Cover & Outlook September

57

1

August 31, 2015

Dear Friends,

While the month gone by was volatile, it still had a positive note to it. In the debris of the Chinese stock market crash last month, the

value of having a structured, institutionalised, efficiently regulated and professionally driven market was well appreciated. It was just in

good luck that due to the limited FII access to China, the lesson was learnt relatively less painfully.

In a time when Chinese economy and markets are moderating, the projection of India as the fastest growing economy amongst the large

nations is significant. For one, it contrast’s an investment choice for the FII and FDI investor. Secondly, it brings additional attention to

Indian democratic processes and systems, which while slow and deliberative, are relatively transparent and measurable. These traits

provide a macro stability and continuity for an investor who is looking to play for the long term.

Having said that, India would still need to up its game. The pace of reforms is causing concern amongst the industry. Ways and means

would need to be found to obtain operational consensus on key issues, such as GST, land bill, labour reforms, administrative productivity

etc.

More importantly, the incentive structure in the economy still does not favour manufacturing and production. So much so that in sectors

such as steel, it may be cheaper to import from 4000 miles away after having paid duties, rather than to produce in India. This

uncompetitiveness in manufacturing is on account of high cost of power, capital and lower efficiency.

In market economics, the growth usually stems from the bottom, rather than from the top. Therefore government’s attention to push

start-ups and scale up entrepreneurship is praiseworthy. However, for enterprise to become pervasive, the cost of entering a business has

to be low. Moreover, the non-business reasons for failure have to be minimal, and the fear of failure has to be little. Progress towards

bringing down the interest rates to a long term sustainable level; and ensuring a competent bankruptcy code are welcome steps in that

direction.

On a different note, the initiative to launch the payment bank is a welcome step. This will lead to financial inclusion and last mile

integration of the inaccessible and the marginal. If done right, it will reduce the cash component from the economy and expand the

savings net.

However, in the immediate, the market is likely to remain range bound with bouts of sharp volatility. Equity markets are currently wary of

the global risks, and as such are jittery. At that, the impending US Fed rate hike has also caused concerns. In our opinion, these issues have

an impact on the global economy; and from that standpoint, it may impact our capital flows. But only in limited way.

These declines have brought the stocks into the fair value zone. I can’t but glee at the opportunity. This period of next 3-4 months, in our

opinion, is a period of accumulation and consolidation. Investors are advised to buy at dips or invest through SIP.

Regards,

Nilesh Shah

Managing Director

EXPERT SPEAK

Mr. Nilesh Shah

2

INDIA: Global cues dominate markets; Indian macro remains strong

Indian markets relatively better placed to withstand slowdown in China

Impact on India:

RBI: Inflation easing could lead to policy rates cuts by another 25-50bps in Fy16

Monsoons: Cumulative deficit at 12%; Spatial distribution improves; FY16E real GDP growth likely at 7.3%

Licenses for payment banks: To improve financial inclusion

Indradhanush scheme: First step to revamp of PSU banks

Global markets and currency volatility dominated the month of August 2015 and the impact was felt on the Indian equity markets as well with the large cap Nifty index falling 6.5% and the mid cap index falling 4.8% in INR terms. The fall in equity markets were a combination of (a) concerns about Emerging Market growth (China in particular) (b) the fall in commodity prices (resulting in fears of a global deflationary environment) and (c) market uncertainty over policy responses. The devaluation of the Renminbi by China, in an attempt to bolster exports, led to a rise in fears of growth faltering sharply in the Chinese economy which has been struggling to boost domestic consumption.

Global volatility is here to stay. However, India’s macro fundamentals remain strong with a much stronger external sector, fiscal deficit under control and early signs of growth revival (we are estimating real GDP growth of ~7.3% in FY16E). Further, the fall in global commodity prices, while negative for other emerging markets, bodes well for India which is a net importer of oil. Indian equity markets saw outflows with FII turning net sellers in the month of August 2015 to the tune of USD2.5bn. However, the outflows from FIIs in the equity markets was compensated by strong flows from the domestic institutional investors (DIIs) to the tune of USD2.4bn. The recently concluded earnings season was muted in terms of growth (BSE Sensex companies reporting a net profit growth of 1.8% YoY). We are however building in a better H2FY16 partly off a low base and partly reflective of slowly improving demand parameters. Post the recent correction, the large cap Nifty Index is trading at attractive valuations of 17.5xFY16E EPS and 14.5xFY17E EPS (free float adjusted).

On the domestic front, the monsoon session of the Parliament concluded without the passage of the much awaited GST (Goods and Services Tax) Bill. While there are hopes that the Government would reconvene a special session of Parliament for the same, it does appear that the implementation of GST by April 2016 would in all likelihood get delayed. At the same time, the Government has decided to let the Land Acquisition Ordinance lapse following the completion of 6 weeks from the beginning of the monsoon session of the Parliament.

China is clearly at the epicenter of global growth concerns. With a clear intention to improve the competitiveness of Chinese exports, the RMB fixing has been shifted to a new regime of “daily fixing “ rate which now refers to the closing price of USD/CNY spot on previous trading day and also considers demand /supply and market-moves of other major currencies. While the trend in slowdown in China is worrisome, our belief is that it is not a sign of an impending global crisis. Unlike in 1997-98 during the Asian crisis where we saw 40% depreciation in currencies across the region, Central banks today have better forex reserves and lesser reliance on external debt. Further, there is disinflation in the environment and hence Central banks will not be hesitant to inject liquidity. China too still has ample room to ease and in this regard, the People’s Bank of China (PBoC) cut lending rates by 25bps and Reserve requirements (RRR) by 50bps to 18%. The cut in rates is the 5th consecutive one and a 50bps cut in RRR results in an injection of around of USD104bn of liquidity. Further with the RRR at 18%, the room to ease further remains.

The INR has not been spared the impact of the global turmoil. However, the movement of the INR/USD has been far more stable than other emerging market currencies (YTD the INR has depreciated by 4.7%). We however, continue to believe that the movement of the INR/USD would be towards a depreciating bias given the strength of the USD and the possibility of further devaluation of the Yuan. We expect the INR/USD to move in a trading band of 63-67 and to average 65 in FY16 (64 earlier; 61.2 in FY15). The key factors which are structurally supportive of INR are :

a) The impact of lower crude oil prices implying a lower import bill and hence a far more manageable levels of Current Account Deficit. We are factoring in a CAD of 0.8% of GDP in FY16E (1.4% in FY15).

b) With capital flows remaining strong in the last one year, RBI has used the opportunity to build by the forex reserves (USD353bn) which are now close to 9 months of imports.

c) INR/USD has been gradually weakening; the performance of the Indian currency in comparison to other countries in the trade weighted basket had led to the appreciation of the INR in terms of the REER (Real Effective Exchange Rate). Hence the recent depreciation helps correct some of the imbalance.

RBI in their policy meeting on August 4, 2015 left the key policy rates unchanged largely in line with expectations. The key factors that RBI had outlined which would drive policy action going ahead are: a) a greater transmission by banks of the RBI's rate cuts (ii) developments in food prices and the effects of the monsoon (iii) policy efforts to unclog the supply side constraints (iv) US monetary policy.

From here on, we believe that CPI (Consumer Price Inflation) will likely average ~5% in FY16 (from earlier expect 5-5.5%) and would end the year lower than the 6% target set by RBI for March 2016. While the long term inflation target of 4% remains, lower than expected readings in the near term (July CPI at 3.8%) could prompt the RBI to cut rates by another 25-50bps in FY16 (75bps of rate cuts are behind us). RBI will however be watchful of the current volatility in the currency market and the actions of the US Federal Reserve (though the probability of a rate hike in September 2015 has come down).

As the monsoon approaches the end of the season, cumulative rainfall deficit remains 12% below normal, but spatial distribution improved somewhat. The highest deficits have been recorded in the states of Maharashtra, Uttar Pradesh and Punjab. While most of the monsoon season is complete, the recent deterioration in rainfall trends could lead to a negative impact on crop yields. In this context, rainfall trend for the next few weeks will be important for ensuring healthy crop yield. We are currently factoring in 2% growth in agriculture (0.2% in FY15E) and real GDP growth at 7.3% in FY16E (on a Gross Value Added basis).

11 licenses have been awarded by RBI (out of 42 applications) to set up payment banks in the country with a view that these banks would help increase the pace of financial inclusion and improve payment and remittance channels for the common people. The payment banks can essentially accept deposits (capped at INR 100,000per depositor) but by regulation, these banks will not be able to offer loan products and 75% all deposits will be invested in Government securities and the balance in current/time deposits of commercial banks.

RBI has stated that in the future, the licenses for payment banks will be available on tap. We believe that while the setting up of payment banks is a new paradigm in the Indian banking sector, these banks will probably be more complementary than threatening to traditional banks and will help in deeper penetration and wider use of technology among banks.

Government announced the PSB (Public Sector Bank) revamp plan-named “Indradhanush” (or rainbow). The government announced a seven point agenda which includes: (1) Appointments of top management (2) setting up of the Bank Board Bureau, (3) Capitalization of the banks (4) De-stressing banks and improving NPA disclosures, (5) Empowerment, (6) framework of accountability and (7) Governance reforms.

The key measures included appointment of MD and CEO of 5 PSBs, Bank Board Bureau (BBB) to be set up replacing the Appointments Board for appointment of Whole-Time Directors and Non-Executive Chairman of PSBs and a new framework of Key Performance Indicators (KPIs) to be measured for evaluating the performance of PSBs. While most of the reforms were along expected lines, the final implementation of the same is a positive and shows intent on part of the Government to carry through reforms even while there is need to monitor execution of the same.

EQUITY VIEW

Key Events During the Month:• GDP for Q1-FY16 came at 7% against the expectation of 7.4%. • Headline CPI (Consumer Price Index, New Series) for July 2015 declined to 3.78% from 5.40%, against headline expectation of 4.50%. The core inflation

was at 4%. WPI inflation for the July month came at -4%. A straight ninth month in a row negative.• Indian monsoon for June-August stands at only -12% below normal. As per IMD forecast, monsoon in August –September period may remain below

average.• On m-o-m basis, the oil prices were flat but saw volatility in the intra-month. Brent Crude Prices dropped during the month from US$ 52.62 per barrel levels

to a low of US$ 42.49 levels, and closed at 54.15. • Post the Yuan devaluation, Rupee depreciated during the month by approx. Rs 3 to Rs 66.41. REER basis it has done well • China slashed its reserve requirements by 50 bps and also reduced its deposit rate by 25 bps • RBI Forex Reserves stands at around $355.35 bn from 354.56bn last month, up by 0.79 bn. • Global bond yields fell on account of fall in the global equity markets and on the expectation that US Fed may delay the rate hike.

Inflation Scenario

• CPI inflation is ben falling creating a expectation of Rate cut as it remains well within RBI’s tolerance level. • Monsoon for June- August month has been in deficit of 12% as per IMD. July inflation data shows the spike in prices of pulses and spices. Seasonal factors,

wayward rains in summer and deficient rains in July have spiked the prices.• Whereas, the low vegetables and sugar prices has helped the inflation to come down..

OutlookRBI decided to hold the key policy rates in its 4th August policy meet. Central banker had highlighted the following as key monitorables in its policy statement: Firstly, they said that they are waiting for additional data on CPI performance (The actual data surprised on the lower side). Secondly, the impact of monsoon was also a concern to the central bank (It is an ongoing event and continues to be in line with IMD). Moreover, the RBI wanted to see the level of rate transmission of the earlier rate cuts into the economy ( HDFC bank cut the base rate by 35 bps, we expect other banks to follow suit). Finally, the RBI also wanted to assess the impact of US Fed action. (Probability of September rate has reduced)

With most of the variables having come out as favorable, we believe that the possibility of rate cut on 29th September is high. We believe that Jan-16 inflation figure may be below 5-5.50%. Over the course of one year, we believe there is scope for 50 bps rate cut. Since RBI is working with a 4% long term inflation target in mind, we believe it will create further room for gradual easing over a period of 2 years.

3

Items Aug-15 Jul-15 Change

Reverse Repo* 6.25% 6.25% 0

Repo * 7.25% 7.25% 0

CRR 4% 4% 0

SLR 21.50% 21.50% 0

Mibor Overnight 7.18% 7.20% -2 bps

Call(O/N) 7.25% 7.07% 18 bps

CBLO 7.16% 7.31% -15 bps

1 yr T Bill 7.53% 7.57% -4 bps

10 G Sec 7.78% 7.80% -2 bps

5 Year AAA 8.35% 8.43% -8 bps

USD/INR 66.48 64.05 2.43 ps

Source: RBI; ICRAonline.

DEBT VIEW

For the month, spot gold closed at $1134 per ounce, up $ 39 per ounce or 3.56%. Gold extended its best monthly gain since January after the industrial

performance gauge in China shrank to a three-year low, deepening concern about the slowdown in the world’s second-biggest economy and boosting demand

for the yellow metal as a haven. Also the steep losses in global equity markets supported demand for the yellow metal. The Dollar Index was down 1.55% during

the month.

Going forward the major event of the month for precious metal is the publication of the US non-farm payroll report and the Federal Open Market Committee

meets which is on Sept. 16th and 17th. If the report shows a higher than expected gain in number of jobs, this could bring down gold prices. The downbeat data

will probably make US Federal Reserve to delay raising interest rates until the end of 2015, which may eventually push gold price higher for the time-being.

4

GOLD VIEW

KOTAK 50An Open - Ended Equity Scheme

(As on August 31, 2015)

Issuer/Instrument Industry/Rating % to Net Assets

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Infosys Ltd. Software 8.70HDFC Bank Ltd. Banks 7.46ICICI Bank Ltd. Banks 6.27Larsen And Toubro Ltd. Construction Project 4.98Axis Bank Ltd Banks 4.43Maruti Suzuki India Limited Auto 3.90Tata Consultancy Services Ltd. Software 3.62Reliance Industries Ltd. Petroleum Products 3.27IndusInd Bank Ltd. Banks 3.10Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 3.05State Bank Of India Banks 2.88Ultratech Cement Ltd. Cement 2.57ITC Ltd. Consumer Non Durables 2.53Power Grid Corporation Of India Ltd Power 2.12Colgate Palmolive (India ) Ltd. Consumer Non Durables 2.05HDFC Ltd. Finance 2.02Tata Motors Ltd. Auto 1.98HCL Technologies Ltd. Software 1.96Britannia Industries Ltd. Consumer Non Durables 1.83MRF Limited Auto Ancillaries 1.78Tata Motors Ltd - DVR Auto 1.73Kajaria Ceramics Ltd. Construction 1.58Shree Cement Ltd. Cement 1.56Persistent Systems Limited Software 1.41The Ramco Cements Ltd Cement 1.39Bharat Petroleum Corporation Ltd.Petroleum Products 1.34Asian Paints Ltd. Consumer Non Durables 1.27


Hero MotoCorp Ltd. Auto 1.27Tata Communications Ltd Telecom - Services 1.17Grasim Industries Ltd. Cement 1.13Siemens Ltd. Industrial Capital Goods 1.11Tech Mahindra Ltd. Software 1.09IDFC Limited Finance 1.05Bharat Electronics Ltd Industrial Capital Goods 1.04Cadila Healthcare Ltd. Pharmaceuticals 1.03Tata Chemicals Ltd. Chemicals 0.93Bank Of Baroda Banks 0.92Supreme Industries Limited Industrial Products 0.86Alstom India Limited Industrial Capital Goods 0.85Titan Company Ltd. Consumer Durables 0.83Mahindra & Mahindra Ltd. Auto 0.82Lupin Ltd. Pharmaceuticals 0.76Sanofi India Ltd. Pharmaceuticals 0.70Jubilant Foodworks Limited Consumer Non Durables 0.56Motherson Sumi Systems Ltd. Auto Ancillaries 0.53Zee Entertainment Enterprises Ltd Media and Entertainment 0.32Blue Dart Express Ltd. Transportation 0.28Federal Bank Ltd. Banks 0.28Listed/Awaiting Listing on Stock Exchange - Total 98.31TERM DEPOSITSKotak Mahindra Bank Ltd. 1.08Term Deposits - Total 1.08Collateral Borrowing & Lending obligation 1.13Net Current Assets/(Liabilities) -0.52Grand Total 100

PORTFOLIO

INVESTMENT STYLE

Value Blend Growth Size

Large

Mid

Small

EQUITY SCHEMES

Investment Objective

Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)

Available Plans/Options

Dividend Frequency

Ratios

Minimum Investment Amount

Load Structure

To generate capital appreciation from a portfolio of predominantly equity and equity related securities. The portfolio will generally comprise of equity and equity related instruments of around 50 companies which may go up to 59 companies but will not exceed 59 at any point in time.

December 29,1998

Mr. Harish Krishnan

CNX Nifty

AAUM as on June 30, 2015: ̀ 732.59

A)

B) Direct Plan / Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans)

Trustee’s Discretion

Portfolio Turnover: 52.76%$Beta: 1.08$ ##Sharpe : 0.76$Standard Deviation : 15.55%

$Source: ICRA MFI Explorer.

Beta, Standard Deviation & Sharpe Ratio are calculated on Annualised basis using 3 years history of monthly returns.

## Risk-free rate assumed to be 7.39% (3 months T-bill yield as on August 31, 2015)

Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches

Additional Investment: `1000 & in multiples of ̀ 1

Ideal Investments Horizon: 3 years & above

Entry Load: Nil. (applicable for all plans)

Exit Load:

i) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment: 1%.

ii) For redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment: Nil.

Note – Any exit load charged (net off Service Tax, if any) shall be credited back to the respective scheme. Units issued on reinvestment of dividends shall not be subject to entry and exit load.

Regular Plan

SYSTEMATIC INVESTMENT PLAN (SIP)

Scheme Inception : - December 29, 1998. The returns are calculated by XIRR approach assuming investment of 5,000/- 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 50 NAV as on June 30, 2015: 33.984 (Dividend Option), 34.873 (Direct Dividend Option), 172.491 (Growth Option), `175.588 (Direct Growth Option)

`

` ` `

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

Systematic Investment Plan (SIP) If you had invested ,000 every month `5

Style

Total Amount Invested

Total Value as on 30th June 2015 (`)

Scheme Returns (%)

CNX Nifty (`)#

CNX Nifty Returns (%)

S&P BSE SENSEX (`)^

S&P BSE SENSEX Returns (%)

60,000 1,80,000 3,00,000 6,00,000 995000

63,973 2,53,178 4,61,099 12,41,954 61,21,022

12.60 23.53 17.25 13.94 19.42

60,715 2,30,159 4,15,980 10,85,011 37,01,170

2.23 16.69 13.05 11.41 14.33

60,633 2,29,704 4,15,260 10,77,872 37,94,035

1.98 16.55 12.98 11.28 14.58

1 year 3 years 5 years 10 years Since Inception

5

This product is suitable for investors who are seeking*:• Long term capital growth• Investment in portfolio of predominantly equity & equity related securities* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL

Investors understand that their principal will be at moderately high risk

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

SECTOR ALLOCATION (%)

Banks Software Auto Consumer Non Durables CementPharmaceuticals Construction Project Petroleum ProductsFinance Industrial Capital Goods Others

25.34

16.78

9.78.24

6.65

5.54

4.984.61

3.073.00

12.09

KOTAK CLASSIC EQUITYAn Open - Ended Equity Growth Scheme



PORTFOLIO

INVESTMENT STYLE


Large

Mid

Small


Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To generate capital appreciation from a diversified portfolio of equity and equity related securities.

July 27, 2005

Mr. Harish Krishnan

CNX 100

AAUM as on June 30, 2015: ̀ 118.42

A)







Initial Investment: 5000 and in multiple of `1 for purchase and for `0.01 for switches




Exit Load: Nil. (applicable for all plans), (w.e.f December 01, 2014)

Regular Plan

`

Style


Scheme Inception : - July 27,2005. The returns are calculated by XIRR approach assuming investment of 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 Classic Equity NAV as on , 2015: 19.702 (Dividend Option), 20.288 (Direct Dividend Option), 35.562 (Growth Option), `36.336 (Direct Growth Option)

`5,000/-

June 30 ` ` `

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)

Infosys Ltd. Software 8.04

HDFC Bank Ltd. Banks 7.08

Larsen And Toubro Ltd. Construction Project 5.61

Maruti Suzuki India Limited Auto 5.20

ICICI Bank Ltd. Banks 5.04

HDFC Ltd. Finance 4

Tata Consultancy Services Ltd. Software 3.75

Axis Bank Ltd Banks 3.60

Hindustan Unilever Ltd. Consumer Non Durables 2.85

Reliance Industries Ltd. Petroleum Products 2.75

IndusInd Bank Ltd. Banks 2.43

Sun Pharmaceuticals

Industries Ltd. Pharmaceuticals 2.38

HCL Technologies Ltd. Software 2.29

IDFC Limited Finance 2.24

PNC INFRATECH LIMITED Construction Project 2.20

The Ramco Cements Ltd Cement 2.19

Mahindra & Mahindra Ltd. Auto 2.08

Tata Motors Ltd. Auto 2.07

Ultratech Cement Ltd. Cement 1.91

Cadila Healthcare Ltd. Pharmaceuticals 1.88

Yes Bank Ltd Banks 1.77

Bharat Heavy Electricals Ltd. Industrial Capital Goods 1.72

Hero MotoCorp Ltd. Auto 1.72

ITC Ltd. Consumer Non Durables 1.54

Lupin Ltd. Pharmaceuticals 1.43

City Union Bank Ltd. Banks 1.29

UPL Ltd Pesticides 1.28

Systematic Investment Plan (SIP) If you had invested 000 every month `5,



Scheme Returns (%)

CNX 100 (`)#

CNX 100 Returns (%)

CNX Nifty (`)^


60,000 1,80,000 3,00,000 6,00,000

62,255 2,44,009 4,52,160 12,03,891

7.10 20.86 16.45 13.36

61,362 2,35,255 4,25,785 11,20,783

4.27 18.24 14.00 12.02

60,715 2,30,159 4,15,980 10,84,136

2.23 16.69 13.05 11.39

1 year 3 years 5 years Since Inception

EQUITY SCHEMES

6

( August )As on 31, 2015


PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Ahluwalia Contracts (India) Ltd. Cement 1.26

Bank Of Baroda Banks 1.26

Bharti Airtel Ltd. Telecom - Services 1.24

MBL Infrastructures Ltd. Construction 1.21

Cairn India Limited Oil 1.19

Gujarat State Petronet Ltd. Gas 1.08

Oil & Natural Gas Corporation Ltd. Oil 1.08

Idea Cellular Ltd. Telecom - Services 1.07

Tata Motors Ltd - DVR Auto 0.97

Hindustan Zinc Ltd. Non - Ferrous Metals 0.94

Tech Mahindra Ltd. Software 0.92

State Bank Of India Banks 0.90

Voltas Ltd. Construction Project 0.90

Multi Commodity

Exchange of India Limited Finance 0.77

UFO Moviez Limited Media and Entertainment 0.64

Federal Bank Ltd. Banks 0.55

Power Grid Corporation Of India Ltd Power 0.49

Tata Steel Limited. Ferrous Metals 0.37

Hindalco Industries Ltd Non - Ferrous Metals 0.34

Cipla Ltd. Pharmaceuticals 0.32

Rural Electrification

Corporation Ltd Finance 0.19

The Indian Hotels

Company Ltd - CCD Hotels 0.10

Listed/Awaiting Listing on Stock Exchange - Total 98.13

Collateral Borrowing & Lending obligation 2.17

Net Current Assets/(Liabilities) -0.30

Grand Total 100


Banks Software Auto Finance Construction ProjectsConsumer Non Durables Pharmaceuticals CementPetroleum Products Others

23.92

15.00

12.048.717.2

6.01

5.364.39

2.752.31

12.31

Telecom - Services

KOTAK OPPORTUNITIESAn Open - Ended Equity Growth Scheme

(As on 31, 2015)August


Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure


September 9, 2004

Mr. Harsha Upadhyaya

CNX 500

AAUM as on June 30, 2015: ̀ 649.19

A)











Exit Load:

I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment: 1%

ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment: NIL

iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the respective Scheme. (applicable for all plans)

iv) Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans)

Regular Plan:

`

EQUITY SCHEMES

7


Scheme Inception : - September 09, 2004. The returns are calculated by XIRR approach assuming investment of - 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 Opportunities NAV as on , : 24.531 (Dividend Option), 24.962 (Direct Dividend Option), 82.556 (Growth Option), `83.961 (Direct Growth Option)

`5,000/

June 30 2015 ` ` `



Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Infosys Ltd. Software 5.34HDFC Bank Ltd. Banks 4.79ICICI Bank Ltd. Banks 4.52Axis Bank Ltd Banks 3.94Bajaj Finance Limited Finance 3.72State Bank Of India Banks 3.66Larsen And Toubro Ltd. Construction Project 3.56Maruti Suzuki India Limited Auto 3.39Shree Cement Ltd. Cement 2.55Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.50Bharat Petroleum Corporation Ltd. Petroleum Products 2.48Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 2.46Hindustan Petroleum Corporation Ltd Petroleum Products 2.37Ultratech Cement Ltd. Cement 2.35Britannia Industries Ltd. Consumer Non Durables 2.28IndusInd Bank Ltd. Banks 2.10Tech Mahindra Ltd. Software 2.07Federal Bank Ltd. Banks 2.05MRF Limited Auto Ancillaries 1.79HCL Technologies Ltd. Software 1.64Tata Motors Ltd. Auto 1.59Indraprastha Gas Ltd. Gas 1.48ITC Ltd. Consumer Non Durables 1.44Lupin Ltd. Pharmaceuticals 1.43Hindustan Unilever Ltd. Consumer Non Durables 1.40Bank Of Baroda Banks 1.37Bosch Limited Auto Ancillaries 1.37Multi Commodity Exchange of India Limited Finance 1.34CMC Ltd. Software 1.31UPL Ltd Pesticides 1.31Cummins India Ltd. Industrial Products 1.30MBL Infrastructures Ltd. Construction 1.28Persistent Systems Limited Software 1.24


Ashok Leyland Ltd. Auto 1.20The Ramco Cements Ltd Cement 1.20Arvind Ltd Textile Products 1.13Motherson Sumi Systems Ltd. Auto Ancillaries 1.12Petronet LNG Ltd. Gas 1.12Container Corporation of India Ltd. Transportation 1.05JK Cement Ltd. Cement 1.02Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.01Max India Ltd. Finance 0.99AIA Engineering Limited Industrial Capital Goods 0.95Whirlpool of India Ltd. Consumer Durables 0.94Apollo Tyres Ltd. Auto Ancillaries 0.93Bharat Forge Ltd. Industrial Products 0.86CESC Ltd. Power 0.85D-Link (India) Ltd Hardware 0.84Prestige Estates Projects Limited Construction 0.75Techno Electric & Engineering Co Ltd. Construction Project 0.69SKF India Ltd Industrial Products 0.53UFO Moviez Limited Media and Entertainment 0.48Power Grid Corporation Of India Ltd Power 0.47Swaraj Engines Ltd Industrial Products 0.40Tourism Finance Corporation of India Ltd. Finance 0.226 Redm Preference Sh Zee Entertainment Enterprises Ltd Media and Entertainment 0.15Arvind Infrastructure Ltd Construction Project 0.02Listed/Awaiting Listing on Stock Exchange - Total 96.34FuturesPower Grid Corporation Of India Ltd-SEP2015 0.11Futures (Market value represents Notional Value) - Total 0.11TERM DEPOSITSKotak Mahindra Bank Ltd. 0.52Term Deposits - Total 0.52Collateral Borrowing & Lending obligation 4.76Net Current Assets/(Liabilities) -1.73Grand Total 100

PORTFOLIO

Notes:

Term Deposit as provided above is towards margin for derivatives transactions

60,000 1,80,000 3,00,000 6,00,000 6,50,000

64,966 2,66,561 4,89,123 13,62,041 17,05,469

15.82 27.33 19.67 15.66 16.84

61,567 2,40,046 4,30,390 10,97,639 13,04,399

4.92 19.68 14.44 11.62 12.28

60,715 2,30,159 4,15,980 10,84,993 13,00,821

2.23 16.69 13.05 11.41 12.23



PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



Scheme Returns (%)

CNX 500 (`)#

CNX 500 Returns (%)

CNX Nifty (`)^


INVESTMENT STYLE


Large

Mid

Small

Style


Banks Software

Cement

Auto AncillariesAuto Pharmaceuticals Finance Consumer Non Durables

Petroleum Products

CBLO & Term Deposits & Rev.Repo Others

22.43

11.6

7.126.396.27

6.186.13

5.28

5.21

4.85

18.54

8

KOTAK SELECT FOCUS FUNDAn Open - Ended Equity Scheme




PORTFOLIO

EQUITY SCHEMES


Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

The investment objective of the scheme is to generate long-term capital appreciation from a portfolio of equity and equity related securities, generally focused on a few selected sectors.

September 11, 2009


CNX 200

AAUM as on June 30, 2015: ̀ 2666.89

A)











Exit Load:

I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment:1%




Regular Plan

`


Scheme Inception : - September 11, 2009. The returns are calculated by XIRR approach assuming investment of 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 Select Focus Fund NAV as on , : 19.481 (Dividend Option), 19.882 (Direct Dividend Option), 22.866 (Growth Option), `23.325 (Direct Growth Option)

`5,000/-

June 30 2015 ` ` `


Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Infosys Ltd. Software 5.33HDFC Bank Ltd. Banks 4.85Larsen And Toubro Ltd. Construction Project 4.15Axis Bank Ltd Banks 3.63Maruti Suzuki India Limited Auto 3.54State Bank Of India Banks 3.16ICICI Bank Ltd. Banks 3.06Ultratech Cement Ltd. Cement 3Max India Ltd. Finance 2.87IndusInd Bank Ltd. Banks 2.53HCL Technologies Ltd. Software 2.52Britannia Industries Ltd. Consumer Non Durables 2.41Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 2.33Shree Cement Ltd. Cement 2.30Bharat Electronics Ltd Industrial Capital Goods 2.23MRF Limited Auto Ancillaries 2.16Tata Motors Ltd. Auto 2.14Bajaj Finance Limited Finance 1.91The Ramco Cements Ltd Cement 1.86Hindustan Petroleum Corporation Ltd Petroleum Products 1.84Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.79Bharat Petroleum Corporation Ltd. Petroleum Products 1.73Ashok Leyland Ltd. Auto 1.70Bosch Limited Auto Ancillaries 1.70Federal Bank Ltd. Banks 1.63Indraprastha Gas Ltd. Gas 1.61Tech Mahindra Ltd. Software 1.58ITC Ltd. Consumer Non Durables 1.48Cadila Healthcare Ltd. Pharmaceuticals 1.44Bank Of Baroda Banks 1.41Container Corporation

of India Ltd. Transportation 1.41Hindustan Unilever Ltd. Consumer Non Durables 1.31Petronet LNG Ltd. Gas 1.17Arvind Ltd Textile Products 1.16Jk Lakshmi Cement Ltd. Cement 1.16Bajaj Finserv Ltd. Finance 1.10Techno Electric & Engineering Co Ltd. Construction Project 0.82IDFC Limited Finance 0.79IFB Industries Ltd. Consumer Durables 0.72Godrej Consumer Products Ltd. Consumer Non Durables 0.71Lupin Ltd. Pharmaceuticals 0.71Motherson Sumi Systems Ltd. Auto Ancillaries 0.55Whirlpool of India Ltd. Consumer Durables 0.55Apollo Tyres Ltd. Auto Ancillaries 0.54AIA Engineering Limited Industrial Capital Goods 0.52CESC Ltd. Power 0.41Kirloskar Oil Engines Ltd. Industrial Products 0.37INOX WIND LIMITED Power 0.35Siemens Ltd. Industrial Capital Goods 0.34Bayer Cropscience Ltd. Pesticides 0.31Kec International Ltd. Power 0.30Navkar Corporation Limited Transportation 0.276 Redm Preference Sh Zee Entertainment Enterprises Ltd Media and Entertainment 0.03Arvind Infrastructure Ltd Construction Project 0.02Pneumatic Holdings Ltd Finance 0.01Listed/Awaiting Listing on Stock Exchange - Total 89.52FuturesCNX NIFTY-SEP2015 2.44CNX BANK INDEX-SEP2015 1.31Futures (Market value representsNotional Value) - Total 3.75TERM DEPOSITSStandard Chartered Bank Ltd 1.22Kotak Mahindra Bank Ltd. 0.73Term Deposits - Total 1.95Collateral Borrowing & Lending obligation 8.87Net Current Assets/(Liabilities) -4.09Grand Total 100


60,000 1,80,000 3,00,000 3,50,000

64,620 2,75,302 5,16,355 6,26,869

14.69 29.73 21.91 19.92

61,458 2,37,170 4,26,187 5,08,835

4.57 18.82 14.04 12.73

60,715 2,30,159 4,15,980 4,99,429

2.23 16.69 13.05 12.09


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

generally focussed on a few selected sectors.* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



Scheme Returns (%)

CNX 200 (`)#

CNX 200 Returns (%)

CNX Nifty (`)^


INVESTMENT STYLE


Large

Mid

Small

Style


Banks Software

Cement

Auto AncillariesAuto Pharmaceuticals Finance Consumer Non Durables

Construction Project

CBLO & Term Deposits & Rev.Repo Others

20.27

10.82

9.43

8.327.77.38

6.68

4.994.95

4.48

14.98

KOTAK TAX SAVERAn Open - Ended Equity Linked Savings Scheme



Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To generate long-term capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail the income tax rebate, as permitted from time to time.

November 23, 2005


CNX 500

AAUM as on June 30, 2015: `498.23

A)

B) Direct Plan / Options: Dividend Payout, Div idend Reinvestment & Growth (applicable for all plans)






Initial Investment: 500 and in multiple of `500




Exit Load: Exit Load is not applicable for Kotak Tax Saver Scheme. (applicable for all plans)

Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans)

Regular Plan

`

EQUITY SCHEMES

9


Scheme Inception : - November 23, 2005. The returns are calculated by XIRR approach assuming investment of 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 BenchmarkKotak Tax Saver NAV as on , : 18.443 (Dividend Option), 19.318 (Direct Dividend Option), 31.146 (Growth Option), `32.028 (Direct Growth Option)

`5,000/-

June 30 2015 ` ` `

INVESTMENT STYLE


Large

Mid

Small

Style



Finance 1.23Bharat Forge Ltd. Industrial Products 1.19Blue Dart Express Ltd. Transportation 1.18Bosch Limited Auto Ancillaries 1.18Container Corporation of India Ltd. Transportation 1.16Arvind Ltd Textile Products 1.10Adani Port and Special Economic Zone Limited Transportation 1.08Navneet Education Ltd. Media and Entertainment 1.03Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.99The Ramco Cements Ltd Cement 0.99AIA Engineering Limited Industrial Capital Goods 0.93Apollo Tyres Ltd. Auto Ancillaries 0.82Texmaco Rail & Engineering Ltd. Industrial Capital Goods 0.77UPL Ltd Pesticides 0.72Hawkins Cooker Ltd Household Appliances 0.68CMC Ltd. Software 0.61IDFC Limited Finance 0.56Kewal Kiran Clothing Limited. Textile Products 0.54Thermax Ltd. Industrial Capital Goods 0.48KSB Pump Ltd Industrial Products 0.47Tourism Finance Corporation of India Ltd. Finance 0.386 Redm Preference Sh Zee Entertainment Enterprises Ltd Media and Entertainment 0.14The Indian Hotels Company Ltd - CCD Hotels 0.11Listed/Awaiting Listing on Stock Exchange - Total 97.60Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsBlue Dart Express Ltd ICRA AA 0.03Corporate Debt/Financial Institutions - Total 0.03Collateral Borrowing & Lending obligation 2.55Net Current Assets/(Liabilities) -0.18Grand Total 100

PORTFOLIO

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Infosys Ltd. Software 5.34HDFC Bank Ltd. Banks 4.81ICICI Bank Ltd. Banks 4.80Axis Bank Ltd Banks 3.98Larsen And Toubro Ltd. Construction Project 3.59State Bank Of India Banks 3.40Maruti Suzuki India Limited Auto 3.39Whirlpool of India Ltd. Consumer Durables 2.78Britannia Industries Ltd. Consumer Non Durables 2.68Shree Cement Ltd. Cement 2.63Bajaj Finance Limited Finance 2.55IndusInd Bank Ltd. Banks 2.44Bharat Petroleum Corporation Ltd.Petroleum Products 2.25Tech Mahindra Ltd. Software 2.22Hindustan Petroleum Corporation Ltd Petroleum Products 2.06Ultratech Cement Ltd. Cement 2.06ITC Ltd. Consumer Non Durables 1.88Sun Pharmaceuticals Industries Ltd.Pharmaceuticals 1.83SKF India Ltd Industrial Products 1.76Hindustan Unilever Ltd. Consumer Non Durables 1.75Reliance Industries Ltd. Petroleum Products 1.74Techno Electric & Engineering Co Ltd. Construction Project 1.73Federal Bank Ltd. Banks 1.67MRF Limited Auto Ancillaries 1.64HCL Technologies Ltd. Software 1.58Lupin Ltd. Pharmaceuticals 1.57Solar Industries India Limited Chemicals 1.57Cadila Healthcare Ltd. Pharmaceuticals 1.54Tata Motors Ltd. Auto 1.46Bank Of Baroda Banks 1.41Max India Ltd. Finance 1.38Ashok Leyland Ltd. Auto 1.29MBL Infrastructures Ltd. Construction 1.25Cummins India Ltd. Industrial Products 1.23Multi Commodity Exchange of India Limited


60,000 1,80,000 3,00,000 5,80,000

65,713 2,66,471 4,77,565 11,26,919

18.26 27.30 18.68 13.22

61,567 2,40,046 4,30,390 10,30,594

4.92 19.68 14.44 11.48

60,715 2,30,159 4,15,980 10,13,484

2.23 16.69 13.05 11.15


This product is suitable for investors who are seeking*:• long term capital growth with a 3 year lock in• Investment in portfolio of predominantly equity & equity related securities.* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



Scheme Returns (%)

CNX 500 (`)#

CNX 500 Returns (%)

CNX Nifty (`)^



Banks SoftwareAuto

PharmaceuticalsConsumer Non Durables Petroleum ProductsCement Finance Construction ProjectIndustrial Products Others

22.51

9.75

7.36.14

6.16.055.68

5.32

4.94

4.65

21.56

KOTAK MID-CAPAn Open - Ended Equity Growth Scheme


INVESTMENT STYLE


Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure


February 24, 2005

Mr. Pankaj Tibrewal

CNX Midcap

AAUM as on June 30, 2015: ̀ 344.05

A)











Exit Load:



iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme.(applicable for all plans)


Regular Plan

StyleEQUITY SCHEMES

10


Scheme Inception : - February 24,2005. The returns are calculated by XIRR approach assuming investment of 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 BenchmarkKotak Mid-cap NAV as on , : 29.922 (Dividend Option), 30.633 (Direct Dividend Option), 51.942 (Growth Option), `53.107 (Direct Growth Option)

`5,000/-

June 30 2015 ` ` `



Large

Mid

Small


Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Techno Electric &Engineering Co Ltd. Construction Project 5.64IndusInd Bank Ltd. Banks 3.10Atul Ltd. Chemicals 2.87Persistent Systems Limited Software 2.71Finolex Cables Ltd. Industrial Products 2.53The Ramco Cements Ltd Cement 2.53Federal Bank Ltd. Banks 2.44Whirlpool of India Ltd. Consumer Durables 2.35Solar Industries India Limited Chemicals 2.25Cadila Healthcare Ltd. Pharmaceuticals 2.24Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.23MRF Limited Auto Ancillaries 2.22Supreme Industries Limited Industrial Products 2.19DB Corp Limited Media and Entertainment 2.16Britannia Industries Ltd. Consumer Non Durables 2.13JK Cement Ltd. Cement 2.07Kewal Kiran Clothing Limited. Textile Products 2.07Shriram Transport Finance Co Ltd. Finance 1.99ICICI Bank Ltd. Banks 1.98Hawkins Cooker Ltd Household Appliances 1.92HSIL Ltd. Consumer Durables 1.84SRF Ltd. Textile Products 1.81Strides Arcolab Ltd. Pharmaceuticals 1.77PVR Ltd. Media and Entertainment 1.74Kansai Nerolac Paints Ltd Consumer Non Durables 1.73Motherson Sumi Systems Ltd. Auto Ancillaries 1.72Divi s Laboratories Limited Pharmaceuticals 1.62Tube Investments of India Ltd. Consumer Durables 1.62Axis Bank Ltd Banks 1.61MBL Infrastructures Ltd. Construction 1.55NIIT Technologies Ltd Software 1.54Bharat Petroleum Corporation Ltd. Petroleum Products 1.52


Fag Bearings India Ltd. Industrial Products 1.52Bajaj Finance Limited Finance 1.51Arvind Ltd Textile Products 1.46Navneet Education Ltd. Media and Entertainment 1.43Adani Port and Special Economic Zone Limited Transportation 1.36Bank Of Baroda Banks 1.36Jubilant Foodworks Limited Consumer Non Durables 1.34Bharat Forge Ltd. Industrial Products 1.31LIC Housing Finance Ltd. Finance 1.27Va Tech Wabag Limited Engineering Services 1.26WPIL Ltd Industrial Products 1.21Voltas Ltd. Construction Project 1.17Zuari Agro Chemicals Ltd Fertilisers 1.16UPL Ltd Pesticides 1.06Yes Bank Ltd Banks 1.05Union Bank Of India Banks 1.02Tech Mahindra Ltd. Software 1INOX WIND LIMITED Power 0.96Mahindra & Mahindra Financial Services Ltd. Finance 0.94Jk Lakshmi Cement Ltd. Cement 0.91SKF India Ltd Industrial Products 0.86Havells India Ltd. Consumer Durables 0.85Power Mech Projects Ltd Power 0.65Shree Cement Ltd. Cement 0.62Arvind Infrastructure Ltd Construction Project 0.03Listed/Awaiting Listing on Stock Exchange - Total 97.00TERM DEPOSITSStandard Chartered Bank Ltd 0.85Term Deposits - Total 0.85Collateral Borrowing & Lending obligation 1.18Net Current Assets/(Liabilities) 0.97Grand Total 100

PORTFOLIO

60,000 1,80,000 3,00,000 6,00,000 6,25,000

66,455 2,96,289 5,49,193 14,55,677 15,81,033

20.69 35.32 24.47 16.90 16.92

63,896 2,64,863 4,65,217 12,43,720 13,53,196

12.35 26.85 17.61 13.97 14.15

60,715 2,30,159 4,15,980 10,85,011 11,87,554

2.23 16.69 13.05 11.41 11.82


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

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

PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



Scheme Returns (%)

CNX Midcap (`)#

CNX Midcap Returns (%)

CNX Nifty (`)^



Banks Industrial Products Consumer DurablesPharmaceuticals Cement FinanceTextile Products Construction ProjectMedia & Entertainment Software Others

Midcap and Small cap stocks as a % age of Net Assets: 85.53%

12.81 9.64

7.61

7.38 6.87

6.37 5.79

5.28 5.07

27.71 12.56

9.62

7.86

6.846.66

6.135.715.34

5.335.25

28.7

KOTAK EMERGING EQUITYAn Open - Ended Equity Growth Scheme


INVESTMENT STYLE


Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

The investment objective of the scheme is to generate long-term capital appreciation from a portfolio of equity and equity related securities, by investing predominantly in mid and small cap companies.

March 30, 2007

Mr. Pankaj Tibrewal

S&P ap (w.e.f August 1, 2015 benchmark will be S&P BSE MID SMALL CAP)

AAUM as on June 30, 2015: ̀ 673.47

A)











Exit Load:




BSE Midc

Regular Plan


Large

Mid

Small

StyleEQUITY SCHEMES

11




PORTFOLIO

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Whirlpool of India Ltd. Consumer Durables 3.62IndusInd Bank Ltd. Banks 3.32The Ramco Cements Ltd Cement 2.96Persistent Systems Limited Software 2.74Torrent Pharmaceuticals Ltd. Pharmaceuticals 2.44Solar Industries India Limited Chemicals 2.40Shriram City Union Finance Ltd. Finance 2.36V-Guard Industries Ltd. Industrial Capital Goods 2.34Strides Arcolab Ltd. Pharmaceuticals 2.32Federal Bank Ltd. Banks 2.16Navneet Education Ltd. Media and Entertainment 2.07Hawkins Cooker Ltd Household Appliances 2.06PNC INFRATECH LIMITED Construction Project 2.06PVR Ltd. Media and Entertainment 2.02DB Corp Limited Media and Entertainment 1.95MBL Infrastructures Ltd. Construction 1.94Finolex Cables Ltd. Industrial Products 1.88Kewal Kiran Clothing Limited. Textile Products 1.85Ramkrishna Forgings Ltd. Industrial Products 1.82Supreme Industries Limited Industrial Products 1.81Britannia Industries Ltd. Consumer Non Durables 1.73Rural Electrification Corporation Ltd Finance 1.70Atul Ltd. Chemicals 1.58Max India Ltd. Finance 1.57D-Link (India) Ltd Hardware 1.53Greaves Cotton Ltd. Industrial Products 1.51Bajaj Finance Limited Finance 1.49Jk Lakshmi Cement Ltd. Cement 1.49Blue Dart Express Ltd. Transportation 1.46Finolex Industries Ltd. Industrial Products 1.35Oberoi Realty Ltd Construction 1.32WPIL Ltd Industrial Products 1.32IFB Industries Ltd. Consumer Durables 1.25Va Tech Wabag Limited Engineering Services 1.24Divi s Laboratories Limited Pharmaceuticals 1.22Kirloskar Brothers Ltd. Industrial Products 1.20

Zuari Agro Chemicals Ltd Fertilisers 1.18Bank Of Baroda Banks 1.17Biocon Ltd. Pharmaceuticals 1.06Shree Cement Ltd. Cement 1.05Yes Bank Ltd Banks 1.04ICICI Bank Ltd. Banks 1.03WABCO India Ltd. Auto Ancillaries 0.96Amara Raja Batteries Ltd. Auto Ancillaries 0.95SKF India Ltd Industrial Products 0.95Motherson Sumi Systems Ltd. Auto Ancillaries 0.94Maharashtra Seamless Ltd. Ferrous Metals 0.88Carborundum Universal Ltd. Industrial Products 0.87Mahindra & Mahindra Financial Services Ltd. Finance 0.84GMM Pfaudler Ltd. Engineering 0.82Marksans Pharma Ltd Pharmaceuticals 0.80Coromandel International Ltd. Fertilisers 0.77Multi Commodity Exchange of India Limited Finance 0.75KPIT Technologies LImited Software 0.70SRF Ltd. Textile Products 0.70Power Mech Projects Ltd Power 0.69Pennar Engineered Building Systems Limited Engineering 0.66Bharat Electronics Ltd Industrial Capital Goods 0.65Fag Bearings India Ltd. Industrial Products 0.64Alembic Pharmaceuticals Ltd. Pharmaceuticals 0.62National Buildings Construction Corporation Limited Construction 0.50Listed/Awaiting Listing on Stock Exchange - Total 90.30FuturesCentury Textiles & Industries Ltd.-SEP2015 1.17Axis Bank Ltd-SEP2015 0.98IDFC Limited-SEP2015 0.47Futures (Market value represents Notional Value) -Total 2.62Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsBlue Dart Express Ltd ICRA AA 0.01Corporate Debt/Financial Institutions - Total 0.01TERM DEPOSITSStandard Chartered Bank Ltd 0.53Term Deposits - Total 0.53Collateral Borrowing & Lending obligation 7.02Net Current Assets/(Liabilities) -0.48Grand Total 100

Scheme Inception : - March 30, 2007. The returns are calculated by XIRR approach assuming investment of 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 BenchmarkKotak Emerging Equity NAV as on , : 20.000 (Dividend Option), 20.453 (Direct Dividend Option), 25.788 (Growth Option), `26.310 (Direct Growth Option)

`5,000/-

June 30 2015 ` ` `


60,000 1,80,000 3,00,000 5,00,000

67,605 3,17,910 5,91,715 11,61,409

24.50 40.80 27.59 19.59

65,364 2,63,631 4,76,516 9,62,624

17.12 26.51 18.59 15.27

60,715 2,30,159 4,15,980 8,09,119

2.23 16.69 13.05 11.26


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

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

PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



Scheme Returns (%)

S&P BSE Midc (`)#

S&P BSE Midc Returns (%)

CNX Nifty (`)^


ap

ap


Midcap and Small cap stocks as a % age of Net Assets: 89.27%

Industrial Products Pharmaceuticals BanksConsumer Durables Finance CementMedia and Entertainment ConstructionChemicals CBLO & Term Deposits & Rev. RepoAncillaries

Others

13.35

8.72

8.71

8.46

7.556.045.5

4.873.98

3.76

29.06

KOTAK INFRASTRUCTURE & ECONOMIC REFORM FUNDAn Open - Ended Equity Scheme(As on 31, 2015)August




Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

The investment objective of the Scheme is to generate long-term capital appreciation f rom a d i ve r s i f i ed po r t fo l i o o f predominantly (at least 65%) equity and equity-related securities of companies involved in economic development of India as a result of potential investments in infrastructure and unfolding economic reforms. There is no assurance that the investment objective of the Scheme will be achieved.

February 25, 2008

Mr. Harish Krishnan

S&P BSE – 100

AAUM as on June 30, 2015: ̀ 146.21

A) Regular Plan




$Source: ICRAMFI Explorer.

Beta, Standard Deviation &Sharpe Ratio are calculated onAnnualised basis using 3 years history of monthly returns.






Exit Load:

I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment – 1%;

ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment – NIL;

iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme;

iv) Units issued on reinvestment of dividends shall not be subject to entry and exit load. (applicable for all plans)

(formerly known as “PineBridge Infrastructure & Economic Reform Fund”)

EQUITY SCHEMES

12

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Kirloskar Oil Engines Ltd. Industrial Products 9.12

Shree Cement Ltd. Cement 8.92



Indraprastha Gas Ltd. Gas 7.03

Thermax Ltd. Industrial Capital Goods 6.24

SKF India Ltd Industrial Products 5.99


KSB Pump Ltd Industrial Products 5.59

Cummins India Ltd. Industrial Products 5.15

Power Grid Corporation Of India Ltd Power 3.94

Supreme Industries Limited Industrial Products 3.61

AIA Engineering Limited Industrial Capital Goods 3.12

Fag Bearings India Ltd. Industrial Products 3.07

MRF Limited Auto Ancillaries 3.05




Adani Port and Special

Economic Zone Limited Transportation 1.88

Kajaria Ceramics Ltd. Construction 1.82

Container Corporation of

India Ltd. Transportation 1.57

Gateway Distriparks Ltd. Transportation 1.36

Pneumatic Holdings Ltd Finance 0.17



Net Current Assets/(Liabilities) 0.34

Grand Total 100

PORTFOLIO


Scheme Inception : - . The returns are calculated by XIRR approach assuming investment of 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 Infrastructure & Economic Reform Fund NAV as on June 30, 2015: ̀ 14.904 (Dividend Option), ̀ 15.727 (Direct Dividend Option), `15.411 (Growth Option), ̀ 15.733 (Direct Growth Option)

February 25, 2008 `5,000/-


60,000 1,80,000 3,00,000 4,45,000

64,439 2,86,109 4,93,866 8,26,490

14.11 32.64 20.07 16.35

60,707 2,31,872 4,17,786 7,13,210

2.21 17.21 13.23 12.48

60,715 2,30,159 4,15,980 7,09,181

2.23 16.69 13.05 12.33


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

instruments of companies contributing to infrastructure and economic development of India

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

PRODUCT LABEL

Investors understand that their principal will be at high risk

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



Scheme Returns (%)

S&P BSE 100 (`)#

S&P BSE 100 Returns (%)

CNX Nifty (`)^


INVESTMENT STYLE


Large

Mid

Small

Style


Industrial Products Cement Power Industrial Capital GoodsTelecom - Services Gas Transportation Construction ProjectConstruction Auto Ancillaries Others

32.53

14.699.36

7.53

7.09

7.03

4.814.04

3.943.05

5.93

KOTAK BALANCEAn Open - Ended Balanced Scheme



Inception Date

Fund Managers

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To achieve growth by investing in equity & equity related instruments, balanced with income generation by investing in debt &money market instruments.

November 25, 1999

Mr. Pankaj Tibrewal and Mr. Abhishek Bisen

Crisil Balanced Fund

AAUM as on June 30, 2015: ̀ 294.32

A)


Half Yearly (25th of Mar/Sep)









Exit Load:





Regular Plan

`

EQUITY SCHEMES

13

Kotak Balance NAV as on , : 15.496 (Dividend Option), 15.877 (Direct Dividend Option), 18.515 (Growth Option), `18.904 (Direct Growth Option)

June 30 2015 ` ` `

INVESTMENT STYLE

Short Medium Long Volatility

Low

Medium

High

Maturity


Large

Mid

Small

Style







HDFC Ltd. Finance 3.44





IndusInd Bank Ltd. Banks 2



The Ramco Cements Ltd Cement 1.65



Sun Pharmaceuticals Industries Ltd.Pharmaceuticals 1.54




Ahluwalia Contracts (India) Ltd. Cement 1.15


Voltas Ltd. Construction Project 1.02

PNC INFRATECH LIMITED Construction Project 0.97


UPL Ltd Pesticides 0.90

JK Cement Ltd. Cement 0.82




Ramkrishna Forgings Ltd. Industrial Products 0.75

Amara Raja Batteries Ltd. Auto Ancillaries 0.73

Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.69





Britannia Industries Ltd. Consumer Non Durables 0.63

Cadila Healthcare Ltd. Pharmaceuticals 0.61

Coal India Ltd. Minerals/Mining 0.61


Gujarat State Petronet Ltd. Gas 0.42


PORTFOLIO





Wipro Ltd. Software 0.38


Power Mech Projects Ltd Power 0.32

Finolex Cables Ltd. Industrial Products 0.27

Container Corporation

of India Ltd. Transportation 0.19



Hindustan Zinc Ltd. Non - Ferrous Metals 0.13


Corporation Ltd Finance 0.13

Power Finance Corporation Ltd. Finance 0.12

MOIL Limited Minerals/Mining 0.11

Kansai Nerolac Paints Ltd Consumer Non Durables 0.06

The Indian Hotels

Company Ltd - CCD Hotels 0.04


Debt Instruments

Debentures and Bonds

Corporate Debt/Financial Institutions

LIC Housing Finance Ltd. CRISIL AAA 0.20

Tata Sons Ltd. CRISIL AAA 0.08

Corporate Debt/Financial Institutions - Total 0.28

Public Sector Undertakings

Rural Electrification Corporation Ltd. CRISIL AAA 0.17

Public Sector Undertakings - Total 0.17

Government Dated Securities

9.2 Central Government SOV 10.67





Government Dated Securities - Total 23.73

TERM DEPOSITS

Standard Chartered Bank Ltd 4.67

Kotak Mahindra Bank Ltd.# 0.78

Term Deposits - Total 5.45



Grand Total 100


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

generation by investing in debt & money market instruments* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Government Dated Securities PharmaceuticalsBanks Software CBLO & Term Deposits & Rev.RepoFinance Consumer Non Durables Auto CementConstruction Project Others

23.73

15.88

10.227.086.73

6.27

5.33

5.13

4.513.96

11.16

KOTAK EQUITY ARBITRAGEAn Open - Ended Equity Growth Scheme


EQUITY SCHEMES

14

INVESTMENT STYLE


Low

Medium

High

Maturity


Large

Mid

Small

Style


Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratio


Load Structure

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

September 29, 2005

Mr. Deepak Gupta

Crisil Liquid Fund

AAUM as on June 30, 2015: `3768.95

A)








Ideal Investments Horizon: 3 months & above


Exit Load:

I) For redemptions/switch outs (including STP/SWP) within 90 days from the date of allotment of units, irrespective of the amount of investment: 0.50%

II) For redemptions/switch outs (including STP/SWP) within 90 days from the date of allotment of units, irrespective of the amount of investment: Nil

Note - 1) Any exit load charged (net off Service Tax, if any ) shall be credited back to the Scheme.

2) Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans), (w.e.f. April 8, 2013)

Regular Plan

Monthly (Monday preceding the last Thursday of the month), Bimonthly (Monday preceding the last Thursday of the following months - January, March, May, July, September, November)

PORTFOLIO

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

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)HedgedReliance Industries Ltd. Petroleum Products 2.59 -2.61Infosys Ltd. Software 2.55 -2.57Cipla Ltd. Pharmaceuticals 2.54 -2.54Axis Bank Ltd Banks 2.35 -2.37HDFC Ltd. Finance 2.32 -2.33ITC Ltd. Consumer Non Durables 2.27 -2.28Aurobindo Pharma Ltd. Pharmaceuticals 2.17 -2.18Yes Bank Ltd Banks 2.17 -2.18HDFC Bank Ltd. Banks 2.16 -2.17Eicher Motors Ltd Auto 2.10 -2.10ICICI Bank Ltd. Banks 1.94 -1.95Maruti Suzuki India Limited Auto 1.75 -1.76Hindustan Petroleum Corporation Ltd Petroleum Products 1.68 -1.63Vedanta Ltd. Minerals/Mining 1.53 -1.53JSW Steel Ltd. Ferrous Metals 1.45 -1.46Britannia Industries Ltd. Consumer Non Durables 1.30 -1.31Ultratech Cement Ltd. Cement 1.09 -1.10Rural Electrification Corporation Ltd Finance 1.04 -1.03Larsen And Toubro Ltd. Construction Project 1.01 -1SKS Microfinance Limited Finance 0.87 -0.87Tata Global Beverages Limited Consumer Non Durables 0.82 -0.82Tata Motors Ltd - DVR Auto 0.82 -0.82Hindustan Unilever Ltd. Consumer Non Durables 0.81 -0.82UPL Ltd Pesticides 0.77 -0.77Dewan Housing Finance Corporation Ltd. Finance 0.74 -0.75LIC Housing Finance Ltd. Finance 0.74 -0.74Tata Consultancy Services Ltd. Software 0.71 -0.71Sun TV Limited. Media and Entertainment 0.70 -0.70Reliance Capital Ltd. Finance 0.68 -0.66Wockhardt Ltd. Pharmaceuticals 0.68 -0.68Tech Mahindra Ltd. Software 0.64 -0.64Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.63 -0.63Ambuja Cements Ltd Cement 0.62 -0.62State Bank Of India Banks 0.62 -0.63Tata Chemicals Ltd. Chemicals 0.60 -0.60Adani Port and Special Economic Zone Limited Transportation 0.58 -0.58Century Textiles & Industries Ltd. Cement 0.58 -0.58Tata Communications Ltd Telecom - Services 0.58 -0.57Adani Power Ltd Power 0.57 -0.57Bharat Petroleum Corporation Ltd. Petroleum Products 0.57 -0.57Shriram Transport Finance Co Ltd. Finance 0.57 -0.57Dish TV India Ltd. Media and Entertainment 0.56 -0.57Lupin Ltd. Pharmaceuticals 0.53 -0.53Tata Steel Limited. Ferrous Metals 0.51 -0.51Oracle Financial Services Software Ltd Software 0.49 -0.47Motherson Sumi Systems Ltd. Auto Ancillaries 0.47 -0.48Oil & Natural Gas Corporation Ltd. Oil 0.47 -0.47L&T Finance Holdings Ltd Finance 0.46 -0.45Bharat Electronics Ltd Industrial Capital Goods 0.45 -0.45Bharti Airtel Ltd. Telecom - Services 0.43 -0.43Karnataka Bank Ltd Banks 0.43 -0.43Dr Reddys Laboratories Ltd Pharmaceuticals 0.42 -0.42Just Dial Limited Software 0.42 -0.41Indian Oil Corporation Ltd Petroleum Products 0.41 -0.41Bank Of Baroda Banks 0.38 -0.38Dabur India Ltd Consumer Non Durables 0.36 -0.36Divi s Laboratories Limited Pharmaceuticals 0.35 -0.36Federal Bank Ltd. Banks 0.35 -0.35Biocon Ltd. Pharmaceuticals 0.33 -0.34Siemens Ltd. Industrial Capital Goods 0.33 -0.34Zee Entertainment Enterprises Ltd Media and Entertainment 0.32 -0.32Ajanta Pharma Ltd. Pharmaceuticals 0.30 -0.30Ashok Leyland Ltd. Auto 0.30 -0.31Reliance Power Ltd Power 0.30 -0.30Jain Irrigation Systems Ltd. Industrial Products 0.28 -0.28MRF Limited Auto Ancillaries 0.28 -0.28National Thermal Power Corporation Limited Power 0.28 -0.27Union Bank Of India Banks 0.28 -0.29India Cements Ltd. Cement 0.27 -0.27Mahindra & Mahindra Ltd. Auto 0.27 -0.27Oriental Bank of Commerce Banks 0.27 -0.27Indraprastha Gas Ltd. Gas 0.25 -0.25IRB Infrastructure Developers Ltd Construction 0.23 -0.23Power Finance Corporation Ltd. Finance 0.23 -0.23Bosch Limited Auto Ancillaries 0.21 -0.21UCO Bank Banks 0.21 -0.22Pidilite Industries Ltd. Chemicals 0.20 -0.20Asian Paints Ltd. Consumer Non Durables 0.19 -0.19NHPC Limited Power 0.19 -0.19Coal India Ltd. Minerals/Mining 0.18 -0.18IFCI Ltd. Finance 0.18 -0.18Punjab National Bank Banks 0.18 -0.18Castrol (India ) Ltd. Petroleum Products 0.17 -0.17Hexaware Technologies Ltd. Software 0.17 -0.17Canara Bank Banks 0.16 -0.16Hero MotoCorp Ltd. Auto 0.16 -0.16

KOTAK EQUITY ARBITRAGE

EQUITY SCHEMES

15

An Open - Ended Equity Growth Scheme


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

Kotak Equity Arbitrage NAV as on , : 10.7587 (Dividend Option), 10.9006 (Direct Dividend Option), 21.0275 (Growth Option), ̀ 21.2933 (Direct Growth Option)

June 30 2015, ̀ 20.1032 (Bimonthly Option), ̀ 20.3045 (Direct Bimonthly Option)

` ` `

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

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

PRODUCT LABEL

Investors understand that their principal will be at moderately low risk

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

PORTFOLIO


Housing Development and Infrastructure Limited Construction 0.15 -0.15Idea Cellular Ltd. Telecom - Services 0.15 -0.15Reliance Communications Ltd. Telecom - Services 0.15 -0.15Amara Raja Batteries Ltd. Auto Ancillaries 0.14 -0.14HCL Technologies Ltd. Software 0.14 -0.14DLF Limited Construction 0.13 -0.13Page Industries Ltd Textile Products 0.13 -0.13SRF Ltd. Textile Products 0.13 -0.13Andhra Bank Banks 0.12 -0.12CEAT Ltd. Auto Ancillaries 0.12 -0.12Jindal Steel & Power Ltd. Ferrous Metals 0.12 -0.13United Breweries Ltd. Consumer Non Durables 0.12 -0.12Industrial Development Bank of India Ltd. Banks 0.11 -0.11Syndicate Bank Banks 0.10 -0.10The South Indian Bank Ltd. Banks 0.10 -0.10Engineers India Ltd. Construction Project 0.09 -0.09Adani Enterprises Ltd Trading 0.08 -0.08Indiabulls Real Estate Ltd Construction 0.08 -0.08Kotak Mahindra Bank Ltd. Banks 0.08 -0.08Kaveri Seed Company Ltd. Consumer Non Durables 0.07 -0.07Grasim Industries Ltd. Cement 0.06 -0.06Hindustan Zinc Ltd. Non - Ferrous Metals 0.06 -0.06Oil India Limited Oil 0.06 -0.06Unitech Ltd Construction 0.06 -0.06Apollo Hospitals Enterprises Ltd. Healthcare Services 0.05 -0.05Tata Power Co. Ltd. Power 0.05 -0.05Bajaj Auto Ltd. Auto 0.03 -0.03CESC Ltd. Power 0.03 -0.03Hindalco Industries Ltd Non - Ferrous Metals 0.03 -0.03Amtek Auto Ltd. Auto Ancillaries 0.02 -0.02Bajaj Finance Limited Finance 0.02 -0.02Jubilant Foodworks Limited Consumer Non Durables 0.02 -0.02Mcleod Russel India Ltd Consumer Non Durables 0.02 -0.02Power Grid Corporation Of India Ltd Power 0.02 -0.01Aditya Birla Nuvo Limited Services 0.01 -0.01Arvind Ltd Textile Products 0.01 -0.01Strides Arcolab Ltd. Pharmaceuticals 0.01 -0.01Wipro Ltd. Software 0.01 -0.01Hedged - Total 68.00 -68.12Listed/Awaiting Listing on Stock Exchange - Total 68.00 -68.12Mutual Fund UnitsKotak Liquid Plan A Mutual Fund Units 12.80Mutual Fund Units - Total 12.80TERM DEPOSITSKotak Mahindra Bank Ltd. 11.71IndusInd Bank Ltd. 2.05Ratnakar Bank Ltd 1.83Term Deposits - Total 15.59Collateral Borrowing & Lending obligation 0.52Net Current Assets/(Liabilities) 3.09Grand Total 100


Mutual Fund Units CBLO & Term Deposits & Rev.Repo

Banks Pharmaceuticals Finance Auto Petroleum ProductsCement Consumer Non Durables SoftwareOthers

16.11

12.8

12.01

7.857.336.61

5.43

5.42

5.13

2.6218.69

KOTAK EQUITY SAVINGS FUNDAn Open Ended Equity Fund



Inception Date

Fund Managers

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

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

October 13, 2014

Mr. Deepak Gupta & Mr. Abhishek Bisen

75% of Crisil Liquid Fund & 25% in CNX Nifty

AAUM as on June 30, 2015: ̀ 501.53

A) Regular Plan


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

Portfolio Turnover: 196.61%$Beta: 0.81$ ##Sharpe : -0.01$Standard Deviation : 3.23%

$Source: ICRAMFI Explorer.




Additional Investment: `1000 & in multiples of `1 for purchase and for `0.01 for switches


Entry Load: Nil.

Exit Load:

I) For exit within 1 year from date of allotment of units: 1%;

ii) For exit after 1year from the date of allotment of units: Nil. Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme.

iii) Units issued on reinvestment of dividends shall not be subject to entry and exit load.

EQUITY SCHEMES

16

INVESTMENT STYLE


Low

Medium

High

Maturity


Large

Mid

Small

Style


PORTFOLIO

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Non-HedgeCNX NIFTY-SEP2015 0.13Strides Arcolab Ltd. Pharmaceuticals -1.26Tata Consultancy Services Ltd. Software -4.49CMC Ltd. Software 4.89HDFC Bank Ltd. Banks 1.72Lupin Ltd. Pharmaceuticals 1.55Maruti Suzuki India Limited Auto 1.44HCL Technologies Ltd. Software 1.29Infosys Ltd. Software 1.27Shasun Pharmaceuticals Ltd. Pharmaceuticals 1.24IndusInd Bank Ltd. Banks 1.22Dr Reddys Laboratories Ltd Pharmaceuticals 1.09Bharat Petroleum Corporation Ltd. Petroleum Products 1.05Bosch Limited Auto Ancillaries 0.93Hindustan Unilever Ltd. Consumer Non Durables 0.84Axis Bank Ltd Banks 0.81Bharti Airtel Ltd. Telecom - Services 0.69Larsen And Toubro Ltd. Construction Project 0.66Britannia Industries Ltd. Consumer Non Durables 0.60ICICI Bank Ltd. Banks 0.55Tata Motors Ltd. Auto 0.47Bajaj Finance Limited Finance 0.46Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.46Emami Ltd. Consumer Non Durables 0.44Coal India Ltd. Minerals/Mining 0.43Idea Cellular Ltd. Telecom - Services 0.38Eicher Motors Ltd Auto 0.36State Bank Of India Banks 0.35Sun Pharma Advance Research Co.Ltd Pharmaceuticals 0.34Bharti Infratel Ltd. Telecom - Equipment & Accessories 0.32Cipla Ltd. Pharmaceuticals 0.31HDFC Ltd. Finance 0.30Zee Entertainment Enterprises Ltd Media and Entertainment 0.29Reliance Industries Ltd. Petroleum Products 0.28Bajaj Finserv Ltd. Finance 0.27Marico Ltd. Consumer Non Durables 0.23Dish TV India Ltd. Media and Entertainment 0.22Bajaj Auto Ltd. Auto 0.20Yes Bank Ltd Banks 0.20Ashok Leyland Ltd. Auto 0.18UPL Ltd Pesticides 0.17Asian Paints Ltd. Consumer Non Durables 0.16ITC Ltd. Consumer Non Durables 0.16Glenmark Pharmaceuticals Ltd Pharmaceuticals 0.15Power Grid Corporation Of India Ltd Power 0.14Cadila Healthcare Ltd. Pharmaceuticals 0.12LIC Housing Finance Ltd. Finance 0.11Shriram Transport Finance Co Ltd. Finance 0.11Bank Of Baroda Banks 0.10Hindustan Petroleum Corporation Ltd Petroleum Products 0.10Bharat Electronics Ltd Industrial Capital Goods 0.09Aurobindo Pharma Ltd. Pharmaceuticals 0.08Bharat Forge Ltd. Industrial Products 0.08National Buildings Construction Corporation Limited Construction 0.07Tech Mahindra Ltd. Software 0.07Pidilite Industries Ltd. Chemicals 0.05Ultratech Cement Ltd. Cement 0.05Just Dial Limited Software 0.04Oracle Financial Services Software Ltd Software 0.04Container Corporation of India Ltd. Transportation 0.03Motherson Sumi Systems Ltd. Auto Ancillaries 0.03Voltas Ltd. Construction Project 0.01Non-Hedged- Total 30.29 -5.62HedgedHDFC Bank Ltd. Banks 4.11 -4.11Tata Communications Ltd Telecom - Services 3.41 -3.39Reliance Capital Ltd. Finance 3.13 -3.05Jain Irrigation Systems Ltd. Industrial Products 1.97 -1.98ITC Ltd. Consumer Non Durables 1.66 -1.66Power Finance Corporation Ltd. Finance 1.45 -1.45Yes Bank Ltd Banks 1.42 -1.42Dr Reddys Laboratories Ltd Pharmaceuticals 1.23 -1.23Tata Chemicals Ltd. Chemicals 1.23 -1.24Century Textiles & Industries Ltd. Cement 1.18 -1.18SKS Microfinance Limited Finance 1.16 -1.16Strides Arcolab Ltd. Pharmaceuticals 1.13 -1.13Reliance Infrastructure Ltd Power 1.10 -1.06Tata Consultancy Services Ltd. Software 1.09 -1.09UCO Bank Banks 1.06 -1.06IFCI Ltd. Finance 0.96 -0.94HDFC Ltd. Finance 0.83 -0.83Eicher Motors Ltd Auto 0.78 -0.78Axis Bank Ltd Banks 0.72 -0.72Aurobindo Pharma Ltd. Pharmaceuticals 0.69 -0.69NHPC Limited Power 0.66 -0.65Maruti Suzuki India Limited Auto 0.62 -0.62Oracle Financial Services Software Ltd Software 0.61 -0.61Cipla Ltd. Pharmaceuticals 0.54 -0.54Hindustan Unilever Ltd. Consumer Non Durables 0.53 -0.53Castrol (India ) Ltd. Petroleum Products 0.46 -0.46Reliance Industries Ltd. Petroleum Products 0.43 -0.43IRB Infrastructure Developers Ltd Construction 0.41 -0.41

EQUITY SCHEMES

17

KOTAK EQUITY SAVINGS FUNDAn Open Ended Equity Fund


Kotak Equity Savings Fund NAV as on , : `10.7388 (Growth Option), 10.4674 (Monthly Dividend Option), 10.4617 (Quarterly Dividend Option), `10.7849 (Direct Growth Option)Dividend Option)

June 30 2015, `10.4948 (Direct Monthly Dividend Option), `10.4926 (Direct Quarterly

` `

Notes:

#Term Deposit as provided above is towards margin for derivatives transactions


PORTFOLIO

L&T Finance Holdings Ltd Finance 0.41 -0.41Adani Power Ltd Power 0.39 -0.39UPL Ltd Pesticides 0.36 -0.36Sun TV Limited. Media and Entertainment 0.34 -0.34Syndicate Bank Banks 0.30 -0.30Bank Of Baroda Banks 0.27 -0.27Adani Enterprises Ltd Trading 0.25 -0.25Dabur India Ltd Consumer Non Durables 0.25 -0.25Oil & Natural Gas Corporation Ltd. Oil 0.24 -0.24Dewan Housing Finance Corporation Ltd. Finance 0.22 -0.22Britannia Industries Ltd. Consumer Non Durables 0.21 -0.21Tata Global Beverages Limited Consumer Non Durables 0.21 -0.21Andhra Bank Banks 0.18 -0.18Bharat Electronics Ltd Industrial Capital Goods 0.16 -0.16Indiabulls Real Estate Ltd Construction 0.16 -0.16Engineers India Ltd. Construction Project 0.14 -0.14Pidilite Industries Ltd. Chemicals 0.14 -0.14Infosys Ltd. Software 0.13 -0.13Wockhardt Ltd. Pharmaceuticals 0.13 -0.13Adani Port and Special Economic Zone Limited Transportation 0.10 -0.10Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.10 -0.10Petronet LNG Ltd. Gas 0.10 -0.10Mcleod Russel India Ltd Consumer Non Durables 0.08 -0.08Amara Raja Batteries Ltd. Auto Ancillaries 0.05 -0.05Cairn India Limited Oil 0.05 -0.05Karnataka Bank Ltd Banks 0.04 -0.04Industrial Development Bank of India Ltd. Banks 0.03 -0.03Federal Bank Ltd. Banks 0.02 -0.02Jaiprakash Associates Ltd Construction 0.02 -0.02Jubilant Foodworks Limited Consumer Non Durables 0.02 -0.02Shriram Transport Finance Co Ltd. Finance 0.02 -0.02United Breweries Ltd. Consumer Non Durables 0.02 -0.02Bharat Petroleum Corporation Ltd. Petroleum Products 0.01 -0.01Just Dial Limited Software 0.01 -0.01Rural Electrification Corporation Ltd Finance 0.01 -0.01Hedged - Total 39.74 -39.59Listed/Awaiting Listing on Stock Exchange - Total 70.03 -45.21Government Dated Securities7.88% Central Government SOV 8.548.17% Central Government SOV 1.34Government Dated Securities - Total 9.88TERM DEPOSITSKotak Mahindra Bank Ltd.# 11.74Standard Chartered Bank Ltd 1.97Ratnakar Bank Ltd # 1.85Term Deposits - Total 15.56Collateral Borrowing & Lending obligation 2.22Net Current Assets/(Liabilities) 2.31Grand Total 100

This product is suitable for investors who are seeking*:• Income from arbitrage opportunities in the equity market & long term

capital growth• Investment predominantly in arbitrage opportunities in the cash &

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


PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


CBLO & Term Deposits & Rev.Repo Banks FinanceSoftware Pharmaceuticals

Auto

Government Dated SecuritiesConsumer Non Durables Telecom - Services

Petroleum Products Others

17.78

13.1

9.88

9.449.44

9.06

5.51

4.48

4.052.33 14.93

18

KOTAK LIQUIDAn Open - Ended Debt Scheme


Issuer/Instrument Assets

Industry/Rating % to Net

Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsIndiabulls Housing Finance Limited CARE AAA 1.21Shriram City Union Finance Ltd. CRISIL AA- 0.55HDFC Ltd. CRISIL AAA 0.24Corporate Debt/Financial Institutions - Total 2Money Market InstrumentsCommercial Paper(CP)/Certificate of Deposits(CD)Corporate Debt/Financial InstitutionsVedanta Ltd. CRISIL A1+ 8.84HDFC Ltd. ICRA A1+ 8.23Adani Transmission Ltd FITCH A1+(IND) 3.63Aditya Birla Finance Ltd. ICRA A1+ 3.56Reliance Jio Infocomm Limited CRISIL A1+ 3.55Muthoot Finance Ltd CRISIL A1+ 2.95Au Financiers (India) Limited FITCH A1+(IND) 2.40Reliance Jio Infocomm Limited CARE A1+ 2.40Edelweiss Commodities Services Ltd.CRISIL A1+ 2.05Mahindra & Mahindra Financial Services Ltd. CRISIL A1+ 1.92Adani Port and Special Economic Zone Limited ICRA A1+ 1.81Edelweiss Financial Services Limited CRISIL A1+ 1.51CESC Ltd. CARE A1+ 1.21Sadbhav Engineering Ltd. CARE A1+ 1.21



Religare Finvest Ltd. FITCH A1+(IND) 0.90Reliance Capital Ltd. CRISIL A1+ 0.36Aditya Birla Money Ltd CRISIL A1+ 0.30L & T Finance Limited CARE A1+ 0.30Gruh Finance Ltd CRISIL A1+ 0.06Corporate Debt/Financial Institutions - Total 47.19Public Sector UndertakingsExport-Import Bank of India. CRISIL A1+ 9.55IDBI Bank Ltd. CRISIL A1+ 8.42Punjab & Sind Bank CRISIL A1+ 6.31Steel Authority of India Ltd. CARE A1+ 4.21Corporation Bank CRISIL A1+ 0.06Public Sector Undertakings - Total 28.55Treasury Bills91 Days Treasury Bill 10/09/2015 SOV 3.0991 Days Treasury Bill 17.09.2015 SOV 1.74182 Days Treasury Bill 10/09/2015 SOV 1.2191 Days Treasury Bill 15/10/2015 SOV 0.48Treasury Bills - Total 6.52TERM DEPOSITSSyndicate Bank 6.07Ratnakar Bank Ltd 0.61Karur Vysya Bank Ltd. 0.36Term Deposits - Total 7.04Collateral Borrowing & Lending obligation 8.51Net Current Assets/(Liabilities) 0.19Grand Total 100

PORTFOLIO

INVESTMENT STYLEDEBT SCHEMES


Inception Date

Fund Managers

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To provide reasonable returns and high level of liquidity by investing in debt and money market instruments of different maturities so as to spread risk across different kinds of issuers in the debt markets

Regular Plan - October 5, 2000;

Institutional Plan - March 14, 2003;

Plan A - November 4, 2003

Mr. Deepak Agrawal

CRISIL Liquid Fund

AAUM as on June 30, 2015: `7885.67

Plans: a) Regular & b) Institutional (discontinued for further subscriptions w.e.f. October 1, 2012) c) Plan A (Previously known as Institutional Premium Plan) d) Direct Plan / Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans)

Daily, Weekly (Every Monday) (applicable for all plans)

$Standard Deviation: 0.15%,

Modified Duration: 0.09 yrs,

YTM: 7.55% $Source: ICRAMFI Explorer. Standard

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

Initial Investment: Plan A - `5000 and in multiple of `1 for purchase and for `0.01 for switches


Ideal Investment Horizon: 1 - 15 days


Exit Load: Nil. (applicable for all plans)Note - Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans)

Investors understand that their principal will be at low risk

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income over a short term investment horizon• Investment in debt & money market securities* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL

Short Medium Long Volatiliy

Low

Medium

High

Maturity

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.10 years

Kotak Liquid Plan A Fund NAV as on June 30, 2015: `2895.4271 (Growth Option), 2898.9804 (Direct Growth Option),`1000.2318 (Weekly Dividend), ̀ 1005.3516 (Direct Weekly Dividend), ̀ 1222.8100 (Daily Dividend), ̀ 1222.8100 (Direct Daily Dividend)

`

RATING PROFILESECTOR ALLOCATION (%)

90.38

Commercial Paper (CP)/Certificate of Deposits (CD)CBLO & Term Deposits & Rev.RepoDebentures and Bonds Treasury Bills

98.84

-22.90

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

CBLO & Term Deposits & Rev.RepoNet Current Assets

75.74

15.55

6.52 2 0.19

83.71

15.55

0.550.19

19

KOTAK FLOATER SHORT TERMAn Open - Ended Debt Scheme




Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsHDFC Ltd. CRISIL AAA 1.53%HDB Financial Services Ltd. CRISIL AAA 0.98%Kotak Mahindra Prime Ltd. CRISIL AA+ 0.34%Hero FinCorp Ltd. CRISIL AA+ 0.31%Corporate Debt/Financial Institutions - Total 3.16%Money Market InstrumentsCommercial Paper(CP)/Certificate of Deposits(CD)Corporate Debt/Financial InstitutionsSuraksha Reality Ltd (Secured by Equity shares of Sun Pharmaceuticals Industries Ltd) CARE A1+ 5.74%HDFC Ltd. ICRA A1+ 5.63%Muthoot Finance Ltd CRISIL A1+ 5.15%Edelweiss Financial Services Ltd CRISIL A1+ 4.87%Manappuram Finance Ltd CRISIL A1+ 4.83%Reliance Capital Ltd. CRISIL A1+ 3.68%Religare Enterprises Limited ICRA A1+ 3.64%HDFC Ltd. CRISIL A1+ 2.96%Hinduja Leyland Finance Ltd. CARE A1+ 2.43%Piramal Enterprises Limited CRISIL A1+ 2.11%Bharat Alluminum Co. Ltd. CRISIL A1+(SO) 1.94%Reliance Jio Infocomm Limited CARE A1+ 1.81%Tata Power Company Ltd. ICRA A1+ 1.80%Tata Motors Finance SolutionsPrivate Limited (100% subsidiary of Tata Motors Finance Ltd) CRISIL A1+ 1.52%Indiabulls Housing Finance Ltd CRISIL A1+ 1.22%RHC Finance Private Limited FITCH A1+(IND)(SO) 1.21%RHC Finance Private Limited FITCH A1+(IND) 1.21%Sundaram Finance Ltd. CRISIL A1+ 1.21%



Muthoot Fincorp Ltd. CRISIL A1+ 1.20%Vedanta Ltd. CRISIL A1+ 0.60%AXIS Bank Ltd. CRISIL A1+ 0.30%L & T Finance Limited CARE A1+ 0.30%Vodafone India Limited CRISIL A1+ 0.30%Aditya Birla Money Ltd CRISIL A1+ 0.18%Aditya Birla Nuvo Limited ICRA A1+ 0.12%Edelweiss Commodities Services Ltd. CRISIL A1+ 0.06%Tata Capital Housing Finance Ltd; CRISIL A1+ 0.06%Corporate Debt/Financial Institutions - Total 56.08%Public Sector UndertakingsExport-Import Bank of India. CRISIL A1+ 10.76%IDBI Bank Ltd. CRISIL A1+ 6.71%Punjab & Sind Bank CRISIL A1+ 6.66%Steel Authority of India Ltd. CARE A1+ 3.63%Rural Electrification Corporation Ltd. CRISIL A1+ 2.43%Bank of India CRISIL A1+ 0.55%Andhra Bank CRISIL A1+ 0.36%Public Sector Undertakings - Total 31.10%Reverse Repo 1.12%Treasury Bills91 Days Treasury Bill 10/09/2015 SOV 3.65%91 Days Treasury Bill 15/10/2015 SOV 2.42%91 Days Treasury Bill 05/11/2015 SOV 1.20%182 Days Treasury Bill 24/09/2015 SOV 0.06%91 Days Treasury Bill 24/09/2015 SOV 0.06%Treasury Bills - Total 7.39%TERM DEPOSITSHDFC Bank Ltd. 7.32%Term Deposits - Total 7.32%Net Current Assets/(Liabilities) -6.17%Grand Total 100%

PORTFOLIO



Inception Date

Fund Managers

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To reduce the interest rate risk associated with investments in fixed rate instruments by investing predominantly in floating rate securities, money market instruments and using appropriate derivatives.

July 14, 2003

Mr. Deepak Agrawal

CRISIL Liquid Fund

AAUM as on June 30, 2015: `6335.15

A) Regular Plan

B) Direct P lan/Opt ions: Div idend Reinvestment & Growth (applicable for all plans

Daily Weekly (Every Monday), Monthly (12th of every Month)





Initial Investment: ` 5 0 0 0 U n d e r growth, weekly dividend and monthly dividend option & `1,00,000 under Daily Dividend Reinvestment option,


Ideal Investment Horizon: 1-15 days


Exit Load: Nil (applicable for all plans) Note - Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans)


Low

Medium

High

Maturity


Kotak Floater Short Term Fund NAV as on June 30, 2015: 2340.5293 (Growth Option), 2343.4337 (Direct Growth Option),`1012.2085 (Weekly Dividend), `1005.3937 (Monthly Dividend), `1010.7421 (Direct Monthly Dividend), ̀ 1011.6200 (Daily Dividend), ̀ 1011.6200 (Direct Daily Dividend)

``1013.8698 (Direct Weekly Dividend),

`

Investors understand that their principal will be at low risk

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income over a short term investment horizon• Investment in floating rate securities, debt & money

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

PRODUCT LABEL

SECTOR ALLOCATION (%)SECTOR ALLOCATION (%) RATING PROFILE (%)

88.62

8.85

Commercial Paper (CP)/Certificate of Deposits (CD)CBLO & Term Deposits & Rev.RepoDebentures and Bonds

Net Current AssetsTreasury Bills

95.58

8.85

-8.34

A1+, AAA, A1+, AAA, A1+(IND), A1+(IND)(SO), A1+, SOVCBLO & Term Deposits & Rev.RepoA+

Net Current Assets AA+, AA(IND)

87.18

8.447.39

3.16 -6.17

97.08

8.44

0.65

-6.17

20

KOTAK TREASURY ADVANTAGE FUND(Formerly Known as Kotak Floater Long Term Scheme)An Open – Ended Debt Scheme(As on 31, 2015)August



Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsL & T Infrastructure FinanceCompany Ltd. CARE AA+ 5.54Indiabulls Housing Finance Limited CARE AAA 4.89Kotak Mahindra Prime Ltd. CRISIL AAA 4.89Bahadur Chand InvestmentsPrivate Limited (one of the holding company of Hero Motor Corp Ltd.) ICRA AA 2.78Tata Capital Financial Services Limited CRISIL AA+ 2.51Adani Power Ltd (lendingagainst shares of Adani Ports and SEZ Ltd) BRICKWORK

BWR A1+ (SO) 2.06Talwandi Sabo Power Limited(backed by unconditional and irrevocable guarantee of Vedanta Ltd) CRISIL AA 1.78HPCL Mittal Energy Ltd. ICRA AA- 1.32Grand View Estate Pvt Ltd (backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & CoPvt Ltd) ICRA AA 1.11Dewan Housing Finance Corporation Ltd. CARE AAA 0.56Mandava Holdings Private Limited (backed by unconditionaland irrevocable undertaking by Axis Capital) ICRA AAA 0.22Tata Capital Housing Finance Ltd; CRISIL AA+ 0.16Tata Motors Finance SolutionsPrivate Limited (100 subsidiaryof Tata Motors Finance Ltd) CRISIL AA 0.16Tata Power Company Ltd. CRISIL AA- 0.06Corporate Debt/Financial Institutions - Total 28.04Public Sector UndertakingsExport-Import Bank of India. CRISIL AAA 4.43Nabha Power Ltd. (backed


by unconditional and irrevocableguarantee by Larsen & Toubro Ltd.) CRISIL AAA 2.22Power Finance Corporation Ltd. CRISIL AAA 0.67Public Sector Undertakings - Total 7.32Money Market InstrumentsCommercial Paper(CP)/Certificate of Deposits(CD)Corporate Debt/Financial InstitutionsPiramal Enterprises Limited ICRA A1+ 13.13Edelweiss Financial Services Ltd CRISIL A1+ 7.12ONGC Manglore Petrochemicals ICRA A1+ 6.49Suraksha Reality Ltd (Secured byEquity shares of Sun Pharmaceuticals Industries Ltd) CARE A1+ 4.51Adani Power Ltd (Secured by Equity shares of Adani Ports and SEZ Ltd) ICRA A1+ 4.24Mahindra & Mahindra Financial Services Ltd. CRISIL A1+ 3.28Tata Motors Finance Solutions Private Limited (100 subsidiary of Tata MotorsFinance Ltd) CRISIL A1+ 3.24HDFC Ltd. ICRA A1+ 3.17Shapoorji Pallonji and Company Private Limited ICRA A1+ 2.15ICICI Home Finance Company LtdICRA A1+ 0.98Sundaram Finance Ltd. CRISIL A1+ 0.11Corporate Debt/Financial Institutions - Total 48.42Public Sector UndertakingsExport-Import Bank of India. CRISIL A1+ 6.42Punjab & Sind Bank CRISIL A1+ 4.36Public Sector Undertakings - Total 10.78Treasury Bills91 Days Treasury Bill 05/11/2015 SOV 0.03Treasury Bills - Total 0.03TERM DEPOSITSHDFC Bank Ltd. 0.89Term Deposits - Total 0.89Collateral Borrowing & Lending obligation 1.18Net Current Assets/(Liabilities) 3.34Grand Total 100

PORTFOLIO



Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

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

August 13, 2004

Mr. Deepak Agrawal

CRISIL Liquid Fund

AAUM as on June 30, 2015: `4054.19

A) Regular Plan

B) Direct Plan/Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans)

Daily Monthly (12th of every Month), Weekly (Every Monday)



YTM: 8.32%$Source: ICRAMFI Explorer. Standard


Initial Investment: (i) Dividend Re-investment & Growth- `5000 & above (ii) Dividend Payout (Weekly) - ̀ 1,00,00,000 & above


Ideal Investment Horizon: 1-3 months


Exit Load: Nil.(applicable for all plans) Note - Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans)


Low

Medium

High

Maturity

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.50 years.

Kotak Treasury Advantage Fund NAV as on June 30 , 2015 : 10.0798 (Daily Dividend - Direct),

`10.5378 (Monthly Dividend - Direct), ̀ 10.1609 (Weekly Dividend - Direct), ̀ 22.8719 (Growth - Direct Option)

`

` `22.7356 (Growth Option), `10.1214 (Monthly Dividend Option), `10.1450 (Weekly Dividend Option), 10 .0798 (Da i l y D i v i dend Opt ion ) ,


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income over a short term investment horizon• Investment in debt & money market securities* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL

RATING PROFILE

19.67

13.84

BWR A1+ (SO), A1+, AAA, A1+, AAA, A1+, AAA, SOVAA+, AA, AA-CBLO & Term Deposits & Rev.Repo

Net Current AssetsCommercial Paper (CP)/Certificate of Deposits (CD)Debentures and BondsCBLO & Term Deposits & Rev.Repo

Treasury BillsNet Current Assets

54.06 33.44

13.84

59.235.36

3.34 2.070.03

79.17

15.42

3.34 2.07

KOTAK BANKING AND PSU DEBT FUNDEarlier known as Kotak Mahindra Gilt Savings Scheme - 98 - Savings Plan.An Open - Ended Debt Scheme(As on 31, 2015)August



Kotak Banking And PSU Debt Fund NAV as on June 30, 2015: `31.7531 (Growth Option), 31.8685 (Direct Growth Option),`10.6793 (Monthly Dividend), ̀ 10.8853 (Direct Monthly Dividend), ̀ 10.0335 (Daily Dividend Reinvestment), ̀ 10.0587 (Direct Daily Dividend Reinvestment), ̀ 15.8054 (Annual Dividend), ̀ 16.7060 (Direct Annual)

`


Low

Medium

High

Maturity

21


Debt Instruments



Power Finance Corporation Ltd. CRISIL AAA 14.27


Corporation Ltd. CRISIL AAA 12.68


Money Market Instruments

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


Export-Import Bank of India. CRISIL A1+ 15.08


IDBI Bank Ltd. CRISIL A1+ 12.23

Andhra Bank CRISIL A1+ 12.04

Vijaya Bank CRISIL A1+ 9.11

Punjab & Sind Bank CRISIL A1+ 9

Bank of Maharashtra CRISIL A1+ 7.49


Treasury Bills

364 Days Treasury Bill 04/08/2016 SOV 5.28

Treasury Bills - Total 5.28


Net Current Assets/(Liabilities 1.18

Grand Total 100

PORTFOLIOInvestment Objective

Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To generate income by predominantly investing in debt & money market securities issued by Banks & PSUs and Reverse repos in such securities, sovereign securities issued by the Central Government and State Governments, and / or any security unconditionally guaranteed by the Govt. of India.

December 29,1998

Mr. Deepak Agrawal

Crisil Liquid Fund

AAUM as on June 30, 2015: `339.12

A) Regular Plan


Daily, Monthly (12th of every Month) & Annual





Initial Investment: Dividend Payout, Dividend Re-investment & Growth ̀ 5000 & above.

Additional Investment: `1000 & in multiples of ̀ 1.



Exit Load: Nil (applicable for all plans) Note - Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans)


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income over a short to medium term investment horizon• Investment in debt & money market securities of PSUs,

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

PRODUCT LABEL

13.56

Net Current AssetsCBLO & Term Deposits & Rev.Repo

Debentures and BondsCBLO & Term Deposits & Rev.RepoA1+, AAA, SOV Net Current Assets

96.83

64.95

26.95

5.28

1.64 1.18

97.18

1.641.18

22

KOTAK LOW DURATION FUND (Formerly known as PineBridge India Short Term Fund)An Open - Ended Debt Scheme(As on 31, 2015)August



Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsHPCL Mittal Energy Ltd. ICRA AA- 10.94Dalmia Bharat Ltd ICRA AA- 10.28Dewan Housing Finance Corporation Ltd. CARE AAA 8.93Indiabulls Housing Finance Ltd CARE AAA 6.07Muthoot Fincorp Ltd. CRISIL A 5.03Pune Solapur Expressways Pvt. Ltd.(toll roadproject of Tata Realty &Infrastructure Ltd) ICRA A 4.42Indostar Capital Finance Pvt Ltd CARE AA- 3.82Lands End Properties Private Ltd(backed by unconditional andirrevocable undertaking byIndian Hotels) CARE AA+(SO) 3.42Shivprasad Realty Pvt Ltd (backed by unconditional and irrevocable undertaking by Axis Capital) ICRA AAA 2.75Emami Realty Ltd (Secured byEquity shares of Emami Ltd) BRICKWORK

BWR AA-(SO) 2.58Suraksha Reality Ltd (Secured by Equity shares of Sun Pharmaceuticals Industries Ltd) 2.53Adani Power Ltd (Secured by Equity shares of Adani Ports and SEZ Ltd) BRICKWORK

BWR A1+ (SO) 2.34Hero Realty Ltd(Guaranteed by



a Hero Group company) ICRA A+ 1.78HDB Financial Services Ltd. CRISIL AAA 1.66GE Capital Services India. CRISIL AAA 1.51Tata Motors Ltd. CARE AA+ 0.30Tata Capital Housing Finance Ltd CRISIL AA+ 0.26Muthoot Finance Ltd CRISIL AA- 0.25HDB Financial Services Ltd. CARE AAA 0.07Fullerton India Credit Co. Ltd. ICRA AA+ 0.01Corporate Debt/Financial Institutions - Total 68.95Public Sector UndertakingsPower Finance Corporation Ltd. CRISIL AAA 2.77Public Sector Undertakings - Total 2.77Money Market InstrumentsCommercial Paper(CP)/Certificate of Deposits(CD)Corporate Debt/Financial InstitutionsBharat Alluminum Co. Ltd. CRISIL A1+ 7.30Muthoot Finance Ltd CRISIL A1+ 4Tata Motors Finance SolutionsPrivate Limited (100 subsidiary ofTata Motors Finance Ltd) CRISIL A1+ 3.76Edelweiss CommoditiesServices Ltd. CRISIL A1+ 2.42HDFC Ltd. ICRA A1+ 2.34Mahindra & MahindraFinancial Services Ltd. CRISIL A1+ 1.99Corporate Debt/Financial Institutions - Total 21.81Public Sector UndertakingsNational Bank for Agriculture and Rural Development CRISIL A1+ 1.21Public Sector Undertakings - Total 1.21Collateral Borrowing & Lending obligation 5.74Net Current Assets/(Liabilities) -0.48Grand Total 100

PORTFOLIO



Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

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

March 6, 2008

Mr. Deepak Agrawal

CRISIL Liquid Fund

AAUM as on June 30, 2015: ̀ 333.01

A) Regular B) Direct Plan / Options: Dividend Payout, Dividend Reinvestment & Growth (dividend payout is available under monthly dividend only) (applicable for all plans)

Weekly and Monthly






Additional Investment: `1000 & in multiples of `1 for purchase and for `0.01 for switches.


Entry Load: Nil.

Exit Load: Nil.

Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme;

Note - Units issued on reinvestment of dividends shall not be subject to entry and exit load.


Low

Medium

High

Maturity


Kotak Low Duration Fund NAV as on , 2015: `1755.1589 (Retail Plan-Growth Option), 1045.0591 (RetailPlan-Weekly Dividend),`1030.0620 (Retail Plan-Monthly Dividend), `1708.5356 (Standard Plan-Growth Option), `1014.6893 (Standard Plan-Weekly Dividend), `1020.4127 (Standard Plan-Monthly Dividend), `1727.3279 (Direct Plan- Growth Option), `1058.7818 (Direct Plan- Weekly Dividend), ̀ 1037.6561 (Direct Plan- Monthly Dividend). ̀ 1255.7196 (Direct Plan- Bonus)

June 30 `

Investors understand that their principal will be at moderate risk

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Regular income over short term• Income by focusing on low duration securities* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL

SECTOR ALLOCATION (%) RATING PROFILE

77.03

15.62

10.85

46.96

33.65

10.85

BWR A1+ (SO), AAA, A1+, AAA, A1+, AAA A+, AUnratedAA+, AA+(SO), AA+, AA, BWR AA-(SO), AA-

71.72

23.02

5.74 - 0.48

49.12

31.86

11.235.74

2.53-0.48

KOTAK BOND SHORT TERMAn Open - Ended Debt Scheme


Issuer/Instrument Industry/ % to NetRating Assets

Debt Instruments



Reliance Jio Infocomm Limited CRISIL AAA 8.37

Dewan Housing Finance

Corporation Ltd. CARE AAA 6.42

Mandava Holdings Private Limited

(backed by unconditional and

irrevocable undertaking by

Axis Capital) ICRA AAA 5.90

Kotak Mahindra Prime Ltd. CRISIL AAA 4.63

Sterlite Industries (India) Ltd CRISIL AA 4.21

Shriram Transport Finance Co Ltd. CRISIL AA+ 4.17

Fullerton India Credit Co. Ltd. CARE AAA 4.10

Adani Power Ltd (Secured by Equity

shares of Adani Ports and SEZ Ltd) BRICKWORK

BWR A1+ (SO) 3.68

Mahindra & Mahindra Financial

Services Ltd. FITCH AAA(IND) 3.45

Tata Capital Financial Services Limited CRISIL AA+ 3.39

SP Jammu Udhampur Highway Ltd


irrevocable guarantee of Shapoorji

Pallonji & Co Pvt Ltd) ICRA AAA 2.41

ECL Finance Limited CARE AA 1.61

HDB Financial Services Ltd. CRISIL AAA 1.54

IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 1.28

Piramal Enterprises Limited ICRA AA 0.71

Tata Motors Finance Ltd CRISIL AA 0.18

L & T Finance Limited CARE AA+ 0.11

HDB Financial Services Ltd. CARE AAA 0.04

HDFC Ltd. CRISIL AAA 0.04

IDFC Limited ICRA AAA 0.04




Nabha Power Ltd (backed by

unconditional and irrevocable

guarantee by Larsen & Toubro Ltd.). ICRA AAA 5.95

State Bank Of India. CRISIL AAA 1.79

Rural Electrification Corporation Ltd. CRISIL AAA 1.54

Steel Authority of India Ltd. CARE AAA 0.46



8.4% Central Government SOV 8.20





Money Market Instruments

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


Rural Electrification Corporation Ltd. CRISIL A1+ 2.61

Export-Import Bank of India. CRISIL A1+ 1.72




Grand Total 100


Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

The investment objective of the Scheme is to provide reasonable returns and high level of liquidity by investing in debt instruments such as bonds , debentures and Government securities; and money market i n s t r u m e n t s s u c h a s t r e a s u r y bills,commercial papers, certificates of deposit, including repos in permitted securities of different maturities, so as to spread the risk across different kinds of issuers in the debt markets. The Scheme may invest in the call money/termmoney market in terms of RBI guidelines in this respect. To reduce the risk of the portfolio, the Scheme may also use various derivative and hedging products from time to time, in the manner permitted by SEBI.Subject to the maximum amount permitted from time to time, the Scheme may invest in offshore securities in the manner allowed by SEBI/RBI, provided such investments are in conformity with the investment objective of the Scheme and the prevailing guidelines and Regulations.There is no assurance that the investment objective of the Scheme will be realised.

May 2, 2002

Mr. Deepak Agrawal

Crisil Short - Term Bond Fund

AAUM as on June 30, 2015: ̀ 1805.69

A) Regular Plan


Monthly (12th of every Month), Half Yearly (20th of Mar/Sept)





Initial Investment: (i) Dividend Re-investment & Growth - `5000 & above (ii) Dividend Payout (Monthly Dividend) - `50,000 & above


Ideal Investments Horizon: 6 months & above


Exit Load: (w.e.f. December 11, 2014) I) For redemptions/ switch outs (including SIP/STP) within 30 days from the date of allotment of units, irrespective of the amount of investment: 0.25% ii) For redemptions / switch outs (including SIP/STP) after 30 days from the date of allotment of units, irrespective of the amount of investment: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme. (applicable for all plans)

Note - Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans)


PORTFOLIO

INVESTMENT STYLE


Maturity

Low

Medium

High

DEBT SCHEMES

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments :3.19 years.Kotak Bond Short Term Fund NAV as on June 30, 2015: `26.5153 (Growth Option), 26.8478 (Direct Growth Option),`10.1496 (Dividend), ̀ 10.2483 (Direct Dividend), ̀ 11.2903 (Half Yearly Dividend), ̀ 10.6400 (Direct Half Yearly Dividend)

`

23


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income over a medium term horizon• Investment in debt & money market securities* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL

DEBT SCHEMES

23

82.73

13.50

AA+, AACBLO & Term Deposits & Rev.Repo

CBLO & Term Deposits & Rev.Repo

71.53

13.89

8.62

BWR A1+ (SO), AAA, A1+, AAA, AAA(SO), AAA(IND), A1+, AAA, SOV


78.06

14.19

4.33 2.49 0.93

82.2

14.38

2.49 0.93

24

KOTAK FLEXI DEBTAn Open - Ended Debt Scheme




Debt Instruments



Adani Power Ltd (Secured by Equity

shares of Adani Ports and SEZ Ltd) BRICKWORK

BWR A1+ (SO) 13.23

Tata Capital Housing Finance Ltd; CRISIL AA+ 1.63
















Grand Total 100

PORTFOLIO



Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To maximize returns through an active management of a portfolio of debt and money market securities.

Regular Plan- December 6, 2004 Plan A - May 26, 2008

Mr. Deepak Agrawal

CRISIL Composite Bond

AAUM as on June 30, 2015: ̀ 344.99

A) Regular (discontinued for further subscriptions w.e.f. October 1, 2012) b) Plan A (Previously known as Institutional Plan) c) Direct Plan / Options: Dividend Payout, Dividend Reinvestment, Growth & Bonus (applicable for all plans)

Daily Dividend Reinvestment, Weekly Dividend Reinvestment (Every Monday), Quarterly Dividend Payout and Reinvestment (20th of March, June, September and December of every year) (applicable for all plans)







Ideal Investment Horizon: 6 months & above


Exit Load: I) For redemptions/ switch outs (including SIP/STP) within 180 days from the date of allotment of units, irrespective of the amount of investment: 1.00%, ii) For redemptions/ switch outs (including SIP/STP) after 180 days from the date of allotment of units, irrespective of the amount of investment: NIL, iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme. (applicable for all plans)



Low

Medium

High

Maturity


Kotak Flexi Debt Plan A Fund NAV as on June 30, 2015:10.3084 (Weekly Dividend), 10.0006 (Daily Dividend), 10.0027 (Direct Daily Dividend), 10.7663

(Quarterly Dividend), ̀ 10.4044 (Direct Quarterly Dividend)

`17.4585 (Growth Option), 17.7251 (Direct Growth Option),` ` ` `



Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income over a medium term investment horizon• Investment in debt & money market securities* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL

RATING PROFILESECTOR ALLOCATION (%)

AA+BWR A1+ (SO), AAA, SOV


26.45

Net Current AssetsGovernment Dated SecuritiesDebentures and Bonds


20.57

48.9463.00

26.45

Net Current Assets

47.25

29.76

15.82

7.17

61.44

29.76

7.17

1.63

KOTAK INCOME OPPORTUNITIES FUNDAn Open - Ended Debt Scheme



Inception Date

Fund Managers

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

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

May 11, 2010

Mr. Deepak Agrawal

Crisil Short Term Bond Fund

AAUM as on June 30, 2015: ̀ 1117.66

A) Regular Plan


Weekly (Every Monday), Monthly (12th of every Month), Quarterly (20th of March / June / September / December), Annual (12th of March).







Ideal Investments Horizon: 1 year & above


Exit Load: I) For redemptions/ switch outs (including SIP/ STP) within 1 year from the date of allotment of units,irrespective of the amount of investment: 2%.

II) For redemptions/ switch outs (including SIP/ STP) after 1 year from the date of allotment of units, irrespective of the amount of investment: Nil.

Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme.

Note – Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans)


25


Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsDLF Emporio Ltd CRISIL AA 8.04Adani Power Ltd (Secured by Equity shares of Adani Ports and SEZ Ltd) BRICKWORK

BWR AA- 7.93Au Financiers (India) Limited FITCH A+(IND) 7.87Prestige Estates Projects Limited ICRA A+ 5.94Janalakshami Financial Services Pvt Ltd. ICRA A- 4.80Sterlite Industries (India) Ltd CRISIL AA 4.29Bahadur Chand Investments Pvt Ltd (one of the holding company ofHero MotorCorp Ltd.) ICRA AA 3.97Dalmia Bharat Ltd ICRA AA- 3.34Haldhar Developers Private Limited (backed by unconditional and irrevocable undertaking by Piramal) ICRA LAA-(SO) 3.33Dewan Housing Finance Corp Ltd. CARE AAA 3.18Equitas Micro Finance Pvt Ltd. CARE A 3.18SBK Properties Pvt Ltd.(Guaranteed by a Kalyani Group company) ICRA AA- 3.04Reliance Jio Infocomm Limited CRISIL AAA 2.59Grand View Estate Pvt Ltd (backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd) ICRA AA 2.38Manappuram Finance Ltd CRISIL A+ 2.01SP Jammu Udhampur Highway Ltd. ICRA AAA 2HPCL Mittal Pipelines Ltd. ICRA AA- 1.56Peninsula Land Limited ICRA A 1.48


Hero Realty Ltd (Guaranteed by a Hero Group company) ICRA A+ 1.27Tata Capital Housing Finance Ltd; CRISIL AA+ 0.48HDB Financial Services Ltd. CRISIL AAA 0.24HDFC Ltd. CRISIL AAA 0.09LIC Housing Finance Ltd. CRISIL AAA 0.07Corporate Debt/Financial Institutions - Total 73.08Public Sector UndertakingsIndian Overseas Bank BRICKWORK

BWR A 3.01Tamil Nadu Generation & Distribution Corporation Ltd (backed by unconditional and irrevocable guarantee of Tamilnadu State Government) ICRA A-(SO) 1.63Bank of India BRICKWORK

BWR AA+ 0.85State Bank Of India. CRISIL AAA 0.02Public Sector Undertakings - Total 5.51Money Market InstrumentsCommercial Paper(CP)/Certificate of Deposits(CD)Corporate Debt/Financial InstitutionsHDFC Ltd. ICRA A1+ 5.51ICICI Home Finance Company Limited ICRA A1+ 0.39Corporate Debt/Financial Institutions - Total 5.90Public Sector UndertakingsVijaya Bank CRISIL A1+ 5.55Public Sector Undertakings - Total 5.55Collateral Borrowing & Lending obligation 5.65Net Current Assets/(Liabilities) 4.31Grand Total 100

PORTFOLIO


Maturity

Low

Medium

High


Kotak Income Opportunities Fund NAV as on June 30, 2015: `15.2221 (Growth Option), 15.4591 (Direct Growth Option),`10.0131 (Weekly Dividend), `10.2208 (Monthly Dividend), `10.3574 (Direct Monthly Dividend), `10.3571 (Quarterly Dividend), ̀ 10.3879 (Annual Dividend), ̀ 11.6111 (Direct Annual).



Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income over a medium term investment horizon• Investment in debt & money market securities* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL


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

48.13

24.95

16.54

8.50

AAA, A1+, AAA, A1+

10.32

79.30

8.50


AA+, AA, BWR AA-, AA-, LAA-(SO)

A+, A+(IND), A+, BWR AA, A-, A-(SO),CBLO & Term Deposits & Rev.Repo

Net Current Assets

78.59

11.455.65

4.31

39.21

31.19

19.64

5.65

4.31

51.12 28.83

18.15

AAA, AAA(SO), AAA Net Current Assets

AA+, AA, AA-CBLO & Term Deposits & Rev.Repo

26

KOTAK CORPORATE BOND FUND(Formerly known as PineBridge India Total Return Bond Fund)An Open - Ended Debt Scheme(As on 31, 2015)August



Debt Instruments



HPCL Mittal Energy Ltd. ICRA AA- 12.01

HPCL Mittal Pipelines Ltd. ICRA AA- 11.85


HDFC Ltd. CRISIL AAA 10.67

Shriram Transport Finance Co Ltd CRISIL AA+ 6.27

Ultratech Cement Ltd. CRISIL AAA 5.61

Inox Air Products Ltd. CRISIL AA 3.10

Mahindra & Mahindra

Financial Services Ltd. ICRA AAA 3.05





Export-Import Bank of India. CRISIL AAA 5.42

Airports Authority of India CRISIL AAA 3.09

Rural Electrification Corporation Ltd CRISIL AAA 3.09

National Bank for Agriculture

and Rural Developmet CRISIL AAA 2.78

Steel Authority of India Ltd. CARE AAA 2.49




Grand Total 100

PORTFOLIO



Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

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

September 21, 2007

Mr. Deepak Agrawal

CRISIL Composite Bond Fund

AAUM as on June 30, 2015: ̀ 24.60

Plans: a) Regular & b) Direct Plan

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

Monthly and Quarterly



YTM: 8.60% $Source: ICRAMFI Explorer.

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


Additional Investment: `1000 & in multiples of `1for purchase and for `0.01 for switches.

Ideal Investment Horizon: 1 Year & Above


Exit Load: 1) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment – 2.00%; 2) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment – Nil


Low

Medium

High

Maturity


Kotak Corporate Bond Fund NAV as on June 30, 2015: 1841.9150 (Standard Plan-Growth Option), 1071.1679 (Standard Plan-Weekly Dividend),`1027.4671 (Standard Plan-Monthly Dividend), ̀ 1033.1751 (Standard Plan-Quarterly Dividend), ̀ 1068.9872 (Standard Plan-Daily Dividend), ̀ 1815.0045 (Retail Plan-Growth Option), ̀ 1071.5653 (Retail Plan- Weekly Dividend), ̀ 1043.5694 (Retail Plan- Monthly Dividend), `1070.4375 (Retail Plan-Daily Dividend), ̀ 1866.5330 (Direct Plan- Growth Option), ̀ 1052.0413 (Direct Plan- Monthly Dividend), ̀ 1859.2314 (Institutional Plan-Growth Option)

` `


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Regular income over short term• Income by investing in fixed income securities of varying

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

PRODUCT LABEL

79.95

18.15

80.6

14.68

4.72

47.37

33.23

14.68

4.72

27

KOTAK MEDIUM TERM FUNDAn Open - Ended Debt Scheme


Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsReliance Jio Infocomm Limited CRISIL AAA 10.99SBK Properties Pvt Ltd. ICRA AA- 7.87HPCL Mittal Pipelines Ltd. ICRA AA- 7.11Dewan Housing Finance Corporation Ltd. CARE AAA 7.05Prestige Estates Projects Limited ICRA A+ 6.85Muthoot Finance Ltd ICRA AA- 6.16Haldhar Developers Pvt Ltd ICRA LAA-(SO) 5.39Adani Power Ltd BRICKWORK BWR AA- 4.57Ashirvad Microfinance Pvt Ltd CARE A- 4.56Janalakshami Financial Services Pvt Ltd. ICRA A- 3.68Intime Properties Ltd. FITCH AAA(IND) 3.61Peninsula Land Ltd ICRA A 3.49Equitas Micro Finance Pvt Ltd. CARE A 3.21Tata Power Company Ltd. CRISIL AA- 3.12Bahadur Chand Investments Pvt Ltd ICRA AA 2.29SP Jammu Udhampur Highway Ltd ICRA AAA 2.12Powergrid Vizag Transminssion Ltd CRISIL AAA(SO) 1.83


IOT Utkal Energy Services Ltd. CRISIL AAA 1.44Aasan Developers and Constructions Pvt Ltd ICRA A+ 1.37Fullerton India Credit Co. Ltd. CARE AAA 0.91IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.80India Infoline Finance Limited CARE AA 0.28ECL Finance Limited CARE AA 0.16Corporate Debt/Financial Institutions - Total 88.86Public Sector UndertakingsPower Finance Corporation Ltd. CRISIL AAA 2.48Bank of India BRICKWORK BWR AA+ 2.17Public Sector Undertakings - Total 4.65Government Dated Securities1.44% Central Government SOV 2.37Government Dated Securities - Total 2.37Collateral Borrowing & Lending obligation 1.77Net Current Assets/(Liabilities) 2.35Grand Total 100

PORTFOLIO



Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

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

March 28, 2014

Mr. Deepak Agrawal

CRISIL Composite Bond Fund

AAUM as on June 30, 2015: ̀ 817.95

A) Regular Plan


Quarterly (20th of March / June / September / December), Annually (12th of March)





Initial Purchase: `5,000/- and in multiples of 1 for purchases and for `0.01 for switches.

Additional Purchase: `1000 & in multiples of ̀ 1.for purchases and for ̀ 0.01 for switches.

Ideal Investment Horizon: 2.5 years & above


Exit Load: i) For exit on or within 18 months from date of allotment of units: 2%,

ii) For exit after 18 months from the date of allotment of units: Nil (applicable for all plans)

Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme.



Low

Medium

High

Maturity



Kotak Medium Term Fund NAV as on June 30, 2015:10.2230 (Quarterly Dividend), 10.2257 (Direct Quarterly Dividend), 10.4229 (Annual Dividend), 11.4973 (Direct Annual).

`11.4258 (Growth Option), 11.4974 (Direct Growth Option),` ` ` `

`


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

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

market instruments with a portfolio weighted average maturity between 3-7 years


PRODUCT LABEL

RATING PROFILE

AAA, AAA(SO), AAA(IND),AAA, SOVBWR AA+, AA, BWR AA-,AA-, LAA-(SO)

CBLO & Term Deposits & Rev.RepoNet Current Assets

89.0832.89

A+, A, A-

Government Dated Securities CBLO & Term Deposits & Rev.Repo

Net Current AssetsDebentures and Bonds

97.27

51.00

20.58

28.26

93.51

2.372.35 1.77

39.12

33.6

23.16

2.35 1.77

KOTAK BONDAn Open - Ended Debt Scheme



Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To create a portfolio of debt and money market instruments of different maturities so as to spread the risk across a wide maturity horizon & different kinds of issuers in the debt market.

November 25, 1999

Mr. Abhishek Bisen

Crisil Composite Bond Fund

AAUM as on June 30, 2015: `5298.01

A) Deposit (discontinued for further subscriptions w.e.f. October 1, 2012)

B) Plan A (Previously known as Regular Plan)

C) Direct Plan / Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans)

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

$Standard Deviation: 4.07%

Modified Duration: 8.26 yrs



Initial Investment: Plan A `5000 and in multiple of `1 for purchase and for `0.01 for switches




Exit Load: Nil.


DEBT SCHEMES

28


Debt Instruments



HPCL Mittal Energy Ltd. ICRA AA- 3.09

HPCL Mittal Pipelines Ltd. ICRA AA- 2.42

Reliance Jio Infocomm Limited CRISIL AAA 0.72

Reliance Utilities And Power

Private Limited CRISIL AAA 0.05




Bank of India BRICKWORK

BWR AA+ 1.97

Tamil Nadu Generation &

Distribution Corporation Ltd


irrevocable guarantee of

Tamilnadu State Government) ICRA A-(SO) 1.18













8.45% State Government SOV 0.67



8.72% State Government SOV 0.01




Grand Total 100

PORTFOLIO

INVESTMENT STYLE


Maturity

Low

Medium

High

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments :17.53 years.Kotak Bond Plan A Fund NAV as on June 30, 2015: `39.4245 (Growth Option), 40.0962 (Direct Growth Option),`10.6616 (Quarterly Dividend), `11.2360 (Direct Quarterly Dividend), `24.1540 (Annual Dividend), `20.9515 (Direct Annual Dividend), `26.2802 (Plan A-Bonus Plan), ̀ 11.7019 (Deposit Dividend), ̀ 40.0962 (Bond Plan A-Direct HF dividend)

`


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income over long term investment horizon• Investment in debt & money market securities* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL


10.64

89.38

AAA, AAA(SO), SOV

86.6

9.76

3.320.32

87.7

7.48

3.32 1.180.32

BWR AA+, AA-Net Current Assets

KOTAK GILT INVESTMENTAn Open - Ended Dedicated Gilt Unit Scheme



Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To generate risk-free returns through investments in sovereign securities issued by the Central and /or State Government(s) and/ or reverse repos in such securities.

Regular Plan - December 29, 1998;

PF & Trust Plan - November 11, 2003

Mr. Abhishek Bisen

ISEC Composite

AAUM as on June 30, 2015: ̀ 856.49

Plans- A) Regular Non Direct Plan,

B) PF & Trust Non Direct Plan,

C) Regular Direct Plan, D) PF & Trust Direct Plan/

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

Quarterly (20th of Mar/Jun/Sep/Dec)

$Standard Deviation: A) Regular Plan: 4.44%, B) PF & Trust Plan: 4.46%,







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)


23

INVESTMENT STYLE


Maturity

Low

Medium

High

PORTFOLIOIssuer/Instrument Industry/ % to Net

Rating Assets













Grand Total 100

DEBT SCHEMES

29

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments :18.34 years.

Kotak Gilt Investment Fund NAV as on June 30, 2015: `47.1886 (Regular-Growth), 48.2263 (Regular-Growth-Direct),`11.9033 (Regular-Dividend), `12.3409 (Regular-Dividend-Direct), `48.2222 (PF & Trust-Growth), `49.2476 ( ), `11.3686 (PF & Trust-Dividend)

`PF & Trust-Growth Direct


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income over a long investment horizon• Investments in sovereign securities issued by the Central

and/or State Government(s) and / or reverse repos in such securities.


PRODUCT LABEL

94.62

SECTOR ALLOCATION (%)SECTOR ALLOCATION (%)

94.62

Government Dated Securities Net Current Assets

93.71

6.29

93.71

6.29

KOTAK MONTHLY INCOME PLANAn Open Ended Income Scheme. Monthly Income is not assured & is subject to availability of distributable surplus(As on 31, 2015)August


Inception Date

Fund Managers

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

To enhance returns over a portfolio of Debt Instruments with a moderate exposure in Equity and Equity related Instruments.

December 02, 2003

Mr. Devender Singhal &

Mr. Abhishek Bisen

CRISIL MIP Blended

AAUM as on June 30, 2015: ̀ 127.17

A) Regular Plan


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





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

Ideal Investments Horizon - 1 year & above


Exit Load:




DEBT SCHEMES

30

INVESTMENT STYLE


Low

Medium

High

Maturity


Large

Mid

Small

Style


Infosys Ltd. Software 1.68HDFC Bank Ltd. Banks 0.99Maruti Suzuki India Limited Auto 0.90Larsen And Toubro Ltd. Construction Project 0.82Axis Bank Ltd Banks 0.77State Bank Of India Banks 0.75Tata Consultancy Services Ltd. Software 0.74ITC Ltd. Consumer

Non Durables 0.73HCL Technologies Ltd. Software 0.67Tata Motors Ltd. Auto 0.65Ultratech Cement Ltd. Cement 0.65ICICI Bank Ltd. Banks 0.54IDFC Limited Finance 0.49Hindustan Petroleum Corporation LtdPetroleum Products 0.45Reliance Industries Ltd. Petroleum Products 0.45PVR Ltd. Media

and Entertainment 0.43Bharti Airtel Ltd. Telecom - Services 0.40Finolex Cables Ltd. Industrial Products 0.40PNC INFRATECH LIMITED Construction Project 0.40Colgate Palmolive (India ) Ltd. Consumer

Non Durables 0.39Hero MotoCorp Ltd. Auto 0.38Persistent Systems Limited Software 0.38Adani Port and Special Economic Zone Limited Transportation 0.34Power Mech Projects Ltd Power 0.34Supreme Industries Limited Industrial Products 0.33Bank Of Baroda Banks 0.32Techno Electric & Engineering Co Ltd. Construction Project 0.32Wipro Ltd. Software 0.32


IndusInd Bank Ltd. Banks 0.31JK Cement Ltd. Cement 0.31Federal Bank Ltd. Banks 0.30Strides Arcolab Ltd. Pharmaceuticals 0.29HSIL Ltd. Consumer Durables 0.26Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.25Yes Bank Ltd Banks 0.25Mahindra & Mahindra Ltd. Auto 0.24Shriram Transport Finance Co Ltd. Finance 0.23Atul Ltd. Chemicals 0.22Oil & Natural Gas Corporation Ltd. Oil 0.16D-Link (India) Ltd Hardware 0.04Listed/Awaiting Listing on Stock Exchange - Total 18.89Debt InstrumentsDebentures and BondsPublic Sector UndertakingsIndian Overseas Bank BRICKWORK BWR A 7.15Public Sector Undertakings - Total 7.15Government Dated Securities7.88% Central Government SOV 23.898.24% Central Government SOV 13.888.30% Central Government SOV 12.349.20% Central Government SOV 8.77Government Dated Securities - Total 58.88TERM DEPOSITSStandard Chartered Bank Ltd 7.99Term Deposits - Total 7.99Collateral Borrowing & Lending obligation 0.60Net Current Assets/(Liabilities) 6.49Grand Total 100

PORTFOLIO

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments :11.02 years.Kotak Monthly Income Plan Fund NAV as on June 30, 2015: `23.2125 (Growth Option), 23.6129 (Direct Growth Option),`12.1594 (Monthly Dividend), ̀ 12.2859 (Direct Monthly Dividend), ̀ 12.8647 (Quarterly Dividend), ̀ 13.1127 (Direct Quarterly Dividend)

`


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income & capital growth over a long term horizon• Investment in a portfolio of debt instruments with a

moderate exposure in equity & equity related Instruments.


PRODUCT LABEL

SECTOR ALLOCATION (%) RATING PROFILE

19.28

7.146.65

64.7919.28

7.146.65

64.79

SOV

58.8818.89

8.597.15

6.49

58.8818.89

8.597.15

6.49

BWR A

KOTAK MULTI ASSETALLOCATION FUNDAn Open - Ended Debt Scheme(As on 31, 2015)August


Inception Date

Fund Managers

Benchmark

AAUM (` In Crores)


Dividend Frequency

Ratios


Load Structure

The investment objective of the scheme is to generate income by investing predominantly in debt and money market securities, to generate growth by taking moderate exposure to equity and equity re lated inst ruments and prov ide diversification by investing in Gold ETFs.

January 21, 2011

Mr. Deepak Gupta &Mr. Abhishek Bisen

75% CRISIL Short Term Bond Fund,

15% CNX Nifty and 10% Price of Gold.

AAUM as on June 30, 2015: ̀ 43.67

A) Regular Plan

B) Direct Plan / Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans))

Monthly (12th of Every Month), Quarterly (20th of Mar/Jun/Sep/Dec), Annual (12th of March)









Exit Load: i) For exit within 1 year from the date of allotment of units: 1%. ii) For exit after 1 year from the date of allotment

of units: Nil. iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme.


DEBT SCHEMES

31

INVESTMENT STYLE


Low

Medium

High

Maturity


Large

Mid

Small

Style


HDFC Bank Ltd. Banks 1.22Lupin Ltd. Pharmaceuticals 1.15Maruti Suzuki India Limited Auto 1.11Infosys Ltd. Software 1.05Dr Reddys Laboratories Ltd Pharmaceuticals 1.00HCL Technologies Ltd. Software 0.99IndusInd Bank Ltd. Banks 0.94Hindustan Unilever Ltd. Consumer Non Durables 0.92Axis Bank Ltd Banks 0.68Bosch Limited Auto Ancillaries 0.67Bharat Petroleum Corporation Ltd Petroleum Products 0.65Larsen And Toubro Ltd. Construction Project 0.50Britannia Industries Ltd. Consumer Non Durables 0.47Bharti Airtel Ltd. Telecom - Services 0.45ICICI Bank Ltd. Banks 0.44Tata Motors Ltd. Auto 0.41Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.37Power Mech Projects Ltd Power 0.32Bajaj Finance Limited Finance 0.30Idea Cellular Ltd. Telecom - Services 0.30Eicher Motors Ltd Auto 0.29HDFC Ltd. Finance 0.29Emami Ltd. Consumer Non Durables 0.28Coal India Ltd. Minerals/Mining 0.26ITC Ltd. Consumer Non Durables 0.25Sun Pharma Advance Research Co.Ltd Pharmaceuticals 0.24Cipla Ltd. Pharmaceuticals 0.23Reliance Industries Ltd. Petroleum Products 0.21Yes Bank Ltd Banks 0.20Bajaj Finserv Ltd. Finance 0.17Bharti Infratel Ltd. Telecom -

Equipment & Accessories 0.17Marico Ltd. Consumer Non Durables 0.17UPL Ltd Pesticides 0.16Zee Entertainment Enterprises Ltd Media and Entertainment 0.16Tata Consultancy Services Ltd. Software 0.15Tech Mahindra Ltd. Software 0.14Asian Paints Ltd. Consumer Non Durables 0.13Ashok Leyland Ltd. Auto 0.12Bajaj Auto Ltd. Auto 0.12Bharat Electronics Ltd Industrial Capital Goods 0.12National Buildings Construction Corporation Limited Construction 0.11Power Grid Corp Of India Ltd Power 0.11


Dish TV India Ltd. Media and Entertainment 0.09Aurobindo Pharma Ltd. Pharmaceuticals 0.08Bharat Forge Ltd. Industrial Products 0.08Cadila Healthcare Ltd. Pharmaceuticals 0.08Glenmark Pharmaceuticals Ltd Pharmaceuticals 0.08Shriram Transport Finance Co Ltd Finance 0.08Motherson Sumi Systems Ltd. Auto Ancillaries 0.07Pidilite Industries Ltd. Chemicals 0.05IRB Infrastructure Developers Ltd Construction 0.04TVS Motors Company Ltd Auto 0.04Container Corporation of India Ltd.Transportation 0.03Hindustan Petroleum Corp Ltd Petroleum Products 0.03Siemens Ltd. Industrial Capital Goods 0.03Ultratech Cement Ltd. Cement 0.03Dabur India Ltd Consumer Non Durables 0.02Shree Cement Ltd. Cement 0.02Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.01Jubilant Foodworks Limited Consumer Non Durables 0.01Listed/Awaiting Listing on Stock Exchange - Total 18.89Mutual Fund UnitsKotak Mutual Fund - Kotak Gold ETF Mutual Fund Units 7.16Mutual Fund Units - Total 7.16FuturesHindustan Unilever Ltd.-SEP2015 -0.40Dr Reddys Laboratories Ltd-SEP2015 -0.57CNX NIFTY-SEP2015 -1.32Futures (Market value represents Notional Value) - Total -2.29Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsHindalco Industries Ltd. CRISIL AA- 2.09Corporate Debt/Financial Institutions - Total 2.09Government Dated Securities7.88% Central Government SOV 26.248.17% Central Government SOV 18.798.45% State Government SOV 13.34Government Dated Securities - Total 58.37TERM DEPOSITSKotak Mahindra Bank Ltd.# 2.63Standard Chartered Bank Ltd 2.63Term Deposits - Total 5.26Collateral Borrowing & Lending obligation 6.72Net Current Assets/(Liabilities) 3.80Grand Total 100

PORTFOLIO

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments:11.22 years.Note: #Term Deposit as provided above is towards margin for derivatives transactionsKotak Multi Asset Allocation Fund NAV as on June 30, 2015: `14.2363 (Growth Option), 14.4243 (Direct Growth Option),`11.9337 (Monthly Dividend), `12.0779 (Direct Monthly Dividend), `11.7755 (Quarterly Dividend), `11.8631 (Direct Quarterly Dividend), `11.2067 (Annual Dividend), ̀ 11.8831 (Direct Annual)

`


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:• Income & capital growth over a long term horizon• Investment in a portfolio of debt instruments with a

moderate exposure in equity & equity related instruments and provides diversification by investing in Gold ETFs


PRODUCT LABEL

UnratedNet Current AssetsDerivatives

48.64

20.92

20.33

SOVAA Derivatives

Unrated

48.64

20.92

20.3358.37

18.89

11.98

7.16

3.82.09 -2.29

58.37

18.89

11.98

7.16

3.82.09 2.29

32

Details of exposure across all Debt Funds of Kotak Mahindra Mutual Fund as on 31st August 2015

Issuer Name%age of Exposure

to Debt AUM $ Issuer Name%age of Exposure

to Debt AUM $AXIS Bank Ltd. 0.06Aasan Developers and Constructions Private Limited (Guaranteed by a Piramal Group company) 0.17Adani Port and Special Economic Zone Limited 0.82Adani Power Ltd (Secured by Equity shares of Adani Ports and SEZ Ltd) 1.17Adani Transmission Ltd 0.72Aditya Birla Finance Ltd. 0.72Aditya Birla Money Ltd 0.10Aditya Birla Nuvo Limited 0.02Airports Authority of India 0.06Andhra Bank 0.16Ashirvad Microfinance Private Limited (85% subsidiary of Manappuram Finance Ltd) 0.12Au Financiers (India) Limited 0.71Bahadur Chand Investments Private Limited (one of the holding company of Hero MotorCorp Ltd.) 0.48Bajaj Finance Limited 0.72Bank of India 0.43Bank of Maharashtra 0.06Bhanu Vyapaar Private Limited (Secured by Equity shares of Emami Ltd) 0.10Bharat Alluminum Co. Ltd. 0.85CBLO/REVERSE REPO 3.33CESC Ltd. 0.24Central Government 16.81Corporation Bank 0.01DLF Emporio Ltd 0.24Dalmia Bharat Ltd 0.59Dewan Housing Finance Corporation Ltd. 1.20ECL Finance Limited 0.16Edelweiss Commodities Services Ltd. 0.53Edelweiss Financial Services Limited 2.21Edelweiss Housing Finanance Limited 0.26Emami Enclave Markets Pvt Ltd. (Secured by Equity shares of Emami Ltd) 0.10Emami Realty Ltd (Secured by Equity shares of Emami Ltd) 0.25Equitas Micro Finance Pvt Ltd. 0.18Export-Import Bank of India. 5.50Fullerton India Credit Co. Ltd. 0.30GE Capital Services India. 0.07GSPC Distribution Networks Ltd. (backed by unconditional and irrevocable guarantee of Gujarat State Petroleum Corp group) 0.03Grand View Estate Pvt Ltd (backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd) 0.20Gruh Finance Ltd 0.01HDB Financial Services Ltd. 0.75HDFC Bank Ltd. 1.54HDFC Ltd. 4.63HPCL Mittal Energy Ltd. 1.08HPCL Mittal Pipelines Ltd. 0.53Haldhar Developers Private Limited (backed by unconditional and irrevocable undertaking by Piramal) 0.24Hero FinCorp Ltd. 0.06Hero Realty Ltd(Guaranteed by a Hero Group company) 0.42Hindalco Industries Ltd. 0.00Hinduja Leyland Finance Ltd. 0.48ICICI Home Finance Company Limited 0.19IDBI Bank Ltd. 3.08IDFC Limited 0.21IOT Utkal Energy Services Ltd. 0.31India Infoline Finance Limited 0.24India Infoline Housing Finance Ltd. 0.12Indiabulls Housing Finance Limited 1.31Indian Overseas Bank 0.11Indian Railway Finance Corporation Ltd. 0.05Indostar Capital Finance Private Limited 0.23Infrastructure Leasing & Financial Services Limite 0.02Inox Air Products Ltd. 0.01Intime Properties Ltd. 0.10JM Financial Products Limited 0.15Janalakshami Financial Services Pvt Ltd. 0.24Jyothy Laboratories Limited 0.13Karur Vysya Bank Ltd. 0.07Kotak Mahindra Bank Ltd. 0.01Kotak Mahindra Prime Ltd. 1.11L & T Finance Limited 0.45L & T Infrastructure Finance Company Ltd. 0.60LIC Housing Finance Ltd. 0.65

Lands End Properties Private Limited (backed by unconditional and irrevocable undertaking by Indian Hotels) 0.23Mahindra & Mahindra Financial Services Ltd. 1.97Manappuram Finance Ltd 1.11Mandava Holdings Private Limited (backed by unconditional and irrevocable undertaking by Axis Capital) 0.42Muthoot Finance Ltd 2.00Muthoot Fincorp Ltd. 0.48NHPC Limited 0.01Nabha Power Ltd. (backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd.) 1.13National Bank for Agriculture and Rural Developmen 0.43National Housing Bank 0.31ONGC Manglore Petrochemicals Ltd. 0.70PNB Housing Finance Ltd. 0.01Peninsula Land Limited 0.14Piramal Enterprises Limited 1.93Power Finance Corporation Ltd. 2.74Power Grid Corporation of India Ltd. 0.35Powergrid Vizag Transminssion Ltd. (backed by unconditional and irrevocable guarantee by Powergrid Corp) 0.05Prestige Estates Projects Limited 0.48Pune Solapur Expressways Pvt. Ltd. (toll road project of Tata Realty & Infrastructure Ltd, 100% subsidiary of Tata Sons) 0.21Punjab & Sind Bank 3.10RHC Finance Private Limited 0.48Ratnakar Bank Ltd 0.12Raymond Ltd. 0.22Reliance Capital Ltd. 0.80Reliance Jio Infocomm Limited 2.66Reliance Media Works Limited (backed by unconditional and irrevocable guarantee of Reliance Capital Ltd) 0.03Reliance Utilities And Power Private Limited 0.01Religare Enterprises Limited 0.72Religare Finvest Ltd. 0.18Rural Electrification Corporation Ltd. 2.07SBK Properties Pvt Ltd. (Guaranteed by a Kalyani Group company) 0.30SP Jammu Udhampur Highway Ltd (backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd) 0.28Sadbhav Engineering Ltd. 0.24Sahyadri Agencies Ltd (Secured by Equity shares of Jyothy Laboratories Ltd) 0.15Shapoorji Pallonji and Company Private Limited 0.23Shivprasad Realty Pvt Ltd (backed by unconditional and irrevocable undertaking by Axis Capital) 0.13Shriram City Union Finance Ltd. 0.18Shriram Transport Finance Co Ltd. 0.29Sneha Abasan Pvt Ltd (Secured by Equity shares of Emami Ltd) 0.08Sneha Enclave Pvt Ltd (Secured by Equith shares of Emami Ltd) 0.05Standard Chartered Bank Ltd 0.06State Bank Of India. 0.15State Bank of Hyderabad 0.12State Government 2.13Steel Authority of India Ltd. 1.82Sterlite Industries (India) Ltd 0.42Sundaram BNP Paribas Home Finance Ltd 0.11Sundaram Finance Ltd. 0.31Suraksha Reality Ltd (Secured by Equity shares of Sun Pharmaceuticals Industries Ltd) 1.79Syndicate Bank 1.20Talwandi Sabo Power Limited (backed by unconditional and irrevocable guarantee of Vedanta Ltd) 0.19Tamil Nadu Generation & Distribution Corporation Ltd (backed by unconditional and irrevocable guarantee of Tamilnadu State Government) 0.19Tata Capital Financial Services Limited 0.84Tata Capital Housing Finance Ltd; 0.86Tata Motors Finance Ltd 0.09Tata Motors Finance Solutions Private Limited (100% subsidiary of Tata Motors Finance Ltd) 0.84Tata Motors Ltd. 0.05Tata Power Company Ltd. 0.44Tata Sons Ltd. 0.09Ultratech Cement Ltd. 0.12Vedanta Ltd. 1.87Vijaya Bank 0.40Vizag General Cargo Berth Private Limited (backed by unconditional and irrevocable guarantee of Vedanta Ltd) 0.02Vodafone India Limited 0.06Total 100.00

Industry / Sector %age of Exposure to Debt AUM $

BANK 10.69CASH(CBLO/REVERSE REPO) 3.33CORPORATES 21.33FINANCIAL SERVICES 20.74GOI/TBILLS 18.94NBFC 20.79REAL ESTATE 4.18Total 100.00

$ - includes Hybrid schemes - debt scheme schemes having equity exposure

KOTAK ASSET ALLOCATOR FUNDAn Open – Ended Fund of Funds Scheme(Earlier known as Kotak Equity FOF Scheme)(As on August 31, 2015)




Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency


Load Structure

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

August 9, 2004

Mr. Deepak Gupta

Crisil Balanced Fund

AAUM as on June 30, 2015: ̀ 26.76

A)

B) Regular Plan / Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans)






Exit Load: I) 1% if exit before 1 year from date of allotment.

II) Nil if exit after 1 year from the date of allotment.

Ÿ Exit Load shall be applicable incase of switch from Regular Plan (where broker code is mentioned) to Direct Plan

Ÿ Exit Load shall not be applicable:

Ÿ Incase of switch from Regular Plan (where no b roker code i s mentioned) to Direct Plan

Ÿ In case of switch from Direct Plan to Regular Plan.

III) Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme (applicable for all plans).

Note - Units issued on reinvestment of dividends shall not be subject to entry and exit load. (applicable for all plans)

Regular Plan

FUND OF FUNDS

33

Kotak Asset Allocator Fund NAV as on June 30, : 57.745 (Dividend Option), 58.387 (Direct Dividend Option), 59.323 (Growth Option), `59.450 (Direct Growth Option)

2015 ` ` `

INVESTMENT STYLE


Low

Medium

High

Maturity


Large

Mid

Small

Style

PORTFOLIO


Mutual Fund Units

Kotak Liquid Plan A Debt Scheme 41.91

Kotak Select Focus Fund

Direct Growth Equity Scheme 20.13

Kotak Mahindra Bond Plan Debt Scheme 19.60

Kotak Floater Long Term

Direct Growth Debt Scheme 18.44

Mutual Fund Units - Total 100.08


Grand Total 100

This product is suitable for investors who are seeking*:• Long term capital growth• Investment in open-ended diversified equity schemes and debt schemes of

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

PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


87.20

Debt schemeEquity Scheme

Others

79.95

20.13

-0.08

(formerly known as “PineBridge India – US Equity Fund)An Open Ended Fund of Funds Scheme Investing Overseas(As on August 31, 2015)

INVESTMENT STYLE


Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency


Load Structure

The primary investment objective of the scheme is to provide long term capital appreciation by investing in units of a fund that invests predominantly in equity and equity related securities of companies having assets, products or operations in the United States. However, there is no assurance that the investment objective of the Scheme will be realized.

December 20, 2013

Mr. Deepak Gupta

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

AAUM as on June 30, 2015: ̀ 8.01

A)







Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment – 1%;


iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme;


Regular Plan

KOTAK US EQUITY FUND

FUND OF FUNDS

34


Large

Mid

Small

Style



PORTFOLIO


Mutual Fund Units

Pinebridge US Large Cap Research Enhance Fund Overseas Mutual Fund 116.26



Grand Total 100

Kotak US Equity Fund NAV as on , : 11.602 (Dividend Option), 11.736 (Direct Dividend Option), 11.602 (Growth Option), `11.736 (Direct Growth Option)

June 30 2015 ` ` `

This product is suitable for investors who are seeking*:• Long term capital growth• Long term capital appreciation by investing in Units of PineBridge US Large

Cap Research Enhanced Fund which in turn invests in equity and equity related securities of companies having assets, products or operations in the United States.


PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Overseas Mutual Fund

Others


116.26

-16.26

KOTAK GLOBAL EMERGING MARKET FUNDAn Open - Ended Equity Scheme




PORTFOLIOInvestment Objective

Inception Date

Fund Managers

Benchmark

AAUM (` In Crores)


Dividend Frequency


Load Structure

The investment objective of the scheme is to generate long-term capital appreciation by investing in an overseas mutual fund scheme that invest in a diversified portfolio of securities as prescribed by SEBI from time to time in global emerging markets.

September 26, 2007

Mr. Deepak Gupta (Dedicated fund manager for Fund Managers overseas investment) & Mr.Abhishek Bisen

MSCI Emerging Market

AAUM as on June 30, 2015: ̀ 39.79

A)







Exit Load: I) For exit within 1 year from the date of allotment of units: 1%.

ii) For exit after 1 year from the date of allotment of units: Nil

iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the Scheme. (applicable for all plans)


Regular Plan

FUND OF FUNDS

35

Kotak Global Emerging Market Fund NAV as on , : 14.955 (Dividend Option), 15.198 (Direct Dividend Option), 14.955 (Growth Option), ̀ 15.148 (Direct Growth Option)

June 30 2015 ` ` `

INVESTMENT STYLE


Large

Mid

Small

Style


Mutual Fund Units

MGF Asian Small Equity Fund Class I Overseas Mutual Fund 75.51

ishares MSCI Emerging Markets ETF Overseas Mutual Fund 18.21




Grand Total 100

This product is suitable for investors who are seeking*:• Long term capital growth• Investment in overseas mutual fund schemes that invest in a diversified

portfolio of securities in global emerging markets * Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

98.72

Overseas Mutual Fund


Others


93.72

6.13

0.15

FUND OF FUNDS

KOTAK WORLD GOLD FUND




INVESTMENT STYLE


Inception Date

Fund Manager

Benchmark

AAUM (` In Crores)


Dividend Frequency


Load Structure

The primary investment objective of the Scheme is to provide long term capital appreciation by investing predominantly in units of Falcon Gold Equity Fund. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of Mutual Funds, in order to meet liquidity requirements from time to time. However, there is no assurance that the investment objective of the Scheme will be realized.

June 6, 2008

Mr. Deepak Gupta

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

AAUM as on June 30, 2015: ̀ 48.47

A)




Additional Investment: `1000 & in multiples of `1 for purchase and for `0.01 for switches



Exit Load:

I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment – 1%;


iii) Any exit load charged (net off ServiceTax, if any) shall be credited back to the Scheme;


Regular Plan

6

Style

(formerly known as “PineBridge World Gold Fund”)An Open – Ended Fund of Funds Scheme

36


Large

Mid

Small


Mutual Fund Units

Falcon Gold Equity ASIA Overseas Mutual Fund 98.43




Grand Total 100.00

PORTFOLIO

Kotak World Gold Fund Option), `7.785 (Direct Growth Option)

NAV as on June 30, 2015: `6.335 (Dividend Option), `6.406 (Direct Dividend Option), `7.642 (Growth

This product is suitable for investors who are seeking*:• Long term capital growth• Long term capital appreciation by investing in units of Falcon Gold Equity

Fund which in turn invests in international securities of gold production, processing and marketing companies


PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Overseas Mutual FundCBLO & Term Deposits & Rev.Repo

Others


98.43

4.53-

2.96

37

KOTAK GOLD ETFAn Open Ended Gold Exchange Traded Fund


Issuer / Instrument Industry/ % to NetRating Assets

Gold

Gold Fineness99.5 Gold 99.93




Grand Total 100.00

PORTFOLIO

ETF SCHEMES

NAV

Kotak Gold ETF NAV as on June 30, 2015: ̀ 247.2419


Inception Date

Fund Manager

Benchmark

AAUM (Ìn Crores)



Load Structure

The investment objective of Kotak Gold ETF is to generate returns that are in line with the returns on investment in physical gold, subject to tracking error.

July 27, 2007

Mr. Abhishek Bisen

Physical Gold

AAUM as on , 2015: ̀ 532.73

A) Regular Plan

B) Direct Plan

Through Exchange:10 Units,

Through AMC: 10000 Units,

Ideal Investment Horizon: 3 years and above


Exit Load: Nil (applicable for all plans)

June 30

This product is suitable for investors who are seeking*:• Returns in line with physical gold over medium to long term, subject to

tracking error• Investment in physical gold* Investors should consult their financial advisors if in doubt about whether the product is suitable for them.

PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

99.93

0.07

Sector Allocation (%)

Gold Others

38

KOTAK NIFTY ETFAn Open Ended Exchange Traded Fund[Eligible scheme under Rajiv Gandhi Equity Savings Scheme (RGESS)](As on August 31, 2015)








Reliance Industries Ltd. Petroleum Products 5



Sun Pharmaceuticals




Kotak Mahindra Bank Ltd. Banks 2.37



Mahindra & Mahindra Ltd. Auto 2


Dr Reddys Laboratories Ltd Pharmaceuticals 1.94



Coal India Ltd. Minerals/Mining 1.67




Asian Paints Ltd. Consumer Non Durables 1.36




Bajaj Auto Ltd. Auto 1.08




Power Grid Corporation

Of India Ltd Power 1.02

National Thermal Power

Corporation Limited Power 0.89

Bharat Petroleum Corporation Ltd. Petroleum Products 0.81


Grasim Industries Ltd. Cement 0.78

Zee Entertainment Enterprises Ltd Media and Entertainment 0.75

Bosch Limited Auto Ancillaries 0.74




Ambuja Cements Ltd Cement 0.57


GAIL (India) Ltd. Gas 0.49

ACC Ltd. Cement 0.44

Tata Power Co. Ltd. Power 0.39

Punjab National Bank Banks 0.38

Vedanta Ltd. Minerals/Mining 0.38



NMDC Ltd. Minerals/Mining 0.28



Grand Total 100

PORTFOLIO

ETF SCHEMES

NAV

Kotak Nifty ETF NAV as on : ̀ 843.0524June 30, 2015


Inception Date

Fund Manager

Benchmark

AAUM (Ìn Crores)


Ratios


Load Structure

The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the CNX Nifty subject to tracking errors.

February 8, 2010

Mr. Deepak Gupta

CNX Nifty

AAUM as on June 30, 2015: 98.23

A) Plan

B) Direct Plan

Portfolio Turnover: 147.51%

Through Exchange:1 Unit,





`

Regular

This product is suitable for investors who are seeking*:• Long term capital growth• Investment in stocks comprising the underlying index and endeavours to

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

PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Banks Software Consumer Non DurablesAuto Pharmaceuticals FinancePetroleum Products Construction Project CementTelecom - Services Others

24.27

16.71

9.988.35

8.29

6.63

5.814.65

2.842.35

10.12

39

KOTAK SENSEX ETFAn Open Ended Exchange Traded Fund[Eligible scheme under Rajiv Gandhi Equity Savings Scheme (RGESS)](As on August 31, 2015)











Sun Pharmaceuticals








Dr Reddys Laboratories Ltd Pharmaceuticals 2.38



Coal India Ltd. Minerals/Mining 2


Oil & Natural Gas

Corporation Ltd. Oil 1.86



Bajaj Auto Ltd. Auto 1.30


National Thermal Power

Corporation Limited Power 1.08



GAIL (India) Ltd. Gas 0.60

Vedanta Ltd. Minerals/Mining 0.47




Grand Total 100

PORTFOLIO

ETF SCHEMES

NAV

Kotak Sensex ETF NAV as on : ̀ 280.6830June 30, 2015


Inception Date

Fund Manager

Benchmark

AAUM (Ìn Crores)


Ratios


Load Structure

The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the BSE SENSEX subject to tracking errors.

June 6, 2008

Mr. Deepak Gupta

S&P BSE SENSEX

AAUM as on June 30, 2015: 8.57

A) Plan

B) Direct Plan







`

Regular

PORTFOLIO



PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Banks Software AutoConsumer Non Durables Pharmaceuticals FinancePetroleum Products Construction Project

Minerals/MiningTelecom - Services Others


22.68

16.44

10.5510.12

10.06

8.1

6.115.68

2.47 2.14

5.65

99.94

0.06

40

KOTAK BANKING ETFAn Open Ended Exchange Traded Fund








Kotak Mahindra Bank Ltd. Banks 9.50







Canara Bank Banks 0.58

Bank of India Banks 0.43



Grand Total 100

PORTFOLIO

ETF SCHEMES

NAV

Kotak Banking ETF NAV as on , 2015: ̀ 184.0927June 30


Inception Date

Fund Manager

Benchmark

AAUM (Ìn Crores)


Ratios


Load Structure

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

December 11, 2014

Mr. Deepak Gupta

CNX Bank

AAUM as on June 30, 2015: 518.77

Option - Dividend Payout







`



PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Banks Others


41

KOTAK PSU BANK ETFAn Open Ended Exchange Traded Fund







Union Bank Of India Banks 3.53

Canara Bank Banks 3.24

Bank of India Banks 2.40

Industrial Development Bank of India Ltd. Banks 1.82


Allahabad Bank. Banks 1.47

Syndicate Bank Banks 1.38

Oriental Bank of Commerce Banks 1.32

Andhra Bank Banks 1.25

Indian Overseas Bank Banks 0.89



Grand Total 100

PORTFOLIO

ETF SCHEMES

NAV

Kotak PSU Bank ETF NAV as on : ̀ 329.5871June 30, 2015


Inception Date

Fund Manager

Benchmark

AAUM (Ìn Crores)


Ratios


Load Structure

The investment objective of the scheme is to provide returns that closely correspond to the total returns of CNX PSU Bank Index, subject to tracking errors.

November 8, 2007

Mr. Deepak Gupta

CNX PSU Bank

AAUM as on June 30, 2015: 27.20

A) Plan

B) Direct Plan







`

Regular




PRODUCT LABEL


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Banks Others

100.01

-0.01

Scheme Performances as on June 30, 2015

42

Kotak 50 - Dividend

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of ̀ 10,000/- investment made at inception. Source: ICRA MFI Explorer

# Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^

CNXNifty # (%)

S&P BSE Sensex ## Current Value of Standard Investment of ` 10000 in the

Scheme ( )` Benchmark #( )Àdditional

Benchmark # # (`)

Kotak Classic Equity - Growth



SchemeReturns (%) ^

CNX 500 #(%)

CNX Nifty ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)

Kotak Select Focus Fund - Growth



SchemeReturns (%) ^

CNX 200#(%)



Benchmark # # (`)

Since Inception till Jun 30, 2015 15.32 10.04 9.94 22,866 17,421 17,328

30/06/2014 To 30/06/2015 26.40 11.57 9.95

30/06/2013 To 30/06/2014 43.12 34.02 30.28 Not applicable

30/06/2012 To 30/06/2013 11.41 9.51 10.67

Kotak Opportunities Fund - Growth



SchemeReturns (%) ^

CNX 500#(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 26.33 11.71 9.95


30/06/2012 To 30/06/2013 10.10 8.16 10.67


30/06/2014 To 30/06/2015 13.74 11.71 9.95


30/06/2012 To 30/06/2013 10.12 8.16 10.67

Since Inception till Jun 30, 2015 21.02 14.67 14.32 2,33,349 95,898 91,196

30/06/2014 To 30/06/2015 21.56 9.95 9.31


30/06/2012 To 30/06/2013 12.18 10.67 11.28

41

Kotak Midcap Fund - Growth



SchemeReturns (%) ^

CNX Midcap#(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 31.81 17.24 9.95


30/06/2012 To 30/06/2013 4.25 -0.13 10.67

Kotak Emerging Equity Scheme - Growth



SchemeReturns (%) ^

S&P BSE Midcap #(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 39.95 22.32 9.95


30/06/2012 To 30/06/2013 4.60 10.56 10.67

Kotak Tax Saver - Growth



SchemeReturns (%) ^

CNX 500 #(%)

CNX Nifty## (%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 30.25 11.71 9.95


30/06/2012 To 30/06/2013 2.66 8.16 10.67

43

Kotak Infrastructure & Economic Reform Fund - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of ̀ 10,000/- investment made at inception. Source: ICRA MFI Explorer.

# Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ 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 prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^

S&P BSE 100 #(%)

CNX Nifty##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 22.26 9.32 9.95


30/06/2012 To 30/06/2013 -3.88 9.91 10.67

Kotak Equity Arbitrage Fund - Growth


# Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ 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 prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^

Crisil Liquid Fund#(%)

CNX Nifty##(%) Current Value of Standard Investment of ` 10000 in the


Benchmark # # (`)


30/06/2014 To 30/06/2015 8.49 8.77 9.95


30/06/2012 To 30/06/2013 8.93 8.14 10.67

44

Kotak Balance



SchemeReturns (%) ^

CRISILBalanced Fund

# (%)



Benchmark # # (`)

Since Inception till Jun 30, 2015 15.59 NA 12.10 95,882 NA 59,408

30/06/2014 To 30/06/2015 12.54 8.78 9.95


30/06/2012 To 30/06/2013 10.20 10.91 10.67

Kotak Liquid - Plan A - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term & long termis based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate). Note-With effect from October 1, 2012 the scheme features has been changed. For more details please refer page 23.

`

SchemeReturns (%) ^

Crisil Liquid Fund #(%)

CRISIL 1 Year T-Bill ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 8.84 8.77 8.54


30/06/2012 To 30/06/2013 8.96 8.14 8.19

Kotak Floater - ST - Growth

SchemeReturns (%) ^


CRISIL 1 Year T-Bill ##(%) Current Value of Standard Investment of ` 10000 in the


Benchmark # # (`)


30/06/2014 To 30/06/2015 8.89 8.77 8.54


30/06/2012 To 30/06/2013 9.04 8.14 8.19

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of ̀ 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term & long term is based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ^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: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

45

Kotak Treasury Advantage Fund - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of ̀ 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term & long term is based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ^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 prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^


CRISIL 1 Year TBill ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 9.07 8.77 8.54


30/06/2012 To 30/06/2013 9.41 8.14 8.19

Kotak Banking and PSU Debt Fund - Growth

SchemeReturns (%) ^


CRISIL 1 Year TBill ##(%) Current Value of Standard Investment of ` 10000 in the


Benchmark # # (`)

Since Inception till Jun 30, 2015 7.25 NA 6.60 31,753 NA 28,710

30/06/2014 To 30/06/2015 8.88 8.77 8.54


30/06/2012 To 30/06/2013 7.72 8.14 8.19

Note: Point to Point (PTP) Returns in INR show the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term & long term is based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

`

Kotak Low Duration Fund - Growth

SchemeReturns (%) ^

CRISIL Liquid Fund #(%)

CRISIL 1 Year T-Bill ##(%) Current Value of Standard Investment of ` 10000 in the


Benchmark # # (`)


30/06/2014 To 30/06/2015 9.83 8.77 8.54


30/06/2012 To 30/06/2013 9.15 8.14 8.19

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of `10,000/- investment made at inception. Source: ICRAMFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ 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 prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year:CAGR(Compounded Annualised Growth Rate).

Kotak Bond Short Term Plan - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of ̀ 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term& long termis based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ 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: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^

Crisil Short Term BondFund #(%)

CRISIL 1Year T-Bill ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 8.90 9.56 8.54


30/06/2012 To 30/06/2013 10.21 9.33 8.19

Kotak Income Opportunities Fund - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term & long term is based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ^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 prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

`

SchemeReturns (%) ^

Crisil Short Term Bond Fund #(%)

CRISIL 1 Year TBill ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 9.62 9.56 8.54


30/06/2012 To 30/06/2013 9.72 9.33 8.19

46

Kotak Flexi Debt Fund - Plan A - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term & long term is based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

`

SchemeReturns (%) ^

Crisil Composite Bond Fund #(%)

CRISIL 1 Year T-Bill ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 8.25 11.10 8.54


30/06/2012 To 30/06/2013 9.35 10.75 8.19

Kotak Corporate Bond Fund - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of `10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ 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: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^


CRISIL 1 Year Gilt ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 12.85 11.10 8.54


30/06/2012 To 30/06/2013 10.48 10.75 8.19

Kotak Medium Term Fund - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term & long term is based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

`

SchemeReturns (%) ^

CRISIL Composite Bond Fund #(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 10.20 11.10 11.76

28/06/2013 To 30/06/2014 N.A 4.60 -2.47 Not applicable

29/06/2012 To 30/06/2013 N.A 9.90 11.17

47

Kotak Gilt Investment PF & Trust Plan - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer.

For Additional Benchmark (Debt Schemes): classification of schemes in short term & long term is based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

`

SchemeReturns (%) ^

ISEC Composite #(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 11.24 11.70 11.76

30/06/2013 To 30/06/2014 -0.57 4.07 -2.51 Not applicable

30/06/2012 To 30/06/2013 13.04 12.01 12.12

Kotak Gilt - Investment Regular Plan - Growth

SchemeReturns (%) ^

ISEC Composite #(%)



Benchmark # # (`)

Since Inception till Jun 30, 2015 9.85 N.A N.A 47,189 N.A N.A

30/06/2014 To 30/06/2015 11.24 11.70 11.76

30/06/2013 To 30/06/2014 -0.67 4.07 -2.51 Not applicable

30/06/2012 To 30/06/2013 13.05 12.01 12.12

Kotak Monthly Income Plan - Growth

SchemeReturns (%) ^

Crisil MIP Blended #(%)

CRISIL 10 Year Gilt ##(%) Current Value of Standard Investment of ` 10000 in the


Benchmark # # (`)


30/06/2014 To 30/06/2015 11.27 11.05 11.76

30/06/2013 To 30/06/2014 11.71 8.24 -2.51 Not applicable

30/06/2012 To 30/06/2013 10.63 10.86 12.12

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term& long term is based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

`

Kotak Bond - Plan A - Growth

N.A stands for data not available. Note: Point to Point (PTP) Returns in INR show the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term & long term is based on the average maturity of the scheme. # Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

`

SchemeReturns (%) ^




Benchmark # # (`)

Since Inception till Jun 30, 2015 9.19 N.A N.A 39,425 N.A N.A

30/06/2014 To 30/06/2015 9.75 11.10 11.76


30/06/2012 To 30/06/2013 12.00 10.75 12.12

48

Kotak US Equity Fund - Growth


#Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ 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 prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^

Standard & Poor’s 500 Total Return Net

#(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 11.31 13.81 9.95

30/06/2013 To 30/06/2014 N.A 25.47 30.28 Not applicable

30/06/2012 To 30/06/2013 N.A 29.52 10.67

Kotak Gold ETF

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

SchemeReturns (%) ^

Physical Gold Price#(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 -5.60 -4.55 11.76


30/06/2012 To 30/06/2013 -15.93 -15.04 12.12

Kotak World Gold Fund - Growth


# Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ 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: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^

Financial TimesGold Mines Total-Price

#(%)



Benchmark # # (`)

Since Inception till Jun 30, 2015 -3.73 -7.13 8.74 7,642 5,927 18,083

30/06/2014 To 30/06/2015 -32.05 -25.98 9.95


30/06/2012 To 30/06/2013 -36.24 -43.05 10.67

Kotak Multi Asset Allocation Fund - Growth


#Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ 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 prevailingNAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^

75% Crisil Short termBond Fund ,15%CNX Nifty & 10%

Prices of Gold #(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 7.46 8.32 11.76


30/06/2012 To 30/06/2013 8.95 7.04 12.12

49

Kotak SENSEX ETF

SchemeReturns (%) ^

S&P BSESensex #(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 8.21 9.31 9.95


30/06/2012 To 30/06/2013 8.84 11.28 10.67


# Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

Kotak PSU Bank ETF

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

SchemeReturns (%) ^

CNX PSU Bank #(%)



Benchmark # # (`)


30/06/2014 To 30/06/2015 -19.44 -16.71 9.95


30/06/2012 To 30/06/2013 -18.85 -15.83 10.67

Kotak Global Emerging Equity Market Fund


SchemeReturns (%) ^

MSC Emerging Market Index #(%)

CNX NiftyIndex ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 3.60 -1.98 9.95


30/06/2012 To 30/06/2013 18.15 7.74 10.67

Kotak Nifty ETF


# Name of Scheme Benchmark. ## Name of Additional Benchmark. ̂ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns <= 1 year: Absolute; Returns > 1 year: CAGR (Compounded Annualised Growth Rate).

SchemeReturns (%) ^

CNX Nifty#(%)

S&P BSE Sensex ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)


30/06/2014 To 30/06/2015 9.95 9.95 9.31


30/06/2012 To 30/06/2013 9.81 10.67 11.28

FMP's and Gold Fund Performance as on June 30, 2015

50

Kotak FMP - Series 131 (1061 Days) - Reg - Growth

SchemeReturns (%) ^

Crisil Short TermBond Fund #(%)

CRISIL 1 YearT-Bill ##(%) Current Value of Standard Investment of ` 10000 in the


Benchmark ## (`)

Dec 23, 2013 (Since Inception) 11.78 9.84 8.48 11,841 11,530 11,316

30/06/2014 To 30/06/2015 10.71 9.56 8.54


30/06/2012 To 30/06/2013 N.A 9.33 8.19


SchemeReturns (%) ^




Benchmark ## (`)

Nov 28, 2013 (Since Inception) 10.41 9.82 8.46 11,701 11,602 11,375

30/06/2014 To 30/06/2015 9.96 9.56 8.54


30/06/2012 To 30/06/2013 N.A 9.33 8.19


SchemeReturns (%) ^




Benchmark ## (`)

Mar 28, 2014 (Since Inception) 10.32 9.70 8.51 11,315 11,235 11,081

30/06/2014 To 30/06/2015 9.82 9.56 8.54


30/06/2012 To 30/06/2013 N.A 9.33 8.19

Kotak Asset Allocator Fund - Growth


SchemeReturns (%) ^

CRISIL Balanced Fund #(%)

S&P BSE SENSEX ##(%) Current Value of Standard Investment of 10000 in the`


Benchmark # # (`)

Since Inception till Jun 30, 2015

30/06/2014 To 30/06/2015 12.64 8.78 9.31


30/06/2012 To 30/06/2013 9.12 10.91 11.28

17.75 12.78 16.56 59,323 37,086 53,086


SchemeReturns (%) ^




Benchmark ## (`)


30/06/2014 To 30/06/2015 8.19 9.56 8.54


30/06/2012 To 30/06/2013 N.A 9.33 8.19

OTHER PERFORMANCE


SchemeReturns (%) ^




Benchmark ## (`)


30/06/2014 To 30/06/2015 8.13 9.56 8.54


30/06/2012 To 30/06/2013 N.A 9.33 8.19


SchemeReturns (%) ^




Benchmark ## (`)

Kotak Gold Fund


30/06/2014 To 30/06/2015 8.06 9.56 8.54


30/06/2012 To 30/06/2013 N.A 9.33 8.19

SchemeReturns (%) ^

Physical GoldPrice #(%)

CRISIL 10 YearGilt ##(%) Current Value of Standard Investment of ` 10000 in the


Benchmark ## (`)


Jun 30, 2014 To Jun 30, 2015 -8.79 -4.55 11.76

Jun 30, 2013 To Jun 30, 2015 9.37 10.96 -2.51

Jun 30, 2012 To Jun 30, 2015 -16.43 -15.04 12.12

N.A stands for data not available. Past Performance may or may not be sustained in future. Note: Point to Point (PTP) Returns in INR show the value of ̀ 10,000/- investment made at inception. Source: ICRA MFI Explorer. For Additional Benchmark (Debt Schemes): classification of schemes in short term & long term is based on the average maturity of the scheme. # Name of Scheme Benchmark ## Name of Additional Benchmark ̂ Past performance may or may not be sustained in the future All payouts during the period have been reinvested in the units the scheme at the then prevailingNAV. Returns <= 1 year:Absolute; Returns > 1 year:CAGR(CompoundedAnnualised Growth Rate).

51

ABOUT OUR FUND MANAGERS

52

Name: Mr. Harsha UpadhyayaScheme (experience in managing these funds since)

Business ExperienceKotak Opportunities (Aug 1, ‘12), Kotak Select Focus Fund (Aug 1, ‘12), Kotak Tax Saver (Aug. 25,'15)

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.

Name: Mr. Harish KrishnanScheme (experience in managing these funds since)

Business ExperienceKotak 50 (Nov. 15, ’13), Kotak Infrastructure & Economic Reform Fund (Jan31,'15), Kotak Classic Equity (Aug. 25,'15)

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.

Name: Mr. Pankaj TibrewalScheme (experience in managing these funds since)

Business ExperienceKotak Midcap (Jan. 21,‘10) , Kotak Emerging Equity (May 27,'10), Kotak Balance (Aug. 25,'15)

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.

Business ExperienceMr. Deepak has almost 10 years of experience in the mutual fund industry. He had joined the Equity Fund Management team as a research analyst. He is now an Equity Fund Manager. Mr. Deepak is a Graduate in Commerce from Mumbai University. He is a qualified Chartered Accountant, a Cost Accountant and has cleared the AIMR CFA Level 3.

Name: Mr. Deepak GuptaScheme (experience in managing these funds since)Kotak Equity Arbitrage (Sept.1,‘08), Kotak Asset Allocator Fund (Earlier Know as Kotak Equity FOF) (Sept.1,‘08), Kotak Global Emerging Market Fund (Apr.4,‘11), (Dedicated fund manager for over seas investment), Kotak Balance (Aug. 25,'15), Kotak Multi Asset Allocation Fund (Sept.10,’13), Kotak Equity Savings Fund (Oct. 13, '14), Kotak World Gold Fund (Jan.31,’15), Kotak US Equity Fund (Jan.31,’15), Kotak PSU Bank ETF (Nov. 8, ’07), Kotak SENSEX ETF (Jun. 6, ’08), Kotak NIFTY ETF (Feb. 8, ’10), Kotak Banking ETF (Dec. 11, ’14)

Performance of top 3 and bottom 3 schemes of the Fund Manager

Fund Manager

Top 3

Bottom 3

Mr. Deepak Gupta Refer Page No.

Kotak Tax Saver Scheme 9

Kotak Asset Allocator Fund 33

Kotak US Equity Fund 34

Kotak Global Emerging Market Fund 35

Kotak PSU Bank ETF 41

Kotak World Gold Fund 36

Name: Mr. Deepak Agrawal

Scheme (experience in managing these funds since)

Business Experience

(Kotak Bond Short Term (Apr. 14, ’08), Kotak Flexi Debt (Jul. 11, ‘07), Kotak Floater Short Term (Jul. 11, ‘07), Kotak Liquid (Jul. 11, ‘07), Kotak Kotak Banking and PSU Debt Fund (Apr. 14, ’08), Kotak Treasury Advantage Fund (Formerly Known as Kotak Floater Long Term Scheme) (Jul. 11, ’07), Kotak Income Opportunities Fund (May 11, '10), Kotak Medium Term Fund (Mar. 21, ’14),

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.

Kotak Low Duration Fund (Jan. 31, ’15), Kotak Corporate Bond Fund (Jan. 31, ’15), All Fix Maturity Plans in existence (Aug. 13,'15), All Quarterly Interval Plans (QIPs) (Aug. 13,'15)

53

Name: Mr. Abhishek Bisen


Business Experience

Kotak Balance (Apr. 15, 2008), Kotak Monthly Income Plan (Apr. 15, ‘08), Kotak Bond (Plan A) (Apr 15, 2008), (Regular & PF-Trust) (Apr. 15, ’08), Kotak Global Emerging Market Fund (Apr. 15, ‘08), Kotak Multi Asset Allocation Fund (Jan. 21, ’11), Kotak Equity Savings Fund (Oct. 13, '14), Kotak Gold ETF (Jul. 27, ’07), Kotak Gold Fund (Mar. 25, '11)

Kotak Gilt Investment

Mr. Abhishek has been associated with the company since October 2006 and his key responsibilities include fund management of debt schemes. Prior to joining Kotak AMC, Me, Abhishek was working with Securities Trading Corporation Of India Ltd where he was looking at Sales & Trading of Fixed Income Products apart from doing Portfolio Advisory. He has been awarded twice as one of the Highly Commended Investors in Indian Rupees Bonds from the Asset magazine Hong Kong. His educational background is B.A (Management) and MBA (Finance).


Fund Manager

Top 3

Bottom 3

Mr. Abhishek Bisen Refer Page No.

Kotak Balance 13

Kotak Monthly Income Plan 30

Kotak Gilt - Investment 29

Kotak Global Emerging Market Fund 34

Kotak Gold ETF 37

Kotak Gold Fund 51

Name: Mr. Devender Singhal


Business Experience

Kotak Monthly Income Plan (Aug. 25,’15)

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.


Fund Manager

Top 3

Bottom 3

Mr. Deepak Agrawal Refer Page No.

Kotak FMP - Series 131 (1061 Days) 50






Kotak Asset Allocator Fund (Earlier Know asKotak Equity FOF)

Record Date Cum Dividend NAV `/UnitAug-30-10 37.774 Individual/ HUF: 0.878

Others: 0.819

DIVIDEND HISTORY

54

Kotak Opportunities

Record Date Cum Dividend NAVCum Dividend NAV `/UnitAug-28-15 24.388 1.60Aug-25-14 21.411 1.00Sept-28-05 16.816 1.00Nov-11-11 13.682 0.50May-28-10 14.625 1.00Sept-8-09 14.733 1.50Mar-14-08 16.975 2.00Jan-25-08 27.090 6.00Sept-28-07 24.293 3.00Sept-27-06 17.745 1.50Mar-21-06 21.783 4.50Feb-25-05 12.852 0.75

Record Date Cum Dividend NAV `/UnitJun-29-15 44.732 11.00

Dec-12-14 42.959 1.00

Feb-07-14 30.575 1.00

Feb-04-13 32.190 1.00

Feb-29-12 28.687 1.00

Jan-27-11 31.317 2.00

Jan-22-10 31.036 3.00

Mar-30-09 20.021 1.00

Feb-28-08 39.091 3.00

Jan-11-08 51.399 6.00

July-20-07 38.870 3.00

Dec-27-06 38.556 5.50

Dec-27-05 27.711 1.00

Jun-03-05 20.345 1.00

Nov-05-04 18.060 1.50

Jan-31-04 21.093 5.00

Oct-20-03 18.983 2.00

Dec-28-01 11.036 1.00

Oct-09-00 17.556 2.00

Kotak Classic Equity

Record Date Cum Dividend NAVCum Dividend NAV `/UnitJul-25-14 18.227 1.00Jan-23-14 19.202 4.30Jul-31-12 15.413 1.00

Kotak 50 - Dividend

Equity Schemes

Record Date Cum Dividend NAV `/UnitAug-28-15 10.8108 0.0702

Jul-27-15 10.7995 0.0589

Jun-22-15 10.8062 0.0655

May-25-15 10.8085 0.0679Mar-23-15 10.7982 0.0577Feb-23-15 10.8192 0.0754Jan-27-15 10.8072 0.0783

Dec-22-14 10.7859 0.0592

Nov-24-14 10.7763 0.0576

Oct-27-14 10.8089 0.0863Sep-22-14 10.7681 0.0477Aug-25-14 10.7805 0.0616Jul-28-14 10.7879 0.0769

Jun-23-14 10.7678 0.0738

May-26-14 10.7809 0.0921

Apr-21-14 10.7453 0.0712Mar-24-14 10.7300 0.0671Feb-24-14 10.7458 0.0704Jan-27-14 10.7749 0.1022Dec-23-13 10.7455 0.0851

Nov-25-13 10.7341 0.0737Oct-28-13 10.7801 0.1073Sep-23-13 10.7342 0.0736Aug-26-13 10.7433 0.0818Jul-22-13 10.7226 0.0599Jun-24-13 10.7642 0.0737May-27-13 10.7651 0.0820Apr-22-13 10.7746 0.0738Mar-25-13 10.7573 0.0656Feb-25-13 10.7581 0.0697Jan-28-13 10.7688 0.0817

Kotak Equity Arbitrage Fund

Kotak Midcap

Record Date Cum Dividend NAVCum Dividend NAV `/UnitFeb-27-15 30.866 1.00Feb-28-14 17.731 1.00Feb-28-11 15.638 1.50Feb-19-10 16.064 1.50Apr-28-06 19.438 4.00Aug-24-05 13.027 0.50

Kotak Tax Saver

Record Date Cum Dividend NAVCum Dividend NAV `/UnitDec-30-14 17.542 0.10Nov-28-14 18.180 0.50Feb-08-08 15.189 3.50Feb-20-07 11.640 3.00

Kotak Infrastructure and Economic Reform

Record Date Cum Dividend NAVCum Dividend NAV `/UnitJun-23-15 15.2601 0.50

Kotak Emerging Equity

Record Date Cum Dividend NAVCum Dividend NAV `/UnitApr-28-15 21.499 2.10May-02-14 13.073 0.50May-02-13 11.491 0.50Apr-29-11 10.573 0.75

Kotak Select Focus

Record Date Cum Dividend NAVCum Dividend NAV `/UnitSept-26-14 17.791 1.00Oct-15-10 12.850 1.25

Kotak Equity Saving Fund - Monthly Dividend Option

Record Date Cum Dividend NAVCum Dividend NAV `/UnitAug-12-15 10.535 0.050Jul-13-15 10.530 0.050Jun-12-15 10.347 0.039May-12-15 10.408 0.043Apr-13-15 10.613 0.050Mar-12-15 10.540 0.040Feb-27-15 10.482 0.019

Kotak SENSEX ETF

Kotak Nifty ETF

Record Date

Record Date

Cum Dividend NAV

Cum Dividend NAV

Cum Dividend NAV

Cum Dividend NAV

`/Unit

`/Unit

Nov-21-14 290.4602 6.00June-18-13 201.3164 7.00

Nov-21-14 428.2343 19.00Feb-21-13 358.8668 0.20

Nov-21-14 858.2720 9.50Jan-21-14 643.6753 11.00May-06-13 613.1266 11.00

Kotak PSU Bank ETF

Record Date Cum Dividend NAVCum Dividend NAV `/Unit

ETF SCHEMES

Kotak Monthly Income Plan - Monthly Dividend

Kotak Monthly Income Plan - Quarterly Dividend

Record Date

Record Date

Cum Dividend NAV

Cum Dividend NAV

`/Unit

`/Unit

Aug-12-15 12.2836 Individual/ HUF: 0.0505Others: 0.0468

Jul-13-15 12.2413 Individual/ HUF: 0.0512Others: 0.0475

Jun-12-15 12.0277 Individual/ HUF: 0.5180Others: 0.0480

May-12-15 12.1569 Individual/ HUF: 0.0499Others: 0.0462

Jun-22-15 13.0535 Individual/ HUF: 0.1123Others: 0.1041

Mar-20-15 13.2926 Individual/ HUF: 0.1644Others: 0.1524

Dec-22-14 13.1472 Individual/ HUF: 0.1681Others: 0.1558

Sep-22-14 12.8167 Individual/ HUF: 0.1823Others: 0.1746

Hybrid Schemes

Record Date Cum Dividend NAV `/UnitMar-25-15 18.641 3.00Sep-25-14 17.145 0.50Mar-25-14 19.732 4.85Sep-30-13 18.252 0.50Mar-25-13 22.823 4.70Sep-27-12 22.962 0.50Mar-26-12 21.733 0.50Sept-27-11 20.634 0.50Mar-28-11 22.476 0.50Sept-29-10 24.617 0.75Mar-25-10 23.753 2.00Sept-25-09 23.555 1.00Mar-25-08 25.629 4.00Sept-25-07 28.078 2.00Sept-27-06 22.870 1.00Mar-27-06 26.645 3.50Dec-12-05 22.232 1.00May-16-05 18.129 0.75

Kotak Balance

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56

NOTES

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Network of Transaction Acceptance Points: Submit transaction requests at your convenience across our 27 Investor Service Centres and 171 Transaction Points of CAMS. (To locate these, visit the “Contact Us” section on our website, http://assetmanagement.kotak.com)

Electronic Credit of Dividends and Redemption Proceeds: Now get your dividend payouts and redemption proceeds paid directly into your bank account with any bank, provided the same is connected under Core Banking System of RBI. Ensure your complete core banking account details are updated at our end.

Systematic Investments, Withdrawals and Transfers: Our Systematic Investment Facility provides you with the option of investing a fixed amount over a period of time, in a disciplined manner. Through this process, you benefit from Rupee Cost Averaging (buying more Units at lower NAV), and avoid the uncertainties involved with trying to time the market. Through our Systematic Withdrawal Facility, withdraw fixed amounts, or the entire appreciation on your investment, in any scheme periodically and benefit by averaging out on market fluctuations. To systematically transfer investments from one Kotak scheme to another, try our Systematic Transfer Facility. This tool also helps you manage your investment portfolio among Kotak Mutual Schemes, in line with your asset allocation plan.

Dividend Transfer Plan: Avail of the facility to transfer your dividend proceeds from one scheme to another. This facility is available for physical units held by an investor under the Dividend Options (other than Daily Reinvestment Sub-option) of all open ended Schemes of Kotak Mahindra Mutual Fund.

Internet Transaction: Invest Online. Hassle-free transaction processing at your fingertips. You can now purchase, switch, redeem and invest in NFO, electronically through our Internet Transaction Facility. You can also view/ download your account statement at any time. This facility has been extended to new investors of Kotak Mutual Fund as well. You need not be an existing investor of Kotak Mutual Fund to transact online. New investor just need to log onto to our Internet Transaction Portal & start investing. For more details please log on to: assetmanagement.kotak.com

Mobile Transaction: Have the convenience of transacting, on the go! Use the Kotak Mutual Fund Mobile App for transacting. You can simply download this app from your App Store (Google Play, Windows 8 or Ios) and use the Internet transaction PIN to start transacting.

E-mail Communication: Opt in for value-added information through e-mail, Daily NAV and Dividend Updates, Monthly Updates and more. You can also receive your account statement and your transaction confirmation details by updation of your email address at our end. To update your email address, you just need to give a call on 1800 222 626 (toll-free) from your registered contact number, and your email address will be recorded after due verification.

Website Utilities: Plan and track your investments better. Use our “Risk Profiler” to assess your risk appetite, “Life goal planner” to know the future value of your financial goals and the funds that you need to invest per month to fulfill these goals, and our “SIP-O-Meter” to know how much returns SIP can generate for you. Just log on to our website (assetmanagement.kotak.com) and access all these facilities.

SERVICES & FACILITIES

For details contact us at:KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED6th Floor, Kotak Infiniti, Building No. 21, Infinity Park, Off Western Express Highway, Gen. A. K. Vaidya Marg, Malad (East),

Mumbai – 400 097. Tel.: 91-22-6638 4400 Fax: 91-22-6638 4455 E-mail: [email protected] Corporate Office of Asset Management Company: 3rd floor, Sheil Estate Building, Dani Corporate Park, 159-A, C S T Road, Kalina, Santacruz (E),

Mumbai – 400 098.

Website: assetmanagement.kotak.com

Agra: 0562-4009647Ahmedabad: 079-26779888/ 26766077Ajmer: 0145-2628881Aligarh: 0571-6453223Allahabad: 0532-6456177Ambala: 0171-6451570/71Amritsar: 0183-6575777/ 6576777Anand: 02692-650281Aurangabad: 0240-6611189Bangalore: 080-66128050/ 51Bareilly: 0581-6452934Bhavnagar: 0278-2569511Bhilai: 0788-2225385Bhopal: 0755-6461018Bhubaneshwar: 0674-6510250/9583340099Bhuj: 02832-653976Calicut: 495-6576552Chandigarh: 0172-4671885/ 5049476Chennai: 044-28221333/ 45038171Cochin: 0484-6533110/ 4064646Coimbatore: 422-6572165Cuttack: 0671-6510166/ 9776000093Dehradun: 135-2742900/ 6453000Dhanbad: 0326-6450798/09709157970Durgapur: 0343-6456038/ 2544609Goa: 0832-6650490

Gorakpur: 0551-2204127Gurgaon: 0124-6464077Guwahati: 0361-2734784Hubli: 0836-6450140Hyderabad: 040-66178140/ 41/ 42Indore: 0731-6453390Jaipur:141-6503339/ 2373879Jalandhar: 0181-2233481Jalgaon: 0257-2237131/ 32Jammu: 0191-2470779Jamnagar: 0288-6540129Jamshedpur: 0657-2317041/6543474/9570000685Jodhpur: 0291-2630625Kanpur: 0512-6454641/ 2541017Kolhapur: 0231-6610390/ 91Kolkata: 033-22822411/ 12/ 13/ 14Kottayam: 0481-6452922Lucknow: 522-4021168/ 4021169Ludhiana: 0161-4646602/ 4646604Mangalore: 0824-6452006Meerut: 0121-4007753Mumbai: 022-66384400Mumbai: (Thane): 022-65970185/ 186Muradabad: 0591-6456667Mysore: 0821-6541192Nagpur: 0712-2425052/8577

Nashik: 253-6574255New Delhi: 011-66306900/ 02Panipat: 0180-2632062Patiala: 0175-6451766Patna: 0612-6451120Pondicherry: 9962029229Pune: 020-25666778/ 25666779Raipur: 0771-4270917Rajkot: 0281-6620735Ranchi: 0651-6454629/ 2332274/9709001533Rourkela: 0661-6450114/ 9776640098Salem: 0427-6450115Shimla: 0177-6451211/ 2807911Silliguri: 0353-2522012Surat: 0261-6450004/ 6536677Trichur: 0487-2430115Trichy: 0431-6460668Trivandrum: 0471-4470134Udaipur: 0294-6451094Vadodara: 0265-6533957/ 6560167Vapi: 260-6534863/ 260-6453920Varanasi: 0542-6456985Vijayawada: 0866-6459930Vishakapatnam: 0891-6452145

Contact Details

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

RISK FACTORS

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• Long term capital growth• Investment in portfolio of predominantly equity & equity related securities generally focussed on a

few selected sectors.

Riskometer

Investors understand that their principalwill be at moderately high risk

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

This product is suitable for investors who are seeking*:


To know more about mutual funds, Visit: assetmanagement.kotak.com

Toll Free Number : 1800 222 626 | For daily NAVs: Call 022-66384400

Documents

Cover & Outlook September