 3.13
Benchmark
Financial Services Energy Information Technology Consumer Goods Construction
Cement & Cement Products Pharma Automobile Telecom Cash & Cash Equivalent
Product Label
Riskometer SYSTEMATIC INVESTMENT PLAN (SIP)
t el y
Moderate Mo
d Systematic Investment Plan (SIP) If you had invested `10,000 every month
era Higerat
odLow h e Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
M
ly
Low
High
LOW HIGH Scheme Returns (%) 11.05 5.08 1.84 -3.60 -12.47 -39.36
Investors understand that their principal will be at moderately high risk Nifty 50 (TRI) Returns (%) 9.76 4.64 1.55 -2.83 -12.84 -43.43
Long term capital growth Alpha 1.28 0.43 0.29 -0.77 0.37 4.07
Investment in portfolio of predominantly equity & equity
related securities of large cap companies Nifty 50 (TRI) (`)# 51,08,298 15,21,259 8,87,420 5,58,344 2,93,455 89,524
* Investors should consult their financial advisors if in doubt
about whether the product is suitable for them. S&P BSE SENSEX (TRI) (`)^ 53,24,538 15,83,305 9,19,981 5,81,174 3,04,330 90,955
S&P BSE SENSEX (TRI) Returns (%) 10.18 5.41 2.56 -1.25 -10.62 -41.57
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
As TRI data is not available since inception of the scheme, benchmark SIP Performance is calculated by taking S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007 and TRI Values since 31st May 2007.
Alpha is difference of scheme return with benchmark return
Kotak Bluechip Fund NAV as on March 31, 2020: `24.677 (Dividend Option), `27.287 (Direct Dividend Option), `183.672 (Growth Option), `198.24 (Direct Growth Option)
9
Investment style
KOTAK SMALL CAP FUND Large
Medium
Small cap fund - An open-ended equity scheme predominantly investing in small cap stocks Small
Fund Manager: Mr. Pankaj Tibrewal* PORTFOLIO

AAUM: `1,382.13 crs
Benchmark: NIFTY Smallcap
Equity & Equity related Kajaria Ceramics Ltd. Construction 1.27
100 TRI $
Techno Electric & Engineering Laurus Labs Ltd Pharmaceuticals 1.25
Allotment date: February 24, 2005 Company Limited Construction Project 4.10 Apollo Pipes Ltd Industrial Products 1.22
Folio count: 72,503 Sheela Foam Ltd Consumer Durables 3.64 Cadila Healthcare Ltd. Pharmaceuticals 1.22
Investment Objective Dixon Technologies India Ltd Consumer Durables 3.32 Aavas Financiers Ltd Finance 1.21
The investment objective of the scheme is JK Cement Ltd. Cement 3.25 Schaeffler India Ltd Industrial Products 1.20
to generate capital appreciation from a Amber Enterprises India Ltd Consumer Durables 3.19 Mahindra Lifespace
diversified portfolio of equity and equity Century Plyboards (India) Ltd. Consumer Durables 3.18 Developers Ltd Construction 1.08
related securities by investing Hawkins Cooker Ltd Household Appliances 3.05 Thermax Ltd. Industrial Capital Goods 0.97
predominantly in small cap companies. Galaxy Surfactants Ltd Chemicals 2.92 Dhanuka Agritech Ltd Pesticides 0.91
There is no assurance that the investment Ratnamani Metals & BEML Ltd Industrial Capital Goods 0.86
objective of the Scheme will be achieved Tubes Ltd. Ferrous Metals 2.81 Mahindra & Mahindra
Available Plans/Options Nilkamal Ltd Industrial Products 2.80 Financial Services Ltd. Finance 0.79
A) Regular Plan B) Direct Plan Alkyl Amines Chemicals Ltd. Chemicals 2.70 WPIL Ltd Industrial Products 0.79
Prataap Snacks Ltd Consumer Non Durables 2.66 Kewal Kiran
P I Industries Ltd Pesticides 2.53 Clothing Limited. Textile Products 0.78
plans) ICICI Bank Ltd. Banks 2.33 Finolex Cables Ltd. Industrial Products 0.76
Solar Industries India Limited Chemicals 2.33 Varroc Engineering Ltd. Auto Ancillaries 0.69
Dividend Frequency Lux Industries Limited Textile Products 2.26 Hindustan Oil Exploration
Trustee s Discretion Great Eastern Shipping Company Ltd. Oil 0.66
Ratios Company Ltd Transportation 2.23 RBL Bank Ltd Banks 0.66
Coromandel Shriram City Union
Portfolio Turnover 14.52% International Ltd. Fertilisers 2.15 Finance Ltd. Finance 0.60
$ APL Apollo Tubes Limited Ferrous Metals 2.10 Hindustan Petroleum
Beta 0.76 Carborundum Universal Ltd. Industrial Products 2.04 Corporation Ltd Petroleum Products 0.58
$
Sharpe## Security and Intelligence Sandhar Technologies Ltd. Auto Ancillaries 0.58
-0.45
Services India Ltd Commercial Services 1.93 Vardhman Textiles Ltd. Textiles - Cotton 0.57
$
Standard Deviation 24.21% Blue Star Ltd. Consumer Durables 1.90 Balkrishna Industries Ltd Auto Ancillaries 0.42
The Ramco Cements Ltd Cement 1.88 Sundaram Finance Ltd. Finance 0.37
Source: $ICRA MFI Explorer. AU Small Finance Bank Ltd. Banks 1.79 Motherson Sumi
Minimum Investment Amount V.S.T Tillers Tractors Ltd Auto 1.67 Systems Ltd. Auto Ancillaries 0.34
Initial Investment: `5000 and in multiple of Atul Ltd. Chemicals 1.66 Torrent Pharmaceuticals Ltd. Pharmaceuticals 0.32
`1 for purchase and for `0.01 for switches Persistent Systems Limited Software 1.59 IndusInd Bank Ltd. Banks 0.31
Additional Investment: `1000 & in Blue Dart Express Ltd. Transportation 1.55 Navneet Education Ltd. Media and Entertainment 0.01
multiples of `1 Supreme Industries Limited Industrial Products 1.55 Equity & Equity
Ideal Investments Horizon: 3 years & above Heritage Foods Ltd Consumer Non Durables 1.46 Related - Total 98.50
Load Structure Shoppers Stop Ltd. Retailing 1.46 Triparty Repo 0.89
Entry Load: Nil. (applicable for all plans) Cyient Ltd. Software 1.44 Net Current Assets/
Exit Load: V-Guard Industries Ltd. Consumer Durables 1.34 (Liabilities) 0.61
a) For redemptions / switch outs (including JMC Projects (India) Ltd Construction 1.27 Grand Total 100.00
allotment of units:1% Note: Large Cap, Midcap and Small cap stocks as a % age of Net Assets: 3.88%, 27.19% & 67.43%.
b) For redemptions / switch outs (including Equity Derivative Exposuer is 0.11%
allotment of units: NIL SECTOR ALLOCATION (%)
Regular: 1.91%; Direct: 0.90% 22.15 12.19 9.60 8.76 8.06 7.73 5.59 5.13 4.91 3.69
Scheme
5.45 4.53 10.09 4.86 2.56
13.46 5.95 19.17 4.63 1.55
Benchmark
Consumer Goods Industrial Manufacturing Chemicals Services Financial Services

Construction Fertilisers & Pesticides Cement & Cement Products Metals Automobile
Product Label SYSTEMATIC INVESTMENT PLAN (SIP)

Moderate Mo Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
t el y d
era Higerat
odLow h e Total amount invested (`) 18,20,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
M
ly
Low
High
Scheme Returns (%) 8.64 6.04 1.37 -8.15 -20.13 -44.41
LOW HIGH
Nifty Smallcap 100 (TRI) Returns (%) 1.51 -3.58 -9.62 -20.45 -36.40 -62.60
Investors understand that their principal will be at moderately high risk Alpha 7.13 9.62 10.99 12.30 16.27 18.19
Long term capital growth Nifty Smallcap 100 (TRI) (`)# 20,44,646 10,04,314 5,99,473 3,54,223 1,93,544 73,578
Investment in equity & equity related securities
predominantly in small cap Stocks. Nifty 50 (TRI) (`)^ 33,21,414 15,21,259 8,87,420 5,58,344 2,93,455 89,524
doubt about whether the product is suitable for them. Nifty 50 (TRI) Returns (%) 7.50 4.64 1.55 -2.83 -12.84 -43.43
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
Kotak Small Cap Fund as on March 31, 2020: `24.096 (Dividend Option), `26.549 (Direct Dividend Option), `52.545 (Growth Option), `57.506 (Direct Growth Option)
For last three dividends, please refer page no 60-62. For scheme performance, please refer page no 50-56. $ With Effect from 1st November 2019, the Benchmark is changed to Nifty Small Cap 100 TRI from Nifty Small Cap 50
TRI.7
10
Investment style
KOTAK TAX SAVER FUND Large
Medium
An open-ended equity linked saving scheme with a statutory lock in of 3 years and tax benefits Small

Upadhyaya*
AAUM: `994.38 crs Assets Assets
AUM: `905.59 crs
Equity & Equity related Rail Vikas Nigam Limited. Construction 1.06
Benchmark: Nifty 500 TRI ICICI Bank Ltd. Banks 6.08 Gujarat State Petronet Ltd. Gas 1.05
Allotment date: November 23, 2005 GlaxoSmithkline Consumer Bata India Ltd. Consumer Durables 1.02
Folio count: 1,99,848 Healthcare Ltd Consumer Non Durables 6.06 Container Corporation
Reliance Industries Ltd. Petroleum Products 5.71 of India Ltd. Transportation 1.01
Investment Objective HDFC Bank Ltd. Banks 4.57 United Breweries Ltd. Consumer Non Durables 1.01
The investment objective of the scheme is Axis Bank Ltd Banks 3.25 AIA Engineering Limited Industrial Products 0.92
to generate long-term capital appreciation SRF Ltd. Industrial Products 3.23 Oil & Natural Gas
from a diversified portfolio of equity and Corporation Ltd. Oil 0.91
Larsen And Toubro Ltd. Construction Project 3.12
equity related securities and enable
investors to avail the income tax rebate, as Tata Consultancy Cummins India Ltd. Industrial Products 0.90
permitted from time to time however, there Services Ltd. Software 3.02 Blue Star Ltd. Consumer Durables 0.89
is no assurance that the objective of the Kotak Mahindra Bank Ltd. Banks 2.86 Kalpataru Power
scheme will be realized. Infosys Ltd. Software 2.83 Transmission Ltd. Power 0.81
Available Plans/Options Dr Reddys Laboratories Ltd Pharmaceuticals 2.58 Techno Electric &
A) Regular Plan B) Direct Plan Ultratech Cement Ltd. Cement 2.52 Engineering
Coromandel Company Limited Construction Project 0.74
Options: Dividend Payout & Growth
International Ltd. Fertilisers 2.41 State Bank Of India Banks 0.71
(applicable for all plans)
Shree Cement Ltd. Cement 2.33 Dalmia Bharat Limited Cement 0.70
Dividend Frequency Thermax Ltd. Industrial Capital Goods 2.25 APL Apollo Tubes Limited Ferrous Metals 0.69
Trustee s Discretion AU Small Finance Bank Ltd. Banks 2.23 Max Financial Services Ltd. Finance 0.68
Ratios Gujarat Gas Ltd Gas 2.17 Hawkins Cooker Ltd Household Appliances 0.64
Cadila Healthcare Ltd. Pharmaceuticals 1.92 Hindalco Industries Ltd Non - Ferrous Metals 0.63
Portfolio Turnover 11.49% GAIL (India) Ltd. Gas 0.51
Nestle India Ltd. Consumer Non Durables 1.80
$
Beta 0.97 Bajaj Auto Ltd. Auto 1.67 RBL Bank Ltd Banks 0.46
SKF India Ltd Industrial Products 1.46 JMC Projects (India) Ltd Construction 0.44
$
Sharpe## -0.29 ICICI Lombard General Parag Milk Foods Ltd Consumer Non Durables 0.35
$
Insurance Company Ltd Finance 1.43 Ksb Ltd Industrial Products 0.18
Standard Deviation 19.21% Solar Industries ABB Power Products and
Source: $ICRA MFI Explorer. India Limited Chemicals 1.34 System India Limited Industrial Capital Goods 0.17
Hindustan Petroleum Equity & Equity
Initial Investment: `500 and in multiple of Corporation Ltd Petroleum Products 1.31 Related - Total 94.08
`500 The Ramco Cements Ltd Cement 1.27 Preference Shares
Additional Investment: `500 & in multiples Jindal Steel & Power Ltd. Ferrous Metals 1.23 6% Redm Preference Sh Zee
of `500 Blue Dart Express Ltd. Transportation 1.21 Entertainment Enterprises Ltd. Media and Entertainment 0.03
Ideal Investments Horizon: 3 years & above Linde India Ltd. Chemicals 1.21 Preference Share - Total 0.03
Load Structure ABB Ltd. Industrial Capital Goods 1.17 Triparty Repo 5.52
Entry Load: Nil. (applicable for all plans) Page Industries Ltd Textile Products 1.17 Net Current Assets/
Exit Load: Exit Load is not applicable for Whirlpool of India Ltd. Consumer Durables 1.10 (Liabilities) 0.37
Kotak Tax Saver Fund. (applicable for all Balkrishna Industries Ltd Auto Ancillaries 1.09 Grand Total 100.00
plans)
Regular: 2.55%; Direct: 1.24% SECTOR ALLOCATION (%)
22.27 12.46 12.24 7.05 6.82 5.87 5.86 5.37 4.50 4.40
Scheme
1.86 11.80 5.09
32.29 12.53 16.68 2.39 2.97 0.48
Benchmark
Financial Services Energy Consumer Goods Industrial Manufacturing Cement & Cement Products
Cash & Cash Equivalent Information Technology Construction Pharma Textiles
Product Label
t el y
Moderate Mo
d Systematic Investment Plan (SIP) If you had invested `10,000 every month
era Higerat
odLow h e Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
M
ly
Low
High
LOW HIGH
Scheme Returns (%) 7.35 6.12 3.47 -2.82 -12.52 -39.77
Investors understand that their principal will be at moderately high risk Nifty 500 (TRI) Returns (%) 6.67 4.52 1.14 -4.47 -15.61 -44.09
long term capital growth with a 3 year lock in Alpha 0.67 1.60 2.33 1.65 3.09 4.32
Investment in portfolio of predominantly equity &
equity related securities. Nifty 500 (TRI) (`)# 28,64,631 15,11,916 8,74,492 5,35,367 2,80,268 89,006
doubt about whether the product is suitable for them. Nifty 50 (TRI) (`)^ 28,90,479 15,21,259 8,87,420 5,58,344 2,93,455 89,524
7
Scheme Inception : - November 23, 2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial
Kotak Tax Saver Fund NAV as on March 31, 2020: `13.566 (Dividend Option), `16.625 (Direct Dividend Option), `34.479 (Growth Option) `37.753 (Direct Growth Option)
11
Investment style
KOTAK INDIA EQ CONTRA FUND Large
Medium
An open-ended equity scheme following contrarian investment strategy Small
Fund Manager: Ms. Shibani Kurian* PORTFOLIO

AAUM: `724.60 crs
AUM: `631.28 crs Assets Assets
Benchmark: NIFTY 100 TRI Equity & Equity related National Thermal Power
Allotment date: July 27, 2005 Reliance Industries Ltd. Petroleum Products 7.56 Corporation Limited Power 1.08
Folio count: 54,526 HDFC Bank Ltd. Banks 7.03 Petronet LNG Ltd. Gas 1.08
ICICI Bank Ltd. Banks 6.46 SRF Ltd. Industrial Products 1.08
Investment Objective Infosys Ltd. Software 5.88 Voltas Ltd. Consumer Durables 1.08
The investment objective of the scheme is to Hindustan Unilever Ltd. Consumer Non Durables 4.22 Mahindra & Mahindra Ltd. Auto 1.03
generate capital appreciation from a Larsen And Toubro Ltd. Construction Project 3.56 Kajaria Ceramics Ltd. Construction 0.97
diversified portfolio of equity and equity Bharti Airtel Ltd. Telecom - Services 3.17 Jubilant Foodworks Limited Consumer Non Durables 0.89
related instruments. However, there is no Ultratech Cement Ltd. Cement 3.06 Kalpataru Power
assurance that the objective of the scheme Kotak Mahindra Bank Ltd. Banks 2.96 Transmission Ltd. Power 0.85
will be realized. Tata Consultancy Aavas Financiers Ltd Finance 0.81
Available Plans/Options Services Ltd. Software 2.78 ITC Ltd. Consumer Non Durables 0.79
A) Regular Plan B) Direct Plan Axis Bank Ltd Banks 2.51 Federal Bank Ltd. Banks 0.68
Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.47 Inter Globe Aviation Ltd Transportation 0.66
Shree Cement Ltd. Cement 2.36 Jindal Steel & Power Ltd. Ferrous Metals 0.63
State Bank Of India Banks 2.01 Exide Industries Ltd Auto Ancillaries 0.56
plans)
Cadila Healthcare Ltd. Pharmaceuticals 1.72 HDFC Ltd. Finance 0.54
Dividend Frequency Gujarat Gas Ltd Gas 1.72 Alkem Laboratories Ltd Pharmaceuticals 0.52
Trustee s Discretion Supreme Industries Limited Industrial Products 1.70 The Ramco Cements Ltd Cement 0.45
Ratios Maruti Suzuki India Limited Auto 1.66 Mahindra & Mahindra
Gujarat State Petronet Ltd. Gas 1.62 Financial Services Ltd. Finance 0.35
Portfolio Turnover 59.37% Max Financial Services Ltd. Finance 1.59 Dabur India Ltd Consumer Non Durables 0.31
Bajaj Finance Limited Finance 1.58 Britannia Industries Ltd. Consumer Non Durables 0.30
$
Beta 1.02 AU Small Finance Bank Ltd. Banks 1.56 Cummins India Ltd. Industrial Products 0.20
Titan Company Ltd. Consumer Durables 1.56
$
Sharpe## -0.20 Sun Pharmaceuticals
HDFC Standard Life
Industries Ltd. Pharmaceuticals 0.08
$
19.21% Insurance Company Ltd. Finance 1.51
Standard Deviation Equity & Equity
HCL Technologies Ltd. Software 1.40
Hindustan Petroleum
Source: $ICRA MFI Explorer. Debt Instruments
Corporation Ltd Petroleum Products 1.38
Minimum Investment Amount Coromandel Debentures and Bonds
Initial Investment: `5000 and in multiple of International Ltd. Fertilisers 1.35 Corporate Debt/
`1 for purchase and for `0.01 for switches Page Industries Ltd Textile Products 1.32 Financial Institutions
Additional Investment: `1000 & in multiples Colgate Palmolive (India) Ltd. Consumer Non Durables 1.21 Britannia Industries Ltd. ( ) CRISIL AAA 0.01
of `1 ICICI Lombard General Corporate Debt/Financial
Ideal Investments Horizon: 3 years & above Insurance Company Ltd Finance 1.20 Institutions - Total 0.01
Bharat Electronics Ltd Industrial Capital Goods 1.17 Triparty Repo 1.46
Load Structure
Entry Load: Nil. (applicable for all plans) Container Corporation Net Current Assets/
Exit Load: of India Ltd. Transportation 1.11 (Liabilities) 0.11
a) For redemptions / switch outs (including Bharat Petroleum Grand Total 100.00
SIP/STP) within 1 year from the date of Corporation Ltd. Petroleum Products 1.09
allotment of units: 1%.
b) For redemption/switch outs (including
SIP/STP) after 1 year from the date of SECTOR ALLOCATION (%)
allotment of units: Nil.
Total Expense Ratio** 16.37 10.06 4.78 3.26 3.07
Regular: 2.24%; Direct: 1.15% 30.77 10.38 5.87 4.53 3.17
Scheme
13.63 13.08 4.03 4.47 0.24
35.48 16.50 2.39 2.61 2.76
Benchmark
Financial Services Energy Consumer Goods Information Technology Cement & Cement Products
Pharma Construction Automobile Telecom Industrial Manufacturing

Product Label SYSTEMATIC INVESTMENT PLAN (SIP)

t el y d
era Higerat
M
ly
Low
High
Scheme Returns (%) 7.57 5.41 2.05 -3.01 -13.87 -43.68
LOW HIGH Nifty 100 (TRI) Returns (%) 7.55 5.03 1.79 -3.03 -13.38 -42.84
Investors understand that their principal will be at moderately high risk Alpha 0.02 0.38 0.26 0.02 -0.49 -0.84
Long term capital growth Nifty 100 (TRI) (`)# 31,85,738 15,52,632 8,94,915 5,55,394 2,90,865 89,974
Investment in portfolio of predominantly equity & equity
related securities Nifty 50 (TRI) (`)^ 30,64,405 15,21,259 8,87,420 5,58,344 2,93,455 89,524
about whether the product is suitable for them. Nifty 50 (TRI) Returns (%) 7.07 4.64 1.55 -2.83 -12.84 -43.43
Scheme Inception : - July 27,2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final
value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. #
Benchmark ; ^ Additional Benchmark
Kotak India EQ Contra Fund NAV as on March 31, 2020: `14.421 (Dividend Option), `16.344 (Direct Dividend Option), `39.408 (Growth Option), `43.266 (Direct Growth Option)
12
Investment style
KOTAK PIONEER FUND Large
Medium
Thematic - An open ended equity scheme investing in pioneering innovations theme. Small
Fund Manager: Mr. Harish Krishnan & PORTFOLIO

Mr. Arjun Khanna* Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `525.19 crs
Benchmark: 85% IISL Kotak India Equity & Equity related Persistent Systems Limited Software 1.34
Pioneering Innovations Reliance Industries Ltd. Petroleum Products 9.54 Gujarat State Petronet Ltd. Gas 1.31
+ 15% MSCI ACWI
HDFC Bank Ltd. Banks 7.90 Tata Motors Ltd. Auto 1.22
Information Technology
Index TRI. Bajaj Finance Limited Finance 3.47 GE Power India Limited Industrial Capital Goods 1.17
Allotment date: October 31, 2019 Titan Company Ltd. Consumer Durables 3.38 Bandhan Bank Limited. Banks 1.09
Folio count: 30,441 Maruti Suzuki India Limited Auto 3.25 APL Apollo Tubes Limited Ferrous Metals 1.04
Investment Objective Sun Pharmaceuticals Schaeffler India Ltd Industrial Products 0.99
The investment objective of the scheme is Industries Ltd. Pharmaceuticals 2.81 Page Industries Ltd Textile Products 0.97
to generate capital appreciation from a Cadila Healthcare Ltd. Pharmaceuticals 2.60 IndusInd Bank Ltd. Banks 0.84
diversified portfolio of equity, equity related Inter Globe Aviation Ltd Transportation 2.44 Mahindra Lifespace
instruments and units of global mutual Tata Consumer
funds which invests into such companies Developers Ltd Construction 0.76
that utilize new forms of production, Products Ltd Consumer Non Durables 2.25 Igarashi Motors India Ltd. Auto Ancillaries 0.70
technology, distribution or processes which Container Corporation Ratnamani Metals &
are likely to challenge existing markets or of India Ltd. Transportation 2.22 Tubes Ltd. Ferrous Metals 0.59
value networks, or displace established HDFC Standard Life
market leaders, or bring in novel products Affle (India) Ltd. Software 0.36
and/or business models. Insurance Company Ltd. Finance 2.00 ABB Power Products and
However, there can be no assurance that AIA Engineering Limited Industrial Products 1.99
System India Limited Industrial Capital Goods 0.21
the investment objective of the Scheme will Mahindra & Mahindra Ltd. Auto 1.96
Edelweiss Financial
be realized. Bharat Electronics Ltd Industrial Capital Goods 1.74
Services Ltd Finance 0.18
Available Plans/Options Solar Industries
Equity & Equity
A) Regular Plan B) Direct Plan India Limited Chemicals 1.74
Options: Dividend Payout, Dividend Thermax Ltd. Industrial Capital Goods 1.74
Reinvestment & Growth (applicable for all Mutual Fund Units
Trent Ltd Retailing 1.74
plans) Signature Global Technology
Divi s Laboratories Limited Pharmaceuticals 1.67
Dividend Frequency Corporate Class Fund Overseas Mutual Fund 20.29
Bharat Forge Ltd. Industrial Products 1.66
Trustee s Discretion Mutual Fund Units - Total 20.29
ABB Ltd. Industrial Capital Goods 1.61
Ratios Triparty Repo 4.22
Lupin Ltd. Pharmaceuticals 1.57
P I Industries Ltd Pesticides 1.51 Net Current Assets/
Portfolio Turnover 0.55%
Indiamart intermesh ltd. Retailing 1.47 (Liabilities) -0.94
Minimum Investment Amount Grand Total 100.00
Motherson Sumi
Initial Investment: `5000 and in multiple of Systems Ltd. Auto Ancillaries 1.40
`1 for purchase and of `0.01 for switches
multiples of `1
Ideal Investments Horizon: 3 years & above For viewing detailed portfolio of CI Signature Global Technology Corporate Class on desktop please visit: Kotak MF
Load Structure website>> Forms & Essentials>>Portfolios>> CI Signature Global Technology Corporate Class. Also you can scan
Entry Load: Nil. (applicable for all plans) the QR code for CI Signature Global Technology Corporate Class portfolio.
Exit Load:
allotment of units:1%
b) For redemptions / switch outs (including SECTOR ALLOCATION (%)
allotment of units: NIL
Total Expense Ratio** 20.29 9.83 9.54 8.65 6.47 6.43 5.65 4.66 4.64 4.22 19.62
Overseas Mutual Fund Banks Petroleum Products Pharmaceuticals Industrial Capital Goods Auto
Product Label Finance Transportation Industrial Products TREP & Term Deposits & Rev.Repo REST
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Investors understand that their principal will be at high risk
Investment in equity and equity related securities of
companies operating with pioneering innovations
theme without any market capitalisation and sector
bias.
Kotak Pioneer Fund NAV as on March 31, 2020: `7.536 (Dividend Option), `7.594 (Direct Dividend Option), `7.536 (Growth Option), `7.593 (Direct Growth Option)
13
Investment style
KOTAK INDIA GROWTH FUND SERIES 4 Large
Medium
Multicap fund - A 36 months close ended equity scheme investing across large cap, Small
midcap and small cap stocks
Fund Manager: Mr. Devender Singhal* PORTFOLIO

(w.e.f. January 24,
2019) Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `327.68 crs Equity & Equity related Ultratech Cement Ltd. Cement 0.95
ICICI Bank Ltd. Banks 7.73 Alkem Laboratories Ltd Pharmaceuticals 0.92
Benchmark: Nifty 200 TRI ITC Ltd. Consumer Non Durables 6.85 Larsen And Toubro Ltd. Construction Project 0.88
Allotment date: February 20, 2018 Reliance Industries Ltd. Petroleum Products 4.63 Sun TV Network Ltd. Media and Entertainment 0.87
State Bank Of India Banks 3.82 PNC Infratech Ltd Construction 0.86
Folio count: 15,133 Kalpataru Power
Bharti Airtel Ltd. Telecom - Services 3.43
Kotak Mahindra Bank Ltd. Banks 3.43 Transmission Ltd. Power 0.81
Investment Objective National Thermal Power Rail Vikas Nigam Limited. Construction 0.80
The investment objective of the scheme is Corporation Limited Power 2.76 IndusInd Bank Ltd. Banks 0.73
to generate capital appreciation from a Infosys Ltd. Software 2.74 Bharat Electronics Ltd Industrial Capital Goods 0.71
diversified portfolio of equity & equity Axis Bank Ltd Banks 2.63 Container Corporation
related instruments across market........ The Ramco Cements Ltd Cement 2.54 of India Ltd. Transportation 0.69
capitalisation and sectors. SRF Ltd. Industrial Products 2.34 Mahindra Lifespace
Indiamart intermesh ltd. Retailing 2.07 Developers Ltd Construction 0.59
There is no assurance or guarantee that the Bharat Petroleum KNR Constructions Ltd. Construction 0.55
investment objective of the scheme will be Corporation Ltd. Petroleum Products 1.97 HDFC Standard Life
achieved. Jubilant Foodworks Limited Consumer Non Durables 1.95 Insurance Company Ltd. Finance 0.54
Solara Active Pharma Saregama India Ltd. Media and Entertainment 0.47
Sciences Ltd. Pharmaceuticals 1.93 Tata Motors Ltd. Auto 0.47
A)Regular Plan B) Direct Plan FDC LTD Pharmaceuticals 1.92 CESC Ventures Ltd. Software 0.41
Emami Ltd. Consumer Non Durables 1.91 Dhanuka Agritech Ltd Pesticides 0.32
Options: Dividend Payout & Growth...... Hindustan Unilever Ltd. Consumer Non Durables 1.85 Future Retail Ltd. Retailing 0.19
(applicable for all plans) Laurus Labs Ltd Pharmaceuticals 1.69 Equity & Equity
Dividend Frequency Hindustan Petroleum Related - Total 88.73
Corporation Ltd Petroleum Products 1.65 Futures
Trustee s Discretion CESC Ltd. Power 1.62 HDFC Bank Ltd.-APR2020 2.11
Ratios Century Plyboards (India) Ltd. Consumer Durables 1.57 Tata Motors Ltd.-APR2020 0.43
JMC Projects (India) Ltd Construction 1.36 Bharat Electronics Ltd-
Portfolio Turnover 85.85% Hero MotoCorp Ltd. Auto 1.35 APR2020 0.26
Mahindra & Mahindra Ltd. Auto 1.31 Options
Source: $ICRA MFI Explorer. Maruti Suzuki India Limited Auto 1.30 CNX NIFTY - 10500.000 -
Thermax Ltd. Industrial Capital Goods 1.24 Put Option - December 2020 4.40
Minimum Investment Amount Dr Reddys Laboratories Ltd Pharmaceuticals 1.09 Options - Total 4.40
The scheme is a close ended scheme. The Prataap Snacks Ltd Consumer Non Durables 1.07 TERM DEPOSITS
units of the scheme can be traded on the SBI Cards & Payment HDFC Bank Ltd. 2.06
stock exchange. Services Pvt. Ltd. Finance 1.07 Term Deposits - Total 2.06
Shree Cement Ltd. Cement 1.07 Triparty Repo 4.63
Load Structure Federal Bank Ltd. Banks 1.05 Net Current Assets/
Entry Load: Nil. (applicable for all plans) JK Cement Ltd. Cement 1.03 (Liabilities) 0.18
Exit Load: Nil. (applicable for all plans) Jindal Steel & Power Ltd. Ferrous Metals 1.00 Grand Total 100.00
Total Expense Ratio** Term Deposit as provided above is towards margin for derivatives transactions
Regular:1.28%; Direct: 0.34% Equity Derivative Exposuer is 7.20%
SECTOR ALLOCATION (%)
23.11 17.46 13.45 7.54 5.58 5.03 4.87 4.40 4.07 3.43
Scheme
16.68 4.72 2.73 2.50

33.98 13.28 2.39 4.97
Benchmark
Financial Services Consumer Goods Energy Pharma Cement & Cement Products
Construction Automobile Others Cash & Cash Equivalent Telecom
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH

Investment in equity and equity related securities
without any market capitalisation and sector bias.
Kotak India Growth Fund Series 4 NAV as on March 31, 2020: `7.652 (Dividend Option), `7.796 (Direct Dividend Option), `7.652 (Growth Option), `7.803 (Direct Growth Option)
*For Fund Manager experience, please refer page 57-59. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 50-56.
7
14
Investment style
Medium
Multicap fund - A 1099 days close ended equity scheme investing across large cap, Small
midcap and small cap stocks

(w.e.f. January 24,
2019) Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
AUM: `264.56 crs Equity & Equity related HDFC Standard Life
Benchmark: Nifty 200 TRI Reliance Industries Ltd. Petroleum Products 11.79 Insurance Company Ltd. Finance 1.67
Allotment date: May 15, 2018 HDFC Bank Ltd. Banks 9.77 Lupin Ltd. Pharmaceuticals 1.65
Maruti Suzuki Mahindra Lifespace
Folio count: 4,604
India Limited Auto 4.28 Developers Ltd Construction 1.64
Investment Objective Coromandel Container Corporation
To generate capital appreciation from a
International Ltd. Fertilisers 3.98 of India Ltd. Transportation 1.63
diversified portfolio of equity & equity
related instruments across market......... Bajaj Finance Limited Finance 3.35 Bandhan Bank Limited. Banks 1.54
capitalisation and sectors. Sun Pharmaceuticals Rail Vikas Nigam Limited. Construction 1.24
There is no assurance or guarantee that the Industries Ltd. Pharmaceuticals 3.33 ABB Ltd. Industrial Capital Goods 1.19
investment objective of the scheme will be P I Industries Ltd Pesticides 3.32 CRISIL Ltd. Finance 1.19
achieved. SRF Ltd. Industrial Products 3.16 Affle (India) Ltd. Software 1.14
Available Plans/Options APL Apollo Tubes Limited Ferrous Metals 3.06 Bharat Forge Ltd. Industrial Products 1.07
A)Regular Plan B) Direct Plan Indiamart intermesh ltd. Retailing 3.05 Hindustan Oil Exploration
Options: Dividend Payout & Growth Titan Company Ltd. Consumer Durables 2.94 Company Ltd. Oil 0.79
(applicable for all plans) Ratnamani Metals & IndusInd Bank Ltd. Banks 0.66
Dividend Frequency Tubes Ltd. Ferrous Metals 2.85 Saregama India Ltd. Media and Entertainment 0.64
Trustee s Discretion Persistent Systems Limited Software 2.80 Vinati Organics Ltd Chemicals 0.55
Ratios Inter Globe Aviation Ltd Transportation 2.72 Edelweiss Financial
Portfolio Turnover 39.09% Solar Industries Services Ltd Finance 0.38
India Limited Chemicals 2.65 RBL Bank Ltd Banks 0.22
Source: $ICRA MFI Explorer. Schaeffler India Ltd Industrial Products 2.60 ABB Power Products and
Minimum Investment Amount Cadila Healthcare Ltd. Pharmaceuticals 2.49 System India Limited Industrial Capital Goods 0.17
The scheme is a close ended scheme. The GE Power India Limited Industrial Capital Goods 2.37 Indian Railway Catering And
units of the scheme can be traded on the Tata Motors Ltd. Auto 2.28 Tourism Corporation Ltd Services 0.16
stock exchange.
Motherson Sumi Equity & Equity
Load Structure Systems Ltd. Auto Ancillaries 2.07 Related - Total 97.67
AIA Engineering Limited Industrial Products 1.85 Triparty Repo 2.33
Exit Load: Nil. (applicable for all plans)
Amara Raja Batteries Ltd. Auto Ancillaries 1.72 Grand Total 100.00
Gujarat Gas Ltd Gas 1.71
18.78 14.29 10.34 9.24 7.47 7.29 5.99 5.92 4.50 3.94
Scheme
13.28 0.70 0.69 0.97
33.98 4.97 4.72 16.68 2.37 12.51
Benchmark
Financial Services Energy Automobile Industrial Manufacturing Pharma Fertilisers & Pesticides
Consumer Goods Metals Services Information Technology
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH

15
Investment style
KOTAK INFRASTRUCTURE & Large
ECONOMIC REFORM FUND Medium
An open ended equity scheme following infrastructure & Economic Reform theme Small

AAUM: `253.69 crs
Benchmark: India Infrastructure Equity & Equity related Kajaria Ceramics Ltd. Construction 2.07
Index (Customised
Shree Cement Ltd. Cement 7.46 APL Apollo Tubes Limited Ferrous Metals 2.06
Index by IISL)
Allotment date: February 25, 2008 Solar Industries Rail Vikas Nigam Limited. Construction 1.81
Folio count: 20,880 India Limited Chemicals 6.21 JMC Projects (India) Ltd Construction 1.80
Investment Objective Ultratech Cement Ltd. Cement 6.13 Cummins India Ltd. Industrial Products 1.39
The investment objective of the scheme is
to generate long-term capital appreciation Larsen And Toubro Ltd. Construction Project 6.11 ABB Ltd. Industrial Capital Goods 1.33
from a diversified portfolio of.........
predominantly equity and equity-related Thermax Ltd. Industrial Capital Goods 4.68 Hindustan Oil Exploration
securities of companies involved in........ Indraprastha Gas Ltd. Gas 4.58 Company Ltd. Oil 1.20
economic development of India as a result
of potential investments in infrastructure Schaeffler India Ltd Industrial Products 4.21 Kalpataru Power
and unfolding economic reforms. However,
there is no assurance that the objective of AIA Engineering Limited Industrial Products 3.98 Transmission Ltd. Power 1.19
the scheme will be realized. Mahindra Lifespace
Reliance Industries Ltd. Petroleum Products 3.94
A) Regular Plan B) Direct Plan Supreme Industries Limited Industrial Products 3.89 Developers Ltd Construction 1.18
Options: Dividend Payout, Dividend.......... Gujarat Gas Ltd Gas 3.54 Techno Electric &
GE Power India Limited Industrial Capital Goods 3.36 Engineering
plans)
Dividend Frequency H G Infra Engineering Ltd. Construction Project 3.31 Company Limited Construction Project 1.17
Trustee s Discretion GAIL (India) Ltd. Gas 1.08
Container Corporation
Ratios
of India Ltd. Transportation 3.13 WPIL Ltd Industrial Products 0.80
National Thermal Power Sadbhav Engineering Ltd. Construction Project 0.30
$
Beta 1.03 Corporation Limited Power 2.78 ABB Power Products and
$
Sharpe## -0.55 Ratnamani Metals & System India Limited Industrial Capital Goods 0.21
$
Standard Deviation 23.70% Tubes Ltd. Ferrous Metals 2.57 Equity & Equity
Source: $ICRA MFI Explorer. Bharat Electronics Ltd Industrial Capital Goods 2.46 Related - Total 98.98
Minimum Investment Amount BEML Ltd Industrial Capital Goods 2.45 Triparty Repo 1.47
Initial Investment: `5000 and in multiple of
`1 for purchase and for `0.01 for switches The Ramco Cements Ltd Cement 2.42 Net Current Assets/
Additional Investment: `1000 & in........ PNC Infratech Ltd Construction 2.10 (Liabilities) -0.45
multiples of `1
Ideal Investments Horizon: 3 years & above SKF India Ltd Industrial Products 2.08 Grand Total 100.00
Load Structure
Exit Load: SECTOR ALLOCATION (%)
SIP/STP) within 1 year from the date of....... 16.01 4.63 1.00
allotment of units: 1%; 30.85 19.86 18.32 6.21 3.13
SIP/STP) after 1 year from the date of......... Scheme
allotment of units: NIL;
4.68 2.04
Total Expense Ratio** 9.41 8.39 25.40 13.70 6.15 10.75
Benchmark
Industrial Manufacturing Construction Energy Cement & Cement Products Chemicals
Metals Services Cash & Cash Equivalent Automobile Financial Services
Product Label
Riskometer
Moderate Mo
t el y d Systematic Investment Plan (SIP) If you had invested `10,000 every month
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH Scheme Returns (%) 4.21 2.34 -1.69 -10.97 -23.58 -51.44
India Infrastructure Index (Customised Index by IISL)(TRI) Returns (%) -2.67 -4.09 -7.22 -12.89 -23.89 -50.28
Long term capital growth Alpha 6.88 6.44 5.53 1.92 0.30 -1.16
Long term capital appreciation by investing in equity and
equity related instruments of companies contributing to India Infrastructure Index (Customised Index by IISL) (TRI) (`)# 12,42,597 9,79,051 6,51,668 4,31,068 2,43,218 84,087
infrastructure and economic development of India
* Investors should consult their financial advisors if in doubt Nifty 50 (TRI) (`)^
21,53,827 15,21,259 8,87,420 5,58,344 2,93,455 89,524
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
Kotak Infrastructure & Economic Reform Fund NAV as on March 31, 2020: `10.981 (Dividend Option), `14.904 (Direct Dividend Option), `13.73 (Growth Option), `15.076 (Direct Growth Option)
7
16
Investment style
Medium
Multicap Fund - A 36 months close ended equity scheme investing across large cap, Small
midcap and small cap stocks.
Fund Manager: Ms. Shibani Kurian* PORTFOLIO
AAUM: `30.78 crs
Benchmark: Nifty 50 TRI Equity & Equity related AU Small Finance
Allotment date: August 31, 2018 Reliance Industries Ltd. Petroleum Products 7.93 Bank Ltd. Banks 1.70
Folio count: 561 HDFC Bank Ltd. Banks 7.37 Aavas Financiers Ltd Finance 1.31
Investment Objective ICICI Bank Ltd. Banks 6.72 Colgate Palmolive
The investment objective of the scheme is Infosys Ltd. Software 5.77 (India) Ltd. Consumer Non Durables 1.29
to generate capital appreciation from a Hindustan Unilever Ltd. Consumer Non Durables 4.17 Kalpataru Power
diversified portfolio of equity & equity
related instruments across market Kotak Mahindra Bank Ltd. Banks 3.56 Transmission Ltd. Power 1.17
capitalisation and sectors. It also endeavors Larsen And Toubro Ltd. Construction Project 3.26 Bajaj Finance Limited Finance 1.16
to manage risks through equity derivatives.
Tata Consultancy ICICI Lombard General
There is no assurance or guarantee that the Services Ltd. Software 3.17
investment objective of the scheme will be Insurance Company Ltd Finance 1.06
achieved. Axis Bank Ltd Banks 2.70 Container Corporation
Available Plans/Options Bharti Airtel Ltd. Telecom - Services 2.47 of India Ltd. Transportation 0.98
A)Regular Plan B) Direct Plan Shree Cement Ltd. Cement 2.44
National Thermal Power
Options: Dividend Payout & Growth Ultratech Cement Ltd. Cement 2.26
Corporation Limited Power 0.81
(applicable for all plans) Coromandel
Dr Reddys Laboratories Ltd Pharmaceuticals 0.47
Dividend Frequency International Ltd. Fertilisers 2.24
Trustee s Discretion Equity & Equity
HDFC Ltd. Finance 2.20
Ratios Related - Total 81.69
Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.13
Options
Portfolio Turnover 43.51% Supreme Industries Limited Industrial Products 2.10
CNX NIFTY - 11400.000 -
State Bank Of India Banks 2.05
Minimum Investment Amount Put Option - June 2021 14.49
SRF Ltd. Industrial Products 2.04
The scheme is a close ended scheme. The CNX NIFTY - 11200.000 -
units of the scheme can be traded on the Gujarat State Petronet Ltd. Gas 1.87
stock exchange. Put Option - June 2021 3.26
Maruti Suzuki
Load Structure India Limited Auto 1.77 Options - Total 17.75
Entry Load: Nil. (applicable for all plans) Net Current Assets/
Bharat Petroleum
Corporation Ltd. Petroleum Products 1.76 (Liabilities) 0.56
Regular: 1.26%; Direct: 0.18% HDFC Standard Life Grand Total 100.00
Insurance Company Ltd. Finance 1.76
Term Deposit as provided above is towards margin for derivatives transactions
Equity Derivative Exposuer is 17.75%

8.94 4.70 2.59 2.24
31.58 17.74 13.54 5.46 3.26 2.47
Scheme
2.22 2.72 0.50

36.51 14.71 15.03 14.46 2.79 3.13
Benchmark
Financial Services Others Energy Information Technology Consumer Goods
Cement & Cement Products Construction Pharma Telecom Fertilisers & Pesticides
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH

Long term capital growth.
*Investors should consult their financial advisors if in doubt
17
Maturity
Short Medium Long Volatility
KOTAK EQUITY ARBITRAGE FUND Low
Medium
An open-ended scheme investing in arbitrage opportunities High
Fund Manager: Mr. Hiten Shah* Top 10 Holdings

AAUM: `15,194.16 crs Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Derivatives
AUM: `10,545.92 crs
Equity & Equity related
Benchmark: Nifty 50 Arbitrage Index
HDFC Ltd. Finance 6.99 -7.00
Allotment date: September 29, 2005
Reliance Industries Ltd. Petroleum Products 6.85 -6.88
Folio count: 30,646
Bharti Airtel Ltd. Telecom - Services 5.13 -5.14
Investment Objective Tata Consultancy Services Ltd. Software 3.78 -3.79
to generate capital appreciation and Infosys Ltd. Software 3.40 -3.42
income by predominantly investing in Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 2.93 -2.92
arbitrage opportunities in the cash and
derivatives segment of the equity market, HCL Technologies Ltd. Software 1.75 -1.76
and by investing the balance in debt and Tech Mahindra Ltd. Software 1.62 -1.62
money market instruments.
State Bank Of India Banks 1.52 -1.52
A) Regular Plan B) Direct Plan Axis Bank Ltd Banks 1.50 -1.50
Options: Dividend Payout, Dividend Others 27.77 -27.79

Reinvestment & Growth (applicable for all Equity & Equity Related - Total 63.24 -63.34
plans)
Money Market Instruments
Dividend Frequency
Fortnightly (Every alternate Monday from Commercial Paper(CP)/Certificate of Deposits(CD) 3.71
the 1st record date), Monthly (Monday TERM DEPOSITS 26.14
preceding the last Thursday of the month),
Bimonthly (Monday preceding the last Triparty Repo 14.66
Thursday of the following months - January, Net Current Assets/(Liabilities) -7.75
March, May, July, September, November)
Grand Total 100.00
Ratios

$
Beta 0.49 For detailed portfolio log on to
$
Sharpe## 2.37 www.kotakmf.com/funds/equity-funds/Kotak-Equity-Arbitrage-Fund/Reg-G
Also you can scan the QR code for detailed portfolio.
$
Standard Deviation 0.51%
Source: $ICRA MFI Explorer.

Term Deposit as provided above is towards margin for derivatives transactions
`1 for purchase and for `0.01 for switches SECTOR ALLOCATION (%)
multiples of `1 9.28 5.13 5.05 3.71 4.28
Ideal Investments Horizon: 3 months & 40.80 11.66 8.30 5.11 4.32 2.36
above
Load Structure
Entry Load: Nil. (applicable for all plans) TREP & Term Deposits & Rev.Repo Software Finance Petroleum Products Telecom - Services Pharmaceuticals
Exit Load:
a) For redemptions/switch outs (including Consumer Non Durables Banks Commercial Paper (CP)/Certificate of Deposits (CD) Auto REST
SIP/STP) within 30 days from the date of
allotment of units: 0.25%
b) For redemptions/switch outs (including Kotak Equity Arbitrage Fund NAV as on March 31, 2020: `10.6921 (Monthly Dividend Option), `11.1721 (Direct monthly Dividend Option), `28.0478 (Growth
SIP/STP) after 30 days from the date of Option), `29.069 (Direct Growth Option), `19.9472 (Bimonthly Dividend), `20.141 (Direct Bimonthly Dividend), `23.0869 (Fortnightly Dividend), `23.561 (Direct
allotment of units: Nil Fortnightly Dividend)
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Investors understand that their principal will be at moderately low risk
Income from arbitrage opportunities in the equity market
Investment in arbitrage opportunities in the cash &
derivatives segment of the equity market.
*For Fund Manager experience, please refer page 57-59, Mr. Hiten Shah has been managing the fund since 03/10/2019. ## Risk rate assumed to be 4.81% (FBIL Overnight MIBOR rate as on 31st March 2020).**Total Expense
Ratio includes applicable B30 fee and GST.
7
18
Maturity Investment style
Short Medium Long Volatility Value Blend Growth Size
KOTAK BALANCED Low Large
ADVANTAGE FUND Medium Medium
An open ended dynamic asset allocation fund High Small
Fund Manager: Mr. Harish Krishnan Kotak Balanced Advantage Fund Asset Allocation
Mr. Hiten Shah
13000 90.0
Mr. Abhishek Bisen
Mr. Arjun Khanna* KBAF – It’s Automatic
11331
Nifty 50 Index Value (LHS) 76.5
12000 80.0
AAUM: `3,496.28 crs 10934
11157 70.0
10301 12025
AUM: `3,251.91 crs 11000
Portfolio Details % of Net Assets 60.0
Benchmark: NIFTY 50 Hybrid Net Equity 76.47
10000
Composite Debt Arbitrage 15.16 50.0
50:50 Index Debt and Cash 8.37
9000 42.0 8597.75
K-BAF Net Equity (RHS) 40.0
Allotment date: August 3, 2018
8000
Folio count: 87,672 34.6
29.9 37.9 30.0
25.5
7000 20.0
Investment Objective
Dec-18
Dec-18
Feb-19
Feb-19
Mar-19
Mar-19
Mar-19
May-19
May-19
Dec-19
Dec-19
Feb-20
Feb-20
Mar-20
Mar-20
Nov-18
Nov-18
Nov-19
Nov-19
Sep-18
Sep-18
Sep-19
Sep-19
Oct-18
Oct-18
Oct-19
Oct-19
Jan-19
Jan-19
Jun-19
Jun-19
Jul-19
Jul-19
Jan-20
Jan-20
Jan-20
Aug-18
Apr-19
Apr-19
Aug-19
Aug-19
Aug-19
to generate capital appreciation by Source: Internal Analysis. As on 31st March 2020. Automatic: A fund that gives you freedom from managing
investing in a dynamically balanced equity and debt allocation manually during the market ups and down, giving you a balanced growth.
portfolio of equity & equity related Mutual fund investment are subject to market risk, read all scheme related documents carefully
securities and debt & money market Top 10 Holdings
securities.
Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Available Plans/Options Derivatives
A) Regular Plan B) Direct Plan
Equity & Equity related
Options: Dividend Payout, Dividend CNX NIFTY-APR2020 4.99
Reinvestment & Growth (applicable for all Reliance Industries Ltd. Petroleum Products 4.36
plans) HDFC Bank Ltd. Banks 3.96
ICICI Bank Ltd. Banks 3.26
Dividend Frequency Infosys Ltd. Software 3.11
Trustee's Discretion Tata Consultancy Services Ltd. Software 2.36
Kotak Mahindra Bank Ltd. Banks 2.23
Ratios HDFC Ltd. Finance 2.19
Axis Bank Ltd Banks 2.15
Portfolio Turnover 84.50% Bharti Airtel Ltd. Telecom - Services 1.95
Others 49.92 -6.56
Minimum Investment Amount Equity & Equity Related - Total 75.49 -1.57
Initial Investment: `1000 and in multiple of Mutual Fund Units 2.55
`1 for purchase and of `0.01 for switches Debt Instruments
Debentures and Bonds 10.62
Additional Investment: `1000 & in Government Dated Securities 2.22
multiples of `1 TERM DEPOSITS 6.71
Load Structure Triparty Repo 2.83
Entry Load: Nil. (applicable for all plans) Net Current Assets/(Liabilities) -0.42
Grand Total 100.00
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 For detailed portfolio log on to
excess of the limit within 1 year from the
www.kotakmf.com/funds/hybrid-funds/Kotak-Balanced-Advantage-Fund/Reg-%20G
date of allotment: 1%.
c) If units are redeemed or switched out on Also you can scan the QR code for detailed portfolio.
or alter 1 year from the date of allotment:
Nil.
Total Expense Ratio** Term Deposit as provided above is towards margin for derivatives transactions
10.62 8.41 7.1 4.03 2.55
14.78 9.54 7.32 6.97 3.13 25.55
Product Label Banks Debentures and Bonds TREP & Term Deposits & Rev.Repo Petroleum Products Software
Riskometer
Consumer Non Durables Finance Cement Auto Mutual Fund REST
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
Monthly SIP of (`) 10000 Since Inception 1 year

LOW HIGH Total amount invested (`) 2,00,000 1,20,000
Investors understand that their principal will be at moderately high risk Total Value as on Mar 31, 2020 (`) 1,77,462 1,03,123
This product is suitable for investors who are seeking*: Scheme Returns (%) -13.05 -25.03
Wealth creation over a long period of time.
Investment in equity, equity related securities & NIFTY 50 Hybrid Composite Debt 50:50 Index Returns (%) -8.24 -18.55
debt, money market instruments while managing risk
through active allocation. Alpha -4.81 -6.48
about whether the product is suitable for them. NIFTY 50 Hybrid Composite Debt 50:50 Index (`)# 1,85,717 1,07,642
Nifty 50 (TRI) (`)^ 1,53,271 89,524
Nifty 50 (TRI) Returns (%) -27.30 -43.43
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
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.
Kotak Balanced Advantage Fund NAV as on March 31, 2020: `9.263 (Dividend Option), `9.428 (Direct Dividend Option), `9.263 (Growth Option) `9.428 (Direct Growth Option)
*For Fund Manager experience, please refer page 57-59, Mr. Hiten Shah has been managing the fund since 03/10/2019. **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no
60-62. For scheme performance, please refer page no 50-56.
7
19
KOTAK EQUITY HYBRID FUND Low Large
Medium Medium
An open-ended hybrid scheme investing predominantly in equity
and equity related instruments High Small
Fund Manager: Mr. Pankaj Tibrewal & PORTFOLIO

Mr. Abhishek Bisen*
AAUM: `1,205.70 crs
Assets Assets
AUM: `1,077.26 crs
Equity & Equity related JMC Projects (India) Ltd Construction 0.36
Benchmark: NIFTY 50 Hybrid HDFC Bank Ltd. Banks 6.80 Exide Industries Ltd Auto Ancillaries 0.30
Composite Debt ICICI Bank Ltd. Banks 6.46 SBI Cards & Payment
Kotak Mahindra Bank Ltd. Banks 3.51 Services Pvt. Ltd. Finance 0.30
65:35 Index $ Infosys Ltd. Software 3.33 Finolex Cables Ltd. Industrial Products 0.29
Allotment date: November 25, 1999 State Bank Of India Banks 3.11 Kirloskar Oil Engines Ltd. Industrial Products 0.27
Reliance Industries Ltd. Petroleum Products 3.06 Atul Ltd. Chemicals 0.24
Folio count: 38,963 Larsen And Toubro Ltd. Construction Project 2.92 RBL Bank Ltd Banks 0.15
JK Cement Ltd. Cement 2.63 Mahindra & Mahindra
Investment Objective Axis Bank Ltd Banks 2.60 Financial Services Ltd. Finance 0.13
Investment objective of the scheme is to HDFC Ltd. Finance 2.44 Equity & Equity
achieve growth by investing in equity and Dr Reddys Laboratories Ltd Pharmaceuticals 2.21 Related - Total 79.04
Tata Consultancy Services Ltd. Software 2.08 Debt Instruments
equity related instruments, balanced with Thermax Ltd. Industrial Capital Goods 1.97 Debentures and Bonds
income generation by investing in debt and Techno Electric & Engineering Corporate Debt/
money market instruments. However, there Company Limited Construction Project 1.76 Financial Institutions
The Ramco Cements Ltd Cement 1.76 ECL Finance Ltd. CRISIL AA- 1.52
is no assurance that the objective of the Solar Industries India Limited Chemicals 1.67 Shriram Transport
scheme will be realized. Bharat Petroleum Finance Co Ltd. CRISIL AA+ 0.28
Corporation Ltd. Petroleum Products 1.60 Reliable Devices Trust
Available Plans/Options Schaeffler India Ltd Industrial Products 1.54 ( Underlying customer
A) Regular Plan B) Direct Plan P I Industries Ltd Pesticides 1.53 Reliance Retail ) ICRA AAA(SO) 0.14
Sun Pharmaceuticals LIC Housing Finance Ltd. CRISIL AAA 0.05
Options: Dividend Payout, Dividend Industries Ltd. Pharmaceuticals 1.47 Corporate Debt/Financial
Reinvestment & Growth (applicable for all Shree Cement Ltd. Cement 1.32 Institutions - Total 1.99
plans) ITC Ltd. Consumer Non Durables 1.27 Public Sector Undertakings
Galaxy Surfactants Ltd Chemicals 1.14 National Highways
Dividend Frequency Century Plyboards (India) Ltd. Consumer Durables 1.12 Authority Of India CRISIL AAA 4.45
Half Yearly (25th of Mar/Sep) Cadila Healthcare Ltd. Pharmaceuticals 1.07 U P Power Corporation Ltd
Gujarat Gas Ltd Gas 1.03 ( Guaranteed By UP
Ratios Coromandel International Ltd. Fertilisers 1.01 State Government ) CRISIL A+(CE) 1.41
ICICI Lombard General Canara Bank FITCH IND AAA 1.37
Portfolio Turnover 16.58% Insurance Company Ltd Finance 0.98 Punjab & Sind Bank -
Supreme Industries Limited Industrial Products 0.98 AT1 Bonds ICRA A+ 1.13
$
Beta 1.28 AU Small Finance Bank Ltd. Banks 0.93 U P Power Corporation Ltd
APL Apollo Tubes Limited Ferrous Metals 0.90 ( Guaranteed By UP
$
Sharpe## -0.41 Maruti Suzuki India Limited Auto 0.87 State Government ) FITCH IND AA(CE) 1.12
National Thermal Power National Bank for Agriculture
Corporation Limited Power 0.84 & Rural Development CRISIL AAA 0.07
$
Standard Deviation 16.40% V.S.T Tillers Tractors Ltd Auto 0.84 Public Sector
MRF Limited Auto Ancillaries 0.83 Undertakings - Total 9.55
Source: $ICRA MFI Explorer. Kajaria Ceramics Ltd. Construction 0.82 Government
GAIL (India) Ltd. Gas 0.80 Dated Securities
Minimum Investment Amount Mahindra & Mahindra Ltd. Auto 0.78
Initial Investment: `5000 and in multiple of 7.57% Central Government SOV 3.00
HDFC Standard Life Insurance 6.45% Central Government SOV 1.90
`1 for purchase and for `0.01 for switches Company Ltd. Finance 0.72 7.26% Central Government SOV 1.46
Additional Investment: `1000 & in IndusInd Bank Ltd. Banks 0.64 Government Dated
Mahindra Lifespace Securities - Total 6.36
multiples of `1 Developers Ltd Construction 0.62
Ideal Investments Horizon: 3 years & above TERM DEPOSITS
Lupin Ltd. Pharmaceuticals 0.60 HDFC Bank Ltd. 0.53
Emami Ltd. Consumer Non Durables 0.57 Term Deposits - Total 0.53
Load Structure Oil & Natural Gas
Entry Load: Nil. (applicable for all plans) Triparty Repo 1.60
Corporation Ltd. Oil 0.56
Exit Load: Dixon Technologies India Ltd Consumer Durables 0.45 Net Current Assets/
Apollo Hospitals (Liabilities) 0.93
a) For redemption/switch out of upto 10% Grand Total 100.00
of the initial investment amount (limit) Enterprises Ltd. Healthcare Services 0.44
Motherson Sumi Systems Ltd. Auto Ancillaries 0.42
the date of allotment: Nil. Term Deposit as provided above is towards margin for derivatives transactions
b) If units redeemed or switched out are in
excess of the limit within 1 year from the SECTOR ALLOCATION (%)
c) If units are redeemed or switched out on
or alter 1 year from the date of allotment: 11.54 5.71 5.35 4.66 3.08
Nil. 24.20 6.36 5.41 4.68 4.27 24.74
Banks Debentures and Bonds Government Dated Securities Cement Software Pharmaceuticals
Construction Project Petroleum Products Finance Industrial Products REST
Product Label
Moderate Mo Systematic Investment Plan (SIP) If you had invested `10,000 every month
t el y d
era Higerat
odLow h e Monthly SIP of (`) 10000 Since Inception 5 years 3 year 1 year
M
ly
Total amount invested (`) 6,50,000 6,00,000 3,60,000 1,20,000

Low
High
Total Value as on Mar 31, 2020 (`) 6,10,583 5,55,262 3,01,532 95,785
LOW HIGH Scheme Returns (%) -2.27 -3.04 -11.19 -35.17
NIFTY 50 Hybrid Composite Debt 65:35 Index Returns (%) 8.14 8.27 6.08 -0.86
Long term capital growth Alpha -10.41 -11.31 -17.27 -34.31
balanced with income generation by investing in debt
& money.
NIFTY 50 Hybrid Composite Debt 65:35 Index (`)# 8,06,631 7,34,041 3,92,819 1,19,526
doubt about whether the product is suitable for them. Nifty 50 (TRI) (`)^ 6,11,957 5,58,344 2,93,455 89,524
Nifty 50 (TRI) Returns (%) -2.19 -2.83 -12.84 -43.43
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
instead of Price Return Variant (PRI).
Kotak Equity Hybrid Fund NAV as on March 31, 2020: `12.094 (Dividend Option), `13.721 (Direct Dividend Option), `20.272 (Growth Option) `22.16 (Direct Growth Option)
For Fund Manager experience, please refer page 57-59. ## Risk rate assumed to be 4.81% (FBIL Overnight MIBOR rate as on 31st March 2020).**Total Expense Ratio includes applicable B30 fee and GST.
For last three dividends, please refer page no 60-62. For scheme performance, please refer page no 50-56. $ 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.
7
20
KOTAK EQUITY SAVINGS FUND Low Large
Medium Medium
An open-ended scheme investing in equity, arbitrage and debt High Small
Fund Manager: Mr. Harish Krishnan Top 10 Holdings

Mr. Hiten Shah Issuer/Instrument Industry/Rating % to Net Assets % to Net Assets
Mr. Abhishek Bisen Derivatives
Mr. Arjun Khanna*
AAUM: `1,558.29 crs Equity & Equity related
AUM: `1,448.10 crs Grasim Industries Ltd. Cement 5.03 -5.03
Benchmark: 75% NIFTY 50 Reliance Industries Ltd. Petroleum Products 3.84
ARBITRAGE + 25%
HDFC Bank Ltd. Banks 3.36
Nifty 50 TRI
Allotment date: October 13, 2014 HDFC Ltd. Finance 3.25 -3.25
Folio count: 16,143 ICICI Bank Ltd. Banks 2.95
Infosys Ltd. Software 2.48
Reliance Industries Ltd. Petroleum Products 2.17 -2.17
to generate capital appreciation and Tata Consultancy Services Ltd. Software 1.99
income by predominantly investing in
arbitrage opportunities in the cash and HDFC Ltd. Finance 1.77
derivatives segment of the equity market, Kotak Mahindra Bank Ltd. Banks 1.75
and enhance returns with a moderate
exposure in equity & equity related Others 36.62 -10.67
instruments. There is no assurance or Equity & Equity Related - Total 65.21 -21.12
guarantee that the investment objective of
the scheme will be achieved. Mutual Fund Units 10.34
Available Plans/Options Debt Instruments
Debentures and Bonds 6.88
Options: Dividend Payout, Dividend........
TERM DEPOSITS 9.56
plans) Triparty Repo 8.01
Dividend Frequency Net Current Assets/(Liabilities) 0.00
Monthly (12th of every month) Quarterly Grand Total 100.00
(20th of March, June, September and
December of every year)
Ratios
Portfolio Turnover 100.52% For detailed portfolio log on to
$
Beta 1.40 www.kotakmf.com/funds/hybrid-funds/Kotak-Equity-Savings-Fund/Reg-%20G
$
Sharpe## -0.22 Also you can scan the QR code for detailed portfolio.
$
Source: $ICRA MFI Explorer.
Minimum Investment Amount Term Deposit as provided above is towards margin for derivatives transactions
`1 for purchase and for `0.01 for switches SECTOR ALLOCATION (%)
Additional Investment: `1000 & in.......
multiples of `1 for purchase and for `0.01 12.97 7.81 6.93 6.67 3.05
for switches 17.57 7.93 7.29 6.88 5.65 17.25
Ideal Investments Horizon: 3 years & above
Load Structure
Entry Load: Nil. TREP & Term Deposits & Rev.Repo Banks Consumer Non Durables Finance Unrated
Exit Load:
a) For redemption / switch out of upto 10% Petroleum Products Debentures and Bonds Cement Software Mutual Fund REST
of the initial investment amount (limit)
the date of allotment: Nil. SYSTEMATIC INVESTMENT PLAN (SIP)
b) If units redeemed or switched out are in
excess of the limit within 1 year from the Systematic Investment Plan (SIP) If you had invested `10,000 every month
c) If units are redeemed or switched out on Monthly SIP of (`) 10000 Since Inception 5 years 3 year 1 year
or after 1 year from the date of allotment: Total amount invested (`) 6,60,000 6,00,000 3,60,000 1,20,000
Nil.
Total Value as on Mar 31, 2020 (`) 7,17,175 6,39,521 3,52,416 1,10,499
Regular: 2.14%; Direct: 1.21% Scheme Returns (%) 2.98 2.52 -1.38 -14.37
Data as on March 31, 2020 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 Returns (%) 3.99 3.74 1.35 -8.22
Alpha -1.01 -1.22 -2.73 -6.15
Product Label
Riskometer 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 (`)# 7,37,539 6,59,586 3,67,531 1,14,622
Moderate Mo Nifty 50 (TRI) (`)^ 6,23,632 5,58,344 2,93,455 89,524
t el y d
era Higerat
odLow h e Nifty 50 (TRI) Returns (%) -2.03 -2.83 -12.84 -43.43
M
ly
Low
High
Scheme Inception : - October 13, 2014. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR
helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration.
Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark
LOW HIGH 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
Investors understand that their principal will be at moderately high risk Benchmark Index instead of Price Return Variant (PRI).
This product is suitable for investors who are seeking*: Alpha is difference of scheme return with benchmark return.
Income from arbitrage opportunities in the equity Kotak Equity Savings Fund NAV as on March 31, 2020: `13.359 (Growth Option), `10.1741 (Monthly Dividend Option), `10.1227 (Quarterly Dividend Option),
market & long term capital growth
`13.8903 (Direct Growth Option), `10.5122 (Direct Monthly Dividend Option), `10.1439 (Direct Quarterly Dividend Option)
Investment predominantly in arbitrage opportunities in
the cash & derivatives segment of the equity market and *For Fund Manager experience, please refer page 57-59, Mr. Hiten Shah has been managing the fund since 03/10/2019. ## Risk rate assumed to be 4.81% (FBIL
equity & equity related securities Overnight MIBOR rate as on 31st March 2020).**Total Expense Ratio includes applicable B30 fee and GST.
* Investors should consult their financial advisors if in doubt For last three dividends, please refer page no 60-62. For scheme performance, please refer page no 50-56.
7
21
Investment style Maturity
Value Blend Growth Size Short Medium Long Volatility
KOTAK DEBT HYBRID FUND Large Low
Medium Medium
An open-ended hybrid scheme investing predominantly in High
debt instruments Small
Fund Manager: Mr. Devender Singhal & PORTFOLIO

Mr. Abhishek Bisen*
AAUM: `240.44 crs Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
Assets Assets
AUM: `232.04 crs
Equity & Equity related Heritage Foods Ltd Consumer Non Durables 0.14
Benchmark: CRISIL Hybrid 85+15 - ICICI Bank Ltd. Banks 2.26 V.S.T Tillers Tractors Ltd Auto 0.13
Conservative Index ITC Ltd. Consumer Non Durables 1.90 Mahindra Lifespace
State Bank Of India Banks 1.22 Developers Ltd Construction 0.12
Allotment date: December 02, 2003 Hindustan Unilever Ltd. Consumer Non Durables 1.04 CESC Ventures Ltd. Software 0.10
Folio count: 5,182 HDFC Bank Ltd. Banks 0.97 Equity & Equity
Axis Bank Ltd Banks 0.75 Related - Total 23.81
Bharti Airtel Ltd. Telecom - Services 0.75 Debt Instruments
Investment Objective Indiamart intermesh ltd. Retailing 0.72 Debentures and Bonds
The investment objective of the scheme is to SRF Ltd. Textile Products 0.72 Corporate Debt/
enhance returns over a portfolio of debt Infosys Ltd. Software 0.67 Financial Institutions
Jubilant Foodworks Limited Consumer Non Durables 0.65 Bajaj Finance Ltd. CRISIL AAA 2.16
instruments with a moderate exposure in National Thermal Power Hindalco Industries Ltd. CRISIL AA 0.31
equity and equity related instruments. By Corporation Limited Power 0.62 Corporate Debt/Financial
investing in debt securities, the scheme will Emami Ltd. Consumer Non Durables 0.61 Institutions - Total 2.47
aim at generating regular returns, while Maruti Suzuki India Limited Auto 0.57 Public Sector Undertakings
enhancement of return is intended through The Ramco Cements Ltd Cement 0.57 Power Finance
FDC LTD Pharmaceuticals 0.55 Corporation Ltd. CRISIL AAA 6.81
investing in equity and equity related CESC Ltd. Power 0.53 Punjab & Sind Bank
securities. The scheme may also use various Godfrey Phillips India Ltd. Consumer Non Durables 0.53 (AT1 bonds) ICRA A+ 6.49
derivative and hedging products from time Bharat Petroleum Canara Bank FITCH IND AAA 4.25
to time, in the manner permitted by SEBI. Corporation Ltd. Petroleum Products 0.50 Indian Railway Finance
Kotak Mahindra Bank Ltd. Banks 0.50 Corporation Ltd. CRISIL AAA 3.85
There is no assurance that the investment Solara Active Pharma National Highways
objective of the schemes will be realised. Sciences Ltd. Pharmaceuticals 0.40 Authority Of India CRISIL AAA 3.71
Mahindra & Mahindra Ltd. Auto 0.37 NHPC Ltd. FITCH IND AAA 2.27
Available Plans/Options P I Industries Ltd Pesticides 0.37 Rural Electrification
A) Regular Plan B) Direct Plan Alkem Laboratories Ltd Pharmaceuticals 0.36 Corporation Ltd. CRISIL AAA 0.94
Century Plyboards Bank Of Baroda (AT1 bonds) ICRA AA 0.88
Options: Dividend Payout, Dividend............ (India) Ltd. Consumer Durables 0.36 NHPC Ltd. ICRA AAA 0.32
Reinvestment & Growth (applicable for all IndusInd Bank Ltd. Banks 0.36 Public Sector
plans) Laurus Labs Ltd Pharmaceuticals 0.36 Undertakings - Total 29.52
Huhtamaki PPL Ltd Industrial Products 0.35 Government
Dividend Frequency Hero MotoCorp Ltd. Auto 0.32 Dated Securities
Monthly (12th of every Month) Quarterly Prataap Snacks Ltd Consumer Non Durables 0.32 7.26% Central Government SOV 13.57
(20th of Mar/Jun/Sep/Dec) Hindustan Petroleum 7.57% Central Government SOV 4.64
Corporation Ltd Petroleum Products 0.31 7.27% Central Government SOV 4.52
Ratios Sun TV Network Ltd. Media and Entertainment 0.28 6.45% Central Government SOV 4.41
$
Thermax Ltd. Industrial Capital Goods 0.27 8.27% State Government-
Standard Deviation 7.83% Castrol (India ) Ltd. Petroleum Products 0.26 Rajasthan SOV 2.27
Container Corporation 8.42% State Government-
Modified Duration 3.50 yrs of India Ltd. Transportation 0.25 Tamil Nadu SOV 1.60
SBI Cards & Payment Government Dated
Services Pvt. Ltd. Diversified Financial Services 0.25 Securities - Total 31.01
Portfolio Yield 6.27% Tata Motors Ltd. Auto 0.23 TERM DEPOSITS
$
Source: ICRAMFI Explorer. KNR Constructions Ltd. Construction 0.22 HDFC Bank Ltd. 0.37
Saregama India Ltd. Media and Entertainment 0.21 Term Deposits - Total 0.37
Standard Deviation is calculated on Dhanuka Agritech Ltd Pesticides 0.19 Triparty Repo 10.83
Annualised basis using 3 years history of City Union Bank Ltd. Banks 0.17 Net Current Assets/
Eris Lifesciences Ltd Pharmaceuticals 0.16 (Liabilities) 1.99
monthly returns. JMC Projects (India) Ltd Construction 0.16
Rail Vikas Nigam Limited. Construction 0.16 Grand Total 100.00
Initial Investment: (i) Dividend Re- Term Deposit as provided above is towards margin for derivatives transactions
investment & Growth and Dividend Payout
(Quarterly) - `5000 & above (ii) Dividend ALLOCATION (%)
Payout (Monthly) - `50,000 & above
31.99 31.01 23.81 11.2 1.99
Additional Investment: `1000 & in multiples
of `1
Ideal Investments Horizon - 1 year & above
Load Structure Debentures and Bonds Government Dated Securities Equities TREP & Term Deposits & Rev.Repo Net Current Assets
Exit Load: RATING PROFILE (%)
a) For redemption / switch out of upto 10%
of the initial investment amount (limit) 55.32 23.81 11.2 6.49 1.99
1.19
the date of allotment: Nil.
b) If units redeemed or switched out are in Equities TREP & Term Deposits & Rev.Repo
AAA, IND AAA, SOV A+ Net Current Assets AA
excess of the limit within 1 year from the
c) If units are redeemed or switched out on SYSTEMATIC INVESTMENT PLAN (SIP)
or after 1 year from the date of allotment:
Nil. Systematic Investment Plan (SIP) If you had invested `10,000 every month
Total Expense Ratio** Monthly SIP of (`) 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
Regular: 2.13%; Direct: 1.15% Total amount invested (`) 19,60,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000
Data as on March 31, 2020 Total Value as on Mar 31, 2020 (`) 36,39,767 17,34,922 10,42,367 6,68,461 3,69,792 1,16,258
Product Label Scheme Returns (%) 7.14 7.16 6.08 4.27 1.75 -5.74
Riskometer
CRISIL Hybrid 85+15 - Conservative Index Returns (%) 8.37 8.54 8.26 7.37 6.44 2.55
Moderate Mo
t el y d Alpha -1.23 -1.37 -2.19 -3.10 -4.69 -8.29
era Higerat
odLow h e
CRISIL Hybrid 85+15 - Conservative Index (`)# 40,70,251 18,64,845 11,26,851 7,22,577 3,96,878 1,21,638
M
ly
CRISIL 10 Year Gilt Index (`)^ 36,50,083 18,16,374 11,38,681 7,45,699 4,19,387 1,28,523
Low
High
CRISIL 10 Year Gilt Index Returns (%) 7.18 8.04 8.55 8.63 10.18 13.46
LOW HIGH
Investors understand that their principal will be at moderate risk
Scheme Inception : - December 02, 2003. 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.
Income & capital growth over a long term horizon Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark.
Investment in a portfolio of debt instruments with a Alpha is difference of scheme return with benchmark return.
moderate exposure in equity & equity related Average Maturity of the portfolio based on Security's original maturity date: 5.40 years.
instruments
* Investors should consult their financial advisors if in doubt Kotak Debt Hybrid Fund NAV as on March 31, 2020: `31.0531 (Growth Option), `33.5098 (Direct Growth Option), `10.8717 (Monthly Dividend), `11.3902 (Direct
about whether the product is suitable for them. Monthly Dividend), `12.2672 (Quarterly Dividend), `12.9651 (Direct Quarterly Dividend)
*For Fund Manager experience, please refer page 57-59. ## Risk rate assumed to be 4.81% (FBIL Overnight MIBOR rate as on 31st March 2020).**Total Expense Ratio
includes applicable B30 fee and GST. For last three dividends, please refer page no 60-62. For scheme performance, please refer page no 50-56.
22
Maturity
KOTAK OVERNIGHT FUND Low
Medium
An open ended debt scheme investing in overnight securities High
Fund Manager: Mr. Deepak Agrawal* PORTFOLIO

AAUM: `6,150.74 crs
Benchmark: NIFTY 1D Rate index Reverse Repo 38.69 Grand Total 100.00
TRI
Triparty Repo 60.62
Allotment date: January 15, 2019
Folio count: 3,801
ALLOCATION (%)
The primary objective of the Scheme is to
generate income through investment in 99.31 0.69
debt & money market instruments having
maturity of one business day (including
CBLO (Tri-Party Repo), Reverse Repo and TREP & Term Deposits & Rev.Repo Net Current Assets
equivalent). However, there is no
assurance or guarantee that the
investment objective of the scheme will be
achieved.
RATING PROFILE (%)
A)Regular Plan B)Direct Plan
99.31 0.69
Dividend Frequency
Daily, Weekly (Every Monday) (applicable
for all plans)
TREP & Term Deposits & Rev.Repo Net Current Assets
Modified Duration 0.01 yrs
Portfolio Yield 0.93%

multiples of `1 for purchase and for 0.01
for switches
Load Structure
Regular: 0.15%; Direct:0.10%
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Investors understand that their principal will be at low risk
Income over a short term investment horizon
Investment in debt & money market securities having
maturity of one business day.
Average Maturity of the portfolio based on Security's original maturity date: 0.01 years
Kotak Overnight Fund NAV as on March 31, 2020: `1065.206 (Growth Option), `1065.862 (Direct Growth Option), `1004.757 (Regular Daily Dividend), `1003.606 (Direct Daily Dividend)
23
Maturity
Short Medium Long Volatility Fund Manager: Mr. Deepak Agrawal* AAUM: `24,379.12 crs
KOTAK LIQUID FUND Low Benchmark: Nifty Liquid Index AUM: `23,623.14 crs
Allotment date: November 4, 2003
Medium
Folio count: 39,025
An open-ended liquid scheme High
The investment objective of the Scheme is to PORTFOLIO
provide reasonable returns and high level of
liquidity by investing in debt instruments such as
bonds, debentures & Government Securities; Assets Assets
and money market instruments such as treasury Debt Instruments Bajaj Finance Ltd. CRISIL A1+ 0.21
bills, commercial paper, certificate of deposit,
including repos in permitted securities of Debentures and Bonds HDB Financial Services Ltd. CRISIL A1+ 0.11
different maturities, so as to spread the risk
across different kinds of issuers in the debt Corporate Debt/ Corporate Debt/Financial
markets. The Scheme may invest in call Financial Institutions Institutions - Total 35.17
money/term money market in terms of RBI
guidelines in this respect. Subject to the Bajaj Finance Ltd. CRISIL AAA 0.72 Public Sector
maximum amount permitted from time to time,
the Scheme may invest in offshore securities in HDB Financial Services Ltd. CRISIL AAA 0.43 Undertakings
the manner allowed by SEBI / RBI, provided such Kotak Mahindra Prime Ltd. CRISIL AAA 0.27 Syndicate Bank FITCH IND A1+ 7.77
investments are in conformity with the
investment objective of the Scheme and the Corporate Debt/Financial Indian Oil Corporation Ltd. ICRA A1+ 6.74
prevailing guidelines and Regulations. To reduce National Bank for Agriculture
Institutions - Total 1.42
the risk of the portfolio, the Scheme may also use
various derivative and hedging products from Government & Rural Development ICRA A1+ 6.58
time to time, in the manner permitted by SEBI.
There is no assurance that the investment Dated Securities Bank Of Baroda FITCH IND A1+ 4.20
objective of the Schemes will be realised. 7.8% Central Government SOV 4.29 National Housing Bank CRISIL A1+ 4.20
Available Plans/Options 8.27% Central Government SOV 2.56 Export-Import Bank of India CRISIL A1+ 2.73
6.65% Central Government SOV 1.27 Oriental Bank of Commerce CRISIL A1+ 2.31
Options: Dividend Payout, Bank of India CRISIL A1+ 1.89
Dividend Reinvestment & Growth Government Dated
(applicable for all plans) Securities - Total 8.12 Hindustan Petroleum
Dividend Frequency Money Market Instruments Corporation Ltd. CRISIL A1+ 1.68
Daily, Weekly (Every Monday) (applicable for all
plans) Commercial Paper(CP)/ National Bank for Agriculture
Certificate of Deposits(CD) & Rural Development CRISIL A1+ 1.66

Ratios
Corporate Debt/ Andhra Bank CRISIL A1+ 1.52
$
Financial Institutions National Thermal Power
Reliance Industries Ltd. CRISIL A1+ 10.50 Corporation Ltd. CRISIL A1+ 1.26
$ Reliance Jio Infocomm Ltd. CRISIL A1+ 5.88 Rural Electrification
Source: ICRAMFI Explorer. Standard Deviation is
calculated on Annualised basis using 3 years AXIS Bank Ltd. CRISIL A1+ 3.58 Corporation Ltd. CRISIL A1+ 1.26
history of monthly returns. Andhra Bank CARE A1+ 1.05
Vedanta Ltd. CRISIL A1+ 3.15
Minimum Investment Amount Public Sector
Initial Investment: `500 and in multiple of `1 for Muthoot Finance Ltd. CRISIL A1+ 2.09
purchases and of `0.01 for switches Tata Capital Financial Undertakings - Total 44.85
Additional Investment: `500 and in multiples of Treasury Bills
`1 for purchases and of `0.01 for switches Services Limited CRISIL A1+ 2.00
Ideal Investment Horizon: 1 - 15 days Tata Capital Housing 84 Days Cash Management
Total Expense Ratio** Finance Ltd. CRISIL A1+ 2.00 Bill 23/06/2020 SOV 4.61
Regular: 0.25%; Direct: 0.20% 77 Days Cash Management
IndusInd Bank Ltd. CRISIL A1+ 1.05
Load Structure Tata Motors Finance Ltd. ICRA A1+ 1.05 Bill 16/06/2020 SOV 1.05
Tata Motors Finance Ltd. CRISIL A1+ 1.05 Treasury Bills - Total 5.66
Exit Load Structure Triparty Repo 15.12
with effect from October 20, 2019. Tata Motors Finance
1. Exit load shall applicable be as per the graded basis as Solutions Ltd. ICRA A1+ 1.05 Net Current Assets/
specified below:
Investor exit upon Exit load as a % of redemption Chambal Fertilisers & (Liabilities) -10.34
subscription proceeds
Day 1 0.0070% Chemicals Ltd. CRISIL A1+ 0.84 Grand Total 100.00
Day 2 0.0065%
Day 3 0.0060% Hero FinCorp Ltd. CRISIL A1+ 0.61
Day 4 0.0055%
Day 5 0.0050%
Day 6 0.0045%
Day 7 onwards 0.0000%
Any exit load charged (net off Goods and Services tax, if any) ALLOCATION (%)
shall be credited back to the Scheme. Units issued on
reinvestment of dividends shall not be subject to entry and exit
load. -10.34 80.02 15.12 8.12 5.66 1.42
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.
Commercial Paper (CP)/Certificate of Deposits (CD) TREP & Term Deposits & Rev.Repo Government Dated Securities
3. The revised load structure will be applicable for Insta
Redemption facility as per the applicable circular.
Treasury Bills Debentures and Bonds Net Current Assets
4. Applicability of revised exit load on redemption /switch-out of
units would be done on First in First out Basis ( FIFO ).
Riskometer RATING PROFILE (%)
Moderate Mo
t el y d
era Higerat -10.34
odLow h e 95.22 15.12
M
ly
Low
High
A1+, AAA, IND A1+, SOV TREP & Term Deposits & Rev.Repo Net Current Assets
LOW HIGH
Investors understand that their principal will be at low risk
Investment in debt & money market securities
Kotak Liquid Fund NAV as on March 31, 2020: `4000.476 (Growth Option), `4014.869 (Direct Growth Option), `1000.542 (Weekly Dividend), `1005.506 (Direct Weekly Dividend), `1222.81 Daily Dividend), `1222.81
(Direct Daily Dividend)
24
Maturity
KOTAK MONEY MARKET FUND Low
Medium
An open-ended debt scheme investing in money market instruments High

AAUM: `9,584.10 crs
Benchmark: Nifty Money Market AXIS Bank Ltd. ICRA A1+ 4.74
Public Sector Undertakings
Index
Small Industries Development Reliance Jio Infocomm Ltd. CRISIL A1+ 4.14
Allotment date: July 14, 2003
Bank Of India CRISIL A1+ 5.51 Hero FinCorp Ltd. CRISIL A1+ 3.33
Folio count: 9,480
National Bank for Agriculture & Aditya Birla Finance Ltd. ICRA A1+ 2.74
Investment Objective Rural Development ICRA A1+ 4.83 AXIS Bank Ltd. CRISIL A1+ 2.66
The investment objective of the Scheme is Small Industries Development Reliance Industries Ltd. CRISIL A1+ 2.66
to generate returns by investing in money
Bank Of India CARE AAA 4.80 Tata Capital Housing
market instruments having maturity upto 1
year. There is no assurance that the Small Industries Development Finance Ltd. CRISIL A1+ 2.38
investment objective of the Scheme will be Bank Of India CARE A1+ 3.97 Kotak Mahindra
realised. Investments Ltd. CRISIL A1+ 1.97
Indian Oil Corporation Ltd. ICRA A1+ 2.78
Available Plans/Options Andhra Bank CARE A1+ 2.42 Tata Capital Financial
Options: Dividend Payout (w.e.f May 15, Syndicate Bank FITCH IND A1+ 1.73 Services Limited CRISIL A1+ 1.36
2017, Under Monthly Dividned option Oriental Bank of Commerce CRISIL A1+ 1.43 Sundaram BNP Paribas
only), Dividend Reinvestment & Growth Bank Of Baroda FITCH IND A1+ 1.38 Home Finance Ltd CRISIL A1+ 1.34
(applicable for all plans
Rural Electrification Sundaram Finance Ltd. CRISIL A1+ 1.33
Dividend Frequency
Corporation Ltd. CRISIL A1+ 1.38 Manappuram Finance Ltd. CRISIL A1+ 1.32
Daily, Weekly (Every Monday) and Monthly
(12th of every Month) Bank of India CRISIL A1+ 0.69 HSBC Invest Direct Financial
Ratios Public Sector Services (India) Ltd. CRISIL A1+ 0.69
$
Undertakings - Total 30.92 ICICI Bank Ltd. ICRA A1+ 0.68
Money Market Instruments Fullerton India
Modified Duration 0.41 yrs Commercial Paper(CP)/ Credit Co. Ltd. ICRA A1+ 0.55
Portfolio Yield 5.95% Certificate of Deposits(CD) Corporate Debt/Financial
Corporate Debt/ Institutions - Total 68.01
Source: $ ICRAMFI Explorer. Standard
Deviation is calculated on Annualised basis Financial Institutions Triparty Repo 1.09
using 3 years history of monthly returns. IndusInd Bank Ltd. CRISIL A1+ 12.35 Net Current Assets/
Minimum Investment Amount LIC Housing Finance Ltd. CRISIL A1+ 10.04 (Liabilities) -0.02
Initial Investment: `5000 Under growth, HDFC Ltd. CRISIL A1+ 8.95 Grand Total 100.00
weekly dividend and monthly dividend
HDB Financial Services Ltd. CRISIL A1+ 4.78
option & `1,00,000 under Daily Dividend
Reinvestment option,
of `1 ALLOCATION (%)
Ideal Investment Horizon: 1-15 days
Load Structure - 0.02 98.93 1.09
Exit Load: Nil (applicable for all plans)
Total Expense Ratio** Commercial Paper (CP)/Certificate of Deposits (CD) TREP & Term Deposits & Rev.Repo Net Current Assets
RATING PROFILE (%)
- 0.02 98.93 1.09
A1+, AAA, IND A1+ TREP & Term Deposits & Rev.Repo Net Current Assets
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Investors understand that their principal will be at low Moderately low risk
Investment in money market securities
Average Maturity of the portfolio based on Security's original maturity date: 0.41 years.
Kotak Money Market Fund NAV as on March 31, 2020: `3300.315 (Growth Option), `3313.08 (Direct Growth Option), `1012.403 (Weekly Dividend), `1022.068 (Direct Weekly Dividend), `1012.589 (Monthly Dividend),
`1012.124 (Direct Monthly Dividend), `1011.62 (Daily Dividend), `1011.62 (Direct Daily Dividend)
*For Fund Manager experience, please refer page 57-59. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 50-56. For last three dividends, please refer page no 60-62.
25
Maturity
KOTAK SAVINGS FUND Low
Medium
An open-ended ultra-short term debt scheme investing in instruments such that the High
macaulay duration of the portfolio is between 3 months and 6 months
Fund Manager: Mr. Deepak Agrawal*
PORTFOLIO
AAUM: `11,500.81 crs
AUM: `9,056.98 crs
Assets Assets
Benchmark: NIFTY Ultra Short
Duration Debt Index Debt Instruments U P Power Corporation Ltd
Allotment date: August 13, 2004 Debentures and Bonds ( Guaranteed By UP
Corporate Debt/ State Government ) FITCH IND AA(CE) 0.90
Folio count: 33,794
Financial Institutions Bank Of Baroda (AT1 bonds) CARE AA 0.26
Investment Objective Mahindra & Mahindra National Bank for Agriculture
The investment objective of the Scheme is Financial Services Ltd. FITCH IND AAA 3.87 & Rural Development CRISIL AAA 0.24
to generate returns through investments in Muthoot Finance Ltd. CRISIL AA 3.58 Public Sector
debt and money market instruments with a Bharti Telecom Ltd. CRISIL AA+ 3.32 Undertakings - Total 16.08
view to reduce the interest rate risk.
Reliance Industries Ltd. CRISIL AAA 3.27 Government
However, there is no assurance or
guarantee that the investment objective of Rent A Device Trust Dated Securities
the scheme will be achieved. ( Underlying customer 8.27% Central Government SOV 1.06
Reliance Retail ) ICRA AAA(SO) 2.57 5.15% Central Government SOV 0.16
Aditya Birla Finance Ltd. ICRA AAA 2.49 Government Dated
A) Regular Plan B) Direct Plan LIC Housing Finance Ltd. CRISIL AAA 2.45 Securities - Total 1.22
Options: Dividend Payout, Dividend Shriram Transport Money Market Instruments
Reinvestment & Growth (applicable for all Finance Co Ltd. FITCH IND AA+ 1.93
plans) Commercial Paper(CP)/
Reliance Jio Infocomm Ltd.
Certificate of Deposits(CD)
Dividend Frequency (Irrevocably and
Corporate Debt/
Daily, Monthly (12th of every Month) and unconditionally guaranteed
Weekly (Every Monday) Financial Institutions
by Reliance Industries) CRISIL AAA 1.62
IndusInd Bank Ltd. CRISIL A1+ 12.03
Ratios Nabha Power Ltd. ( backed
AXIS Bank Ltd. CRISIL A1+ 10.49
by unconditional and
$
Standard Deviation 0.54% LIC Housing Finance Ltd. CRISIL A1+ 6.65
irrevocable guarantee by
Larsen & Toubro Ltd ) ICRA AAA(CE) 1.40 HDFC Ltd. CRISIL A1+ 5.53
Modified Duration 0.49 yrs Bharti Telecom Ltd. CRISIL A1+ 2.14
ICICI Bank Ltd. (AT1 bonds) CARE AA+ 1.37
Portfolio Yield 6.41% Kotak Mahindra Bajaj Finance Ltd. CRISIL A1+ 1.09
Investments Ltd. CRISIL AAA 1.12 Reliance Industries Ltd. CRISIL A1+ 0.60
$
Source: ICRAMFI Explorer. Standard Corporate Debt/Financial
Deviation is calculated on Annualised basis Tata Capital Housing
Finance Ltd. CRISIL AAA 1.11 Institutions - Total 38.53
using 3 years history of monthly returns.
First Business Receivables Public Sector Undertakings
Minimum Investment Amount Small Industries Development
Trust ( Originator Reliance
Initial Investment: (i) Dividend Re-
Industries Ltd ) CRISIL AAA(SO) 1.03 Bank Of India CARE AAA 10.31
investment & Growth- `5000 & above (ii)
Dividend Payout (Weekly) - `1,00,00,000 & HDFC Ltd. CRISIL AAA 0.84 National Bank for Agriculture
above Tata Sons Private Ltd. CRISIL AAA 0.66 & Rural Development FITCH IND A1+ 3.25
Additional Investment: `1000 & in multiples ICICI Home Finance Oriental Bank of Commerce CRISIL A1+ 2.63
of `1 Company Limited CRISIL AAA 0.28 National Bank for Agriculture
Ideal Investment Horizon: 1-3 months Manappuram Finance Ltd. CRISIL AA 0.22 & Rural Development ICRA A1+ 1.42
Load Structure Reliable Devices Trust Syndicate Bank FITCH IND A1+ 0.22
Entry Load: Nil. (applicable for all plans) ( Underlying customer Public Sector
Exit Load: Nil (applicable for all plans) Reliance Retail ) ICRA AAA(SO) 0.15 Undertakings - Total 17.83
Total Expense Ratio** Corporate Debt/Financial Treasury Bills
Regular: 0.78%; Direct: 0.32% Institutions - Total 33.28 91 Days Treasury
Public Sector Bill 04/06/2020 SOV 0.01
Undertakings Treasury Bills - Total 0.01
Rural Electrification Triparty Repo 1.68
Corporation Ltd. CRISIL AAA 11.79 Net Current Assets/
Bank Of Baroda (AT1 bonds) ICRA AA 1.99 (Liabilities) -8.63
Power Finance Grand Total 100.00
Corporation Ltd. CRISIL AAA 0.90
ALLOCATION (%)
Data as on March 31, 2020 1.22
- 8.63 56.36 49.36 1.68
0.01
Product Label
Riskometer
Commercial Paper (CP)/Certificate of Deposits (CD) Debentures and Bonds TREP & Term Deposits & Rev.Repo
Moderate Mo
t el y d Government Dated Securities Treasury Bills Net Current Assets
era Higerat
odLow h e
M
ly
RATING PROFILE (%)

Low
High
- 8.63 93.38 13.57 1.68

LOW HIGH
Investors understand that their principal will be at low Moderately low risk
Income over a short term investment horizon A1+, AAA, AAA(CE), AAA(SO), IND A1+, IND AAA, SOV AA+, IND AA+, AA, IND AA(CE)
Investment in debt & money market securities with
portfolio Macaulay duration between 3 months & 6 TREP & Term Deposits & Rev.Repo Net Current Assets
months
(^) Fully or Party blocked against Interest Rate Swap (IRS) Hedging Position through Interest Rate Swaps as on 29 Feb 2020 is 0.02% of the net assets.
Kotak Savings Fund NAV as on March 31, 2020: `10.0798 (Daily Dividend Option), `10.1395 (Daily Dividend - Direct), `32.0935 (Growth Option), `10.4356 (Monthly Dividend Option), `10.195 (Weekly Dividend Option),
`14.8561 (Monthly Dividend - Direct), `10.195 (Weekly Dividend - Direct), `32.8537 (Growth - Direct Option)
26
Maturity
KOTAK LOW DURATION FUND Low
Medium
An open ended low duration debt scheme investing in instruments such that High
the Macaulay duration of the portfolio is between 6 months and 12 months

AAUM: `6,680.04 crs
Benchmark: NIFTY Low Duration
Debt Instruments Jamnagar Utilities & Power
Debt Index
Debentures and Bonds Private Limited
Allotment date: March 6, 2008
Folio count: 73,248 Corporate Debt/ ( Mukesh Ambani Group ) CRISIL AAA 0.18
Financial Institutions Sikka Ports & Terminals Ltd.
HDFC Ltd. CRISIL AAA 6.23 ( Mukesh Ambani Group ) CRISIL AAA 0.09
The primary objective of the Scheme is to
generate income through investment Reliance Jio Infocomm Ltd. CRISIL AAA 4.63 Corporate Debt/Financial
primarily in low duration debt & money LIC Housing Finance Ltd. CRISIL AAA 4.04 Institutions - Total 52.53
market securities. There is no assurance or
guarantee that the investment objective of ECL Finance Ltd. CRISIL AA- 3.37 Public Sector
the scheme will be achieved. Manappuram Finance Ltd. CRISIL AA 3.26 Undertakings
Available Plans/Options Reliable Devices Trust ( Underlying U P Power Corporation Ltd
A) Regular B) Direct Plan customer Reliance Retail ) ICRA AAA(SO) 3.12 ( Guaranteed By UP
Options: Dividend Payout, Dividend.......... Coastal Gujarat Power Ltd. State Government ) FITCH IND AA(CE) 7.13
Reinvestment & Growth (dividend payout ( Guarenteed by TATA Rural Electrification
is available under monthly dividend only)
(applicable for all plans) Power Co. Ltd ) (^) CARE AA(CE) 3.09 Corporation Ltd. CRISIL AAA 6.12
Mobil Trust Series-07 Ptc Power Finance Corporation Ltd. CRISIL AAA 5.66
Dividend Frequency
Weekly (every Monday), Monthly (12th of 20-06-2022 - (B) (Mobil Syndicate Bank (AT1 bonds) CARE A+ 3.86
every month) Trust Series - 07) CRISIL AAA(SO) 2.84 Small Industries Development
Ratios Tata Steel Ltd. CARE AA- 2.77 Bank Of India CARE AAA 1.52
$
Standard Deviation 1.02% Rent A Device Trust ( Underlying U P Power Corporation Ltd
customer Reliance Retail ) ICRA AAA(SO) 2.11 ( Guaranteed By UP
Avendus Finance Pvt Ltd. CRISIL A+ 1.82 State Government ) CRISIL A+(CE) 1.29
Portfolio Yield 8.06% L & T Infrastructure Finance Punjab & Sind Bank (AT1 bonds) ICRA A+ 1.26
$ Company Ltd. CRISIL AAA 1.82 Andhra Bank (AT1 bonds) CARE A+ 0.77
Source: ICRAMFI Explorer. Standard
Deviation is calculated on Annualised basis Nabha Power Ltd. ( backed by PNB Housing Finance Ltd. FITCH IND AA 0.59
using 3 years history of monthly returns. unconditional and irrevocable Public Sector
Minimum Investment Amount guarantee by Larsen & Undertakings - Total 28.20
Toubro Ltd ) ICRA AAA(CE) 1.82 Money Market Instruments
Additional Investment: `1000 & in multiples Indostar Capital Finance Limited ( ) CARE AA- 1.76 Commercial Paper(CP)/
of `1 for purchase and for `0.01 for Muthoot Finance Ltd. CRISIL AA 1.44 Certificate of Deposits(CD)
switches.
First Business Receivables Trust Corporate Debt/
Ideal Investment Horizon: 1-3 months
( Originator Reliance Financial Institutions
Load Structure
Entry Load: Nil. Industries Ltd ) CRISIL AAA(SO) 1.38 IndusInd Bank Ltd. CRISIL A1+ 9.45
Exit Load: Nil. Sundaram BNP Paribas AXIS Bank Ltd. CRISIL A1+ 4.52
Any exit load charged (net off Service Tax, if
Home Finance Ltd ICRA AA+ 1.37 Godrej Properties Limited CRISIL A1+ 1.32
any) shall be credited back to the Scheme;
Embassy Office Parks Reit CRISIL AAA 0.99 ICICI Bank Ltd. ICRA A1+ 0.98
Regular: 1.07%; Direct: 0.31% Bharti Telecom Ltd. CRISIL AA+ 0.91 JM Financial Products Limited ICRA A1+ 0.63
Bahadur Chand Investments Corporate Debt/Financial
Private Limited ICRA AA 0.90 Institutions - Total 16.90
Phoenix ARC Pvt Ltd CRISIL AA 0.90 Public Sector
Mobil Trust Series-08 Ptc Undertakings
20-06-2022 (A)(Mobil
Oriental Bank of Commerce CRISIL A1+ 3.89
Trust Series - 08) CRISIL AAA(SO) 0.69
Public Sector
Reliance Jio Infocomm Ltd.
Undertakings - Total 3.89
( Irrevocably and unconditionally
Triparty Repo 0.06
Data as on March 31, 2020 guaranteed by Reliance Industries ) CRISIL AAA 0.46
Net Current Assets/
Aditya Birla Finance Ltd. ICRA AAA 0.27
Product Label (Liabilities)^^ -1.58
Shriram Transport
Riskometer Grand Total 100.00
Finance Co Ltd. CRISIL AA+ 0.27
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
^^Includes Securities Below Investment grade or Default

Value Recognised in % to Total Security Value
Low
High
ISIN Name of the Security

NAV(Rs. In Lacs) Net Assets (Rs. In Lacs)
LOW HIGH 9.10% Dewan Housing Fin Co.Ltd.
INE202B07IK1 400.15 0.07 1,636.50
Investors understand that their principal will be at moderate risk (Tranche I Series IB)-09/09/2019 (L)
This product is suitable for investors who are seeking*: 9.10% Dewan Housing Fin Co.Ltd.
INE202B07HQ0 317.80 0.06 1,091.00
Regular Income over short term - (Tranche - I Series IVA)-16/08/2019 (L)
Income by focussing on low duration securities with
portfolio Macaulay duration between 6 months and 09.05% Dewan Housing Fin Co.Ltd.
INE202B07IJ3 400.01 0.07 1635.75
12 months - ( Tranche I Series IA)-09/09/2019 (L)
about whether the product is suitable for them. Total - 1,117.96 0.19 4,363.25
27
KOTAK LOW DURATION FUND
An open ended low duration debt scheme investing in instruments such that the Macaulay duration of the portfolio is between 6 months and 12 months
ALLOCATION (%)
- 1.58 80.73 20.79 0.06
Debentures and Bonds Commercial Paper (CP)/Certificate of Deposits (CD)

RATING PROFILE (%)

- 1.58 64.76 27.76 9.00 0.06
A1+, AAA, AAA(CE), AAA(SO) AA+, AA, AA(CE), IND AA, IND AA(CE), AA- A+, A+(CE)

Total Value as on Mar 31, 2020 (`) 24,26,462 18,37,925 11,18,758 7,30,307 4,04,543 1,24,869
Scheme Returns (%) 8.17 8.26 8.06 7.80 7.73 7.63
Nifty Low Duration Debt Index Returns (%) 8.22 8.16 7.85 7.62 7.70 7.42
Alpha -0.05 0.10 0.21 0.18 0.03 0.21
Nifty Low Duration Debt Index (`)# 24,18,907 18,15,830 11,03,374 7,22,566 4,01,865 1,24,037
CRISIL 1 Year T-Bill Index (`)^ 22,48,494 17,39,008 10,85,911 7,18,007 4,02,642 1,24,888
CRISIL 1 Year T-Bill Index Returns (%) 6.99 7.21 7.22 7.12 7.41 7.66
Scheme Inception : - March 06, 2008. 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
inception. # Benchmark ; ^ Additional Benchmark.
(^) Fully or Party blocked against Interest Rate Swap (IRS) Hedging Position through Interest Rate Swaps as on 31 Mar 2020 is 2.64% of the net assets.
Kotak Low Duration Fund NAV as on March 31, 2020: `2464.364 (Regular Plan-Growth Option), `1015.305 (Regular Plan-Weekly Dividend), `1027.598 (Regular Plan-Monthly Dividend), `2581.243 (Direct Plan- Growth
Option), `1199.9 (Direct Plan- Weekly Dividend), `1113.068 (Direct Plan- Monthly Dividend)
28
Maturity
KOTAK FLOATING RATE FUND Low
Medium
An open ended debt scheme predominantly investing in floating rate instruments. High

AAUM: `82.41 crs
Benchmark: NIFTY Ultra Short
Duration Debt Index TRI Debt Instruments National Bank for Agriculture
Allotment date: May 14, 2019 Debentures and Bonds & Rural Development(^) CRISIL AAA 10.26
Folio count: 232 Corporate Debt/ Power Finance
Financial Institutions Corporation Ltd.(^) CRISIL AAA 3.97
Investment Objective Coastal Gujarat Power Ltd. Bank Of Baroda FITCH AAA(IND) 3.75
The primary objective of the Scheme is to ( Guarenteed by TATA State Bank Of India. (AT1 bonds) CRISIL AA+ 2.44
generate income through investment
Power Co. Ltd ) (^) CARE AA(CE) 10.34 Public Sector
primarily in floating rate debt instruments,
fixed rate debt instruments swapped for Reliance Jio Infocomm Ltd.(^) CRISIL AAA 9.27 Undertakings - Total 20.42
floating rate returns and money market LIC Housing Finance Ltd.(^) CRISIL AAA 8.98 Government
instruments. However, there is no assurance Jamnagar Utilities & Power Dated Securities
or guarantee that the investment objective
Private Limited 5.15% Central Government SOV 32.56
of the scheme will be achieved
( Mukesh Ambani Group ) CRISIL AAA 3.84 5.18% Central Government SOV 4.80
Available Plans/Options ICICI Bank Ltd. (AT1 bonds) CRISIL AA+ 3.73 Government Dated
A) Regular B) Direct Plan HDB Financial Services Ltd. CRISIL AAA 1.21 Securities - Total 37.36
Options: Growth, Dividend Payout and Corporate Debt/Financial Net Current Assets/
Dividend Reinvestment. Institutions - Total 37.37 (Liabilities) 4.85
Dividend Frequency Public Sector Undertakings Grand Total 100.00
Weekly Dividend Option-Every Monday
Monthly Dividend Option-12th of every
month ALLOCATION (%)
Ratios
57.79 37.36 4.85
Portfolio Yield 6.53% Debentures and Bonds Government Dated Securities Net Current Assets
Source: $ KMIS & ICRAMFI Explorer.

Standard Deviation is calculated on RATING PROFILE (%)
Annualised basis using 3 years history of
monthly returns.
Minimum Investment Amount 78.64 16.51 4.85
Initial Purchase: `5000 and in multiple of `1
for purchase and for `0.01 for switches
Additional Purchase: `1000 & in multiples AAA, AAA(IND), SOV AA+, AA(CE) Net Current Assets
of `1 for purchase and for `0.01 for
switches.
Load Structure
Entry Load: Nil (Applicable for All Plans)
Exit Load: Nil (Applicable for All Plans)

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Investment in debt & money market securities having
maturity of one business day
Kotak Floating Rate Fund NAV as on March 31, 2020: `1062.897 (Growth Option), `1013.548 (Weekly Dividend), `1034.544 (Dividend Option), `1065.279 (Direct Growth Option),`1019.173 (Direct dividend)
29
Equity Funds Ready Reckoner
AUM
Mcap (%) / Total Expense
Investment Product Fund (Rs. Crs) Standard 5 years
Scheme Name Key Features Benchmark st Asset Allocation Overweight Underweight Beta Sharpe Ratio
Theme Positioning Manager as on 31 Deviation Alpha
Mar 2020 (%) (%) (%) (TER %)^
a. Favours industry leaders in cost, innovation, brand, competence, etc. 82.15 1. Cement & Cement Products 1. Consumer Goods
Kotak Bluechip Invest with Mr. Harish 14.16
Large cap with a proven execution track record across cycles Nifty 50 TRI 1,176.34 2. Industrial Manufacturing 2. Financial Services 0.97 -0.29 18.41 -0.42 2.15
Fund industry leaders Krishnan 1.96
b. High conviction and long term calls taken 3. Services 3. Information Technology
1.73
75.62
a. Focus on sustainable large cap stories which can withstand market shocks 1. Cement & Cement Products 1. Consumer Goods
Kotak India Contra/Value Long term Ms. Shibani 21.94
b. These are companies with pricing power for their competitive advantage Nifty 100 TRI 631.28 2. Industrial Manufacturing 2. Financial Services 1.02 -0.20 19.21 -0.07 2.24
EQ Contra Fund Fund wealth creators Kurian 0.85
or entry barriers 3. Energy 3. Information Technology
1.59
46.90
Large and 1. Industrial Manufacturing 1. Financial Services
Kotak Equity Spotting the Mr. Harsha 41.42
Identifies investment opportunities across market capitalisation and sectors Nifty 200 TRI 2,576.20 2. Cement & Cement Products 2. Consumer Goods 0.97 -0.27 18.92 1.45 1.84
Opportunities Fund Midcap hidden gems Upadhyaya 4.45
3. Textiles 3. Information Technology
7.23
a. Invests in a few sectors as the various sectors of the economy tend to 70.61
1. Cement & Cement Products 1. Consumer Goods
Kotak Standard Focus on few perform differently at different points of time Mr. Harsha 21.21
Multi Cap Nifty 200 TRI 22,862.86 2. Industrial Manufacturing 2. Information Technology 0.99 -0.26 19.10 2.01 1.52
Multicap Fund selected sectors b. Flexibility to move across market caps depending on their Upadhyaya 1.34
3. Textiles 3. Financial Services
attractiveness during the economic phase 6.84
Tax advantage a. Portfolio is diversified across sectors and market capitalization 57.13
Mr. Harsha 1. Industrial Manufacturing 1. Financial Services
Kotak Tax Saver with potential segments Nifty 500 TRI 905.59 28.60
ELSS Upadhyaya 2. Cement & Cement Products 2. Information Technology 0.97 -0.29 19.21 0.60 2.55
Fund equity growth b. Offers dual benefits of growth and tax savings 8.40
3. Textiles 3. Consumer Goods
5.87
a. Stands for winning investment ideas across the mid & small cap range
offering decent growth trajectory over the medium to long term horizon 11.47
Nifty 1. Industrial Manufacturing 1. Consumer Goods
Kotak Emerging b. Buy and hold strategy Mr. Pankaj 71.65
Mid Cap Emerging leaders Midcap 100 5,122.07 2. Fertilisers & Pesticides 2. Financial Services 0.86 -0.36 22.12 3.73 2.15
Equity Fund c. Riskier than a large cap fund but offers faster growth rate since it has Tibrewal 14.39
TRI 3. Chemicals 3. Information Technology
a smaller base 2.49
d. 0%-35% allocation to large cap or small cap opportunities as tactical plays
a. Identifies the hidden growth potential of small cap sized companies Nifty 3.87
Spot them young, b. Portfolio exhibits higher volatility than large caps and Midcaps however Mr. Pankaj 1. Consumer Goods 1. Financial Services
Kotak Small Cap Small Cap Smallcap 100 27.20
watch them grow Tibrewal 1,168.81 2. Industrial Manufacturing 2. Information Technology 0.76 -0.45 24.21 8.08 1.91
Fund tends to have a higher return potential in the long run TRI 67.42
c. Buy and hold strategy 3. Services 3. Media & Entertainment
1.51
India
a. Identifies ""flow related"" companies - These benefit from spending from
Kotak Infrastructure 31.96
government, private and household (in terms of properties). 1. Industrial Manufacturing 1. Telecom
Infrastructure Thematic: Mr. Harish Index 41.52
True to label They are not asset owners. 211.78 2. Construction 2. Financial Services 1.03 -0.55 23.70 3.44 2.48
& Economic Infrastructure Krishnan (Customised 25.52
b. Focus on high quality companies exhibiting superior ROE, positive cash 3. Chemicals 3. Energy
Reform Fund Index 1.00
flow, low leverage in an otherwise challenging environment
by IISL)
a. Equity portion: Multi cap strategy to identify outstanding companies having Mr. Pankaj Nifty 50
Best of both Tibrewal Hybrid 65.40 1. Industrial Manufacturing 1. Consumer Goods
Kotak Equity Aggresive well managed and durable businesses with predictable earnings power
2. Construction 2. Information Technology
worlds: equity & Composite 1,077.26 24.80 1.28 -0.41 16.40 -2.62 2.18
Hybrid Fund Hybrid b. Debt portion: Actively managed with medium to long term maturity 3. Energy
& debt Mr. Abhishek Debt 9.81 3. Cement & Cement Products
c. Lower volatility than a pure equity or debt fund
Bisen 65:35 Index
a. Discovers arbitrage opportunities by simultaneously entering transactions Nifty 50
Kotak Equity Equity Arbitrage
of long position in cash and exactly off-setting short position in futures Mr.Hiten Shah Arbitrage 10,545.92 N/A N/A N/A 0.49 2.37 0.51 0.67 0.98
Arbitrage Fund Arbitrage opportunities b. Equity position is completely hedged Index
75% of
Conservative portfolio with a blend of: Net Equity 44.12
Nifty 50
Kotak Equity Equity a. Income generation - through arbitrage opportunities & debt investment. 1,448.10 1.40 -0.22 6.85 -0.26 2.14
Mr. Abhishek Arbitrage Arbitrage 21.09 N/A N/A
Savings Fund Savings b. Growth potential - through moderate participation in equity markets
Bisen, Index + 25%
c. Tax efficiency - through equity orientation Debt & Cash 34.79
Mr. Harish of Nifty 50
Conservative portfolio with a blend of: Krishnan
a. A fund that gives you freedom from managing equity and debt allocation & Nifty 50 Net Equity 76.47
Kotak Balanced Balanced
manually during market ups and downs, giving you a balanced growth.
Mr.Hiten Hybrid
Takes care of
Advantage
b. Emphasis on back tested P/E* based model Composite 3,251.91 Arbitrage 8.37 N/A N/A N/A N/A N/A N/A 1.72
Advantage Fund Asset Allocation d. Better volatility management Shah
Debt 50:50
e. Better tax efficiency by leveraging arbitrage opportunities Debt & Cash 15.16
Index
f. Immunity from market timing to ensure disciplined investing
Conservative portfolio with a blend of: 85% IISL Kotak
a. 80-100% in pioneering innovations theme Upto 20% in other than pioneering India Pioneering 46.36 1. Industrial Manufacturing 1. Financial Services
Kotak Pioneer Sectoral - innovations theme Focus on growth oriented / High impact companies Innovations +15% 2. Information Technology N/A
It's Future Ready Mr. Harish MSCI ACWI 525.19 22.64 2. Pharma N/A N/A N/A 2.13
Fund Thematic b. Upto 35% may be invested in overseas funds/etfs/securities investing 3. Consumer Goods
Krishnan Information 7.43 3. Services
in similar theme access to global techs Technology Index
c. The fund is from the Kotak Mutual Fund stable and has structured investment processes TRI
a. Concentrated Portfolio:
25-30 high growth and good quality businesses with sustainable and scalable Mr. Harish 67.47 0.77
Performance earnings potential over the long term Krishnan 1. Textiles 1. Consumer Goods
Kotak Focused b. Leveraging On Research Capabilities 26.13 2. Information Technology N/A
Focused Through Core & Nifty 200 TRI 1,291.87 2. Cement & Cement Products N/A N/A N/A 2.08
Equity Fund Stock picking through the BMV model- Business, Management and Valuation 1.27 3. Automobile
Conviction c. Suitable For Long Term Investors Ms. Shibani 3. Construction
5.12
Those looking to benefit from the structural growth opportunity in Indian equities Kurian
d. Bottom Up Approach To Stock Picking : With a top down thematic overlay.
Details provided are as on March 31st, 2020. Ratio Source: ICRA MFI Explorer. Risk free rate assumed to be 4.81%. 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 LARGECAP MIDCAP
N/A: Field not applicable to the scheme owing to its investment theme.
SMALLCAP DEBT + CASH
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.
(TER %)^
Expense
Name of the Scheme This product is suitable for investors who are seeking* Riskometer
Ratio
Total
1.08
1.45
0.78
0.26
0.15
1.07
0.60
1.75
1.13
1.74
0.25
0.63
1.42
0.61
Equity Scheme
* 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.
investment amt within 18 months: Nil,
redemption Proceed
Exit Load as a % of
Riskometer
Riskometer
investment amt within 1 yr: Nil,

withdrawal within 1 year : 1%,
Moderate MM
> above limit of withdrawal

Moderate
ely odod
0.0070%
0.0065%
0.0060%
0.0055%
0.0050%
0.0045%
0.0000%
ly
a t te
HHi igeehrraatetly
erra
Withdrawal up to 10% of
Withdrawal up to 15% of
ode w gh el
od LLoow
within 18 months : 2%,

M y
M
After 18 months : Nil.
*Within 3 months: 0.20%

Kotak Equity Income from arbitrage opportunities in the equity market
After 1 year : Nil.

> above limit of
After 3 months: NIL

LLooww
HHigig
Arbitrage Fund Investment in arbitrage opportunities in the cash & derivatives segment of the equity market.
Exit Load
h
h
Note: ^UST = Ultra Short Term plan, ^^STP= Short Term plan. **AAA also includes A1+,A1+(SO), AAA(SO), IND AAA , Net current Assets, CBLO, Term Deposit and Rev repo. For Kotak Gilt Fund: Cash and Cash
Low High
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Nil
Investors understand
Investors understandthat their
that their principal
principal will bewill
at be at
Moderately low
Moderately low riskrisk
Investor Exit Upon

Kotak Bluechip Fund Long term capital growth
subscription*
Day 7 onwards
Kotak Bluechip Investment in portfolio of predominantly equity & equity related securities
Day 1
Day 2
Day 3
Day 4
Day 5
Day 6
Kotak Small Cap Fund Investment in equity & equity related securities predominantly in mid cap stocks
Kotak Equity Opportunities Long term capital growth

Investment in portfolio of predominantly equity & equity related securities
Fund
Kotak India EQ Contra Fund Riskometer
Average Modified Macaulay

YTM % Maturity Duration Duration
Investment in portfolio of predominantly equity & equity related securities
(years)
Riskometer
Long term capital growth with a 3 year lock in Moderate M
Kotak Tax Saver Fund ely
2.87
od
0.15
0.41
5.85
2.14
3.42
4.66
0.51
2.41
0.01
5.78
1.03
1.46
2.53
Investment in portfolio of predominantly equity & equity related securities at Moderate M e
Hi rate
er rately od
e
gh l
od odw
e Hig rate y
M MLo Low
For Liquid schemes ( Kotak Liquid Scheme and Kotak Floater Short Term ) and Liquid plus schemes (Kotak Treasury Advantage and Kotak Low Duration) T-bill is included in AAA.
h ly
Kotak Emerging Long
Long term
term capital
capital growth
growth with a 3 year lock in
Kotak Tax
Equity Saver
Fund Investment
Investment in
in equity & equity
portfolio related securities
of predominantly equitypredominantly in securities
& equity related mid & small cap companies.
Low
Hig
Hig
Low
h
Kotak Standard
Kotak EmergingMulticap Long
Long term
term capital
capital growth
growth
(years)
0.15
Low High
Investment
Investment in in portfolio of predominantly
equity & equity equitypredominantly
related securities & equity relatedin securities
mid & smallgenerally focused
cap companies.
Equity Scheme
0.49
2.27
2.70
5.58
3.18
1.99
4.42
0.41
5.60
0.01
0.97
2.38
1.37
High
Fund on a few selected sectors
Low Investors understand that their principal will be at
Moderately
Investors understand that High
theirriskprincipal will be at
Long term capital growth Moderately High risk
Kotak
Kotak Equity Hybrid
Standard Fund
Multicap Investment in equity & equity
portfolio related securities
of predominantly equitybalanced
& equity with income
related generation
securities by investing
generally focused
Debt Funds Ready Reckoner

in debt
on a few& selected
money market
sectorsinstruments
Long term
Income capital
from growth
arbitrage opportunities in the equity market & long term capital growth
(years)
Kotak Equity Savings Fund
Hybrid Fund Investment predominantly
in arbitrage balanced
opportunities in thewith
cashincome generation
& derivatives by investing
segment of the
1.60
0.16
0.01
8.13
4.41
0.41
2.75
9.32
6.20
3.00
2.65
1.20
3.62
0.52
in debtmarket
equity & money andmarket
equityinstruments
& equity related securities
Income creation
Wealth from arbitrage
over a opportunities
long period ofintime
the equity market & long term capital growth
Kotak Balanced Advantage
Kotak Equity Savings Fund Investment in
Investment predominantly
equity, equityinrelated
arbitrage opportunities
securities & debt, in the cash
money & derivatives
market segment
instruments of the
while managing risk
Fund equity market
through active and equity & equity related securities
allocation.
Kotak Focused Equity Fund
6.41
7.04
7.32
4.37
6.79
8.06
6.54
0.93
6.49
6.53
6.00
8.76
5.95
8.78
Investment in equity & equity related securities across market capitalisation in maximum 30 stocks
Riskometer
Moderate M
ely od
er
ly Moderate Mod High ately
at
Kotak
Kotak Infrastructure
Infrastructure &
& Long term capital growth
Long term capital growth ra
M te
er
od ow
L e
Hig rate
Long term capital appreciation by investing in equity and equity related instruments of e
od Low
Economic Reform Fund h ly
strategy, no cap on duration

Macaulay duration 4-7 years

Long term capital appreciation by investing in equity and equity related instruments of
Predominantly High quality
investment across duration
(1-7 years when defensive)

(1-4 years when defensive)
M
Average Maturity - Within

Economic Reform Fund companies contributing to infrastructure and economic development of India
80-100% corporate bond

companies contributing to infrastructure and economic development of India
Minimum 65% in below
Gilt Fund with Dynamic

Key Differentiator
Hig
Low
Hig
Banking & PSU assets

Low
h
Kotak Pioneer Fund Long term capital growth
Dynamic strategy -
exposure in AA+ &
Macaulay duration
Macaulay duration
Maturity < 91 days
One Day Maturity

h
Maturity < 1 year
AA+ instruments
Investment in equity and equity related Securities of companies operating with Pioneering innovations Low High
above assets
6-12 months
Low High
theme Without any market Capitalisation and Sector bias
3-6 months
10-30 days
Investors understand that their principal will be at
Investors understandHigh
that risk
their principal will be at
High risk
Debt Scheme
Kotak Money Market Income over a short term investment horizon
Scheme
Fund Investment in money market securities

Kotak Savings Fund
Current Scheme crores) as on Current Portfolio Ideal Investment
15 days to 3 months
Investment in debt & money market securities with portfolio Macaulay duration between
2 Years and above
1 Year and above

1 Year and above
1 Year and above
1 Year and above

3 months and 6 months
1-15 days
Riskometer
1-3 Months
1-3 Months
1-3 Months
and above
and above
and above
Horizon
6 Months
6 Months
6 Months
Income over a medium term investment horizon Moderate M
y
1 day
el
Riskometer
Kotak Bond Short Term Investment in debt & money market securities with portfolio Macaulay duration between at
od
e
1 year and 3 years er Hi rate
od Low tely gh ly
Moderate M
od
M er
a e
Hig rate
od w h ly
M Lo
Income over a medium term investment horizon
Kotak Dynamic Bond Fund Investment in debt & money market securities across duration
Low
Hig
Hig
Low
Regular Income over short term

Kotak Corporate
h
h
Income by investing in fixed income securities of varying maturities and predominantly
Bond Fund in AA+ and above rated corporate bonds Low High
11.18% Below AA+
69.14% Below AA+
46.36% Below AA+
11.17% Below AA+

1.75% Below AA+
10.34% Below AA+
6.96% Below AA+
34.21% Below AA+

Low High
86.42% AAA,
83.49% AAA
41.24% AAA
63.98% AAA
29.32% AAA
50.44% AAA
92.71% AAA
36.55% AAA
75.80% AAA
14.59% AA+
10.72% AA+
Quality**
42.41% Gilt
14.12% Gilt
50.87% Gilt
24.20% Gilt
moderately low risk
6.62% AA+
1.54% AA+
2.60% AA+
1.41% AA+
63.24% AAA
100% AAA
100% AAA
100% Gilt
100% Gilt
6.17%AA+
0.60% Gilt
2.55% AA+
7.29 Gilt
Kotak Credit Risk Fund Investment predominantly in AA and below rated corporate bonds Investors understand that their principal will be at
moderately low risk
(Excluding AA+ rated corporate bonds )
Income over a short to medium term investment horizon
Kotak Banking and Investment in debt & money market securities of PSUs, Banks, Public Financial Institutions,
PSU Debt Fund Government Securities & Municipal Bonds
Kotak Income over a short term investment horizon.

Kotak Floating
Floating Rate
Rate Fund Investment in floating & fixed rate debt instruments swapped for floating rate returns and
money market instruments.
31st Mar 2020

Riskometer
Riskometer
AUM (Rs
23,623.14
Moderate
9,056.98
1,429.90
9,513.58
4,498.59
7,075.79
1,013.40
4,804.21
4,745.11
2,907.63
6,433.95
5,512.02
Income over a short term investment horizon M
Kotak Mahindra Liquid ely od
441.34
81.26
at
Moderate e
Kotak
SchemeLiquid Fund
M
odH ra
Investment in debt & money market securities er t
od ow Hig riagteh ely
e
M L h ly
Low
Hig
Hig
Low
Kotak Overnight
Overnight Fund
Fund Income over a short term investment horizon
Kotak Investment in debt & money market securities having maturity of one business day.
Ultra Short Duration

Low High
(Accrual Strategy)
High
Details provided are as on March 31st, 2020.

Low
Banking and PSU
Medium to Long
Corporate Bond
Short Duration
Money Market
Positioning
Medium Term
Floating Rate
Low Duration
Investors understand low
thatrisk
their principal will be at
low risk
Credit Risk
Overnight
Liquid
^ Total Expense Ratio is of Regular Plan

Duration
Dynamic
Riskometer
Kotak Low Duration Fund Regular Income over short term
Gilt
Income by focusing on low duration securities with portfolio Macaulay duration between Moderate M
Duration 6 months and 12 months ely od
Equivalent is included under Gilt.

at e
Hi rate
er
od Low gh ly
M Moderate M
Income over a medium term investment horizon ely od
Kotak Medium Investment in debt, government securities & money market instruments M
er
od ow
L
at e
Hig rate
h ly
Term Fund with portfolio Macaulay duration between 3 years and 4 years
Low
Hig
Kotak Overnight Fund

Hig
Low
Kotak Credit Risk Fund

h
Income over a long investment horizon

Scheme Name
Kotak Money Market
Kotak Dynamic Bond

Kotak
Kotak Bond
Kotak Liquid Fund
Bond Fund
Kotak Low Duration
Kotak Floating Rate

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

Low Low High
4 years and 7 years High
Kotak Bond Short
Kotak Bond Fund

Kotak Banking &
Kotak Corporate
Kotak Gilt Fund

PSU Debt Fund
Kotak Medium
moderate
Investors understand riskprincipal will be at
that their
Kotak Mahindra Gilt Income over a long investment horizon moderate risk
Unit Scheme
Kotak 98 -
Gilt Fund Investments in sovereign securities issued by the Central and/or
Bond Fund
Term Fund
Term Fund
State Government(s) and / or reverse repos in such securities.
Investment plan
Fund
Fund
Fund
Fund
Maturity
KOTAK CORPORATE BOND FUND Low
Medium
An open-ended debt scheme predominantly investing in AA+ and above rated corporate bonds High

AAUM: `4,651.09 crs
Benchmark: CRISIL Corporate
Debt Instruments Small Industries Development
Bond Composite
Index Debentures and Bonds Bank Of India CARE AAA 3.62
Allotment date: September 21, 2007 Corporate Debt/ Food Corporation of India CRISIL AAA(CE) 2.37
Financial Institutions State Bank Of India.(^) CRISIL AAA 0.60
Folio count: 28,286
HDFC Ltd.(^) CRISIL AAA 10.91 Indian Railway Finance
Investment Objective Nabha Power Ltd. (backed by Corporation Ltd.(^) CRISIL AAA 0.36
The investment objective of the scheme is to unconditional and irrevocable Small Industries Development
generate income by investing in debt /and
guarantee by Larsen & Toubro Ltd) ICRA AAA(CE) 6.48 Bank Of India ICRA AAA 0.34
money market securities across the yield
curve and predominantly in AA+ and above Reliance Industries Ltd. CRISIL AAA 5.47 Powergrid Vizag Transminssion
rated corporate securities. The scheme HDB Financial Services Ltd. CRISIL AAA 5.26 Ltd. ( backed by unconditional
would also seek to maintain reasonable Bajaj Finance Ltd. CRISIL AAA 4.05 and irrevocable guarantee
liquidity within the fund. There is no Reliance Jio Infocomm Ltd. CRISIL AAA 3.97 by Powergrid Corp ) CRISIL AAA 0.16
assurance or guarantee that the investment Rural Electrification
LIC Housing Finance Ltd.(^) CRISIL AAA 3.91
objective of the scheme will be achieved.
LIC Housing Finance Ltd. CARE AAA 2.27 Corporation Ltd. FITCH IND AAA 0.05
Available Plans/Options L & T Infrastructure Public Sector
Finance Company Ltd. CRISIL AAA 2.23 Undertakings - Total 29.60
Options: Dividend Payout, Dividend......... Mahindra & Mahindra Government
Financial Services Ltd. FITCH IND AAA 1.22 Dated Securities
plans)
First Business Receivables Trust 7.32% Central Government SOV 4.12
Dividend Frequency ( Originator Reliance 7.27% Central Government(^) SOV 3.03
Monthly (12th of every Month)
Industries Ltd ) CRISIL AAA(SO) 1.15 8.45% State
Ratios ICICI Bank Ltd.(^) ICRA AAA 1.11 Government-Punjab SOV 0.15
$
Standard Deviation 1.32% Reliance Jio Infocomm Ltd. Government Dated
(Irrevocably and unconditionally Securities - Total 7.30
Modified Duration 1.37 yrs guaranteed by Reliance Industries) CRISIL AAA 0.90 Money Market Instruments
Jamnagar Utilities & Power Commercial Paper(CP)/
Private Limited Certificate of Deposits(CD)
Source: $ ICRAMFI Explorer. Standard ( Mukesh Ambani Group ) CRISIL AAA 0.87 Corporate Debt/
Deviation is calculated on Annualised basis L & T Housing Finance Ltd. CARE AAA 0.53 Financial Institutions
using 3 years history of monthly returns. Tata Sons Private Ltd. CRISIL AAA 0.29 AXIS Bank Ltd. CRISIL A1+ 7.08
Minimum Investment Amount Bhopal Dhule Transmission AXIS Bank Ltd. ICRA A1+ 2.16
Initial Investment: `5000 and in multiple of Company Ltd. ( Operational LIC Housing Finance Ltd. CRISIL A1+ 0.54
`1 for purchase and for `0.01 for switches power transmission project ) CRISIL AAA 0.09 Corporate Debt/Financial
Additional Investment: `1000 & in multiples Bajaj Finance Ltd. FITCH IND AAA 0.06 Institutions - Total 9.78
of `1for purchase and for `0.01 for
Grasim Industries Ltd. CRISIL AAA 0.02 Public Sector
switches.
Ideal Investment Horizon: 1 Year & Above Corporate Debt/Financial Undertakings
Institutions - Total 50.79 Oriental Bank of Commerce CRISIL A1+ 1.51
Load Structure
Entry Load: Nil. (applicable for all plans) Public Sector Small Industries Development
Exit Load: Nil. (applicable for all plans) Undertakings Bank Of India CARE AAA 0.55
Rural Electrification Public Sector
Regular: 0.60%; Direct: 0.31% Corporation Ltd. CRISIL AAA 9.17 Undertakings - Total 2.06
Power Finance Triparty Repo 2.48
Corporation Ltd.(^) CRISIL AAA 8.12 Net Current Assets/
National Bank for Agriculture (Liabilities) -2.01
& Rural Development CRISIL AAA 4.81 Grand Total 100.00
ALLOCATION (%)
- 2.01 80.39 11.84 7.3 2.48
Product Label Debentures and Bonds Commercial Paper (CP)/Certificate of Deposits (CD) Government Dated Securities
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
RATING PROFILE (%)

Low
High
- 2.01 99.53 2.48

LOW HIGH
This product is suitable for investors who are seeking*: A1+, AAA, AAA(CE), AAA(SO), IND AAA, SOV TREP & Term Deposits & Rev.Repo Net Current Assets
Regular Income over short term
Income by investing in fixed income securities of
varying maturities and predominantly investing in
AA+ and above rated corporate bonds.
Kotak Corporate Bond Fund NAV as on March 31, 2020: `2691.002 (Regular Plan-Growth Option), `1047.364 (Regular Plan-Monthly Dividend), `2760.322 (Direct Plan- Growth Option), `1101.03 Direct Plan- Monthly
Dividend)
30
Maturity
KOTAK BANKING AND PSU DEBT FUND Low
Medium
An open-ended debt scheme predominantly investing in debt instruments of banks, High
public sector undertakings, public financial institutions and municipal bonds

AAUM: `4,928.87 crs
Benchmark: CRISIL Banking and
Debt Instruments 7.26% Central Government SOV 4.64
PSU Debt Index
Debentures and Bonds 7.32% Central Government SOV 4.02
Allotment date: December 29,1998
Corporate Debt/ 7.27% Central Government SOV 1.33
Folio count: 8,479 Financial Institutions 7.69% State
ICICI Bank Ltd. (AT1 bonds) CRISIL AA+ 2.85 Government-Assam SOV 0.99
To generate income by predominantly ICICI Bank Ltd.(^) (AT1 bonds) ICRA AA+ 2.08 8.88% State
investing in debt & money market securities ICICI Bank Ltd. (AT1 bonds) CARE AA+ 0.41 Government-Haryana SOV 0.69
issued by Banks, Public Sector Undertaking Corporate Debt/Financial 7.82% State
(PSUs), Public Financial Institutions (PFI), Institutions - Total 5.34 Government-Assam SOV 0.55
Municipal Bonds and Reverse repos in such Public Sector Undertakings 8.39% State
securities, sovereign securities issued by the Rural Electrification Government-Rajasthan SOV 0.55
Central Government & State Governments, Corporation Ltd. CRISIL AAA 8.20 7.59% Central Government SOV 0.45
and / or any security unconditionally......... Food Corporation of India CRISIL AAA(CE) 6.24 7.8% Central Government SOV 0.32
guaranteed by the Govt. of India. There is 8.71% State
Power Finance Corporation Ltd. CRISIL AAA 6.16
no assurance that or guarantee that the Government-Uttar Pradesh SOV 0.29
State Bank Of India.(^) (AT1 bonds) CRISIL AA+ 5.38
investment objective of the scheme will be
Union Bank of India (AT1 bonds) FITCH IND AA 4.53 8.74% State
achieved.
Allahabad Bank CRISIL AA- 4.31 Government-Rajasthan SOV 0.22
Available Plans/Options Indian Railway Finance Government Dated
A) Regular Plan B) Direct Plan Corporation Ltd. CRISIL AAA 3.86 Securities - Total 14.05
Options: Dividend Payout, Dividend National Bank for Agriculture & Money Market Instruments
Reinvestment & Growth (applicable for all Rural Development(^) CRISIL AAA 3.48 Commercial Paper(CP)/
plans) National Highways Authority Certificate of Deposits(CD)
Dividend Frequency Of India(^) CRISIL AAA 3.25 Corporate Debt/
Monthly (12th of every Month) U P Power Corporation Ltd Financial Institutions
( Guaranteed By UP AXIS Bank Ltd. CRISIL A1+ 3.07
Ratios
State Government ) FITCH IND AA(CE) 2.12 IndusInd Bank Ltd. CRISIL A1+ 3.06
$ National Bank for Agriculture & AXIS Bank Ltd. ICRA A1+ 1.03
Rural Development ICRA AAA 2.11 ICICI Bank Ltd. ICRA A1+ 0.93
Modified Duration 2.70 yrs Canara Bank FITCH IND AAA 2.08 Corporate Debt/Financial
State Bank Of India. CRISIL AAA 1.86 Institutions - Total 8.09
Portfolio Yield 6.79% National Thermal Power Public Sector Undertakings
Corporation Ltd. CRISIL AAA 1.29 National Bank for Agriculture
Deviation is calculated on Annualised basis Bank Of Baroda FITCH IND AAA 1.22 & Rural Development CRISIL A1+ 3.12
using 3 years history of monthly returns. Bank Of Baroda FITCH AAA(IND) 1.07 Syndicate Bank FITCH IND A1+ 1.68
Hindustan Petroleum Andhra Bank CARE A1+ 1.05
Minimum Investment Amount Corporation Ltd. CRISIL AAA 1.07 Export-Import Bank of India CRISIL A1+ 1.04
Initial Investment: Dividend Payout,
Small Industries Development Small Industries Development
Dividend Re-investment & Growth `5000 &
Bank Of India ICRA AAA 0.85 Bank Of India CARE AAA 1.04
above.
Small Industries Development Oriental Bank of Commerce CRISIL A1+ 1.03
of `1. Bank Of India CARE AAA 0.59 Public Sector
Ideal Investment Horizon: 1-3 months Powergrid Vizag Transminssion Undertakings - Total 8.96
Ltd. ( backed by unconditional Treasury Bills
Load Structure and irrevocable guarantee 91 Days Treasury
Entry Load: Nil. (applicable for all plans) by Powergrid Corp ) CRISIL AAA 0.28
Exit Load: Nil (applicable for all plans) Bill 04/06/2020 SOV 0.08
Bank Of Baroda (AT1 bonds) ICRA AA 0.21 Treasury Bills - Total 0.08
Total Expense Ratio** Power Grid Corporation Triparty Repo 3.18
Regular: 0.61%; Direct: 0.29% of India Ltd. CRISIL AAA 0.10 Net Current Assets/
Public Sector (Liabilities) 0.04
Undertakings - Total 60.26 Grand Total 100.00
Government Dated Securities
ALLOCATION (%)
0.08
65.6 17.05 14.05 3.18
Data as on March 31, 2020 0.04
Product Label Debentures and Bonds Commercial Paper (CP)/Certificate of Deposits (CD) Government Dated Securities
Riskometer TREP & Term Deposits & Rev.Repo Treasury Bills Net Current Assets
Moderate Mo
t el y d
era Higerat
odLow h e RATING PROFILE (%)
M
ly
74.89 21.89 3.18

Low
0.04
High
LOW HIGH
Investors understand that their principal will be at low Moderately low risk A1+, AAA, AAA(CE), AAA(IND), IND A1+, IND AAA, SOV AA+, AA, IND AA, IND AA(CE), AA-
Income over a short to medium term investment TREP & Term Deposits & Rev.Repo Net Current Assets
horizon.
Investment in debt & money market securities of
PSUs, Banks, Public Financial Institutions,
government securities, and Municipal Bonds.
Kotak Banking And PSU Debt Fund NAV as on March 31, 2020: `46.7166 (Growth Option), `47.6467 (Direct Growth Option), `10.5027 (Monthly Dividend), `10.6056 (Direct Monthly Dividend)
31
Maturity
KOTAK BOND SHORT TERM FUND Low
Medium
An open-ended short term debt scheme investing in instruments such that the High
macaulay duration of the portfolio is between 1 year and 3 years

AAUM: `10,618.13 crs
Benchmark: NIFTY Short Duration
Debt Index Debt Instruments Bank Of Baroda FITCH AAA(IND) 0.50
Allotment date: May 2, 2002 Debentures and Bonds Rural Electrification
Corporate Debt/ Corporation Ltd. FITCH IND AAA 0.46
Folio count: 11,402
Financial Institutions National Highways
Investment Objective Reliable Devices Trust (Underlying Authority Of India CRISIL AAA 0.28
The investment objective of the Scheme is customer Reliance Retail) ICRA AAA(SO) 4.73 Power Grid Corporation
to provide reasonable returns and............. LIC Housing Finance Ltd. CARE AAA 3.38 of India Ltd. CRISIL AAA 0.11
reasonably high levels of liquidity by
Mahindra & Mahindra Small Industries Development
investing in debt instruments such as
bonds, debentures and Government Financial Services Ltd. FITCH IND AAA 3.28 Bank Of India ICRA AAA 0.03
securities; and money market instruments Tata Capital Financial Public Sector
such as treasury bills, commercial papers, Services Limited CRISIL AAA 3.20 Undertakings - Total 28.22
certificates of deposit, including repos in Reliance Jio Infocomm Ltd. CRISIL AAA 3.09 Government
permitted securities of different maturities, Rent A Device Trust (Underlying Dated Securities
so as to spread the risk across different kinds
of issuers in the debt markets. There is no customer Reliance Retail) ICRA AAA(SO) 3.03 7.32% Central Government SOV 5.67
assurance that the investment objective of Aditya Birla Finance Ltd. ICRA AAA 2.90 7.26% Central Government SOV 3.80
the Scheme will be realised. Jamnagar Utilities & Power 7.82% State
Available Plans/Options Private Limited Government(^)-Assam SOV 3.26
A) Regular Plan B) Direct Plan ( Mukesh Ambani Group ) (^) CRISIL AAA 2.90 7.59% Central Government SOV 3.00
HDFC Ltd. CRISIL AAA 2.83 8.59% State
Options: Dividend Payout, Dividend..........
Reinvestment & Growth (applicable for all Fullerton India Credit Co. Ltd. CRISIL AAA 2.12 Government-Andhra Pradesh SOV 2.23
plans) First Business Receivables 7.93% State
Trust ( Originator Reliance Government(^)-Chattisgarh SOV 1.80
Dividend Frequency
Industries Ltd ) CRISIL AAA(SO) 1.99 8.45% State
Monthly (12th of every Month), Half Yearly Bajaj Finance Ltd. CRISIL AAA 1.92 Government-Punjab SOV 0.61
(20th of Mar/Sept) and normal (as decided
Tata Sons Private Ltd. CRISIL AAA 1.64 8.26% State
by Trustees)
LIC Housing Finance Ltd. CRISIL AAA 1.55 Government-Uttar Pradesh SOV 0.56
Ratios Tata Capital Housing 8.72% State
$
Standard Deviation 1.66% Finance Ltd. CRISIL AAA 1.06 Government-Bihar SOV 0.55
Bhopal Dhule Transmission 7.69% State
Modified Duration 2.38 yrs Company Ltd. ( Operational Government-Assam SOV 0.49
power transmission project ) CRISIL AAA 1.03 8.5% State
L & T Infrastructure Government-Jammu & Kashmir SOV 0.34
Source: $ ICRAMFI Explorer. Standard Finance Company Ltd. CARE AAA 0.86 8.45% State
Deviation is calculated on Annualised basis Sikka Ports & Terminals Ltd. Government-Jammu & Kashmir SOV 0.33
using 3 years history of monthly returns. ( Mukesh Ambani Group ) CRISIL AAA 0.84 8.21% State
Minimum Investment Amount Tata Capital Financial Government-Haryana SOV 0.27
Initial Investment: (i) Dividend Re- Services Limited ICRA AAA 0.74 8.39% State
investment & Growth - `5000 & above (ii) Nabha Power Ltd. ( backed Government-Rajasthan SOV 0.27
Dividend Payout (Monthly Dividend) - by unconditional and 5.15% Central Government SOV 0.22
`50,000 & above
irrevocable guarantee by 8.27% State
Larsen & Toubro Ltd ) ICRA AAA(CE) 0.56 Government-Rajasthan SOV 0.22
of `1
Ideal Investments Horizon: 6 months & ICICI Bank Ltd. ICRA AAA 0.26 1.44% Central Government SOV 0.12
above Jamnagar Utilities & Power 9.36% State
Load Structure Private Limited Government-West Bengal SOV 0.12
Entry Load: Nil. (applicable for all plans) ( Mukesh Ambani Group) CRISIL AAA 0.26 8.45% State
Exit Load: Nil. HDB Financial Services Ltd. CRISIL AAA 0.09 Government-Bihar SOV 0.11
Total Expense Ratio** IOT Utkal Energy Services Ltd. CRISIL AAA 0.09 8.21% State
Regular: 1.13%; Direct: 0.31% Bajaj Housing Finance Ltd. CRISIL AAA 0.01 Government-Rajasthan SOV 0.07
Reliance Industries Ltd. CRISIL AAA 0.01 8.66% State
Corporate Debt/Financial Government-Tamil Nadu SOV 0.07
Institutions - Total 44.37 8.69% State
Data as on March 31, 2020 Public Sector Undertakings Government-Kerala SOV 0.07
Rural Electrification 5.18% Central Government SOV 0.01
Corporation Ltd. CRISIL AAA 7.51 Government Dated
Product Label Power Finance Securities - Total 24.19
Riskometer Corporation Ltd. CRISIL AAA 6.33 Money Market Instruments
Moderate Mo National Bank for Agriculture Commercial Paper(CP)/
t el y d
era Higerat & Rural Development CRISIL AAA 4.29 Certificate of Deposits(CD)
odLow h e
Indian Railway Finance Corporate Debt/
M
ly
Corporation Ltd. CRISIL AAA 2.26 Financial Institutions

Low
High
State Bank Of India.(^) CRISIL AAA 1.63 AXIS Bank Ltd. CRISIL A1+ 1.27
Bank Of Baroda FITCH IND AAA 1.10 Bajaj Finance Ltd. CRISIL A1+ 0.26
LOW HIGH ONGC Petro Additions Ltd. ICRA AAA(CE) 1.05 Corporate Debt/Financial
Investors understand that their principal will be at moderately low risk Canara Bank FITCH IND AAA 1.04 Institutions - Total 1.53
Small Industries Development Net Current Assets/
Investment in debt & money market securities with Bank Of India CARE AAA 0.94 (Liabilities) 1.69
portfolio Macaulay duration between 1 year & 3 years
National Thermal Power Grand Total 100.00
about whether the product is suitable for them. Corporation Ltd. CRISIL AAA 0.69
32
KOTAK BOND SHORT TERM FUND
An open-ended short term debt scheme investing in instruments such that the macaulay duration of the portfolio is between 1 year and 3 years
ALLOCATION (%)
72.59 24.19 1.69
1.53
Debentures and Bonds Government Dated Securities Net Current Assets

Commercial Paper (CP)/Certificate of Deposits (CD)
RATING PROFILE (%)
98.31 1.69
A1+, AAA, AAA(CE), AAA(IND), AAA(SO), IND AAA, SOV Net Current Assets

Scheme Returns (%) 7.98 8.08 7.95 7.80 8.18 8.62
Nifty Short Duration Index Returns (%) 8.14 8.37 8.15 7.95 8.21 8.53
Alpha -0.16 -0.30 -0.20 -0.15 -0.02 0.09
Nifty Short Duration Index (`)# 47,13,639 18,48,835 11,22,405 7,33,117 4,07,409 1,25,439
CRISIL 1 Year T-Bill Index Returns (%) 6.54 7.21 7.22 7.12 7.41 7.66
Scheme Inception : - May 02,2002. 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
Kotak Bond Short Term Fund NAV as on March 31, 2020: `38.0002 (Growth Option), `40.1135 (Direct Growth Option), `10.1234 (Monthly Dividend), `12.5696 (Direct Monthly Dividend), `13.8464 (Half Yearly Dividend),
`14.2204 (Direct Half Yearly Dividend), `11.914 (Direct Normal Dividend)
33
Maturity
KOTAK CREDIT RISK FUND Low
Medium
An open-ended debt scheme predominantly investing in aa and below rated High
corporate bonds (excluding AA+ rated corporate bonds)

AAUM: `5,070.15 crs
Issuer/Instrument Industry/Rating % to Net Assets
AUM: `4,804.21 crs
Benchmark: Nifty Credit Risk Debt Instruments
Bond Index $ Debentures and Bonds
Allotment date: May 11, 2010
Corporate Debt/Financial Institutions
Folio count: 26,343
Tata Motors Ltd. CARE AA- 5.70
Investment Objective Tata Steel Ltd. CARE AA- 5.18

The investment objective of the scheme is to Tata Projects Ltd. FITCH IND AA 4.18
generate income by investing in debt /and Talwandi Sabo Power Ltd.
money market securities across the yield
curve and predominantly in AA rated and ( Unconditional and Irrevocable Corporate Guarantee of Vedanta Ltd.) CRISIL AA(CE) 4.05
below corporate securities. The scheme Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) CARE AA(CE) 3.32
would also seek to maintain reasonable
liquidity within the fund. There is no Muthoot Finance Ltd. CRISIL AA 3.23
assurance that the investment objective of Prestige Estates Projects Limited ICRA A+ 3.13
the Schemes will be realised. Embassy Office Parks Reit CRISIL AAA 2.69
Available Plans/Options LIC Housing Finance Ltd. CARE AAA 2.12
L & T Infrastructure Finance Company Ltd. CRISIL AAA 2.09
Reinvestment & Growth (applicable for all Future Lifestyle Fashions Ltd. CRISIL AA- 2.05
plans) Dalmia Cement (Bharat) Ltd ICRA AA 1.99
Dividend Frequency Nayara Energy Limited CARE AA 1.91
Weekly (Every Monday), Monthly (12th of HDFC Ltd. CRISIL AAA 1.81
every Month), Quarterly (20th of Mar, Jun,
Sep and Dec of every Year), Annual (12th of Reliance Jio Infocomm Ltd. CRISIL AAA 1.75
March). Tata Motors Ltd. ICRA AA- 1.64
Ratios Bahadur Chand Investments Private Limited ICRA AA 1.55
$
Standard Deviation 2.12% Jyothy Fbricare Services Ltd. ( Guaranteed By Jyothy Laboratories Ltd ) CARE AA(CE) 1.55
Shriram Transport Finance Co Ltd. CRISIL AA+ 1.51
Century Textiles & Industries Ltd. ( ) CRISIL AA 1.04
Portfolio Yield 8.76% Godrej Properties Limited ICRA AA 1.04
Source: $ ICRAMFI Explorer. Standard Vizag General Cargo Berth Pvt. Ltd.
Deviation is calculated on Annualised basis ( backed by unconditional and irrevocable guarantee of Vedanta Ltd ) CRISIL AA(CE) 1.04
using 3 years history of monthly returns. Tata Steel Ltd. CARE AA 0.84
Minimum Investment Amount Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 0.53
Aditya Birla Finance Ltd. ICRA AAA 0.47
Additional Investment: `1000 & in multiples Aarish Solar Power Ltd. # CARE AA-(CE) 0.27
of `1 Aashman Energy Pvt. Ltd. # CARE AA-(CE) 0.27
Ideal Investments Horizon: 1 year & above
Divyesh Power Pvt. Ltd. # CARE AA-(CE) 0.27
Load Structure Elena Renewable Energy Pvt. Ltd. # CARE AA-(CE) 0.27
Exit Load: a) For redemption / switch out of Pratyash Renewable Pvt. Ltd. # CARE AA-(CE) 0.27
upto 10% of the initial investment amount SEI Baskara Power Pvt. Ltd. # CARE AA-(CE) 0.27
(limit) purchased or switched in within 1
year from the date of allotment: Nil. SEI Enerstar Renewable Energy Pvt. Ltd. # CARE AA-(CE) 0.27
b) If units redeemed or switched out are in SEI Mihir Energy Pvt. Ltd. # CARE AA-(CE) 0.27
excess of the limit within 1 year from the Shreyas Renwable Energy Pvt. Ltd. # CARE AA-(CE) 0.27
c) If units are redeemed or switched out on Zuvan Energy Pvt. Ltd. # CARE AA-(CE) 0.27
or after 1 year from the date of allotment: Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) CRISIL AAA 0.21
Nil.
ECL Finance Ltd. CRISIL AA- 0.11
Bajaj Finance Ltd. CRISIL AAA 0.10
Fullerton India Credit Co. Ltd. CRISIL AAA 0.07
Data as on March 31, 2020 LIC Housing Finance Ltd. CRISIL AAA 0.02
Product Label Shriram City Union Finance Ltd. CARE AA+ 0.02
Riskometer Corporate Debt/Financial Institutions - Total 59.64
Moderate Mo Public Sector Undertakings
t el y d
era Higerat
odLow h e U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(CE) 7.46
M
ly
Power Finance Corporation Ltd.(^) CRISIL AAA 6.07

Low
High
Andhra Bank (AT1 bonds) CARE A+ 5.28

Punjab & Sind Bank (AT1 bonds) ICRA A+ 2.92
LOW HIGH
Bank Of Baroda FITCH IND AAA 2.18
This product is suitable for investors who are seeking*: National Bank for Agriculture & Rural Development ICRA AAA 2.09
Investment predominantly in AA and below rated
Indian Railway Finance Corporation Ltd. CRISIL AAA 1.81
corporate bonds (Excluding AA+ rated corporate U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(CE) 1.67
bonds)
* Investors should consult their financial advisors if in doubt Union Bank of India (AT1 bonds) CARE AA- 1.65
Punjab National Bank (AT1 bonds) FITCH IND A 1.64
Syndicate Bank (AT1 bonds) CARE A+ 1.31
Rural Electrification Corporation Ltd. CRISIL AAA 1.08
34
KOTAK CREDIT RISK FUND
An open-ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+ rated corporate bonds)
PORTFOLIO
Union Bank of India (AT1 bonds) FITCH IND AA 0.76

National Highways Authority Of India CRISIL AAA 0.11
Small Industries Development Bank Of India CARE AAA 0.11
United Bank Of India CRISIL A+ 0.10
National Bank for Agriculture & Rural Development CRISIL AAA 0.06
PNB Housing Finance Ltd. FITCH IND AA 0.04
Rural Electrification Corporation Ltd. FITCH IND AAA 0.04
Steel Authority of India Ltd. FITCH IND AA- 0.02
Public Sector Undertakings - Total 36.40
Triparty Repo 0.38
Net Current Assets/(Liabilities)^^ 3.58
Grand Total 100.00
# (Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd.)

09.00% Yes Bank Ltd. (Basel III Tier I)
INE528G08394 0.00 0.00 9040.89
Perpetual Call-18/10/2022 (L)
Total - 0.00 0.00 9,040.89
ALLOCATION (%)
96.04 3.58 0.38
Debentures and Bonds Net Current Assets TREP & Term Deposits & Rev.Repo
RATING PROFILE (%)
48.79 25.41 21.84 3.58

0.38
AA+, AA, AA(CE), IND AA, IND AA(CE), AA-, AA-(CE), IND AA- AAA, IND AAA A+, A+(CE), IND A
Net Current Assets TREP & Term Deposits & Rev.Repo

Scheme Returns (%) 8.26 7.96 7.50 7.23 6.82 8.62
NIFTY Credit Risk Bond Index Returns (%) 9.13 8.81 8.44 8.41 8.98 8.53
Alpha -0.87 NA -0.93 -1.18 -2.16 0.09
NIFTY Credit Risk Bond Index (`)# 19,00,074 11,49,310 7,42,118 4,08,639 1,25,722 1,25,439
CRISIL 1 Year T-Bill Index (%) 7.22 7.22 7.12 7.41 7.66 7.66
Scheme Inception : - May 11, 2010. 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
Kotak Credit Risk Fund NAV as on March 31, 2020: `21.9506 (Growth Option), `23.4602 (Direct Growth Option), `9.8961 (Weekly Dividend), `10.3248 (Direct Weekly Dividend), `10.2091 (Monthly Dividend), `10.4517
(Direct Monthly Dividend), `10.9249 (Quarterly Dividend), `10.3111 (Direct Quarterly Dividend), `10.1567 (Annual Dividend), `17.6209 (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.
35
Maturity
KOTAK MEDIUM TERM FUND Low
Medium
An open-ended medium term debt scheme investing in instruments High
such that the macaulay duration of the portfolio is between 3 years and 4 years

AAUM: `3,147.45 crs Issuer/Instrument Industry/Rating % to Net Assets
AUM: `2,907.63 crs
Benchmark: NIFTY Medium Debt Instruments
Duration Debt Index
Allotment date: March 21, 2014 Debentures and Bonds
Folio count: 13,946 Corporate Debt/Financial Institutions
Investment Objective Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) CARE AA(CE) 8.31
The investment objective of the scheme is to
generate regular income and capital Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 7.01
appreciation by investing in a portfolio of
Reliance Jio Infocomm Ltd. CRISIL AAA 6.76
medium term debt and money market
instruments. There is no assurance or... EMBASSY OFFICE PARKS REIT CRISIL AAA 6.32
the scheme will be achieved. Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) CRISIL AAA 4.87
Available Plans/Options Shriram Transport Finance Co Ltd. CRISIL AA+ 2.50
Talwandi Sabo Power Ltd.
Reinvestment & Growth (applicable for all ( Unconditional and Irrevocable Corporate Guarantee of Vedanta Ltd.) CRISIL AA(CE) 1.96
plans)
Bahadur Chand Investments Private Limited ICRA AA 1.70
Dividend Frequency
Quarterly (20th of Mar, Jun, Sep and Dec of Muthoot Finance Ltd. CRISIL AA 0.34
every Year), Annually (12th of March)
HDFC Ltd. CRISIL AAA 0.17
Ratios
$
Aarish Solar Power Ltd. # CARE AA-(CE) 0.15
Aashman Energy Pvt. Ltd. # CARE AA-(CE) 0.15
Divyesh Power Pvt. Ltd. # CARE AA-(CE) 0.15
Elena Renewable Energy Pvt. Ltd. # CARE AA-(CE) 0.15
Source: $ ICRAMFI Explorer. Standard Pratyash Renewable Pvt. Ltd. # CARE AA-(CE) 0.15
Deviation is calculated on Annualised basis
using 3 years history of monthly returns. SEI Baskara Power Pvt. Ltd. # CARE AA-(CE) 0.15
Minimum Investment Amount SEI Enerstar Renewable Energy Pvt. Ltd. # CARE AA-(CE) 0.15
Initial Purchase: `5,000/- and in multiples of
1 for purchases and for `0.01 for switches. SEI Mihir Energy Pvt. Ltd. # CARE AA-(CE) 0.15
Additional Purchase: `1000 & in multiples Shreyas Renwable Energy Pvt. Ltd. # CARE AA-(CE) 0.15
of `1.for purchases and for `0.01 for
switches. Zuvan Energy Pvt. Ltd. # CARE AA-(CE) 0.15
Ideal Investment Horizon: 2.5 years & above
IOT Utkal Energy Services Ltd. CRISIL AAA 0.10
Load Structure
Entry Load: Nil. (applicable for all plans) Tata Sons Private Ltd. CRISIL AAA 0.10
Exit Load: a) For redemption / switch out of The Indian Hotels Company Ltd. CARE AA+ 0.10
upto 15% of the initial investment amount
(limit) purchased or switched in within 18 Corporate Debt/Financial Institutions - Total 41.74
months from the date of allotment: Nil.
b) If units redeemed or switched out are in Public Sector Undertakings
excess of the limit within 18 months from
the date of allotment: 2%. U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(CE) 10.00
c) If units are redeemed or switched out on Punjab National Bank (AT1 bonds) FITCH IND A 7.30
or after 18 months from the date of
allotment: Nil. Punjab & Sind Bank (AT1 bonds) ICRA A+ 5.33
Total Expense Ratio** Indian Railway Finance Corporation Ltd. CRISIL AAA 5.28
Power Finance Corporation Ltd. CRISIL AAA 4.56
U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(CE) 4.37
National Highways Authority Of India CRISIL AAA 3.50
Data as on March 31, 2020 ONGC Petro Additions Ltd. ICRA AAA(CE) 3.43
Product Label Rural Electrification Corporation Ltd. CRISIL AAA 3.16

Riskometer Union Bank of India (AT1 bonds) CARE AA- 2.57
Moderate Mo
t el y d Bank Of Baroda FITCH IND AAA 2.10
era Higerat
odLow h e
M
PNB Housing Finance Ltd. FITCH IND AA 1.94

ly
United Bank Of India CRISIL A+ 0.85

Low
High
State Bank Of India. CRISIL AAA 0.39

LOW HIGH
Syndicate Bank (AT1 bonds) CARE A+ 0.17
This product is suitable for investors who are seeking*: Steel Authority of India Ltd. FITCH IND AA- 0.03
Investment in debt, government securities & money
market instruments with portfolio Macaulay duration Public Sector Undertakings - Total 54.98
between 3 years & 4 years
* Investors should consult their financial advisors if in doubt Government Dated Securities
1.44% Central Government SOV 0.60
Government Dated Securities - Total 0.60
36
KOTAK MEDIUM TERM FUND
An open-ended medium term debt scheme investing in instruments such that the macaulay duration of the portfolio is between 3 years and 4 years
PORTFOLIO
Money Market Instruments
Commercial Paper(CP)/Certificate of Deposits(CD)
Public Sector Undertakings
Syndicate Bank FITCH IND A1+ 0.68
Public Sector Undertakings - Total 0.68
Net Current Assets/(Liabilities)^^ 2.00
Grand Total 100.00
# (Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd.)

9.10% Dewan Housing Fin Co.Ltd.
INE202B07IK1 666.92 0.23 2727.5
(Tranche I Series IB)-09/09/2019 (L)
09.05% Dewan Housing Fin Co.Ltd.
INE202B07IJ3 2,000.06 0.69 8178.75
(Tranche I Series IA)-09/09/2019 (L)
09.00% Yes Bank Ltd. (Basel III Tier I)
INE528G08394 0.00 0.00 4427.34
Perpetual Call-18/10/2022 (L)
Total - 2,666.97 0.92 15,333.59
ALLOCATION (%)
96.72 2.00 0.68 0.6
Debentures and Bonds Net Current Assets Commercial Paper (CP)/Certificate of Deposits (CD)
Government Dated Securities
RATING PROFILE (%)
49.03 30.95 18.02 2.00
AAA, AAA(CE), IND A1+, IND AAA, SOV AA+, AA, AA(CE), IND AA, IND AA(CE), AA-, AA-(CE), IND AA-
A+, A+(CE), IND A Net Current Assets

Monthly SIP of (`) 10000 Since Inception 5 years 3 years 1 year
Total amount invested (`) 7,30,000 6,00,000 3,60,000 1,20,000
Total Value as on Mar 31, 2020 (`) 9,17,123 7,16,358 3,97,764 1,24,539
Scheme Returns (%) 7.41 7.03 6.59 7.11
Nifty Medium Duration Index Returns (%) 8.53 8.43 9.02 10.65
Alpha -1.12 -1.40 -2.42 -3.54
Nifty Medium Duration Index (`)# 9,49,239 7,42,010 4,12,290 1,26,769
CRISIL 10 Year Gilt Index (`)^ 9,53,861 7,45,640 4,19,327 1,28,464
CRISIL 10 Year Gilt Index Returns (%) 8.69 8.63 10.17 13.37
Scheme Inception : - March 21, 2014. 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
Kotak Medium Term Fund NAV as on March 31, 2020: `16.2921 (Growth Option), `17.1874 (Direct Growth Option), `10.7454 (Quarterly Dividend), `10.802 (Direct Quarterly Dividend), `10.3825 (Annual Dividend),
`17.2289 (Direct Annual Dividend).
37
Maturity
KOTAK DYNAMIC BOND FUND Low
Medium
An open-ended dynamic debt scheme investing across duration High

AAUM: `1,114.23 crs
Benchmark: Nifty Composite Debt
Index Debt Instruments State Bank Of India.(^)
Allotment date: May 26, 2008 Debentures and Bonds (AT1 bonds) CRISIL AA+ 5.96
Folio count: 12,133 Corporate Debt/ Rural Electrification
Investment Objective Financial Institutions Corporation Ltd.(^) CRISIL AAA 5.93
The investment objective of the Scheme is Bank Of Baroda (AT1 bonds) CRISIL AA+ 4.37
LIC Housing Finance Ltd. CRISIL AAA 6.70
to maximise returns through an active
management of a portfolio of debt and Sikka Ports & Terminals Ltd. National Bank for Agriculture
money market securities. There is no & Rural Development ICRA AAA 2.33
( Mukesh Ambani Group ) (^) CRISIL AAA 6.46
assurance or guarantee that the investment
objective of the scheme will be achieved. ICICI Bank Ltd. (AT1 bonds) CRISIL AA+ 3.29 Union Bank of India (AT1 bonds) FITCH IND AA 1.75
Available Plans/Options AXIS Bank Ltd. (AT1 bonds) CRISIL AA+ 0.97 Public Sector
A)Regular Plan B)Direct Plan
HDFC Ltd. CRISIL AAA 0.20 Undertakings - Total 36.81
Reinvestment & Growth SP Jammu Udhampur Government
(applicable for all plans) Highway Ltd. ( Operational Dated Securities
Dividend Frequency road project with annuity 7.26% Central Government SOV 37.58
Monthly Dividend Payout & Reinvestment
(12th of every Month) (w.e.f June 1, 2017), from NHAI ) ICRA AAA 0.15 8.27% State
Quarterly Dividend Payout and Corporate Debt/Financial Government-Rajasthan SOV 3.12
Reinvestment (20th of March, June,
September and December of every year) Institutions - Total 17.77 1.44% Central Government SOV 1.71
(applicable for all plans)
Public Sector Government Dated
Ratios
Undertakings Securities - Total 42.41
$
Indian Railway Finance Triparty Repo 0.79
Modified Duration 4.42 yrs Corporation Ltd.(^) CRISIL AAA 10.24 Net Current Assets/
Portfolio Yield 7.32% Power Finance (Liabilities) 2.22
$
Source: ICRAMFI Explorer. Standard Corporation Ltd. CRISIL AAA 6.23 Grand Total 100.00
Deviation is calculated on Annualised basis
ALLOCATION (%)
`1 for purchase and for `0.01 for switches 54.58 42.41 2.22
Additional Investment: `1000 & in 0.79
multiples of `1
Ideal Investment Horizon: 6 months & Net Current Assets TREP & Term Deposits & Rev.Repo
Debentures and Bonds Government Dated Securities
above
Load Structure
Exit Load: Nil RATING PROFILE (%)
Regular: 1.08%; Direct: 0.43% 80.65 16.34 2.22
0.79
AAA, SOV AA+, IND AA Net Current Assets TREP & Term Deposits & Rev.Repo
Product Label
t el y d
era Higerat
M
ly
Low
High
Scheme Returns (%) 9.04 9.21 9.21 9.20 9.63 9.70
LOW HIGH Nifty Composite Debt Index Returns (%) 8.57 8.71 8.82 8.69 9.63 11.90
Investors understand that their principal will be at moderately low risk Alpha 0.46 0.50 0.39 0.52 0.00 -2.19
Income over a medium term investment horizon Nifty Composite Debt Index (`)# 24,20,491 18,68,776 11,41,387 7,41,448 4,12,836 1,26,421
Investment in debt & money market securities across
durations. CRISIL 1 Year T-Bill Index (`)^ 22,05,220 17,39,008 10,85,911 7,18,007 4,02,642 1,24,888
about whether the product is suitable for them. CRISIL 1 Year T-Bill Index Returns (%) 7.01 7.21 7.22 7.12 7.41 7.66
Scheme Inception : - May 26, 2008. 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
Kotak Dynamic Bond Fund NAV as on March 31, 2020: `26.8723 (Growth Option), `28.0944 (Direct Growth Option), `11.2455 (Quarterly Dividend), `11.0419 (Direct Quarterly Dividend), `21.8913 (Regular Monthly
Dividend), `22.5653 (Direct Monthly Dividend)
38
Maturity
KOTAK BOND FUND Low
Medium
An open-ended medium term debt scheme investing in instruments such that the High
macaulay duration of the portfolio is between 4 years and 7 years
Fund Manager: Mr. Abhishek Bisen* PORTFOLIO

AAUM: `1,464.74 crs
Benchmark: NIFTY Medium to
Debt Instruments THDC India Ltd. (THDCIL) CARE AA 1.75
Long Duration Debt
Index Debentures and Bonds U P Power Corporation Ltd
Allotment date: November 25, 1999 Corporate Debt/Financial ( Guaranteed By UP
Folio count: 4,188
Institutions State Government ) FITCH IND AA(CE) 1.49
Investment Objective Rural Electrification
Muthoot Finance Ltd. CRISIL AA 2.41
The investment objective of the Scheme is
to create a portfolio of debt instruments Aditya Birla Finance Ltd. ICRA AA+ 1.30 Corporation Ltd. CRISIL AAA 1.14
such as bonds, debentures, Government Public Sector
Mobil Trust Series-07 Ptc
Securities and money market instruments,
including repos in permitted securities of 20-06-2022 - (B) (Mobil Undertakings - Total 28.82
different maturities, so as to spread the risk
across different kinds of issuers in the debt Trust Series - 07) CRISIL AAA(SO) 1.10 Government
markets. There is no assurance that the Sikka Ports & Terminals Ltd. Dated Securities
investment objective of the Scheme will be
achieved. ( Mukesh Ambani Group ) CRISIL AAA 1.07 7.26% Central Government SOV 18.34
Available Plans/Options Tata Sons Private Ltd. CRISIL AAA 0.94 7.57% Central Government SOV 17.66
A) Regular Plan B) Direct Plan HDFC Ltd. CRISIL AAA 0.14 6.45% Central Government SOV 5.01
Options: Dividend Payout, Dividend Shriram Transport 7.88% State
plans) Finance Co Ltd. CRISIL AA+ 0.11 Government-Rajasthan SOV 4.39
Dividend Frequency Hindalco Industries Ltd. CRISIL AA 0.02 6.79% Central Government SOV 3.56
Quarterly (20th of Mar/Jun/Sep/Dec), Half
Yearly (20th of Mar/Sept), Annual (12th of Corporate Debt/Financial 7.27% Central Government SOV 1.10
Mar) (applicable for all plans) Institutions - Total 7.09 1.44% Central Government SOV 0.81
Ratios Public Sector Government Dated
$
Standard Deviation 3.30% Undertakings Securities - Total 50.87
Modified Duration 5.58 yrs National Highways Authority Triparty Repo 8.39
Of India CRISIL AAA 9.83 Net Current Assets/
Allahabad Bank CRISIL AA- 5.50 (Liabilities) 4.83
Deviation is calculated on Annualised basis Bank Of Baroda FITCH AAA(IND) 4.97 Grand Total 100.00
Canara Bank FITCH IND AAA 4.14
`1 for purchase and for `0.01 for switches ALLOCATION (%)
of `1 50.87 35.91 8.39 4.83
Load Structure
Entry Load: Nil. (applicable for all plans) TREP & Term Deposits & Rev.Repo
Government Dated Securities Debentures and Bonds Net Current Assets
Exit Load: a) For redemptions/switch outs
(including SIP/STP) within 3 months from
the date of allotment of units: 0.20%
b) For redemptions/switch outs (including
SIP/STP) after 3 months from the date of RATING PROFILE (%)
allotment of units: Nil
74.2 12.58 8.39 4.83
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, AAA, AAA(IND), AAA(SO), IND AAA, SOV AA+, AA, IND AA(CE), AA- TREP & Term Deposits & Rev.Repo
2018.
Total Expense Ratio** Net Current Assets
Product Label
t el y d
era Higerat
M
ly
Low
High
Scheme Returns (%) 8.21 7.99 7.87 7.75 8.82 10.77

Nifty Medium to Long Duration Debt Index Returns (%) NA 8.57 8.75 8.59 9.60 12.59
LOW HIGH
Investors understand that their principal will be at moderate risk Alpha NA -0.59 -0.88 -0.84 -0.77 -1.82
Income over a long investment horizon Nifty Medium to Long Duration Debt Index (`)# NA 18,55,265 11,38,759 7,39,792 4,12,639 1,26,790
Investment in debt & money market securities with a
portfolio Macaulay duration between 4 years & 7 CRISIL 10 Year Gilt Index (`)^ NA 18,16,314 11,38,621 7,45,640 4,19,327 1,28,464
years.
* Investors should consult their financial advisors if in doubt CRISIL 10 Year Gilt Index Returns (%) NA 8.04 8.55 8.63 10.17 13.37
Scheme Inception : - November 25,1999. 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
Kotak Bond Fund NAV as on March 31, 2020: `56.4863 (Growth Option), `59.971 (Direct Growth Option), `12.0714 (Quarterly Dividend), `16.2309 (Direct Quarterly Dividend), `34.6072 (Annual Dividend), `21.6008
(Direct Annual Dividend)
39
Maturity
KOTAK GILT FUND Low
Medium
An open-ended debt scheme investing in government securities across maturity High
Fund Manager: Mr. Abhishek Bisen* PORTFOLIO

AAUM: `404.80 crs
Benchmark: Nifty All Duration
G-Sec Index Government Dated Securities 7.88% State
7.57% Central Government-Rajasthan SOV 10.67
Allotment date: Regular Plan -
December 29, 1998; Government SOV 21.94 7.26% Central
6.79% Central Government SOV 6.42
PF & Trust Plan -
November 11, 2003 Government SOV 17.28 Government Dated
Folio count: 1,860 6.45% Central Securities - Total 83.25
Government SOV 15.07 Triparty Repo 9.97
The objective of the Plan is to generate risk-free 7.27% Central Net Current Assets/
returns through investments in sovereign Government SOV 11.87 (Liabilities) 6.78
securities issued by the Central Government... Grand Total 100.00
and/or State Government(s) and/or any
security unconditionally guaranteed by the
Government of India, and/or reverse repos in ALLOCATION (%)
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 83.25 9.97 6.78
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 Government Dated Securities TREP & Term Deposits & Rev.Repo Net Current Assets
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 RATING PROFILE (%)
respect and may also participate in their
auction from time to time. Subject to the
maximum amount permitted from time to 83.25 9.97 6.78
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 SOV TREP & Term Deposits & Rev.Repo Net Current Assets
Plan will be achieved. It is however...........
emphasized, that investments under the Plan
are made in Government Securities, where Average Maturity of the portfolio based on Security's original maturity date: 8.13 years.
there is no risk of default of payment in Kotak Gilt Fund NAV as on March 31, 2020: `70.6836 (Regular-Growth), `75.9734 (Regular-Growth-Direct), `14.7874 (Quarterly-Dividend), `17.158 (Quarterly-
principal or interest amount. Dividend Direct), `72.3136 (PF & Trust-Growth), `77.8078 (PF & Trust-Growth Direct), `12.0954 (PF & Trust-Quarterly Dividend )
Available Plans/Options *For Fund Manager experience, please refer page 57-59. **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no 50-56.
A) Regular Non Direct Plan, For last three dividends, please refer page no 60-62.
B) PF & Trust Non Direct Plan,
C) Regular Direct Plan,
D) PF & Trust Direct Plan.
Options: Dividend Payout, Dividend.........
plans)
Dividend Frequency
Quarterly (20th of Mar/Jun/Sep/Dec)
Ratios
$
Standard Deviation
A)Regular Plan 4.53%
B) PF & Trust Plan 4.53%

$
Source: ICRAMFI Explorer. Standard Deviation
is calculated on Annualised basis using 3 years
history of monthly returns.
Initial Investment: `5000 and in multiple of `1
for purchase and for `0.01 for switches
Additional Investment: `1000 & in multiples of `1
Load Structure
Entry Load: (a) Regular Plan - Entry: Nil. (b) PF &
Trust Plan - Entry: Nil. (applicable for all plans)
Exit Load: (a) Regular Plan - Exit: Nil. (b)
PF&Trust Plan-Exit: Nil. (applicable for all plans)
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
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
40
Details of exposure across all Debt Funds of Kotak Mahindra Mutual Fund as on March 31, 2020
Issuer Name %age of Exposure to Debt AUM $
AU Small Finance Bank Ltd. 0.04
AXIS Bank Ltd. 3.42
AXIS Finance Ltd. 0.15
Aarish Solar Power Ltd.
( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of
Greenko Energies Pvt. Ltd. ) 0.02
Aashman Energy Pvt. Ltd.
Aditya Birla Finance Ltd. 0.91
Allahabad Bank 0.29
Andhra Bank 1.16
Avendus Finance Pvt Ltd. 0.10
Bahadur Chand Investments Private Limited 0.18
Bajaj Finance Ltd. 1.33
Bajaj Housing Finance Ltd. 0.38
Bank Of Baroda 2.01
Bank of India 0.51
Bharti Telecom Ltd. 0.56
Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) 0.18
Birla Corporation Ltd. 0.04
Canara Bank 0.30
Central Government 7.32
Century Textiles & Industries Ltd. 0.05
Chambal Fertilisers & Chemicals Ltd. 0.20
Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) 0.60
Dalmia Cement (Bharat) Ltd 0.17
Divyesh Power Pvt. Ltd.
ECL Finance Ltd. 0.23
Embassy Office Parks REIT 0.38
Elena Renewable Energy Pvt. Ltd.
Export-Import Bank of India 0.72
First Business Receivables Trust ( Originator Reliance Industries Ltd ) 0.54
Food Corporation of India (Guaranteed by Govt of India) 0.42
Fullerton India Credit Co. Ltd. 0.27
Future Lifestyle Fashions Ltd. 0.10
Godrej Properties Limited 0.13
Grasim Industries Ltd. 0.04
HDB Financial Services Ltd. 1.25
HDFC Bank Ltd. 0.22
HDFC Ltd. 2.72
HPCL Mittal Energy Ltd. 0.09
HSBC InvestDirect Financial Services (India) Ltd. 0.05
Hero FinCorp Ltd. 0.40
Hindalco Industries Ltd. 0.00
Hindustan Petroleum Corporation Ltd. 0.46
ICICI Bank Ltd. 0.66
ICICI Home Finance Company Limited 0.03
IIFL Home Finance Ltd. 0.11
IOT Utkal Energy Services Ltd. 0.02
Indian Oil Corporation Ltd. 1.85
Indian Railway Finance Corporation Ltd. 0.79
Indostar Capital Finance Limited 0.14
IndusInd Bank Ltd. 2.98
JM Financial Credit Solutions Ltd. 0.02
JM Financial Products Limited 0.11
Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) 0.52
Jyothy Fbricare Services Ltd. ( Guaranteed By Jyothy Laboratories Ltd ) 0.08
Kotak Mahindra Investments Ltd. 0.25
Kotak Mahindra Prime Ltd. 0.38
L & T Finance Ltd. 0.02
L & T Housing Finance Ltd. 0.13
L & T Infrastructure Finance Company Ltd. 0.41
LIC Housing Finance Ltd. 3.19
Mahindra & Mahindra Financial Services Ltd. 0.75
Manappuram Finance Ltd. 0.30
Mobil Trust Series - 07 ( Originator Shriram City Union Finance Ltd ) 0.18
Mobil Trust Series - 08 ( Originator Shriram City Union Finance Ltd ) 0.04
Muthoot Finance Ltd. 1.17
NHPC Ltd. 0.01
Nabha Power Ltd. ( Guaranteed by Larsen & Toubro Ltd ) 0.62
National Bank for Agriculture & Rural Development 4.18
National Highways Authority Of India 0.58
National Housing Bank 1.02
National Thermal Power Corporation Ltd. 0.44
Nayara Energy Limited 0.10
Nuvoco Vistas Corporation Ltd. 0.10
ONGC Petro Additions Ltd. (Letter of Comfort from ONGC) 0.21
41
Issuer Name %age of Exposure to Debt AUM $
Oriental Bank of Commerce 1.26
PNB Housing Finance Ltd. 0.17
Phoenix ARC Pvt Ltd 0.05
Power Finance Corporation Ltd. 2.60
Power Grid Corporation of India Ltd. 0.05
Powergrid Vizag Transminssion Ltd. (Guaranteed by Powergrid Corp ) 0.02
Pratyash Renewable Pvt. Ltd.
Prestige Estates Projects Limited 0.16
Punjab & Sind Bank 0.40
Punjab National Bank 0.30
Reliable Devices Trust ( Underlying customer Reliance Retail ) 0.66
Reliance Industries Ltd. 3.70
Reliance Jio Infocomm Ltd. 2.89
Reliance Jio Infocomm Ltd. (Guaranteed by Reliance Industries ) 0.22
Rent A Device Trust ( Underlying customer Reliance Retail ) 0.66
Rural Electrification Corporation Ltd. 4.46
SEI Baskara Power Pvt. Ltd.
SEI Enerstar Renewable Energy Pvt. Ltd.
SEI Mihir Energy Pvt. Ltd.
SP Jammu Udhampur Highway Ltd. ( Operational road project with annuity from NHAI) 0.07
Shreyas Renwable Energy Pvt. Ltd.
Shriram City Union Finance Ltd. 0.08
Shriram Transport Finance Co Ltd. 0.35
Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) 0.42
Small Industries Development Bank Of India 2.78
State Bank Of India. 0.62
State Government 5.75
Steel Authority of India Ltd. 0.00
Sundaram BNP Paribas Home Finance Ltd 0.18
Sundaram Finance Ltd. 0.44
Syndicate Bank 2.41
THDC India Ltd. (THDCIL) 0.03
TREP/REVERSE REPO 12.06
Talwandi Sabo Power Ltd. (Guaranteed by Vedanta Ltd.) 0.37
Tata Capital Financial Services Limited 1.05
Tata Capital Housing Finance Ltd. 0.93
Tata Motors Finance Ltd. 0.51
Tata Motors Finance Solutions Ltd. 0.25
Tata Motors Ltd. 0.36
Tata Projects Ltd. 0.21
Tata Sons Private Ltd. 0.52
Tata Steel Ltd. 0.46
The Indian Hotels Company Ltd. 0.06
U P Power Corporation Ltd ( Guaranteed By UP State Government ) 1.64
Union Bank of India 0.44
United Bank Of India 0.03
Vedanta Ltd. 0.82
Vizag General Cargo Berth Pvt. Ltd. (Guaranteed by Vedanta Ltd ) 0.05
YES Bank Ltd. 0.00
Zuvan Energy Pvt. Ltd.
Total 100.00
Industry / Sector %age of Exposure to Debt AUM $

BANK 17.08
CASH (TREP/REVERSE REPO) 12.06
CORPORATES 21.35
FINANCIAL SERVICES 25.64
GOI/TBILLS 13.07
NBFC 10.64
REAL ESTATE 0.16
Total 100.00
Key Credit Brief provides the Key Highlights for select counterparties in our portfolio.
Please click here for the updated Key Credit Brief.
For 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.
42
Maturity For Debt: Investment style For Equity:
KOTAK ASSET ALLOCATOR Low Large
FUND Medium Medium

An open-ended fund of fund scheme investing in specified High Small
open-ended equity, and debt schemes of Kotak Mahindra Mutual Fund
Fund Manager: Mr. Devender Singhal* PORTFOLIO

AAUM: `48.73 crs
Benchmark: NIFTY 50 Hybrid
Composite Debt Equity & Equity related Kotak Mahindra Liquid Fund
50:50 Index Mutual Fund Units Direct Plan Growth Debt Scheme 4.86
Allotment date: August 9, 2004 Kotak Equity Opportunities Kotak Infrastructure &
Folio count: 3,309 Economic Reform Fund
Fund Direct Growth Equity Scheme 41.46
Investment Objective Kotak Emerging Equity Fund Direct Growth Equity Scheme 2.53
To generate long-term capital appreciation Direct Growth Equity Scheme 23.65 Mutual Fund Units - Total 99.10
from a portfolio created by investing in
specified open-ended equity, and debt Kotak Standard Multicap Fund Net Current Assets/
schemes of Kotak Mahindra Mutual Fund. Direct Growth Equity Scheme 19.51 (Liabilities) 0.90
However, there is no assurance that the
investment objective of the Scheme will be Kotak Small Cap Fund Grand Total 100.00
realized. Direct Growth Equity Scheme 7.09
Options: Dividend Payout,
Dividend Reinvestment &
Growth (applicable for all plans) 99.10 0.90
Dividend Frequency
Trustee s Discretion
Minimum Investment Amount Unrated Net Current Assets
of `1
Ideal Investment Horizon: 3 years & above
Load Structure
Exit Load: a) 1% if exit before 1 year from
date of allotment.
b) Nil if exit after 1 year from the date of
allotment.
Exit Load shall be applicable incase of switch
from Regular Plan (where broker code is
mentioned) to Direct Plan
Exit Load shall not be applicable:
Incase of switch from Regular Plan (where
no broker code is mentioned) to Direct Plan
In case of switch from Direct Plan to Regular
Plan.
Regular:0.75%; Direct: 0.36%
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Investment in open-ended diversified equity schemes
and debt schemes of Kotak Mahindra Mutual Fund
Kotak Asset Allocator Fund NAV as on March 31, 2020: `72.744 (Dividend Option), `76.031 (Direct Dividend Option), `74.731 (Growth Option), `77.423 (Direct Growth Option)
43
Investment style
KOTAK GLOBAL EMERGING MARKET FUND Large
Medium
An open-ended fund of fund scheme investing in overseas mutual fund Small
schemes investing in global emerging markets
Fund Manager: Mr. Arjun Khanna* PORTFOLIO

(w.e.f. May 09, 2019)
AAUM: `76.51 crs
Assets Assets
AUM: `70.50 crs
Benchmark: MSCI Emerging Equity & Equity related Triparty Repo 3.47
Market index Mutual Fund Units Net Current Assets/
Allotment date: September 26, 2007
Folio count: 20,326 Signature Emerging (Liabilities) -0.31
Markets Fund Overseas Mutual Fund 96.84 Grand Total 100.00
The investment objective of the scheme is to Mutual Fund Units - Total 96.84
provide long-term capital appreciation by
investing in an overseas mutual fund
scheme that invests in a diversified portfolio SECTOR ALLOCATION (%)
of securities as prescribed by SEBI from time
to time in global emerging markets.
However, there is no assurance or - 0.31 96.84 3.47
the scheme will be achieved.
Available Plans/Options Overseas Mutual Fund TREP & Term Deposits & Rev.Repo Net Current Assets
Options: Dividend Payout,
Dividend Reinvestment &
Growth (applicable for all plans)
Dividend Frequency
Trustee s Discretion
of `1
Ideal Investment Horizon: 3 years & above
Load Structure
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
Regular:1.63%; Direct: 1.16%
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Investment in overseas mutual fund schemes that invest
in a diversified portfolio of securities in global emerging
markets
Kotak Global Emerging Market Fund NAV as on March 31, 2020: `14.158 (Dividend Option), `15.004 (Direct Dividend Option), `14.157 (Growth Option), `14.941 (Direct Growth Option)
44
KOTAK GOLD ETF
An open-ended scheme replicating/ tracking physical gold prices
Fund Manager: Mr. Abhishek Bisen & PORTFOLIO

Mr. Satish Dondapati*
(w.e.f. May 09, 2019) Issuer/Instrument Industry/Rating % to Net Issuer/Instrument Industry/Rating % to Net
Assets Assets
AAUM: `707.12 crs
AUM: `757.58 crs Equity & Equity related Net Current Assets/
Benchmark: Price of Gold Gold 1 Kg Fineness 0.995 ** GOVERNMENT 99.01 (Liabilities) 0.99
Allotment date: July 27, 2007 Equity & Equity Grand Total 100.00
Folio count: 35,998
The investment objective of the scheme is Tracking Error: 0.07%
to generate returns that are in line with the
returns on investment in physical gold, SECTOR ALLOCATION (%)
subject to tracking errors.
Available Plan 99.01 0.99
Regular Plan
Through Exchange:10 Units,
Through AMC: 10000 Units, Gold Net Current Assets
Ideal Investment Horizon: 3 years and.......
above
Load Structure
Regular: 0.55%
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Returns in line with physical gold over medium to long
term, subject to tracking error
Investment in physical gold
Kotak Gold ETF NAV as on March 31, 2020: `384.9083

7
45
KOTAK NIFTY ETF
An open-ended scheme replicating/ tracking nifty 50 index

AUM: `862.57 crs Equity & Equity related Bajaj Finserv Ltd. Finance 0.77
Benchmark: Nifty 50 TRI HDFC Bank Ltd. Banks 10.42 Mahindra & Mahindra Ltd. Auto 0.76
Allotment date: February 2, 2010
Reliance Industries Ltd. Petroleum Products 10.05 Bajaj Auto Ltd. Auto 0.73
Folio count: 12,400
HDFC Ltd. Finance 7.88 Bharat Petroleum
Investment Objective Infosys Ltd. Software 6.56 Corporation Ltd. Petroleum Products 0.71
to provide returns before expenses that ICICI Bank Ltd. Banks 5.85 Oil & Natural Gas
closely correspond to the total returns of Tata Consultancy Corporation Ltd. Oil 0.70
the Nifty 50 subject to tracking errors. Services Ltd. Software 5.35 Shree Cement Ltd. Cement 0.65
However, there is no assurance or
guarantee that the investment objective of Kotak Mahindra Bank Ltd. Banks 4.84 Cipla Ltd. Pharmaceuticals 0.60
the scheme will be achieved. Hindustan Unilever Ltd. Consumer Non Durables 4.58 IndusInd Bank Ltd. Banks 0.59
Available Plan ITC Ltd. Consumer Non Durables 4.18 Hero MotoCorp Ltd. Auto 0.58
Regular Plan Larsen And Toubro Ltd. Construction Project 2.79 Indian Oil Corporation Ltd Petroleum Products 0.58
Ratios Bharti Airtel Ltd. Telecom - Services 2.75 Tata Steel Limited. Ferrous Metals 0.57
Axis Bank Ltd Banks 2.39 Adani Port and Special
Portfolio Turnover: 23.84%
State Bank Of India Banks 2.11 Economic Zone Limited Transportation 0.54
Tracking Error: 0.09% Asian Paints Ltd. Consumer Non Durables 2.10 Grasim Industries Ltd. Cement 0.52
Bajaj Finance Limited Finance 1.64 Eicher Motors Ltd Auto 0.51
Nestle India Ltd. Consumer Non Durables 1.62 UPL Ltd Pesticides 0.50
Through Exchange:1 Unit,
Through AMC: 50000 Units, Maruti Suzuki India Limited Auto 1.59 JSW Steel Ltd. Ferrous Metals 0.41
Ideal Investment Horizon: 3 years and HCL Technologies Ltd. Software 1.32 GAIL (India) Ltd. Gas 0.40
above
National Thermal Power Hindalco Industries Ltd Non - Ferrous Metals 0.39
Load Structure Corporation Limited Power 1.14 Bharti Infratel Ltd. Telecom - Equipment &
Entry Load: Nil. (applicable for all plans) Accessories 0.38
Exit Load: Nil (applicable for all plans) Power Grid Corporation
Of India Ltd Power 1.14 Tata Motors Ltd. Auto 0.36
Titan Company Ltd. Consumer Durables 1.09 Vedanta Ltd. Non - Ferrous Metals 0.33
Regular: 0.14%
Dr Reddys Laboratories Ltd Pharmaceuticals 1.06 Zee Entertainment
Sun Pharmaceuticals Enterprises Ltd Media and Entertainment 0.32
Industries Ltd. Pharmaceuticals 1.06 Equity & Equity
Ultratech Cement Ltd. Cement 1.05 Related - Total 99.96
Tech Mahindra Ltd. Software 0.98 Net Current Assets/
Britannia Industries Ltd. Consumer Non Durables 0.88 (Liabilities) 0.04
Coal India Ltd. Minerals/Mining 0.82 Grand Total 100.00
Wipro Ltd. Software 0.82

4.53 2.75 2.28
26.20 15.03 13.36 11.34 10.29 2.79 2.72 8.71
Banks Software Consumer Non Durables Petroleum Products Finance Auto

Construction Project Telecom - Services Pharmaceuticals Power REST
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Investment in stocks comprising the underlying index
and endeavours to track the benchmark index
Kotak Nifty ETF NAV as on March 31, 2020: `89.1641

7
46
KOTAK SENSEX ETF
An open-ended scheme replicating/ tracking S&P BSE sensex index

AUM: `10.72 crs Equity & Equity related Sun Pharmaceuticals
Benchmark: S&P BSE SENSEX TRI
Allotment date: June 6, 2008 HDFC Bank Ltd. Banks 11.78 Industries Ltd. Pharmaceuticals 1.23
Folio count: 1,255 Reliance Industries Ltd. Petroleum Products 11.36 Power Grid Corporation
Investment Objective HDFC Ltd. Finance 9.03 Of India Ltd Power 1.21
Infosys Ltd. Software 7.72 Ultratech Cement Ltd. Cement 1.18
to provide returns before expenses that
closely correspond to the total returns of ICICI Bank Ltd. Banks 6.71 National Thermal Power
the BSE SENSEX subject to tracking errors.
However, there is no assurance or.......... Tata Consultancy Corporation Limited Power 1.16
guarantee that the investment objective of Services Ltd. Software 6.18 Tech Mahindra Ltd. Software 1.12
the scheme will be achieved.
Hindustan Unilever Ltd. Consumer Non Durables 5.29 Mahindra & Mahindra Ltd. Auto 0.88
Available Plan
Regular Plan Kotak Mahindra Bank Ltd. Banks 4.93 Bajaj Auto Ltd. Auto 0.85
Ratios ITC Ltd. Consumer Non Durables 4.73 Oil & Natural Gas
Larsen And Toubro Ltd. Construction Project 3.17 Corporation Ltd. Oil 0.69
Bharti Airtel Ltd. Telecom - Services 2.87 IndusInd Bank Ltd. Banks 0.68
Tracking Error: 0.11%
Axis Bank Ltd Banks 2.79 Hero MotoCorp Ltd. Auto 0.67
Minimum Investment Amount Asian Paints Ltd. Consumer Non Durables 2.42 Tata Steel Limited. Ferrous Metals 0.66
Through AMC: 10000 Units, State Bank Of India Banks 2.38 Equity & Equity
Ideal Investment Horizon: 3 years and Nestle India Ltd. Consumer Non Durables 1.89 Related - Total 99.97
above
Maruti Suzuki India Limited Auto 1.84 Net Current Assets/
Load Structure
Entry Load: Nil. (applicable for all plans) Bajaj Finance Limited Finance 1.76 (Liabilities) 0.03
Exit Load: Nil (applicable for all plans) HCL Technologies Ltd. Software 1.53 Grand Total 100.00
Titan Company Ltd. Consumer Durables 1.26
Regular: 0.28%

11.36 4.24 2.87 1.26
29.27 16.55 14.33 10.79 3.17 2.37 3.79
Banks Software Consumer Non Durables Petroleum Products Finance Auto Construction Project
Telecom - Services Power Consumer Durables REST
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Kotak Sensex ETF NAV as on March 31, 2020: `304.4643

7
47
KOTAK BANKING ETF
An open-ended scheme replicating/ tracking nifty bank index

AUM: `4,750.28 crs Equity & Equity related Bank Of Baroda Banks 1.07
Benchmark: Nifty Bank Index TRI
HDFC Bank Ltd. Banks 29.74 RBL Bank Ltd Banks 1.06
Allotment date: December 04, 2014
Folio count: 17,986 ICICI Bank Ltd. Banks 19.32 IDFC First Bank Limited Banks 0.72
Kotak Mahindra Bank Ltd. Banks 16.00 Punjab National Bank Banks 0.62
The investment objective of the scheme is Axis Bank Ltd Banks 12.62 Equity & Equity
to provide returns before expenses that State Bank Of India Banks 12.54 Related - Total 99.99
closely correspond to the total returns of
stocks as represented by the Nifty Bank IndusInd Bank Ltd. Banks 3.52 Net Current Assets/
Index subject to tracking errors. There is no Bandhan Bank Limited. Banks 1.42 (Liabilities) 0.01
assurance or guarantee that the investment
objective of the scheme will be achieved. Federal Bank Ltd. Banks 1.36 Grand Total 100.00
Available Plan/Options
Regular Plan SECTOR ALLOCATION (%)
Option - Dividend Payout
Ratios
99.99 0.01

Banks Net Current Assets
Through AMC: 15000 Units,
Ideal Investment Horizon: 3 years and.......
above
Load Structure
Regular: 0.18%

Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Kotak Banking ETF NAV as on March 31, 2020: `193.6466

7
48
KOTAK PSU BANK ETF
An open-ended scheme replicating/ tracking nifty PSU bank index

(w.e.f. May 09, 2019)
Assets Assets
AAUM: `21.72 crs
AUM: `18.81 crs Equity & Equity related Bank of Maharashtra Banks 1.93
Benchmark: Nifty PSU Bank TRI State Bank Of India Banks 27.26 UCO Bank Banks 1.93
Allotment date: November 8, 2007 Bank Of Baroda Banks 22.30 The Jammu and
Folio count: 2,786 Punjab National Bank Banks 12.84 Kashmir Bank Ltd. Banks 1.76
Investment Objective Canara Bank Banks 11.55 Punjab & Sind Bank Banks 0.57
The investment objective of the scheme is Union Bank Of India Banks 6.69 Equity & Equity
to provide returns that closely correspond
to the total returns of Nifty PSU Bank Index, Bank of India Banks 5.89 Related - Total 99.96
subject to tracking errors. However, there is Central Bank Of India Banks 2.60 Net Current Assets/
no assurance or guarantee that the Indian Bank Banks 2.44 (Liabilities) 0.04
investment objective of the scheme will be Indian Overseas Bank Banks 2.20
achieved. Grand Total 100.00
Available Plan
Regular Plan
Ratios
99.96 0.04

Banks Net Current Assets
Through AMC: 10000 Units,
Ideal Investment Horizon: 3 years and
above
Load Structure
Regular: 0.49%
Product Label
Riskometer
Moderate Mo
t el y d
era Higerat
odLow h e
M
ly
Low
High
LOW HIGH
Kotak PSU Bank ETF NAV as on March 31, 2020: `130.8735

7
49
Scheme Performances as on March 31, 2020
Kotak Standard Multicap Fund - Growth
Kotak Standard Multicap Kotak Standard Multicap
Nifty 200 TRI# ALPHA Nifty 50 TRI## Nifty 200 TRI# Nifty 50 TRI##
Fund - Growth Fund - Growth
Since Inception 9.87% 6.94% 2.93% 6.90% 27,010 20,306 20,225
Last 1 Year -23.70% -25.91% 2.21% -24.85% 7,630 7,409 7,515
Last 3 Years -2.05% -2.39% 0.34% -0.81% 9,397 9,300 9,757
Last 5 Years 3.44% 1.42% 2.01% 1.56% 11,842 10,733 10,807
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 Emerging Equity Fund - Growth

Kotak Emerging Equity Nifty Midcap Kotak Emerging Equity Nifty Midcap
ALPHA Nifty 50 TRI## Nifty 50 TRI##
Fund - Growth 100 TRI# Fund - Growth 100 TRI#
Since Inception 8.68% 8.39% 0.29% 7.71% 29,537 28,515 26,283
Last 1 Year -23.90% -34.83% 10.93% -24.85% 7,610 6,517 7,515
Last 3 Years -5.61% -11.09% 5.48% -0.81% 8,409 7,026 9,757
Last 5 Years 2.78% -0.95% 3.73% 1.56% 11,469 9,533 10,807
Scheme Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010.
Kotak Equity Opportunities Fund - Growth

Kotak Equity Opportunities Kotak Equity Opportunities
Fund - Growth Nifty 200 TRI# ALPHA Nifty 50 TRI## Nifty 200 TRI# Nifty 50 TRI##
Fund - Growth
Since Inception 15.58% 12.33% 3.25% 12.60% 95,282 61,120 63,464
Last 1 Year -20.97% -25.91% 4.93% -24.85% 7,903 7,409 7,515
Last 3 Years -2.22% -2.39% 0.16% -0.81% 9,347 9,300 9,757
Last 5 Years 2.88% 1.42% 1.45% 1.56% 11,525 10,733 10,807
Kotak Bluechip Fund - Growth

Kotak Bluechip Fund Nifty 50 TRI# ALPHA S&P BSE SENSEX TRI## Kotak Bluechip Fund Nifty 50 TRI# S&P BSE SENSEX TRI##
- Growth - Growth
Since Inception 17.21% 14.59% 2.62% 14.84% 1,52,640 1,03,538 1,07,510
Last 1 Year -21.47% -24.85% 3.38% -22.69% 7,853 7,515 7,731
Last 3 Years -2.24% -0.81% -1.42% 1.07% 9,343 9,757 10,326
Last 5 Years 1.14% 1.56% -0.42% 2.41% 10,583 10,807 11,265
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
Price Return Variant (PRI).
As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007
and TRI Values since 31st May 2007.
Since Inception date of Kotak Bluechip Fund- Dividend plan is 29/12/1998. Alpha is difference of scheme return with benchmark return.
Kotak Small Cap Fund - Growth

Kotak Small Cap Fund - Nifty Small Kotak Small Cap Fund - Nifty Small
Growth Cap 100 TRI# Growth Cap 100 TRI#
Since Inception 11.61% 7.60% 4.01% 11.33% 52,545 30,245 50,610
Last 1 Year -26.90% -45.03% 18.13% -24.85% 7,310 5,497 7,515
Last 3 Years -8.94% -18.94% 10.01% -0.81% 7,549 5,322 9,757
Last 5 Years 0.54% -7.55% 8.08% 1.56% 10,271 6,752 10,807
Scheme Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010.
45
50
Kotak Tax Saver Fund - Growth
Kotak Tax Saver Kotak Tax Saver
Since Inception 9.00% 9.53% -0.53% 10.01% 34,479 36,957 39,354
Last 1 Year -21.27% -26.44% 5.17% -24.85% 7,873 7,356 7,515
Last 3 Years -2.74% -3.14% 0.39% -0.81% 9,199 9,088 9,757
Last 5 Years 1.89% 1.29% 0.60% 1.56% 10,981 10,660 10,807
Kotak India EQ Contra Fund - Growth

Kotak India EQ Contra Kotak India EQ Contra
Since Inception 9.79% 10.96% -1.17% 10.70% 39,408 46,053 44,520
Last 1 Year -25.02% -24.76% -0.26% -24.85% 7,498 7,524 7,515
Last 3 Years -0.95% -1.35% 0.41% -0.81% 9,719 9,600 9,757
Last 5 Years 1.78% 1.84% -0.07% 1.56% 10,921 10,958 10,807
Scheme Inception date is 27/07/2005. Ms. Shibani Kurian has been managing the fund since 09/05/2019.
Kotak Infrastructure and Economic Reform Fund - Growth

Kotak Infrastructure and India Infrastructure Index Kotak Infrastructure and India Infrastructure Index
Economic Reform Fund - Growth (Customised Index by IISL)# Economic Reform Fund - Growth (Customised Index by IISL)#
Since Inception 2.65% -3.03% 5.68% 5.50% 13,730 6,893 19,127
Last 1 Year -30.95% -31.80% 0.85% -24.85% 6,905 6,820 7,515
Last 3 Years -10.75% -11.82% 1.07% -0.81% 7,107 6,854 9,757
Last 5 Years -2.63% -6.07% 3.44% 1.56% 8,752 7,309 10,807
Scheme Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 01/02/2015.
Kotak India Growth Fund - Series 4 - Growth

Kotak India Growth Fund Nifty 200 TRI# ALPHA Kotak India Growth Fund Nifty 200 TRI#
Nifty 50 TRI## Nifty 50 TRI##
- Series 4 - Growth - Series 4 - Growth
Since Inception -11.91% -9.53% -2.39% -7.19% 7,652 8,096 8,543
Last 1 Year -20.04% -25.91% 5.87% -24.85% 7,996 7,409 7,515
Scheme Inception date is 20/02/2018. Mr. Devender Singhal has been managing the fund since 09/05/2019.
MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Alpha is difference of scheme return with benchmark return.

Kotak India Growth Fund Nifty 200 TRI# Kotak India Growth Fund Nifty 200 TRI#
Since Inception -16.70% -12.16% -4.54% -10.17% 7,094 7,838 8,174
Last 1 Year -26.66% -25.91% -0.76% -24.85% 7,334 7,409 7,515
Scheme Inception date is 15/05/2018. Mr. Harish Krishnan has been managing the fund since 15/05/2018.

Kotak India Growth Fund Nifty 50 TRI# Kotak India Growth Fund Nifty 50 TRI#
Since Inception -4.50% -16.62% 12.12% -18.48% 9,297 7,499 7,236
Last 1 Year -10.07% -24.85% 14.78% -25.91% 8,993 7,515 7,409
Scheme Inception date is 31/08/2018. Ms. Shibani Kurian has been managing the fund since 09/05/2019.
51
Kotak Equity Hybrid Fund - Growth
Kotak Equity Hybrid NIFTY 50 Hybrid Composite Kotak Equity Hybrid NIFTY 50 Hybrid Composite
Fund - Growth Debt 65:35 Index# Fund - Growth Debt 65:35 Index#
Since Inception 2.54% 4.54% -2.00% 1.83% 11,452 12,712 11,031
Last 1 Year -17.42% -12.78% -4.63% -24.85% 8,258 8,722 7,515
Last 3 Years -3.27% 2.60% -5.88% -0.81% 9,049 10,802 9,757
Last 5 Years 1.62% 4.24% -2.62% 1.56% 10,837 12,309 10,807
Kotak Equity Hybrid Fund Direct plan Scheme Inception date is 25/11/1999 and Kotak Equity Hybrid Fund Regular plan scheme inception date is 3rd November 2014. Mr. Abhishek Bisen
has been managing the fund since 15/04/2008. Mr. Pankaj Tibrewal has been managing the fund since 25/08/2015.
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
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 Equity Arbitrage Fund - Growth

Kotak Equity Arbitrage Nifty 50 Arbitrage Kotak Equity Arbitrage Nifty 50 Arbitrage
Fund - Growth Index# Fund - Growth Index#
Since Inception 7.37% NA NA 9.90% 28,048 NA 39,333
Last 1 Year 6.26% 6.04% 0.22% -24.85% 10,626 10,604 7,515
Last 3 Years 6.19% 5.26% 0.92% -0.81% 11,975 11,666 9,757
Last 5 Years 6.33% 5.67% 0.67% 1.56% 13,599 13,177 10,807
Scheme Inception date is 29/09/2005. Mr. Hiten Shah has been managing the fund since 03/10/2019.
Kotak Balanced Advantage Fund - Growth

Kotak Balanced NIFTY 50 Hybrid Kotak Balanced NIFTY 50 Hybrid
Advantage Fund - Growth Composite Debt 50:50 Index# Advantage Fund - Growth Composite Debt 50:50 Index#
Since Inception -4.51% -1.73% -2.77% -14.43% 9,263 9,714 7,720
Last 1 Year -10.75% -7.37% -3.38% -24.85% 8,925 9,263 7,515
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.
Kotak Equity Savings Fund - Growth

Kotak Equity Savings 75% NIFTY 50 ARBITRAGE Kotak Equity Savings 75% NIFTY 50 ARBITRAGE
Fund - Growth + 25% Nifty 50 TRI# Fund - Growth + 25% Nifty 50 TRI#
Since Inception 5.44% 5.49% -0.05% 2.87% 13,359 13,392 11,675
Last 1 Year -5.85% -2.01% -3.84% -24.85% 9,415 9,799 7,515
Last 3 Years 3.11% 4.04% -0.93% -0.81% 10,965 11,263 9,757
Last 5 Years 4.66% 4.91% -0.26% 1.56% 12,559 12,713 10,807
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. Arjun
Khanna has been managing the fund since 09/05/2019.
Kotak Liquid Fund - Growth

Kotak Liquid Fund Kotak Liquid Fund NIFTY Liquid Index#
CRISIL 1
- Growth NIFTY Liquid Index# ALPHA CRISIL 1 Year TBill## - Growth Year TBill##
Since Inception 7.35% 7.37% -0.02% 6.14% 32,059 32,137 26,586
Last 1 Year 6.02% 6.04% -0.02% 7.45% 10,602 10,604 10,745
Last 3 Years 6.72% 6.67% 0.06% 6.91% 12,157 12,138 12,221
Last 5 Years 7.11% 7.01% 0.10% 7.11% 14,103 14,036 14,103
Scheme Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007.
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.
52
Kotak Money Market Fund - Growth
Kotak Money Market NIFTY Money Kotak Money Market NIFTY Money
ALPHA CRISIL 1 Year TBill## Market Index#
CRISIL 1 Year TBill##
Fund - Growth Market Index# Fund - Growth
Since Inception 7.40% 7.58% -0.18% 6.12% 33,003 33,950 27,013
Last 1 Year 7.24% 6.71% 0.53% 7.44% 10,724 10,671 10,744
Last 3 Years 7.40% 6.97% 0.43% 6.91% 12,389 12,243 12,221
Last 5 Years 7.55% 7.35% 0.20% 7.11% 14,394 14,260 14,103
Kotak Savings Fund - Growth

Kotak Savings Fund - NIFTY Ultra Short Kotak Savings Fund - NIFTY Ultra Short
ALPHA CRISIL 1 Year TBill## CRISIL 1 Year TBill##
Growth Duration Debt Index# Growth Duration Debt Index#
Since Inception 7.74% 8.14% -0.40% 6.24% 32,094 34,031 25,779
Last 1 Year 7.06% 7.36% -0.30% 7.44% 10,706 10,736 10,744
Last 3 Years 7.21% 7.50% -0.30% 6.91% 12,324 12,427 12,221
Last 5 Years 7.57% 7.73% -0.15% 7.11% 14,411 14,515 14,103
Kotak Banking and PSU Debt Fund - Growth

Kotak Banking and PSU Debt CRISIL Banking and ALPHA CRISIL 1 Year TBill## Kotak Banking and PSU Debt
CRISIL Banking and
PSU Debt Index# PSU Debt Index# CRISIL 1 Year TBill##
Since Inception 7.52% NA NA 6.70% 46,717 NA 39,758
Last 1 Year 10.51% 10.91% -0.40% 7.44% 11,051 11,091 10,744
Last 3 Years 8.23% 8.42% -0.20% 6.91% 12,680 12,749 12,221
Last 5 Years 8.46% 8.67% -0.21% 7.11% 15,016 15,162 14,103
Kotak Low Duration Fund - Growth

Kotak Low Duration Fund - NIFTY Low Duration Kotak Low Duration Fund - NIFTY Low Duration
Growth Debt Index# Growth Debt Index#
Since Inception 7.75% 8.44% -0.68% 6.62% 24,644 26,599 21,683

Last 1 Year 7.77% 7.66% 0.10% 7.44% 10,777 10,766 10,744
Last 3 Years 7.52% 7.37% 0.14% 6.91% 12,431 12,382 12,221
Last 5 Years 8.06% 7.71% 0.35% 7.11% 14,739 14,505 14,103
Kotak Bond Short Term Fund - Growth

Kotak Bond Short Term Fund - NIFTY Short Duration Kotak Bond Short Term Fund - NIFTY Short Duration
Growth
ALPHA CRISIL 1 Year TBill## Growth
CRISIL 1 Year TBill##
Debt Index# Debt Index#
Since Inception 7.73% 7.92% -0.18% 6.14% 38,000 39,184 29,086
Last 1 Year 9.04% 8.80% 0.25% 7.44% 10,904 10,880 10,744
Last 3 Years 7.32% 7.61% -0.29% 6.91% 12,363 12,465 12,221
Last 5 Years 7.79% 7.98% -0.19% 7.11% 14,556 14,688 14,103
53
Kotak Dynamic Bond Fund - Growth
Kotak Dynamic Bond NIFTY Composite Kotak Dynamic Bond NIFTY Composite
Fund - Growth Debt Index# Fund - Growth Debt Index#
Since Inception 8.70% 8.49% 0.21% 6.62% 26,872 26,267 21,378
Last 1 Year 10.68% 11.76% -1.09% 7.44% 11,068 11,176 10,744
Last 3 Years 8.58% 7.81% 0.77% 6.91% 12,804 12,533 12,221
Last 5 Years 9.05% 8.28% 0.77% 7.11% 15,426 14,888 14,103
Kotak Credit Risk Fund - Growth

Kotak Credit Risk Fund - Nifty Credit Risk Kotak Credit Risk Fund - Nifty Credit Risk
Growth Bond Index# ALPHA CRISIL 1 Year TBill## Growth Bond Index# CRISIL 1 Year TBill##
Since Inception 8.27% 9.20% -0.93% 6.89% 21,951 23,898 19,344

Last 1 Year 7.88% 9.23% -1.35% 7.44% 10,788 10,923 10,744
Last 3 Years 6.94% 8.07% -1.13% 6.91% 12,233 12,623 12,221
Last 5 Years 7.98% 8.71% -0.74% 7.11% 14,683 15,193 14,103
Kotak Corporate Bond Fund - Growth

Kotak Corporate Bond CRISIL Corporate Kotak Corporate Bond CRISIL Corporate
Fund - Growth Bond Composite Index# Fund - Growth Bond Composite Index#
Since Inception 8.22% 9.48% -1.26% 6.58% 26,910 31,109 22,217
Last 1 Year 8.88% 11.48% -2.60% 7.44% 10,888 11,148 10,744
Last 3 Years 7.99% 8.04% -0.05% 6.91% 12,595 12,614 12,221
Last 5 Years 8.21% 8.73% -0.52% 7.11% 14,845 15,204 14,103
Kotak Medium Term Fund - Growth

Kotak Medium Term Fund NIFTY Medium Duration Kotak Medium Term Fund NIFTY Medium Duration
ALPHA CRISIL 10 Year Gilt## CRISIL 10 Year Gilt##
- Growth Debt Index# - Growth Debt Index#
Since Inception 8.43% 9.00% -0.57% 9.10% 16,292 16,814 16,913
Last 1 Year 6.59% 10.49% -3.90% 14.55% 10,659 11,049 11,455
Last 3 Years 6.36% 7.73% -1.37% 6.85% 12,035 12,504 12,200
Last 5 Years 7.71% 8.31% -0.60% 8.06% 14,505 14,912 14,737
Kotak Bond Fund - Growth

Kotak Bond Fund NIFTY Medium to Long Kotak Bond Fund NIFTY Medium to Long
- Growth Duration Debt Index# ALPHA CRISIL 10 Year Gilt## - Growth Duration Debt Index# CRISIL 10 Year Gilt##
Since Inception 8.88% NA NA NA 56,486 NA NA
Last 1 Year 11.08% 12.25% -1.17% 14.55% 11,108 11,225 11,455
Last 3 Years 6.85% 7.55% -0.70% 6.85% 12,202 12,444 12,200
Last 5 Years 7.18% 8.18% -1.00% 8.06% 14,149 14,825 14,737
Scheme Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 01/04/2008.
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Kotak Gilt Fund - Growth
Kotak Gilt Fund NIFTY All Duration Kotak Gilt Fund NIFTY All Duration
- Growth G-Sec Index# ALPHA CRISIL 10 Year Gilt##
- Growth G-Sec Index# CRISIL 10 Year Gilt##
Since Inception 9.63% NA NA NA 70,684 NA NA

Last 1 Year 12.27% 13.08% -0.81% 14.55% 11,227 11,308 11,455
Last 3 Years 7.83% 8.15% -0.32% 6.85% 12,541 12,653 12,200
Last 5 Years 8.12% 8.36% -0.24% 8.06% 14,780 14,946 14,737
Kotak Gilt Fund - PF and Trust - Growth

Kotak Gilt Fund - PF and NIFTY All Duration Kotak Gilt Fund - PF and NIFTY All Duration
Trust - Growth G-Sec Index# ALPHA CRISIL 10 Year Gilt## Trust - Growth G-Sec Index# CRISIL 10 Year Gilt##
Since Inception 7.64% 6.11% 1.53% 5.92% 33,432 26,449 25,688
Last 1 Year 12.27% 13.08% -0.81% 14.55% 11,227 11,308 11,455
Last 3 Years 7.83% 8.15% -0.32% 6.85% 12,541 12,653 12,200
Last 5 Years 8.14% 8.36% -0.22% 8.06% 14,797 14,946 14,737
Kotak Debt Hybrid Fund - Growth

Kotak Debt Hybrid CRISIL Hybrid 85 + Kotak Debt Hybrid CRISIL Hybrid 85 +
15 - Conservative Index# ALPHA CRISIL 10 Year Gilt## 15 - Conservative Index# CRISIL 10 Year Gilt##
Since Inception 7.18% 8.12% -0.94% 5.99% 31,053 35,804 25,869
Last 1 Year 0.54% 6.44% -5.89% 14.55% 10,054 10,644 11,455
Last 3 Years 3.52% 6.78% -3.26% 6.85% 11,096 12,179 12,200
Last 5 Years 5.88% 7.86% -1.98% 8.06% 13,313 14,608 14,737
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 Overnight Fund - Growth

Kotak Overnight NIFTY 1D Rate CRISIL 1 Year Kotak Overnight NIFTY 1D Rate CRISIL 1 Year
ALPHA
Fund - Growth Index TBill Fund - Growth Index TBill
Since Inception 5.37% 5.47% -0.11% 7.70% 10,652 10,665 10,938
Last 1 Year 5.16% 5.27% -0.10% 7.45% 10,516 10,527 10,745
Kotak Asset Allocator Fund - Growth

Kotak Asset Allocator NIFTY 50 Hybrid Composite Kotak Asset Allocator NIFTY 50 Hybrid Composite S&P BSE SENSEX
ALPHA S&P BSE SENSEX
Fund - Growth Debt 50:50 Index# TRI## Fund - Growth Debt 50:50 Index# TRI##
Since Inception 13.71% 10.73% 2.98% 12.96% 74,731 49,318 67,345
Last 1 Year -7.01% -7.37% 0.36% -22.69% 9,299 9,263 7,731
Last 3 Years 1.53% 3.93% -2.41% 1.07% 10,465 11,228 10,326
Last 5 Years 4.89% 5.28% -0.38% 2.41% 12,702 12,935 11,265
Scheme Inception date is 09/08/2004. Mr. Devender Singhal & Mr. Arjun Khanna has been managing the fund since 09/05/2019.
Kotak Global Emerging Market Fund - Growth

Kotak Global Emerging MSCI Emerging Market ALPHA Nifty 50 TRI## Kotak Global Emerging MSCI Emerging Market Nifty 50 TRI##
Market Fund - Growth index# Market Fund - Growth index#
Since Inception 2.81% 2.51% 0.30% 5.77% 14,156 13,640 20,190
Last 1 Year -7.02% -12.71% 5.69% -24.85% 9,298 8,729 7,515
Last 3 Years 1.19% 0.95% 0.23% -0.81% 10,360 10,289 9,757
Last 5 Years -0.24% 1.04% -1.28% 1.56% 9,880 10,533 10,807
Scheme Inception date is 26/09/2007. Mr. Arjun Khanna has been managing the fund since 09/05/2019.
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Kotak Gold ETF
Kotak Gold ETF Price of Gold# ALPHA CRISIL 10 Year Gilt## Kotak Gold ETF Price of Gold# CRISIL 10 Year Gilt##
Since Inception 12.32% 13.48% -1.16% 7.16% 43,670 49,767 24,042
Last 1 Year 37.22% 38.24% -1.02% 14.55% 13,722 13,824 11,455
Last 3 Years 13.77% 14.84% -1.06% 6.85% 14,732 15,150 12,200
Last 5 Years 9.59% 10.69% -1.10% 8.06% 15,812 16,624 14,737
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 Nifty ETF

Kotak Nifty ETF Nifty 50 TRI# ALPHA S&P BSE SENSEX TRI## Kotak Nifty ETF Nifty 50 TRI# S&P BSE SENSEX TRI##
Since Inception 5.75% 7.15% -1.41% 7.61% 17,650 20,185 21,072

Last 1 Year -25.13% -24.85% -0.28% -22.69% 7,487 7,515 7,731
Last 3 Years -1.04% -0.81% -0.22% 1.07% 9,692 9,757 10,326
Last 5 Years 0.92% 1.56% -0.64% 2.41% 10,472 10,807 11,265
Scheme Inception date is 02/02/2010. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
Kotak Sensex ETF

Kotak Sensex ETF S&P BSE SENSEX TRI# ALPHA Nifty 50 TRI## Kotak Sensex ETF S&P BSE SENSEX TRI# Nifty 50 TRI##
Since Inception 5.87% 7.04% -1.17% 6.67% 19,633 22,362 21,455
Last 1 Year -22.91% -22.69% -0.22% -24.85% 7,709 7,731 7,515
Last 3 Years 0.81% 1.07% -0.26% -0.81% 10,246 10,326 9,757
Last 5 Years 1.61% 2.41% -0.80% 1.56% 10,832 11,265 10,807
Kotak Banking ETF
Kotak Banking ETF Nifty Bank Index TRI# ALPHA Nifty 50 TRI## Kotak Banking ETF Nifty Bank Index TRI# Nifty 50 TRI##
Since Inception 0.89% 1.31% -0.42% 1.82% 10,484 10,716 11,008
Last 1 Year -37.46% -36.56% -0.90% -24.85% 6,254 6,344 7,515
Last 3 Years -3.81% -3.23% -0.59% -0.81% 8,898 9,062 9,757
Last 5 Years 1.25% 1.67% -0.43% 1.56% 10,640 10,867 10,807
Kotak PSU Bank ETF

Kotak PSU Bank ETF Nifty PSU Bank TRI# ALPHA Nifty 50 TRI## Kotak PSU Bank ETF Nifty PSU Bank TRI# Nifty 50 TRI##
Since Inception -6.26% -4.79% -1.46% 4.61% 4,487 5,439 17,495

Last 1 Year -60.21% -60.03% -0.18% -24.85% 3,979 3,997 7,515
Last 3 Years -28.11% -27.67% -0.45% -0.81% 3,712 3,781 9,757
Last 5 Years -17.51% -16.73% -0.78% 1.56% 3,816 4,000 10,807
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ABOUT OUR FUND MANAGERS
Name: Mr. Harsha Upadhyaya
Mr. Harsha Upadhyaya manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.
Kotak Equity Opportunities Fund (Sep 9, 04), Kotak Standard Multicap Fund (Sep 11, 09), Kotak Tax Saver Fund (Nov. 23,'05).
Business Experience
Mr. Harsha has nearly two decades of rich experience spread over Equity Research and Fund Management. His prior stints have been with companies such as DSP BlackRock, UTI Asset
Management, Reliance Group and SG Asia Securities. Mr. Harsha is a Bachelor of Engineering (Mechanical) from National Institute of Technology, Suratkal, a Post Graduate in Management
(Finance) from Indian Institute of Management, Lucknow and Chartered Financial Analyst from the CFA Institute.
1 YEAR 3 YEAR 5 YEAR Since Inception
Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*
Kotak Equity Opportunities Fund - Growth -20.97 -25.91 -2.22 -2.39 2.88 1.42 15.58 12.33
Kotak Tax Saver Fund - Growth -21.27 -26.44 -2.74 -3.14 1.89 1.29 9.00 9.53
Kotak Standard Multicap Fund - Growth -23.70 -25.91 -2.05 -2.39 3.44 1.42 9.87 6.94
Kotak Equity Opportunities Fund - Gr owth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 09/09/2004. Mr . Harsha Upadhyaya has been managing the fund since 04/08/2012.
Kotak Tax Saver Fund - Growth, *Name of the Benchmark - Nifty 500 TRI, Scheme Inception date is 23/11/2005. Mr . Harsha Upadhyaya has been managing the fund since 25/08/2015.
Kotak Standard Multicap Fund - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 11/09/2009. Mr . Harsha Upadhyaya has been managing the fund since 04/08/2012.
Name: Mr. Harish Krishnan

Mr. Harish Krishnan manages 7 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.
Kotak Bluechip Fund (Feb 04, 03), Kotak Infrastructure & Economic Reform Fund (Feb 25, '08), Kotak India Growth Fund Series 5 (May15, 18), Kotak Balanced Advantage Fund (Aug. 03, 18), Kotak Equity
Savings Fund (Oct. 13' 14), Kotak Focused Equity fund (Jul 16, '19), Kotak Pioneer Fund (Oct 31, '19).
Business Experience
Mr. Harish has a decade of experience spread over Equity Research and Fund Management. Prior to joining Kotak Mutual Fund, he was based out of Singapore and Dubai, managing Kotak's offshore funds. Mr.
Harish has also worked at Infosys Technologies Ltd in his earlier stint. He is a Bachelor of Technology (Electronics & Communications) from Government Engineering College, Trichur, a post Graduate in
Management from Indian Institute of Management, Kozhikode and a Chartered Financial Analyst from the CFA Institute.
Kotak Equity Savings Fund - Growth -5.85 -2.01 3.11 4.04 4.66 4.91 5.44 5.49
Kotak Balanced Advantage Fund - Growth -10.75 -7.37 NA NA NA NA -4.51 -1.73

Kotak Bluechip Fund - Growth -21.47 -24.85 -2.24 -0.81 1.14 1.56 17.21 14.59
Kotak India Growth Fund - Series 5 - Growth -26.66 -25.91 NA NA NA NA -16.70 -12.16
Kotak Infrastructure and Economic
Reform Fund - Growth -30.95 -31.80 -10.75 -11.82 -2.63 -6.07 2.65 -3.03
Kotak Focused Equity fund and Since Kotak Focused Equity fund and Kotak Pioneer Fund has not yet completed 1 year from Inception,
Kotak Pioneer Fund the performance of the scheme is not disclosed.
Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since 09/05/2019. Mr.
Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019.
Kotak Balanced Advantage Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index . Scheme Inception date is 03/08/2018. Mr. Abhishek Bisen & Mr. Harish Krishnan has been managing the
fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019.
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 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 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.
Name: Mr. Pankaj Tibrewal

Mr. Pankaj Tibrewal manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.
Kotak Small Cap Fund (Feb. 24, 05), Kotak Emerging Equity Fund (Mar 30,'07), Kotak Equity Hybrid Fund (Nov. 25,'99)
Business Experience
Mr. Pankaj is a graduate in Commerce from St. Xavier's College, Kolkata and holds a Master's degree in Finance from Manchester University. He has been associated with the mutual fund industry since 2003
where he has managed several debt and equity schemes. He has been a part of the organization since January 2010. Mr. Pankaj's earlier stint was with Principal Mutual Fund.
Kotak Equity Hybrid Fund - Growth -17.42 -12.78 -3.27 2.60 1.62 4.24 2.54 4.54
Kotak Emerging Equity Fund - Growth -23.90 -34.83 -5.61 -11.09 2.78 -0.95 8.68 8.39
Kotak Small Cap Fund - Growth -26.90 -45.03 -8.94 -18.94 0.54 -7.55 11.61 7.60
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.
Name: Mr. Abhishek Bisen

Mr. 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 Experience
Mr. Abhishek has been associated with the company since October 2006 and his key responsibilities include fund management of debt schemes. Prior to joining Kotak AMC, 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).

Scheme Names
Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Kotak Gold ETF 37.22 38.24 13.77 14.84 9.59 10.69 12.32 13.48
Top 3 Kotak Gold Fund - Growth 37.12 38.24 14.15 14.84 9.37 10.69 6.86 8.47
Kotak Gilt Fund - Growth 12.27 13.08 7.83 8.15 8.12 8.36 9.63 NA
Bottom 3 Kotak Balanced Advantage Fund - Growth -10.75 -7.37 NA NA NA NA -4.51 -1.73
Kotak Equity Hybrid - Growth -17.42 -12.78 -3.27 2.60 1.62 4.24 2.54 4.54
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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 Gilt Fund - Growth, *Name of the Benchmark -NIFTY All Duration G-Sec Index, Scheme Inception date is 29/12/1998. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.
Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 Arbitrage + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since
09/05/2019. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019.
Kotak Balanced Advantage Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index . Scheme Inception date is 03/08/2018. Mr. Abhishek Bisen & Mr. Harish Krishnan has
been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019.
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.
Name: Mr. Deepak Agrawal

Mr. Deepak Agrawal manages 12 funds & All FMPs of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided
herein are of regular plan.
(Kotak Bond Short Term Fund (May. 02, 02), Kotak Dynamic Bond Fund (May. 26, 08), Kotak Money Market Fund (Nov. 25, 07), Kotak Liquid Fund (Nov. 04, 03), Kotak Banking
and PSU Debt Fund (Dec. 29, 98), Kotak Savings Fund (Jul. 11, 07), Kotak Credit Risk Fund (May 11, '10), Kotak Medium Term Fund (Mar. 21, 14), Kotak Low Duration Fund (Jan.
31, 15), Kotak Corporate Bond Fund (Sep. 21, 07), Kotak Overnight Fund (Jan. 15, 19) All Fixed Maturity Plans in existence (Aug. 13,'15), Kotak Floating Fund (May. 14, 2019).
Business Experience
Mr. Deepak's career has started from Kotak AMC when he joined the organization in December 2002 where he was initially in Research, Dealing and then moved into Fund
Management from November 2006. Mr. Deepak is a Post Graduate in Commerce, Chartered Account and Company Secretary.

Scheme Names
Kotak Dynamic Bond Fund - Growth 10.68 11.76 8.58 7.81 9.05 8.28 8.70 8.49
Top 3 Kotak Banking and PSU Debt Fund - Growth 10.51 10.91 8.23 8.42 8.46 8.67 7.52 NA
Kotak Bond Short Term Fund - Growth 9.04 8.80 7.32 7.61 7.79 7.98 7.73 7.92
Kotak Medium Term Fund - Growth 6.59 10.49 6.36 7.73 7.71 8.31 8.43 9.00
Bottom 3 Kotak Liquid Fund - Growth 6.02 6.04 6.72 6.67 7.11 7.01 7.35 7.37
Kotak Overnight Fund - Growth 5.16 5.27 NA NA NA NA 5.37 5.47
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 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.
Kotak Overnight Fund - Growth, *Name of the Benchmark - NIFTY 1D Rate Index, Scheme Inception date is 15/01/2019. Mr. Deepak Agrawal has been managing the fund since 15/01/2019.
Name: Mr. Devender Singhal

Mr. Devender Singhal manages 8 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan.
Kotak Debt Hybrid Fund - Growth (Dec. 02, 03), Kotak India Growth Fund Series-4 (Feb. 14, '18), Kotak NV20 ETF (Dec. 01, '15), Kotak Banking ETF (Dec. 10, '14), Kotak Sensex ETF (Jun. 06, '08), Kotak Asset
Allocator Fund (Aug,. 09, '04), Kotak PSU Bank ETF (Nov. 08, 07), Kotak Nifty ETF (Feb. 02, '10)
Business Experience
Mr. Devender has been associated with the Kotak Group since July 2007. He is responsible for the research coverage of FMCG, Automobiles and Media sectors at Kotak AMC since Feb 2009. Devender has an
overall working experience of 14 years in equity research and fund management. Prior to joining Kotak AMC, Devender worked with the PMS divisions of Kotak, Religare, Karvy and P N Vijay Financial Services.

Scheme Names
Kotak Debt Hybrid Fund - Growth 0.54 6.44 3.52 6.78 5.88 7.86 7.18 8.12
Top 3 Kotak Asset Allocator Fund - Growth -7.01 -7.37 1.53 3.93 4.89 5.28 13.71 10.73
Kotak India Growth Fund -
-20.04 -25.91 NA NA NA NA -11.91 -9.53
Series 4 - Growth
Kotak Nifty ETF -25.13 -24.85 -1.04 -0.81 0.92 1.56 5.75 7.15
Bottom 3 Kotak Banking ETF -37.46 -36.56 -3.81 -3.23 1.25 1.67 0.89 1.31
Kotak PSU Bank ETF -60.21 -60.03 -28.11 -27.67 -17.51 -16.73 -6.26 -4.79
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 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.
55
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 Nifty ETF, *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 02/02/2010. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
Kotak Banking ETF, *Name of the Benchmark - Nifty Bank TRI, Scheme Inception date is 10/12/2014. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
Kotak PSU Bank ETF - *Name of the Benchmark Nifty PSU Bank TRI, Scheme Inception date is 08/11/2007. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
Name: Ms. Shibani Kurian

Ms. 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 Experience
Ms. 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 Growth Fund Series 7 - Growth -10.07 -24.85 NA NA NA NA -4.50 -16.62
Kotak India EQ Contra Fund - Growth -25.02 -24.76 -0.95 -1.35 1.78 1.84 9.79 10.96
Since Kotak Focused Equity fund has not yet completed 1 year from Inception,
Kotak Focused Equity fund
the performance of the scheme is not disclosed.
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.
55
58
Name: Mr. Arjun Khanna
Mr. Arjun Khanna manages 2 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 Global Emerging Market Fund - Growth (Sep. 26, '07), Kotak Pioneer Fund (Oct 31, '19).
Business Experience
Mr. 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 Asset Allocator Fund - Growth -7.01 -7.37 1.53 3.93 4.89 5.28 13.71 10.73
Kotak Global Emerging Market Fund - Growth -7.02 -12.71 1.19 0.95 -0.24 1.04 2.81 2.51
Since Kotak Pioneer Fund fund has not yet completed 1 year from Inception,
Kotak Pioneer Fund fund the performance of the scheme is not disclosed.
Kotak Asset Allocator Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index, Scheme Inception date is 09/08/2004. Mr. Devender Singhal & Mr. Arjun Khanna has been
managing the fund since 09/05/2019.
Kotak 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.
Name: Mr. Satish Dondapati

Mr. 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 Experience
Mr. 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 Gold ETF 37.22 38.24 13.77 14.84 9.59 10.69 12.32 13.48
Kotak NV20 ETF -20.87 -18.55 4.30 5.52 NA NA 7.35 7.01
Kotak Sensex ETF -22.91 -22.69 0.81 1.07 1.61 2.41 5.87 7.04
Kotak Nifty ETF -25.13 -24.85 -1.04 -0.81 0.92 1.56 5.75 7.15
Kotak Banking ETF -37.46 -36.56 -3.81 -3.23 1.25 1.67 0.89 1.31
Kotak PSU Bank ETF -60.21 -60.03 -28.11 -27.67 -17.51 -16.73 -6.26 -4.79
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 NV20 ETF - *Name of the Benchmark Nifty 50 Value 20 TRI, Scheme Inception date is 01/12/2015. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
Kotak Sensex ETF, *Name of the Benchmark - S&P BSE SENSEX TRI, Scheme Inception date is 06/06/2008. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
Kotak Nifty ETF, *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 02/02/2010. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
Kotak Banking ETF, *Name of the Benchmark - Nifty Bank TRI, Scheme Inception date is 10/12/2014. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
Kotak PSU Bank ETF, *Name of the Benchmark - Nifty PSU Bank TRI, Scheme Inception date is 08/11/2007. Mr. Devender Singhal & Mr. Satish Dondapati has been managing the fund since 09/05/2019.
Name: Mr. Hiten Shah

Mr. Hiten Shah manages 3 fund of Kotak Mahindra Mutual Fund Different plans shall have a different expense structure. The performance details provided herein are of regular
plan.
Kotak Balanced Advantage Fund (Aug. 03, 18), Kotak Equity Savings Fund (Oct. 13, 2014), Kotak Equity Arbitrage Fund (Sep. 29, 05)
Business Experience
Mr. 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
Kotak Equity Arbitrage Fund - Growth 6.26 6.04 6.19 5.26 6.33 5.67 7.37 NA
Kotak Balanced Advantage Fund - Growth -10.75 -7.37 NA NA NA NA -4.51 -1.73
Kotak Equity Arbitrage Fund - Growth, *Name of the Benchmark - Nifty 50 Arbitrage Index, Scheme Inception date is 29/09/2005. Mr. Hiten Shah has been managing the fund since 03/10/2019.
Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 Arbitrage + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Harish Krishnan has been managing the fund since
09/05/2019. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Mr. Hiten Shah has been managing the fund since 03/10/2019.
Kotak Balanced Advantage Fund - Growth, *Name of the Benchmark - NIFTY 50 Hybrid Composite Debt 50:50 Index . Scheme Inception date is 03/08/2018. Mr. Abhishek Bisen & Mr. Harish Krishnan has
been managing the fund since 03/08/2018. Mr. Hiten Shah has been managing the fund since 03/10/2019.
59
DIVIDEND HISTORY
Equity Schemes
Kotak Equity Arbitrage Fund - Monthly Dividend Option Kotak Tax Saver Fund
Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit
Mar-23-20 10.7522 0.0737 Mar-26-20 13.818 0.2878
Feb-24-20 10.7462 0.0416 Dec-24-19 19.111 0.3346
Jan-27-20 10.7453 0.0412 Sep-26-19 18.653 0.3108
Dec-23-19 10.7264 0.0338 Jun-26-19 19.498 0.3488
Nov-25-19 10.7386 0.0413 Mar-28-19 19.033 0.3276
Oct-29-19 10.7421 0.0376 Dec-24-18 18.125 0.3276
Kotak Equity Arbitrage Fund - Fortnightly Dividend Option Kotak Emerging Equity Fund
Mar-23-20 23.1034 0.0593 May-24-19 23.623 1.6123
Mar-09-20 23.0833 0.0415 Mar-23-18 26.1532 2.674
Feb-24-20 23.0828 0.0411 May-26-17 26.01 1.59
Feb-10-20 23.092 0.0492 May-27-16 21.1956 1.3
Jan-27-20 23.0858 0.0437 Apr-28-15 21.499 2.1
Jan-13-20 23.0964 0.0531 May-02-14 13.0728 0.5
Kotak Equity Arbitrage Fund - Bimonthly Dividend Kotak Asset Allocator Fund
Mar-23-20 20.1478 0.2157 Aug-30-10 37.774 Individual/ HUF: 0.8784
Jan-27-20 20.1184 0.1401 Others: 0.8186
Nov-25-19 20.1331 0.1647
Sep-23-19 20.1243 0.1643
Jul-22-19 20.1521 0.1991 Kotak Standard Multicap Fund
May-27-19 20.2374 0.2404 Record Date Cum Dividend NAV `/Unit
Sep-24-19 24.035 1.2024
Kotak Bluechip Fund - Dividend Sep-24-18 23.504 1.3281
Sep-27-17 23.5921 1.5
Record Date Cum Dividend NAV `/Unit Sep-30-16 21.3488 1.25
Oct-12-15 19.739 1.00
Dec-23-19 37.059 2.5606
Sep-26-14 17.791 1.00
Dec-27-18 32.943 0.8677
Mar-23-18 35.3566 3.604
Dec-28-17 39.2181 1.52 Kotak Equity Saving Fund - Monthly Dividend Option
Jun-28-17 39.0457 1.5
Record Date Cum Dividend NAV `/Unit
Mar-23-17 35.3566 3.604
Mar-12-20 10.6721 0.037
Feb-12-20 11.6096 0.0386
Kotak India EQ Contra Fund Jan-13-20 11.5748 0.0486
Dec-12-19 11.4998 0.0428
Nov-13-19 11.5041 0.044
Jul-25-19 20.628 1.8797 Oct-14-19 11.3057 0.0452
Mar-23-18 23.714 4.778
Jul-28-17 23.4326 0.7
Jul-15-16 19.6923 0.5 Kotak Equity Saving Fund - Quarterly Dividend
Nov-20-15 18.54 0.5
Jul-25-14 18.227 1 Record Date Cum Dividend NAV `/Unit
Dec-20-19 11.3744 0.0329
Sep-20-19 11.0934 0.1354
Kotak Equity Opportunities Fund Jun-20-19 11.2538 0.1576
Mar-20-19 11.2372 0.1553
Record Date Cum Dividend NAV `/Unit Dec-20-18 11.1696 0.1341
Feb-26-20 25.006 0.4533 Sep-21-18 11.3014 0.1739
Nov-26-19 24.65 0.4498
Aug-23-19 22.548 0.4011
Kotak Infrastructure and Economic Reform Fund
May-27-19 25.209 0.4249
Feb-26-19 23.43 0.6259 Record Date Cum Dividend NAV `/Unit
Nov-27-18 23.714 0.5489 Feb-21-19 16.252 0.4356
Feb-28-18 20.5821 0.625
Feb-23-17 17.5644 0.5
Kotak Small Cap Fund
Jun-23-15 15.2601 0.5
Feb-27-20 38.797 2.8244 Hybrid Schemes
Feb-20-19 33.152 0.8942
Kotak Equity Hybrid Fund
Feb-28-18 45.3733 1.265
Feb-27-17 36.4033 1.45 Record Date Cum Dividend NAV `/Unit
Feb-23-16 26.77 1
Dec-26-19 15.994 0.139
Feb-27-15 30.866 1
Sep-25-19 15.339 0.1301
Jun-25-19 15.572 0.1398
Mar-25-19 14.86 0.0858
Feb-25-19 14.326 0.1053
Jan-25-19 14.459 0.108
60
Kotak Debt Hybrid Fund - Monthly Dividend Kotak Bond Short Term Fund - Half Yearly Dividend
Mar-12-20 11.269 Individual/ HUF: 0.0545 Mar-20-19 12.6446 Individual/ HUF: 0.0039
Others: 0.0504 Others: 0.0036
Feb-12-20 11.9889 Individual/ HUF: 0.0558 Sep-21-18 12.0475 Individual/ HUF: 0.0042
Jan-13-20 11.8876 Individual/ HUF: 0.0591 Mar-20-18 11.799 Individual/ HUF: 0.0101
Kotak Debt Hybrid Fund - Quarterly Dividend Kotak Credit Risk Fund - Monthly Dividend
Dec-20-19 13.5893 Individual/ HUF: 0.1823 Feb-12-20 10.4454 Individual/ HUF: 0.1068
Sep-20-19 13.3629 Individual/ HUF: 0.197 Jan-13-20 10.3956 Individual/ HUF: 0.0709
ETF Schemes Kotak Credit Risk Fund - Quarterly Dividend

Kotak PSU Bank ETF
Record Date Cum Dividend NAV `/Unit Mar-20-20 10.7613 Individual/ HUF: 0.0446
Mar-10-17 334.3964 0.2 Others: 0.0413
Feb-21-13 358.8668 19.00 Dec-20-19 11.0843 Individual/ HUF: 0.1698
Others: 0.1572
Sep-20-19 11.0638 Individual/ HUF: 0.181
Kotak SENSEX ETF
Others: 0.1676
Mar-11-17 297.6072 7.50
Kotak Credit Risk Fund - Annual Dividend
Mar-10-17 297.6072 7.50
Jun-18-13 201.3164 7.00 Record Date Cum Dividend NAV `/Unit
Mar-12-20 11.0635 Individual/ HUF: 0.7027
Others: 0.6507
Kotak Nifty ETF Mar-12-19 10.8959 Individual/ HUF: 0.4539
Record Date Cum Dividend NAV `/Unit Others: 0.4203
Mar-10-17 904.9522 10.00
Others: 0.4243
May-06-16 785.7880 11.00
May-06-13 613.1266 11.00
Kotak Savings Fund - Monthly Dividend
Debt Schemes Record Date Cum Dividend NAV `/Unit

Kotak Bond Fund Regular Plan - Quarterly Dividend Option
Others: 0.0207
Record Date Cum Dividend NAV `/Unit Feb-12-20 10.4493 Individual/ HUF: 0.0386
Others: 0.0357
Dec-20-19 12.139 Individual/ HUF: 0.3879
Jan-13-20 10.4491 Individual/ HUF: 0.0384
Others: 0.3592
Others: 0.0356
Others: 0.1104
Jun-20-17 11.1699 Individual/ HUF: 0.1876
Others: 0.1738 Kotak Dynamic Bond Fund - Monthly Dividend
Kotak Bond Fund Regular Plan - Annual Dividend Feb-12-20 22.1892 Individual/ HUF: 0.3016
Others: 0.2793
Mar-20-14 21.2977 Individual/ HUF: 0.2158 Others: 0.1508
Others: 0.2067 Dec-12-19 21.7717 Individual/ HUF: 0.0009
Others: 1.2006
Kotak Dynamic Bond Fund - Quarterly Dividend

Kotak Bond Short Term Fund - Monthly Dividend
Others: 0.0074 Dec-20-19 11.3558 Individual/ HUF: 0.1344
Feb-12-20 10.205 Individual/ HUF: 0.0917 Others: 0.1244
Others: 0.0849 Sep-20-19 11.3224 Individual/ HUF: 0.1564
Jan-13-20 10.1606 Individual/ HUF: 0.0597 Others: 0.1448
Others: 0.0553
61
Debt Schemes
Kotak Corporate Bond Fund - Regular Plan Monthly Dividend Kotak Banking and PSU Debt Fund - Monthly Dividend
Others: 2.7718
Others: 0.0055
Feb-12-20 1057.3985 Individual/ HUF: 7.8312
Others: 7.2518
Others: 0.1082
Others: 4.8814
Others: 0.0668
Kotak Corporate Bond Fund - Regular Quarterly Dividend Kotak Banking and PSU Debt Fund - Annual Dividend
Jun-20-17 1070.4266 Individual/ HUF: 15.966 Mar-15-17 16.8762 Individual/ HUF: 1.0169
Dec-20-16 1070.3117 Individual/ HUF: 17.6919 Mar-20-15 16.7914 Individual/ HUF: 0.9986
Kotak Low Duration Fund - Regular Plan Monthly Dividend

Kotak Gilt Fund Regular Plan - Quarterly Dividend Record Date Cum Dividend NAV `/Unit
Others: 0.3907 Feb-12-20 1031.3412 Individual/ HUF: 5.8048
Dec-20-19 14.6971 Individual/ HUF: 0.0139 Others: 5.3753
Others: 0.0129 Jan-13-20 1029.872 Individual/ HUF: 4.7468
Sep-20-19 14.7978 Individual/ HUF: 0.2364 Others: 4.3956
Others: 0.2189
Kotak Medium Term Fund - Quarterly Dividend

Kotak Gilt Fund PF and Trust Plan - Quarterly Dividend
Others: 0.1039
Others: 0.3195
Others: 0.167
Others: 0.0106
Others: 0.1463
Others: 0.1782
Kotak Medium Term Fund - Annual Dividend

Kotak Money Market Fund - Monthly Dividend Record Date Cum Dividend NAV `/Unit
Record Date Cum Dividend NAV `/Unit Others: 0.588
Feb-12-20 1014.2905 Individual/ HUF: 3.5574 Mar-12-18 11.0849 Individual/ HUF: 0.4674
Others: 3.3924
Kotak Floating Rate Fund
Others: 0.3166
Others: 8.7285
Others: 3.2647
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.
62
RISK FACTORS
*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.
Contact Details
Agra: 0562-4009647 / 9721333365 Gurgaon: 0124-4165424/26 Patiala: 0175-5015268
Ahmedabad: 079-26779888/ 26766077 Guwahati: 0361-2734784 Patna: 0612-6451120
Ajmer: 0145-2628881 Hubli: 0836-6450140 Pondicherry: 9962029229
Aligarh: 0571-6453223 Hyderabad: 040-23314052 / 53 / 29 Pune: 020- 29528111
Allahabad: 0532-2260072 Indore: 0731-6453390 Raipur: 0771-4270917
Ambala: 0171-4003033 Jabalpur: 9713508228 Rajkot: 0281-6620735
Amritsar: 0183-5018777 Jaipur: 0141-2373879 Ranchi: 0651-6454629/ 2332274/
Anand: 02692-650281 Jalandhar: 0181-2233481/ 9988883566 9709001533
Aurangabad: 0240-6611189 / 90 Jalgaon: 0257-2237131/ 32 Rourkela: 0661-6450114/ 9776640098
Bangalore: 080-61874600 / 01 / 02 / 03 Jammu: 0191-2470779 Rohtak- 0180-4022062
Belgaum- 0831-4089172 Jamnagar: 0288-2555589 Saharanpur - 0132-2724757
Bareilly: 0581-2510521 Jamshedpur: 0657-2317041/6543474/ 9570000685 Salem: 0427- 4960766 / 9843060099
Bhavnagar: 0278-2519544 / 3003130 / Jodhpur: 0291-2630625 Shimla: 0177-6451211/ 2807911
9909973263 Kanpur: 0512-6454641/ 2541017 Silliguri: 0353-2522012
Bhilai: 0788-2225385 Kolhapur: 9823705031 Surat: 0261-4896767/ 4896768
Bhopal: 0755-6461018 Kolkata: 033- 46021037 / 46037141 /4603740 Trichur: 0471-4470134 / 9745002032 /
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Borivali: 8879236208 / 8879236194 Lucknow: 522-4021168/ 4021169 Trivandrum: 0471-4470134/
Calicut: 495-2701031 9745002032
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Goa: 0832-6650490 New Delhi: 011-41100860/65
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Gorakpur: 0551-2204127
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March 31, 2020

Contents Page no.

Source: Motilal Oswal Source: Motilal Oswal

12-month forward Sensex P/E (x)

(Assuming 50% equity

Source: Axis Capital , Internal Estimates

Strategy for Investments in the Current Scenario

Source: Bloomberg , Internal Calculations

Attractive Valuations P/B

% of Top 1000 stocks by market cap trading below 1x P/B

50% 41% 43%

Source: Bloomberg, Internal Calculations

Key Variables & their Impact On Equities

Policy/Reform Initiative Expect improved policy measures reform momentum

Items Mar-20 Feb-20 1 Month Change Mar-19 1 yr Change

Source: RBI; Bloomberg.

RBI Measures Lead To A Fall in 10 Year Gilt

500 AAA AA A BBB

Denotes fall in interest rates

Application amount for fresh subscription

Minimum Additional Amount

Fund Manager: Mr. Harsha PORTFOLIO

Fund Manager: Mr. Pankaj Tibrewal* PORTFOLIO

4.79 20.81 18.29 2.93 10.73 2.38 9.37 1.63 3.77

Scheme Returns (%) 10.11 9.24 5.29 -4.54 -16.04 -41.26

Fund Manager: Mr. Harsha PORTFOLIO

Data as on March 31, 2020

10.39 7.09 3.91 -2.20 -12.05 -37.53

Fund Manager: Ms. Shibani Kurian & PORTFOLIO

Data as on March 31, 2020

This product is suitable for investors who are seeking*:

Fund Manager: Mr. Harish Krishnan* PORTFOLIO

Fund Manager: Mr. Pankaj Tibrewal* PORTFOLIO

Consumer Goods Industrial Manufacturing Chemicals Services Financial Services

Product Label SYSTEMATIC INVESTMENT PLAN (SIP)

Scheme Returns (%) 8.64 6.04 1.37 -8.15 -20.13 -44.41

Fund Manager: Mr. Harsha PORTFOLIO

An open-ended equity scheme following contrarian investment strategy Small

Fund Manager: Ms. Shibani Kurian* PORTFOLIO

Pharma Construction Automobile Telecom Industrial Manufacturing

Product Label SYSTEMATIC INVESTMENT PLAN (SIP)

Scheme Returns (%) 7.57 5.41 2.05 -3.01 -13.87 -43.68

Fund Manager: Mr. Harish Krishnan & PORTFOLIO

Fund Manager: Mr. Devender Singhal* PORTFOLIO

SECTOR ALLOCATION (%)

16.68 4.72 2.73 2.50

Construction Automobile Others Cash & Cash Equivalent Telecom

Data as on March 31, 2020

This product is suitable for investors who are seeking*:

Fund Manager: Mr. Harish Krishnan* PORTFOLIO

SECTOR ALLOCATION (%)

Data as on March 31, 2020

This product is suitable for investors who are seeking*:

ECONOMIC REFORM FUND Medium

Fund Manager: Mr. Harish Krishnan* PORTFOLIO

SECTOR ALLOCATION (%)

2.22 2.72 0.50

Financial Services Others Energy Information Technology Consumer Goods

Data as on March 31, 2020

This product is suitable for investors who are seeking*:

An open-ended scheme investing in arbitrage opportunities High

Fund Manager: Mr. Hiten Shah* Top 10 Holdings

Options: Dividend Payout, Dividend Others 27.77 -27.79