Journey of SIP

DON’T LET MARKET NOISE AFFECT YOUR SIP INVESTMENTS

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Please consult your financial advisor or other professionals before acting on any information in this communication.
 SIP started in Kotak Emerging
Equity Fund – Reg – Growth

SIP Amount ₹25,000

 Year 2008

Invst Nifty
Invst Value
Year Amount Yield (%) Total Units Midcap
(Rs.)
(Rs.) 100 TRI (%)
1 300,000 284,748 (9.16) 24,331 12.52

Source: MFi Explorer. Since Inception: Mar 30, 2007. A year starts from April to March.
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not be
sustained in the future. The returns are calculated by XIRR approach assuming SIP investment of Rs 25000/- on the last working day of every month in the Growth Option of the Fund. XIRR helps in calculating
return on investments given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions.
 Year 2009
Some investors hit the Panic button
& Stop their SIP
Invst Nifty
Invst Value
Year Amount Yield (%) Total Units Midcap 100
(Rs.)
(Rs.) TRI (%)
1 300,000 284,748 (9.16) 24,331 12.52

2 600,000 413,947 (31.54) 68,173 (24.11)

Source: MFi Explorer. Since Inception: Mar 30, 2007. A year starts from April to March.
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not be
sustained in the future. The returns are calculated by XIRR approach assuming SIP investment of Rs 25000/- on the last working day of every month in the Growth Option of the Fund. XIRR helps in calculating
return on investments given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions.
 Year 2010
Investor kept his Patience &
did not lose faith in power of SIP
Invst Nifty
Invst Value
Year Amount Yield (%) Total Units Midcap 100
(Rs.)
(Rs.) TRI (%)
1 300,000 284,748 (9.16) 24,331 12.52

2 600,000 413,947 (31.54) 68,173 (24.11)

3 900,000 1,164,864 17.43 101,877 28.63

Source: MFi Explorer. Since Inception: Mar 30, 2007. A year starts from April to March.
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not be
sustained in the future. The returns are calculated by XIRR approach assuming SIP investment of Rs 25000/- on the last working day of every month in the Growth Option of the Fund. XIRR helps in calculating
return on investments given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions.
 Year 2011, 2012 & 2013
Despite flat market returns,
Investor continues with SIP
Invst Amount Invst Value Nifty Midcap
Year Yield (%) Total Units
(Rs.) (Rs.) 100 TRI (%)
1 300,000 284,748 (9.16) 24,331 12.52
2 600,000 413,947 (31.54) 68,173 -24.1
3 900,000 1,164,864 17.43 101,877 28.63
4 1,200,000 1,441,165 9.11 127,266 17.46
5 1,500,000 1,776,694 6.69 155,469 8.85
6 1,800,000 2,206,460 6.69 180,340 8.13

Source: MFi Explorer. Since Inception: Mar 30, 2007. A year starts from April to March.
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not be
sustained in the future. The returns are calculated by XIRR approach assuming SIP investment of Rs 25000/- on the last working day of every month in the Growth Option of the Fund. XIRR helps in calculating
return on investments given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions.
 Year 2019
Valuation of SIP is now

Year
Invst Amount Invst Value
Nifty
Yield (%) Total Units Midcap 100
₹1.14 Cr
(Rs.) (Rs.)
TRI (%)
1 300,000 284,748 (9.16) 24,331 12.52
2 600,000 413,947 (31.54) 68,173 (24.11)
3 900,000 1,164,864 17.43 101,877 28.63
4 1,200,000 1,441,165 9.11 127,266 17.46
5 1,500,000 1,776,694 6.69 155,469 8.85
6 1,800,000 2,206,460 6.69 180,340 8.13 Total Investment
13* (31-Dec-19) 3,825,000 11,391,006 15.89 263,503 12.07 ₹38 Lakh
There were times when the market was falling and when the market was flat,
SIP STILL DELIVERED 15.89% returns!!!
Source: MFi Explorer. Since Inception: Mar 30, 2007. A year starts from April to March.*Year 13 comprises till Dec’19.
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not be
sustained in the future. The returns are calculated by XIRR approach assuming SIP investment of Rs 25000/- on the last working day of every month in the Growth Option of the Fund. XIRR helps in calculating
return on investments given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions.
 Till 31st Mar 20
Investor must remain patient and
resilient and continue with their SIP to
Invst Amount Invst Value Nifty Midcap
Year
(Rs.) (Rs.)
Yield (%) Total Units
100 TRI (%)
take advantage of the volatile markets
1 300,000 284,748 (9.16) 24,331 12.52
2 600,000 413,947 (31.54) 68,173 (24.11)
3 900,000 1,164,864 17.43 101,877 28.63
4 1,200,000 1,441,165 9.11 127,266 17.46
5 1,500,000 1,776,694 6.69 155,469 8.85
6 1,800,000 2,206,460 6.69 180,340 8.13
13* (31-Dec-19) 3,825,000 11,391,006 15.89 263,503 12.07
31-Mar-20 3,900,000 7,687,419 9.98 265,550 5.44

 In the wake of COVID-19 Pandemic, there has been a significant impact on SIP
returns in the near term.
 BUT the SIP returns are still superior to returns from other investment avenues
 Once we arrive at a medical solution and market begins to recover, you are bound
to reap the potential benefits from your SIP investments
Source: MFi Explorer. Since Inception: Mar 30, 2007. A year starts from April to March.
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not be
sustained in the future. The returns are calculated by XIRR approach assuming SIP investment of Rs 25000/- on the last working day of every month in the Growth Option of the Fund. XIRR helps in calculating
return on investments given an initial and final value and a series of cash inflows and outflows with the correct allowance for the time impact of the transactions.
 DON’T LET MARKET NOISE AFFECT YOUR SIP INVESTMENTS

Volatile Market Conditions Impact Your SIP Returns In the Short-Term,

Generally Over the Long-Term SIP investments deliver returns

Ups & Downs in the market helps to reduce the overall cost of SIP investments

For A SIP Investor, Volatility Is Your Friend

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

Please consult your financial advisor or other professionals before acting on any information in this communication. 9
 What Should You Do?

Never Underestimate the Power of Planted Seeds

Treat SIP investments like bamboo tree
One waters the bamboo tree for four years and nothing happens. The seed
remains in the ground. In the fifth year, the bamboo tree goes to touch the
sky. In SIP investments, the fifth year can be any year.

 Start planting your seeds today for a better

financial future tomorrow

 Link every SIP to a goal. Let your money work

harder and enjoy the power of SIP over time

Mutual Fund investments are subject to market risks, read all scheme
related documents carefully. You should consult your financial
advisor or other professionals before acting on any information in this
communication.
 Kotak Emerging Equity Fund - Variance in SIP Returns Generally Reduces
SIP Returns As Investment Horizon Increases
Kotak Emerging Equity Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
10 Yr 17.36 16.59 16.78 16.46 14.71 14.37 15.25 15.63 15.81 15.74 16.77 15.67 9.24
7 Yr 18.16 17.15 17.50 16.94 14.24 13.62 14.85 15.33 15.53 15.33 16.81 15.06 5.29
5 yr 12.49 10.76 11.06 10.25 6.50 5.73 7.69 8.52 8.97 8.88 11.19 8.89 -4.54
3 yr 7.52 5.21 6.34 5.38 -0.41 -1.13 2.53 4.31 5.38 5.28 9.10 5.26 -16.04
1 yr 6.03 2.31 9.04 8.37 -6.96 -6.68 6.33 11.66 14.23 13.93 26.63 13.16 -41.26

Benchmark Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
10 Yr 13.62 12.50 12.60 12.09 9.97 9.50 9.77 10.52 10.81 10.52 11.34 9.91 2.89
7 Yr 14.29 12.88 13.18 12.35 9.19 8.43 8.76 9.83 10.20 9.70 10.87 8.67 -1.76
5 yr 10.19 7.98 8.28 7.19 2.83 1.88 2.57 4.20 4.87 4.32 6.11 3.17 -11.05
3 yr 5.78 2.39 3.25 1.47 -5.49 -6.64 -5.17 -2.13 -0.74 -1.56 1.39 -3.33 -24.95
1 yr 1.67 -4.93 1.10 -1.65 -18.41 -18.53 -11.19 -1.38 3.44 2.42 13.11 -0.97 -51.01
Source: MFi Explorer. As on 31 Mar 2020. Returns are for regular plan. Nifty Midcap 100 TRI is the benchmark for Kotak Emerging Equity Fund
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not
be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an
initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent
month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication.
 Kotak Small Cap Fund – Variance in SIP Returns Generally Reduces
SIP Returns As Investment Horizon Increases
Kotak Small Cap Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
10 Yr 15.00 14.16 14.33 13.81 11.72 11.56 12.70 12.86 12.81 12.87 14.32 13.18 6.04
7 Yr 14.69 13.66 14.06 13.22 10.09 9.81 11.47 11.68 11.59 11.65 13.79 12.04 1.37
5 yr 9.15 7.51 7.95 6.81 2.49 2.24 4.80 5.24 5.29 5.56 8.79 6.48 -8.15
3 yr 3.48 1.29 2.59 1.04 -5.60 -5.51 -0.90 0.25 0.66 1.23 6.58 2.79 -20.13
1 yr 0.14 -2.84 4.71 2.79 -13.99 -11.28 4.48 8.03 8.75 10.65 28.55 14.71 -44.41

Benchmark Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
10 Yr 7.09 6.12 5.95 5.40 5.37 2.26 2.64 3.21 6.22 6.25 7.31 5.55 -3.58
7 Yr 7.62 6.38 6.22 5.30 5.18 0.60 1.02 1.76 4.77 4.82 6.29 3.68 -9.62
5 yr 1.31 -0.56 -0.85 -3.85 -4.08 -7.99 -7.09 -5.85 -1.68 -1.43 0.78 -2.68 -20.45
3 yr -5.02 -7.75 -7.87 -16.59 -17.64 -18.38 -16.61 -14.20 -9.48 -9.04 -5.26 -10.73 -36.40
1 yr -7.59 -11.01 -6.79 -32.25 -29.80 -25.38 -17.09 -10.11 -6.05 -4.31 9.29 -7.68 -62.60
Source: MFi Explorer. As on 31 Mar 2020. Returns are for regular plan. Nifty Smallcap 50 TRI was Benchmark for Kotak Small Cap Fund till 31st Oct 2019. From 1st Nov 2019, Nifty Smallcap 100 TRI is the new
benchmark for the fund. Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past
performance may or may not be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return
on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the
beginning of the subsequent month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication.
 Kotak Equity Opportunities Variance in SIP Returns Generally Reduces
Fund - SIP Returns As Investment Horizon Increases
Kotak Equity
Mar-20
Opportunities Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20
10 Yr 13.97 13.64 13.72 13.18 11.96 11.76 12.36 12.80 13.07 13.15 13.71 12.42 7.09
7 Yr 14.81 14.46 14.63 13.70 11.80 11.41 12.23 12.80 13.14 13.18 13.93 11.92 3.91
5 yr 11.95 11.36 11.53 10.30 7.67 7.21 8.55 9.48 10.11 10.32 11.54 8.85 -2.20
3 yr 10.44 9.55 10.02 7.92 3.60 3.07 5.49 7.24 8.38 8.58 10.47 5.82 -12.05
1 yr 13.39 12.24 15.51 10.16 -1.69 -1.32 7.66 13.03 15.73 16.31 22.39 7.20 -37.53

Benchmark Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
10 Yr 12.49 12.22 12.26 11.91 10.60 10.36 10.93 11.52 11.61 11.57 11.29 9.92 4.66
7 Yr 13.49 13.23 13.33 12.68 10.67 10.22 10.98 11.78 11.87 11.73 11.25 9.15 1.34
5 yr 11.86 11.46 11.59 10.79 8.04 7.53 8.82 10.07 10.35 10.29 9.69 6.86 -3.91
3 yr 12.48 11.68 11.83 10.31 5.51 4.69 6.85 8.94 9.26 8.83 7.51 2.56 -14.70
1 yr 11.72 10.29 12.44 8.75 -4.04 -4.17 4.45 11.66 12.40 11.89 8.82 -4.78 -43.76
Source: MFi Explorer. As on 31 Mar 2020. Returns are for regular plan. Nifty 200 TRI is the benchmark for Kotak Equity Opportunities Fund
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not
be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an
initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent
month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication.
 Kotak Standard Multicap Variance in SIP Returns Generally Reduces
Fund - SIP Returns As Investment Horizon Increases
Kotak Standard
Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
Multicap
10 Yr NA NA NA NA NA NA 14.43 14.80 14.90 14.78 14.81 13.53 8.10
7 Yr 16.77 16.47 16.97 16.14 13.97 13.41 14.31 14.76 14.84 14.54 14.50 12.50 4.31
5 yr 13.51 13.01 13.66 12.58 9.57 8.88 10.38 11.16 11.45 11.22 11.33 8.70 -2.56
3 yr 12.22 11.51 12.81 10.97 5.97 5.06 7.76 9.24 9.76 9.18 9.16 4.62 -13.46
1 yr 13.70 12.77 18.36 13.52 -0.52 -1.10 8.90 13.69 14.67 13.18 13.62 0.14 -42.26

Benchmark Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
10 Yr 12.49 12.22 12.26 11.91 10.60 10.36 10.93 11.52 11.61 11.57 11.29 9.92 4.66
7 Yr 13.49 13.23 13.33 12.68 10.67 10.22 10.98 11.78 11.87 11.73 11.25 9.15 1.34
5 yr 11.86 11.46 11.59 10.79 8.04 7.53 8.82 10.07 10.35 10.29 9.69 6.86 -3.91
3 yr 12.48 11.68 11.83 10.31 5.51 4.69 6.85 8.94 9.26 8.83 7.51 2.56 -14.70
1 yr 11.72 10.29 12.44 8.75 -4.04 -4.17 4.45 11.66 12.40 11.89 8.82 -4.78 -43.76
Source: MFi Explorer. As on 31 Mar 2020. Returns are for regular plan. Nifty 200 TRI is the benchmark for Kotak Standard Multicap Fund
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not
be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an
initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent
month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication.
 Kotak Tax Saver Fund SIP Variance in SIP Returns Generally Reduces
Returns As Investment Horizon Increases
Kotak Tax Saver Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
10 Yr 12.92 12.84 13.14 12.94 11.42 10.99 11.74 12.13 12.33 12.37 12.84 11.59 6.12
7 Yr 13.97 13.99 14.48 14.09 11.77 11.06 12.10 12.63 12.90 12.89 13.55 11.63 3.47
5 yr 11.45 11.32 11.89 11.35 8.04 7.04 8.64 9.43 9.92 10.03 11.06 8.46 -2.82
3 yr 10.20 10.16 11.32 10.42 4.90 3.49 6.36 7.88 8.78 8.77 10.28 5.74 -12.52
1 yr 12.84 13.78 18.82 16.53 0.18 -2.23 7.98 12.57 14.30 14.38 19.27 4.80 -39.77

Benchmark Mar-19 Apr-19 May-19 Jun-19 Jul-19 Aug-19 Sep-19 Oct-19 Nov-19 Dec-19 Jan-20 Feb-20 Mar-20
10 Yr 12.49 12.18 12.23 11.83 10.45 10.20 10.80 11.37 11.46 11.42 11.27 9.92 4.52
7 Yr 13.51 13.19 13.30 12.58 10.47 10.01 10.81 11.59 11.67 11.54 11.24 9.16 1.14
5 yr 11.61 11.11 11.24 10.35 7.46 6.94 8.27 9.50 9.75 9.71 9.38 6.58 -4.47
3 yr 11.64 10.71 10.91 9.23 4.25 3.43 5.69 7.76 8.09 7.73 6.87 2.01 -15.61
1 yr 10.33 8.86 11.44 7.56 -5.51 -5.51 3.50 10.63 11.43 11.16 9.53 -3.97 -44.09
Source: MFi Explorer. As on 31 Mar 2020. Returns are for regular plan. Nifty 500 TRI is the benchmark for Kotak Tax Saver Fund
Disclaimer: SIP is an optional feature offered by Kotak Mutual Fund. This feature does not in any way give assurance of the performance of any of the Funds of Kotak Mutual. Past performance may or may not
be sustained in the future. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an
initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent
month from the date of inception. Please consult your financial advisor or other professionals before acting on any information in this communication.
Thank You
 Disclaimer
All figures and other data given in this document are dated. The same may or may not be relevant at a future date. All reasonable care has been
taken to ensure that the information contained herein is not misleading or untrue at the time of publication. This is for the information of the
person to whom it is provided without any liability whatsoever on the part of Kotak Mahindra Asset Management Co Ltd or any associated
companies or any employee thereof.W e are not soliciting any action based on this material and is for general information only. Investors should
consult their financial advisors if in doubt about whether the product is suitable for them before investing
These materials are not intended for distribution to or use by any person in any jurisdiction where such distribution would be contrary to local law
or regulation. The distribution of this document in certain jurisdictions may be restricted or totally prohibited and accordingly, persons who come
into possession of this document are required to inform themselves about, and to observe, any such restrictions

Mutual Fund investments are subject to market risks, read all scheme related documents carefully
 Kotak Emerging Equity Fund Performance As on 31 Mar 2020
Kotak Emerging Equity Fund - Nifty Midcap 100 Kotak Emerging Equity Nifty Midcap 100
Mar 30, 2007 Growth TRI ALPHA Nifty 50 TRI Fund - Growth TRI Nifty 50 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. Different plans have different expense structure. The performance details
provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the
then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of
10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular
dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is
difference of scheme return with benchmark return.

Kotak Emerging Equity Scheme

Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month
Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
Total amount invested (Rs) 1,570,000 1,200,000 840,000 600,000 360,000 120,000
Total Value as on Mar 31, 2020 (Rs) 3,160,663 1,935,203 1,013,793 534,465 278,244 91,196
Scheme Returns (%) 10.11 9.24 5.29 -4.54 -16.04 -41.26
Nifty Midcap 100 (TRI) Returns (%) 5.73 2.89 -1.76 -11.05 -24.95 -51.01
Alpha* 4.39 6.35 7.06 6.51 8.91 9.76
Nifty Midcap 100 (TRI) (Rs)# 2,316,012 1,390,100 789,281 452,059 238,687 83,486
Nifty 50 (TRI) (Rs)^ 2,392,820 1,521,259 887,420 558,344 293,455 89,524
Nifty 50 (TRI) Returns (%) 6.20 4.64 1.55 -2.83 -12.84 -43.43

Scheme Inception : - March 30, 2007. The returns are calculated by XIRR approach assuming investment of Rs.10,000/- on the 1st working day of every month. XIRR helps in calculating
return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are
assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular
dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is
difference of scheme return with benchmark return. 18
Kotak Smallcap Fund Performance as on 31 Mar 2020
NIFTY Smallcap 100 Kotak Smallcap Fund - NIFTY Smallcap
Feb 24, 2005 Kotak Smallcap Fund - Growth TRI ALPHA Nifty 50 TRI Growth 100 TRI Nifty 50 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.
Different plans have different expense structure. The performance details provided herein are of regular plan.
^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer.
# Name of Scheme Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total
Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return.

Kotak Smallcap Fund

Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month
Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
Total amount invested (Rs) 1,820,000 1,200,000 840,000 600,000 360,000 120,000
Total Value as on Mar 31, 2020 (Rs) 3,655,220 1,636,065 881,677 487,125 259,606 88,756
Scheme Returns (%) 8.64 6.04 1.37 -8.15 -20.13 -44.41
NIFTY Smallcap 100 (TRI) Returns (%) 1.51 -3.58 -9.62 -20.45 -36.40 -62.60
Alpha* 7.13 9.62 10.99 12.30 16.27 18.19
NIFTY Smallcap 100 (TRI) (Rs)# 2,044,646 1,004,314 599,473 354,223 193,544 73,578
Nifty 50 (TRI) (Rs)^ 3,321,414 1,521,259 887,420 558,344 293,455 89,524
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 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.

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 Kotak Standard Multicap Fund Performance as on 31 Mar 2020
Kotak Standard Multicap Fund - Kotak Standard Multicap
Sep 11, 2009 Growth Nifty 200 TRI ALPHA Nifty 50 TRI Fund - Growth Nifty 200 TRI Nifty 50 TRI
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. Kotak Select Focus Fund is renamed as Kotak Standard Multicap Fund with effect from 25th May 2018. TRI Total Return Index, In terms of SEBI
circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme
return with benchmark return.

Kotak Standard Multicap Fund

Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month
Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
Total amount invested (Rs) 1,270,000 1,200,000 840,000 600,000 360,000 120,000
Total Value as on Mar 31, 2020 (Rs) 2,007,532 1,822,286 978,854 562,090 290,459 90,427
Scheme Returns (%) 8.36 8.10 4.31 -2.56 -13.46 -42.26
Nifty 200 (TRI) Returns (%) 4.93 4.66 1.34 -3.91 -14.70 -43.76
Alpha* 3.43 3.44 2.97 1.34 1.23 1.50
Nifty 200 (TRI) (Rs)# 1,659,171 1,523,089 880,790 543,176 284,571 89,264
Nifty 50 (TRI) (Rs)^ 1,659,078 1,521,259 887,420 558,344 293,455 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)
20
Kotak Equity Opportunities Fund Performance as on 31 Mar 2020
Kotak Equity Opportunities Fund Kotak Equity Opportunities
Sep 09, 2004 - Growth Nifty 200 TRI ALPHA Nifty 50 TRI Fund - Growth Nifty 200 TRI Nifty 50 TRI
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
Scheme Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Different plans have different expense structure. The performance details provided herein are of
regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR
(Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. #
Name of Scheme Benchmark. ## Name of Additional Benchmark.
TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant
(PRI). Alpha is difference of scheme return with benchmark return.
Kotak Equity Opportunities Fund
Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month
Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
Total amount invested (Rs) 1,870,000 1,200,000 840,000 600,000 360,000 120,000
Total Value as on Mar 31, 2020 (Rs) 4,469,381 1,728,371 964,882 567,341 297,293 94,027
Scheme Returns (%) 10.39 7.09 3.91 -2.20 -12.05 -37.53
Nifty 200 (TRI) Returns (%) 7.82 4.66 1.34 -3.91 -14.70 -43.76
Alpha* 2.57 2.43 2.57 1.71 2.65 6.23
Nifty 200 (TRI) (Rs)# 3,568,560 1,523,089 880,790 543,176 284,571 89,264
Nifty 50 (TRI) (Rs)^ 3,604,286 1,521,259 887,420 558,344 293,455 89,524
Nifty 50 (TRI) Returns (%) 7.93 4.64 1.55 -2.83 -12.84 -43.43

Scheme Inception : - September 09, 2004. The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on
investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the
beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme
is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return
21
Kotak Tax Saver Fund Performance as on 31 Mar 2020
Kotak Tax Saver Fund -
Nov 23, 2005 Kotak Tax Saver Fund - Growth Nifty 500 TRI ALPHA Nifty 50 TRI Growth Nifty 500 TRI Nifty 50 TRI
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

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

Kotak Tax Saver

Systematic Investment Plan (SIP) If you had invested Rs 10,000 every month
Monthly SIP of Rs 10000 Since Inception 10 years 7 years 5 years 3 years 1 year
Total amount invested (Rs) 1,730,000 1,200,000 840,000 600,000 360,000 120,000
Total Value as on Mar 31, 2020 (Rs) 3,020,283 1,643,069 949,963 558,414 295,005 92,330
Scheme Returns (%) 7.35 6.12 3.47 -2.82 -12.52 -39.77
Nifty 500 (TRI) Returns (%) 6.67 4.52 1.14 -4.47 -15.61 -44.09
Alpha* 0.67 1.60 2.33 1.65 3.09 4.32
Nifty 500 (TRI) (Rs)# 2,864,631 1,511,916 874,492 535,367 280,268 89,006
Nifty 50 (TRI) (Rs)^ 2,890,479 1,521,259 887,420 558,344 293,455 89,524
Nifty 50 (TRI) Returns (%) 6.79 4.64 1.55 -2.83 -12.84 -43.43

Scheme Inception : - November 23, 2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on
investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the
beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme
is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Alpha is difference of scheme return with benchmark return

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Funds Managed by Mr. Harsha Upadhyaya
1 YEAR 3 YEARS 5 YEARS Since Inception
Scheme Names Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*
Kotak Equity 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

Mr. Harsha Upadhyaya manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak
Equity Opportunities Fund (Sep 9, 04), Kotak Standard Multicap Fund (Sep 11, 09), Kotak Tax Saver Fund (Nov. 23,'05). Kotak Equity Opportunities Fund - Growth, *Name of the Benchmark - Nifty 200
TRI, Scheme Inception date is 09/09/2004. Mr . Harsha Upadhyaya has been managing the fund since 04/08/2012. Kotak Tax Saver Fund - Growth, *Name of the Benchmark - Nifty 500 TRI, Scheme
Inception date is 23/11/2005. Mr . Harsha Upadhyaya has been managing the fund since 25/08/2015. Kotak Standard Multicap Fund - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception
date is 11/09/2009. Mr . Harsha Upadhyaya has been managing the fund since 04/08/2012.

Funds Managed by Mr. Pankaj Tibrewal

1 YEAR 3 YEARS 5 YEARS Since Inception
Scheme Names
Scheme Benchmark Scheme Benchmark Scheme Benchmark Scheme Benchmark
Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^*
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

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

23
*Investors should consult their financial advisers, if in doubt about whether the product is suitable for them.
Type of Schemes

Equity Schemes Type of Scheme

Kotak Standard Multicap Fund An open ended equity scheme investing across large cap, mid cap, small cap stocks
Kotak Equity Opportunities
Large & Mid Cap Fund - An open ended equity scheme investing in both large cap and mid cap stocks
Fund
Kotak Emerging Equities Fund Mid Cap Fund- An open ended equity scheme predominantly investing in mid cap stocks

Kotak Smallcap Fund Small Cap Fund - An open ended equity scheme predominantly investing in small cap stocks

Kotak Tax Saver Fund An open ended equity linked saving scheme with a statutory lock in of 3 years and tax benefit