February 28, 2018 - Fundsupermart disinvestment target and repair of leveraged balance sheet to create supply in markets. ... CBLO 5.84% 5.85% -1 bps 1 yr T Bill 6.62% 6.55% 7 bps

February 28, 2018

1

February 28, 2018

Dear Friends,

If 2017 was the year of hope, 2018 will be the year of reality. The market valuations have now been

trading in the high valuation zone for around a year now. In 2017, market prices ran away as the gdp slowed

down to absorb the structural changes happening in that year. But that is behind us. The latest gdp figure

shows a growth rate of 7.2% yoy. At that some market forecasters seem to be more upbeat about the

future growth outlook.

CY 2018 is likely to see good fundamentals despite some strong head winds. India Inc. Is doing a marvellous jobs despite

burden of high real interest rates and overvalued currency. They are also doing well to absorb lesser availability of credit

especially at lower end of the rating curve. Combination of high real rates, low credit availability and overvalued currency has

subdued demand and kept capacity utilisation of India INC at lower levels.

India Inc was cautiously optimistic for bulk of last three years as apart from rates, currency and credit they had to tackle disruptive

reforms like Demonetisation and GST. Now they are becoming optimistic shedding cautious stance. They are becoming

optimistic as demand seems to be picking up and election bound Government is likely to keep spending tap open to benefit

further strengthening of Demand. This will help in improvement in capacity utilisation leading to better margin.

If rates, currency and credit normalises than the recovery will be more broader and more faster. The investments in CY

2018 are likely to be led by the government and PSUs but can see support from private Sector in CY 2019 post formation of new

government. Sectors like Agriculture, Rural and Infrastructure is likely to see higher growth due to focus of the election bound

government.

For investors CY 2018 is a year where they need to focus on asset allocation rather than market momentum. It will be a

year of volatility rather than steady rise. It will be year of Stock picking rather than Sector picking. It will be a year of large caps

rather than micro and mini caps. It will be a year of playing contra rather than chasing momentum.

In such scenario, for us finance professionals, managing expectations is more challenging then managing assets. Over the last one

year, a large segment of retail investors have entered the equities market at relatively high valuations. It is now our collective

responsibility that we manage this trust and protect the investor through the likely roller coaster ride that they may witness.

Regards,

Nilesh ShahManaging Director

EXPERT SPEAK

1

12000

15000

18000

21000

24000

27000

30000

33000

36000

39000

Feb

-15

Mar

-15

Ap

r-1

5

May

-15

Jun

-15

Jul-

15

Au

g-1

5

Sep

-15

Oct

-15

No

v-1

5

Dec

-15

Jan

-16

Feb

-16

Mar

-16

Ap

r-1

6

May

-16

Jun

-16

Jul-

16

Au

g-1

6

Sep

-16

Oct

-16

No

v-1

6

Dec

-16

Jan

-17

Feb

-17

Mar

-17

Ap

r-1

7

May

-17

Jun

-17

Jul-

17

Au

g-1

7

Sep

-17

Oct

-17

No

v-1

7

Dec

-17

Jan

-18

Feb

-18

Attractive

10x ‐

13x

Fair 13x ‐ 17x

Fair Value Plus 17x ‐

20x

Stretched 20x

‐

24x

India�s 3Q GDP rebounded to 7.2% as negative supply shocks on account of the demonetization and GST seem to be fading away. Investment growth surged to double digits from 8.9% last quarter to 13% in 3Q in line with what we have been seeing with some high frequency indicators.

RBI kept its policy rates unchanged in line with street expectations however inflation forecasts were pushed up and growth forecasts pared down � indicating likely difficult policy challenges going forward.

Jan trade deficit widened to $16.3bn which is well above the recent average of $13.4bn � this was driven by a strong acceleration in imports to $40.7bn (+26%) as well as a slowdown in exports to $24.4bn (+9%) which was particularly pronounced in textiles and gems & jewellery.

India�s cabinet approved a plan to allow private companies to bid for coal mines for commercial production, a move that would help the country cut imports and boost local production.

India replaced Germany to reclaim the third spot on the Hurun Global Rich List 2018 with 131 billionaires. India added 31 new billionaires over the last year while the combined wealth of the Indian billionaires increased by 49% to $454 billion.

Indian equities (-4.9%) gave up all the gains from the early part of the year in the month of Feb with the heightened global volatility weighing on sentiment and FIIs turning large net sellers. The introduction of LTCG in the budget and the unraveling of the massive ~$2bn scam involving PNB and heightened global volatility were also viewed as a dampener by market participants.

The interest rates on provident funds declared by EPFO for FY 2018 was pegged at 8.55%.

Inflation: - CPI inflation for January eased to 5.07 %, compared to a 17-month high of 5.21 % in December.

- The WPI for the month of Jan was recorded at 2.84%; easing further on lower food prices as compared to 3.58% in the previous month

India's manufacturing sector growth eased slightly in February to 52.1 from 52.4 in January indicating a factory output and new business orders rose at a slower pace.

The Indian service sector remained in expansion mode in Jan, registering the fastest rise in activity in three months. The seasonally adjusted Nikkei Services Business Activity Index improved to 51.7 in Jan, up from 50.9 in Dec.

2

Key Events for the Month of February 2018:

12-month forward Sensex P/B (x)

Stretched

Bubble

CheapOver Invest

80% - 90%

AttractiveNeutral +

65% - 75%

FairNeutral

50%

Fair Value PlusNeutral -

35% - 45%

Under Invest

15%- 25%

Exit

5% - 10%

Market Equity Allocaion

Markets Fairly Valued Few Indicators Like PE Indicate Over-valuation, While Other Composite Indicators Like P/B Or Market Cap To GDP Suggest Valuations Still Having Some Room To Expand

Market Valuation Indicators

12-month forward Sensex P/E (x)

India’s Market Cap to GDP (%)

Suggested equity allocation

(Assuming 50% equity

allocation as neutral)

Source:Internal Calculation

Strategy for Investments in the Current Scenario for Equity Investor

1.0

2.0

3.0

4.0

5.0

6.0

7.0

Feb

-91

Feb

-92

Feb

-93

Feb

-94

Feb

-95

Feb

-96

Feb

-97

Feb

-98

Feb

-99

Feb

-00

Feb

-01

Feb

-02

Feb

-03

Feb

-04

Feb

-05

Feb

-06

Feb

-07

Feb

-08

Feb

-09

Feb

-10

Feb

-11

Feb

-12

Feb

-13

Feb

-14

Feb

-15

Feb

-16

Feb

-17

Feb

-18

Sensex P/B (x) - LHS 83

103

55

9588

71

64

66

8169

8087

FY0

7

FY0

8

FY0

9

FY1

0

FY1

1

FY1

2

FY1

3

FY1

4

FY1

5

FY1

6

FY1

7

FY1

8E

Average of 78% for the period

3

GST to impact near-term activity especially informal segment

Improving operating leverage, falling interest costs and improvement in working capital can accelerate earnings, but a bit back-ended. Key is improvement in capacity utilisation

India stands out among global asset classes with prospects of strong long term growth.

Focus on improving financial savings of households

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

Election heavy year can dampen near term outlook for meaningful reform

Economy

Corporate Earnings

FII Flow

DII Flow

Supply of paper

Policy/Reform Initiative

Key Variables Short - term Medium - term Remarks

Signifies growth

Key Variables & Their Impact On Equities

Equity Market Snapshot:

Strong Performance by Majority Sectors over the Last 1 Year; Pharma lagging in returns

*Past performance may or may not be sustained in the future.

Credit growth has picked up by 8-10% as compared to last year

Source: Bloomberg, Data as on 28th Feb2018

BSE Sectoral Indicates

(5.4)(1.6)

(6.3)

(8.6)

(0.4)

(1.9)

(1.3)

(4.3)

(5.3)

(4.2)

(8.6)

(3.1)

65.1

27.6

24.4

20.6

20.5

19.4

16.9 15.6

14.6

1.2

(1.5)(8.3)

(20)

(10)

0

10

20

30

40

50

60

70

Realty Metals CapitalGoods

Bankex IT Services FMCG Tech Auto Oil & Gas Power PSU Healthcare

(%)

1m return % 1 yr return %

64

66

68

70

72

74

76

78

80

6400000

6600000

6800000

7000000

7200000

7400000

7600000

7800000

8000000

8200000

8400000

Mar

-16

Ap

r-1

6

May

-16

Jun

-16

Jul-

16

Au

g-1

6

Sep

-16

Oct

-16

No

v-1

6

Dec

-16

Jan

-17

Feb

-17

Mar

-17

Ap

r-1

7

May

-17

Jun

-17

Jul-

17

Au

g-1

7

Sep

-17

Oct

-17

No

v-1

7

Dec

-17

Jan

-18

Feb

-18

Credit Growth (Weekly Data)

Current Credit/ Deposit Ratio is ~74.39% (RHS)

Commercial Credit by Banks = Rs 82.53 lakh Crore (LHS)

Source: Bloomberg, Data as on 28th Feb2018

4

4

Items Feb-18 Jan-18 Change

Reverse Repo 5.75% 5.75% Nil

Repo 6.00% 6.00% Nil

CRR 4.00% 4.00% Nil

SLR 19.50% 19.50% Nil

Mibor Overnight 6.05% 6.00% 5 bps

Call(O/N) 5.93% 5.92% 1 bps

CBLO 5.84% 5.85% -1 bps

1 yr T Bill 6.62% 6.55% 7 bps

10 G Sec 7.73% 7.43% 30 bps

5 Year AAA 8.02% 7.74% 28 bps

USD/INR ` 65.17 ` 63.68 -`1.49

Source: RBI; Bloomberg.

Key Variables & their Impact On Interest Rates in 2018

Denotes fall in interest rates

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

Inflation

Rupee

Credit Demand

Government Borrowing

RBI Policy

Global Event Risk

Corporate bond Spread

Debt FII flow

Liquidity

Short - term (3-6 month)

Positive Real Interest Rates to Stimulate Financial Savings

Debt Market Snapshot:

Earlier, negative real rates fueled inflation in physical assets as people chased assets such as real estate and gold till 2014.

With real rates in the position territory now, money may move from physical to financial assets.

Note: Monthly 10 year Gilt Yield taken as average of their respective month. Feb 2018 CPI is assumed to be same as Jan-18 and Real Interest rate is calculated. Source: Bloomberg

2.53

-3

-2

-1

0

1

2

3

4

5

6

Feb-1

2

May-1

2

Au

g-12

No

v-12

Feb-1

3

May-1

3

Au

g-13

No

v-13

Feb-1

4

May-1

4

Au

g-14

No

v-14

Feb-1

5

May-1

5

Au

g-15

No

v-15

Feb-1

6

May-1

6

Au

g-16

No

v-16

Feb-1

7

May-1

7

Au

g-17

No

v-17

Feb-1

8

Source: Bloomberg

Real Interest Rate (%)

Issuer/Instrument Industry/Rating % to Net Assets

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)HDFC Bank Ltd. Banks 8.59Reliance Industries Ltd. Petroleum Products 6.27ICICI Bank Ltd. Banks 6.17IndusInd Bank Ltd. Banks 4.90ITC Ltd. Consumer Non Durables 4.70Larsen And Toubro Ltd. Construction Project 3.85Maruti Suzuki India Limited Auto 3.68GAIL (India) Ltd. Gas 2.50Vedanta Ltd. Non - Ferrous Metals 2.40Infosys Ltd. Software 2.39Zee EntertainmentEnterprises Ltd Media and Entertainment 2.27Motherson Sumi Systems Ltd. Auto Ancillaries 2.17Bharat PetroleumCorporation Ltd. Petroleum Products 2.04Tech Mahindra Ltd. Software 2.01State Bank Of India Banks 1.99Shree Cement Ltd. Cement 1.82Cadila Healthcare Ltd. Pharmaceuticals 1.77SBI Life Insurance Company Ltd Finance 1.67ICICI Lombard GeneralInsurance Company Ltd Finance 1.54Sun TV Limited. Media and Entertainment 1.52HCL Technologies Ltd. Software 1.49GlaxoSmithkline ConsumerHealthcare Ltd Consumer Non Durables 1.47Britannia Industries Ltd. Consumer Non Durables 1.46Mahindra & Mahindra Ltd. Auto 1.38Axis Bank Ltd Banks 1.35Persistent Systems Limited Software 1.31Schaeffler India Ltd Industrial Products 1.31Inter Globe Aviation Ltd Transportation 1.17Bharat Electronics Ltd Industrial Capital Goods 1.13Solar Industries India Limited Chemicals 1.12HDFC Ltd. Warrants Finance 1.11


Indraprastha Gas Ltd. Gas 1.11Sanofi India Ltd. Pharmaceuticals 1.11The Ramco Cements Ltd Cement 1.10Petronet LNG Ltd. Gas 1.08RBL Bank Ltd Banks 1.07Bata India Ltd. Consumer Durables 1.06DR.Lal Pathlabs Ltd Healthcare Services 1.06HDFC Ltd. Finance 1.06Hero MotoCorp Ltd. Auto 1.05Laurus Labs Ltd Pharmaceuticals 1.02Kajaria Ceramics Ltd. Construction 0.96Nestle India Ltd. Consumer Non Durables 0.93Amara Raja Batteries Ltd. Auto Ancillaries 0.84Industrial DevelopmentBank of India Ltd. Banks 0.82Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.76Edelweiss Financial Services Ltd Finance 0.69Dalmia Bharat Ltd. Cement 0.66Tata Consultancy Services Ltd. Software 0.66Bharat Earth Movers Ltd. Industrial Capital Goods 0.63Supreme Industries Limited Industrial Products 0.59Punjab National Bank Banks 0.46Ultratech Cement Ltd. Cement 0.30Yes Bank Ltd Banks 0.28Dabur India Ltd Consumer Non Durables 0.27OCL India Ltd Cement 0.12Listed/Awaiting Listing on Stock Exchange - Total 98.24Futures IndusInd Bank Ltd.-MAR2018 -0.58Futures (Market value represents Notional Value) - Total -0.58TERM DEPOSITS AXIS Bank Ltd. 0.47Term Deposits - Total 0.47Collateral Borrowing & Lending obligation 1.39Net Current Assets/(Liabilities) 0.48Grand Total 100.00

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

* For Fund Manager experience, please refer page 53-54. ## Risk free rate assumed to be 6.05% (FBIL Overnight MIBOR rate as on 28th February 2018). **Total Expense Ratio excludes applicable B15 fee and service tax. For last three dividends, please refer page no 55-57. For scheme performance, please refer page no 44-52

SYSTEMATIC INVESTMENT PLAN (SIP)

Scheme Inception : - December 29, 1998. The returns are calculated by XIRR approach assuming investment of ̀ 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).As TRI data is not available since inception of the scheme, benchmark SIP Performance is calculated by taking S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007 and TRI Values from 31st May 2007 to 31st Jan 2018Kotak 50 NAV as on February 28, 2018: `36.994 (Dividend Option), `39.656 (Direct Dividend Option), `221.174 (Growth Option), `233.254 (Direct Growth Option)

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

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Benchmark: Nifty 50AAUM: AUM:

Allotment date: December 29, 1998KOTAK 50

An Open - Ended Equity Scheme

Investment Objective

To generate capital appreciation from a portfolio of predominantly equity and equity related securities. The portfolio will generally comprise of equity and equity re lated inst ruments of around 50 companies which may go up to 59 companies but will not exceed 59 at any point in time. However, there is no assurance that the objective of the scheme will be realized.

Available Plans/Options

A) Regular Plan B) Direct Plan

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

Dividend Frequency

Trustee�s Discretion

Ratios

$Source: ICRA MFI Explorer.

Minimum Investment Amount

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

Additional Investment: ̀ 1000 & in multiples of ̀ 1

Ideal Investments Horizon: 3 years & above

Load Structure

Entry Load: Nil. (applicable for all plans)

Exit Load:

a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%.

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

Regular:2.17%; Direct: 1.00%

Investment Style:

Style

Product Label

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.

Investors understand that their principal will be at moderately high risk

Total Expense Ratio**

`1,374.92 crs`1,371.24 crs

Fund Manager: Mr. Harish Krishnan*

(As on February 28, 2018)

PORTFOLIO

Value Blend Growth Size

Large

Mid

Small

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

53.66%

0.94

0.15

13.13%

5

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

1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 23,10,000

1,25,796 4,30,114 8,59,177 13,93,536 23,81,695 1,60,78,057

9.16 11.94 14.36 14.22 13.15 17.56

1,28,532 4,43,007 8,40,670 13,45,528 23,00,575 1,16,23,265

13.57 13.99 13.48 13.24 12.50 14.82

1,29,976 4,44,070 8,35,622 13,40,881 23,01,637 1,12,02,132

15.92 14.16 13.23 13.14 12.51 14.51

Monthly SIP of 10000`

Total amount invested ( )`

Total Value as on Feb 28, 2018( )`

Scheme Returns (%)

Nifty 50 (TRI) ( )#`

Nifty 50 (TRI) Returns (%)

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

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

Folio Count: 91,500

SECTOR ALLOCATION (%)

35.28

31.11

14.96

13.12

9.16

10.65

9.77

9.11

12.58

7.86

4.01

4.81

3.78

3.91

1.53

3.88

0.76

3.79 3.66

Benchmark

Scheme

Financial Services Energy Consumer Goods AutomobileInformation Technology Construction Pharma Cement & Cement ProductsMedia & Entertainment Industrial Manufacturing



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


Scheme Inception : - July 27,2005. The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR helps in `calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Kotak Classic Equity NAV as on February 28, 2018: `24.503 (Dividend Option), `26.479 (Direct Dividend Option), `48.074 (Growth Option), `51.335 (Direct Growth Option)


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Benchmark: Nifty 100Fund Manager: Mr. Deepak Gupta*

AAUM: `161.40 crs AUM: `169.33 crs

Allotment date: July 27, 2005KOTAK CLASSIC EQUITY

An Open - Ended Equity Growth Scheme


To generate capital appreciation from a diversified portfolio of equity and equity related securities. However, there is no assurance that the objective of the scheme will be realized.


A) B) Direct Plan Regular Plan


Dividend Frequency


Ratios




Additional Investment: ̀ 1000 & in multiples of ̀ 1


Load Structure


Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%.



Regular: 2.60%; Direct: 1.48%

Investment Style:

Style

Product Label

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

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


Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Reliance Industries Ltd. Petroleum Products 5.23Infosys Ltd. Software 4.26Tata Consultancy Services Ltd. Software 3.87Hindustan Unilever Ltd. Consumer Non Durables 3.57Maruti Suzuki India Limited Auto 3.53Bharti Airtel Ltd. Telecom - Services 2.81Hindalco Industries Ltd Non - Ferrous Metals 2.66Larsen And Toubro Ltd. Construction Project 2.62GAIL (India) Ltd. Gas 2.19Power Grid Corporation OfIndia Ltd Power 2.17Bajaj Finance Limited Finance 2.07HDFC Bank Ltd. Banks 1.89Titan Company Ltd. Consumer Durables 1.75Hero MotoCorp Ltd. Auto 1.74National Thermal PowerCorporation Limited Power 1.71Jubilant Foodworks Limited Consumer Non Durables 1.70Britannia Industries Ltd. Consumer Non Durables 1.56HDFC Ltd. Warrants Finance 1.44Motherson Sumi Systems Ltd. Auto Ancillaries 1.43Tata Steel Limited. Ferrous Metals 1.32Sun TV Limited. Media and Entertainment 1.30Bharat PetroleumCorporation Ltd. Petroleum Products 1.29Jindal Steel & Power Ltd. Ferrous Metals 1.23Galaxy Surfactants Ltd Chemicals 1.20Tech Mahindra Ltd. Software 1.18Mahindra & Mahindra Ltd. Auto 1.16Indraprastha Gas Ltd. Gas 1.15ITC Ltd. Consumer Non Durables 1.11Shriram TransportFinance Co Ltd. Finance 1.07Vedanta Ltd. Non - Ferrous Metals 1.05Godrej Agrovet Ltd Consumer Non Durables 1.01AU Small Finance Bank Ltd. Banks 0.97Amber Enterprises India Ltd Consumer Durables 0.94Tata Communications Ltd Telecom - Services 0.94HDFC Ltd. Finance 0.88Bajaj Finserv Ltd. Finance 0.86State Bank Of India Banks 0.86Dr Reddys Laboratories Ltd Pharmaceuticals 0.82Grasim Industries Ltd. Cement 0.75RBL Bank Ltd Banks 0.74

Piramal Enterprises Limited Pharmaceuticals 0.72Federal Bank Ltd. Banks 0.70United Spirits Ltd. Consumer Non Durables 0.68Zee EntertainmentEnterprises Ltd Media and Entertainment 0.66Eris Lifesciences Ltd Pharmaceuticals 0.62Biocon Ltd. Pharmaceuticals 0.60Avenue Supermarts Ltd Retailing 0.59Laurus Labs Ltd Pharmaceuticals 0.59JSW Steel Ltd. Ferrous Metals 0.57The Ramco Cements Ltd Cement 0.48Indian Oil Corporation Ltd Petroleum Products 0.45Prataap Snacks Ltd Consumer Non Durables 0.41Aditya Birla Capital Ltd Finance 0.39Hindustan PetroleumCorporation Ltd Petroleum Products 0.32Eicher Motors Ltd Auto 0.29Ultratech Cement Ltd. Cement 0.29Tata Motors Ltd - DVR Auto 0.17HCL Technologies Ltd. Software 0.13L&T Finance Holdings Ltd Finance 0.09Tata Steel Limited(Partly Paid Shares) Ferrous Metals 0.09Apollo Micro Systems Ltd Industrial Capital Goods 0.05IndusInd Bank Ltd. Banks 0.03Listed/Awaiting Listing on Stock Exchange - Total 78.95Preference Shares Listed/Awaiting listing on Stock Exchange 7.5% Vedanta ReedemablePreference Shares Non - Ferrous Metals 0.11Listed/Awaiting listing on Stock Exchange - Total 0.11Futures CNX NIFTY-MAR2018 4.61HDFC Bank Ltd.-MAR2018 4.18IndusInd Bank Ltd.-MAR2018 2.98ICICI Bank Ltd.-MAR2018 1.07HCL Technologies Ltd.-MAR2018 0.78RBL Bank Ltd-MAR2018 0.67Futures (Market value represents Notional Value) - Total 14.29TERM DEPOSITS AXIS Bank Ltd. # 3.39Standard Chartered Bank Ltd 0.16Term Deposits - Total 3.55Collateral Borrowing & Lending obligation 19.21Net Current Assets/(Liabilities) -16.11Grand Total 100.00



Large

Mid

Small

PORTFOLIO

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

83.88%

0.93

0.26

12.96%

6




Scheme Returns (%)

Nifty 100 (TRI) ( )#`


Nifty 50 (TRI) ( )^`



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

1,29,808 4,56,340 8,88,380 14,54,454 25,24,780 36,58,452

15.64 16.07 15.72 15.42 14.24 13.02

1,28,467 4,49,150 8,67,790 14,03,850 24,36,965 36,18,187

13.46 14.95 14.77 14.43 13.58 12.87

1,28,532 4,43,007 8,40,670 13,45,528 23,00,575 34,03,313

13.57 13.99 13.48 13.24 12.50 11.99


(As on February 28, 2018)Folio Count: 17,628

32.47

20.88

13.65

14.51

12.28

13.32

10.85

10.23

9.85

8.32

5.24

6.83 6.76 4.61

1.99

3.75

4.31

3.36

Benchmark

Scheme

Financial Services Energy Consumer Goods Information Technology Automobile

Metals Cash & Cash Equivalent Others Telecom Pharma






Dividend Frequency


Ratios




Additional Investment: `1000 & in multiples of ̀ 1


Load Structure


Exit Load:

a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%

b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units: NIL



7


Scheme Inception : - September 09, 2004. The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR `helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional Benchmark TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Kotak Opportunities NAV as on February 28, 2018: ̀ 26.488 (Dividend Option), ̀ 28.251 (Direct Dividend Option), ̀ 114.992 (Growth Option), ̀ 121.295 (Direct Growth Option)

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


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately



PORTFOLIO


Equity & Equity related (Listed/Awaiting listing on Stock Exchange)HDFC Bank Ltd. Banks 5.92Reliance Industries Ltd. Petroleum Products 4.60Larsen And Toubro Ltd. Construction Project 3.87HDFC Ltd. Finance 3.79Gujarat State Petronet Ltd. Gas 3.30ICICI Bank Ltd. Banks 3.28Coromandel International Ltd. Fertilisers 2.93Infosys Ltd. Software 2.70Bharat Financial Inclusion Limited Finance 2.36ITC Ltd. Consumer Non Durables 2.33Hero MotoCorp Ltd. Auto 2.26Inter Globe Aviation Ltd Transportation 2.24The Ramco Cements Ltd Cement 2.21ICICI Lombard GeneralInsurance Company Ltd Finance 2.17Max Financial Services Ltd. Finance 2.08Schaeffler India Ltd Industrial Products 2.06GAIL (India) Ltd. Gas 2.04State Bank Of India Banks 2.02Zee EntertainmentEnterprises Ltd Media and Entertainment 2.01Axis Bank Ltd Banks 1.99Century Textiles & Industries Ltd. Cement 1.92Shree Cement Ltd. Cement 1.74Godrej Agrovet Ltd Consumer Non Durables 1.70Indraprastha Gas Ltd. Gas 1.69Maruti Suzuki India Limited Auto 1.67Indian Bank Banks 1.60Avenue Supermarts Ltd Retailing 1.56Bata India Ltd. Consumer Durables 1.45Bharat Earth Movers Ltd. Industrial Capital Goods 1.42OCL India Ltd Cement 1.33Petronet LNG Ltd. Gas 1.30Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.23Bajaj Finance Limited Finance 1.17Britannia Industries Ltd. Consumer Non Durables 1.15Healthcare Global Enterprises Ltd Healthcare Services 1.15UPL Ltd Pesticides 1.15Yes Bank Ltd Banks 1.15

Bharat PetroleumCorporation Ltd. Petroleum Products 1.07Jindal Steel & Power Ltd. Ferrous Metals 1.07Jubilant Foodworks Limited Consumer Non Durables 1.07Arvind Ltd Textile Products 1.06DR.Lal Pathlabs Ltd Healthcare Services 1.05Thermax Ltd. Industrial Capital Goods 1.04SRF Ltd. Textile Products 1.03TI Financial Holding ltd. Finance 1.03JK Cement Ltd. Cement 0.98Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.96Heritage Foods Ltd Consumer Non Durables 0.94AIA Engineering Limited Industrial Products 0.91Linde India Ltd. Chemicals 0.91Techno Electric &Engineering Co Ltd. Construction Project 0.76Whirlpool of India Ltd. Consumer Durables 0.56Equitas Holdings Ltd Finance 0.54National Buildings ConstructionCorporation Limited Construction 0.51Multi Commodity Exchange ofIndia Limited Finance 0.48HDFC Ltd. Warrants Finance 0.46Container Corporation ofIndia Ltd. Transportation 0.40Swaraj Engines Ltd Industrial Products 0.24Edelweiss Financial Services Ltd Finance 0.23Listed/Awaiting Listing on Stock Exchange - Total 97.84Preference Shares Listed/Awaiting listing on Stock Exchange 6% Redm Preference Sh ZeeEntertainment Enterprises Ltd Media and Entertainment 0.05Listed/Awaiting listing on Stock Exchange - Total 0.05TERM DEPOSITS AXIS Bank Ltd. 0.57Term Deposits - Total 0.57Collateral Borrowing & Lending obligation 2.60Net Current Assets/(Liabilities) -1.06Grand Total 100.00

Benchmark: Nifty 500Fund Manager: Mr. Harsha Upadhyaya*

AAUM: `2,361.64 crs AUM: `2,385.58 crs

Allotment date: September 9, 2004KOTAK OPPORTUNITIES


Investment Style

StyleValue Blend Growth Size

Large

Mid

Small



If you have trouble imagining a 20% loss in the stock market,you shouldn't be in stocks. � John Bogle

7

37.31%

0.97

0.40

13.83%

Portfolio Turnover

$Beta

$Sharpe ##

$Standard Deviation





Scheme Returns (%)

Nifty 500 (TRI) ( )#`





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

1,24,827 4,52,288 9,43,204 15,68,233 27,50,936 51,48,217

7.61 15.44 18.17 17.54 15.84 15.82

1,28,957 4,58,808 9,04,559 14,62,145 25,08,620 43,13,127

14.26 16.45 16.46 15.57 14.13 13.51

1,28,532 4,43,007 8,40,670 13,45,528 23,00,524 40,43,674

13.57 13.99 13.48 13.24 12.50 12.66


Folio Count: 1,35,467

30.33

29.23

11.96

15.32

12.48

12.77

2.28

6.85

2.90

5.66

4.47

5.13

0.95

4.07

8.78

3.93

9.53

2.70

2.74

2.64

Benchmark

Scheme

Financial Services Energy Consumer Goods Cement & Cement ProductsIndustrial Manufacturing Construction Fertilisers & Pesticides AutomobileInformation Technology Services


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. However, there is no assurance that the objective of the scheme will be realized.




Dividend Frequency


Ratios

Source: $ICRA MFI Explorer.





Load Structure


Exit Load:

a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units:1%

b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units: NIL



7


Scheme Inception : - September 11, 2009. The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR `helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).

Kotak Select Focus Fund NAV as on February 28, 2018: ` 23.342 (Dividend Option), ` 24.713 (Direct Dividend Option), ` 32.730 (Growth Option), ` 34.406 (Direct Growth Option)

Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

PORTFOLIO


AAUM: `17,485.46 crs AUM: `17,802.56 crs

Allotment date: September 11, 2009KOTAK SELECT FOCUS FUND


16.67%

0.97

0.44

13.64%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

Investment Style


Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks 7.26Larsen And Toubro Ltd. Construction Project 5.52Reliance Industries Ltd. Petroleum Products 5.36HDFC Ltd. Finance 4.47ICICI Bank Ltd. Banks 4.40Hero MotoCorp Ltd. Auto 3.33State Bank Of India Banks 3.09Maruti Suzuki India Limited Auto 2.98ITC Ltd. Consumer Non Durables 2.90IndusInd Bank Ltd. Banks 2.74RBL Bank Ltd Banks 2.48Infosys Ltd. Software 2.47GAIL (India) Ltd. Gas 2.42Ultratech Cement Ltd. Cement 2.33The Ramco Cements Ltd Cement 1.96Shree Cement Ltd. Cement 1.87Indraprastha Gas Ltd. Gas 1.85Axis Bank Ltd Banks 1.78Petronet LNG Ltd. Gas 1.74ICICI Lombard GeneralInsurance Company Ltd Finance 1.71Britannia Industries Ltd. Consumer Non Durables 1.68Bharat Electronics Ltd Industrial Capital Goods 1.56Bajaj Finance Limited Finance 1.54Mahindra & Mahindra Ltd. Auto 1.39Container Corporation ofIndia Ltd. Transportation 1.25SBI Life Insurance Company Ltd Finance 1.19Arvind Ltd Textile Products 1.18Hindustan PetroleumCorporation Ltd Petroleum Products 1.12Century Textiles & Industries Ltd. Cement 1.11HDFC Standard LifeInsurance Company Ltd Finance 1.07MRF Limited Auto Ancillaries 1.07Inter Globe Aviation Ltd Transportation 1.05Bharat PetroleumCorporation Ltd. Petroleum Products 1.04Godrej Consumer Products Ltd. Consumer Non Durables 1.02Kec International Ltd. Construction Project 1.00Max Financial Services Ltd. Finance 0.87

Bajaj Finserv Ltd. Finance 0.83Cadila Healthcare Ltd. Pharmaceuticals 0.82Bata India Ltd. Consumer Durables 0.74Bharat Earth Movers Ltd. Industrial Capital Goods 0.66Ashok Leyland Ltd. Auto 0.64Sun PharmaceuticalsIndustries Ltd. Pharmaceuticals 0.63Tata Motors Ltd. Auto 0.58Bayer Cropscience Ltd. Pesticides 0.55Federal Bank Ltd. Banks 0.53Equitas Holdings Ltd Finance 0.51Solar Industries India Limited Chemicals 0.47Jubilant Foodworks Limited Consumer Non Durables 0.37Laurus Labs Ltd Pharmaceuticals 0.37Techno Electric &Engineering Co Ltd. Construction Project 0.37AIA Engineering Limited Industrial Products 0.31HDFC Ltd. Warrants Finance 0.25Avenue Supermarts Ltd Retailing 0.23Whirlpool of India Ltd. Consumer Durables 0.23ICICI Prudential LifeInsurance Company Ltd Finance 0.19Max India Limited Healthcare Services 0.12Kirloskar Oil Engines Ltd. Industrial Products 0.09Listed/Awaiting Listing on Stock Exchange - Total 91.29Preference Shares Listed/Awaiting listing on Stock Exchange 6% Redm Preference Sh ZeeEntertainment Enterprises Ltd Media and Entertainment 0.01Listed/Awaiting listing on Stock Exchange - Total 0.01Futures CNX NIFTY-MAR2018 1.94Inter Globe Aviation Ltd-MAR2018 0.07HDFC Bank Ltd.-MAR2018 0.04Infosys Ltd.-MAR2018 0.04Futures (Market value represents Notional Value) - Total 2.09TERM DEPOSITS AXIS Bank Ltd. 0.79Term Deposits - Total 0.79Collateral Borrowing & Lending obligation 8.20Net Current Assets/(Liabilities) -2.38Grand Total 100.00


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.

Style

SECTOR ALLOCATION (%) Value Blend Growth Size

Large

Mid

Small

Wealth is like sea-water; the more we drink, the thirstier we become;and the same is true of fame. � Arthur Schopenhauer



8





Scheme Returns (%)

Nifty 200 (TRI) ( )#`




1 year 3 years 5 years 7 years Since Inception

1,20,000 3,60,000 6,00,000 8,40,000 10,20,000

1,25,501 4,56,538 9,74,140 16,62,625 21,94,452

8.69 16.10 19.50 19.18 17.45

1,28,522 4,52,861 8,83,452 14,27,532 18,36,054

13.55 15.53 15.49 14.90 13.43

1,28,532 4,43,007 8,40,670 13,45,528 17,36,432

13.57 13.99 13.48 13.24 12.18



32.00

35.07

12.88

14.52

9.32

10.00

2.23

7.27

12.06

7.17 6.61

3.92

5.89

1.58

2.62

10.01

2.50

2.04

2.37

Benchmark

Scheme

Financial Services Energy Automobile Cement & Cement Products Consumer Goods

Cash & Cash Equivalent Construction Industrial Manufacturing Information Technology Services


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



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

Dividend Frequency


Ratios



Initial Investment: `500 and in multiple of `500



Load Structure


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



7


Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

PORTFOLIO


AAUM: `715.86 crs AUM: `717.02 crs

Allotment date: November 23, 2005KOTAK TAX SAVER

An Open - Ended Equity Linked Savings Scheme

39.84%

1.00

0.23

14.39%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

Investment Style

UPL Ltd Pesticides 1.22SRF Ltd. Textile Products 1.19Arvind Ltd Textile Products 1.17Amara Raja Batteries Ltd. Auto Ancillaries 1.15Nestle India Ltd. Consumer Non Durables 1.08Jindal Steel & Power Ltd. Ferrous Metals 1.06SpiceJet Ltd. Transportation 1.06Linde India Ltd. Chemicals 1.04Vedanta Ltd. Non - Ferrous Metals 1.03Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.02AIA Engineering Limited Industrial Products 1.00Zee EntertainmentEnterprises Ltd Media and Entertainment 0.99JMC Projects (India) Ltd Construction 0.97Tejas Networks Ltd Telecom - Equipment & Accessories 0.95Max Financial Services Ltd. Finance 0.93Container Corporation ofIndia Ltd. Transportation 0.91Laurus Labs Ltd Pharmaceuticals 0.91Hindustan Oil ExplorationCompany Ltd. Oil 0.85Strides Shasun Ltd. Pharmaceuticals 0.75Hawkins Cooker Ltd Household Appliances 0.60Multi Commodity Exchange ofIndia Limited Finance 0.54Blue Dart Express Ltd. Transportation 0.51KSB Pump Ltd Industrial Products 0.43Listed/Awaiting Listing on Stock Exchange - Total 97.61Preference Shares Listed/Awaiting listing on Stock Exchange 6% Redm Preference Sh ZeeEntertainment Enterprises Ltd Media and Entertainment 0.11Listed/Awaiting listing on Stock Exchange - Total 0.11Collateral Borrowing & Lending obligation 2.26Net Current Assets/(Liabilities) 0.02Grand Total 100.00

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)HDFC Bank Ltd. Banks 6.31Reliance Industries Ltd. Petroleum Products 5.51Larsen And Toubro Ltd. Construction Project 4.50ICICI Bank Ltd. Banks 3.64IndusInd Bank Ltd. Banks 3.28HDFC Ltd. Finance 3.15Infosys Ltd. Software 2.92GlaxoSmithkline ConsumerHealthcare Ltd Consumer Non Durables 2.80Shree Cement Ltd. Cement 2.78Axis Bank Ltd Banks 2.65Mahanagar Gas Ltd Gas 2.53SKF India Ltd Industrial Products 2.49GAIL (India) Ltd. Gas 2.39Ultratech Cement Ltd. Cement 2.32OCL India Ltd Cement 2.21RBL Bank Ltd Banks 2.09Whirlpool of India Ltd. Consumer Durables 2.00ITC Ltd. Consumer Non Durables 1.94Thermax Ltd. Industrial Capital Goods 1.93State Bank Of India Banks 1.87Solar Industries India Limited Chemicals 1.61Techno Electric &Engineering Co Ltd. Construction Project 1.59The Ramco Cements Ltd Cement 1.57Bharat PetroleumCorporation Ltd. Petroleum Products 1.50Bajaj Finance Limited Finance 1.49APL Apollo Tubes Limited Ferrous Metals 1.43Cadila Healthcare Ltd. Pharmaceuticals 1.41Yes Bank Ltd Banks 1.35Gujarat State Petronet Ltd. Gas 1.30AU Small Finance Bank Ltd. Banks 1.24Maruti Suzuki India Limited Auto 1.23Bata India Ltd. Consumer Durables 1.22

Scheme Inception : - November 23, 2005. The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR `helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Kotak Tax Saver NAV as on February 28, 2018: `19.396 (Dividend Option), `22.567 (Direct Dividend Option), `40.943 (Growth Option), `43.770 (Direct Growth Option)


Style

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.



Large

Mid

Small



I'm only rich because I know when I'm wrong�I basically have survived byrecognizing my mistakes. �George Soros

9





Scheme Returns (%)

Nifty 500 (TRI) ( )#`





1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 14,80,000

1,22,547 4,36,485 9,10,796 14,69,156 25,07,100 33,47,406

3.99 12.96 16.74 15.70 14.11 12.48

1,28,957 4,58,808 9,04,559 14,62,145 25,08,818 34,47,830

14.26 16.45 16.46 15.57 14.13 12.92

1,28,532 4,43,007 8,40,670 13,45,528 23,00,575 31,97,016

13.57 13.99 13.48 13.24 12.50 11.81



30.33

28.54

11.96

16.29

12.48

10.06

4.47

7.06

2.28

6.67

2.90

5.85

4.53

3.53

4.74

3.07

2.74

3.07

9.53

2.92

Benchmark

Scheme

Financial Services Energy Consumer Goods Construction Cement & Cement Products

Industrial Manufacturing Metals Pharma Services Information Technology






Dividend Frequency


Ratios






Load Structure


Exit Load:

a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units:1%

b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units:NIL



7


Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

PORTFOLIO

Benchmark: Nifty Midcap 100Fund Manager: Mr. Pankaj Tibrewal*

AAUM: `828.95 crs AUM: `834.48 crs

Allotment date: February 24, 2005KOTAK MID-CAP


62.67%

0.93

0.61

15.61%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

Investment StyleStyle

Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Dixon Technologies India Ltd Consumer Durables 3.60Atul Ltd. Chemicals 3.12Schaeffler India Ltd Industrial Products 2.91Apollo Pipes Ltd Finance and Investments 2.62Solar Industries India Limited Chemicals 2.58RBL Bank Ltd Banks 2.56JK Cement Ltd. Cement 2.53IndusInd Bank Ltd. Banks 2.49V.S.T Tillers Tractors Ltd Auto 2.43Techno Electric &Engineering Co Ltd. Construction Project 2.42Finolex Cables Ltd. Industrial Products 2.39Federal Bank Ltd. Banks 2.19Prataap Snacks Ltd Consumer Non Durables 2.10Galaxy Surfactants Ltd Chemicals 2.09Godrej Agrovet Ltd Consumer Non Durables 2.06Motherson Sumi Systems Ltd. Auto Ancillaries 2.04MRF Limited Auto Ancillaries 1.98Shriram City Union Finance Ltd. Finance 1.98APL Apollo Tubes Limited Ferrous Metals 1.97The Ramco Cements Ltd Cement 1.91Lux Industries Limited Textile Products 1.85Persistent Systems Limited Software 1.85JMC Projects (India) Ltd Construction 1.80Supreme Industries Limited Industrial Products 1.79Eveready Industries India Ltd. Consumer Non Durables 1.73Ratnamani Metals & Tubes Ltd. Ferrous Metals 1.72Hindustan Oil ExplorationCompany Ltd. Oil 1.71SKF India Ltd Industrial Products 1.67Kewal Kiran Clothing Limited. Textile Products 1.64Thermax Ltd. Industrial Capital Goods 1.64AU Small Finance Bank Ltd. Banks 1.61

Sun TV Limited. Media and Entertainment 1.59Bharat Forge Ltd. Industrial Products 1.58Heritage Foods Ltd Consumer Non Durables 1.52Laurus Labs Ltd Pharmaceuticals 1.51Navneet Education Ltd. Media and Entertainment 1.45Sundaram Finance Ltd. Finance 1.44Bajaj Finance Limited Finance 1.40Mahindra & MahindraFinancial Services Ltd. Finance 1.36Hawkins Cooker Ltd Household Appliances 1.35Cadila Healthcare Ltd. Pharmaceuticals 1.33Amber Enterprises India Ltd Consumer Durables 1.32Hindustan PetroleumCorporation Ltd Petroleum Products 1.32Tata Global Beverages Limited Consumer Non Durables 1.32Gujarat State Petronet Ltd. Gas 1.27Apollo Hospitals Enterprises Ltd. Healthcare Services 1.25Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.25Amara Raja Batteries Ltd. Auto Ancillaries 1.18Bajaj Finserv Ltd. Finance 1.16Whirlpool of India Ltd. Consumer Durables 1.14Strides Shasun Ltd. Pharmaceuticals 1.07Arvind Ltd Textile Products 1.06Inter Globe Aviation Ltd Transportation 0.95Punjab National Bank Banks 0.78Avenue Supermarts Ltd Retailing 0.73Canara Bank Banks 0.70Mcleod Russel India Ltd Consumer Non Durables 0.64JK Tyre & Industries Ltd. Auto Ancillaries 0.52Sundaram FinanceHoldings Limited. Finance 0.12Listed/Awaiting Listing on Stock Exchange - Total 99.29Collateral Borrowing & Lending obligation 0.98Net Current Assets/(Liabilities) -0.27Grand Total 100.00

Note: Midcap stocks as a % age of Net Assets: 66.78%.


Scheme Inception : - February 24,2005. The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR `helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Kotak Mid-cap NAV as on February 28, 2018: `42.402 (Dividend Option), `45.373 (Direct Dividend Option), `79.658 (Growth Option), `84.846 (Direct Growth Option)

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.



Large

Mid

Small



If we command our wealth, we shall be rich and free.If our wealth commands us, we are poor indeed. �Edmund Burke

10





Scheme Returns (%)

Nifty Midcap 100 (TRI) ( )#`

Nifty Midcap 100 (TRI) Returns (%)




1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 15,70,000

1,28,298 4,76,241 10,88,833 18,60,544 34,68,808 52,63,988

13.19 19.10 24.11 22.35 20.15 17.09

1,27,797 4,81,657 10,47,932 17,25,608 30,93,700 50,24,209

12.38 19.91 22.51 20.22 18.03 16.46

1,28,532 4,43,007 8,40,670 13,45,528 23,00,575 37,08,155

13.57 13.99 13.48 13.24 12.50 12.33


Folio Count: 56,243

20.76

20.28

7.10

15.59

14.99

14.19

4.69

8.16

1.66

7.80

9.42

5.17

2.73

4.45

6.56

4.29

5.05

4.22

4.98

3.69

Benchmark

Scheme

Financial Services Industrial Manufacturing Consumer Goods Automobile Chemicals

Pharma Cement & Cement Products Energy Construction Metals


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. However, there is no assurance that the objective of the scheme will be realized.




Dividend Frequency


Ratios






Load Structure


Exit Load:

a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units:1%.




7


Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


PORTFOLIO

Benchmark: S&P BSE MID SMALL CAPFund Manager: Mr. Pankaj Tibrewal*

AAUM: `2,965.20 crs AUM: `3,026.64 crs

Allotment date: March 30, 2007KOTAK EMERGING EQUITY


33.60%

0.87

0.66

14.88%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

Investment Style

Style

Equity & Equity related (Listed/Awaiting listing on Stock Exchange) IndusInd Bank Ltd. Banks 3.71Schaeffler India Ltd Industrial Products 3.47Atul Ltd. Chemicals 3.03RBL Bank Ltd Banks 2.85The Ramco Cements Ltd Cement 2.78Bata India Ltd. Consumer Durables 2.64Finolex Cables Ltd. Industrial Products 2.49Supreme Industries Limited Industrial Products 2.48Solar Industries India Limited Chemicals 2.33Godrej Agrovet Ltd Consumer Non Durables 2.29Federal Bank Ltd. Banks 2.17APL Apollo Tubes Limited Ferrous Metals 2.16Shriram City Union Finance Ltd. Finance 2.13SKF India Ltd Industrial Products 2.13Emami Ltd. Consumer Non Durables 2.07Motherson Sumi Systems Ltd. Auto Ancillaries 2.05Coromandel International Ltd. Fertilisers 1.98Eveready Industries India Ltd. Consumer Non Durables 1.95Sundaram Finance Ltd. Finance 1.89Persistent Systems Limited Software 1.82Thermax Ltd. Industrial Capital Goods 1.82Kajaria Ceramics Ltd. Construction 1.77Kewal Kiran Clothing Limited. Textile Products 1.71Apollo Hospitals Enterprises Ltd. Healthcare Services 1.69Edelweiss Financial Services Ltd Finance 1.69Future Retail Ltd. Retailing 1.54Amara Raja Batteries Ltd. Auto Ancillaries 1.47Gujarat State Petronet Ltd. Gas 1.47Whirlpool of India Ltd. Consumer Durables 1.47Oberoi Realty Ltd Construction 1.43Kirloskar Oil Engines Ltd. Industrial Products 1.41Mahindra & MahindraFinancial Services Ltd. Finance 1.41Inter Globe Aviation Ltd Transportation 1.40Eris Lifesciences Ltd Pharmaceuticals 1.38Britannia Industries Ltd. Consumer Non Durables 1.37Navneet Education Ltd. Media and Entertainment 1.37Lux Industries Limited Textile Products 1.36

Bharat Earth Movers Ltd. Industrial Capital Goods 1.32SRF Ltd. Textile Products 1.32ICICI Bank Ltd. Banks 1.30Hawkins Cooker Ltd Household Appliances 1.28Ramkrishna Forgings Ltd. Industrial Products 1.27Laurus Labs Ltd Pharmaceuticals 1.22City Union Bank Ltd. Banks 1.16Indraprastha Gas Ltd. Gas 1.11Equitas Holdings Ltd Finance 1.09Sheela Foam Ltd Consumer Durables 1.08Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.04Bajaj Finance Limited Finance 1.00PNC INFRATECH LIMITED Construction 0.90V-Guard Industries Ltd. Industrial Capital Goods 0.84Abbott India Ltd. Pharmaceuticals 0.81Divi s Laboratories Limited Pharmaceuticals 0.75TI Financial Holding ltd. Finance 0.73Zee EntertainmentEnterprises Ltd Media and Entertainment 0.71Carborundum Universal Ltd. Industrial Products 0.70Bank Of Baroda Banks 0.67Strides Shasun Ltd. Pharmaceuticals 0.62WPIL Ltd Industrial Products 0.61D-Link (India) Ltd Hardware 0.47Pennar Engineered BuildingSystems Limited Ferrous Metals 0.19Sundaram FinanceHoldings Limited. Finance 0.18Listed/Awaiting Listing on Stock Exchange - Total 96.55Futures MRF Limited-MAR2018 1.19V-Guard Industries Ltd.-MAR2018 0.51Futures (Market value represents Notional Value) - Total 1.70TERM DEPOSITS AXIS Bank Ltd. 0.50Term Deposits - Total 0.50Collateral Borrowing & Lending obligation 3.43Net Current Assets/(Liabilities) -2.18Grand Total 100.00

Notes: Term Deposit as provided above is towards margin for derivatives transactions. Midcap and Small cap stocks as a % age of Net Assets: 86.70%.

Scheme Inception : - March 30, 2007. The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR `helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).Kotak Emerging Equity NAV as on February 28, 2018: `27.314 (Dividend Option), `30.992 (Direct Dividend Option), `39.962 (Growth Option), `42.366 (Direct Growth Option)



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


Large

Mid

Small



11





Scheme Returns (%)

S&P BSE MidSmallCap (TRI) ( )#`

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




1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 13,20,000

1,27,823 4,77,786 11,43,138 19,95,770 36,17,067 40,15,628

12.42 19.33 26.14 24.33 20.92 19.02

1,32,059 5,03,302 10,92,581 17,95,231 31,38,649 35,38,768

19.33 23.08 24.25 21.34 18.29 16.92

1,28,532 4,43,007 8,40,670 13,45,528 23,00,575 26,06,735

13.57 13.99 13.48 13.24 12.50 11.81



17.60

21.06

10.85

20.12

13.04

15.78

8.06

5.81

3.55

5.36

7.04

4.71

7.58

4.37

6.60

4.10

2.70

2.78

2.80

2.68

Benchmark

Scheme

Financial Services Industrial Manufacturing Consumer Goods PharmaChemicals Automobile Services ConstructionCement & Cement Products Textiles


The investment objective of the Scheme is to generate long-term capital appreciation f r o m a d i v e r s i f i e d p o r t f o 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.However, there is no assurance that the objective of the scheme will be realized.




Dividend Frequency


Ratios






Load Structure


Exit Load:

a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%;

b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units: NIL;



7


Product Label

PORTFOLIO

Benchmark: S&P BSE � 100Fund Manager: Mr. Harish Krishnan*

AAUM: `474.34 crs AUM: `476.74 crs

Allotment date: February 25, 2008KOTAK INFRASTRUCTURE & ECONOMIC REFORM FUND


37.31%

0.93

0.42

15.38%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

Investment Style

Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Shree Cement Ltd. Cement 4.20Indraprastha Gas Ltd. Gas 4.03Larsen And Toubro Ltd. Construction Project 3.73Ultratech Cement Ltd. Cement 3.44GAIL (India) Ltd. Gas 3.36Schaeffler India Ltd Industrial Products 3.05Solar Industries India Limited Chemicals 3.02Bharat Earth Movers Ltd. Industrial Capital Goods 2.98National Thermal PowerCorporation Limited Power 2.91Thermax Ltd. Industrial Capital Goods 2.91SKF India Ltd Industrial Products 2.82GE Power India Limited Industrial Capital Goods 2.79Kirloskar Oil Engines Ltd. Industrial Products 2.62Bharti Airtel Ltd. Telecom - Services 2.47Container Corporation ofIndia Ltd. Transportation 2.46JMC Projects (India) Ltd Construction 2.13H G Infra Engineering Ltd. Construction and Engineering 2.06AIA Engineering Limited Industrial Products 1.99Kajaria Ceramics Ltd. Construction 1.93Supreme Industries Limited Industrial Products 1.87Hindustan Oil ExplorationCompany Ltd. Oil 1.83Sadbhav Engineering Ltd. Construction Project 1.81Cummins India Ltd. Industrial Products 1.79Amara Raja Batteries Ltd. Auto Ancillaries 1.72The Ramco Cements Ltd Cement 1.70Inter Globe Aviation Ltd Transportation 1.68Mahanagar Gas Ltd Gas 1.65

Tejas Networks Ltd Telecom - Equipment &

Accessories 1.65Shriram TransportFinance Co Ltd. Finance 1.62Gujarat State Petronet Ltd. Gas 1.56Petronet LNG Ltd. Gas 1.56Gujarat Gas Company Ltd Gas 1.55Bharat Electronics Ltd Industrial Capital Goods 1.54APL Apollo Tubes Limited Ferrous Metals 1.51Simplex Infrastructures Ltd Construction 1.43AU Small Finance Bank Ltd. Banks 1.36Bharat PetroleumCorporation Ltd. Petroleum Products 1.35Brigade Enterprises Limited Construction 1.31OCL India Ltd Cement 1.28Kalpataru PowerTransmission Ltd. Power 1.16JK Tyre & Industries Ltd. Auto Ancillaries 1.12Linde India Ltd. Chemicals 1.12PNC INFRATECH LIMITED Construction 1.12Tata Power Co. Ltd. Power 1.06GMR Infrastructure Ltd. Construction Project 0.99Huhtamaki PPL Ltd Industrial Products 0.99Techno Electric &Engineering Co Ltd. Construction Project 0.88Ashok Leyland Ltd. Auto 0.74WPIL Ltd Industrial Products 0.73Capacite Infraprojects Limited Construction 0.68Indian Energy Exchange Ltd. Finance 0.54GP Petroleums Limited Petroleum Products 0.51Listed/Awaiting Listing on Stock Exchange - Total 98.31TERM DEPOSITS AXIS Bank Ltd. 0.31Term Deposits - Total 0.31Collateral Borrowing & Lending obligation 1.41Net Current Assets/(Liabilities) -0.03Grand Total 100.00


Scheme Inception : - February 25, 2008. The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR `helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).

Kotak Infrastructure & Economic Reform Fund NAV as on February 28, 2018: ̀ 20.582 (Dividend Option), ̀ 23.393 (Direct Dividend Option), ̀ 21.905 (Growth Option), ̀ 23.409 (Direct Growth Option)

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

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


Investors understand that their principal will be at high risk

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Style



Large

Mid

Small



My problem lies with reconciling my gross habits with my net income� Erroll Flynn

12





Scheme Returns (%)

S&P BSE 100 (TRI) ( )#`

S&P BSE 100 (TRI) Returns (%)




1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 12,10,000

1,25,220 4,59,626 10,12,446 16,22,671 27,30,592 27,52,497

8.24 16.57 21.09 18.49 15.71 15.56

1,28,117 4,48,130 8,61,499 13,88,754 23,91,502 24,14,496

12.90 14.79 14.47 14.12 13.23 13.14

1,28,532 4,43,007 8,40,670 13,45,528 23,00,575 23,23,261

13.57 13.99 13.48 13.24 12.50 12.43



Folio Count: 26,542

9.36

26.07

25.63

24.34

14.44

16.01

15.15

9.35

7.27

4.14

4.13

10.18

4.12

4.22

3.58

10.99

2.98

2.06

Benchmark

Scheme

Industrial Manufacturing Energy Construction Cement & Cement Products Services

Chemicals Telecom Automobile Financial Services Unknown

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

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

Dividend FrequencyHalf Yearly (25th of Mar/Sep)

Ratios


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



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

Total Expense Ratio**Regular: 2.08%; Direct: 0.87%

7


PORTFOLIO

Benchmark: CRISIL Hybrid 35+65 - Aggressive Index $

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

AAUM: `2,260.93 crs

AUM: `2,232.44 crsAllotment date: November 25, 1999

KOTAK BALANCEAn Open - Ended Balanced Scheme

Investment Style



Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks 3.17State Bank Of India Banks 2.27ICICI Bank Ltd. Banks 2.26Shree Cement Ltd. Cement 2.25Schaeffler India Ltd Industrial Products 1.97IndusInd Bank Ltd. Banks 1.85ITC Ltd. Consumer Non Durables 1.84Larsen And Toubro Ltd. Construction Project 1.80V.S.T Tillers Tractors Ltd Auto 1.76Infosys Ltd. Software 1.73GlaxoSmithkline ConsumerHealthcare Ltd Consumer Non Durables 1.67RBL Bank Ltd Banks 1.58Atul Ltd. Chemicals 1.53HDFC Ltd. Finance 1.52The Ramco Cements Ltd Cement 1.47Mahindra & Mahindra Ltd. Auto 1.44JK Cement Ltd. Cement 1.43Axis Bank Ltd Banks 1.42Maruti Suzuki India Limited Auto 1.42Tata Motors Ltd. Auto 1.39Thermax Ltd. Industrial Capital Goods 1.39Inter Globe Aviation Ltd Transportation 1.38Reliance Industries Ltd. Petroleum Products 1.35GAIL (India) Ltd. Gas 1.33Techno Electric &Engineering Co Ltd. Construction Project 1.21Dixon Technologies India Ltd Consumer Durables 1.18Emami Ltd. Consumer Non Durables 1.15ICICI Lombard GeneralInsurance Company Ltd Finance 1.11Sun TV Limited. Media and Entertainment 1.09Bajaj Auto Ltd. Auto 1.06Finolex Cables Ltd. Industrial Products 1.06Motherson Sumi Systems Ltd. Auto Ancillaries 1.03Eris Lifesciences Ltd Pharmaceuticals 1.00Bharat PetroleumCorporation Ltd. Petroleum Products 0.98Yes Bank Ltd Banks 0.95Zee EntertainmentEnterprises Ltd Media and Entertainment 0.95Federal Bank Ltd. Banks 0.94Gujarat Gas Company Ltd Gas 0.94SBI Life Insurance Company Ltd Finance 0.94APL Apollo Tubes Limited Ferrous Metals 0.91Solar Industries India Limited Chemicals 0.91Tata Consultancy Services Ltd. Software 0.81Edelweiss Financial Services Ltd Finance 0.76Bharat Forge Ltd. Industrial Products 0.74Persistent Systems Limited Software 0.72Laurus Labs Ltd Pharmaceuticals 0.69

HDFC Standard LifeInsurance Company Ltd Finance 0.64Kajaria Ceramics Ltd. Construction 0.64Kirloskar Oil Engines Ltd. Industrial Products 0.63Punjab National Bank Banks 0.54Bharat Earth Movers Ltd. Industrial Capital Goods 0.53JMC Projects (India) Ltd Construction 0.52Vedanta Ltd. Non - Ferrous Metals 0.52Future Supply ChainSolutions Ltd Retailing 0.51Apollo Hospitals Enterprises Ltd. Healthcare Services 0.48Bharti Airtel Ltd. Telecom - Services 0.46Mcleod Russel India Ltd Consumer Non Durables 0.44Mahindra & MahindraFinancial Services Ltd. Finance 0.36Galaxy Surfactants Ltd Chemicals 0.33MRF Limited Auto Ancillaries 0.32Jubilant Foodworks Limited Consumer Non Durables 0.29HDFC Ltd. Warrants Finance 0.22Industrial DevelopmentBank of India Ltd. Banks 0.13Listed/Awaiting Listing on Stock Exchange - Total 69.91Debt Instruments Debentures and Bonds Corporate Debt/Financial InstitutionsLIC Housing Finance Ltd. CRISIL AAA 0.02Corporate Debt/Financial Institutions - Total 0.02Public Sector Undertakings Allahabad Bank FITCH IND A 3.41United Bank Of India CRISIL AA- 3.20U P Power Corporation Ltd( Guaranteed By UPState Government ) CRISIL A+(SO) 1.92Punjab & Sind Bank ICRA A+ 1.59Vijaya Bank ICRA AA- 1.37Syndicate Bank CARE AA- 1.00Public Sector Undertakings - Total 12.49Government Dated Securities 7.17% Central Government SOV 6.686.68% Central Government SOV 4.366.79% Central Government SOV 1.467.7% State Government SOV 0.318.45% State Government SOV 0.098.27% State Government SOV 0.048.29% State Government SOV 0.038.43% State Government SOV 0.01Government Dated Securities - Total 12.98TERM DEPOSITS AXIS Bank Ltd. 0.38Term Deposits - Total 0.38Collateral Borrowing & Lending obligation 3.40Net Current Assets/(Liabilities) 0.82Grand Total 100.00

Scheme Inception : - November 25,1999. The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day of every month. XIRR `helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200, PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006$ The existing benchmark "CRISIL Balanced Fund" has been renamed as "CRISIL Hybrid 35+65 - Aggressive Index" as per communication received from CRISILKotak Balance NAV as on February 28, 2018: `16.598 (Dividend Option), `18.024 (Direct Dividend Option), `24.260 (Growth Option) ̀ 25.842 (Direct Growth Option)


Style


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


balanced with income generation by investing in debt & money market instruments


Product Label


Large

Mid

Small



13

0.26

10.64%

$Sharpe##

$Standard Deviation

33.39%

1.13

Portfolio Turnover

$Beta





Scheme Returns (%)

CRISIL Hybrid 35+65 - Aggressive Index( )# ` $

CRISIL Hybrid 35+65 - Aggressive Index Returns (%) $




Folio Count: 50,715


1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 22,00,000

1,25,028 4,32,803 8,32,115 13,30,897 22,62,624 10,249,848

7.93 12.37 13.06 12.93 12.19 14.93

1,25,686 4,33,098 8,33,387 13,27,459 22,50,673 NA

8.99 12.42 13.12 12.86 12.09 NA

1,28,532 4,43,007 8,40,670 13,45,528 23,00,575 10,219,329

13.57 13.99 13.48 13.24 12.50 14.90

15.11 12.98 12.51 7.07 5.55 5.39 5.15 4.403.78

3.26 24.80

Banks Government Dated Securities Debentures and Bonds Auto

Finance Consumer Non Durables Cement Industrial Products

CBLO & Term Deposits & Rev.Repo Software Others

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and by investing the balance in debt and money market instruments. However, there is no assurance that the objective of the scheme will be realized.

Available Plans/OptionsA) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend FrequencyFortnightly (Every alternate Monday from the 1st record date), Monthly (Monday preceding the last Thursday of the month), Bimonthly (Monday preceding the last Thursday of the following months - January, March, May, July, September, November)

Ratios

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

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

Total Expense Ratio**Regular: 0.90%; Direct: 0.44%

7

Benchmark: Nifty 50 ArbitrageFund Manager: Mr. Deepak Gupta*

AAUM: `14,701.75 crs AUM: `14,743.68 crs

Allotment date: September 29, 2005KOTAK EQUITY ARBITRAGE


Investment Style


Large

Mid

Small

Style

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

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)HedgedIndiabulls Housing Finance Ltd. Finance 2.72 -2.73Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 2.18 -2.19Titan Company Ltd. Consumer Durables 1.89 -1.90Bharti Airtel Ltd. Telecom - Services 1.80 -1.81UPL Ltd Pesticides 1.41 -1.42Aurobindo Pharma Ltd. Pharmaceuticals 1.14 -1.14Tata Steel Limited. Ferrous Metals 1.10 -1.10Lupin Ltd. Pharmaceuticals 1.04 -1.05United Spirits Ltd. Consumer Non Durables 1.00 -1.01Bajaj Finance Limited Finance 0.99 -1.00JSW Steel Ltd. Ferrous Metals 0.98 -0.99Ashok Leyland Ltd. Auto 0.93 -0.93Bank Of Baroda Banks 0.81 -0.81State Bank Of India Banks 0.77 -0.77LIC Housing Finance Ltd. Finance 0.76 -0.77Eicher Motors Ltd Auto 0.73 -0.73Tata Global Beverages Limited Consumer Non Durables 0.73 -0.74Maruti Suzuki India Limited Auto 0.70 -0.71Tata Power Co. Ltd. Power 0.68 -0.68Hindalco Industries Ltd Non - Ferrous Metals 0.66 -0.66Idea Cellular Ltd. Telecom - Services 0.65 -0.65Tata Motors Ltd - DVR Auto 0.64 -0.64Punjab National Bank Banks 0.62 -0.62MRF Limited Auto Ancillaries 0.60 -0.61Power Finance Corporation Ltd. Finance 0.58 -0.58Jindal Steel & Power Ltd. Ferrous Metals 0.57 -0.58Steel Authority of India Ltd. Ferrous Metals 0.57 -0.57Dewan Housing Finance Corporation Ltd. Finance 0.56 -0.56Tata Chemicals Ltd. Chemicals 0.56 -0.57DLF Limited Construction 0.54 -0.54IDFC Limited Finance 0.54 -0.54Federal Bank Ltd. Banks 0.51 -0.51L&T Finance Holdings Ltd Finance 0.50 -0.51Jubilant Foodworks Limited Consumer Non Durables 0.46 -0.46RBL Bank Ltd Banks 0.46 -0.46Tata Motors Ltd. Auto 0.46 -0.46IDFC Bank Limited Banks 0.45 -0.45Shriram Transport Finance Co Ltd. Finance 0.45 -0.45Tata Steel Limited (Partly Paid Shares) Ferrous Metals 0.45 -0.45Hindustan Zinc Ltd. Non - Ferrous Metals 0.44 -0.43CESC Ltd. Power 0.43 -0.43Havells India Ltd. Consumer Durables 0.42 -0.43Bajaj Finserv Ltd. Finance 0.41 -0.42Marico Ltd. Consumer Non Durables 0.39 -0.40Mahindra & Mahindra Financial Services Ltd. Finance 0.38 -0.38ITC Ltd. Consumer Non Durables 0.37 -0.37Power Grid Corporation Of India Ltd Power 0.37 -0.37Nestle India Ltd. Consumer Non Durables 0.36 -0.36Suzlon Energy Ltd. Industrial Capital Goods 0.36 -0.36Canara Bank Banks 0.35 -0.35Fortis Healthcare India Ltd Healthcare Services 0.35 -0.35Reliance Infrastructure Ltd Power 0.34 -0.34Infosys Ltd. Software 0.33 -0.33Britannia Industries Ltd. Consumer Non Durables 0.32 -0.32Dabur India Ltd Consumer Non Durables 0.32 -0.32Reliance Capital Ltd. Finance 0.32 -0.32ICICI Prudential Life Insurance Company Ltd Finance 0.31 -0.31Indraprastha Gas Ltd. Gas 0.31 -0.31Kajaria Ceramics Ltd. Construction 0.30 -0.30Castrol (India ) Ltd. Petroleum Products 0.29 -0.29Exide Industries Ltd Auto Ancillaries 0.29 -0.29Grasim Industries Ltd. Cement 0.29 -0.29Motherson Sumi Systems Ltd. Auto Ancillaries 0.29 -0.29NCC Limited Construction Project 0.29 -0.29Adani Port and Special Economic Zone Limited Transportation 0.28 -0.28Axis Bank Ltd Banks 0.28 -0.28Cipla Ltd. Pharmaceuticals 0.28 -0.28Strides Shasun Ltd. Pharmaceuticals 0.28 -0.28Tata Communications Ltd Telecom - Services 0.28 -0.29Bata India Ltd. Consumer Durables 0.27 -0.27GMR Infrastructure Ltd. Construction Project 0.27 -0.27The South Indian Bank Ltd. Banks 0.27 -0.27Voltas Ltd. Construction Project 0.27 -0.27Jet Airways (India) Ltd. Transportation 0.26 -0.26National Aluminium Company Ltd Non - Ferrous Metals 0.26 -0.26Union Bank Of India Banks 0.26 -0.26Can Fin Homes Ltd. Finance 0.25 -0.25

PORTFOLIO

Short Medium Long Volatility

Low

Medium

High

Maturity

Investors understand that their principal will be at moderately low risk

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

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

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

Riskometer

Product Label

338.43%

0.39

0.67

0.42%

Portfolio Turnover

$Beta

$Sharpe##

$Standard Deviation

14



Folio Count: 21,614

7

KOTAK EQUITY ARBITRAGEAn Open - Ended Equity Growth Scheme


PORTFOLIO

Capital First Ltd Finance 0.25 -0.25Dalmia Bharat Ltd. Cement 0.25 -0.25Dr Reddys Laboratories Ltd Pharmaceuticals 0.25 -0.25Mahindra & Mahindra Ltd. Auto 0.25 -0.25NMDC Ltd. Minerals/Mining 0.25 -0.25Equitas Holdings Ltd Finance 0.24 -0.24Industrial Development Bank of India Ltd. Banks 0.24 -0.24Adani Enterprises Ltd Trading 0.23 -0.23Adani Power Ltd Power 0.23 -0.23Cadila Healthcare Ltd. Pharmaceuticals 0.23 -0.24Century Textiles & Industries Ltd. Cement 0.22 -0.22Vedanta Ltd. Non - Ferrous Metals 0.22 -0.22HDFC Ltd. Finance 0.21 -0.21IRB Infrastructure Developers Ltd Construction 0.21 -0.22KPIT Technologies LImited Software 0.21 -0.21National Buildings Construction Corporation Limited Construction 0.21 -0.22Wipro Ltd. Software 0.21 -0.21Karnataka Bank Ltd Banks 0.20 -0.21Yes Bank Ltd Banks 0.20 -0.20Container Corporation of India Ltd. Transportation 0.19 -0.19Development Credit Bank Ltd. Banks 0.19 -0.19Raymond Limited Textile Products 0.19 -0.19Tata Consultancy Services Ltd. Software 0.19 -0.19Tata Elxsi Ltd. Software 0.19 -0.20Indian Bank Banks 0.18 -0.18SRF Ltd. Textile Products 0.18 -0.18CEAT Ltd. Auto Ancillaries 0.17 -0.17India Cements Ltd. Cement 0.17 -0.17Jaiprakash Associates Ltd Cement 0.17 -0.17NIIT Technologies Ltd Software 0.17 -0.17Ujjivan Financial Services Ltd Finance 0.17 -0.17Godrej Industries Ltd Consumer Non Durables 0.16 -0.16HCL Technologies Ltd. Software 0.16 -0.17Reliance Power Ltd Power 0.16 -0.16Zee Entertainment Enterprises Ltd Media and Entertainment 0.16 -0.17PC Jeweller Ltd Consumer Durables 0.15 -0.15Pidilite Industries Ltd. Chemicals 0.15 -0.15PTC India Ltd. Power 0.15 -0.15PVR Ltd Media and Entertainment 0.15 -0.15Jain Irrigation Systems Ltd. Industrial Products 0.14 -0.14Muthoot Finance Ltd Finance 0.14 -0.14Shree Cement Ltd. Cement 0.14 -0.14Syndicate Bank Banks 0.14 -0.14Gujarat State Fertilizers & Chemicals Ltd. Fertilisers 0.13 -0.13Oracle Financial Services Software Ltd Software 0.13 -0.13Reliance Naval and Engineering Limited Industrial Capital Goods 0.13 -0.13Repco Home Finance Limited. Finance 0.13 -0.13Siemens Ltd. Industrial Capital Goods 0.13 -0.13Wockhardt Ltd. Pharmaceuticals 0.13 -0.13Ajanta Pharma Ltd. Pharmaceuticals 0.12 -0.12Bharat Electronics Ltd Industrial Capital Goods 0.12 -0.12Dish TV India Ltd. Media and Entertainment 0.12 -0.12Torrent Power Ltd Power 0.12 -0.12Bharat Earth Movers Ltd. Industrial Capital Goods 0.11 -0.11Chennai Petroleum Corporation Ltd Petroleum Products 0.11 -0.11Escorts Ltd. Auto 0.11 -0.11Just Dial Limited Software 0.11 -0.11Mahanagar Gas Ltd Gas 0.11 -0.11Amara Raja Batteries Ltd. Auto Ancillaries 0.10 -0.10Apollo Tyres Ltd. Auto Ancillaries 0.10 -0.10Asian Paints Ltd. Consumer Non Durables 0.10 -0.10Piramal Enterprises Limited Pharmaceuticals 0.10 -0.10Balkrishna Industries Ltd Auto Ancillaries 0.09 -0.09Godrej Consumer Products Ltd. Consumer Non Durables 0.09 -0.09Kaveri Seed Company Ltd. Consumer Non Durables 0.09 -0.09SREI Infrastructure Finance Ltd Finance 0.09 -0.09Tech Mahindra Ltd. Software 0.09 -0.09Granules India Ltd. Pharmaceuticals 0.08 -0.08Manappuram Finance Ltd Finance 0.08 -0.08Petronet LNG Ltd. Gas 0.08 -0.08Andhra Bank Banks 0.07 -0.07Godfrey Phillips India Ltd. Consumer Non Durables 0.07 -0.07Housing Development and Infrastructure Limited Construction 0.07 -0.07TV18 Broadcast Ltd Media and Entertainment 0.07 -0.07Allahabad Bank. Banks 0.06 -0.06Bharat Forge Ltd. Industrial Products 0.06 -0.06CG Power and Industrial Solutions Limited Industrial Capital Goods 0.06 -0.06Cummins India Ltd. Industrial Products 0.06 -0.06Hindustan Construction Co.Ltd Construction Project 0.06 -0.06

15


KOTAK EQUITY ARBITRAGEAn Open - Ended Equity Growth Scheme


PORTFOLIO

Hindustan Unilever Ltd. Consumer Non Durables 0.06 -0.06IFCI Ltd. Finance 0.06 -0.07ACC Ltd. Cement 0.05 -0.05Larsen And Toubro Ltd. Construction Project 0.05 -0.05Mangalore Refinery And Petrochemicals Ltd. Petroleum Products 0.05 -0.05Ambuja Cements Ltd Cement 0.04 -0.04Berger Paints (I) Ltd. Consumer Non Durables 0.04 -0.04Divi s Laboratories Limited Pharmaceuticals 0.04 -0.04Max Financial Services Ltd. Finance 0.04 -0.04Oriental Bank of Commerce Banks 0.04 -0.04Reliance Industries Ltd. Petroleum Products 0.04 -0.04Bajaj Auto Ltd. Auto 0.03 -0.03Balrampur Chini Mills Ltd Consumer Non Durables 0.03 -0.03Bharat Heavy Electricals Ltd. Industrial Capital Goods 0.03 -0.03Coal India Ltd. Minerals/Mining 0.03 -0.03Glenmark Pharmaceuticals Ltd Pharmaceuticals 0.03 -0.03ICICI Bank Ltd. Banks 0.03 -0.03Infibeam Incorporation Ltd Software 0.03 -0.03Rural Electrification Corporation Ltd Finance 0.03 -0.03Hero MotoCorp Ltd. Auto 0.02 -0.02Bosch Limited Auto Ancillaries 0.01 -0.01Engineers India Ltd. Construction Project 0.01 -0.01MindTree Ltd. Software 0.01 -0.01Page Industries Ltd Textile Products 0.01 -0.01Reliance Communications Ltd. Telecom - Services 0.01 -0.01Sun TV Limited. Media and Entertainment 0.01 -0.01Hedged - Total 57.91 -58.18Listed/Awaiting Listing on Stock Exchange - Total 57.91 -58.18Mutual Fund Units Kotak Floater Short Term Direct Growth Mutual Fund Units 16.48 Kotak Corporate Bond Fund Direct Growth Mutual Fund Units 0.36 Mutual Fund Units - Total 16.84 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Kotak Mahindra Prime Ltd. CRISIL AAA 2.41 HDFC Ltd. CRISIL AAA 2.27 Indiabulls Housing Finance Ltd. ICRA AAA 1.35 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 0.68 ICICI Home Finance Company Limited ICRA AAA 0.42 Shriram Transport Finance Co Ltd. FITCH IND AA+ 0.36 Corporate Debt/Financial Institutions - Total 7.49 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions HDFC Ltd. CRISIL A1+ 1.33 Corporate Debt/Financial Institutions - Total 1.33 TERM DEPOSITS HDFC Bank Ltd. 6.36 AXIS Bank Ltd. 5.63 IDFC Bank Limited 1.02 IndusInd Bank Ltd. 0.56 Term Deposits - Total 13.57 Collateral Borrowing & Lending obligation 0.19 Net Current Assets/(Liabilities) 2.67 Grand Total 100.00

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

Kotak Equity Arbitrage NAV as on February 28, 2018: ̀ 10.7425 (Monthly Dividend Option), ̀ 20.2833 (Direct monthly Dividend Option), `24.7259 (Growth Option), ̀ 25.3628 (Direct Growth Option), ̀ 20.0827 (Bimonthly Option), ̀ 20.2833 (Direct Bimonthly Option), ̀ 23.2482 (Fortnightly Dividend, ̀ 23.7299 (Direct Fortnightly Dividend)


16

The art is not in making money, but in keeping it.


3.67

16.84 13.76 10.21 7.49 6.13 5.90 4.59 3.87 2.74 24.80

Mutual Fund Units CBLO & Term Deposits & Rev.Repo Finance Debentures and Bonds

Banks Pharmaceuticals Consumer Non Durables Auto

Ferrous Metals Telecom - Services Others

Investment ObjectiveThe investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and enhance returns with a moderate exposure in equity & equity related instruments. However, there is no assurance that the objective of the scheme will be realized.Available Plans/OptionsA) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend FrequencyMonthly (12th of every month) Quarterly (20th of March, June, September and December of every year)Ratios

Source: $ICRA MFI Explorer. Minimum Investment AmountInitial Investment: `5000 and in multiple of `1 for purchase and for ̀ 0.01 for switchesAdditional Investment: `1000 & in multiples of `1 for purchase and for `0.01 for switchesIdeal Investments Horizon: 3 years & aboveLoad StructureEntry Load: Nil.Exit Load:a) For redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil. b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%.c) If units are redeemed or switched out on or after 1 year from the date of allotment: Nil.Total Expense Ratio**Regular: 1.89%; Direct: 1.35%

7

Benchmark: 75% of Nifty 50 Arbitrage index and 25% in Nifty 50

Fund Manager: Mr. Deepak Gupta &

Mr. Abhishek Bisen*

AAUM: `1,738.21 crs

AUM: `1,799.98 crsAllotment date: October 13, 2014

KOTAK EQUITY SAVINGS FUNDAn Open Ended Equity Fund

118.31%Portfolio Turnover

Investment Style

Style


PORTFOLIO

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



Large

Mid

Small


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Product Label

17


Short Medium Long VolatilityLow

Medium

High

Maturity

0.52

3.28%

$Sharpe##

$Standard Deviation

0.92$Beta


Folio Count: 14,078

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Non-Hedged Reliance Industries Ltd. Petroleum Products 1.37 Hindustan Unilever Ltd. Consumer Non Durables 1.20 Maruti Suzuki India Limited Auto 1.20 HDFC Ltd. Warrants Finance 1.00 HDFC Ltd. Finance -0.65Bajaj Finance Limited Finance 0.96 Bharti Airtel Ltd. Telecom - Services 0.93 Motherson Sumi Systems Ltd. Auto Ancillaries 0.86 CNX NIFTY-MAR2018 0.85ITC Ltd. Consumer Non Durables 0.78 Infosys Ltd. Software 0.64 Tata Consultancy Services Ltd. Software 0.59 Power Grid Corporation Of India Ltd Power 0.53 Titan Company Ltd. Consumer Durables 0.50 Zee Entertainment Enterprises Ltd Media and Entertainment 0.49 Britannia Industries Ltd. Consumer Non Durables 0.48 0.02Tata Steel Limited. Ferrous Metals 0.47 Hindalco Industries Ltd Non - Ferrous Metals 0.46 Yes Bank Ltd Banks 0.42 Dr Reddys Laboratories Ltd Pharmaceuticals 0.41 GAIL (India) Ltd. Gas 0.40 Granules India Ltd. Pharmaceuticals 0.39 Biocon Ltd. Pharmaceuticals 0.38 Petronet LNG Ltd. Gas 0.38 Varun Beverages Ltd Consumer Non Durables 0.36 National Thermal Power Corporation Limited Power 0.35 Tata Steel Limited (Partly Paid Shares) Ferrous Metals 0.35 RBL Bank Ltd Banks 0.33 0.01Dabur India Ltd-MAR2018 -0.33Bharat Financial Inclusion Limited Finance 0.30 Eris Lifesciences Ltd Pharmaceuticals 0.29 Hero MotoCorp Ltd. Auto 0.28 Jindal Steel & Power Ltd. Ferrous Metals 0.26 HDFC Bank Ltd. Banks 0.25 0.93Mahindra & Mahindra Ltd. Auto 0.25 Bharat Earth Movers Ltd. Industrial Capital Goods 0.22 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.22 Laurus Labs Ltd Pharmaceuticals 0.22 Larsen And Toubro Ltd. Construction Project 0.21 Axis Bank Ltd Banks 0.19 Bharat Petroleum Corporation Ltd. Petroleum Products 0.19 United Spirits Ltd. Consumer Non Durables 0.19 JSW Steel Ltd. Ferrous Metals 0.18 Sun TV Limited. Media and Entertainment 0.18 Federal Bank Ltd. Banks 0.17 Grasim Industries Ltd. Cement 0.17 The Ramco Cements Ltd Cement 0.17 Vedanta Ltd. Non - Ferrous Metals 0.17 Godfrey Phillips India Ltd. Consumer Non Durables 0.15 Strides Shasun Ltd. Pharmaceuticals 0.14 Indraprastha Gas Ltd. Gas 0.13 L&T Finance Holdings Ltd Finance 0.13 Bajaj Finserv Ltd. Finance 0.12 Eicher Motors Ltd Auto 0.12 Shriram Transport Finance Co Ltd. Finance 0.12 AU Small Finance Bank Ltd. Banks 0.11 Cochin Shipyard Ltd Industrial Capital Goods 0.11 Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.11 HCL Technologies Ltd. Software 0.11 ICICI Bank Ltd. Banks 0.11 Muthoot Finance Ltd Finance 0.11 Apollo Micro Systems Ltd Industrial Capital Goods 0.10 Galaxy Surfactants Ltd Chemicals 0.10 Indian Oil Corporation Ltd Petroleum Products 0.10 Dixon Technologies India Ltd Consumer Durables 0.09 Prataap Snacks Ltd Consumer Non Durables 0.09 Edelweiss Financial Services Ltd Finance 0.08 Godrej Agrovet Ltd Consumer Non Durables 0.08 HDFC Standard Life Insurance Company Ltd Finance 0.08 Oil & Natural Gas Corporation Ltd. Oil 0.08 Aditya Birla Capital Ltd Finance 0.07 Housing & Urban Development Corporation Ltd Finance 0.06 SBI Life Insurance Company Ltd Finance 0.06 Tech Mahindra Ltd. Software 0.05 Central Depository Services (India) Ltd Finance 0.04 Kesoram Industries Limited Auto Ancillaries 0.04 Chennai Super Kings Cricket Ltd. Media and Entertainment 0.01 IndusInd Bank Ltd. Banks 0.01 0.53Non-Hedged- Total 23.05 1.36Hedged Fortis Healthcare India Ltd Healthcare Services 2.36 -2.36GMR Infrastructure Ltd. Construction Project 2.27 -2.28Jindal Steel & Power Ltd. Ferrous Metals 2.26 -2.26Indiabulls Housing Finance Ltd. Finance 2.14 -2.15Reliance Capital Ltd. Finance 1.30 -1.31Capital First Ltd Finance 1.16 -1.17DLF Limited Construction 1.16 -1.16PC Jeweller Ltd Consumer Durables 1.13 -1.14Polaris Consulting & Services Ltd Software 1.01 Aurobindo Pharma Ltd. Pharmaceuticals 0.94 -0.94Tata Steel Limited. Ferrous Metals 0.94 -0.94OCL India Ltd Cement 0.92 Dalmia Bharat Ltd. Cement -0.99Ujjivan Financial Services Ltd Finance 0.88 -0.88Suzlon Energy Ltd. Industrial Capital Goods 0.84 -0.85Equitas Holdings Ltd Finance 0.83 -0.83

7


PORTFOLIO


18


Union Bank Of India Banks 0.83 -0.83IDFC Bank Limited Banks 0.76 -0.76Granules India Ltd. Pharmaceuticals 0.75 -0.75HDFC Ltd. Finance 0.75 -0.75Ashok Leyland Ltd. Auto 0.71 -0.71Bajaj Finance Limited Finance 0.69 -0.69Raymond Limited Textile Products 0.65 -0.65Gujarat State Fertilizers & Chemicals Ltd. Fertilisers 0.64 -0.65Lupin Ltd. Pharmaceuticals 0.59 -0.60The South Indian Bank Ltd. Banks 0.59 -0.60Jain Irrigation Systems Ltd. Industrial Products 0.58 -0.59IDFC Limited Finance 0.56 -0.56Jaiprakash Associates Ltd Cement 0.54 -0.54Tata Global Beverages Limited Consumer Non Durables 0.48 -0.48NCC Limited Construction Project 0.40 -0.41Godfrey Phillips India Ltd. Consumer Non Durables 0.33 -0.33Can Fin Homes Ltd. Finance 0.32 -0.32Adani Power Ltd Power 0.30 -0.30Jet Airways (India) Ltd. Transportation 0.30 -0.30Kaveri Seed Company Ltd. Consumer Non Durables 0.29 -0.29Century Textiles & Industries Ltd. Cement 0.28 -0.28Strides Shasun Ltd. Pharmaceuticals 0.28 -0.28UPL Ltd Pesticides 0.24 -0.24National Aluminium Company Ltd Non - Ferrous Metals 0.23 -0.24Asian Paints Ltd. Consumer Non Durables 0.22 -0.22Bharti Airtel Ltd. Telecom - Services 0.22 -0.22Titan Company Ltd. Consumer Durables 0.22 -0.22CESC Ltd. Power 0.21 -0.21Dewan Housing Finance Corporation Ltd. Finance 0.20 -0.20SREI Infrastructure Finance Ltd Finance 0.20 -0.20Federal Bank Ltd. Banks 0.19 -0.19ITC Ltd. Consumer Non Durables 0.18 -0.18Power Finance Corporation Ltd. Finance 0.18 -0.18PTC India Ltd. Power 0.18 -0.18Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.18 -0.18Bata India Ltd. Consumer Durables 0.17 -0.17Tata Chemicals Ltd. Chemicals 0.17 -0.17Amara Raja Batteries Ltd. Auto Ancillaries 0.16 -0.16Housing Development and Infrastructure Limited Construction 0.16 -0.17Piramal Enterprises Limited Pharmaceuticals 0.16 -0.16Indian Bank Banks 0.15 -0.15Mahanagar Gas Ltd Gas 0.15 -0.15Chennai Petroleum Corporation Ltd Petroleum Products 0.14 -0.14Reliance Infrastructure Ltd Power 0.14 -0.14Kajaria Ceramics Ltd. Construction 0.13 -0.13Shriram Transport Finance Co Ltd. Finance 0.13 -0.13SRF Ltd. Textile Products 0.13 -0.13Steel Authority of India Ltd. Ferrous Metals 0.13 -0.13Dr Reddys Laboratories Ltd Pharmaceuticals 0.12 -0.12Manappuram Finance Ltd Finance 0.12 -0.12Wockhardt Ltd. Pharmaceuticals 0.11 -0.11Punjab National Bank Banks 0.10 -0.10CEAT Ltd. Auto Ancillaries 0.09 -0.09Indraprastha Gas Ltd. Gas 0.09 -0.09Mahindra & Mahindra Ltd. Auto 0.09 -0.09Reliance Communications Ltd. Telecom - Services 0.09 -0.09Hindustan Construction Co.Ltd Construction Project 0.08 -0.08Reliance Naval and Engineering Limited Industrial Capital Goods 0.08 -0.08Reliance Power Ltd Power 0.08 -0.08Vedanta Ltd. Non - Ferrous Metals 0.08 -0.08Dish TV India Ltd. Media and Entertainment 0.07 -0.07Idea Cellular Ltd. Telecom - Services 0.07 -0.07IFCI Ltd. Finance 0.07 -0.07Tata Communications Ltd Telecom - Services 0.07 -0.07Axis Bank Ltd Banks 0.06 -0.06Bank Of Baroda Banks 0.06 -0.06Castrol (India ) Ltd. Petroleum Products 0.06 -0.06CG Power and Industrial Solutions Limited Industrial Capital Goods 0.06 -0.06State Bank Of India Banks 0.06 -0.06Syndicate Bank Banks 0.06 -0.06IRB Infrastructure Developers Ltd Construction 0.05 -0.05Maruti Suzuki India Limited Auto 0.05 -0.05Tata Consultancy Services Ltd. Software 0.05 -0.05TV18 Broadcast Ltd Media and Entertainment 0.05 -0.05United Spirits Ltd. Consumer Non Durables 0.05 -0.05Godrej Industries Ltd Consumer Non Durables 0.04 -0.04Grasim Industries Ltd. Cement 0.04 -0.04India Cements Ltd. Cement 0.04 -0.04LIC Housing Finance Ltd. Finance 0.04 -0.04Max Financial Services Ltd. Finance 0.04 -0.04Yes Bank Ltd Banks 0.04 -0.04Balrampur Chini Mills Ltd Consumer Non Durables 0.03 -0.03Exide Industries Ltd Auto Ancillaries 0.03 -0.03Hindustan Unilever Ltd. Consumer Non Durables 0.03 -0.03Industrial Development Bank of India Ltd. Banks 0.03 -0.03Karnataka Bank Ltd Banks 0.03 -0.03KPIT Technologies LImited Software 0.03 -0.03Mahindra & Mahindra Financial Services Ltd. Finance 0.03 -0.03Mangalore Refinery And Petrochemicals Ltd. Petroleum Products 0.03 -0.03Siemens Ltd. Industrial Capital Goods 0.03 -0.03Bajaj Finserv Ltd. Finance 0.02 -0.02Cummins India Ltd. Industrial Products 0.02 -0.02Dalmia Bharat Ltd. Cement 0.02 -0.02

7


19



Those who are unwilling to invest in the future haven't earned one �H.W. Lewis


Scheme Inception : - October 13, 2014. The returns are calculated by XIRR approach assuming investment of 10,000/- on the 1st working day `of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ̂ Additional BenchmarkTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).





Scheme Returns (%)

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

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



1 year 3 years Since Inception

1,20,000 3,60,000 4,10,000

1,25,183 4,12,380 4,77,179

8.18 9.05 8.88

1,24,181 4,02,395 4,64,435

6.58 7.39 7.27

1,28,532 4,43,007 5,08,274

13.57 13.99 12.67


PORTFOLIO

Kotak Equity Savings Fund NAV as on February 28, 2018: `13.2968 (Growth Option), `11.2710 (Monthly Dividend Option), `11.2714 (Quarterly Dividend Option), ̀ 13.6094 (Direct Growth Option), ̀ 11.5240 (Direct Monthly Dividend Option), `11.3771 (Direct Quarterly Dividend Option)

Note: # Term Deposit as provided above is towards margin for derivatives transactionsNote: Polaris Consulting & Services Ltd is going to get compulsorily delisted and the offer price is INR 480 and the company is under obligation to accept 100% of the shares tendered to them. Hence, the delisting offer by the company is treated as the hedge for the cash holding.

Jubilant Foodworks Limited Consumer Non Durables 0.02 -0.02Marico Ltd. Consumer Non Durables 0.02 -0.02NIIT Technologies Ltd Software 0.02 -0.02Tata Elxsi Ltd. Software 0.02 -0.02Tata Motors Ltd - DVR Auto 0.02 -0.02Tata Power Co. Ltd. Power 0.02 -0.02Tech Mahindra Ltd. Software 0.02 -0.02Ajanta Pharma Ltd. Pharmaceuticals 0.01 -0.01Bharat Electronics Ltd Industrial Capital Goods 0.01 -0.01Cipla Ltd. Pharmaceuticals 0.01 -0.01Development Credit Bank Ltd. Banks 0.01 -0.01Engineers India Ltd. Construction Project 0.01 -0.01Havells India Ltd. Consumer Durables 0.01 -0.01Hindustan Zinc Ltd. Non - Ferrous Metals 0.01 -0.01Muthoot Finance Ltd Finance 0.01 -0.01National Buildings Construction Corporation Limited Construction 0.01 -0.01Petronet LNG Ltd. Gas 0.01 -0.01Power Grid Corporation Of India Ltd Power 0.01 -0.01Tata Motors Ltd. Auto 0.01 -0.01Torrent Power Ltd Power 0.01 -0.01Hedged - Total 39.19 -38.38Listed/Awaiting Listing on Stock Exchange - Total 62.24 -37.02Preference Shares Listed/Awaiting listing on Stock Exchange 7.5% Vedanta Reedemable Preference Shares Non - Ferrous Metals 0.90 Listed/Awaiting listing on Stock Exchange - Total 0.90 Mutual Fund Units Kotak Floater Short Term Direct Growth Mutual Fund Units 19.17 Mutual Fund Units - Total 19.17 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions AXIS Bank Ltd. CRISIL AA+ 2.72 Corporate Debt/Financial Institutions - Total 2.72 Government Dated Securities 8.53% State Government SOV 0.28 Government Dated Securities - Total 0.28 TERM DEPOSITS AXIS Bank Ltd.# 7.22 HDFC Bank Ltd.# 4.84 Standard Chartered Bank Ltd 0.04 Term Deposits - Total 12.10 Collateral Borrowing & Lending obligation 1.12 Net Current Assets/(Liabilities) 1.47 Grand Total 100.00

19.17 13.22 12.81 5.33 4.96 4.59

4.56

2.97

2.73

2.72 26.94

Mutual Fund Units CBLO & Term Deposits & Rev.Repo Finance Consumer Non Durables

Pharmaceuticals Ferrous Metals Banks Construction Project Auto Debentures and Bonds Others


The investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity & equity re lated instruments across market capitalisation and sectors. However, there is no assurance that the objective of the scheme will be realized.



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

Dividend Frequency


Ratios



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

Load Structure


Exit Load: Nil. (applicable for all plans)



7

Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


* For Fund Manager experience, please refer page 53-54. For last three dividends, please refer page no 55-57. For scheme performance, please refer **Total Expense Ratio excludes applicable B15 fee and service tax.page no 44-52

PORTFOLIO

Benchmark: Nifty 200Fund Manager: Mr. Harish Krishnan*

AAUM: `468.00 crs AUM: `462.45 crs

Allotment date: May 06, 2015KOTAK INDIA GROWTH FUND SERIES I

3 years Close- Ended Equity Scheme

59.79%Portfolio Turnover

Investment Style

Equity & Equity related (Listed/Awaiting listing on Stock

Exchange) HDFC Bank Ltd. Banks 8.35ICICI Bank Ltd. Banks 7.45Reliance Industries Ltd. Petroleum Products 7.33IndusInd Bank Ltd. Banks 5.82ITC Ltd. Consumer Non Durables 5.01Maruti Suzuki India Limited Auto 4.59Larsen And Toubro Ltd. Construction Project 4.50Motherson Sumi Systems Ltd. Auto Ancillaries 4.28Shree Cement Ltd. Cement 4.22Britannia Industries Ltd. Consumer Non Durables 3.89Persistent Systems Limited Software 3.70GAIL (India) Ltd. Gas 3.36RBL Bank Ltd Banks 3.18Zee EntertainmentEnterprises Ltd Media and Entertainment 3.18Laurus Labs Ltd Pharmaceuticals 3.06Sun TV Limited. Media and Entertainment 3.05Punjab National Bank Banks 2.95Mahindra & Mahindra Ltd. Auto 2.91Cadila Healthcare Ltd. Pharmaceuticals 2.84

ICICI Lombard GeneralInsurance Company Ltd Finance 2.75Kajaria Ceramics Ltd. Construction 2.49Bharat Earth Movers Ltd. Industrial Capital Goods 2.40Bharat PetroleumCorporation Ltd. Petroleum Products 2.09OCL India Ltd Cement 1.60Entertainment Network(India) Ltd. Media and Entertainment 1.55HDFC Standard LifeInsurance Company Ltd Finance 1.20Godrej Agrovet Ltd Consumer Non Durables 0.98Listed/Awaiting Listing on Stock Exchange - Total 98.73Futures IndusInd Bank Ltd.-MAR2018 -0.74Futures (Market value represents Notional Value) - Total -0.74TERM DEPOSITS AXIS Bank Ltd. 0.43Term Deposits - Total 0.43Collateral Borrowing & Lending obligation 1.83Net Current Assets/(Liabilities) -0.25Grand Total 100.00

Kotak India Growth Fund Series I NAV as on February 28, 2018: `13.0877 (Dividend Option), `13.2834 (Direct Dividend Option), `13.0877 (Growth Option), ̀ 13.2834 (Direct Growth Option)


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

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

Style


Large

Mid

Small



It's never too early to encourage long term savings � Ron Lewis

20

(As on February 28, 2018)Folio Count: 1,604

32.00

30.95

12.88

14.38

9.32

11.79

12.06

9.88

0.86

7.78

3.92

6.99

4.96

5.89

2.23

4.22

10.01

3.70

1.58

2.40

Benchmark

Scheme

Financial Services Energy Automobile Consumer Goods

Media & Entertainment Construction Pharma Cement & Cement Products

Information Technology Industrial Manufacturing



* For Fund Manager experience, please refer page 53-54. For scheme performance, please refer page no 44-52 **Total Expense Ratio excludes applicable B15 fee and service tax.

Benchmark: CRISIL Liquid Fund

Fund Manager: AAUM: AUM:

Allotment date: November 4, 2003

KOTAK LIQUIDAn Open - Ended Debt Scheme


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. However, there is no assurance that the objective of the scheme will be realized.



Options: Dividend Payout,

Dividend Reinvestment & Growth

(applicable for all plans)

Dividend Frequency

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

Ratios

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


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


Ideal Investment Horizon: 1 - 15 days

Load Structure




Investment Style:

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.


`14,159.79 crs`14,056.51 crs

Mr. Deepak Agrawal*

ALLOCATION (%)

RATING PROFILE (%)


PORTFOLIO

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 : 0.08 years

Kotak Liquid Fund NAV as on February 28, 2018: `3489.2437 (Growth Option), `3498.0977 (Direct Growth Option),`1000.3836 (Weekly Dividend), ̀ 1005.4833 (Direct Weekly Dividend), ̀ 1222.8100 (Daily Dividend), ̀ 1222.8100 (Direct Daily Dividend)

Product Label

Investors understand that their principal will be at low risk

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Debt InstrumentsDebentures and BondsCorporate Debt/Financial Institutions Kotak Mahindra Investments Ltd. CRISIL AAA 0.18Corporate Debt/Financial Institutions - Total 0.18Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial InstitutionsReliance Industries Ltd. CRISIL A1+ 9.27Bharti Telecom Ltd. ICRA A1+ 8.51AXIS Bank Ltd. CRISIL A1+ 6.41Aditya Birla Finance Ltd. ICRA A1+ 5.27Gruh Finance Ltd. CRISIL A1+ 3.51Nabha Power Ltd. ( Backed byLetter of Comfort from L&T ) CRISIL A1+ 3.20Piramal Enterprises Ltd. ICRA A1+ 2.66Larsen and Toubro Ltd. CRISIL A1+ 2.48HDFC Ltd. CRISIL A1+ 2.12Aditya Birla Housing Finance ICRA A1+ 2.11IDFC Bank Limited ICRA A1+ 2.11IDFC Bank Limited CRISIL A1+ 1.92Manappuram Finance Ltd. CRISIL A1+ 1.74Muthoot Finance Ltd. CRISIL A1+ 1.73Bajaj Finance Ltd. CRISIL A1+ 1.59Karnataka Bank Ltd CRISIL A1+ 1.41Grasim Industries Ltd. ICRA A1+ 1.06India Infoline Finance Limited CRISIL A1+ 1.06IL & FS Financial Services Ltd. ICRA A1+ 0.89Reliance Jio Infocomm Ltd. CRISIL A1+ 0.89Vedanta Ltd. CRISIL A1+ 0.88Chambal Fertilisers &Chemicals Ltd. CRISIL A1+ 0.78LIC Housing Finance Ltd. CRISIL A1+ 0.71Trapti Trading & InvestmentsPrivate Limited ( HoldingCompany for AdityaBirla Group) ICRA A1+ 0.71Shriram City Union Finance Ltd. ICRA A1+ 0.63Edelweiss Commodities

Services Ltd. CRISIL A1+ 0.53Birla TMT Holding PrivateLimited ( Holding Company forAditya Birla Group ) CRISIL A1+ 0.36Turquoise Investments andFinance Private Limited ( HoldingCompany forAditya Birla Group) CRISIL A1+ 0.36TV18 Broadcast Ltd ICRA A1+ 0.35JM Financial Properties &Holdings Ltd. ICRA A1+ 0.32Standard CharteredInvestment & Loan India Ltd. CRISIL A1+ 0.18JM Financial Products Limited CRISIL A1+ 0.17Tata Steel Ltd. ICRA A1+ 0.04Corporate Debt/Financial Institutions - Total 65.96Public Sector Undertakings National Bank for Agriculture &Rural Development ICRA A1+ 7.33Export-Import Bank of India CRISIL A1+ 3.16Public Sector Undertakings - Total 10.49Reverse Repo 2.45Treasury Bills 329 Days TreasuryBill 12/03/2018 SOV 3.55323 Days TreasuryBill 13/03/2018 SOV 3.0291 Days Treasury Bill 08/03/2018 SOV 2.49317 Days TreasuryBill 15/03/2018 SOV 2.31182 Days TreasuryBill 08/03/2018 SOV 1.1091 Days Treasury Bill 22/03/2018 SOV 1.0691 Days Treasury Bill 01/03/2018 SOV 0.18Treasury Bills - Total 13.71Collateral Borrowing & Lending obligation 6.27Net Current Assets/(Liabilities) 0.94Grand Total 100.00

Nobody ever lost money taking a pro�t �Bernard Baruch

21

$Standard Deviation

Modified Duration

Portfolio Yield

0.10%

0.08yrs

6.72%

Commercial Paper (CP)/Cer�ficate of Deposits (CD) Treasury Bills CBLO & Term Deposits & Rev.Repo Net Current Assets Debentures and Bonds

76.45 13.71 8.720.94

0.18

90.34 8.72 0.94

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



Benchmark: CRISIL Liquid FundFund Manager: AAUM:

AUM: Allotment date: July 14, 2003

KOTAK FLOATER SHORT TERMAn Open - Ended Debt Scheme


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. However, there is no assurance that the objective of the scheme will be realized.



Options: Dividend Payout (w.e.f May 15, 2017, Under Monthly Dividned option only), Dividend Reinvestment & Growth (applicable for all plans

Dividend Frequency

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

Ratios



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

Load Structure


Exit Load: Nil (applicable for all plans)


Investment Style:

Product Label


� 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.


`16,380.78 crs

`17,484.28 crs

Mr. Deepak Agrawal*

PORTFOLIO


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Note : Aggregate value of investments by other schemes of Kotak Mahindra Mutual Fund as on 28 February 18 is Rs. 2,77,422.52 lacsAverage Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.09 years. Kotak Floater Short Term Fund NAV as on February 28, 2018: `2825.462 (Growth Option), `2832.6698 (Direct Growth Option),`1012.3371 (Weekly Dividend), `1022.0012 (Direct Weekly Dividend), `1004.2697 (Monthly Dividend), `1009.6102 (Direct Monthly Dividend), ̀ 1011.6200 (Daily Dividend), ̀ 1011.6200 (Direct Daily Dividend)


Low

Medium

High

Maturity

$Standard Deviation

Modified Duration

Portfolio Yield

0.10%

0.09 yrs

6.96%

Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions ECL Finance Limited CARE AA 1.23Altico Capital India Pvt Ltd FITCH IND AA- 0.17Kotak Mahindra Prime Ltd. CRISIL AAA 0.10Nabha Power Ltd. ( backed byunconditional and irrevocableguarantee by Larsen & Toubro Ltd ) ICRA AAA 0.04HDFC Ltd. CRISIL AAA 0.03Grand View Estates Pvt. Ltd.( backed by unconditional andirrevocable guarantee of ShapoorjiPallonji & Co Pvt Ltd ) ICRA AA 0.02Corporate Debt/Financial Institutions - Total 1.59Public Sector Undertakings National Housing Bank CRISIL AAA 0.04National Bank for Agriculture &Rural Development CRISIL AAA 0.02Public Sector Undertakings - Total 0.06Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial InstitutionsReliance Industries Ltd. CRISIL A1+ 9.11Bharti Telecom Ltd. ICRA A1+ 8.06Bajaj Finance Ltd. CRISIL A1+ 7.99HDFC Ltd. ICRA A1+ 7.68AXIS Bank Ltd. CRISIL A1+ 5.27Piramal Enterprises Ltd. ICRA A1+ 5.02LIC Housing Finance Ltd. CRISIL A1+ 4.91Suraksha Realty Ltd ( Secured byEquity shares of Sun PharmaceuticalsIndustries Ltd ) CARE A1+(SO) 4.08Muthoot Finance Ltd. CRISIL A1+ 3.56Reliance Jio Infocomm Ltd. CRISIL A1+ 3.05IDFC Bank Limited ICRA A1+ 2.44Tata Capital FinancialServices Limited CRISIL A1+ 2.43L & T Housing Finance Ltd. CARE A1+ 1.48Tata Power Company Ltd. ICRA A1+ 1.46Tata Steel Ltd. ICRA A1+ 1.43Grasim Industries Ltd. ICRA A1+ 1.23HPCL Mittal Energy Ltd. ICRA A1+ 1.11Karnataka Bank Ltd CRISIL A1+ 0.98Tata Motors Finance Ltd ICRA A1+ 0.98AXIS Finance Ltd. CRISIL A1+ 0.97L & T InfrastructureFinance Company Ltd. ICRA A1+ 0.97Chambal Fertilisers & Chemicals Ltd. CRISIL A1+ 0.93

Tata Capital Housing Finance Ltd. CRISIL A1+ 0.85IIFL Wealth Finance Ltd. CRISIL A1+ 0.76Gruh Finance Ltd. CRISIL A1+ 0.74Reliance Infrastructure Ltd.( Backed by SBLC of ICICI Bank) BRICKWORK BWR A1+ (SO) 0.63IL & FS Financial Services Ltd. ICRA A1+ 0.62Vedanta Ltd. CRISIL A1+ 0.61Azim premji Trust ICRA A1+ 0.49Essel Mining & Industries Ltd. ICRA A1+ 0.49Reliance Infrastructure Ltd. ( Backedby SBLC of ICICI Bank) FITCH IND A1+(SO) 0.48AU Small Finance Bank Ltd. CRISIL A1+ 0.37Sundaram BNP ParibasHome Finance Ltd ICRA A1+ 0.37IPCA Laboratories Ltd. CRISIL A1+ 0.25Tata CommunicationPayment Solutions Ltd. CARE A1+(SO) 0.25AXIS Bank Ltd. ICRA A1+ 0.12JM Financial Products Limited CRISIL A1+ 0.12Shapoorji Pallonji FinancePrivate Limited CRISIL A1+ 0.12Shriram City Union Finance Ltd. ICRA A1+ 0.12Adani Ports and SpecialEconomic Zone Limited CRISIL A1+ 0.02Shapoorji Pallonji andCompany Pvt. Ltd. ICRA A1+ 0.02Corporate Debt/Financial Institutions - Total 82.57Public Sector Undertakings National Bank for Agriculture &Rural Development ICRA A1+ 5.60Export-Import Bank of India CRISIL A1+ 2.44GIC Housing Finance Ltd. ICRA A1+ 0.74PNB Housing Finance Ltd. CRISIL A1+ 0.02Public Sector Undertakings - Total 8.80Reverse Repo 0.78Treasury Bills 91 Days Treasury Bill 01/03/2018 SOV 1.0491 Days Treasury Bill 08/03/2018 SOV 0.99323 Days Treasury Bill 13/03/2018 SOV 0.96329 Days Treasury Bill 12/03/2018 SOV 0.7491 Days Treasury Bill 15/03/2018 SOV 0.73182 Days Treasury Bill 08/03/2018 SOV 0.49317 Days Treasury Bill 15/03/2018 SOV 0.07Treasury Bills - Total 5.02Collateral Borrowing & Lending obligation 0.13Net Current Assets/(Liabilities) 1.05Grand Total 100.00

ALLOCATION (%)

RATING PROFILE (%)

I �nally know what distinguishes man from the other beasts:�nancial worries � Jules Renard

22



91.37 5.02 1.65 1.05 0.91

Commercial Paper (CP)/Cer�ficate of Deposits (CD) Treasury Bills

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

96.62 1.42 1.05 0.91

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

Net Current Assets CBLO & Term Deposits & Rev.Repo



* For Fund Manager experience, please refer page 53-54. For scheme performance, please refer page no 44-52. For last three dividends, please refer **Total Expense Ratio excludes applicable B15 fee and service tax. page no 55-57

Benchmark: CRISIL Liquid Fund Fund Manager: AAUM:

AUM: Allotment date: August 13, 2004

KOTAK TREASURY ADVANTAGE FUNDAn Open - Ended Debt Scheme


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.




Dividend Frequency

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

Ratios



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


Ideal Investment Horizon: 1-3 months

Load Structure




Investment Style:

Product Label




`6,227.67 crs`6,001.75 crs

Mr. Deepak Agrawal*

PORTFOLIO

Riskometer

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.46 years.

Kotak Treasury Advantage Fund NAV as on February 28 , 2018 : `10 .0798 (Da i l y D i v i dend Opt ion ) ,`10.0805 (Daily Dividend - Direct), `27.5653 (Growth Option), `10.2337 (Monthly Dividend Option), `10.1454 (Weekly Dividend Option), `12.6539 (Monthly Dividend - Direct), ̀ 10.1612 (Weekly Dividend - Direct), ̀ 27.9905 (Growth - Direct Option)


Low

Medium

High

Maturity

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Notes: Term Deposit as provided above is towards margin for currency derivatives transactions.^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 28 Feb 2018 is 30.00% of the net assets.

Debt Instruments

Debentures and Bonds

Corporate Debt/Financial Institutions

Reliance Jio Infocomm Ltd.(^) CRISIL AAA 12.23

HDFC Ltd.(^) CRISIL AAA 10.82

Torrent Pharmaceuticals Ltd. FITCH IND A1+ 8.31

Tata Motors Finance Ltd CARE AA+ 5.28

Vedanta Ltd. CRISIL AA 5.07

Shriram Transport

Finance Co Ltd. FITCH IND AA+ 5.01

LIC Housing Finance Ltd.(^) CRISIL AAA 3.95

Indiabulls Housing

Finance Ltd.(^) ICRA AAA 3.49

Indiabulls Housing Finance Ltd. CARE AAA 3.34

ICICI Home Finance

Company Limited(^) ICRA AAA 3.16

Muthoot Finance Ltd. CRISIL AA 2.60

Nabha Power Ltd. ( backed by

unconditional and irrevocable

guarantee by Larsen &

Toubro Ltd ) (^) ICRA AAA 2.36

Kotak Mahindra Investments Ltd. CRISIL AAA 1.67

Mahindra & Mahindra

Financial Services Ltd.(^) FITCH IND AAA 1.17

Kotak Mahindra Prime Ltd. CRISIL AAA 0.83

AXIS Bank Ltd. CRISIL AA+ 0.16

Dewan Housing Finance

Corporation Ltd. CARE AAA 0.13

IDFC Bank Limited ICRA AAA 0.10

Cholamandalam Investment

and Finance Company Ltd. ICRA AA 0.08

Bajaj Finance Ltd. ICRA AAA 0.01

Corporate Debt/Financial Institutions - Total 69.77

Public Sector Undertakings

Power Finance

Corporation Ltd.(^) CRISIL AAA 8.53

National Bank for Agriculture &

Rural Development FITCH IND AAA 4.15

PNB Housing Finance Ltd.(^) CARE AAA 1.66

Bank Of Baroda(^) CARE AA 1.09

Andhra Bank CRISIL AA- 0.85

Union Bank of India(^) CRISIL AA+ 0.59

Export-Import Bank of India CRISIL AAA 0.51

Bank Of Baroda CARE AA+ 0.38

Punjab National Bank CARE AA 0.25

Rural Electrification

Corporation Ltd. CRISIL AAA 0.21


Rural Development CRISIL AAA 0.11

Indian Railway Finance

Corporation Ltd. CRISIL AAA 0.10

Power Grid Corporation of

India Ltd. CRISIL AAA 0.08

Public Sector Undertakings - Total 18.51

Government Dated Securities

6.68% Central Government SOV 1.49

7.75% State Government SOV 0.17


Government Dated Securities - Total 1.83

Money Market Instruments

Futures

6.68% GS 17/09/2031-MAR2018 -1.49

Futures (Market value represents Notional Value) - Total -1.49

Export-Import Bank of India

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


IDFC Bank Limited CRISIL A1+ 2.37

ICICI Bank Ltd. ICRA A1+ 2.13

AXIS Bank Ltd. CRISIL A1+ 2.05



PNB Housing Finance Ltd. CRISIL A1+ 1.22


TERM DEPOSITS

HDFC Bank Ltd. 0.12

Term Deposits - Total 0.12

Net Current Assets/(Liabilities) 3.49

Grand Total 100.00


$Standard Deviation

Modified Duration

Portfolio Yield

0.36%

0.42 yrs

7.95%

ALLOCATION (%)

RATING PROFILE (%)

23


88.28 7.77

3.49

1.83 0.12-1.49

Debentures and Bonds Commercial Paper (CP)/Cer�ficate of Deposits (CD) Net Current Assets

Government Dated Securi�es CBLO & Term Deposits & Rev.Repo Deriva�ves

76.52 21.36 3.49 0.12-1.49

A1+, AAA, IND A1+, IND AAA, SOV AA+, IND AA+, AA, AA- Net Current Assets

CBLO & Term Deposits & Rev.Repo Deriva�ves



Benchmark: CRISIL Short Term Bond Fund Index


Allotment date: December 29,1998

KOTAK BANKING AND PSU DEBT FUNDAn Open - Ended Debt Scheme


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. However, there is no assurance that the objective of the scheme will be realized.




Dividend Frequency

Monthly (12th of every Month)

Ratios



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

Additional Investment: `1000 & in multiples of ̀ 1.


Load Structure




Investment Style:


`1,238.30 crs

`1,116.54 crs

Mr. Deepak Agrawal*

PORTFOLIO

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments 2.31 years.

Kotak Banking And PSU Debt Fund NAV as on February 28, 2018: `38.7160 (Growth Option), `39.2146 (Direct Growth Option),`10.5305 (Monthly Dividend), ̀ 10.6316 (Direct Monthly Dividend)


Low

Medium

High

Maturity

$Standard Deviation

Modified Duration

Portfolio Yield

1.32%

1.85 yrs

8.29%



Product Label

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Debt Instruments



AXIS Bank Ltd. CRISIL AA+ 13.59



Rural Electrification Corporation Ltd. CRISIL AAA 12.21

Power Grid Corporation of India Ltd. CRISIL AAA 9.46

Small Industries Development

Bank Of India CARE AAA 6.56

State Bank Of India. CRISIL AAA 5.74

Punjab National Bank BRICKWORK BWR AA 4.38

Canara Bank CRISIL AAA 2.69

Power Finance Corporation Ltd. ( ) CRISIL AAA 2.27

Power Finance Corporation Ltd. ICRA AAA 1.81

Power Finance Corporation Ltd. CRISIL AAA 1.54

Punjab National Bank CARE AA 1.32

Punjab National Bank CARE AA- 1.29

Powergrid Vizag Transminssion Ltd.

( backed by unconditional and irrevocable guarantee by

Powergrid Corp ) CRISIL AAA(SO) 1.18

Steel Authority of India Ltd. FITCH IND AA- 0.18











HDFC Bank Ltd. CRISIL A1+ 4.19



Collateral Borrowing & Lending obligation 0.43


Grand Total 100.00

ALLOCATION (%)

RATING PROFILE (%)

Every day I get up and look through the Forbes list of therichest people in America. If I'm not there, I go to work � Robert Orben

24



64.22 19.28 8.15 7.92 0.43

Debentures and Bonds Net Current Assets

Commercial Paper (CP)/Cer�ficate of Deposits (CD) Government Dated Securi�es

CBLO & Term Deposits & Rev.Repo

59.53 20.76 19.28 0.43

A1+, AAA, AAA(SO), SOV AA+, AA, BWR AA, AA-, IND AA- Net Current Assets CBLO & Term Deposits & Rev.Repo



Benchmark: CRISIL Liquid Fund Fund Manager: AAUM:

AUM: Allotment date: March 6, 2008

KOTAK LOW DURATION FUND An Open - Ended Debt Scheme


The primary objective of the Scheme is to generate income through investment primarily in low duration debt & money market securities. However, there is no assurance that the objective of the scheme will be realized.


A) Regular B) Direct Plan

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

Dividend Frequency

Weekly (every Monday), Monthly (12th of every month)

Ratios




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


Load Structure

Entry Load: Nil.

Exit Load: Nil.

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


Investment Style:


`5,590.10 crs`5,520.69 crs

Mr. Deepak Agrawal*

PORTFOLIO


Kotak Low Duration Fund NAV as on ̀ 2101.8798 (Regular Plan-Growth Option), ̀ 1014.5258 (Regular Plan-Weekly February 28, 2018: Dividend), `1019.4253 (Regular Plan-Monthly Dividend), `2167.7347 (Direct Plan- Growth Option), `1199.0033 (Direct Plan- Weekly Dividend), ̀ 1049.2464 (Direct Plan- Monthly Dividend)


Low

Medium

High

Maturity

$Standard Deviation

Modified Duration

Portfolio Yield

0.50%

1.02 yrs

9.18%


� 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

Riskometer

Investors understand that their principal will be at moderate risk

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Notes: ^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 28 Feb 2018 is 9.06% of the net assets.

Debt Instruments





Corporation Ltd.(^) CARE AAA 5.91

S D Corporation Private Ltd. ( DSRA

Guarantee from Shapoorji Pallonji and

Company Private Limited) CARE AA+(SO) 5.72

Nirma Ltd.(^) CRISIL AA 5.33

Manappuram Finance Ltd. ICRA AA- 4.59

HDFC Ltd. CRISIL AAA 3.95

Karelides Traders Private Ltd. ( backed

by unconditional and irrevocable

undertaking by a wholly owned

subsidiary of Piramal Enterprises Ltd ) ICRA AA-(SO) 3.89

Sarvoday Advisory Services Pvt. Ltd.

( Secured by Equity shares of JSW

Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 3.68

Edelweiss Commodities Services Ltd. ICRA AA 3.63

Reliance Jio Infocomm Ltd.(^) CRISIL AAA 3.08

Varun Beverages Limited CRISIL AA- 2.71

LIC Housing Finance Ltd.(^) CRISIL AAA 2.61

Aditya Birla Fashion and Retail Ltd. CRISIL AA 1.94

Nuvoco Vistas Corporation Ltd.

( 100 subsidiary of Nirma Ltd.) CRISIL AA 1.64

Indiabulls Housing Finance Ltd. CARE AAA 1.45

Sahyadri Agencies Ltd ( Secured by

Equity shares of Jyothy

Laboratories Ltd. ) BRICKWORK BWR A(SO) 1.36

Reliance Utilities And Power Pvt. Ltd.

( Mukesh Ambani Group) CRISIL AAA 1.35

Bharti Telecom Ltd. CRISIL AA+ 1.27

Jyothy Fbricare Services Limited

( Guarrented By Jyothi

Laboratories Ltd ) CARE AA(SO) 1.10

Intime Properties Ltd. ( Commercial

Mortgage-Backed Securities ) FITCH IND AAA 1.03

Indostar Capital Finance Limited CARE AA- 0.87

HPCL Mittal Energy Ltd. ICRA AA 0.82

Indiabulls Housing Finance Ltd. ICRA AAA 0.81

Piramal Finance Limited ICRA AA 0.75

India Infoline Housing Finance Ltd. ICRA AA 0.73

ECL Finance Limited ICRA AA 0.55

Muthoot Fincorp Ltd. CRISIL A- 0.55

Edelweiss Housing Finance Limited ICRA AA 0.54

Shriram Transport Finance Co Ltd. CRISIL AA+ 0.27

East-North Interconnection

Company Limited ( Operational power

transmission project ) CRISIL AAA(SO) 0.09

Muthoot Finance Ltd. CRISIL AA 0.02



U P Power Corporation Ltd

( Guaranteed By UP

State Government ) FITCH IND AA(SO) 7.02

Bank Of Baroda(^) CARE AA 6.50

Andhra Bank(^) CRISIL AA- 2

Oriental Bank of Commerce(^) ICRA A 1.90

PNB Housing Finance Ltd. CARE AAA 1.15

Bank Of Baroda CARE AA+ 0.51

Power Finance Corporation Ltd. CRISIL AAA 0.51

Union Bank of India CARE AA- 0.44

United Bank Of India CRISIL AA- 0.43

Allahabad Bank FITCH IND A 0.19

Konkan Railway Corporation Ltd. ICRA AAA 0.18








Reliance Infrastructure Ltd.

( Backed by SBLC of ICICI Bank) FITCH IND A1+(SO) 1.93

L & T Finance Ltd. ICRA A1+ 1.56


Reliance Infrastructure Ltd.

( Backed by SBLC of ICICI Bank) BRICKWORK BWR A1+ (SO) 0.79

Muthoot Capital Services Ltd. CRISIL A1 0.59




Grand Total 100.00

ALLOCATION (%)

RATING PROFILE (%)

25



91.24 6.03 2.18 0.42 0.13

Debentures and Bonds Commercial Paper (CP)/Cer�ficate of Deposits (CD)


Government Dated Securi�es

62.03 27.69 7.68 2.18 0.42

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

A, BWR A(SO), IND A, A- Net Current Assets




Benchmark: Crisil Short - Term Bond Fund Fund Manager: AAUM:

AUM: Allotment date: May 2, 2002

KOTAK BOND SHORT TERMAn Open - Ended Debt Scheme


The investment objective of the Scheme is to provide reasonable returns and high level of liquidity by investing in debt instruments s u c h a s b o n d s , d e b e n t u r e s a n d 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. However, there is no assurance that the objective of the scheme will be realized.




Dividend Frequency

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

Ratios



Initial Investment: (i) Dividend Re-investment & Growth - `5000 & above (ii) Dividend Payout (Monthly Dividend) - `50,000 & aboveAdditional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investments Horizon: 6 months & above

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


Investment Style:


`9,731.86 crs`9,669.16 crs

Mr. Deepak Agrawal*

PORTFOLIO

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 1.66 years.Kotak Bond Short Term Fund NAV as on February 28, 2018: `32.1052 (Growth Option), `33.3095 (Direct Growth Option),`10.1313 (Monthly Dividend), ̀ 10.5459 (Direct Monthly Dividend), ̀ 11.7214 (Half Yearly Dividend), ̀ 11.8633 (Direct Half Yearly Dividend)


� 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.

Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Mahindra & MahindraFinancial Services Ltd. FITCH IND AAA 8.04HDFC Ltd. CRISIL AAA 7.09Nabha Power Ltd. ( backed byunconditional and irrevocableguarantee by Larsen &Toubro Ltd ) ICRA AAA 6.62LIC Housing Finance Ltd. CRISIL AAA 5.02Reliance Jio Infocomm Ltd. CRISIL AAA 3.91Kotak Mahindra Prime Ltd. CRISIL AAA 3.83Indiabulls Housing Finance Ltd. CARE AAA 3.06Tata Sons Ltd. CRISIL AAA 2.52Gruh Finance Ltd. CRISIL AAA 2.44Bajaj Finance Ltd. CRISIL AAA 1.75Bajaj Finance Ltd. FITCH IND AAA 1.61Bhopal Dhule TransmissionCompany Ltd. ( Operationalpower transmission project ) CRISIL AAA 1.34Fullerton India Credit Co. Ltd. CARE AAA 1.03HDB Financial Services Ltd. CRISIL AAA 0.78Reliance Jio Infocomm Ltd.( Irrevocably and unconditionallyguaranteed byReliance Industries ) CRISIL AAA 0.63BMW India Financial ServicesPrivate Limited CRISIL AAA 0.52Citicorp Finance (India) Ltd. ICRA AAA 0.52Kotak Mahindra Investments Ltd. CRISIL AAA 0.52Indiabulls Housing Finance Ltd. ICRA AAA 0.43IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.33Reliance Industries Ltd. CRISIL AAA 0.25Dewan Housing FinanceCorporation Ltd. CARE AAA 0.16East-North InterconnectionCompany Limited ( Operationalpower transmission project ) CRISIL AAA(SO) 0.05Corporate Debt/Financial Institutions - Total 52.45Public Sector Undertakings Power Finance Corporation Ltd. CRISIL AAA 6.25ONGC Manglore

Petrochemicals Ltd. FITCH IND AAA 6.01Rural ElectrificationCorporation Ltd. CRISIL AAA 4.83National Bank for Agriculture &Rural Development CRISIL AAA 2.97PNB Housing Finance Ltd. CARE AAA 1.75Export-Import Bank of India CRISIL AAA 1.28Small Industries DevelopmentBank Of India CARE AAA 0.92Indian Railway FinanceCorporation Ltd. CRISIL AAA 0.13Public Sector Undertakings - Total 24.14Government Dated Securities 8.21% State Government SOV 2.468.53% State Government SOV 1.898.26% State Government SOV 1.578.45% State Government SOV 0.998.39% State Government SOV 0.568.55% State Government SOV 0.428.5% State Government SOV 0.318.75% State Government SOV 0.278.27% State Government SOV 0.218.52% State Government SOV 0.161.44% Central Government SOV 0.106.79% Central Government SOV 0.05Government Dated Securities - Total 8.99Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial InstitutionsIndusInd Bank Ltd. CRISIL A1+ 3.60AXIS Bank Ltd. ICRA A1+ 1.92AXIS Bank Ltd. CRISIL A1+ 0.61Corporate Debt/Financial Institutions - Total 6.13Public Sector Undertakings National Bank for Agriculture &Rural Development CRISIL A1+ 2.41Small Industries DevelopmentBank Of India CARE A1+ 2.41Public Sector Undertakings - Total 4.82Collateral Borrowing & Lending obligation 0.07Net Current Assets/(Liabilities) 3.40Grand Total 100.00


Maturity

Low

Medium

High

$Standard Deviation

Modified Duration

Portfolio Yield

0.94%

1.43 yrs

8.06%

Product LabelRiskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


The economy depends about as much on economists as the weatherdoes on weather forecasters � Jean-Paul Kauffmann

26


ALLOCATION (%)

RATING PROFILE (%)


76.59 10.95 8.99 3.40 0.07


Government Dated Securi�es Net Current Assets


96.53 3.40 0.07

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



Benchmark: CRISIL Composite Bond Fund Fund Manager: AAUM:


KOTAK FLEXI DEBTAn Open - Ended Debt Scheme

Investment ObjectiveTo maximize returns through an active management of a portfolio of debt and money market securities. However, there is no assurance that the objective of the scheme will be realized.

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

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

Ratios


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


Ideal Investment Horizon: 6 months & above

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

Regular:0.90%; Direct:0.35%

Investment Style:


`1,054.28 crs `1,044.77 crs

Mr. Deepak Agrawal*

PORTFOLIO


Kotak Flexi Debt Fund NAV as on February 28, 2018: ̀ 22 .0079 (G rowth Op t i on ) , `22 .7112 (D i re c t G rowth Op t i on ) , `10.8150 (Quarterly Dividend), `10.6160 (Direct Quarterly Dividend), `21.7165 (Regular Monthly Dividend), `22.3722 (Direct Monthly Dividend)

Medium Long Volatiliy

Maturity

Low

Medium

High

Short

Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsAXIS Bank Ltd. CRISIL AA+ 9.37Reliance Ports And Terminals Ltd.( Mukesh Ambani Group ) CRISIL AAA 5.72ICICI Bank Ltd. CARE AA+ 3.83Bhopal Dhule TransmissionCompany Ltd. ( Operational powertransmission project ) CRISIL AAA 2.92Mahindra & MahindraFinancial Services Ltd. CARE AAA 2.76Indiabulls Housing Finance Ltd. CARE AAA 1.92Bajaj Finance Ltd. CRISIL AAA 0.66Bajaj Finance Ltd. CARE AAA 0.19HDFC Ltd. CRISIL AAA 0.19SP Jammu Udhampur Highway Ltd.( backed by unconditional and irrevocable guarantee ofShapoorji Pallonji & Co Pvt Ltd ) ICRA AAA 0.14Corporate Debt/Financial Institutions - Total 27.70Public Sector Undertakings Bank Of Baroda CRISIL AA+ 4.22U P Power Corporation Ltd ( Guaranteed ByUP State Government ) FITCH IND AA(SO) 3.03Bank Of Baroda CARE AA 1.91PNB Housing Finance Ltd. CARE AAA 1.88

Export-Import Bank of India CRISIL AAA 0.09Power Finance Corporation Ltd. CRISIL AAA 0.05Rural ElectrificationCorporation Ltd. CRISIL AAA 0.04Public Sector Undertakings - Total 11.22Government Dated Securities 8.53% State Government SOV 9.948.21% State Government SOV 9.238.27% State Government SOV 6.768.88% State Government SOV 4.958.26% State Government SOV 4.848.06% State Government SOV 4.808.45% State Government SOV 2.071.44% Central Government SOV 1.439.49% State Government SOV 0.51Government Dated Securities - Total 44.53Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial InstitutionsHDFC Bank Ltd. CRISIL A1+ 4.48IDFC Bank Limited CRISIL A1+ 3.76Corporate Debt/Financial Institutions - Total 8.24Collateral Borrowing & Lending obligation 0.22Net Current Assets/(Liabilities) 8.09Grand Total 100.00

Product Label



Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


$Standard Deviation

Modified Duration

Portfolio Yield

1.73%

2.78 yrs

8.39%

ALLOCATION (%)

RATING PROFILE (%)

It's not your salary that makes you rich, it's your spending habits�Charles A Jaffe � Former Chess Grand Master

27



44.53 38.92 8.24 8.09 0.22

Government Dated Securi�es Debentures and Bonds Commercial Paper (CP)/Cer�ficate of Deposits (CD)


69.33 22.36 8.09 0.22

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



Benchmark: CRISIL Short Term Bond Fund Fund Manager: AAUM:


KOTAK INCOME OPPORTUNITIES FUNDAn Open - Ended Debt Scheme

Investment ObjectiveThe 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. However, there is no assurance that the objective of the scheme will be realized.

Available Plans/OptionsA) Regular Plan B) Direct Plan


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

Ratios




Ideal Investments Horizon: 1 year & above

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

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

b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%.

c) If units are redeemed or switched out on or after 1 year from the date of allotment: Nil.


Investment Style:


`5,068.78 crs `5,127.37 crs

Mr. Deepak Agrawal*

PORTFOLIO

Notes: ̂ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 28 Feb 2018 is 3.90% of the net assets.

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 2.24 years.Kotak Income Opportunities Fund NAV as on February 28, 2018: `18.8996 (Growth Option), `19.8226 (Direct Growth Option),`10.0016 (Weekly Dividend), `10.4257 (Direct Weekly Dividend), `10.3335 (Monthly Dividend), `10.5575 (Direct Monthly Dividend), `10.7586 (Quarterly Dividend), ̀ 10.1504 (Direct Quarterly Dividend), ̀ 10.8129 (Annual Dividend), ̀ 14.8885 (Direct Annual Dividend).

$Standard Deviation

Modified Duration

Portfolio Yield

0.92%

1.71 yrs

9.48%


Maturity

Low

Medium

High

Short

Product Label


� 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.

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsKarelides Traders Private Ltd. ( backed byunconditional and irrevocable undertakingby a wholly owned subsidiary ofPiramal Enterprises Ltd ) ICRA AA-(SO) 8.77Sarvoday Advisory Services Pvt. Ltd.( Secured by Equity shares of JSWEnergy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 3.96Suhani Trading and InvestmentConsultants Pvt Ltd ( Secured byEquity shares of Future Ratails Ltd &Future Lifestyle Fashions Ltd. ) BRICKWORK BWR A+(SO) 3.89Reliance Jio Infocomm Ltd. CRISIL AAA 3.72HDFC Ltd.(^) CRISIL AAA 3.51HPCL Mittal Energy Ltd. ICRA AA 3.26Nuvoco Vistas Corporation Ltd.( 100 subsidiary of Nirma Ltd.) CRISIL AA 2.83Vedanta Ltd. CRISIL AA 2.44India Infoline Housing Finance Ltd. ICRA AA 2.34S D Corporation Private Ltd.( DSRA Guarantee from ShapoorjiPallonji and CompanyPrivate Limited) CARE AA+(SO) 1.98YES Bank Ltd. ICRA AA 1.98AU Small Finance Bank Ltd. FITCH IND AA- 1.96Adani Infra (India) Limited.( Secured by shares of Adani Port,Adani Enterprises & AdaniTransmissions) BRICKWORK BWR AA-(SO) 1.95Indiabulls Housing Finance Ltd.(^) ICRA AAA 1.95Nirma Ltd. CRISIL AA 1.95Edelweiss Agri Value Chain Ltd.( Unconditional and irrevocableguarantee from Edelweiss FinancialServices Limited) CARE AA(SO) 1.65Prestige Estates Projects Limited ICRA A+ 1.47Dewan Housing FinanceCorporation Ltd. CARE AAA 1.36Bharti Telecom Ltd. CRISIL AA+ 1.17ECL Finance Limited(^) BRICKWORK BWR AA 1.04ECL Finance Limited(^) ICRA AA 0.98Ananta Landmarks Pvt Ltd.( Kalpataru Group Company ) UNRATED 0.97Future Lifestyle Fashions Ltd. CRISIL AA- 0.96SBK Properties Pvt Ltd. ( Guaranteedby a Kalyani Group company ) ICRA AA- 0.70Asirvad Microfinance Private Limited( 85 subsidiary of ManappuramFinance Ltd ) CRISIL A+ 0.69Janalakshami Financial Services Ltd. ICRA A- 0.67S D Corporation Private Ltd.( Guarantee by Shapoorji Pallonji &Company Ltd ) CARE AA+(SO) 0.67Dalmia Cement (Bharat) Ltd ICRA AA 0.66Bhopal Dhule TransmissionCompany Ltd. ( Operational powertransmission project ) CRISIL AAA 0.34Continental Drug Company P Ltd( Secured by Equity shares of ZeeEntertainment Enterprises Ltd ) BRICKWORK BWR A+ 0.33Piramal Finance Limited(^) ICRA AA 0.31Aarish Solar Power Ltd. ( Solarpower generating SPV of GreenkoGroup with offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28Aashman Energy Pvt. Ltd.( Solar power generatingSPV of Greenko Group with offtaker asNTPC & secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28Divyesh Power Pvt. Ltd. ( Solar powergenerating SPV of Greenko Groupwith offtaker as NTPC &secured by corporate guarantee of

Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28Elena Renewable Energy Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28Pratyash Renewable Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28SEI Baskara Power Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28SEI Enerstar Renewable Energy Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28SEI Mihir Energy Pvt. Ltd. ( Solarpower generating SPV of GreenkoGroup with offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28Shreyas Renwable Energy Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker asNTPC & secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28Zuvan Energy Pvt. Ltd. ( Solar powergenerating SPV of Greenko Groupwith offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28Piramal Enterprises Ltd. ICRA AA 0.20Indiabulls Housing Finance Ltd. CARE AAA 0.08Indostar Capital Finance Limited CARE AA- 0.04LIC Housing Finance Ltd. CRISIL AAA 0.02Corporate Debt/Financial Institutions - Total 63.60Public Sector Undertakings U P Power Corporation Ltd( Guaranteed By UPState Government ) CRISIL A+(SO) 6.26Andhra Bank CRISIL AA- 4.51U P Power Corporation Ltd( Guaranteed By UPState Government ) FITCH IND AA(SO) 2.97Punjab & Sind Bank ICRA A+ 2.77Syndicate Bank CARE AA- 2.33Union Bank of India CARE AA- 1.22Corporation Bank CRISIL A- 1.06Oriental Bank of Commerce ICRA A 1.06Allahabad Bank FITCH IND A 0.94PNB Housing Finance Ltd. CARE AAA 0.49U P Power Corporation Ltd( Guaranteed By UPState Government ) FITCH IND AA 0.49Bank Of Baroda CARE AA+ 0.39Bank of India CRISIL A+ 0.30Bank of India BRICKWORK BWR AA- 0.12Konkan Railway Corporation Ltd. ICRA AAA 0.10United Bank Of India CRISIL AA- 0.09Power Finance Corporation Ltd. CRISIL AAA 0.08Bank Of Baroda CARE AA 0.06Steel Authority of India Ltd. FITCH IND AA- 0.02Public Sector Undertakings - Total 25.26Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Indiabulls Housing Finance Ltd. CRISIL A1+ 4.97IndusInd Bank Ltd. CRISIL A1+ 1.87ICICI Bank Ltd. ICRA A1+ 1.15Corporate Debt/Financial Institutions - Total 7.99Collateral Borrowing & Lending obligation 0.17Net Current Assets/(Liabilities) 2.98Grand Total 100.00

ALLOCATION (%)

RATING PROFILE (%)

28



88.86

7.99 2.98 0.17



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

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

52.84 23.40 19.64 2.98

0.97

0.17




AUM: Allotment date: September 21, 2007

KOTAK CORPORATE BOND FUNDAn Open - Ended Debt Scheme

Investment ObjectiveThe Fund seeks to generate income and capital appreciation largely through a focus on investments in corporate debt securities. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved.



Dividend FrequencyMonthly (12th of every Month)

Ratios



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

Ideal Investment Horizon: 1 Year & Above




Investment Style:


`1,215.72 crs`1,217.48 crs

Mr. Deepak Agrawal*

PORTFOLIO

Notes: (^) Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 28 Feb 2018 is 7.88% of the net assets.


Kotak Corporate Bond Fund NAV as on February 28, 2018: `2262.2786 (Regular Plan-Growth Option), `1048.7960 (Regular Plan-Monthly Dividend), ̀ 2306.8401 (Direct Plan- Growth Option), ̀ 1102.4804 (Direct Plan- Monthly Dividend)

$Standard Deviation

Modified Duration

Portfolio Yield

0.59%

0.62 yrs

7.90%


Maturity

Low

Medium

High

Short

Product Label


� 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.

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Debt Instruments



Reliance Jio Infocomm Ltd. CRISIL AAA 9.69

Nabha Power Ltd. ( backed by

unconditional and irrevocable

guarantee by Larsen & Toubro Ltd ) ICRA AAA 7.88

Mahindra & Mahindra

Financial Services Ltd.(^) FITCH IND AAA 6.37

Reliance Utilities And Power Pvt. Ltd.

( Mukesh Ambani Group) CRISIL AAA 6.27

Kotak Mahindra Prime Ltd. CRISIL AAA 4.71


Mahindra & Mahindra Financial

Services Ltd. FITCH AAA(IND) 3.84

ICICI Home Finance

Company Limited ICRA AAA 2.20


Corporation Ltd. CARE AAA 1.97

Indiabulls Housing Finance Ltd. ICRA AAA 1.02

LIC Housing Finance Ltd. CRISIL AAA 0.83

IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.44

Bhopal Dhule Transmission Company Ltd.

( Operational power

transmission project ) CRISIL AAA 0.31

Bajaj Finance Ltd. FITCH IND AAA 0.20



Power Finance Corporation Ltd.(^) CRISIL AAA 8.95

PNB Housing Finance Ltd.(^) CARE AAA 5.41

ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 3.32



Canara Bank CRISIL AAA 1.69

Rural Electrification Corporation Ltd. CRISIL AAA 1.17

Export-Import Bank of India CRISIL AAA 0.92

National Housing Bank CRISIL AAA 0.63

Powergrid Vizag Transminssion Ltd.

( backed by unconditional and

irrevocable guarantee by

Powergrid Corp ) CRISIL AAA(SO) 0.56


Rural Development CRISIL AAA 0.09





L & T Finance Ltd. ICRA A1+ 8.27

HDFC Bank Ltd. CRISIL A1+ 6.26

AXIS Bank Ltd. CRISIL A1+ 3.08


IndusInd Bank Ltd. CRISIL A1+ 1.11




Grand Total 100.00

ALLOCATION (%)

RATING PROFILE

Don't tell me where your priorities are. Show me where you spendyour money and I'll tell you what they are � James W. Frick

29


Aggregate value of investments by other schemes of Kotak Mahindra Mutual Fund as on 28 February 2018 is Rs. 5281.05 lacs


75.00 20.65 3.80 0.55

Debentures and Bonds Commercial Paper (CP)/Cer�ficate of Deposits (CD)Net Current Assets CBLO & Term Deposits & Rev.Repo

95.65 3.80 0.55

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

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

Kotak 50

Kotak Midcap

Kotak Opportunities

Kotak Classic Equity

Kotak Select Focus Fund

Kotak Tax Saver

Kotak Emerging Equity Scheme

Equity Scheme

Kotak Balance Fund

Kotak Equity Savings Fund

Kotak Equity Arbitrage Fund

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

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



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

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

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

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

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

� Income from arbitrage opportunities in the equity market

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

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

Kotak Infrastructure &

Economic Reform Fund

(formerly known as

�PineBridge Infrastructure

& Economic Reform Fund�)

Debt Scheme

Kotak Bond

Kotak Gilt Investment

Kotak Medium Term Fund

Kotak Low Duration Fund (Formerly known as PineBridgIndia Short Term Fund)

Kotak Banking andPSU Debt Fund

Kotak Treasury Advantage Fund

Kotak Flexi Debt

Kotak Corporate Bond Fund (Formerly known as PineBridgeIndia Total Return Bond Fund)

Kotak Income Opportunities

Kotak Bond Short Term

Kotak Liquid

Name of the Scheme This product is suitable for investors who are seeking* Riskometer

Riskometer

Low

Moderately

Low

Moderate ModeratelyHigh

High


Low High

Riskometer

Low

Moderately

Low


High


Low High

Riskometer

Low

Moderately

Low


High


Low High Kotak Floater Short Term

� 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.

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

� 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

� Regular Income over short term� Income by focusing on low duration securities

� Income over a short to medium term investment horizon� Investment in debt & money market securities of PSUs, Banks & government securities

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

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

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

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

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

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

� Regular Income over short term� Income by investing in fixed income securities of varying maturities and credit

Riskometer

Low

Moderately

Low


High

Investors understand that their principal will be at High risk

Low High

Riskometer

Low

Moderately

Low


High

Investors understand that their principal will be at Moderately High risk

Low High

Riskometer

Low

Moderately

Low


High

Investors understand that their principal will be at Moderately low risk

Low High

Det

ails

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1415

9.79

1638

0.78

6,22

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5,59

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1,21

5.72

1,23

8.30

9,73

1.86

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8.78

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4.28

2,07

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46

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0.69

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1.66

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3.54

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0.62

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1.43

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2.78

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21.3

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71.3

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Nil

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91.0

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Equity Funds Ready Reckoner

thDetails provided are as on February 28 , 2018. Ratio Source: ICRA MFI Explorer. Riskfree rate assumed to be 6.05%.Alpha = Difference between Scheme returns & Benchmark Index TRI of the scheme. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).$ for Kotak Balance - The existing benchmark "CRISIL Balanced Fund" has been renamed as "CRISIL Hybrid 35+65 - Aggressive Index" as per communication received from CRISIL * The given market cap data is on the basis of new AMFI guidelines wherein Stocks are categorised as per given AMFI list *As per SID, Kotak Midcap Fund Market cap is (66.82% Large Cap, 32.49% Mid Cap , 0.69% Small Cap and 10.14% Cash), and for Kotak Emerging Equity fund (87.90% Large Cap, 0.18% Mid Cap and 1.79% Cash)The Market cap data as per sid for Kotak Midcap Fund & Kotak Emerging Equity Fund, the stocks falling within the mcap range in Nifty Midcap 100 & S&P BSE Mid Small Cap, respectively, would be considered as midcap stocks. Any stock which would have mcap above the highest mcap of these benchmarks would be considered as largecap, and any stock would have mcap below the lowest mcap would be considered as smallcap. For Tax Saver Fund : Minimum Initial Investment: 500. Additional Investment: 500 & inmultiples of 500. For all other Equity Schemes : Minimum Initial Investment: 5000. Additional Investment: 1000 & inmultiples of 1.

N/A: Field not applicable to the scheme owing to its investment theme. Risk Factor: Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Continuous offer of units of all schemes available at NAV based prices.

Kotak 50a. Favours industry leaders in cost, innovation, brand, competence, etc. with a proven execution track record across cyclesb. High conviction and long term calls taken

Key Features


Kotak Opportunities

Kotak Select Focus Fund

Kotak Tax Saver

Kotak Midcap

Kotak Emerging Equity Scheme

Kotak Infrastructure

& Economic Reform Fund

Kotak Balance Fund

Kotak Equity Arbitrage Fund

Thematic: Infrastructure

Large cap

Investment Theme

Large cap

Multi Cap

ELSS

Mid cap

Mid and Small Cap

Balanced

Equity Arbitrage

Equity Savings

Invest with industry leaders

Product Positioning

Long term wealth creators

Spotting the hidden gems

Focus on few selected sectors

Tax advantage with potential equity growth

Spot them young, watch them grow

Emerging leaders

True to label

Best of both worlds: equity

& debt

Arbitrage opportunities

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

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

a. Stands for winning investment ideas across the mid & small cap range offering decent growth trajectory over the medium to long term horizonb. Buy and hold strategyc. Riskier than a large cap fund but offers faster growth rate since it has a smaller based. d. 15%-20% allocation to large cap opportunities as tactical plays

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

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

Identifies investment opportunities across market capitalisation and sectors

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

a. Identifies the hidden growth potential of mid-cap sized companiesb. Portfolio exhibits higher volatility than large caps however tends to have a larger return basec. Buy and hold strategy

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

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

Fund Manager

Mr. Harish Krishnan

Mr. Deepak Gupta

Mr. Harsha Upadhyaya



Mr. Pankaj Tibrewal

Mr. Pankaj Tibrewal

Mr. Harish Krishnan

Mr. Pankaj Tibrewal

& Mr. Abhishek

Bisen

Mr. Deepak Gupta

Mr. Deepak Gupta

& Mr. Abhishek

Bisen

Kotak Equity Savings Fund

Scheme NameMonthly AAUM

(Rs. Crs)Benchmark Mcap (%) Underweight Beta

Nifty 50

Nifty 100

Nifty 500

Nifty 200

Nifty 500

Nifty Midcap

100

S&P BSE Mid

Small Cap

S&P BSE 100

Nifty 50 Arbitrage

Index

75% of Nifty 50

Arbitrage Index + 25% of Nifty 50

Overweight Standard Deviation

(%)

Sharpe 5 yearsAlpha (%)

1,374.92

161.40

2,361.64

17,485.46

715.86

828.95

2,965.20

474.34

2,260.93

14,701.75

1,738.21

N/A

N/A

40.4615.1114.3930.04

55.5926.3215.812.27

29.4530.7638.091.70

78.1112.06

3.196.65

15.3934.6649.260.69

54.1031.9211.84

2.13

76.5513.72

3.136.61

78.8413.36

5.462.34

12.2153.3232.681.79

1. Industrial Manufacturing2. Media & Entertainment3. Cement & Cement Products

1. Telecom2. Metals3. Chemicals

1. Cement & Cement Products2. Energy3. Fertiliser and Pesticides

1. Cement & Cement Products 2. Financial Services3. Construction"

1. Cement & Cement Products 2. Energy3. Industrial Manufacturing

1. Industrial Manufacturing 2. Chemicals3. Automobiles

1. Industrial Manufacturing2. Financial Services 3. Consumer Goods

N/A

N/A

N/A

N/A

1. Information Technology2. Financial Services 3. Metals

1. Financial Services2. Automobile3. Services

1. Information Technology2. Automobile3. Pharma

1. Information technology2.Consumer Goods 3.Metals

1. Information technology2. Automobiles3. Consumer Goods

1. Services2. Pharma3. Information Technology

1. Energy2. Services3. Construction

N/A

N/A

N/A

N/A

0.15

0.26

0.40

0.44

0.23

0.61

0.66

0.42

0.26

0.67

0.52

0.94

0.93

0.97

0.97

1.00

0.93

0.87

0.93

1.13

0.39

0.92

13.13

12.96

13.83

13.64

14.39

15.61

14.88

15.38

10.64

0.42

3.28

0.32

2.65

5.12

0.02

1.72

2.82

6.77

-0.49

0.63

NA

MIDCAP

DEBT + CASH

LARGECAP

SMALLCAP

1.21

CRISILHybrid 35+65

(Aggressive Index)$




AUM: Allotment date: March 21, 2014

KOTAK MEDIUM TERM FUNDAn Open - Ended Debt Scheme

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



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

Ratios


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

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

Ideal Investment Horizon: 2.5 years & above


Exit Load: a) For redemption / switch out of upto 15% of the initial investment amount (limit) purchased or switched in within 18 months from the date of allotment: Nil.

b) If units redeemed or switched out are in excess of the limit within 18 months from the date of allotment: 2%.

c) If units are redeemed or switched out on or after 18 months from the date of allotment: Nil.


Investment Style:


`4,808.62 crs`4,801.17 crs

Mr. Deepak Agrawal*

PORTFOLIO


Kotak Medium Term Fund NAV as on February 28, 2018: `14.2339 (Growth Option), `14.7753 (Direct Growth Option),`10.5612 (Quarterly Dividend), ̀ 10.5853 (Direct Quarterly Dividend), ̀ 11.0347 (Annual Dividend), ̀ 14.8111 (Direct Annual Dividend).

$Standard Deviation

Modified Duration

Portfolio Yield

1.28%

2.22 yrs

9.75%

Product Label

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



Low

Medium

High

Maturity

Riskometer


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Debt InstrumentsDebentures and BondsCorporate Debt/Financial InstitutionsKarelides Traders Private Ltd. ( backed byunconditional and irrevocableundertaking by a wholly ownedsubsidiary of PiramalEnterprises Ltd ) ICRA AA-(SO) 5.90Reliance Jio Infocomm Ltd. CRISIL AAA 4.62Nuvoco Vistas Corporation Ltd.( 100 subsidiary of Nirma Ltd.) CRISIL AA 3.55Edelweiss CommoditiesServices Ltd. ICRA AA 3.13Adani Infra (India) Limited.( Secured by shares of Adani Port,Adani Enterprises & AdaniTransmissions) BRICKWORK BWR AA-(SO) 3.12HPCL Mittal Energy Ltd. ICRA AA 3.11Dalmia Cement (Bharat) Ltd ICRA AA 2.64Piramal Finance Limited ICRA AA 2.39Edelweiss Housing Finance Limited ICRA AA 2.32Dewan Housing FinanceCorporation Ltd. CARE AAA 2.19S D Corporation Private Ltd.( DSRA Guarantee from ShapoorjiPallonji and CompanyPrivate Limited) CARE AA+(SO) 2.11Suhani Trading and InvestmentConsultants Pvt Ltd ( Secured byEquity shares of Future Ratails Ltd &Future Lifestyle Fashions Ltd. ) BRICKWORK BWR A+(SO) 2.08Vizag General Cargo Berth Private Ltd.( backed by unconditional andirrevocable guarantee ofVedanta Ltd ) CRISIL AA(SO) 2.07Indiabulls Housing Finance Ltd. CARE AAA 1.99Nirma Ltd. CRISIL AA 1.75ECL Finance Limited ICRA AA 1.68HDFC Ltd. CRISIL AAA 1.66Prestige Estates Projects Limited ICRA A+ 1.57Igarashi Motors Sales Pvt. Ltd.( backed by unconditional andirrevocable undertaking byAxis Capital ) ICRA AAA(SO) 1.24Ananta Landmarks Pvt Ltd.( Kalpataru Group Company ) UNRATED 1.04Future Lifestyle Fashions Ltd. CRISIL AA- 1.02Essel Lucknow Raebareli Toll RoadsLimited ( Funding againstNHAI Annuity) CARE AAA 1.00Reliance Utilities And Power Pvt. Ltd.( Mukesh Ambani Group ) CRISIL AAA 0.95YES Bank Ltd. ICRA AA 0.90Birla Corporation Ltd. CARE AA 0.84Muthoot Finance Ltd. CRISIL AA 0.84Reliance Ports And Terminals Ltd.( Mukesh Ambani Group ) CRISIL AAA 0.83AU Small Finance Bank Ltd. FITCH IND AA- 0.55L & T Housing Finance Ltd. CARE AAA 0.51Talwandi Sabo Power Ltd.( Guaranteed by Vedanta Ltd.) CRISIL AA(SO) 0.51Bharti Telecom Ltd. CRISIL AA+ 0.42East-North InterconnectionCompany Limited ( Operationalpower transmission project ) CRISIL AAA(SO) 0.41ECL Finance Limited BRICKWORK BWR AA 0.40Janalakshami FinancialServices Ltd. ICRA A- 0.31Aarish Solar Power Ltd. ( Solarpower generating SPV of GreenkoGroup with offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30Aashman Energy Pvt. Ltd. ( Solarpower generating SPV of GreenkoGroup with offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30Divyesh Power Pvt. Ltd. ( Solarpower generating SPV of GreenkoGroup with offtaker as NTPC &secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30Elena Renewable Energy Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker asNTPC & secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30

Pratyash Renewable Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker asNTPC & secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30SEI Baskara Power Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker asNTPC & secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30SEI Enerstar Renewable Energy Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker asNTPC & secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30SEI Mihir Energy Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker asNTPC & secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30Shreyas Renwable Energy Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker asNTPC & secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30Zuvan Energy Pvt. Ltd.( Solar power generating SPV ofGreenko Group with offtaker asNTPC & secured by corporate guarantee ofGreenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.30Intime Properties Ltd. ( CommercialMortgage-Backed Securities ) FITCH IND AAA 0.29IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.21The Indian Hotels Company Ltd. CARE AA+ 0.16India Infoline Finance Limited ICRA AA 0.14Asirvad Microfinance Private Limited( 85 subsidiary of ManappuramFinance Ltd ) CRISIL A+ 0.11Bhopal Dhule TransmissionCompany Ltd. ( Operational powertransmission project ) CRISIL AAA 0.08Grand View Estates Pvt. Ltd.( backed by unconditional andirrevocable guarantee of ShapoorjiPallonji & Co Pvt Ltd ) ICRA AA 0.08LIC Housing Finance Ltd. CRISIL AAA 0.08Corporate Debt/Financial Institutions - Total 63.80Public Sector Undertakings U P Power Corporation Ltd( Guaranteed By UPState Government ) FITCH IND AA(SO) 4.97Punjab & Sind Bank ICRA A+ 3.80U P Power Corporation Ltd( Guaranteed By UPState Government ) CRISIL A+(SO) 3.55PNB Housing Finance Ltd. CARE AAA 3.42Punjab National Bank CARE AA- 2.69Syndicate Bank CARE AA- 1.85Oriental Bank of Commerce ICRA A 1.76U P Power Corporation Ltd( Guaranteed By UPState Government ) FITCH IND AA 1.25Union Bank of India CARE AA- 1.22Corporation Bank CRISIL A- 0.92IDBI Bank Ltd. ICRA BBB- 0.74Bank of India CRISIL A+ 0.54Union Bank of India FITCH IND AA 0.51Andhra Bank CRISIL AA- 0.47Bank of India BRICKWORK BWR AA- 0.47Bank of Maharashtra CARE CARE BBB+ 0.46Allahabad Bank CARE A+ 0.41Punjab National Bank BRICKWORK BWR AA 0.41Allahabad Bank FITCH IND A 0.34State Bank Of India. CRISIL AAA 0.23Steel Authority of India Ltd. FITCH IND AA- 0.05Public Sector Undertakings - Total 30.06Government Dated Securities 1.44% Central Government SOV 0.31Government Dated Securities - Total 0.31Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial InstitutionsIndiabulls Housing Finance Ltd. CRISIL A1+ 2.61Corporate Debt/Financial Institutions - Total 2.61Collateral Borrowing & Lending obligation 0.08Net Current Assets/(Liabilities) 3.14Grand Total 100.00

ALLOCATION (%)

RATING PROFILE (%)

30



93.86 3.14 2.61 0.31 0.08

Debentures and Bonds Net Current Assets Commercial Paper (CP)/Cer�ficate of Deposits (CD)

Government Dated Securi�es CBLO & Term Deposits & Rev.Repo

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

A+, A+(SO), BWR A+(SO), A, IND A, A- Net Current Assets BBB-, CARE BBB+ Unrated CBLO & Term Deposits & Rev.Repo

56.52 22.63 15.393.14

1.201.04

0.08



Benchmark: Crisil Composite Bond Fund Fund Manager: AAUM:

AUM: Allotment date: November 25, 1999

KOTAK BONDAn Open - Ended Debt Scheme

Investment ObjectiveTo 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. However, there is no assurance that the objective of the scheme will be realized.



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

Ratios

$Source: ICRAMFI Explorer. Standard

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





Exit Load: a) For redemptions/switch outs (including SIP/STP) within 3 months from the date of allotment of units: 0.20%

b) For redemptions/switch outs (includingSIP/STP) after 3 months from the date ofallotment of units: Nil

Note: The aforesaid revised exit load structure will be applicable only on a p r o s p e c t i v e b a s i s f o r U n i t s purchased/SIP/STP registered on or after February 22, 2018.


Investment Style:


`2,074.51 crs`2,052.28 crs

Mr. Abhishek Bisen*

PORTFOLIO

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 6.12 years.Kotak Bond Fund NAV as on February 28, 2018: `46.5278 (Growth Option), `48.3934 (Direct Growth Option),`10.4047 (Quarterly Dividend), ̀ 13.0968 (Direct Quarterly Dividend), ̀ 28.506 (Annual Dividend), ̀ 21.8731 (Direct Annual Dividend)

$Standard Deviation

Modified Duration

Portfolio Yield

3.34%

4.14 yrs

8.15%

Product Label


� 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.

Riskometer


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Debt Instruments





Tata Sons Ltd. CRISIL AAA 3.39

Reliance Jio Infocomm Ltd. CRISIL AAA 1.22

Reliance Utilities And Power

Pvt. Ltd. ( Mukesh Ambani Group) CRISIL AAA 0.96

Can Fin Homes Ltd. ICRA AAA 0.69


Hindalco Industries Ltd. CRISIL AA 0.02



Punjab National Bank CARE AA- 6.99




Rural Development FITCH IND AAA 2.43

United Bank Of India CRISIL AA- 2.09



( Guaranteed By UP















IndusInd Bank Ltd. CRISIL A1+ 10.28

HDFC Ltd. CRISIL A1+ 2.33


HDFC Ltd. CARE A1+ 1.19



PNB Housing Finance Ltd. CRISIL A1+ 2.38




Grand Total 100.00


Maturity

Low

Medium

High

Only buy something that you'd be perfectly happy to hold if themarket shut down for 10 years.

31


ALLOCATION (%)

RATING PROFILE (%)


47.37 30.53 17.38 4.56 0.16

Government Dated Securi�es Debentures and Bonds Commercial Paper (CP)/Cer�ficate of Deposits (CD)


85.17 9.40 4.56 0.71 0.16

A1+, AAA, IND AAA, SOV AA, IND AA(SO), AA- Net Current Assets IND A CBLO & Term Deposits & Rev.Repo



Benchmark: ISEC Composite Fund Manager: AAUM:

AUM: Allotment date: Regular Plan - December 29, 1998;PF & Trust Plan - November 11, 2003

KOTAK GILT INVESTMENTAn Open - Ended Debt Scheme

Investment ObjectiveTo 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. However, there is no assurance that the objective of the scheme will be realized.

Available Plans/OptionsA) Regular Non Direct Plan,

B) PF & Trust Non Direct Plan,

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


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

Ratios





Load StructureEntry Load: (a) Regular Plan - Entry: Nil. (b) PF & Trust Plan - Entry: Nil. (applicable for all plans)

Exit Load: (a) Regular Plan - Exit: Nil. (b) PF&Trust Plan - Exit: Nil. (applicable for all plans)


Investment Style:


`586.46 crs`567.69 crs

Mr. Abhishek Bisen*

PORTFOLIO

Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 7.98 years.

Kotak Gilt Investment Fund NAV as on February 28, 2018: `56.6362 (Regular-Growth), `59.5937 (Regular-Growth-Direct),`12.6199 (Quarterly-Dividend), `13.4554 (Quarterly-Dividend Direct), `57.9426 (PF & Trust-Growth), `61.0216 (PF & Trust-Growth Direct), `11.2818 (PF & Trust-Quarterly Dividend ),

Product Label

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.


Riskometer


yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


Maturity

Low

Medium

High

Government Dated Securities 6.79% Central Government SOV 34.346.68% Central Government SOV 20.627.17% Central Government SOV 16.958.79% Central Government SOV 1.857.73% State Government SOV 1.748.27% State Government SOV 0.898.21% State Government SOV 0.638.52% State Government SOV 0.638.45% State Government SOV 0.547.7% State Government SOV 0.527.86% State Government SOV 0.35

7.29% State Government SOV 0.338.72% State Government SOV 0.278.43% State Government SOV 0.188.53% State Government SOV 0.188.39% State Government SOV 0.07Government Dated Securities - Total 80.09Treasury Bills 91 Days Treasury Bill 01/03/2018 SOV 14.97Treasury Bills - Total 14.97Collateral Borrowing & Lending obligation 3.10Net Current Assets/(Liabilities) 1.84Grand Total 100.00

$Standard DeviationA)Regular P lan,B) PF & Trust Plan

Modified Duration

Portfolio Yield

4.05%4.05%

5.36 yrs

7.62%

ALLOCATION (%)

RATING PROFILE (%)

We don't have to be smarter than the rest.We have to be more disciplined than the rest.

32



80.09 14.97 3.10 1.84

Government Dated Securi�es Treasury Bills CBLO & Term Deposits & Rev.Repo Net Current Assets

95.06 3.10 1.84

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



Benchmark: CRISIL Hybrid 85+15 - Conservative Index $


Allotment date: December 02, 2003

KOTAK MONTHLY INCOME PLAN

Investment ObjectiveTo enhance returns over a portfolio of Debt Instruments with a moderate exposure in Equity and Equity related Instruments. However, there is no assurance that the objective of the scheme will be realized.Available Plans/OptionsA) Regular Plan B) Direct PlanOptions: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans)Dividend FrequencyMonthly (12th of every Month) Quarterly (20th of Mar/Jun/Sep/Dec)Ratios

$Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Minimum Investment AmountInitial Investment: (i) Dividend Re-investment & Growth and Dividend Payout (Quarterly) - `5000 & above (ii) Dividend Payout (Monthly) - `50,000 & above Additional Investment: ̀ 1000 & in multiples of ̀ 1Ideal Investments Horizon - 1 year & aboveLoad StructureEntry Load: Nil. (applicable for all plans)Exit Load: a) For redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil. b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%.c) If units are redeemed or switched out on or after 1 year from the date of allotment: Nil.


Investment Style:


`381.28 crs`375.33 crs

Mr. Devender Singhal & Mr. Abhishek Bisen*

PORTFOLIO

Note: Term Deposit as provided above is towards margin for derivatives transactions.Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments 4.41 years.Kotak Monthly Income Plan Fund NAV as on February 28, 2018: `29.3788 (Growth Option), `30.9283 (Direct Growth Option),`12.5675 (Monthly Dividend), ̀ 12.9770 (Direct Monthly Dividend), ̀ 13.9629 (Quarterly Dividend), ̀ 14.5402 (Direct Quarterly Dividend)

Product Label

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

moderate exposure in equity & equity related instruments* Investors should consult their financial advisors if in doubtabout whether the product is suitable for them.

Riskometer


yletaredo

M

Moderate

Low

Low

High

LOW HIGH

Moderately

$Standard Deviation

Modified Duration

Portfolio Yield

3.44%

2.96 yrs

8.40%

An Open Ended Income Scheme. Monthly Income is not assured & is subject to availability of distributable surplus

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

ITC Ltd. Consumer Non Durables 1.91

Tata Motors Ltd. Auto 1.29

Sun TV Limited. Media and Entertainment 1.01

Bata India Ltd. Consumer Durables 0.99

ICICI Bank Ltd. Banks 0.92

Mahindra & Mahindra Ltd. Auto 0.80

GlaxoSmithkline Consumer

Healthcare Ltd Consumer Non Durables 0.73

Britannia Industries Ltd. Consumer Non Durables 0.68

RBL Bank Ltd Banks 0.67

Jubilant Foodworks Limited Consumer Non Durables 0.60

Bank Of Baroda Banks 0.57

Manpasand Beverages Ltd. Consumer Non Durables 0.52

TV18 Broadcast Ltd Media and Entertainment 0.52

Huhtamaki PPL Ltd Industrial Products 0.51

Galaxy Surfactants Ltd Chemicals 0.50

Godfrey Phillips India Ltd. Consumer Non Durables 0.49

Prataap Snacks Ltd Consumer Non Durables 0.49

City Union Bank Ltd. Banks 0.47

Saregama India Ltd. Media and Entertainment 0.47

Schaeffler India Ltd Industrial Products 0.45

HDFC Ltd. Warrants Finance 0.43

Apollo Micro Systems Ltd Industrial Capital Goods 0.41

Heritage Foods Ltd Consumer Non Durables 0.38

Tata Communications Ltd Telecom - Services 0.36

V.S.T Tillers Tractors Ltd Auto 0.35

GP Petroleums Limited Petroleum Products 0.32

JMC Projects (India) Ltd Construction 0.32

Apollo Tyres Ltd. Auto Ancillaries 0.30

Capacite Infraprojects Limited Construction 0.29

MRF Limited Auto Ancillaries 0.29

H G Infra Engineering Ltd. Construction and Engineering 0.27

Amber Enterprises India Ltd Consumer Durables 0.25

GMR Infrastructure Ltd. Construction Project 0.24

Bombay Burmah Trading

Corporation Ltd. Consumer Non Durables 0.22

The Ramco Cements Ltd Cement 0.22

Hero MotoCorp Ltd. Auto 0.20

JK Tyre & Industries Ltd. Auto Ancillaries 0.20

OCL India Ltd Cement 0.16

Listed/Awaiting Listing on Stock Exchange - Total 19.80

Preference Shares

Listed/Awaiting listing on Stock Exchange

7.5% Vedanta Reedemable

Preference Shares Non - Ferrous Metals 1.41

Listed/Awaiting listing on Stock Exchange - Total 1.41

Debt Instruments




Hindalco Industries Ltd. CRISIL AA 0.19

Mahindra & Mahindra

Financial Services Ltd. FITCH IND AAA 0.03




Punjab & Sind Bank ICRA A+ 6.76



Vijaya Bank ICRA AA- 3.27


( Guaranteed By UP

State Government ) CRISIL A+(SO) 2.88

Syndicate Bank CARE AA- 1.85


( Guaranteed By UP


Bank of India CRISIL A+ 1.38










TERM DEPOSITS

AXIS Bank Ltd. 0.23

Term Deposits - Total 0.23



Grand Total 100.00

Style

ALLOCATION (%)

RATING PROFILE (%)

High

Cash combined with courage in a time of crisis is priceless.


Large

Mid

Small

33


$ The existing benchmark "CRISIL MIP Blended " has been renamed as "CRISIL Hybrid 85+15 - Conservative Index" as per communication received from CRISIL. * For Fund Manager experience, please refer page 53-54.**Total Expense Ratio excludes applicable B15 fee and service tax. For scheme performance, please refer page no 44-52. For last three dividends, please refer page no 55-57

33.91 29.04 21.21 13.03 2.81

Debentures and Bonds Government Dated Securi�es

Equi�es CBLO & Term Deposits & Rev.Repo Net Current Assets

36.38 21.21 19.77 13.03 6.80 2.81

AAA, IND AAA, SOV Equi�es A+, A+(SO), IND A

CBLO & Term Deposits & Rev.Repo AA, IND AA(SO), AA- Net Current Assets

Details of exposure across all Debt Funds of Kotak Mahindra Mutual Fund as on February 28, 2018

Issuer Name%age of Exposure

to Debt AUM $ Issuer Name%age of Exposure

to Debt AUM $AU Small Finance Bank Ltd. 0.25AXIS Bank Ltd. 3.38AXIS Finance Ltd. 0.25Aarish Solar Power Ltd. ( Solar power generating SPV ofGreenko Group with offtaker as NTPC & secured bycorporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04Aasan Corporate Solutions Private Limited( Guaranteed by a Piramal Group Company ) 0.09Aashman Energy Pvt. Ltd. ( Solar power generating SPV ofGreenko Group with offtaker as NTPC & secured bycorporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04Adani Infra (India) Limited. ( Secured by shares of Adani Port,Adani Enterprises & Adani Transmissions) 0.32Adani Ports and Special Economic Zone Limited 0.01Aditya Birla Fashion and Retail Ltd. 0.14Aditya Birla Finance Ltd. 0.94Aditya Birla Housing Finance 0.38Allahabad Bank 0.28Altico Capital India Pvt Ltd 0.04Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) 0.13Andhra Bank 0.53Asirvad Microfinance Private Limited( 85% subsidiary of Manappuram Finance Ltd ) 0.05Aspire Home Finance Corporation Ltd 0.09Azim premji Trust 0.12BMW India Financial Services Private Limited 0.06Bajaj Capital Ventures Pvt. Ltd. ( Secured byEquity shares of Bajaj Corp. Ltd ) 0.10Bajaj Finance Ltd. 3.20Bajaj Housing Finance Ltd. 0.08Bank Of Baroda 0.71Bank of India 0.10Bank of Maharashtra 0.03Bharti Telecom Ltd. 3.78Bhopal Dhule Transmission Company Ltd.( Operational power transmission project ) 0.25Birla Corporation Ltd. 0.05Birla TMT Holding Private Limited( Holding Company for Aditya Birla Group ) 0.06CBLO/REVERSE REPO 2.64Can Fin Homes Ltd. 0.02Canara Bank 0.07Central Government 6.22Chambal Fertilisers & Chemicals Ltd. 0.38Cholamandalam Investment and Finance Company Ltd. 0.01Citicorp Finance (India) Ltd. 0.06Continental Drug Company P Ltd ( Secured by Equityshares of Zee Entertainment Enterprises Ltd ) 0.31Corporation Bank 0.12Dalmia Cement (Bharat) Ltd 0.25Dewan Housing Finance Corporation Ltd. 0.75Divyesh Power Pvt. Ltd. ( Solar power generating SPV ofGreenko Group with offtaker as NTPC &secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04ECL Finance Limited 0.67East-North Interconnection Company Limited( Operational power transmission project ) 0.04Edelweiss Agri Value Chain Ltd. ( Unconditional andirrevocable guarantee from Edelweiss Financial Services Limited) 0.36Edelweiss Commodities Services Ltd. 0.38Edelweiss Commodities Services Ltd. (Put options on ECL Finance) 0.44Edelweiss Housing Finance Limited 0.25Edisons Utility Works Pvt.Ltd. ( Secured byEquity shares of Zee Entertainment Enterprises Ltd ) 0.16Elena Renewable Energy Pvt. Ltd. ( Solar power generating SPV ofGreenko Group with offtaker as NTPC & secured bycorporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04Essel Lucknow Raebareli Toll Roads Limited( Funding against NHAI Annuity) 0.06Essel Mining & Industries Ltd. 0.12Export-Import Bank of India 1.48Fullerton India Credit Co. Ltd. 0.13Future Lifestyle Fashions Ltd. 0.12GIC Housing Finance Ltd. 0.19Grand View Estates Pvt. Ltd. ( backed by unconditional andirrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.24Grasim Industries Ltd. 0.50Gruh Finance Ltd. 1.14HDB Financial Services Ltd. 0.22HDFC Bank Ltd. 0.23HDFC Ltd. 5.23HPCL Mittal Energy Ltd. 0.74High Point Properties Pvt. Ltd. ( backed by unconditional andirrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.11Hindalco Industries Ltd. 0.00Hinduja Leyland Finance Ltd. 0.13ICICI Bank Ltd. 0.49ICICI Home Finance Company Limited 0.39IDBI Bank Ltd. 0.04IDFC Bank Limited 1.61IIFL Wealth Finance Ltd. 0.25IL & FS Financial Services Ltd. 0.32IL & FS Transportation Networks Ltd.( Corporate Guarantee from IL & FS Ltd. ) 0.10IOT Utkal Energy Services Ltd. 0.08IPCA Laboratories Ltd. 0.06Igarashi Motors Sales Pvt. Ltd.( backed by unconditional and irrevocable undertaking by Axis Capital ) 0.08India Infoline Finance Limited 0.20India Infoline Housing Finance Ltd. 0.25Indiabulls Housing Finance Ltd. 1.94Indian Oil Corporation Ltd. 0.02Indian Railway Finance Corporation Ltd. 0.11Indostar Capital Finance Limited 0.17IndusInd Bank Ltd. 0.85Intime Properties Ltd. ( Commercial Mortgage-Backed Securities ) 0.09JM Financial Products Limited 0.06JM Financial Properties & Holdings Ltd. 0.06Janalakshami Financial Services Ltd. 0.06Jyothy Fbricare Services Limited ( Guarrented By Jyothi Laboratories Ltd ) 0.08Karelides Traders Private Ltd. ( backed by unconditional andirrevocable undertaking by a wholly ownedsubsidiary of Piramal Enterprises Ltd ) 1.40Karnataka Bank Ltd 0.50Konkan Railway Corporation Ltd. 0.02Kotak Mahindra Investments Ltd. 0.22Kotak Mahindra Prime Ltd. 0.83

Industry / Sector %age of Exposure to Debt AUM $

BANK 11.61CASH(CBLO/REVERSE REPO) 2.64CORPORATES 34.59FINANCIAL SERVICES 26.09GOI/TBILLS 9.53NBFC 15.16REAL ESTATE 0.38Total 100.00$ - Includes Hybrid schemes - debt schemes having equity exposure

34

L & T Finance Ltd. 0.29L & T Housing Finance Ltd. 0.41L & T Infrastructure Finance Company Ltd. 0.25LIC Housing Finance Ltd. 2.93Larsen and Toubro Ltd. 0.44MA Multi Trade Pvt Ltd ( Secured by Equity shares of Bajaj Corp. Ltd ) 0.10Mahindra & Mahindra Financial Services Ltd. 1.54Manappuram Finance Ltd. 0.83Muthoot Capital Services Ltd. 0.06Muthoot Finance Ltd. 1.52Muthoot Fincorp Ltd. 0.04Nabha Power Ltd. ( Backed by Letter of Comfort from L&T ) 0.57Nabha Power Ltd. ( backed by unconditional andirrevocable guarantee by Larsen & Toubro Ltd ) 1.44National Bank for Agriculture & Rural Development 4.05National Housing Bank 0.16Nirma Ltd. 0.62Nuvoco Vistas Corporation Ltd. ( 100% subsidiary of Nirma Ltd.) 0.55ONGC Manglore Petrochemicals Ltd. 0.82Oriental Bank of Commerce 0.31PNB Housing Finance Ltd. 1.00Piramal Enterprises Ltd. 1.78Piramal Finance Limited 0.38Power Finance Corporation Ltd. 2.30Power Grid Corporation of India Ltd. 0.28Powergrid Vizag Transminssion Ltd. ( backed byunconditional and irrevocable guarantee by Powergrid Corp ) 0.03Pratyash Renewable Pvt. Ltd. ( Solar power generating SPV ofGreenko Group with offtaker as NTPC &secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04Prestige Estates Projects Limited 0.25Punjab & Sind Bank 0.49Punjab National Bank 0.49Reliance Industries Ltd. 4.02Reliance Infrastructure Ltd. ( Backed by SBLC of ICICI Bank) 0.48Reliance Jio Infocomm Ltd. 3.31Reliance Jio Infocomm Ltd. ( Irrevocably andunconditionally guaranteed by Reliance Industries ) 0.08Reliance Ports And Terminals Ltd. ( Mukesh Ambani Group ) 0.13Reliance Utilities And Power Pvt. Ltd. ( Mukesh Ambani Group ) 0.28Rural Electrification Corporation Ltd. 1.08S D Corporation Private Ltd. ( DSRA Guarantee fromShapoorji Pallonji and Company Private Limited) 0.66S D Corporation Private Ltd. ( Guarantee byShapoorji Pallonji & Company Ltd ) 0.04SBK Properties Pvt Ltd. ( Guaranteed by a Kalyani Group company ) 0.05SEI Baskara Power Pvt. Ltd. ( Solar power generating SPV ofGreenko Group with offtaker as NTPC &secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04SEI Enerstar Renewable Energy Pvt. Ltd. ( Solar powergenerating SPV of Greenko Group with offtaker asNTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04SEI Mihir Energy Pvt. Ltd. ( Solar power generating SPV ofGreenko Group with offtaker as NTPC & secured bycorporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04SP Jammu Udhampur Highway Ltd. ( backed by unconditionaland irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.00Sahyadri Agencies Ltd ( Secured byEquity shares of Jyothy Laboratories Ltd. ) 0.09Sarvoday Advisory Services Pvt. Ltd. ( Secured byEquity shares of JSW Energy Ltd. and JSW Steel Ltd. ) 0.51Shapoorji Pallonji Energy Gujarat Pvt. Ltd.( backed by unconditional and irrevocable guarantee ofShapoorji Pallonji & Co Pvt Ltd ) 0.08Shapoorji Pallonji Finance Private Limited 0.03Shapoorji Pallonji and Company Pvt. Ltd. 0.06Shreyas Renwable Energy Pvt. Ltd. ( Solar powergenerating SPV of Greenko Group with offtaker asNTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04Shriram City Union Finance Ltd. 0.14Shriram Transport Finance Co Ltd. 0.40Small Industries Development Bank Of India 0.81Sneha Abasan Pvt Ltd ( Secured by Equity shares of Emami Ltd ) 0.05Sneha Enclave Pvt Ltd ( Secured by Equity shares of Emami Ltd ) 0.03Standard Chartered Investment & Loan India Ltd. 0.03State Bank Of India. 0.16State Government 3.30Steel Authority of India Ltd. 0.24Suhani Trading and Investment Consultants Pvt Ltd( Secured by Equity shares of Future Ratails Ltd &Future Lifestyle Fashions Ltd. ) 0.38Sundaram BNP Paribas Home Finance Ltd 0.16Sundaram Finance Ltd. 0.11Suraksha Realty Ltd ( Secured by Equity shares ofSun Pharmaceuticals Industries Ltd ) 1.04Syndicate Bank 0.30TV18 Broadcast Ltd 0.06Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) 0.03Tata Capital Financial Services Limited 0.68Tata Capital Housing Finance Ltd. 0.27Tata Communication Payment Solutions Ltd. 0.06Tata Motors Finance Ltd 0.65Tata Power Company Ltd. 0.37Tata Sons Ltd. 0.56Tata Steel Ltd. 0.39The Indian Hotels Company Ltd. 0.01Torrent Pharmaceuticals Ltd. 0.63Trapti Trading & Investments Private Limited( Holding Company for Aditya Birla Group) 0.13Turquoise Investments and Finance Private Limited( Holding Company for Aditya Birla Group) 0.06U P Power Corporation Ltd ( Guaranteed By UP State Government ) 1.83Union Bank of India 0.26United Bank Of India 0.18Varun Beverages Limited 0.19Vedanta Ltd. 1.43Vijaya Bank 0.05Vizag General Cargo Berth Private Ltd.( backed by unconditional and irrevocable guarantee of Vedanta Ltd ) 0.13YES Bank Ltd. 0.18Zuvan Energy Pvt. Ltd. ( Solar power generating SPV ofGreenko Group with offtaker as NTPC & secured bycorporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04Total 100.00



$ The existing benchmark �CRISIL Balanced Fund� has been renamed as �CRISIL Hybrid 35+65 - Aggressive Index� as per communication received from CRISIL. * For Fund Manager experience, please refer page 53-54.**Total Expense Ratio excludes applicable B15 fee and service tax. For scheme performance, please refer page no 44-52

Benchmark: CRISIL Hybrid 35+65 - Aggressive Index $

Fund Manager:

Allotment date: August 9, 2004KOTAK ASSET ALLOCATOR FUND

Investment ObjectiveThe 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.

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

Dividend FrequencyTrustee�s Discretion

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

Load StructureEntry Load: Nil. (applicable for all plans)Exit Load: a) 1% if exit before 1 year from date of allotment. b) Nil if exit after 1 year from the date of allotment.

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

Exit Load shall not be applicable: Incase of switch from Regular Plan

( w h e r e n o b r o k e r c o d e i s mentioned) to Direct Plan

In case of switch from Direct Plan to Regular Plan.



AAUM: AUM:

`32.96 crs`33.13 crs

Mr. Deepak Gupta*



PORTFOLIO

Equity & Equity related (Listed/Awaiting listing on Stock Exchange)Mutual Fund Units Kotak Treasury AdvantageFund Direct Growth Debt Scheme 60.73Kotak Bond Direct Plan Growth Debt Scheme 18.54Kotak Select Focus

Fund Direct Growth Equity Scheme 10.08Kotak Liquid Direct Plan Growth Debt Scheme 8.62

Mutual Fund Units - Total 97.97Net Current Assets/(Liabilities) 2.03Grand Total 100.00

Product Label

Investors understand that their principal will be at moderately High Risk

Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

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

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

Kotak Asset Allocator Fund NAV as on February 28, 2018: `73.252 (Dividend Option), `75.380 (Direct Dividend Option), `75.254 (Growth Option), `76.761 (Direct Growth Option)


If you are not willing to own a stock for 10 years,do not even think about owning it for 10 minutes.

Investment Style

Style


Large

Mid

Small

35

Folio Count : 2,364

87.89 10.08 2.03

Debt Scheme Equity Scheme Others



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


Allotment date: December 20, 2013KOTAK US EQUITY FUNDAn Open Ended Fund of Funds Scheme Investing OverseasInvestment Objective

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.




Dividend Reinvestment &

Growth (applicable for all plans)

Dividend Frequency





Ideal Investment Horizon: 3 years & above

Load Structure


Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%;



Investment Style:


`4.55 crs`4.59 crs

Mr. Deepak Gupta*


PORTFOLIO


Mutual Fund Units

Pinebridge US Large Cap

Research Enhance Fund Overseas Mutual Fund 85.66

Mutual Fund Units - Total 85.66


Grand Total 100.00

Product Label

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.



Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Kotak US Equity Fund NAV as on February 28, 2018: `15.103 (Dividend Option), `15.599 (Direct Dividend Option), `15.100 (Growth Option), ̀ 15.596 (Direct Growth Option)

Understand the �nancial risks of all contracts and make sure these risks areprotected before you sign. This can often mean getting an

expert to advise you on the risks.

Style


Large

Mid

Small

36



Folio Count: 479

Overseas Mutual Fund Others

85.66 14.34



Benchmark: MSCI Emerging Market

Fund Manager:

AAUM: AUM: Allotment date: September 26, 2007KOTAK GLOBAL EMERGING MARKET FUND



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. However, there is no assurance that the objective of the scheme will be realized.






Dividend Frequency






Load Structure


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

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


Investment Style:


`31.38 crs`32.07 crs

Mr. Deepak Gupta (Dedicated fund manager for FundManagers overseas investment) & Mr.Abhishek Bisen*


PORTFOLIO


Mutual Fund Units

MGF Asian Small Equity

Fund Class I Overseas Mutual Fund 70.13

ishares MSCI Emerging

Markets ETF Overseas Mutual Fund 25.92




Grand Total 100.00

Product Label

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



Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Kotak Global Emerging Market Fund NAV as on February 28, 2018: `17.268 (Dividend Option), `18.078 (Direct Dividend Option), `17.268 (Growth Option), ̀ 17.994 (Direct Growth Option)

It is not the creation of wealth that is wrong, but the love of money for its own sake�Margaret Thatcher, former UK Prime Minister

Style


Large

Mid

Small

37



Folio Count: 7,490

96.05 3.56

Overseas Mutual Fund CBLO & Term Deposits & Rev.Repo Others

0.39



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


Allotment date: June 06, 2008KOTAK WORLD GOLD FUNDAn Open � Ended Fund of Funds Scheme


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.






Dividend Frequency






Load Structure


Exit Load:

a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%;



Investment Style:


`35.56 crs`34.27 crs

Mr. Deepak Gupta*


PORTFOLIO


Mutual Fund Units

Falcon Gold Equity ASIA Overseas Mutual Fund 99.72



Grand Total 100.00

Product Label

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 product ion, process ing and market ing companies



Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Kotak World Gold Fund NAV as on February 28, 2018: `6.814 (Dividend Option), `7.092 (Direct Dividend Option), `8.220 (Growth Option), ̀ 8.534(Direct Growth Option)

Buy when everyone else is selling and hold until everyone else is buying.That's not just a catchy slogan. It's the very essence of successful investing

�J. Paul Getty

Style


Large

Mid

Small

38



Folio Count: 12,597

99.72 0.28

Overseas Mutual Fund Others


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. However, there is no assurance that the investment objective of the Scheme will be realized.

Available Plan

Regular Plan


Through Exchange:10 Units,

Through AMC: 10000 Units,

Ideal Investment Horizon: 3 years and above

Load Structure




Regular: 1.00%

7

Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately


* For Fund Manager experience, please refer page 53-54.**Total Expense Ratio excludes applicable B15 fee and service tax. For scheme performance, please refer page no 44-52



PORTFOLIO

Benchmark: Price of GoldFund Manager: Mr. Abhishek Bisen* AAUM: `405.84 crs

AUM: `401.56 crsAllotment date: July 27, 2007

KOTAK GOLD ETFAn Open Ended Gold Exchange Traded Fund (As on February 28, 2018)

Equity & Equity related (Listed/Awaiting listing on Stock

Exchange)

Gold Fineness99.5 Gold 99.75



Grand Total 100.00

NAV

Kotak Gold ETF NAV as on February 28, 2018: ̀ 272.0172

Tracking Error: 0.06%

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.

Valuing a business is part art and part science.

39

0.25

Gold Others

99.75


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. However, there is no assurance that the investment objective of the Scheme will be realized.

Available Plan

Regular Plan

Ratios


Through Exchange:1 Unit,



Load Structure




Regular: 0.14%

7

Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately




PORTFOLIO

Benchmark: Nifty 50Fund Manager: Mr. Deepak Gupta* AAUM: `531.23 crs

AUM: `535.69 crsAllotment date: February 2, 2010

KOTAK NIFTY ETFAn Open Ended Exchange Traded Fund[Eligible scheme under Rajiv Gandhi Equity Savings Scheme (RGESS)]

NAV

Portfolio Turnover:

Tracking Error:

68.01%

0.08%

* For Fund Manager experience, please refer page 53-54. **Total Expense Ratio excludes applicable B15 fee. For scheme performance, please refer page no 44-52. For last three dividends, please refer page no 55-57


HDFC Bank Ltd. Banks 9.50

Reliance Industries Ltd. Petroleum Products 8.11

HDFC Ltd. Finance 7.12

Infosys Ltd. Software 5.78



Larsen And Toubro Ltd. Construction Project 4.01

Tata Consultancy Services Ltd. Software 3.72

Kotak Mahindra Bank Ltd. Banks 3.58

Maruti Suzuki India Limited Auto 2.90

State Bank Of India Banks 2.45

Hindustan Unilever Ltd. Consumer Non Durables 2.32

IndusInd Bank Ltd. Banks 2.11

Axis Bank Ltd Banks 2.07



Vedanta Ltd. Non - Ferrous Metals 1.51

Sun Pharmaceuticals

Industries Ltd. Pharmaceuticals 1.46

Yes Bank Ltd Banks 1.46

Bharti Airtel Ltd. Telecom - Services 1.39

Oil & Natural Gas

Corporation Ltd. Oil 1.31

HCL Technologies Ltd. Software 1.29

Tata Steel Limited. Ferrous Metals 1.29

Asian Paints Ltd. Consumer Non Durables 1.24

National Thermal Power

Corporation Limited Power 1.23


Power Grid Corporation Of

India Ltd Power 1.07

Ultratech Cement Ltd. Cement 1.07

Bajaj Auto Ltd. Auto 1.01

Indiabulls Housing Finance Ltd. Finance 1.00

Coal India Ltd. Minerals/Mining 0.99

Bajaj Finance Limited Finance 0.96

Indian Oil Corporation Ltd Petroleum Products 0.95

Tech Mahindra Ltd. Software 0.94

Eicher Motors Ltd Auto 0.90

Hindalco Industries Ltd Non - Ferrous Metals 0.88

Bharat Petroleum

Corporation Ltd. Petroleum Products 0.83

Wipro Ltd. Software 0.82

Adani Port and Special

Economic Zone Limited Transportation 0.77

Zee Entertainment

Enterprises Ltd Media and Entertainment 0.76

Cipla Ltd. Pharmaceuticals 0.74

GAIL (India) Ltd. Gas 0.73

Hindustan Petroleum

Corporation Ltd Petroleum Products 0.70

Dr Reddys Laboratories Ltd Pharmaceuticals 0.67

Bharti Infratel Ltd. Telecom - Equipment & Accessories 0.66

UPL Ltd Pesticides 0.66

Lupin Ltd. Pharmaceuticals 0.48

Ambuja Cements Ltd Cement 0.46

Aurobindo Pharma Ltd. Pharmaceuticals 0.43

Bosch Limited Auto Ancillaries 0.42



Grand Total 100.00

Kotak Nifty ETF NAV as on February 28, 2018: ̀ 106.3103

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.

Investing regularly can help your money grow, not savings alone

40


26.13 12.55 10.59 9.32 9.14 9.08 4.01

3.78

2.39

2.30

10.71

Banks Software Petroleum Products AutoConsumer Non Durables Finance Construction Project PharmaceuticalsNon - Ferrous Metals Power Others


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. However, there is no assurance that the investment objective of the Scheme will be realized.

Available Plan

Regular Plan

Ratios





Load Structure




Regular: 0.29%

7

Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

ModeratelySECTOR ALLOCATION (%)



PORTFOLIO

Benchmark: S&P BSE SENSEXFund Manager: Mr. Deepak Gupta* AAUM: ` crs 11.87

AUM: ` crs11.83Allotment date: June 6, 2008

KOTAK SENSEX ETFAn Open Ended Exchange Traded Fund[Eligible scheme under Rajiv Gandhi Equity Savings Scheme (RGESS)]

NAV

Portfolio Turnover:

Tracking Error:

16.48%

0.11%



Reliance Industries Ltd. Petroleum Products 9.14

HDFC Ltd. Finance 8.59

Infosys Ltd. Software 6.97



Larsen And Toubro Ltd. Construction Project 4.78

Tata Consultancy Services Ltd. Software 4.49


Maruti Suzuki India Limited Auto 3.50



Hindustan Unilever Ltd. Consumer Non Durables 2.79





Sun Pharmaceuticals

Industries Ltd. Pharmaceuticals 1.72

Oil & Natural Gas

Corporation Ltd. Oil 1.58

Tata Steel Limited. Ferrous Metals 1.55

Asian Paints Ltd. Consumer Non Durables 1.50

National Thermal Power

Corporation Limited Power 1.48

Bharti Airtel Ltd. Telecom - Services 1.42


Power Grid Corporation Of

India Ltd Power 1.30

Bajaj Auto Ltd. Auto 1.22

Coal India Ltd. Minerals/Mining 1.20

Wipro Ltd. Software 1.02

Adani Port and Special

Economic Zone Limited Transportation 0.95

Dr Reddys Laboratories Ltd Pharmaceuticals 0.80

Tata Motors Ltd - DVR Auto 0.31



Grand Total 100.00

Kotak Sensex ETF NAV as on February 28, 2018: ̀ 345.9408



Try to learn from your mistakes - better yet, learn from the mistakes of others!

41



31.30 12.48 11.00 10.50 9.14 8.59 4.782.78

2.521.58

5.33

Banks Software Consumer Non Durables Auto Petroleum Products Finance

Construction Project Power Pharmaceuticals Oil Others


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 scheme will be achieved.

Available Plan/Options

Regular Plan

Option - Dividend Payout

Ratios





Load Structure




Regular: 0.20%

7




PORTFOLIO

Benchmark: Nifty BankFund Manager: Mr. Deepak Gupta* AAUM: `3,783.02 crs

AUM: `3,676.59 crsAllotment date: December 04, 2014

KOTAK BANKING ETFAn Open Ended Exchange Traded Fund

NAVKotak Banking ETF NAV as on February 28, 2018: ̀ 256.0712











Federal Bank Ltd. Banks 1.66


Punjab National Bank Banks 0.95

IDFC Bank Limited Banks 0.61

Canara Bank Banks 0.54



Grand Total 100.00

Banks

99.96

It is never your thinking that makes money,it is your investing in the market that makes money.

42

Portfolio Turnover:

Tracking Error:

27.62%

0.07%



Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

0.04

Others


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. However, there is no assurance that the investment objective of the Scheme will be realized.

Available Plan

Regular Plan

Ratios





Load Structure




Regular: 0.49%

7




PORTFOLIO

Benchmark: Nifty PSU BankFund Manager: Mr. Deepak Gupta* AAUM: `124.63 crs

AUM: `119.66 crsAllotment date: November 8, 2007

KOTAK PSU BANK ETFAn Open Ended Exchange Traded Fund

NAV

Portfolio Turnover:

Tracking Error:

125.26%

0.24%

Kotak PSU Bank ETF NAV as on February 28, 2018: ̀ 308.6004






Punjab National Bank Banks 7.06

Canara Bank Banks 4.06

Union Bank Of India Banks 2.65

Industrial Development

Bank of India Ltd. Banks 2.63

Bank of India Banks 2.11

Indian Bank Banks 1.91

Syndicate Bank Banks 1.57

Oriental Bank of Commerce Banks 0.97

Allahabad Bank. Banks 0.84

Andhra Bank Banks 0.80



Grand Total 100.00

99.95 0.05

Banks Others

Time is a friend of a wonderful business, and enemy of the mediocre

43



Product Label


Riskometer

yletaredo

M

Moderate

Low

High

Low

High

LOW HIGH

Moderately

Scheme Performances as on February 28, 2018

45

Kotak 50 - Dividend

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

Kotak 50 - Dividend Nifty 50 TRI# S&P BSE SENSEX TRI##

Since Inception 19.39% 15.45% 14.34% 299,231 157,267 130,793

Last 1 Year 15.79% 19.75% 20.46% 11,579 11,975 12,046

Last 3 Years 7.45% 7.21% 6.85% 12,412 12,327 12,204

Last 5 Years 15.62% 14.41% 14.28% 20,668 19,609 19,496

Kotak Classic Equity Fund - Growth

Scheme Inception date is 27/07/2005. Mr. Deepak Gupta has been managing the fund since 01/01/2017.

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

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

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

Kotak Opportunities - Growth

Scheme Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012.




Kotak Select Focus Fund - Growth

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

44

Kotak 50 - Dividend Nifty 50 TRI# S&P BSE SENSEX TRI##

Kotak Classic EquityFund - Growth Nifty 100 TRI# Nifty 50 TRI## Kotak Classic Equity

Fund - Growthty 50 TRINifty 100 TRI# Nifty 50 TRI##

Since Inception 13.27% 14.60% 14.12% 48,074 55,705 52,806

Last 1 Year 22.27% 20.13% 19.75% 12,227 12,013 11,975

Last 3 Years 9.00% 8.57% 7.21% 12,956 12,802 12,327

Last 5 Years 15.98% 15.66% 14.41% 20,992 20,709 19,609

Kotak Opportunities -Growth Nifty 500 TRI# Nifty 50 TRI## Kotak Opportunities -

GrowthNifty 500 TRI# Nifty 50 TRI##

Since Inception 19.86% 16.52% 16.15% 114,992 78,517 75,276

Last 1 Year 17.51% 21.70% 19.75% 11,751 12,170 11,975

Last 3 Years 11.10% 9.99% 7.21% 13,721 13,314 12,327

Last 5 Years 19.63% 16.98% 14.41% 24,516 21,918 19,609

Kotak Select FocusFund - Growth

Nifty 200 TRI# Nifty 50 TRI## Kotak Select FocusFund - Growth

Since Inception 15.02% 11.63% 10.88% 32,730 25,401 23,990

Last 1 Year 17.82% 20.52% 19.75% 11,782 12,052 11,975

Last 3 Years 11.66% 9.09% 7.21% 13,930 12,987 12,327

Last 5 Years 21.33% 16.21% 14.41% 26,312 21,204 19,609

Nifty 200 TRI# Nifty 50 TRI##

Kotak Infrastructure andEconomic Reform Fund - Growth S&P BSE 100 TRI# Nifty 50 TRI##

Kotak Infrastructure andEconomic Reform Fund - Growth

Nifty 50 TRI##

Since Inception 8.14% 8.67% 8.52% 21,905 22,994 22,687

Last 1 Year 20.41% 19.83% 19.75% 12,041 11,983 11,975

Last 3 Years 11.94% 8.18% 7.21% 14,036 12,664 12,327

Last 5 Years 22.09% 15.32% 14.41% 27,147 20,407 19,609

S&P BSE 100 TRI#

46

Kotak Emerging Equity - Growth

Scheme Inception date is 30/03/2007. Mr. Abhishek Bisen has been managing the fund since 27/05/2010.




Kotak Tax Saver Scheme - Growth

Scheme Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015.




Kotak Midcap - Growth

Scheme Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010.




Kotak Infrastructure and Economic Reform Fund - Growth

Scheme Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 01/02/2015.




45

Kotak Tax SaverScheme - Growth

Nifty 500 TRI# Nifty 50 TRI## Kotak Tax SaverScheme - Growth

Nifty 500 TRI# Nifty 50 TRI##

Since Inception 12.17% 13.56% 13.37% 40,943 47,634 46,678

Last 1 Year 13.72% 21.70% 19.75% 11,372 12,170 11,975

Last 3 Years 8.74% 9.99% 7.21% 12,863 13,314 12,327

Last 5 Years 17.00% 16.98% 14.41% 21,938 21,918 19,609

Kotak Midcap -Growth

Nifty Free FloatMidcap 100 TRI# Nifty 50 TRI## Kotak Midcap -

Growth

Since Inception 17.28% 17.25% 14.76% 79,658 79,379 60,029

Last 1 Year 20.92% 20.80% 19.75% 12,092 12,080 11,975

Last 3 Years 15.36% 15.80% 7.21% 15,363 15,542 12,327

Last 5 Years 24.37% 22.65% 14.41% 29,773 27,768 19,609

Nifty Free FloatMidcap 100 TRI# Nifty 50 TRI##

Kotak EmergingEquity - Growth

S&P BSE MidSmallCap TRI# Nifty 50 TRI## Kotak Emerging

Equity - GrowthNifty 50 TRI##

Since Inception 13.52% 14.11% 10.97% 39,962 42,309 31,175

Last 1 Year 20.39% 29.16% 19.75% 12,039 12,916 11,975

Last 3 Years 15.86% 17.49% 7.21% 15,565 16,233 12,327

Last 5 Years 26.26% 23.44% 14.41% 32,103 28,680 19,609

S&P BSE MidSmallCap TRI#

47

Kotak Balance

Kotak Equity Arbitrage Fund - Growth

Scheme Inception date is 29/09/2005. Mr. Deepak Gupta has been managing the fund since 01/09/2008.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).

Kotak India Growth Fund - Series I - Regular Plan - Growth

Scheme Inception date is 06/05/2015. Mr. Harish Krishnan has been managing the fund since 06/05/2015


^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.TRI � Total Return Index. With effect from 1st February 2018, we are comparing the performances of the funds with the total return variant of the benchmark instead of the price return variant.


46

Kotak Equity Savings Fund - Growth

Scheme Inception date is 13/10/2014. Mr. Deepak Gupta has been managing the fund since 17/09/2014. Mr. Abhishek Bisen has been managing the fund since 17/09/2014.




Scheme Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Mr. Pankaj Tibrewal has been managing the fund since 25/08/2015.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ The existing benchmark �CRISIL Balanced Fund� has been renamed as �CRISIL Hybrid 35+65 - Aggressive Index� as per communication received from CRISILTRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006

Kotak BalanceCRISIL Hybrid 35 +

65 - Aggressive Index $# Nifty 50 TRI## Kotak EmergingEquity - Growth

Nifty 50 TRI##

Since Inception 14.85% NA 13.18% 125,597 NA 96,139

Last 1 Year 11.40% 14.71% 19.75% 11,140 11,471 11,975

Last 3 Years 8.60% 8.96% 7.21% 12,814 12,941 12,327

Last 5 Years 13.23% 13.72% 14.41% 18,618 19,024 19,609

CRISIL Hybrid 35 +65 - Aggressive Index $#

Kotak Equity ArbitrageFund - Growth

Nifty 50 ArbitrageIndex# Nifty 50 TRI## Nifty 50 TRI##


Last 1 Year 6.14% 4.33% 19.75% 10,614 10,433 11,975

Last 3 Years 6.51% 5.91% 7.21% 12,086 11,883 12,327

Last 5 Years 7.51% 6.88% 14.41% 14,367 13,952 19,609

Kotak Equity ArbitrageFund - Growth

Nifty 50 ArbitrageIndex#

Kotak Equity SavingsFund - Growth

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

Since Inception 8.79% 7.33% 10.11% 13,297 12,701 13,848

Last 1 Year 10.81% 8.08% 19.75% 11,081 10,808 11,975

Last 3 Years 7.97% 6.42% 7.21% 12,593 12,055 12,327

Kotak Equity SavingsFund - Growth

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

Kotak India Growth Fund -Series I - Regular Plan - Growth Nifty 200 TRI# Nifty 50 TRI## Nifty 50 TRI##

Since Inception 10.02% 12.79% 11.06% 13,088 14,041 13,441

Last 1 Year 14.79% 20.52% 19.75% 11,479 12,052 11,975

Kotak India Growth Fund -Series I - Regular Plan - Growth Nifty 200 TRI#

48

Kotak Liquid - Regular Plan - Growth

Scheme Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007.



We are comparing the performances of the funds with the total return Index.

Kotak Floater - Short Term - Growth





Kotak Treasury Advantage Fund - Growth





Kotak Banking and PSU Debt Fund - Growth





47

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

Since Inception 7.44% 6.94% 5.94% 27,962 26,159 22,855

Last 1 Year 6.64% 6.68% 5.65% 10,664 10,668 10,565

Last 3 Years 7.42% 7.36% 6.96% 12,399 12,380 12,243

Last 5 Years 8.11% 8.08% 7.05% 14,774 14,750 14,058

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

Kotak Floater - Short Term -Growth CRISIL Liquid Fund# CRISIL 1 Year TBill##

Since Inception 7.35% 6.88% 5.92% 28,255 26,493 23,223

Last 1 Year 6.68% 6.68% 5.65% 10,668 10,668 10,565

Last 3 Years 7.50% 7.36% 6.96% 12,427 12,380 12,243

Last 5 Years 8.17% 8.08% 7.05% 14,813 14,750 14,058

CRISIL Liquid Fund CRISIL 1 Year TBillKotak Floater - Short Term -

Growth

Kotak Treasury AdvantageFund - Growth CRISIL Liquid Fund# CRISIL 1 Year TBill##

Since Inception 7.77% 7.11% 6.05% 27,565 25,380 22,162

Last 1 Year 6.46% 6.68% 5.65% 10,646 10,668 10,565

Last 3 Years 7.68% 7.36% 6.96% 12,490 12,380 12,243

Last 5 Years 8.29% 8.08% 7.05% 14,895 14,750 14,058

CRISIL Liquid Fund# CRISIL 1 Year TBill##Kotak Treasury Advantage

Fund - Growth

Kotak Banking and PSU DebtFund - Growth

CRISIL Short TermBond Fund# CRISIL 1 Year TBill##


Last 1 Year 5.82% 5.67% 5.65% 10,582 10,567 10,565

Last 3 Years 7.89% 7.77% 6.96% 12,563 12,523 12,243

Last 5 Years 8.54% 8.49% 7.05% 15,068 15,030 14,058


Kotak Banking and PSU DebtFund - Growth

Kotak Low Duration Fund - Growth





49

Kotak Bond Short Term Plan - Growth





Kotak Flexi Debt - Regular Plan - Growth





Kotak Income Opportunities Fund - Growth





48

Kotak Low Duration Fund -Growth

CRISIL Liquid Fund# CRISIL 1 Year TBill##

Since Inception 7.72% 7.57% 6.43% 21,019 20,730 18,640

Last 1 Year 6.67% 6.68% 5.65% 10,667 10,668 10,565

Last 3 Years 8.19% 7.36% 6.96% 12,668 12,380 12,243

Last 5 Years 8.35% 8.08% 7.05% 14,933 14,750 14,058

CRISIL Liquid Fund# CRISIL 1 Year TBill##Kotak Low Duration Fund -

Growth

Kotak Bond Short Term Plan -Growth


Since Inception 7.64% 7.17% 5.96% 32,105 29,961 25,005

Last 1 Year 4.89% 5.67% 5.65% 10,489 10,567 10,565

Last 3 Years 7.38% 7.77% 6.96% 12,387 12,523 12,243

Last 5 Years 7.93% 8.49% 7.05% 14,648 15,030 14,058

CRISIL 1 Year TBill##Kotak Bond Short Term Plan -

GrowthCRISIL Short Term

Bond Fund#

Kotak Flexi Debt - RegularPlan - Growth

CRISIL CompositeBond Fund# CRISIL 1 Year TBill##

Since Inception 8.41% 7.66% 6.43% 22,008 20,570 18,378

Last 1 Year 5.73% 4.25% 5.65% 10,573 10,425 10,565

Last 3 Years 8.21% 7.60% 6.96% 12,676 12,463 12,243

Last 5 Years 8.90% 8.26% 7.05% 15,317 14,873 14,058

CRISIL 1 Year TBill##Kotak Flexi Debt - Regular

Plan - GrowthCRISIL Composite

Bond Fund#

Kotak Income OpportunitiesFund - Growth


Since Inception 8.49% 8.09% 6.73% 18,900 18,361 16,630

Last 1 Year 6.13% 5.67% 5.65% 10,613 10,567 10,565

Last 3 Years 8.41% 7.77% 6.96% 12,746 12,523 12,243

Last 5 Years 8.77% 8.49% 7.05% 15,230 15,030 14,058

CRISIL 1 Year TBill##Kotak Income Opportunities

Fund - GrowthCRISIL Short Term

Bond Fund#

50

Kotak Corporate Bond Fund - Growth





Kotak Medium Term Fund - Regular Plan - Growth









Kotak Bond - Regular Plan - Growth

Kotak Gilt - Investment - Regular - Growth





49

Kotak Corporate BondFund - Growth

CRISIL CompositeBond Fund# CRISIL 1 Year TBill##

Since Inception 8.13% 7.60% 6.39% 22,623 21,484 19,100

Last 1 Year 6.42% 4.25% 5.65% 10,642 10,425 10,565

Last 3 Years 7.88% 7.60% 6.96% 12,562 12,463 12,243

Last 5 Years 8.30% 8.26% 7.05% 14,903 14,873 14,058

CRISIL 1 Year TBill##Kotak Corporate Bond

Fund - GrowthCRISIL Composite

Bond Fund#

Kotak Medium Term Fund -Regular Plan - Growth

CRISIL CompositeBond Fund# CRISIL 10 Year Gilt##

Since Inception 9.36% 9.37% 7.74% 14,234 14,240 13,421

Last 1 Year 6.01% 4.25% -1.45% 10,601 10,425 9,855

Last 3 Years 8.48% 7.60% 5.56% 12,773 12,463 11,766

Kotak Medium Term Fund -Regular Plan - Growth


Kotak Bond - RegularPlan - Growth


Since Inception 8.78% NA NA 46,528 NA NA

Last 1 Year 1.81% 4.25% -1.45% 10,181 10,425 9,855

Last 3 Years 5.22% 7.60% 5.56% 11,652 12,463 11,766

Last 5 Years 6.62% 8.26% 5.84% 13,780 14,873 13,283

Kotak Bond - RegularPlan - Growth


Kotak Gilt - Investment -Regular - Growth

I-SEC CompositeGilt Index# CRISIL 10 Year Gilt##

Since Inception 9.46% NA NA 56,636 NA NA

Last 1 Year 1.75% 4.12% -1.45% 10,175 10,412 9,855

Last 3 Years 5.82% 7.46% 5.56% 11,854 12,412 11,766

Last 5 Years 6.90% 8.26% 5.84% 13,966 14,874 13,283

CRISIL 10 Year Gilt##Kotak Gilt - Investment -

Regular - GrowthI-SEC Composite

Gilt Index#

51

Kotak Monthly Income Plan - Growth

Scheme Inception date is 02/12/2003. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. Mr. Devender Singhal has been managing the fund since 25/08/2015.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ The existing benchmark �CRISIL MIP Blended � has been renamed as �CRISIL Hybrid 85+15 - Conservative Index� as per communication received from CRISIL.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006

Kotak Asset Allocator Fund - Growth

Scheme Inception date is 09/08/2004. Mr. Deepak Gupta has been managing the fund since 01/09/2008.Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. $ The existing benchmark �CRISIL Balanced Fund� has been renamed as �CRISIL Hybrid 35+65 - Aggressive Index� as per communication received from CRISIL.TRI � Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006

Kotak Gilt - Investment - PF and Trust - Growth





50

Kotak US Equity Fund - Growth





Kotak Gilt - Investment - PFand Trust - Growth

I-SEC CompositeGilt Index# CRISIL 10 Year Gilt##

Since Inception 7.13% 7.23% 5.10% 26,788 27,165 20,385

Last 1 Year 1.75% 4.12% -1.45% 10,175 10,412 9,855

Last 3 Years 5.85% 7.46% 5.56% 11,862 12,412 11,766

Last 5 Years 6.94% 8.26% 5.84% 13,989 14,874 13,283

CRISIL 10 Year Gilt##I-SEC Composite

Gilt Index#Kotak Gilt - Investment - PF

and Trust - Growth

Kotak Monthly IncomePlan - Growth

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

Since Inception 7.85% 8.22% 5.18% 29,379 30,838 20,528

Last 1 Year 7.02% 6.62% -1.45% 10,702 10,662 9,855

Last 3 Years 8.03% 7.99% 5.56% 12,612 12,598 11,766

Last 5 Years 10.01% 9.57% 5.84% 16,118 15,800 13,283

CRISIL 10 Year Gilt##Kotak Monthly Income

Plan - GrowthCRISIL Hybrid 85 +

15 - Conservative Index $#

Kotak Asset AllocatorFund - Growth


S&P BSE SENSEXTRI##

Since Inception 16.04% 13.63% 16.14% 75,254 56,577 76,135

Last 1 Year 7.07% 14.71% 20.46% 10,707 11,471 12,046

Last 3 Years 8.57% 8.96% 6.85% 12,803 12,941 12,204

Last 5 Years 15.46% 13.72% 14.28% 20,527 19,024 19,496

Kotak Asset AllocatorFund - Growth


S&P BSE SENSEXTRI##

Kotak US Equity Fund -Growth

S&P 500 International TotalReturn Net Index#

Nifty 50 TRI##

Since Inception 10.32% 13.70% 14.40% 15,100 17,134 17,583

Last 1 Year 12.22% 14.44% 19.75% 11,222 11,444 11,975

Last 3 Years 9.83% 13.18% 7.21% 13,256 14,507 12,327

Kotak US Equity Fund -Growth

S&P 500 International TotalReturn Net Index#

Nifty 50 TRI##

52

Kotak World Gold Fund - Growth





Kotak Global Emerging Market Fund - Growth

Scheme Inception date is 26/09/2007. Mr. Abhishek Bisen has been managing the fund since 04/04/2011 and Mr. Deepak Gupta has been managing the fund since 04/04/2011.




Kotak Gold ETF





51

Kotak Nifty ETF





Kotak Global EmergingMarket Fund - Growth

MSCI Emerging Marketindex#

Nifty 50 TRI##

Since Inception 5.38% 4.99% 8.73% 17,268 16,613 23,947

Last 1 Year 27.84% 24.74% 19.75% 12,784 12,474 11,975

Last 3 Years 6.99% 8.43% 7.21% 12,252 12,754 12,327

Last 5 Years 7.36% 6.32% 14.41% 14,264 13,586 19,609

Nifty 50 TRI##Kotak Global EmergingMarket Fund - Growth

MSCI Emerging Marketindex#

Kotak World Gold Fund -Growth

Financial Times Gold MinesTotal - Price#

Nifty 50 TRI##

Since Inception -1.99% -2.42% 10.07% 8,221 7,880 25,448

Last 1 Year -13.98% -10.66% 19.75% 8,602 8,934 11,975

Last 3 Years -0.86% 4.82% 7.21% 9,745 11,519 12,327

Last 5 Years -6.20% -5.61% 14.41% 7,260 7,493 19,609

Nifty 50 TRI##Kotak World Gold Fund -Growth

Financial Times Gold MinesTotal - Price#

Kotak Gold Fund -Growth Price of Gold# CRISIL 10 Year Gilt##

Since Inception 11.09% 12.40% 6.28% 30,490 34,532 19,078

Last 1 Year 0.28% 1.34% -1.45% 10,028 10,134 9,855

Last 3 Years 3.28% 4.41% 5.56% 11,019 11,386 11,766

Last 5 Years -0.52% 0.59% 5.84% 9,741 10,298 13,283

Kotak Gold Fund -Growth Price of Gold# CRISIL 10 Year Gilt##

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

Since Inception 11.45% 11.64% 11.56% 23,967 24,286 24,157

Last 1 Year 19.51% 19.75% 20.46% 11,951 11,975 12,046

Last 3 Years 7.17% 7.21% 6.85% 12,313 12,327 12,204

Last 5 Years 14.31% 14.41% 14.28% 19,524 19,609 19,496

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

53





Kotak Sensex ETF





Kotak PSU Bank ETF





Kotak Banking ETF

52

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

Since Inception 9.50% 9.99% 10.07% 24,194 25,280 25,448

Last 1 Year 20.04% 20.46% 19.75% 12,004 12,046 11,975

Last 3 Years 6.55% 6.85% 7.21% 12,101 12,204 12,327

Last 5 Years 13.88% 14.28% 14.41% 19,158 19,496 19,609

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

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

Since Inception 10.67% 10.84% 8.63% 13,863 13,934 13,056

Last 1 Year 22.42% 22.62% 19.75% 12,242 12,262 11,975

Last 3 Years 10.31% 10.47% 7.21% 13,428 13,487 12,327

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

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

Since Inception 2.34% 2.30% 7.33% 12,690 12,639 20,751

Last 1 Year -6.14% -5.70% 19.75% 9,386 9,430 11,975

Last 3 Years -6.52% -6.15% 7.21% 8,165 8,263 12,327

Last 5 Years 0.74% 1.04% 14.41% 10,376 10,531 19,609

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

Scheme Names

Kotak Emerging Equity - Growth

Kotak Midcap - Growth

Kotak Balance - Dividend

1 YEAR 3 YEAR 5 YEAR Since Inception

SchemeReturns(%)^

BenchmarkReturns (%)^*

SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Scheme Names

Kotak NV 20 ETFKotak Banking ETF



SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak World Gold Fund - Growth

Kotak Equity Arbitrage Fund - Growth

Top 3

Bottom 3

ABOUT OUR FUND MANAGERS

54

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

Name: Mr. Harish KrishnanMr. Harish Krishnan manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of (regular / direct) plan.Kotak 50 (Jan 01, �14), Kotak Infrastructure & Economic Reform Fund (Jan31,'15), Kotak India Growth Fund Series I (May 06, �15).Business ExperienceMr. Harish has a decade of experience spread over Equity Research and Fund Management. Prior to joining Kotak Mutual Fund, he was based out of Singapore and Dubai, managing Kotak's offshore funds. Mr. Harish has also worked at Infosys Technologies Ltd in his earlier stint. He is a Bachelor of Technology (Electronics & Communications) from Government Engineering College, Trichur, a post Graduate in Management from Indian Institute of Management, Kozhikode and a Chartered Financial Analyst from the CFA Institute.

Name: Mr. Pankaj TibrewalMr. Pankaj Tibrewal manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of (regular / direct) plan.Kotak Midcap (Jan. 21,�10) , Kotak Emerging Equity (May 27,'10), Kotak Balance (Aug. 25,'15)Business ExperienceMr. Pankaj is a graduate in Commerce from St. Xavier's College, Kolkata and holds a Master's degree in Finance from Manchester University. He has been associated with the mutual fund industry since 2003 where he has managed several debt and equity schemes. He has been a part of the organization since January 2010. Mr. Pankaj's earlier stint was with Principal Mutual Fund.

Scheme Names

Kotak Select Focus Fund - Growth

Kotak Opportunities - Growth

Kotak Tax Saver Scheme - Growth


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak Select Focus Fund - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012.Kotak Opportunities - Growth, *Name of the Benchmark - Nifty 500 TRI, Scheme Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012.Kotak Tax Saver Scheme - Growth, *Name of the Benchmark - Nifty 500 TRI, Scheme Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015.TRI � Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).

Kotak Infrastructure and Economic Reform Fund - Growth, *Name of the Benchmark - S&P BSE 100 TRI, Scheme Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 31/01/2015.Kotak 50 - Dividend, *Name of the Benchmark - Nifty 50 TRI, Scheme Inception date is 29/12/1998. Mr. Harish Krishnan has been managing the fund since 15/11/2013.Kotak India Growth Fund - Series I - Regular Plan - Growth, *Name of the Benchmark - Nifty 200 TRI, Scheme Inception date is 06/05/2015. Mr. Harish Krishnan has been managing the fund since 06/05/2015TRI � Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).For Kotak 50 Fund : As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from 29th Dec 1998 to to 31st May 2007 and TRI Values from 31st May 2007 to 31st Jan 2018.

Kotak Midcap - Growth, *Name of the Benchmark - Nifty Free Float Midcap 100 TRI, Scheme Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010.Kotak Emerging Equity - Growth, *Name of the Benchmark - S&P BSE MidSmallCap TRI, Scheme Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010.Kotak Balance - Dividend, *Name of the Benchmark - CRISIL Hybrid 35+65 - Aggressive Index, Scheme Inception date is 25/11/1999. Mr. Pankaj Tibrewal has been managing the fund since 25/08/2015. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.TRI � Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).For Kotak Balance Fund: The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006.

Name: Mr. Deepak GuptaMr. Deepak Gupta manages 13 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of (regular / direct) plan.Kotak Equity Arbitrage (Sept.1,�08), Kotak Asset Allocator Fund (Sept.1,�08), Kotak Global Emerging Market Fund (Apr.4,�11), (Dedicated fund manager for over seas investment), Kotak Balance (Aug. 25,'15), Kotak Equity Savings Fund (Oct. 13, '14), Kotak World Gold Fund (Jan.31,�15), Kotak US Equity Fund (Jan.31,�15), Kotak PSU Bank ETF (Nov. 8, �07), Kotak SENSEX ETF (Jun. 6, �08), Kotak NIFTY ETF (Feb. 8, �10), Kotak Banking ETF (Dec. 11, �14), Kotak Classic Equity (Jan. 1, '17).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.

Scheme Names

Kotak Infrastructure and Economic Reform Fund - Growth

Kotak India Growth Fund - Series I - Regular Plan - Growth

Kotak 50 - Dividend


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


20.41 19.83 11.94 8.18 22.09 15.32 8.14 8.67

15.79 19.75 7.45 7.21 15.62 14.41 19.39 15.45

14.79 20.52 NA NA NA NA 10.02 12.79

20.92 20.80 15.36 15.80 24.37 22.65 17.28 17.25

20.39 29.16 15.86 17.49 26.26 23.44 13.52 14.11

11.40 14.71 8.60 8.96 13.23 13.72 14.85 NA

27.84 24.74 6.99 8.43 7.36 6.32 5.38 4.99

23.23 23.69 NA NA NA NA 18.01 15.66

22.42 22.62 10.31 10.47 NA NA 10.67 10.84

6.14 4.33 6.51 5.91 7.51 6.88 7.56 NA

-6.14 -5.70 -6.52 -6.15 0.74 1.04 2.34 2.30

-13.98 -10.66 -0.86 4.82 -6.20 -5.61 -1.99 -2.42

53

17.82 20.52 11.66 9.09 21.33 16.21 15.02 11.63

17.51 21.70 11.10 9.99 19.63 16.98 19.86 16.52

13.72 21.70 8.74 9.99 17.00 16.98 12.17 13.56

Kotak PSU Bank ETF

Kotak Global Emerging Market Fund - Growth, *Name of the Benchmark - MSCI Emerging Market index, Scheme Inception date is 26/09/2007. Mr. Deepak Gupta has been managing the fund since 04/04/2011(Dedicated fund manager for overseas investment) and Mr. Abhishek Bisen has been managing the fund since 04/04/2011.Kotak Balance - Dividend, *Name of the Benchmark - CRISIL Hybrid 35+65 - Aggressive Index, Scheme Inception date is 25/11/1999. Mr. Pankaj Tibrewal has been managing the fund since 25/08/2015. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.Kotak Equity Savings Fund - Growth, *Name of the Benchmark - 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 TRI, Scheme Inception date is 13/10/2014. Mr. Deepak Gupta has been managing the fund since 17/09/2014. Mr. Abhishek Bisen has been managing the fund since 17/09/2014.Kotak Gilt - Investment - Regular - Growth, *Name of the Benchmark - I-SEC Composite Gilt Index, Scheme Inception date is 29/12/1998. Mr. Abhishek Bisen has been managing the fund since 15/04/2008.Kotak Gold ETF, *Name of the Benchmark - Price of Gold, Scheme Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 01/08/2008.Kotak Gold Fund - Growth, *Name of the Benchmark - Price of Gold, Scheme Inception date is 25/03/2011. Mr. Abhishek Bisen has been managing the fund since 04/03/2011.TRI � Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). For Kotak Balance Fund: The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006.

Scheme Names

Kotak Equity Savings Fund - Growth

Kotak Balance - Dividend



SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak Gold Fund - Growth

Kotak Gold ETF

Top 3

Bottom 3

Kotak Global Emerging Market Fund - Growth, *Name of the Benchmark - MSCI Emerging Market index, Scheme Inception date is 26/09/2007. Mr. Deepak Gupta has been managing the fund since 04/04/2011(Dedicated fund manager for overseas investment) and Mr. Abhishek Bisen has been managing the fund since 04/04/2011.Kotak NV20 ETF - *Name of the Benchmark Nifty 50 Value 20 TRI, Scheme Inception date is 01/12/2015. Mr. Deepak Gupta has been managing the fund since 08/12/2015.Kotak Banking ETF, *Name of the Benchmark - Nifty Bank TRI, Scheme Inception date is 10/12/2014. Mr. Deepak Gupta has been managing the fund since 24/11/2014.Kotak Equity Arbitrage Fund - Growth, *Name of the Benchmark - Nifty 50 Arbitrage Index, Scheme Inception date is 29/09/2005. Mr. Deepak Gupta has been managing the fund since 01/09/2008.Kotak PSU Bank ETF, *Name of the Benchmark - Nifty PSU Bank TRI , Scheme Inception date is 08/11/2007. Mr. Deepak Gupta has been managing the fund since 25/02/2011.Kotak World Gold Fund - Growth, *Name of the Benchmark - Financial Times Gold Mines Total - Price, Scheme Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 01/02/2015.TRI � Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).

Name: Mr. Abhishek BisenMr. Abhishek Bisen manages 9 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of (regular / direct) plan.Kotak Balance (Apr. 15, 2008), Kotak Monthly Income Plan (Apr. 15, �08), Kotak Bond (Regular Plan) (Apr. 15, �08), Kotak Gilt Investment (Regular & PF-Trust) (Apr. 15, �08), Kotak Global Emerging Market Fund (Apr. 15, �08), Kotak Equity Savings Fund (Oct. 13, '14), Kotak Gold ETF (Jul. 27, �07), Kotak Gold Fund (Mar. 25, '11)Business ExperienceMr. Abhishek has been associated with the company since October 2006 and his key responsibilities include fund management of debt schemes. Prior to joining Kotak AMC, Me, Abhishek was working with Securities Trading Corporation Of India Ltd where he was looking at Sales & Trading of Fixed Income Products apart from doing Portfolio Advisory. He has been awarded twice as one of the Highly Commended Investors in Indian Rupees Bonds from the Asset magazine Hong Kong. His educational background is B.A (Management) and MBA (Finance).

Name: Mr. Deepak Agrawal

Mr. Deepak Agrawal manages 10 & All FMPs funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of (regular / direct) plan.

(Kotak Bond Short Term (Apr. 14, �08), Kotak Flexi Debt (Jul. 11, �07), Kotak Floater Short Term (Nov. 25, �07), Kotak Liquid (Jul. 11, �12), 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), Kotak Low Duration Fund (Jan. 31, �15), Kotak Corporate Bond Fund (Jan. 31, �15), All Fixed Maturity Plans in existence (Aug. 13,'15),

Business Experience

Mr. Deepak's career has started from Kotak AMC when he joined the organization in December 2002 where he was initially in Research, Dealing and then moved into Fund Management from November 2006. Mr. Deepak is a Post Graduate in Commerce, Chartered Account and Company Secretary.

Scheme Names

Kotak Low Duration Fund - Growth

Kotak Floater - Short Term - Growth


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Kotak Banking and PSU Debt Fund - Growth

Kotak Bond Short Term Plan - Growth

Kotak Flexi Debt - Regular Plan - Growth

Top 3

Bottom 3

Kotak Liquid - Regular Plan - Growth

Kotak Floater - Short Term - Growth, *Name of the Benchmark - CRISIL Liquid Fund, Scheme Inception date is 14/07/2003. Mr. Deepak Agrawal has been managing the fund since 01/11/2006.Kotak Low Duration Fund - Growth, *Name of the Benchmark - CRISIL Liquid Fund, Scheme Inception date is 06/03/2008. Mr. Deepak Agrawal has been managing the fund since 01/02/2015.Kotak Liquid - Regular Plan - Growth, *Name of the Benchmark - CRISIL Liquid Fund, Scheme Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007.Kotak Banking and PSU Debt Fund - Growth, *Name of the Benchmark - CRISIL Short Term Bond Fund, Scheme Inception date is 29/12/1998. Mr. Deepak Agrawal has been managing the fund since 01/08/2008.Kotak Flexi Debt - Regular Plan - Growth, *Name of the Benchmark - CRISIL Composite Bond Fund, Scheme Inception date is 26/05/2008. Mr. Deepak Agrawal has been managing the fund since 25/11/2012.Kotak Bond Short Term Plan - Growth, *Name of the Benchmark - CRISIL Short Term Bond Fund, Scheme Inception date is 02/05/2002. Mr. Deepak Agrawal has been managing the fund since 11/07/2007.We are comparing the performances of the funds with the total return Index(TRI)

55

Kotak Monthly Income Plan - Growth, *Name of the Benchmark - CRISIL Hybrid 85+15 - Conservative Index, Scheme Inception date is 02/12/2003. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. Mr. Devender Singhal has been managing the fund since 25/08/2015.TRI � Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI).The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006

Scheme Names

Kotak Monthly IncomePlan - Growth


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


SchemeReturns(%)^


Name: Mr. Devender SinghalMr. Devender Singhal manages 1 fund of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of (regular / direct) plan.Kotak Monthly Income Plan (Aug. 25,�15)Business ExperienceMr. Devender has been associated with the Kotak Group since July 2007. He is responsible for the research coverage of FMCG, Automobiles and Media sectors at Kotak AMC since Feb 2009. Devender has an overall working experience of 14 years in equity research and fund management. Prior to joining Kotak AMC, Devender worked with the PMS divisions of Kotak, Religare, Karvy and P N Vijay Financial Services.

27.84 24.74 6.99 8.43 7.36 6.32 5.38 4.99

11.40 14.71 8.60 8.96 13.23 13.72 14.85 NA

10.81 8.08 7.97 6.42 NA NA 8.79 7.33

1.75 4.12 5.82 7.46 6.90 8.26 9.46 NA

0.28 1.34 3.28 4.41 -0.52 0.59 11.09 12.40

0.09 1.34 2.91 4.41 -1.32 0.59 3.54 5.45

6.68 6.68 7.50 7.36 8.17 8.08 7.35 6.88

6.67 6.68 8.19 7.36 8.35 8.08 7.72 7.57

6.64 6.68 7.42 7.36 8.11 8.08 7.44 6.94

5.82 5.67 7.89 7.77 8.54 8.49 7.31 NA

5.73 4.25 8.21 7.60 8.90 8.26 8.41 7.66

4.89 5.67 7.38 7.77 7.93 8.49 7.64 7.17

7.02 6.62 8.03 7.99 10.01 9.57 7.85 8.22

54

Kotak Gilt - Investment - Regular - Growth

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

Feb-27-18 27.367 0.83Nov-28-17 28.7004 0.85Aug-29-17 27.919 0.85

Kotak Opportunities

Record Date Cum Dividend NAVCum Dividend NAV `/Unit

Record Date Cum Dividend NAV `/UnitDec-28-17 39.218 1.52Jun-28-16 39.046 1.50Dec-30-16 33.071 1.35


Record Date Cum Dividend NAVCum Dividend NAV `/UnitJul-24-17 23.433 0.70Jul-15-16 19.692 0.50Nov-20-15 18.450 0.50

Kotak 50 - Dividend

Equity Schemes

Record Date Cum Dividend NAV `/UnitFeb19-18 10.7845 0.0574

Jan-22-18 10.7789 0.0518

Dec-26-17 10.7756 0.0485

Kotak Equity Arbitrage Fund - Monthly Dividend Option

Kotak Midcap

Record Date Cum Dividend NAVCum Dividend NAV `/UnitFeb-28-18 45.373 1.27Feb-27-17 36.403 1.45Feb-23-16 26.770 1.00

Kotak Tax Saver

Record Date Cum Dividend NAVCum Dividend NAV `/UnitDec-29-17 20.848 0.40Sep-28-17 22.323 0.40Jun-29-17 22.144 0.40

Kotak Emerging Equity

Record Date Cum Dividend NAVCum Dividend NAV `/UnitMay-26-17 26.010 1.59May-27-16 21.196 1.30Apr-28-15 21.499 2.10

Kotak Select Focus

Record Date Cum Dividend NAVCum Dividend NAV `/UnitSep-27-17 23.592 1.50Sep-30-16 21.349 1.25Oct-12-15 17.739 1.00

Record Date Cum Dividend NAV `/Unit

Kotak Equity Arbitrage Fund - Bimonthly Dividend

Jan-22-18 20.1288 0.1815Nov-27-17 20.1411 0.1990Sep-25-17 20.1598 0.2114

56

Kotak SENSEX ETFRecord Date Cum Dividend NAVCum Dividend NAV `/Unit

Kotak PSU Bank ETF

Mar-10-17 297.6072 7.50Nov-21-14 290.4602 6.00

Mar-10-17 334.3964 7.00Nov-21-14 428.2343 19.00

Cum Dividend NAVRecord Date `/Unit

ETF Schemes

Kotak Infrastructure and Economic Reform

Feb-12-18 11.329 0.05Jan-12-18 11.433 0.05Dec-12-17 11.325 0.05

Kotak Equity Saving Fund - Monthly Dividend Option

Record Date Cum Dividend NAVCum Dividend NAV `/Unit

Feb-12-18 12.8060 Individual/ HUF: 0.0793 Others: 0.0734Jan-12-18 13.0475 Individual/ HUF: 0.0793 Others: 0.0734Dec-12-17 13.0423 Individual/ HUF: 0.0749 Others: 0.0694

Record Date Cum Dividend NAV `/UnitKotak Equity Saving Fund - Quarterly Dividend

Kotak Monthly Income Plan - Monthly Dividend

Kotak Monthly Income Plan - Quarterly Dividend

Record Date

Record Date

Cum Dividend NAV

Cum Dividend NAV

`/Unit

`/UnitDec-20-17 14.5162 Individual/ HUF: 0.2143 Others: 0.1986Sep-20-17 14.6341 Individual/ HUF: 0.2178 Others: 0.2018Jun-20-17 14.6880 Individual/ HUF: 0.2116 Others: 0.1960

Hybrid Schemes

Record Date Cum Dividend NAV `/UnitFeb-26-18 16.821 0.14 Jan-25-18 17.632 0.14Dec-26-17 17.498 0.14

Kotak Balance

Dec-20-17 11.415 0.180Sep-20-17 11.368 0.175 Jun-20-17 11.118 0.150

Record Date Cum Dividend NAV `/UnitFeb-28-18 20.582 0.63

Feb-23-17 17.564 0.50

Kotak Nifty ETFRecord Date Cum Dividend NAVCum Dividend NAV `/Unit

Mar-10-17 904.9522 10.00May-06-16 785.7880 11.00Nov-21-14 858.2720 9.50

Feb-26-18 23.2880 0.0485

Feb-12-18 23.2961 0.0566

Jan-29-18 23.3152 0.0757

Record Date Cum Dividend NAV `/Unit

Kotak Equity Arbitrage Fund - Fortnightly Dividend Option

55

Kotak Bond Regular Plan-Annual DividendRecord Date Cum Dividend NAV `/Unit

Mar-20-14 21.2977 Individual/ HUF: 0.2158 Others: 0.2067Mar-20-13 22.5941 Individual/ HUF: 1.4008 Others: 1.2006

57

Kotak Bond Short Term - Monthly DividendRecord Date Cum Dividend NAV `/Unit

Feb-12-18 10.1585 Individual/ HUF: 0.0236 Others: 0.0219Jan-12-18 10.1291 Individual/ HUF: 0.0024 Others: 0.0022 Dec-12-17 10.1305 Individual/ HUF: 0.0034 Others: 0.0032

Kotak Bond Short Term-Half Yearly DividendRecord Date Cum Dividend NAV `/Unit

Sep-20-17 11.7146 Individual/ HUF: 0.0816 Others: 0.0756Sep-21-15 11.519 Individual/ HUF: 0.4471 Others: 0.4142Dec-30-14 11.1187 Individual/ HUF: 0.1759 Others: 0.1631

Kotak Income Opportunities Fund-Annual DividendRecord Date Cum Dividend NAV `/Unit

Mar-15-17 11.2098 Individual/ HUF: 0.7411 Others: 0.6866Mar-14-16 11.0308 Individual/ HUF: 0.6162 Others: 0.5709Mar-20-15 11.2454 Individual/ HUF: 0.7911 Others: 0.7337

Kotak Income Opportunities Fund-Monthly DividendRecord Date Cum Dividend NAV `/Unit


Kotak Income Opportunities Fund-Quarterly DividendRecord Date Cum Dividend NAV `/Unit

Dec-20-17 10.7894 Individual/ HUF: 0.0774 Others: 0.0718Sep-20-17 10.8524 Individual/ HUF: 0.1219 Others: 0.1130Jun-20-17 10.9396 Individual/ HUF: 0.1905 Others: 0.1765

Kotak Floater Short Term-Monthly DividendRecord Date Cum Dividend NAV `/Unit


Kotak Treasury Advantage Fund-Monthly DividendRecord Date Cum Dividend NAV `/Unit


Debt Schemes

Kotak Flexi Debt Regular Plan-Quarterly Dividend Record Date Cum Dividend NAV `/Unit


Kotak Corporate Bond Fund-Regular Plan Monthly Dividend

Record Date Cum Dividend NAV `/UnitFeb-12-18 1051.6552 Individual/ HUF: 3.7042 Others: 3.4318Jan-12-18 1049.1948 Individual/ HUF: 1.9271 Others: 1.7854Dec-12-17 1050.0136 Individual/ HUF: 2.5185 Others: 2.3333

Kotak Corporate Bond Fund-Regular Quarterly DividendRecord Date Cum Dividend NAV `/Unit

Jun-20-17 1070.4266 Individual/ HUF: 15.9660 Others: 14.7922Mar-20-17 1062.9423 Individual/ HUF: 11.1398 Others: 10.3208Dec-20-16 1070.3117 Individual/ HUF: 17.6919 Others: 16.3912

Kotak Gilt Investment Regular Plan-Quarterly DividendRecord Date Cum Dividend NAV `/Unit

Jun-20-17 13.5005 Individual/ HUF: 0.2132 Others: 0.1976Mar-20-17 12.7811 Individual/ HUF: 0.0754 Others: 0.0699Dec-20-16 13.7660 Individual/ HUF: 0.4694 Others: 0.4349

Kotak Gilt Investment PF and Trust Plan- Quarterly Dividend

Record Date Cum Dividend NAV `/UnitJun-20-17 12.0690 Individual/ HUF: 0.1906 Others: 0.1766Mar-20-17 11.4258 Individual/ HUF: 0.0673 Others: 0.0624Dec-20-16 12.3073 Individual/ HUF: 0.4205 Others: 0.3895

Kotak Banking and PSU Debt Fund-Monthly DividendRecord Date Cum Dividend NAV `/Unit


Kotak-Bond Regular Plan- Quarterly Dividend OptionRecord Date Cum Dividend NAV `/Unit

Sep-20-17 10.8936 Individual/ HUF: 0.1192 Others: 0.1104Jun-20-17 11.1699 Individual/ HUF: 0.1876 Others: 0.1738Mar-20-17 10.7213 Individual/ HUF: 0.0721 Others: 0.0668

DEBT Schemes

56

Kotak Flexi Debt Regular Plan-Monthly Dividend Record Date Cum Dividend NAV `/Unit

Feb-12-18 21.8171 Individual/ HUF: 0.0338 Others: 0.0313Dec-12-17 21.7808 Individual/ HUF: 0.0062 Others: 0.0057Nov-13-17 21.8975 Individual/ HUF: 0.0660 Others: 0.0612

5658

Debt Schemes Debt Schemes

Kotak Medium Term Fund-Quarterly DividendRecord Date Cum Dividend NAV `/Unit


Kotak Medium Term Fund-Annual DividendRecord Date Cum Dividend NAV `/Unit

Mar-15-17 11.2826 Individual/ HUF: 0.6428 Others: 0.5956Mar-14-16 11.0913 Individual/ HUF: 0.6217 Others: 0.5760

Kotak Low Duration Fund-Regular Plan Monthly DividendRecord Date Cum Dividend NAV `/Unit


57

Kotak Banking and PSU Debt Fund-Annual DividendRecord Date Cum Dividend NAV `/Unit

Mar-15-17 16.8762 Individual/ HUF: 1.0169 Others: 0.9421Mar-14-16 16.6687 Individual/ HUF: 0.8840 Others: 0.8190Mar-20-15 16.7914 Individual/ HUF: 0.9986 Others: 0.9261

How to read Fact Sheet

For details contact us at:KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED: 6th Floor, Kotak Infiniti, Building No. 21, Infinity Park, Off Western Express Highway, Gen. A. K. Vaidya Marg, Malad (East), Mumbai � 400 097. Tel.: 91-22-66056825 Fax: 91-22-6638 4455 E-mail: [email protected] www.kotakamc.com. Corporate Office of Asset Website: Management Company: 2nd Floor, 12-BKC, Plot No C-12, G Block, BKC, Bandra (East),Mumbai - 400 051

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: 495-2701031Chandigarh: 0172-4671885/ 5049476Chennai: 044-28221333/ 45038171Cochin: 0484-2343903/ 9037000106Coimbatore: 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: 0481-2577077Lucknow: 522-4021168/ 4021169Ludhiana: 0161-4646602/ 4646604Mangalore: 0824-6452006Meerut: 0121-4007753Mumbai: 022-66056825Mumbai: (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: 020-20251526/27/29Raipur: 0771-4270917Rajkot: 0281-6620735Ranchi: 0651-6454629/ 2332274/9709001533Rourkela: 0661-6450114/ 9776640098Saharanpur - 7253894757Salem: 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

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

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