Expert Speak 1 Market Overview 2 Equity Market Snapshot 3 Debt Market Snapshot 4

Transcription

1 September 30, 2018 Past performance of the Sponsor/AMC/Fund does not indicate the schemes future performance. Risk Factors on page 64 Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

2 INDEX Contents Page no. Expert Speak 1 Market Overview 2 Equity Market Snapshot 3 Debt Market Snapshot 4 Fund Name/ Name New SEBI scheme category Equity Funds Kotak Standard Multicap Fund (Erstwhile Kotak Select Focus) Multi Cap Fund 5 Kotak Emerging Equity Mid Cap Fund 6 Kotak Equity Opportunities Fund (Erstwhile Kotak Opportunities) Large & Mid Cap Fund 7 Kotak Bluechip Fund (Erstwhile Kotak Mahindra 50 Unit ) Large Cap Fund 8 Kotak Small Cap Fund (Erstwhile Kotak Midcap ) Small Cap Fund 9 Kotak Tax Saver ELSS 10 Kotak Infrastructure & Economic Reform Fund Sectoral/Thematic 11 Kotak India EQ Contra Fund (Erstwhile Kotak Classic Equity) Contra Fund 12 Arbitrage Funds Kotak Equity Arbitrage Fund Arbitrage Fund 13 Hybrid Funds Kotak Balanced Advantage Fund Balanced Advantage 16 Kotak Equity Hybrid (Erstwhile Kotak Balance) Aggressive Hybrid Fund 19 Kotak Equity Savings Fund Equity Savings 20 Kotak Debt Hybrid (Erstwhile Kotak MIP) Conservative Hybrid Fund 23 Debt Funds Kotak Mahindra Liquid Liquid Fund 24 Kotak Bond Short Term Plan Short Duration Fund 25 Kotak Savings Fund (Erstwhile Kotak Treasury Advantage Fund) Ultra Short Duration Fund 26 Kotak Money Market (Erstwhile Kotak Floater Short Term ) Money Market Fund 27 Kotak Duration Fund Duration Fund 28 Kotak Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) Credit Risk Fund 29 Kotak Medium Term Fund Medium Duration Fund 31 Kotak Bond (Erstwhile Kotak Mahindra Bond Unit 99) Medium to Long Duration Fund 33 Kotak Corporate Bond Fund Corporate Bond Fund 34 Kotak Banking & PSU Debt Fund Banking & PSU Fund 35 Kotak Mahindra Gilt Unit 98 - Investment Plan Gilt Fund 36 Kotak Dynamic Bond Fund (Erstwhile Kotak Flexi Debt ) Dynamic Bond 37 Exposure 38 Performance 40 About Our Fund Managers 45 Dividend History 47 How to read Fact Sheet 50

3 Expert Speak September 28, 2018 Dear Friends, Market has heaved a relief that September is over. Nifty 50 in the last month fell by 6.8%. The decline in the Nifty Midcap 100 was 12.10% and the Nifty Smallcap was down by 19.65%. On year to date basis, the Nifty Smallcap index is down by around 34%. In same period, the midcaps index is down by 20%. Much of the Smallcap index gains over last three years have been wiped out. Hope our call for caution while investing in equities came in handy for our investors. It is the default by a mega infra-finance company which triggered this phase of decline. Market was already concerned by the ripples of this default. It got frightened further when rumour led selling caused 60% (intra-day) fall in the price of a major HFC. Equity market crash can be attributed to movement in debt market, currency market, and credit market along with tight liquidity. The uncertainty regarding NBFCs has created anxiety amongst investors of a possible contagion effect. The lending activity has dropped drastically. Not many want to go out on the wicket and play anymore. If this is the way, the play may stop even before the Referees come in. Already the market is seeing ghosts behind every curtain. The good thing is that the policy-makers have begun taking action. But market nerves remain jittery, and debt-holders have their risk sensors on high-alert. The market needs to regain its confidence and nerves need to be soothed. For that reason, regulators must begin to allay fears and demonstrate eagerness in resolving the problem. On a lager note, the NPAs in the PSU banks and the current infra-finance issue has two things in common Transparency and accountability did not match the highest standards. Resultantly corporate governance and capital allocation suffered, putting the whole system at risk. This episode may have some lessons for us. There is a cycle in play. At first, there is an over-optimistic lending for hyper-inflated projects, unviable businesses and unscrupulous promoters. Then these investments go bust. Then these lending institutions itself need to be rescued. Regulators need to increasingly come in at the time of lending itself. There is enough competence within the nation to bring in effectiveness and efficiency in the public-held lending institutions. Promoters, rating agencies, regulations, capital and technology must be brought together to create transparency and information. The market must be helped going forward to efficiently discover the lending costs. Oil and elections are expected to be driver of the market going forward. Markets have downside if oil goes to three digits; and election does not produce stable government. Markets have upside if oil corrects from here and election produces reform oriented government. As of for now, we continue to remain cautious. Currently, markets have few reasons to go up and many potential causes to remain down. Although islands of opportunity have emerged. Especially in the small cap segment. Investors with long term view may look at allocating in staggered manner either through SIP or STP. Investors may also look at allocating in avenues like offshore equity funds to diversify - giving time for the domestic story to come back on track. Regards, Nilesh Shah Managing Director 1 1

4 Market Overview Key Events for the Month of September 2018: Indian equities saw a weak month in September (-6.4%) in the backdrop of worries around liquidity tightness in the credit markets, negative news flow in the financials space, construction ban early in the month, continued macro pressures and rupee depreciation. CPI declined to a 10-month low 3.7% in August 2018, lower than MPC s medium-term target of 4.0%. At 17.4 billion, India s trade deficit in August has eased from a near five-year high of billion in July. The Reserve Bank of India bought 100 billion rupees of bonds on 27th Sept 18. This was also the fifth such auction by RBI in this fiscal. The fiscal deficit for the five-month period between April and August stood at Rs 5.91 lakh crore reaching 94.7% of the FY 19 target. Fiscal deficit had hit 96.1% of the budgeted target till August for FY18. July IIP grew at 6.6% vs 7% contraction in June. Manufacturing output recorded 7% growth in July vs 0.1% contraction in June. Market Valuation Indicators Sensex Above Fair Range month forward Sensex P/B (x) India s Market Cap to GDP (%) Sensex P/B (x) - LHS Average of 78% for the period Source: Motilal Oswal Source: Motilal Oswal Market Equity Allocaion Bubble Stretched Fair Value Plus Fair Attractive Cheap Exit 5% - 10% Under Invest 15%- 25% Neutral - 35% - 45% Neutral 50% Neutral + 65% - 75% Over Invest 80% - 90% Suggested equity allocation (Assuming 50% equity allocation as neutral) Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Apr-16 May-16 Jun-16 Jul-16 Sep-91 Sep-92 Sep-93 Sep-94 Sep-95 Sep-96 Sep-97 Sep-98 Sep-99 Sep-00 Sep-01 Sep-02 Sep-03 Sep-04 Sep-05 Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14 Sep-15 Sep-16 Sep-17 Sep Aug Sep Oct Fair Value Plus 17x -20x Nov month forward Sensex P/E (x) Stretched 20x-24x Fair 13x -17x Attractive10x -13x Cheap 8x -10x Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Source:Internal Calculation Strategy for Investments in the Current Scenario for Equity Investor 2

5 Equity Market Snapshot Trend In Monthly FII Flows (US) mn 4,000 3,000 2,952 2,000 2,039 2,018 1, (1,000) (2,000) (1,656) (739) (1,931) (943) (1,427) (377) (278) (1,314) (3,000) Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Source: Bloomberg, Kotak Institutional Equities There Is Carnage In Small And Mid Cap Drawdown from 52 week No. of Stocks % of Top 1000 Stocks Median Correction from 52 Week by Market Cap No. of Stocks Drawdown from 52 Week No. of Stocks Less than 10% 46 5% Top 10-13% Nifty 50-6% Between 10% and 20% % 10 to % Nifty Midcap % Between 20% and 30% % 100 to % Nifty Smallcap % Between 30% and 50% % 500 to % More than 50% % Overall: Top % Source: Bloomberg, As of 24th Sep 2018 Key Variables & their Impact On Interest Rates in 2018 Key Variables Short - term Medium - term Remarks Economy Corporate Earnings FII Flow DII Flow 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 Supply of paper er disinvestment target and repair of leveraged balance sheet to create supply in markets. Policy/Reform Initiative Election heavy year can dampen near term outlook for meaningful reform Signifies growth 3

6 Debt Market Snapshot Items Sep-18 Aug-18 Change Reverse Repo 6.25% 6.25% Nil Repo 6.50% 6.50% Nil CRR 4.00% 4.00% Nil SLR 19.50% 19.50% Nil Mibor Overnight 6.60% 6.45% 15 bps Call(O/N) 6.51% 6.41% 10 bps CBLO 5.01% 5.40% -39 bps 1 yr T Bill 7.65% 7.31% 34 bps 10 G Sec 8.02% 7.95% 7 bps 5 Year AAA 8.88% 8.62% 26 bps USD/INR ` ` `-1.62 Source: RBI; Bloomberg. India's Fiscal Deficit Is er Than In 2013 % of GDP Fiscal Deficit as % of GDP 5.8 The fiscal gap has averaged 3.9 % of gross domestic product between 2014 to 2018, down from an average 5.5 % between 2009 to Source: Economic Times, Bloomberg Crude On The Boil!!! Significant Impact On Economy -India will import 1mn bpd more than what it did in FY14, resulting in ~30bn additional outgo -Our import dependence has further gone up Source: CLSA BPD: Barrel per day Key Variables & their Impact On Interest Rates in 2018 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) Medium term (6month 2 years) Denotes fall in interest rates 4 4

7 KOTAK STANDARD MULTICAP FUND (Erstwhile Kotak Select Focus) Multi cap fund - An open-ended equity scheme investing across large cap, mid cap, small cap stocks Investment style Value Blend Growth Size Large Mid Small Fund Manager: Mr. Harsha Upadhyaya* A 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. 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 Portfolio Turnover Beta Sharpe## Standard Deviation `21, crs `20, crs : Nifty 200 Allotment date: September 11, 2009 Folio count: 11,26,325 Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: 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 Regular:2.14%; Direct: 1.17% 31.05% % Equity & Equity related Reliance Industries Ltd. Petroleum Products 7.41 HDFC Bank Ltd. Banks 7.20 ICICI Bank Ltd. Banks 4.95 Larsen And Toubro Ltd. Construction Project 4.74 Infosys Ltd. Software 4.66 HDFC Ltd. Finance 4.65 Tata Consultancy Services Ltd. Software 3.43 ITC Ltd. Consumer Non Durables 2.85 State Bank Of India Banks 2.67 RBL Bank Ltd Banks 2.51 GAIL (India) Ltd. Gas 2.33 Bharat Financial Inclusion Limited Finance 2.19 Petronet LNG Ltd. Gas 2.10 Hero MotoCorp Ltd. Auto 2.09 Mahindra & Mahindra Ltd. Auto 2.03 Ultratech Cement Ltd. Cement 1.99 Axis Bank Ltd Banks 1.93 Bajaj Finance Limited Finance 1.86 Shree Cement Ltd. Cement 1.75 Britannia Industries Ltd. Consumer Non Durables 1.71 AU Small Finance Bank Ltd. Banks 1.65 ICICI Lombard General Insurance Company Ltd Finance 1.54 The Ramco Cements Ltd Cement 1.53 Maruti Suzuki India Limited Auto 1.45 Indraprastha Gas Ltd. Gas 1.29 Container Corporation of India Ltd. Transportation 1.15 Hindustan Unilever Ltd. Consumer Non Durables 1.13 Jindal Steel & Power Ltd. Ferrous Metals 1.06 Cadila Healthcare Ltd. Pharmaceuticals 1.02 Godrej Consumer Products Ltd. Consumer Non Durables 1.02 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.01 Kec International Ltd. Construction Project 0.97 Lupin Ltd. Pharmaceuticals 0.88 Bajaj Finserv Ltd. Finance 0.86 Note: Term Deposit as provided above is towards margin for derivatives transactions SECTOR ALLOCATION (%) Bata India Ltd. Consumer Durables 0.86 Bharat Electronics Ltd Industrial Capital Goods 0.85 HDFC Standard Life Insurance Company Ltd Finance 0.85 MRF Limited Auto Ancillaries 0.81 Bharat Petroleum Corporation Ltd. Petroleum Products 0.79 Arvind Ltd Textile Products 0.78 SBI Life Insurance Company Ltd Finance 0.77 IndusInd Bank Ltd. Banks 0.70 Inter Globe Aviation Ltd Transportation 0.69 Century Textiles & Industries Ltd. Cement 0.66 AIA Engineering Limited Industrial Products 0.63 Avenue Supermarts Ltd Retailing 0.63 Max Financial Services Ltd. Finance 0.62 Bayer Cropscience Ltd. Pesticides 0.55 Solar Industries India Limited Chemicals 0.48 Ashok Leyland Ltd. Auto 0.47 Jubilant Foodworks Limited Consumer Non Durables 0.46 Equitas Holdings Ltd Finance 0.37 Bharat Earth Movers Ltd. Industrial Capital Goods 0.28 Simran Wind Project Ltd. Construction Project 0.23 Laurus Labs Ltd Pharmaceuticals 0.21 Whirlpool of India Ltd. Consumer Durables 0.19 Max India Limited Healthcare Services 0.08 Kirloskar Oil Engines Ltd. Industrial Products 0.03 Equity & Equity Related - Total Futures Maruti Suzuki India Limited-OCT Hindustan Unilever Ltd.-OCT TERM DEPOSITS HDFC Bank Ltd Term Deposits - Total 0.46 Collateral Borrowing & Lending obligation 4.03 Net Current / (Liabilities) Investors understand that their principal will be at moderately high risk Long term capital growth Investment Portfolio of predominantly equity & equity related securities generally focused on a few selected sectors across market capitalisation. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Monthly SIP of ` Total amount invested ( `) Total Value as on Sep 28, 2018 ( `) Returns (%) Nifty 200 (TRI) ( `)# Nifty 200 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Financial Services Energy Information Technology Consumer Goods Automobile Cash & Cash Equivalent Construction Cement & Cement Products Pharma Services Nifty 50 (TRI) Returns (%) SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month Since Inception 7 years 5 years 3 years 1 year 10,90,000 8,40,000 6,00,000 3,60,000 1,20,000 22,62,560 15,31,147 8,60,038 4,26,231 1,18, ,34,772 13,63,154 8,18,141 4,34,028 1,20, ,99,100 13,36,010 8,14,724 4,42,725 1,24, Inception : - September 11, 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. # ; ^ Additional 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 Index instead of Price Return Variant (PRI). Kotak Standard Multicap Fund (Erstwhile Kotak Select Focus) NAV as on September 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

8 KOTAK EMERGING EQUITY SCHEME Mid cap fund - An open-ended equity scheme predominantly investing in mid cap stocks Investment style Value Blend Growth Size Large Mid Small Fund Manager: Mr. Pankaj Tibrewal* A 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 companies. The scheme may also invest in debt and money market instruments, as per the asset allocation table. There is no assurance that the investment objective of the scheme will be achieved. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover Beta Sharpe## Standard Deviation `3, crs `3, crs : Nifty Midcap 100 Allotment date: March 30, 2007 Folio count: 2,73,257 Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: 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: 2.36%; Direct: 1.26% 36.00% % Equity & Equity related Bharat Financial Inclusion Limited Finance 3.84 Schaeffler India Ltd Industrial Products 3.68 RBL Bank Ltd Banks 3.67 The Ramco Cements Ltd Cement 3.64 Atul Ltd. Chemicals 3.32 Supreme Industries Limited Industrial Products 2.88 Solar Industries India Limited Chemicals 2.84 Thermax Ltd. Industrial Capital Goods 2.52 Finolex Cables Ltd. Industrial Products 2.50 Shriram City Union Finance Ltd. Finance 2.50 P I INDUSTRIES LTD Pesticides 2.42 Emami Ltd. Consumer Non Durables 2.32 Tata Global Beverages Limited Consumer Non Durables 2.07 APL Apollo Tubes Limited Ferrous Metals 2.05 Sundaram Finance Ltd. Finance 2.05 Coromandel International Ltd. Fertilisers 2.02 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.93 Exide Industries Ltd Auto Ancillaries 1.91 SKF India Ltd Industrial Products 1.89 Amara Raja Batteries Ltd. Auto Ancillaries 1.87 Apollo Hospitals Enterprises Ltd. Healthcare Services 1.83 Federal Bank Ltd. Banks 1.83 AU Small Finance Bank Ltd. Banks 1.80 City Union Bank Ltd. Banks 1.77 Mahindra & Mahindra Financial Services Ltd. Finance 1.65 Godrej Agrovet Ltd Consumer Non Durables 1.63 Motherson Sumi Systems Ltd. Auto Ancillaries 1.54 Oberoi Realty Ltd Construction 1.53 SRF Ltd. Textile Products 1.50 Edelweiss Financial Services Ltd Finance 1.48 Kajaria Ceramics Ltd. Construction 1.46 Kewal Kiran Clothing Limited. Textile Products 1.45 Bata India Ltd. Consumer Durables 1.44 Lux Industries Limited Textile Products 1.44 Future Retail Ltd. Retailing 1.39 Notes: Term Deposit as provided above is towards margin for derivatives transactions. Large Cap, Midcap and Small cap stocks as a % age of Net : 2.85%, 65.77% & 29.96% SECTOR ALLOCATION (%) Eris Lifesciences Ltd Pharmaceuticals 1.34 Indraprastha Gas Ltd. Gas 1.34 TI Financial Holding ltd. Finance 1.24 Divi s Laboratories Limited Pharmaceuticals 1.23 Voltas Ltd. Construction Project 1.22 Abbott India Ltd. Pharmaceuticals 1.20 Whirlpool of India Ltd. Consumer Durables 1.14 Gujarat State Petronet Ltd. Gas 1.13 Navneet Education Ltd. Media and Entertainment 1.10 Hawkins Cooker Ltd Household Appliances 1.06 Eveready Industries India Ltd. Consumer Non Durables 1.05 Laurus Labs Ltd Pharmaceuticals 0.95 Ramkrishna Forgings Ltd. Industrial Products 0.84 Kirloskar Oil Engines Ltd. Industrial Products 0.81 Persistent Systems Limited Software 0.80 Sheela Foam Ltd Consumer Durables 0.78 WPIL Ltd Industrial Products 0.72 V-Guard Industries Ltd. Industrial Capital Goods 0.68 Bajaj Finance Limited Finance 0.67 Jindal Steel & Power Ltd. Ferrous Metals 0.67 PNC Infratech Ltd Construction 0.65 MRF Limited Auto Ancillaries 0.64 Bharat Earth Movers Ltd. Industrial Capital Goods 0.63 ICICI Securities Ltd Finance and Investments 0.61 D-Link (India) Ltd Hardware 0.22 HDFC Asset Management Company Ltd. Finance 0.11 Sundaram Finance Holdings Limited. Finance 0.11 Equity & Equity Related - Total TERM DEPOSITS HDFC Bank Ltd Term Deposits - Total 0.16 Collateral Borrowing & Lending obligation 1.32 Net Current / (Liabilities) Financial Services Industrial Manufacturing Consumer Goods Automobile Pharma Chemicals Construction Fertilisers & Pesticides Textiles Cement & Cement Products 3.64 Investors understand that their principal will be at moderately high risk Long term capital growth Investment in equity & equity related securities predominantly in mid cap companies. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Monthly SIP of ( `) Total amount invested ( `) Total Value as on Sep 28, 2018 ( `) Returns (%) Nifty Midcap 100 (TRI) ( `)# Nifty Midcap 100 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month Since Inception 10 years 7 years 5 years 3 years 1 year 13,90,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 36,39,151 30,37,213 16,14,338 8,65,899 3,92,989 1,07, ,63,465 25,53,849 14,11,543 8,09,894 3,91,462 1,06, ,15,187 23,03,563 13,36,010 8,14,724 4,42,725 1,24, Inception : - March 30, 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. # ; ^ Additional 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 Index instead of Price Return Variant (PRI). Kotak Emerging Equity NAV as on September 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no With Effect from 25th May 2018, the is changed to Nifty Midcap

9 KOTAK EQUITY OPPORTUNITIES FUND (Erstwhile Kotak Opportunities) Large & mid cap fund - An open-ended equity scheme investing in both large cap and mid cap stocks Investment style Value Blend Growth Size Large Mid Small Fund Manager: Mr. Harsha Upadhyaya* A The investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity and equity related securities. The scheme will invest predominantly in a mix of large and mid cap stocks from various sectors, which look promising, based on the growth pattern in the economy. There is no assurance that the investment objective of the scheme will be achieved. 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 Portfolio Turnover Beta Sharpe ## Standard Deviation `2, crs `2, crs : Nifty 200 Allotment date: September 9, 2004 Folio count: 1,38,755 Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: 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 Regular: 2.08%; Direct: 1.02% 97.20% % Investors understand that their principal will be at moderately high risk Long term capital growth Investment in portfolio of predominantly equity & equity related securities of large & midcap companies. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Equity & Equity related HDFC Bank Ltd. Banks 6.47 Reliance Industries Ltd. Petroleum Products 6.22 Tata Consultancy Services Ltd. Software 5.78 Infosys Ltd. Software 5.03 Bharat Financial Inclusion Limited Finance 4.13 ICICI Bank Ltd. Banks 3.88 Larsen And Toubro Ltd. Construction Project 3.83 HDFC Ltd. Finance 3.38 Gujarat State Petronet Ltd. Gas 2.85 The Ramco Cements Ltd Cement 2.49 Coromandel International Ltd. Fertilisers 2.48 Thermax Ltd. Industrial Capital Goods 2.44 Axis Bank Ltd Banks 2.37 Schaeffler India Ltd Industrial Products 2.08 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.96 GAIL (India) Ltd. Gas 1.92 Bata India Ltd. Consumer Durables 1.88 Jindal Steel & Power Ltd. Ferrous Metals 1.86 Shree Cement Ltd. Cement 1.82 Godrej Agrovet Ltd Consumer Non Durables 1.77 Max Financial Services Ltd. Finance 1.76 ICICI Lombard General Insurance Company Ltd Finance 1.74 Avenue Supermarts Ltd Retailing 1.66 Bajaj Finance Limited Finance 1.59 AIA Engineering Limited Industrial Products 1.53 Petronet LNG Ltd. Gas 1.45 Indraprastha Gas Ltd. Gas 1.38 Jubilant Foodworks Limited Consumer Non Durables 1.32 ITC Ltd. Consumer Non Durables 1.28 TI Financial Holding ltd. Finance 1.26 Lupin Ltd. Pharmaceuticals 1.16 OCL India Ltd Cement 1.16 Century Textiles & Industries Ltd. Cement 1.15 DR.Lal Pathlabs Ltd Healthcare Services 1.13 Indian Bank Banks 1.13 Note: Term Deposit as provided above is towards margin for derivatives transactions. Note: Large Cap, Midcap and Small cap stocks as a % age of Net : 51.09%, 34.63% & 10.57%. Monthly SIP of ( `) Total amount invested ( `) Total Value as on Sep 28, 2018( `) Returns (%) Nifty 200 (TRI) ( `)# Nifty 200 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) SECTOR ALLOCATION (%) SYSTEMATIC INVESTMENT PLAN (SIP) AU Small Finance Bank Ltd. Banks 1.09 Inter Globe Aviation Ltd Transportation 1.07 Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.02 SRF Ltd. Textile Products 0.96 Healthcare Global Enterprises Ltd Healthcare Services 0.83 Arvind Ltd Textile Products 0.82 Edelweiss Financial Services Ltd Finance 0.80 Linde India Ltd. Chemicals 0.77 Emami Ltd. Consumer Non Durables 0.74 Heritage Foods Ltd Consumer Non Durables 0.74 JK Cement Ltd. Cement 0.74 Bharat Earth Movers Ltd. Industrial Capital Goods 0.72 Simran Wind Project Ltd. Construction Project 0.54 Whirlpool of India Ltd. Consumer Durables 0.54 Equitas Holdings Ltd Finance 0.40 National Buildings Construction Corporation Limited Construction 0.17 Swaraj Engines Ltd Industrial Products 0.12 Maruti Suzuki India Limited Auto 0.01 Equity & Equity Related - Total % Redm Preference Sh Zee Entertainment Enterprises Ltd Media and Entertainment 0.04 Preference Share - Total 0.04 Futures Maruti Suzuki India Limited-OCT HDFC Ltd.-OCT TERM DEPOSITS HDFC Bank Ltd Term Deposits - Total 1.01 Collateral Borrowing & Lending obligation 1.40 Net Current / (Liabilities) Financial Services Energy Consumer Goods Information Technology Cement & Cement Products Industrial Manufacturing Construction Cash & Cash Equivalent Pharma Fertilisers & Pesticides Systematic Investment Plan (SIP) If you had invested `10,000 every month Since Inception 10 years 7 years 5 years 3 years 1 year ,90,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 50,00,312 24,93,690 13,97,410 8,08,671 4,08,097 1,14, ,61,283 23,62,531 13,63,154 8,18,141 4,34,028 1,20, ,27,719 23,03,509 13,36,010 8,14,724 4,42,725 1,24, Inception : - September 09, The returns are calculated by XIRR approach assuming investment of Rs. 10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional 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 Index instead of Price Return Variant (PRI). **Actual TER (Direct 1.01%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. Kotak Equity Opportunities Fund (Erstwhile Kotak Opportunities) NAV as on September 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no With Effect from 1st June 2018, the Name is changed to Nifty 200 TRI from Nifty 500 TRI. The above performance is benchmarked to Nifty 200 TRI 7 7

10 KOTAK BLUECHIP FUND (Erstwhile Kotak Mahindra 50 Unit ) Large cap fund - An open-ended equity scheme predominantly investing in large cap stocks Investment style Value Blend Growth Size Large Mid Small Fund Manager: A To generate capital appreciation from a portfolio of predominantly equity and equity related securities falling under the category of large cap companies. There is no assurance that the investment objective of the scheme will be achieved. 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 Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: 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: 2.24%; Direct: 1.15% Mr. Harish Krishnan* `1, crs `1, crs : NIFTY 50 Allotment date: December 29, 1998 Folio count: 92, % % Investors understand that their principal will be at moderately high risk Long term capital growth Investment in portfolio of predominantly equity & equity related securities of large cap companies * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Equity & Equity related Reliance Industries Ltd. Petroleum Products 8.60 HDFC Bank Ltd. Banks 8.47 Infosys Ltd. Software 5.03 Tata Consultancy Services Ltd. Software 4.79 ITC Ltd. Consumer Non Durables 4.43 IndusInd Bank Ltd. Banks 4.04 ICICI Bank Ltd. Banks 3.88 Tech Mahindra Ltd. Software 3.40 Mahindra & Mahindra Ltd. Auto 3.38 Larsen And Toubro Ltd. Construction Project 2.95 Axis Bank Ltd Banks 2.86 Maruti Suzuki India Limited Auto 2.74 GAIL (India) Ltd. Gas 2.62 State Bank Of India Banks 2.18 Asian Paints Ltd. Consumer Non Durables 2.13 Motherson Sumi Systems Ltd. Auto Ancillaries 1.73 Cadila Healthcare Ltd. Pharmaceuticals 1.59 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 1.46 Shree Cement Ltd. Cement 1.39 RBL Bank Ltd Banks 1.38 Sanofi India Ltd. Pharmaceuticals 1.32 HDFC Ltd. Finance 1.31 Dabur India Ltd Consumer Non Durables 1.28 Schaeffler India Ltd Industrial Products 1.20 Solar Industries India Limited Chemicals 1.19 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.19 Bandhan Bank Limited Banks 1.10 Zee Entertainment Enterprises Ltd Media and Entertainment 1.09 Bata India Ltd. Consumer Durables 1.05 Sun TV Network Ltd. Media and Entertainment 1.01 Ashok Leyland Ltd. Auto 0.98 Jindal Steel & Power Ltd. Ferrous Metals 0.95 Note: Term Deposit as provided above is towards margin for derivatives transactions Equity Derivative Exposuer is 0.81% Note: Large Cap, Midcap and Small cap stocks as a % age of Net : 82.33%, 9.9% & 4.11%. Monthly SIP of ( `) Total amount invested ( `) Total Value as on Sep 28, 2018( `) Returns (%) Nifty 50 (TRI) ( `)# Nifty 50 (TRI) Returns (%) S&P BSE SENSEX (TRI) ( `)^ S&P BSE SENSEX (TRI) Returns (%) SECTOR ALLOCATION (%) SYSTEMATIC INVESTMENT PLAN (SIP) Britannia Industries Ltd. Consumer Non Durables 0.89 Nestle India Ltd. Consumer Non Durables 0.88 The Ramco Cements Ltd Cement 0.86 Amara Raja Batteries Ltd. Auto Ancillaries 0.83 ICICI Lombard General Insurance Company Ltd Finance 0.78 Supreme Industries Limited Industrial Products 0.75 Edelweiss Financial Services Ltd Finance 0.73 Gujarat Gas Company Ltd Gas 0.70 Inter Globe Aviation Ltd Transportation 0.68 Hindustan Zinc Ltd. Non - Ferrous Metals 0.67 OCL India Ltd Cement 0.67 Eicher Motors Ltd Auto 0.66 HDFC Ltd. Warrants Finance 0.66 Ultratech Cement Ltd. Cement 0.61 Bajaj Finance Limited Finance 0.58 Bharat Petroleum Corporation Ltd. Petroleum Products 0.56 Wipro Ltd. Software 0.48 Coromandel International Ltd. Fertilisers 0.47 Indraprastha Gas Ltd. Gas 0.45 Equity & Equity Related - Total Futures Hindustan Zinc Ltd.-OCT Zee Entertainment Enterprises Ltd-OCT TERM DEPOSITS HDFC Bank Ltd Term Deposits - Total 0.49 Collateral Borrowing & Lending obligation 1.51 Net Current / (Liabilities) Financial Services Information Technology Energy Consumer Goods Automobile Pharma Cash & Cash Equivalent Cement & Cement Products Construction Media & Entertainment Systematic Investment Plan (SIP) If you had invested `10,000 every month Since Inception 10 years 7 years 5 years 3 years 1 year 23,70,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 1,74,76,612 24,72,996 13,07,913 7,82,749 4,09,866 1,18, ,31,34,139 24,80,694 13,36,010 8,14,724 4,42,725 1,24, ,28,00,944 25,08,604 13,48,345 8,20,827 4,49,874 1,26, Inception : - December 29, 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. # ; ^ Additional 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 Index instead of Price Return Variant (PRI). As TRI data is not available since inception of the scheme, benchmark SIP Performance is calculated by taking S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007 and TRI Values since 31st May Kotak Bluechip Fund (Erstwhile Kotak Mahindra 50 Unit ) NAV as on September 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

11 KOTAK SMALL CAP FUND (Erstwhile Kotak Midcap ) Small cap fund - An open-ended equity scheme predominantly investing in small cap stocks Investment style Value Blend Growth Size Large Mid Small Fund Manager: Mr. Pankaj Tibrewal* A However, there is no assurance that the objective of the scheme will be realized the investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity and equity related securities by investing... predominantly in small cap companies. There is no assurance that the investment objective of the scheme will be achieved. 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 Portfolio Turnover Beta Sharpe## Standard Deviation ` crs ` crs : NIFTY Smallcap 50 Allotment date: February 24, 2005 Folio count: 58,918 Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: 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 Regular: 2.50%; Direct: 1.40% 73.61% % Equity & Equity related Dixon Technologies India Ltd Consumer Durables 3.79 Atul Ltd. Chemicals 3.67 Simran Wind Project Ltd. Construction Project 3.11 Solar Industries India Limited Chemicals 3.08 Prataap Snacks Ltd Consumer Non Durables 3.07 JK Cement Ltd. Cement 2.93 Apollo Pipes Ltd Finance and Investments 2.81 Ratnamani Metals & Tubes Ltd. Ferrous Metals 2.66 Schaeffler India Ltd Industrial Products 2.54 RBL Bank Ltd Banks 2.48 Galaxy Surfactants Ltd Chemicals 2.42 V.S.T Tillers Tractors Ltd Auto 2.28 JMC Projects (India) Ltd Construction 2.12 APL Apollo Tubes Limited Ferrous Metals 2.10 Kewal Kiran Clothing Limited. Textile Products 2.10 Mahindra Lifespace Developers Ltd Construction 2.03 Finolex Cables Ltd. Industrial Products 1.91 Hawkins Cooker Ltd Household Appliances 1.85 Laurus Labs Ltd Pharmaceuticals 1.85 Shriram City Union Finance Ltd. Finance 1.84 Persistent Systems Limited Software 1.82 Lux Industries Limited Textile Products 1.77 Thermax Ltd. Industrial Capital Goods 1.74 IndusInd Bank Ltd. Banks 1.73 Sheela Foam Ltd Consumer Durables 1.70 Heritage Foods Ltd Consumer Non Durables 1.65 Aavas Financiers Ltd BANKING and FINANCE 1.64 AU Small Finance Bank Ltd. Banks 1.61 Supreme Industries Limited Industrial Products 1.59 Hindustan Oil Exploration Company Ltd. Oil 1.56 Blue Star Ltd. Consumer Durables 1.54 Nilkamal Plastics Limited. Industrial Products 1.54 Shoppers Stop Ltd. Retailing 1.48 Amber Enterprises India Ltd Consumer Durables 1.47 Eveready Industries India Ltd. Consumer Non Durables 1.47 Note: Large Cap, Midcap and Small cap stocks as a % age of Net : 6.53%, 16.32% & 73.71% SECTOR ALLOCATION (%) SKF India Ltd Industrial Products 1.46 The Ramco Cements Ltd Cement 1.43 Vardhman Textiles Ltd. Textiles - Cotton 1.43 Apar Industries Limited Industrial Capital Goods 1.31 Bajaj Finance Limited Finance 1.24 MRF Limited Auto Ancillaries 1.21 Carborundum Universal Ltd. Industrial Products 1.14 Sadbhav Engineering Ltd. Construction Project 1.06 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.06 Mahindra & Mahindra Financial Services Ltd. Finance 1.03 Sundaram Finance Ltd. Finance 1.02 PVR Ltd Media and Entertainment 1.01 Navneet Education Ltd. Media and Entertainment 0.99 Varroc Engineering Ltd. Auto Ancillaries 0.99 Strides Pharma Science Ltd Pharmaceuticals 0.95 Cadila Healthcare Ltd. Pharmaceuticals 0.87 Vinati Organics Ltd Chemicals 0.82 Bharat Earth Movers Ltd. Industrial Capital Goods 0.80 Motherson Sumi Systems Ltd. Auto Ancillaries 0.79 Security and Intelligence Services India Ltd Commercial Services 0.75 Shree Cement Ltd. Cement 0.69 Federal Bank Ltd. Banks 0.61 Great Eastern Shipping Company Ltd Transportation 0.41 Solara Active Pharma Sciences Ltd. Pharmaceuticals 0.10 Sundaram Finance Holdings Limited. Finance 0.08 Equity & Equity Related - Total Collateral Borrowing & Lending obligation 0.78 Net Current / (Liabilities) Consumer Goods Financial Services Industrial Manufacturing Chemicals Construction Investors understand that their principal will be at moderately high risk Long term capital growth Investment in equity & equity related securities predominantly in small cap Stocks. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Monthly SIP of ( `) Total amount invested ( `) Total Value as on Sep 28, 2018( `) Returns (%) Nifty Smallcap 50 (TRI) ( `)# Nifty Smallcap 50 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) Textiles Automobile Cement & Cement Products Pharma Metals SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month Since Inception 10 years 7 years 5 years 3 years 1 year 16,40,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 45,66,072 27,85,170 14,60,548 8,05,903 3,77,970 1,04, NA 16,91,566 10,47,630 6,15,504 3,08,212 85,997 NA ,74,549 23,03,563 13,36,010 8,14,724 4,42,725 1,24, 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. # ; ^ Additional **Actual TER (Direct 1.38%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. 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 Index instead of Price Return Variant (PRI). Kotak Small Cap Fund (Erstwhile Kotak Midcap ) as on September 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), `68.163(Growth Option), ` (Direct Growth Option) *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no With Effect from 25th May 2018, the is changed to Nifty Small cap 50 TRI 7 9

12 KOTAK TAX SAVER An open-ended equity linked saving scheme with a statutory lock in of 3 years and tax benefits Investment style Value Blend Growth Size Large Mid Small Fund Manager: Mr. Harsha Upadhyaya* A The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail the income tax rebate, as permitted from time to time however, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover Beta Sharpe## Standard Deviation ` crs ` crs : Nifty 500 Allotment date: November 23, 2005 Folio count: 1,33,939 Source: ICRA MFI Explorer. Initial Investment: `500 and in multiple of `500 Additional Investment: `500 & in multiples of `500 Ideal Investments Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: Exit Load is not applicable for Kotak Tax Saver. (applicable for all plans) Regular: 2.38%; Direct: 1.37% 84.44% % Equity & Equity related Reliance Industries Ltd. Petroleum Products 7.85 HDFC Bank Ltd. Banks 6.48 ICICI Bank Ltd. Banks 5.45 Tata Consultancy Services Ltd. Software 4.99 Infosys Ltd. Software 4.42 Larsen And Toubro Ltd. Construction Project 4.19 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 3.90 Bharat Financial Inclusion Limited Finance 3.06 AU Small Finance Bank Ltd. Banks 3.05 Shree Cement Ltd. Cement 2.73 GAIL (India) Ltd. Gas 2.55 Axis Bank Ltd Banks 2.48 SKF India Ltd Industrial Products 2.27 Ultratech Cement Ltd. Cement 2.19 Bajaj Auto Ltd. Auto 2.17 Thermax Ltd. Industrial Capital Goods 2.17 RBL Bank Ltd Banks 2.10 Bajaj Finance Limited Finance 1.90 Lupin Ltd. Pharmaceuticals 1.82 Whirlpool of India Ltd. Consumer Durables 1.82 OCL India Ltd Cement 1.81 Solar Industries India Limited Chemicals 1.60 Bata India Ltd. Consumer Durables 1.57 Mahanagar Gas Ltd Gas 1.37 Nestle India Ltd. Consumer Non Durables 1.31 Cadila Healthcare Ltd. Pharmaceuticals 1.30 The Ramco Cements Ltd Cement 1.30 Tech Mahindra Ltd. Software 1.25 AIA Engineering Limited Industrial Products 1.20 Gujarat State Petronet Ltd. Gas 1.06 Simran Wind Project Ltd. Construction Project 1.06 SRF Ltd. Textile Products 1.04 Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.02 Dr Reddys Laboratories Ltd Pharmaceuticals 1.02 Vedanta Ltd. Non - Ferrous Metals 1.02 Amara Raja Batteries Ltd. Auto Ancillaries 1.00 Hindalco Industries Ltd Non - Ferrous Metals 0.93 Jindal Steel & Power Ltd. Ferrous Metals 0.92 Hindustan Oil Exploration Company Ltd. Oil 0.86 APL Apollo Tubes Limited Ferrous Metals 0.85 Container Corporation of India Ltd. Transportation 0.84 Linde India Ltd. Chemicals 0.83 Max Financial Services Ltd. Finance 0.74 Aavas Financiers Ltd Banking and Finance 0.63 JMC Projects (India) Ltd Construction 0.61 Hawkins Cooker Ltd Household Appliances 0.59 Strides Pharma Science Ltd Pharmaceuticals 0.59 KSB Pump Ltd Industrial Products 0.38 Blue Dart Express Ltd. Transportation 0.34 Arvind Ltd Textile Products 0.21 Equity & Equity Related - Total % Redm Preference Sh Zee Entertainment Enterprises Ltd Media and Entertainment 0.08 Preference Shares - Total 0.08 Collateral Borrowing & Lending obligation 3.57 Net Current / SECTOR ALLOCATION (%) (Liabilities) 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. 7 Investors understand that their principal will be at moderately high risk Monthly SIP of ( `) Total amount invested ( `) Total Value as on Sep 28, 2018 ( `) Returns (%) Nifty 500 (TRI) ( `)# Nifty 500 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) Financial Services Energy Information Technology Consumer Goods Cement & Cement Products Industrial Manufacturing Construction Pharma Metals Automobile SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month Since Inception 10 years 7 years 5 years 3 years 1 year 15,50,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 33,86,351 23,70,944 13,66,580 8,13,334 4,11,055 1,17, ,93,691 23,65,814 13,64,464 8,15,792 4,28,782 1,18, ,36,521 23,03,563 13,36,010 8,14,724 4,42,725 1,24, Inception : - November 23, 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. # ; ^ Additional **Actual TER (Direct 1.35%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. 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 Index instead of Price Return Variant (PRI). Kotak Tax Saver NAV as on September 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option) ` (Direct Growth Option) *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

13 KOTAK INFRASTRUCTURE & ECONOMIC REFORM FUND An open-ended equity scheme following infrastructure & economic reform Investment style Value Blend Growth Size Large Mid Small Fund Manager: A The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of... predominantly equity and equity-related securities of companies involved in... economic development of India as a result of potential investments in infrastructure and unfolding economic reforms. However, there is no assurance that the objective of the scheme will be realized. 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 Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in... multiples of `1 Ideal Investments Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: 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; Regular: 2.56%; Direct: 1.23% Mr. Harish Krishnan* ` crs ` crs : India Infrastructure Index (Customised Index by IISL) Allotment date: February 25, 2008 Folio count: 25, % % Investors understand that their principal will be at high risk Long term capital growth Long term capital appreciation by investing in equity and equity related instruments of companies contributing to infrastructure and economic development of India * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Equity & Equity related Larsen And Toubro Ltd. Construction Project 5.46 Shree Cement Ltd. Cement 5.28 GAIL (India) Ltd. Gas 4.64 Ultratech Cement Ltd. Cement 4.17 Solar Industries India Limited Chemicals 3.86 Schaeffler India Ltd Industrial Products 3.85 Indraprastha Gas Ltd. Gas 3.79 Thermax Ltd. Industrial Capital Goods 3.33 SKF India Ltd Industrial Products 3.29 Container Corporation of India Ltd. Transportation 3.27 GE Power India Limited Industrial Capital Goods 3.07 Supreme Industries Limited Industrial Products 3.02 AIA Engineering Limited Industrial Products 3.01 Gujarat Gas Company Ltd Gas 2.66 Hindustan Oil Exploration Company Ltd. Oil 2.39 Bharat Earth Movers Ltd. Industrial Capital Goods 2.30 National Thermal Power Corporation Limited Power 2.17 H G Infra Engineering Ltd. Construction Project 2.15 Cummins India Ltd. Industrial Products 2.02 Amara Raja Batteries Ltd. Auto Ancillaries 1.93 The Ramco Cements Ltd Cement 1.86 Kirloskar Oil Engines Ltd. Industrial Products 1.85 Sterlite Technologies Ltd Telecom - Equipment & Accessories 1.80 Petronet LNG Ltd. Gas 1.76 CESC Ltd. Power 1.71 JMC Projects (India) Ltd Construction 1.71 Kajaria Ceramics Ltd. Construction 1.67 Monthly SIP of ` Total amount invested ( `) Total Value as on Sep 28, 2018( `) Returns (%) India Infrastructure Index (Customised Index by IISL) (TRI) ( `)# AU Small Finance Bank Ltd. Banks 1.64 JK Tyre & Industries Ltd. Auto Ancillaries 1.52 Tejas Networks Ltd Telecom - Equipment & Accessories 1.52 APL Apollo Tubes Limited Ferrous Metals 1.48 Ratnamani Metals & Tubes Ltd. Ferrous Metals 1.40 OCL India Ltd Cement 1.35 Sadbhav Engineering Ltd. Construction Project 1.30 WPIL Ltd Industrial Products 1.30 Jindal Steel & Power Ltd. Ferrous Metals 1.23 PNC Infratech Ltd Construction 1.16 Mahindra Lifespace Developers Ltd Construction 1.14 Ashok Leyland Ltd. Auto 1.09 GMR Infrastructure Ltd. Construction Project 1.05 Bharat Electronics Ltd Industrial Capital Goods 0.99 Kalpataru Power Transmission Ltd. Power 0.96 Huhtamaki PPL Ltd Industrial Products 0.93 Linde India Ltd. Chemicals 0.92 Simran Wind Project Ltd. Construction Project 0.76 Simplex Infrastructures Ltd Construction 0.74 Inter Globe Aviation Ltd Transportation 0.65 Equity & Equity Related - Total Collateral Borrowing & Lending obligation 0.62 Net Current / SECTOR ALLOCATION (%) SYSTEMATIC INVESTMENT PLAN (SIP) (Liabilities) Systematic Investment Plan (SIP) If you had invested `10,000 every month India Infrastructure Index (Customised Index by IISL)(TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) Industrial Manufacturing Energy Construction Cement & Cement Products Chemicals Automobile Metals Services Telecom Financial Services Since Inception 10 years 7 years 5 years 3 years 1 year 12,80,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 23,50,961 21,65,737 12,70,915 7,40,116 3,61,000 1,01, ,51,926 14,60,640 9,78,059 6,40,644 3,59,709 1,06, ,16,801 23,03,563 13,36,010 8,14,724 4,42,725 1,24, Inception : - February 25, 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. # ; ^ Additional **Actual TER (Regular 2.55% and Direct 1.21%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. 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 Index instead of Price Return Variant (PRI). Kotak Infrastructure & Economic Reform Fund NAV as on September 28, 2018: ` (Dividend Option), `19.42 (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no With Effect from 25th May 2018, the is changed to India Infrastructure Index (Customised Index by IISL) 7 11

14 KOTAK INDIA EQ CONTRA FUND (Erstwhile Kotak Classic Equity) An open-ended equity scheme following contrarian investment strategy Investment style Value Blend Growth Size Large Mid Small Fund Manager: A The investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity and equity related instruments. However, there is no assurance that the objective of the scheme will be realized. 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 Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Mr. Deepak Gupta* ` crs ` crs : NIFTY 100 Allotment date: July 27, 2005 Folio count: 34,545 Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: 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: 2.82%; Direct: 1.76% 36.29% % Equity & Equity related Reliance Industries Ltd. Petroleum Products 6.37 Infosys Ltd. Software 5.24 Tata Consultancy Services Ltd. Software 5.21 Hindustan Unilever Ltd. Consumer Non Durables 4.35 GAIL (India) Ltd. Gas 4.04 Bajaj Finance Limited Finance 3.92 Mahindra & Mahindra Ltd. Auto 3.86 ITC Ltd. Consumer Non Durables 3.36 Tech Mahindra Ltd. Software 3.26 Bharat Financial Inclusion Limited Finance 2.94 ACC Ltd. Cement 2.93 Maruti Suzuki India Limited Auto 2.93 Asian Paints Ltd. Consumer Non Durables 2.86 Titan Company Ltd. Consumer Durables 2.78 Larsen And Toubro Ltd. Construction Project 2.68 HDFC Ltd. Finance 2.26 Biocon Ltd. Pharmaceuticals 1.81 Britannia Industries Ltd. Consumer Non Durables 1.41 Jubilant Foodworks Limited Consumer Non Durables 1.34 HCL Technologies Ltd. Software 1.31 JSW Steel Ltd. Ferrous Metals 1.26 Tata Steel Limited. Ferrous Metals 1.21 Wipro Ltd. Software 1.15 Ashok Leyland Ltd. Auto 1.06 Dabur India Ltd Consumer Non Durables 0.81 Jindal Steel & Power Ltd. Ferrous Metals 0.80 Voltas Ltd. Construction Project 0.77 Bharat Forge Ltd. Industrial Products 0.72 Edelweiss Financial Services Ltd Finance 0.66 Bharti Airtel Ltd. Telecom - Services 0.65 Aavas Financiers Ltd BANKING and FINANCE 0.61 HDFC Asset Management Company Ltd. Finance 0.60 Zee Entertainment Enterprises Ltd Media and Entertainment 0.57 United Spirits Ltd. Consumer Non Durables 0.55 Ircon International Ltd Construction Project 0.51 RBL Bank Ltd Banks 0.43 Inter Globe Aviation Ltd Transportation 0.35 Shriram Transport Note: #Term Deposit as provided above is towards margin for derivatives transactions Equity Derivative Exposuer is 10.17% SECTOR ALLOCATION (%) Finance Co Ltd. Finance 0.35 Motherson Sumi Systems Ltd. Auto Ancillaries 0.33 ICICI Bank Ltd. Banks 0.31 Bajaj Finserv Ltd. Finance 0.30 AU Small Finance Bank Ltd. Banks 0.28 Indraprastha Gas Ltd. Gas 0.27 IndusInd Bank Ltd. Banks 0.26 Godrej Agrovet Ltd Consumer Non Durables 0.25 State Bank Of India Banks 0.25 Sun TV Network Ltd. Media and Entertainment 0.25 Amber Enterprises India Ltd Consumer Durables 0.24 Aditya Birla Capital Ltd Finance 0.23 Mahindra & Mahindra Financial Services Ltd. Finance 0.22 Tata Communications Ltd Telecom - Services 0.22 Avenue Supermarts Ltd Retailing 0.18 Eris Lifesciences Ltd Pharmaceuticals 0.18 HDFC Bank Ltd. Banks 0.08 Hindustan Petroleum Corporation Ltd Petroleum Products 0.06 Tata Steel Limited (Partly Paid Shares) Ferrous Metals 0.02 Equity & Equity Related - Total % Vedanta Reedemable Preference Shares Non - Ferrous Metals 0.03 Preference Share - Total 0.03 Futures HDFC Bank Ltd.-OCT CNX NIFTY-OCT Larsen And Toubro Ltd. -OCT TERM DEPOSITS HDFC Bank Ltd IDFC Bank Limited 0.17 Term Deposits - Total 2.48 Collateral Borrowing & Lending obligation Net Current / (Liabilities) Financial Services Consumer Goods Information Technology Energy Automobile Investors understand that their principal will be at moderately high risk 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. Monthly SIP of ` Total amount invested ( `) Total Value as on Sep 28, 2018( `) Returns (%) Nifty 100 (TRI) ( `)# Nifty 100 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) Cash & Cash Equivalent Others Construction Metals Cement & Cement Products SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month Since Inception 10 years 7 years 5 years 3 years 1 year 15,90,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 38,84,641 24,79,202 14,12,668 8,43,529 4,48,253 1,22, ,14,365 23,88,654 13,65,151 8,21,300 4,39,208 1,22, ,53,670 23,03,563 13,36,010 8,14,724 4,42,725 1,24, 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. # ; ^ Additional **Actual TER (Direct 1.74%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. 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 Index instead of Price Return Variant (PRI). Kotak India EQ Contra Fund (Erstwhile Kotak Classic Equity) NAV as on September 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

15 KOTAK INDIA GROWTH FUND SERIES 4 Multicap fund - A 36 months close ended equity scheme investing across large cap, midcap and small cap stocks Investment style Value Blend Growth Size Large Mid Small Fund Manager: Mr. Harsha Upadhyaya and Mr. Devender Singhal* A The investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity & equity related instruments across market... capitalisation and sectors. There is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plans/Options A)Regular Plan B) Direct Plan Options: Dividend Payout & Growth... (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover ` crs ` crs : Nifty 200 Allotment date: February 20, 2018 Folio count: 15,137 Source: ICRA MFI Explorer. The scheme is a close ended scheme. The units of the scheme can be traded on the stock exchange. Entry Load: Nil. (applicable for all plans) Exit Load: Nil. (applicable for all plans) Regular: 2.56%; Direct: 1.37% 53.19% Equity & Equity related ITC Ltd. Consumer Non Durables Bata India Ltd. Consumer Durables 5.05 Mahindra & Mahindra Ltd. Auto 3.81 City Union Bank Ltd. Banks 3.56 Tata Motors Ltd. Auto 3.38 Sun TV Network Ltd. Media and Entertainment 3.30 ICICI Bank Ltd. Banks 3.04 The Ramco Cements Ltd Cement 2.90 CESC Ltd. Power 2.78 Emami Ltd. Consumer Non Durables 2.55 Tech Mahindra Ltd. Software 2.52 Axis Bank Ltd Banks 2.49 Colgate Palmolive (India ) Ltd. Consumer Non Durables 2.49 Eris Lifesciences Ltd Pharmaceuticals 2.29 Jindal Steel & Power Ltd. Ferrous Metals 2.05 Bharat Forge Ltd. Industrial Products 2.04 HDFC Ltd. Finance 2.00 Eicher Motors Ltd Auto 1.89 RBL Bank Ltd Banks 1.87 GMR Infrastructure Ltd. Construction Project 1.86 Prataap Snacks Ltd Consumer Non Durables 1.86 State Bank Of India Banks 1.83 Motherson Sumi Systems Ltd. Auto Ancillaries 1.81 Bharat Earth Movers Ltd. Industrial Capital Goods 1.67 Abbott India Ltd. Pharmaceuticals 1.62 JMC Projects (India) Ltd Construction 1.54 Dalmia Bharat Ltd. Cement 1.51 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 1.51 IndusInd Bank Ltd. Banks 1.33 Note: #Term Deposit as provided above is towards margin for derivatives transactions Equity Derivative Exposuer is 8.06% SECTOR ALLOCATION (%) Century Textiles & Industries Ltd. Cement 1.07 Saregama India Ltd. Media and Entertainment 1.04 Ashok Leyland Ltd. Auto 1.01 Hero MotoCorp Ltd. Auto 0.98 HDFC Bank Ltd. Banks 0.97 Jammu and Kashmir Bank Ltd. Banks 0.72 Aavas Financiers Ltd BANKING and FINANCE 0.65 Ircon International Ltd Construction Project 0.39 Titan Company Ltd. Consumer Durables 0.03 Equity & Equity Related - Total Futures HDFC Bank Ltd.-OCT IndusInd Bank Ltd.-OCT Titan Company Ltd.-OCT Inter Globe Aviation Ltd-OCT Options CNX NIFTY Put Option - December ITC Ltd Put Option - October Options Total 4.27 TERM DEPOSITS RBL Bank Ltd HDFC Bank Ltd Term Deposits - Total 1.56 Collateral Borrowing & Lending obligation 9.38 Net Current / (Liabilities) Financial Services Consumer Goods Automobile Cement & Cement Products Media & Entertainment Others Cash & Cash Equivalent Pharma Industrial Manufacturing Construction Investors understand that their principal will be at moderately high risk Long term capital growth Investment in equity and equity related securities without any market capitalisation and sector bias. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak India Growth Fund Series 4 NAV as on September 28, 2018: `8.972 (Dividend Option), `9.002 (Direct Dividend Option), `8.972 (Growth Option), `9.009 (Direct Growth Option) *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

16 KOTAK INDIA GROWTH FUND SERIES 5 Multicap fund - A 1099 days close ended equity scheme investing across large cap, midcap and small cap stocks Investment style Value Blend Growth Size Large Mid Small Fund Manager: Mr. Harsha Upadhyaya and Mr. Harish Krishnan* A To generate capital appreciation from a diversified portfolio of equity & equity related instruments across market... capitalisation and sectors. There is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plans/Options A)Regular Plan B) Direct Plan Options: Dividend Payout & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover ` crs ` crs : Nifty 200 Allotment date: February 20, 2018 Folio count: 4,605 Source: ICRA MFI Explorer. The scheme is a close ended scheme. The units of the scheme can be traded on the stock exchange. Entry Load: Nil. (applicable for all plans) Exit Load: Nil. (applicable for all plans) Regular: 2.66%; Direct: 2.47% 5.43% Equity & Equity related Reliance Industries Ltd. Petroleum Products HDFC Bank Ltd. Banks 8.99 Bharat Financial Inclusion Limited Finance 5.07 Mahindra & Mahindra Ltd. Auto 4.87 Bandhan Bank Limited Banks 3.68 Coromandel International Ltd. Fertilisers 3.43 Laurus Labs Ltd Pharmaceuticals 3.06 GAIL (India) Ltd. Gas 3.05 Amara Raja Batteries Ltd. Auto Ancillaries 2.98 Motherson Sumi Systems Ltd. Auto Ancillaries 2.98 Mahindra Lifespace Developers Ltd Construction 2.78 Tata Motors Ltd. Auto 2.69 Sun TV Network Ltd. Media and Entertainment 2.60 Schaeffler India Ltd Industrial Products 2.50 APL Apollo Tubes Limited Ferrous Metals 2.47 GE Power India Limited Industrial Capital Goods 2.44 Vinati Organics Ltd Chemicals 2.36 Ashok Leyland Ltd. Auto 2.33 Future Retail Ltd. Retailing 2.17 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 2.10 Hindustan Oil Exploration Company Ltd. Oil 2.09 Note: #Term Deposit as provided above is towards margin for derivatives transactions Equity Derivative Exposuer is 3.01% Tejas Networks Ltd Telecom - Equipment & Accessories 2.02 Bajaj Finance Limited Finance 1.99 Varroc Engineering Ltd. Auto Ancillaries 1.99 CRISIL Ltd. Finance 1.88 AIA Engineering Limited Industrial Products 1.76 Edelweiss Financial Services Ltd Finance 1.74 RBL Bank Ltd Banks 1.59 Inter Globe Aviation Ltd Transportation 1.52 Saregama India Ltd. Media and Entertainment 1.47 Ratnamani Metals & Tubes Ltd. Ferrous Metals 1.39 Solar Industries India Limited Chemicals 1.08 HDFC Asset Management Company Ltd. Finance 0.75 Aavas Financiers Ltd Banking and Finance 0.64 Equity & Equity Related - Total TERM DEPOSITS HDFC Bank Ltd Term Deposits - Total 2.82 Collateral Borrowing & Lending obligation 1.70 Net Current / SECTOR ALLOCATION (%) (Liabilities) Banks Finance Petroleum Products Auto Auto Ancillaries Pharmaceuticals CBLO & Term Deposits & Rev.Repo Industrial Products Media and Entertainment Ferrous Metals REST Investors understand that their principal will be at moderately high risk Long term capital growth Investment in equity and equity related securities without any market capitalisation and sector bias. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak India Growth Fund Series 5 NAV as on September 28, 2018: `9.488 (Dividend Option), `9.495 (Direct Dividend Option), `9.488 (Growth Option), `9.495 (Direct Growth Option) *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

17 KOTAK INDIA GROWTH FUND SERIES 7 Investment style Value Blend Growth Size Large Mid Multicap Fund - A 36 months close ended equity scheme investing across large cap, midcap and small cap stocks. Small Fund Manager: Mr. Harsha Upadhyaya* A `32.16 crs `31.77 crs : Nifty 50 Allotment date: August 31, 2018 Folio count: 561 Equity & Equity related HDFC Bank Ltd. Banks 9.39 Reliance Industries Ltd. Petroleum Products 7.85 City Union Bank Ltd. Banks 1.35 Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.31 Amara Raja Batteries Ltd. Auto Ancillaries 1.29 The investment objective of the scheme is to generate capital appreciation from a diversified portfolio of equity & equity related instruments across market capitalisation and sectors. It also endeavors to manage risks through equity derivatives. There is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plans/Options A)Regular Plan B) Direct Plan Options: Dividend Payout & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion The scheme is a close ended scheme. The units of the scheme can be traded on the stock exchange. Entry Load: Nil. (applicable for all plans) Exit Load: Nil. (applicable for all plans) Regular: 2.84%; Direct: 2.42% Infosys Ltd. Software 7.08 ICICI Bank Ltd. Banks 7.03 ITC Ltd. Consumer Non Durables 5.80 Tata Consultancy Services Ltd. Software 5.20 Axis Bank Ltd Banks 4.12 IndusInd Bank Ltd. Banks 3.55 Mahindra & Mahindra Ltd. Auto 2.90 Shree Cement Ltd. Cement 2.22 Tech Mahindra Ltd. Software 2.22 Indraprastha Gas Ltd. Gas 2.11 Emami Ltd. Consumer Non Durables 2.10 RBL Bank Ltd Banks 1.99 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.97 Dr Reddys Laboratories Ltd Pharmaceuticals 1.96 AU Small Finance Bank Ltd. Banks 1.95 Aurobindo Pharma Ltd. Pharmaceuticals 1.74 Bharat Forge Ltd. Industrial Products 1.70 Supreme Industries Limited Industrial Products 1.64 Bajaj Finance Limited Finance 1.58 Larsen And Toubro Ltd. Construction Project 1.45 Larsen & Toubro Infotech Ltd Software 1.40 Maruti Suzuki India Limited Auto 1.22 Britannia Industries Ltd. Consumer Non Durables 1.04 Voltas Ltd. Construction Project 0.95 State Bank Of India Banks 0.78 Bandhan Bank Limited Banks 0.43 Equity & Equity Related - Total Options CNX NIFTY Put Option - June CNX NIFTY Put Option - June CNX NIFTY Put Option - June Options Total 6.69 Collateral Borrowing & Lending obligation 0.31 Net Current / (Liabilities) 5.68 Note: #Term Deposit as provided above is towards margin for derivatives transactions Equity Derivative Exposuer is 3.01% SECTOR ALLOCATION (%) Banks Software Consumer Non Durables Petroleum Products Derivatives Pharmaceuticals Auto Industrial Products Construction Project Cement REST Investors understand that their principal will be at moderately high risk Wealth creation over a long period of time. Investment in equity, equity related securities & debt, money market instruments while managing risk through active allocation. *Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak India Growth Fund Series 7 NAV as on September 28, 2018: `9.848 (Dividend Option), `9.851 (Direct Dividend Option), `9.848 (Growth Option), `9.851 (Direct Growth Option) **Actual TER (Direct 2.34%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

18 KOTAK EQUITY ARBITRAGE An open-ended scheme investing in arbitrage opportunities Maturity Short Medium Long Volatility Medium Investment style Value Blend Growth Size Large Mid Small Fund Manager: Mr. Deepak Gupta* A The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and by investing the balance in debt and money market instruments. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Fortnightly (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 Portfolio Turnover Beta Sharpe## Standard Deviation `11, crs `11, crs : Nifty 50 Arbitrage Allotment date: September 29, 2005 Folio count: 24,592 Source: ICRA MFI Explorer. 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 months & above Entry 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 Regular: 0.94%; Direct: 0.44% % % Investors understand that their principal will be at moderately low risk Income from arbitrage opportunities in the equity market Investment in arbitrage opportunities in the cash & derivatives segment of the equity market. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. % to Net Derivatives Equity & Equity related Hedged Reliance Industries Ltd. Petroleum Products Yes Bank Ltd Banks Maruti Suzuki India Limited Auto Aurobindo Pharma Ltd. Pharmaceuticals Britannia Industries Ltd. Consumer Non Durables Indiabulls Housing Finance Ltd. Finance Wipro Ltd. Software ICICI Bank Ltd. Banks Nestle India Ltd. Consumer Non Durables Hindustan Petroleum Corporation Ltd Petroleum Products Marico Ltd. Consumer Non Durables United Spirits Ltd. Consumer Non Durables Vedanta Ltd. Non - Ferrous Metals Tata Steel Limited. Ferrous Metals Tech Mahindra Ltd. Software LIC Housing Finance Ltd. Finance MindTree Ltd. Software Hindalco Industries Ltd Non - Ferrous Metals State Bank Of India Banks Dabur India Ltd Consumer Non Durables Ashok Leyland Ltd. Auto Bajaj Finserv Ltd. Finance Idea Cellular Ltd. Telecom - Services Zee Entertainment Enterprises Ltd Media and Entertainment Piramal Enterprises Limited Pharmaceuticals Bharat Forge Ltd. Industrial Products UPL Ltd Pesticides Bank Of Baroda Banks Godrej Consumer Products Ltd. Consumer Non Durables Motherson Sumi Systems Ltd. Auto Ancillaries Biocon Ltd. Pharmaceuticals NMDC Ltd. Minerals/Mining Steel Authority of India Ltd. Ferrous Metals Bosch Limited Auto Ancillaries Glenmark Pharmaceuticals Ltd Pharmaceuticals Bajaj Finance Limited Finance Dr Reddys Laboratories Ltd Pharmaceuticals HDFC Ltd. Finance Jubilant Foodworks Limited Consumer Non Durables L&T Finance Holdings Ltd Finance Cadila Healthcare Ltd. Pharmaceuticals Indian Oil Corporation Ltd Petroleum Products Punjab National Bank Banks Shriram Transport Finance Co Ltd. Finance Grasim Industries Ltd. Cement Titan Company Ltd. Consumer Durables Mahindra & Mahindra Ltd. Auto Power Finance Corporation Ltd. Finance Hindustan Unilever Ltd. Consumer Non Durables Mahindra & Mahindra Financial Services Ltd. Finance Rural Electrification Corporation Ltd Finance Axis Bank Ltd Banks ICICI Prudential Life Insurance Company Ltd Finance Divi s Laboratories Limited Pharmaceuticals Adani Port and Special Economic Zone Limited Transportation IDFC Limited Finance Sun TV Network Ltd. Media and Entertainment Tata Motors Ltd - DVR Auto Bharat Electronics Ltd Industrial Capital Goods Tata Power Co. Ltd. Power Bharat Petroleum Corporation Ltd. Petroleum Products CESC Ltd. Power Escorts Ltd. Auto National Aluminium Company Ltd Non - Ferrous Metals Exide Industries Ltd Auto Ancillaries Jindal Steel & Power Ltd. Ferrous Metals NIIT Technologies Ltd Software Apollo Tyres Ltd. Auto Ancillaries Lupin Ltd. Pharmaceuticals Federal Bank Ltd. Banks Havells India Ltd. Consumer Durables MRF Limited Auto Ancillaries Adani Enterprises Ltd Trading Eicher Motors Ltd Auto Manappuram Finance Ltd Finance **Actual TER (Regular 0.93%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

19 KOTAK EQUITY ARBITRAGE An open-ended scheme investing in arbitrage opportunities % to Net Derivatives GMR Infrastructure Ltd. Construction Project Century Textiles & Industries Ltd. Cement Petronet LNG Ltd. Gas Tata Elxsi Ltd. Software Balkrishna Industries Ltd Auto Ancillaries Torrent Pharmaceuticals Ltd. Pharmaceuticals NCC Limited Construction Project Sun Pharmaceuticals Industries Ltd. Pharmaceuticals Ultratech Cement Ltd. Cement Ambuja Cements Ltd Cement Apollo Hospitals Enterprises Ltd. Healthcare Services Hexaware Technologies Ltd. Software IDFC Bank Limited Banks Bajaj Auto Ltd. Auto Cummins India Ltd. Industrial Products DLF Limited Construction KPIT Technologies LImited Software Mahanagar Gas Ltd Gas National Buildings Construction Corporation Limited Construction RBL Bank Ltd Banks Siemens Ltd. Industrial Capital Goods Bata India Ltd. Consumer Durables Strides Pharma Science Ltd Pharmaceuticals Canara Bank Banks Godrej Industries Ltd Consumer Non Durables Shree Cement Ltd. Cement Kajaria Ceramics Ltd. Construction Suzlon Energy Ltd. Industrial Capital Goods Adani Power Ltd Power Karnataka Bank Ltd Banks Raymond Limited Textile Products Reliance Capital Ltd. Finance SRF Ltd. Textile Products Capital First Ltd Finance Indian Bank Banks ITC Ltd. Consumer Non Durables United Breweries Ltd. Consumer Non Durables Bharti Airtel Ltd. Telecom - Services GAIL (India) Ltd. Gas Reliance Infrastructure Ltd Power Bharti Infratel Ltd. Telecom - Equipment & Accessories PVR Ltd Media and Entertainment Union Bank Of India Banks Engineers India Ltd. Construction Project Equitas Holdings Ltd Finance Reliance Communications Ltd. Telecom - Services The South Indian Bank Ltd. Banks CG Power and Industrial Solutions Limited Industrial Capital Goods IndusInd Bank Ltd. Banks Industrial Development Bank of India Ltd. Banks ACC Ltd. Cement Ujjivan Financial Services Ltd Finance Ajanta Pharma Ltd. Pharmaceuticals IRB Infrastructure Developers Ltd Construction Pidilite Industries Ltd. Chemicals TV18 Broadcast Ltd Media and Entertainment Wockhardt Ltd. Pharmaceuticals Cholamandalam Investment and Finance Company Ltd Finance Container Corporation of India Ltd. Transportation Jain Irrigation Systems Ltd. Industrial Products Oracle Financial Services Software Ltd Software Tata Motors Ltd. Auto Coal India Ltd. Minerals/Mining Dish TV India Ltd. Media and Entertainment Indraprastha Gas Ltd. Gas V-Guard Industries Ltd. Industrial Capital Goods Bank of India Banks Colgate Palmolive (India ) Ltd. Consumer Non Durables Godfrey Phillips India Ltd. Consumer Non Durables IFCI Ltd. Finance Infosys Ltd. Software Bharat Financial Inclusion Limited Finance Can Fin Homes Ltd. Finance Granules India Ltd. Pharmaceuticals NHPC Limited Power Oil & Natural Gas Corporation Ltd. Oil Tata Consultancy Services Ltd. Software

20 KOTAK EQUITY ARBITRAGE An open-ended scheme investing in arbitrage opportunities % to Net Derivatives Bharat Heavy Electricals Ltd. Industrial Capital Goods HCL Technologies Ltd. Software JSW Steel Ltd. Ferrous Metals Kaveri Seed Company Ltd. Consumer Non Durables Larsen And Toubro Ltd. Construction Project Oil India Limited Oil Power Grid Corporation Of India Ltd Power Reliance Power Ltd Power Syndicate Bank Banks Tata Chemicals Ltd. Chemicals CEAT Ltd. Auto Ancillaries HDFC Bank Ltd. Banks Hero MotoCorp Ltd. Auto Hindustan Construction Co.Ltd Construction Project Tata Communications Ltd Telecom - Services Amara Raja Batteries Ltd. Auto Ancillaries Bharat Earth Movers Ltd. Industrial Capital Goods Chennai Petroleum Corporation Ltd Petroleum Products Gujarat State Fertilizers & Chemicals Ltd. Fertilisers India Cements Ltd. Cement Inter Globe Aviation Ltd Transportation Jaiprakash Associates Ltd Cement Mangalore Refinery And Petrochemicals Ltd. Petroleum Products Max Financial Services Ltd. Finance National Thermal Power Corporation Limited Power PTC India Ltd. Power Hedged - Total Equity & Equity Related - Total Mutual Fund Units Kotak Mahindra Liquid Direct Plan Growth Mutual Fund Units 3.69 Kotak Corporate Bond Fund Direct Growth Mutual Fund Units 0.46 Mutual Fund Units - Total 4.15 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions HDFC Ltd. CRISIL AAA 2.28 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 1.90 Corporate Debt/Financial Institutions - Total 4.18 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions HDFC Ltd. CRISIL A Bajaj Finance Ltd. CRISIL A Gruh Finance Ltd. CRISIL A Sundaram BNP Paribas Home Finance Ltd CRISIL A Sundaram Finance Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 6.94 TERM DEPOSITS HDFC Bank Ltd AXIS Bank Ltd IDFC Bank Limited 1.69 IndusInd Bank Ltd AU Small Finance Bank Ltd Federal Bank Ltd RBL Bank Ltd Term Deposits - Total Collateral Borrowing & Lending obligation 0.35 Net Current /(Liabilities) 3.76 Note:Term Deposit as provided above is towards margin for derivatives transactions SECTOR ALLOCATION (%) CBLO & Term Deposits & Rev.Repo Finance Consumer Non Durables Banks Commercial Paper (CP)/Certi cate of Deposits (CD) Pharmaceuticals Debentures and Bonds Auto Petroleum Products Software REST Kotak Equity Arbitrage NAV as on September 28, 2018: ` (Monthly Dividend Option), ` (Direct monthly Dividend Option), ` (Growth Option), ` (Direct Growth Option), ` (Bimonthly Option), ` (Direct Bimonthly Option), ` (Fortnightly Dividend), ` (Direct Fortnightly Dividend) 18

21 KOTAK BALANCED ADVANTAGE FUND An open ended dynamic asset allocation fund Maturity Short Medium Long Volatility Med Investment style Value Blend Growth Size Large Mid Small Fund Manager: A The investment objective of the scheme is to generate capital appreciation by investing in a dynamically balanced portfolio of equity & equity related securities and debt & money market securities. 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 Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Entry 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. Regular: 2.32%; Direct: 0.98% Mr. Deepak Gupta, Mr. Harish Krishnan & Mr. Abhishek Bisen* `2, crs `2, crs : NIFTY 50 Hybrid Composite Debt 50:50 Index Allotment date: August 3, 2018 Folio count: 60,097 Portfolio Turnover 21.66% Investors understand that their principal will be at moderately high risk Wealth creation over a long period of time. Investment in equity, equity related securities & debt, money market instruments while managing risk through active allocation. Investors should consult their financial advisors if in doubt about whether the product is suitable for them. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. % to Net Derivatives Equity & Equity related Non-Hedged Reliance Industries Ltd. Petroleum Products 3.24 HDFC Bank Ltd. Banks 2.75 Tata Consultancy Services Ltd. Software 1.84 HDFC Ltd. Finance 1.80 Infosys Ltd. Software 1.60 ITC Ltd. Consumer Non Durables 1.55 Mahindra & Mahindra Ltd. Auto 1.47 Bharat Financial Inclusion Limited Finance 1.46 ICICI Bank Ltd. Banks 1.24 Axis Bank Ltd Banks 1.18 Asian Paints Ltd. Consumer Non Durables 1.10 Tech Mahindra Ltd. Software 1.10 Larsen And Toubro Ltd. Construction Project 1.09 Maruti Suzuki India Limited Auto 0.93 State Bank Of India Banks 0.84 Ashok Leyland Ltd. Auto 0.79 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.79 GAIL (India) Ltd. Gas 0.73 Dabur India Ltd Consumer Non Durables 0.70 The Ramco Cements Ltd Cement 0.64 Shree Cement Ltd. Cement 0.63 Ultratech Cement Ltd. Cement 0.59 Sun TV Network Ltd. Media and Entertainment 0.58 Edelweiss Financial Services Ltd Finance 0.56 Gujarat Gas Company Ltd Gas 0.54 Motherson Sumi Systems Ltd. Auto Ancillaries 0.54 RBL Bank Ltd Banks 0.54 Bandhan Bank Limited Banks 0.50 Coromandel International Ltd. Fertilisers 0.45 APL Apollo Tubes Limited Ferrous Metals 0.39 Indraprastha Gas Ltd. Gas 0.38 Hindustan Zinc Ltd. Non - Ferrous Metals Inter Globe Aviation Ltd Transportation 0.33 Mahindra Lifespace Developers Ltd Construction 0.22 Zee Entertainment Enterprises Ltd Media and Entertainment 0.18 Non-Hedged- Total Hedged Punjab National Bank Banks National Aluminium Company Ltd Non - Ferrous Metals Tata Motors Ltd - DVR Auto Indiabulls Housing Finance Ltd. Finance Strides Pharma Science Ltd Pharmaceuticals Aurobindo Pharma Ltd. Pharmaceuticals Indian Bank Banks NCC Limited Construction Project Mahanagar Gas Ltd Gas Raymond Limited Textile Products Idea Cellular Ltd. Telecom - Services Yes Bank Ltd Banks Jubilant Foodworks Limited Consumer Non Durables Escorts Ltd. Auto Adani Enterprises Ltd Trading KPIT Technologies LImited Software Maruti Suzuki India Limited Auto Cadila Healthcare Ltd. Pharmaceuticals ICICI Bank Ltd. Banks Tata Elxsi Ltd. Software Sun TV Network Ltd. Media and Entertainment Bank Of Baroda Banks GMR Infrastructure Ltd. Construction Project Ashok Leyland Ltd. Auto Reliance Infrastructure Ltd Power Grasim Industries Ltd. Cement Bharat Petroleum Corporation Ltd. Petroleum Products Power Finance Corporation Ltd. Finance Reliance Communications Ltd. Telecom - Services Ujjivan Financial Services Ltd Finance Dabur India Ltd Consumer Non Durables HDFC Ltd. Finance LIC Housing Finance Ltd. Finance Mahindra & Mahindra Financial Services Ltd. Finance ITC Ltd. Consumer Non Durables Steel Authority of India Ltd. Ferrous Metals Apollo Tyres Ltd. Auto Ancillaries Indian Oil Corporation Ltd Petroleum Products *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

22 KOTAK BALANCED ADVANTAGE FUND An open ended dynamic asset allocation fund % to Net Derivatives Piramal Enterprises Limited Pharmaceuticals Union Bank Of India Banks Bank of India Banks CESC Ltd. Power Dr Reddys Laboratories Ltd Pharmaceuticals Eicher Motors Ltd Auto Granules India Ltd. Pharmaceuticals Manappuram Finance Ltd Finance Wipro Ltd. Software Bajaj Finance Limited Finance Kajaria Ceramics Ltd. Construction Ultratech Cement Ltd. Cement Hindustan Petroleum Corporation Ltd Petroleum Products IRB Infrastructure Developers Ltd Construction Jain Irrigation Systems Ltd. Industrial Products Adani Port and Special Economic Zone Limited Transportation State Bank Of India Banks Karnataka Bank Ltd Banks Lupin Ltd. Pharmaceuticals Motherson Sumi Systems Ltd. Auto Ancillaries Apollo Hospitals Enterprises Ltd. Healthcare Services CG Power and Industrial Solutions Limited Industrial Capital Goods Chennai Petroleum Corporation Ltd Petroleum Products PC Jeweller Ltd Consumer Durables Shree Cement Ltd. Cement Tata Consultancy Services Ltd. Software Adani Power Ltd Power UPL Ltd Pesticides Wockhardt Ltd. Pharmaceuticals Bharat Forge Ltd. Industrial Products DLF Limited Construction Havells India Ltd. Consumer Durables NMDC Ltd. Minerals/Mining Oil & Natural Gas Corporation Ltd. Oil Bajaj Finserv Ltd. Finance Cholamandalam Investment and Finance Company Ltd Finance Tech Mahindra Ltd. Software Vedanta Ltd. Non - Ferrous Metals Zee Entertainment Enterprises Ltd Media and Entertainment Capital First Ltd Finance Glenmark Pharmaceuticals Ltd Pharmaceuticals Nestle India Ltd. Consumer Non Durables Britannia Industries Ltd. Consumer Non Durables Shriram Transport Finance Co Ltd. Finance United Spirits Ltd. Consumer Non Durables NIIT Technologies Ltd Software Tata Chemicals Ltd. Chemicals Canara Bank Banks Century Textiles & Industries Ltd. Cement Godrej Consumer Products Ltd. Consumer Non Durables Hindustan Unilever Ltd. Consumer Non Durables Pidilite Industries Ltd. Chemicals Reliance Capital Ltd. Finance Suzlon Energy Ltd. Industrial Capital Goods Balkrishna Industries Ltd Auto Ancillaries Divi s Laboratories Limited Pharmaceuticals Hindalco Industries Ltd Non - Ferrous Metals ICICI Prudential Life Insurance Company Ltd Finance Marico Ltd. Consumer Non Durables Power Grid Corporation Of India Ltd Power SRF Ltd. Textile Products Ajanta Pharma Ltd. Pharmaceuticals Axis Bank Ltd Banks Colgate Palmolive (India ) Ltd. Consumer Non Durables Dish TV India Ltd. Media and Entertainment GAIL (India) Ltd. Gas Industrial Development Bank of India Ltd. Banks Mahindra & Mahindra Ltd. Auto MRF Limited Auto Ancillaries Reliance Industries Ltd. Petroleum Products V-Guard Industries Ltd. Industrial Capital Goods Ambuja Cements Ltd Cement CEAT Ltd. Auto Ancillaries Reliance Power Ltd Power Rural Electrification Corporation Ltd Finance Tata Power Co. Ltd. Power

23 KOTAK BALANCED ADVANTAGE FUND An open ended dynamic asset allocation fund % to Net Derivatives Bharat Earth Movers Ltd. Industrial Capital Goods Bharti Airtel Ltd. Telecom - Services Bharti Infratel Ltd. Telecom - Equipment & Accessories Engineers India Ltd. Construction Project Exide Industries Ltd Auto Ancillaries Federal Bank Ltd. Banks IDFC Bank Limited Banks India Cements Ltd. Cement Indraprastha Gas Ltd. Gas L&T Finance Holdings Ltd Finance MindTree Ltd. Software PVR Ltd Media and Entertainment Sun Pharmaceuticals Industries Ltd. Pharmaceuticals Tata Communications Ltd Telecom - Services Tata Motors Ltd. Auto Tata Steel Limited. Ferrous Metals The Ramco Cements Ltd Cement The South Indian Bank Ltd. Banks Can Fin Homes Ltd. Finance Coal India Ltd. Minerals/Mining Cummins India Ltd. Industrial Products Dewan Housing Finance Corporation Ltd. Finance Equitas Holdings Ltd Finance Godfrey Phillips India Ltd. Consumer Non Durables Godrej Industries Ltd Consumer Non Durables Gujarat State Fertilizers & Chemicals Ltd. Fertilisers Hexaware Technologies Ltd. Software Hindustan Construction Co.Ltd Construction Project IDFC Limited Finance JSW Steel Ltd. Ferrous Metals National Buildings Construction Corporation Limited Construction National Thermal Power Corporation Limited Power RBL Bank Ltd Banks Hedged - Total Equity & Equity related Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions HDFC Ltd. CRISIL AAA 7.64 Corporate Debt/Financial Institutions - Total 7.64 Public Sector Undertakings National Bank for Agriculture & Rural Development CRISIL AAA 5.83 Power Finance Corporation Ltd. CRISIL AAA 2.29 Small Industries Development Bank Of India CARE AAA 0.33 Public Sector Undertakings - Total 8.45 Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Tata Capital Financial Services Limited CRISIL A HDFC Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 7.40 TERM DEPOSITS HDFC Bank Ltd RBL Bank Ltd AU Small Finance Bank Ltd Term Deposits - Total Collateral Borrowing & Lending obligation 1.31 Net Current /(Liabilities) Term Deposit as provided above is towards margin for derivatives transactions SECTOR ALLOCATION (%) Debentures and Bonds CBLO & Term Deposits & Rev.Repo Commercial Paper (CP)/Certi cate of Deposits (CD) Banks Software Finance Consumer Non Durables Petroleum Products Auto Cement REST (^) Fully or Party blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 4.63% of the net assets. kotak Balanced Advantage Fund NAV as on September 28, 2018: `9.875 (Dividend Option), `9.896 (Direct Dividend Option), `9.875 (Growth Option) `9.896 (Direct Growth Option) 21

24 KOTAK EQUITY HYBRID (Erstwhile Kotak Balance) An open-ended hybrid scheme investing predominantly in equity and equity related instruments Investment style Value Blend Growth Size Large Mid Small Fund Manager: A Investment objective of the scheme is to achieve growth by investing in equity and equity related instruments, balanced with income generation by investing in debt and money market instruments. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Half Yearly (25th of Mar/Sep) Ratios Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: 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. Regular: 2.15%; Direct: 1.02% Mr. Pankaj Tibrewal & Mr. Abhishek Bisen* `1, crs `1, crs : NIFTY 50 Hybrid Composite Debt 70:30 Index Allotment date: November 25, 1999 Folio count: 47, % Investors understand that their principal will be at moderately high risk % Long term capital growth Investment in equity & equity related securities balanced with income generation by investing in debt & money. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Equity & Equity related HDFC Bank Ltd. Banks 5.11 HDFC Ltd. Finance 3.83 ICICI Bank Ltd. Banks 3.14 Infosys Ltd. Software 3.09 Reliance Industries Ltd. Petroleum Products 2.70 Shree Cement Ltd. Cement 2.46 State Bank Of India Banks 2.46 Bharat Financial Inclusion Limited Finance 2.44 ITC Ltd. Consumer Non Durables 2.38 Larsen And Toubro Ltd. Construction Project 2.07 Tata Consultancy Services Ltd. Software 2.04 Axis Bank Ltd Banks 1.96 Schaeffler India Ltd Industrial Products 1.77 Atul Ltd. Chemicals 1.64 RBL Bank Ltd Banks 1.61 AU Small Finance Bank Ltd. Banks 1.57 Thermax Ltd. Industrial Capital Goods 1.56 Mahindra & Mahindra Ltd. Auto 1.55 JK Cement Ltd. Cement 1.51 Bandhan Bank Limited Banks 1.41 The Ramco Cements Ltd Cement 1.34 Emami Ltd. Consumer Non Durables 1.30 Solar Industries India Limited Chemicals 1.20 V.S.T Tillers Tractors Ltd Auto 1.19 Maruti Suzuki India Limited Auto 1.18 Simran Wind Project Ltd. Construction Project 1.14 Tata Motors Ltd. Auto 1.14 Vedanta Ltd. Non - Ferrous Metals 1.09 GAIL (India) Ltd. Gas 1.08 Motherson Sumi Systems Ltd. Auto Ancillaries 1.07 Lupin Ltd. Pharmaceuticals 1.01 Dr Reddys Laboratories Ltd Pharmaceuticals 1.00 Bharat Petroleum Corporation Ltd. Petroleum Products 0.99 Bajaj Finserv Ltd. Finance 0.96 Dixon Technologies India Ltd Consumer Durables 0.96 Bajaj Auto Ltd. Auto 0.95 Finolex Cables Ltd. Industrial Products 0.88 Gujarat Gas Company Ltd Gas 0.88 ICICI Lombard General Insurance Company Ltd Finance 0.86 Galaxy Surfactants Ltd Chemicals 0.82 APL Apollo Tubes Limited Ferrous Metals 0.76 Persistent Systems Limited Software 0.74 Edelweiss Financial Services Ltd Finance 0.73 Mahindra Lifespace Developers Ltd Construction 0.69 Future Retail Ltd. Retailing 0.63 Kajaria Ceramics Ltd. Construction 0.63 HDFC Standard Life Insurance Company Ltd Finance 0.62 P I INDUSTRIES LTD Pesticides 0.61 Bharti Airtel Ltd. Telecom - Services 0.56 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.55 JMC Projects (India) Ltd Construction 0.49 Jubilant Foodworks Limited Consumer Non Durables 0.42 Future Supply Chain Solutions Ltd Transportation 0.41 Kirloskar Oil Engines Ltd. Industrial Products 0.39 Varroc Engineering Ltd. Auto Ancillaries 0.29 Zee Entertainment Enterprises Ltd Media and Entertainment 0.21 Equity & Equity Related - Total Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions LIC Housing Finance Ltd. CRISIL AAA 0.03 Corporate Debt/Financial Institutions - Total 0.03 Public Sector Undertakings United Bank Of India CRISIL AA National Bank for Agriculture & Rural Development CRISIL AAA 3.33 U P Power Corporation Ltd (Guaranteed By UP State Government) CRISIL A+(SO) 2.52 Punjab & Sind Bank ICRA A Vijaya Bank ICRA AA Syndicate Bank CARE AA Public Sector Undertakings - Total Government Dated Securities 7.37% Central Government SOV % State Government SOV % State Government SOV % State Government SOV 0.01 Government Dated Securities - Total 0.46 TERM DEPOSITS HDFC Bank Ltd Term Deposits - Total 0.26 Collateral Borrowing & Lending obligation 5.96 Net Current / (Liabilities) Note: Term Deposit as provided above is towards margin for derivatives transactions ^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 4.95% of the net assets. Monthly SIP of ( `) Total amount invested ( `) Total Value as on Sep 28, 2018( `) Returns (%) NIFTY 50 Hybrid Composite Debt 70:30 Index ( ` )# NIFTY 50 Hybrid Composite Debt 70:30 Index Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) SECTOR ALLOCATION (%) Banks Debentures and Bonds Finance CBLO & Term Deposits & Rev.Repo Auto Software 5.31 SYSTEMATIC INVESTMENT PLAN (SIP) Cement Consumer Non Durables Petroleum Products Chemicals REST Systematic Investment Plan (SIP) If you had invested `10,000 every month Since Inception 10 years 7 years 5 years 3 years 1 year 22,70,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 97,97,103 20,40,769 11,89,423 7,32,671 3,90,379 1,14, NA 21,46,514 12,62,416 7,84,235 4,25,525 1,23,688 NA ,08,28,257 23,03,563 13,36,010 8,14,724 4,42,725 1,24, 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. # ; ^ Additional **Actual TER (Direct 1.01%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. 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 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 Equity Hybrid (Erstwhile Kotak Balance) NAV as on September 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option) ` (Direct Growth Option) *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no With Effect from 25th May 2018, the is changed to Nfty 50 Hybrid Composite Debt 70:30 Index TRI 7 22

25 KOTAK EQUITY SAVINGS FUND An open-ended scheme investing in equity, arbitrage and debt Maturity Short Medium Long Volatility Medium Investment style Value Blend Growth Size Large Mid Small Fund Manager: A The investment objective of the scheme is to generate capital appreciation and income by predominantly investing in arbitrage opportunities in the cash and derivatives segment of the equity market, and enhance returns with a moderate exposure in equity & equity related instruments. There is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend... Reinvestment & Growth (applicable for all plans) Dividend Frequency Monthly (12th of every month) Quarterly (20th of March, June, September and December of every year) Ratios Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Mr. Deepak Gupta & Mr. Abhishek Bisen* `2, crs `2, crs : 75% of Nifty 50 Arbitrage index and 25% in Nifty 50 Allotment date: October 13, 2014 Folio count: 18,381 Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in... multiples of `1 for purchase and for `0.01 for switches Ideal Investments Horizon: 3 years & above Entry 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. Regular: 2.23%; Direct: 1.74% % % Investors understand that their principal will be at moderately high risk 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 * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. % to Net Derivatives Equity & Equity related Non-Hedged Tata Consultancy Services Ltd. Software 2.62 Reliance Industries Ltd. Petroleum Products 2.02 HDFC Bank Ltd. Banks 1.80 HDFC Ltd. Finance 1.80 Hindustan Unilever Ltd. Consumer Non Durables 1.38 Bharat Financial Inclusion Limited Finance 1.28 Bajaj Finance Limited Finance 1.16 Infosys Ltd. Software 1.15 CNX NIFTY-OCT Maruti Suzuki India Limited Auto 0.97 Mahindra & Mahindra Ltd. Auto 0.88 ITC Ltd. Consumer Non Durables 0.79 Tata Steel Limited. Ferrous Metals 0.73 Tech Mahindra Ltd. Software 0.73 Titan Company Ltd. Consumer Durables 0.70 ACC Ltd. Cement 0.67 Asian Paints Ltd. Consumer Non Durables 0.62 Bharti Airtel Ltd. Telecom - Services 0.58 Biocon Ltd. Pharmaceuticals 0.57 Motherson Sumi Systems Ltd. Auto Ancillaries 0.53 Britannia Industries Ltd. Consumer Non Durables 0.45 Larsen And Toubro Ltd. Construction Project 0.44 JSW Steel Ltd. Ferrous Metals 0.43 Jindal Steel & Power Ltd. Ferrous Metals 0.37 Dr Reddys Laboratories Ltd Pharmaceuticals 0.36 GAIL (India) Ltd. Gas 0.35 Varun Beverages Ltd Consumer Non Durables 0.32 Ircon International Ltd Construction 0.31 Zee Entertainment Enterprises Ltd Media and Entertainment 0.30 Voltas Ltd. Construction Project 0.28 Edelweiss Financial Services Ltd Finance 0.27 Petronet LNG Ltd. Gas 0.27 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.26 Shriram Transport Finance Co Ltd. Finance 0.25 Indraprastha Gas Ltd. Gas 0.24 Bharat Forge Ltd. Industrial Products 0.23 Eris Lifesciences Ltd Pharmaceuticals 0.22 Jubilant Foodworks Limited Consumer Non Durables 0.19 Axis Bank Ltd Banks 0.18 Laurus Labs Ltd Pharmaceuticals 0.14 Lupin Ltd. Pharmaceuticals 0.12 The Ramco Cements Ltd Cement 0.12 Bajaj Finserv Ltd. Finance 0.11 United Spirits Ltd. Consumer Non Durables 0.11 Godfrey Phillips India Ltd. Consumer Non Durables 0.10 HCL Technologies Ltd. Software 0.10 Bharat Earth Movers Ltd. Industrial Capital Goods 0.09 Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.09 Sun TV Network Ltd. Media and Entertainment 0.09 AU Small Finance Bank Ltd. Banks 0.08 Eicher Motors Ltd Auto 0.08 Prataap Snacks Ltd Consumer Non Durables 0.08 Strides Pharma Science Ltd Pharmaceuticals 0.07 HDFC Asset Management Company Ltd. Finance 0.06 Godrej Agrovet Ltd Consumer Non Durables 0.05 Apollo Micro Systems Ltd Industrial Capital Goods 0.04 IndusInd Bank Ltd. Banks 0.02 Chennai Super Kings Cricket Ltd. Media and Entertainment 0.01 Solara Active Pharma Sciences Ltd. Pharmaceuticals 0.01 Non-Hedged- Total Hedged HDFC Ltd. Finance Power Finance Corporation Ltd. Finance GMR Infrastructure Ltd. Construction Project Aurobindo Pharma Ltd. Pharmaceuticals CESC Ltd. Power Piramal Enterprises Limited Pharmaceuticals Capital First Ltd Finance Jindal Steel & Power Ltd. Ferrous Metals IDFC Bank Limited Banks Karnataka Bank Ltd Banks Punjab National Bank Banks Raymond Limited Textile Products ICICI Bank Ltd. Banks Cadila Healthcare Ltd. Pharmaceuticals Adani Enterprises Ltd Trading OCL India Ltd Cement 0.61 Dalmia Bharat Ltd.-OCT Yes Bank Ltd Banks Biocon Ltd. Pharmaceuticals Tata Steel Limited. Ferrous Metals Steel Authority of India Ltd. Ferrous Metals Union Bank Of India Banks Equitas Holdings Ltd Finance Bank Of Baroda Banks Sun TV Network Ltd. Media and Entertainment Strides Pharma Science Ltd Pharmaceuticals NCC Limited Construction Project *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.45% (FBIL Overnight MIBOR rate as on 31st August 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

26 KOTAK EQUITY SAVINGS FUND An open-ended scheme investing in equity, arbitrage and debt % to Net Derivatives DLF Limited Construction Suzlon Energy Ltd. Industrial Capital Goods Indiabulls Housing Finance Ltd. Finance CG Power and Industrial Solutions Limited Industrial Capital Goods IDFC Limited Finance Zee Entertainment Enterprises Ltd Media and Entertainment Adani Power Ltd Power Tata Motors Ltd - DVR Auto Mahanagar Gas Ltd Gas Reliance Industries Ltd. Petroleum Products Century Textiles & Industries Ltd. Cement Federal Bank Ltd. Banks The South Indian Bank Ltd. Banks ICICI Prudential Life Insurance Company Ltd Finance Vedanta Ltd. Non - Ferrous Metals Marico Ltd. Consumer Non Durables National Aluminium Company Ltd Non - Ferrous Metals Ujjivan Financial Services Ltd Finance IRB Infrastructure Developers Ltd Construction Jain Irrigation Systems Ltd. Industrial Products Tata Elxsi Ltd. Software Ashok Leyland Ltd. Auto Industrial Development Bank of India Ltd. Banks Manappuram Finance Ltd Finance Wockhardt Ltd. Pharmaceuticals United Breweries Ltd. Consumer Non Durables UPL Ltd Pesticides Axis Bank Ltd Banks Divi s Laboratories Limited Pharmaceuticals Granules India Ltd. Pharmaceuticals Reliance Capital Ltd. Finance Reliance Infrastructure Ltd Power Glenmark Pharmaceuticals Ltd Pharmaceuticals Godrej Consumer Products Ltd. Consumer Non Durables Idea Cellular Ltd. Telecom - Services National Buildings Construction Corporation Limited Construction NIIT Technologies Ltd Software Torrent Pharmaceuticals Ltd. Pharmaceuticals Indian Bank Banks Bajaj Auto Ltd. Auto Canara Bank Banks Godfrey Phillips India Ltd. Consumer Non Durables LIC Housing Finance Ltd. Finance TV18 Broadcast Ltd Media and Entertainment Bajaj Finance Limited Finance MindTree Ltd. Software State Bank Of India Banks Titan Company Ltd. Consumer Durables Bank of India Banks Reliance Communications Ltd. Telecom - Services Dabur India Ltd Consumer Non Durables Nestle India Ltd. Consumer Non Durables PVR Ltd Media and Entertainment ITC Ltd. Consumer Non Durables L&T Finance Holdings Ltd Finance Shriram Transport Finance Co Ltd. Finance Bharat Forge Ltd. Industrial Products Maruti Suzuki India Limited Auto Rural Electrification Corporation Ltd Finance United Spirits Ltd. Consumer Non Durables Apollo Tyres Ltd. Auto Ancillaries Eicher Motors Ltd Auto PC Jeweller Ltd Consumer Durables Petronet LNG Ltd. Gas Siemens Ltd. Industrial Capital Goods Balkrishna Industries Ltd Auto Ancillaries Ultratech Cement Ltd. Cement Bharat Electronics Ltd Industrial Capital Goods Bharti Airtel Ltd. Telecom - Services Bosch Limited Auto Ancillaries Britannia Industries Ltd. Consumer Non Durables Can Fin Homes Ltd. Finance Engineers India Ltd. Construction Project HCL Technologies Ltd. Software JSW Steel Ltd. Ferrous Metals Kajaria Ceramics Ltd. Construction Motherson Sumi Systems Ltd. Auto Ancillaries Tech Mahindra Ltd. Software Ajanta Pharma Ltd. Pharmaceuticals Bajaj Finserv Ltd. Finance Bata India Ltd. Consumer Durables Bharat Petroleum Corporation Ltd. Petroleum Products Hindustan Construction Co.Ltd Construction Project Hindustan Unilever Ltd. Consumer Non Durables Indian Oil Corporation Ltd Petroleum Products Jubilant Foodworks Limited Consumer Non Durables Kaveri Seed Company Ltd. Consumer Non Durables KPIT Technologies LImited Software Mahindra & Mahindra Financial Services Ltd. Finance Pidilite Industries Ltd. Chemicals

27 KOTAK EQUITY SAVINGS FUND An open-ended scheme investing in equity, arbitrage and debt % to Net Derivatives Sun Pharmaceuticals Industries Ltd. Pharmaceuticals Bharti Infratel Ltd. Telecom - Equipment & Accessories Container Corporation of India Ltd. Transportation Grasim Industries Ltd. Cement India Cements Ltd. Cement NMDC Ltd. Minerals/Mining Oil India Limited Oil SRF Ltd. Textile Products Syndicate Bank Banks Tata Motors Ltd. Auto Bharat Financial Inclusion Limited Finance Escorts Ltd. Auto Exide Industries Ltd Auto Ancillaries Gujarat State Fertilizers & Chemicals Ltd. Fertilisers Havells India Ltd. Consumer Durables Hindustan Petroleum Corporation Ltd Petroleum Products Oil & Natural Gas Corporation Ltd. Oil Tata Chemicals Ltd. Chemicals Tata Communications Ltd Telecom - Services Tata Power Co. Ltd. Power Hedged - Total Equity & Equity Related - Total % Vedanta Reedemable Preference Shares Non - Ferrous Metals 0.69 Preference Shares - Total 0.69 Mutual Fund Units Kotak Mahindra Liquid Direct Plan Growth Mutual Fund Units 5.76 Mutual Fund Units - Total 5.76 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Kotak Mahindra Prime Ltd. CRISIL AAA 8.56 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 2.16 AXIS Bank Ltd. CRISIL AA Corporate Debt/Financial Institutions - Total Government Dated Securities 8.53% State Government SOV 0.22 Government Dated Securities - Total 0.22 TERM DEPOSITS HDFC Bank Ltd AXIS Bank Ltd IDFC Bank Limited 1.57 Term Deposits - Total Collateral Borrowing & Lending obligation 1.54 Net Current /(Liabilities) 3.94 Note: # Term Deposit as provided above is towards margin for derivatives transactions Note: 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. SECTOR ALLOCATION (%) Debentures and Bonds CBLO & Term Deposits & Rev.Repo Mutual Fund Units Finance Software Consumer Non Durables Banks Petroleum Products Auto Pharmaceuticals REST Monthly SIP of ( `) Total amount invested ( `) Total Value as on Sep 28, 2018( `) Returns (%) 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 ( `)# 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month Since Inception 3 years 1 year 4,80,000 3,60,000 1,20,000 5,61,845 4,05,836 1,22, ,51,718 4,00,951 1,23, ,06,332 4,42,725 1,24, **Actual TER (Regular 2.20% and Direct 1.70%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. Inception : - October 13, 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. # ; ^ Additional 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 Index instead of Price Return Variant (PRI). Kotak Equity Savings Fund NAV as on September 28, 2018: ` (Growth Option), ` (Monthly Dividend Option), ` (Quarterly Dividend Option), ` (Direct Growth Option), ` (Direct Monthly Dividend Option), ` (Direct Quarterly Dividend Option) 25

28 KOTAK DEBT HYBRID (Erstwhile Kotak MIP) An open-ended hybrid scheme investing predominantly in debt instruments Investment style Short Medium Long Volatility Med Fund Manager: A Mr. Devender Singhal & Mr. Abhishek Bisen* ` crs ` crs : CRISIL Hybrid Conservative Index Allotment date: December 02, 2003 Folio count: 5,950 The investment objective of the scheme is to enhance returns over a portfolio of debt instruments with a moderate exposure in equity and equity related instruments. By investing in debt securities, the scheme will aim at generating regular returns, while enhancement of return is intended through investing in equity and equity related securities. The scheme may also use various derivative and hedging products from time to time, in the manner permitted by SEBI. There is no assurance that the investment objective of the schemes will be realised. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend... Reinvestment & Growth (applicable for all plans) Dividend Frequency Monthly (12th of every Month) Quarterly (20th of Mar/Jun/Sep/Dec) Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: (i) Dividend Reinvestment & Growth and Dividend Payout (Quarterly) - `5000 & above (ii) Dividend Payout (Monthly) - `50,000 & above Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon - 1 year & above Entry 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. Regular: 2.30%; Direct: 1.25% 5.49% 1.37 yrs 7.24% Equity & Equity related ITC Ltd. Consumer Non Durables 2.49 HDFC Ltd. Finance 1.28 Bata India Ltd. Consumer Durables 1.20 Mahindra & Mahindra Ltd. Auto 1.12 Sun TV Network Ltd. Media and Entertainment 1.02 HDFC Bank Ltd. Banks 1.00 Tata Motors Ltd. Auto 0.98 ICICI Bank Ltd. Banks 0.95 Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.81 Axis Bank Ltd Banks 0.77 State Bank Of India Banks 0.77 Emami Ltd. Consumer Non Durables 0.74 Infosys Ltd. Software 0.74 Godfrey Phillips India Ltd. Consumer Non Durables 0.63 Motherson Sumi Systems Ltd. Auto Ancillaries 0.60 City Union Bank Ltd. Banks 0.59 CESC Ltd. Power 0.55 RBL Bank Ltd Banks 0.53 Ircon International Ltd Construction Project 0.52 Prataap Snacks Ltd Consumer Non Durables 0.51 Titan Company Ltd. Consumer Durables 0.51 Bharat Forge Ltd. Industrial Products 0.50 Reliance Industries Ltd. Petroleum Products 0.50 Tech Mahindra Ltd. Software 0.50 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.48 Hero MotoCorp Ltd. Auto 0.46 Saregama India Ltd. Media and Entertainment 0.43 Bharat Earth Movers Ltd. Industrial Capital Goods 0.41 Jammu and Kashmir Bank Ltd. Banks 0.40 GP Petroleums Limited Petroleum Products 0.38 Solara Active Pharma Sciences Ltd. Pharmaceuticals 0.37 Heritage Foods Ltd Consumer Non Durables 0.36 The Ramco Cements Ltd Cement 0.34 Huhtamaki PPL Ltd Industrial Products 0.32 JMC Projects (India) Ltd Construction 0.26 GMR Infrastructure Ltd. Construction Project 0.25 OCL India Ltd Cement 0.24 Apollo Micro Systems Ltd Industrial Capital Goods 0.22 Equity & Equity Related - Total % Vedanta Reedemable Preference Shares Non - Ferrous Metals 1.72 Preference Shares - Total 1.72 ALLOCATION (%) Option ITC Ltd Put Option - October Option Total 0.01 Debt Instruments Debentures and Bonds Corporate Debt/ Financial Institutions Hindalco Industries Ltd. CRISIL AA 0.24 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 0.03 Corporate Debt/Financial Institutions - Total 0.27 Public Sector Undertakings Punjab & Sind Bank ICRA A National Bank for Agriculture & Rural Development CRISIL AAA 8.15 Small Industries Development Bank Of India CARE AAA 6.61 United Bank Of India CRISIL AA Vijaya Bank ICRA AA U P Power Corporation Ltd (Guaranteed By UP State Government) FITCH IND AA(SO) 3.50 U P Power Corporation Ltd (Guaranteed By UP State Government) CRISIL A+(SO) 2.86 Syndicate Bank CARE AA Public Sector Undertakings - Total Government Dated Securities 6.84% Central Government SOV % State Government SOV 1.64 Government Dated Securities - Total 5.79 TERM DEPOSITS HDFC Bank Ltd Term Deposits - Total 0.28 Collateral Borrowing & Lending obligation Net Current / (Liabilities) 1.73 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 1.85 years. (^) Fully or Party blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 15.62% of the net assets. Kotak Debt Hybrid (Formerly Known As Kotak MIP) NAV as on September 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Monthly Dividend), ` (Direct Monthly Dividend), ` (Quarterly Dividend), ` (Direct Quarterly Dividend) Debentures and Bonds Equities CBLO & Term Deposits & Rev.Repo Government Dated Securities RATING PROFILE (%) Equities CBLO & Term Deposits & Rev.Repo AAA, IND AAA, SOV AA, IND AA(SO), AA- A+, A+(SO) Net Current Derivatives Investors understand that their principal will be at moderate risk 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 doubt about whether the product is suitable for them. **Actual TER (Direct 1.17%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. *For Fund Manager experience, please refer page ## Risk rate assumed to be 6.60% (FBIL Overnight MIBOR rate as on 28th September 2018). **Total Expense Ratio includes applicable B30 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no With Effect from 25th May 2018, the is changed to Crisil Hybrid Conservative Index TRI. 26

29 KOTAK MAHINDRA LIQUID SCHEME An open-ended liquid scheme Maturity Short Medium Long Volatility Med Fund Manager: A The investment objective of the is to provide reasonable returns and high level of liquidity by investing in debt instruments such as bonds, debentures & Government Securities; and money market instruments such as treasury bills, commercial paper, certificate of deposit, including repos in permitted securities of different maturities, so as to spread the risk across different kinds of issuers in the debt markets. The may invest in call money/term money market in terms of RBI guidelines in this respect. Subject to the maximum amount permitted from time to time, the may invest in offshore securities in the manner allowed by SEBI / RBI, provided such investments are in conformity with the investment objective of the and the prevailing guidelines and Regulations. To reduce the risk of the portfolio, the may also use various derivative and hedging products from time to time, in the manner permitted by SEBI. There is no assurance that the investment objective of the s will be realised. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Daily, Weekly (Every Monday) (applicable for all plans) Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 1-15 days Entry Load: Nil. (applicable for all plans) Exit Load: Nil. (applicable for all plans) Regular: 0.20%; Direct: 0.15% Mr. Deepak Agrawal* `27, crs `27, crs : Nifty Liquid Index Allotment date: November 4, 2003 Folio count: 22, % 0.07yrs 7.22% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Torrent Pharmaceuticals Ltd. FITCH IND A Corporate Debt/Financial Institutions - Total 1.83 Public Sector Undertakings Power Finance Corporation Ltd. CRISIL AAA 1.73 Public Sector Undertakings - Total 1.73 Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions HDFC Ltd. CRISIL A Reliance Jio Infocomm Ltd. CRISIL A LIC Housing Finance Ltd. CRISIL A AXIS Bank Ltd. ICRA A Aditya Birla Finance Ltd. ICRA A Tata Steel Ltd. ICRA A AXIS Bank Ltd. CRISIL A IDFC Bank Limited CRISIL A Indiabulls Housing Finance Ltd. CRISIL A L & T Finance Ltd. ICRA A Tata Power Company Ltd. CRISIL A Nabha Power Ltd. ( Backed by Letter of Comfort from L&T ) CRISIL A Shriram City Union Finance Ltd. ICRA A Chambal Fertilisers & Chemicals Ltd. CRISIL A Hero FinCorp Ltd. CRISIL A IndusInd Bank Ltd. CRISIL A Vedanta Ltd. CRISIL A Piramal Capital & Housing Finance Ltd. CRISIL A Manappuram Finance Ltd. CRISIL A ECL Finance Ltd. CRISIL A Tata Motors Finance Ltd. ICRA A Tata Motors Finance Solutions Ltd. ICRA A Tata Motors Ltd. ICRA A AXIS Finance Ltd. CRISIL A Azim premji Trust ICRA A HPCL Mittal Pipelines Ltd. FITCH IND A Adani Transmission Ltd CRISIL A Bharti Airtel Ltd. CRISIL A Bajaj Finance Ltd. CRISIL A Bandhan Bank Limited CRISIL A HDB Financial Services Ltd. CRISIL A Tata Capital Housing Finance Ltd. CRISIL A Corporate Debt/Financial Institutions - Total Public Sector Undertakings National Bank for Agriculture & Rural Development ICRA A PNB Housing Finance Ltd. CRISIL A National Thermal Power Corporation Ltd. CRISIL A National Bank for Agriculture & Rural Development CRISIL A Public Sector Undertakings - Total Reverse Repo Treasury Bills 91 Days Treasury Bill 15/11/2018 SOV Days Treasury ALLOCATION (%) Commercial Paper (CP)/Certi cate of Deposits (CD) Bill 13/12/2018 SOV 1.14 Treasury Bills - Total 5.24 Collateral Borrowing & Lending obligation 4.01 Net Current / (Liabilities) Treasury Bills Debentures and Bonds Net Current CBLO & Term Deposits & Rev.Repo RATING PROFILE (%) Investors understand that their principal will be at low risk 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 A1+, AAA, IND A1+, SOV CBLO & Term Deposits & Rev.Repo Net Current Note: Aggregate value of investments by other schemes of Kotak Mahindra Mutual Fund as on 30 June 2018 is Rs.57, Lacs Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.07 years. Kotak Liquid Fund NAV as on September 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Weekly Dividend), ` (Direct Weekly Dividend), ` (Daily Dividend), ` (Direct Daily Dividend) With Effect from 1st June 2018, the is changed to Nifty Liquid Index from Nifty Liquid Fund Index. The above performance is benchmarked to Nifty Liquid fund index *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no

30 KOTAK BOND SHORT TERM PLAN An open-ended short term debt scheme investing in instruments such that the macaulay duration of the portfolio is between 1 year and 3 years Maturity Short Medium Long Volatility Med Fund Manager: A The investment objective of the is to provide reasonable returns and... reasonably high levels of liquidity by investing in debt instruments such as bonds, debentures and Government securities; and money market instruments such as treasury bills, commercial papers, certificates of deposit, including repos in permitted securities of different maturities, so as to spread the risk across different kinds of issuers in the debt markets. There is no assurance that the investment objective of the will be realised. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend... Reinvestment & Growth (applicable for all plans) Dividend Frequency Monthly (12th of every Month), Half Yearly (20th of Mar/Sept) and normal (as decided by Trustees) Ratios Standard Deviation Modified Duration Portfolio Yield Mr. Deepak Agrawal* `8, crs `7, crs : NIFTY Short Duration Debt Index Allotment date: May 2, 2002 Folio count: 3,040 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: (i) Dividend Reinvestment & Growth - `5000 & above (ii) Dividend Payout (Monthly Dividend) - `50,000 & above Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 6 months & above Entry Load: Nil. (applicable for all plans) Exit Load: Nil. Regular:1.13%; Direct: 0.28% 1.22% 1.37 yrs 8.86% Debt Instruments Debentures and Bonds Corporate Debt/ Financial Institutions Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) ICRA AAA 8.04 LIC Housing Finance Ltd. CRISIL AAA 6.28 HDFC Ltd. CRISIL AAA 5.03 Kotak Mahindra Prime Ltd. CRISIL AAA 4.61 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 4.59 Indiabulls Housing Finance Ltd. CARE AAA 3.96 Reliance Jio Infocomm Ltd. CRISIL AAA 3.24 Rent A Device Trust ( ) ICRA AAA(SO) 3.11 Gruh Finance Ltd. CRISIL AAA 2.99 Tata Sons Ltd. CRISIL AAA 2.75 Bajaj Finance Ltd. CRISIL AAA 2.03 Reliance Industries Ltd. CRISIL AAA 1.95 Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) CRISIL AAA 1.34 Fullerton India Credit Co. Ltd. CARE AAA 1.26 Reliance Jio Infocomm Ltd. ( Irrevocably and unconditionally guaranteed by Reliance Industries ) CRISIL AAA 1.26 Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) CRISIL AAA 1.12 Kotak Mahindra Investments Ltd. CRISIL AAA 0.63 IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.36 Bajaj Finance Ltd. FITCH IND AAA 0.22 Sikka Ports & Terminals Ltd. CRISIL AAA 0.20 SP Jammu Udhampur way Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AAA 0.06 Corporate Debt/Financial Institutions - Total Public Sector Undertakings Power Finance Corporation Ltd. CRISIL AAA Small Industries Development Bank Of India CARE AAA 4.83 National Bank for Agriculture & ALLOCATION (%) Rural Development CRISIL AAA 2.83 ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 1.10 Rural Electrification Corporation Ltd. CRISIL AAA 0.99 PNB Housing Finance Ltd. CARE AAA 0.62 PNB Housing Finance Ltd. FITCH IND AAA 0.50 Rural Electrification Corporation Ltd. FITCH IND AAA 0.25 Indian Railway Finance Corporation Ltd. CRISIL AAA 0.16 Public Sector Undertakings - Total Government Dated Securities 7.37% Central Government SOV % State Government SOV % State Government SOV % State Government SOV % Central Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % Central Government SOV 0.13 Government Dated Securities - Total Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions AXIS Bank Ltd. CRISIL A HDFC Ltd. CRISIL A Indiabulls Housing Finance Ltd. CRISIL A HDFC Bank Ltd. CRISIL A Tata Capital Financial Services Limited CRISIL A Corporate Debt/ Financial Institutions - Total 9.19 Collateral Borrowing & Lending obligation 1.40 Net Current / (Liabilities) Debentures and Bonds Government Dated Securities Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current CBLO & Term Deposits & Rev.Repo RATING PROFILE (%) A1+, AAA, AAA(SO), IND AAA, SOV Net Current CBLO & Term Deposits & Rev.Repo Investors understand that their principal will be at moderately low risk Income over a medium term investment horizon Investment in debt & money market securities with portfolio Macaulay duration between 1 year & 3 years * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. (^) Fully or Party blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 17.34% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 1.59 years. Kotak Bond Short Term Plan NAV as on September 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Monthly Dividend), `10.91 (Direct Monthly Dividend), ` (Half Yearly Dividend), ` (Direct Half Yearly Dividend), ` (Direct Normal Dividend) With Effect from 1st June 2018, the is changed to Nifty Short Duration Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to NIFTY Short Duration Debt Index. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

31 KOTAK SAVINGS FUND (Erstwhile Kotak Treasury Advantage Fund) An open-ended ultra-short term debt scheme investing in instruments such that the macaulay duration of the portfolio is between 3 months and 6 months Maturity Short Medium Long Volatility Med Fund Manager: A The investment objective of the 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. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Daily, Monthly (12th of every Month) and Weekly (Every Monday) Ratios Standard Deviation Modified Duration Portfolio Yield Mr. Deepak Agrawal* `7, crs `7, crs : NIFTY Ultra Short Duration Debt Index Allotment date: August 13, 2004 Folio count: 12,626 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: (i) Dividend Reinvestment & Growth- `5000 & above (ii) Dividend Payout (Weekly) - `1,00,00,000 & above Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 1-3 months Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Regular:0.63%; Direct: 0.28% 0.45% 0.39 yrs 8.19% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Reliance Jio Infocomm Ltd. CRISIL AAA 6.01 Shriram Transport Finance Co Ltd. FITCH IND AA Rent A Device Trust ( ) ICRA AAA(SO) 2.90 Shriram Transport Finance Co Ltd. CRISIL AA Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 2.78 HDFC Ltd. CRISIL AAA 1.94 Tata Motors Finance Ltd. CARE AA LIC Housing Finance Ltd. CRISIL AAA 1.21 Tata Capital Housing Finance Ltd. ICRA AAA 1.12 ICICI Home Finance Company Limited ICRA AAA 1.01 Muthoot Finance Ltd. CRISIL AA 0.92 Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) ICRA AAA 0.70 Cholamandalam Investment and Finance Company Ltd. ICRA AA HDB Financial Services Ltd. CRISIL AAA 0.07 Corporate Debt/Financial Institutions - Total Public Sector Undertakings ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 6.30 National Bank for Agriculture & Rural Development CRISIL AAA 2.49 U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 1.13 PNB Housing Finance Ltd. CARE AAA 1.12 Bank Of Baroda CARE AA 0.91 Small Industries Development Bank Of India CARE AAA 0.70 Union Bank of India CRISIL AA Rural Electrification Corporation Ltd. CRISIL AAA 0.38 Bank Of Baroda CARE AA Export-Import Bank of India CRISIL AAA 0.16 Power Finance Corporation Ltd. CRISIL AAA 0.13 Indian Railway Finance Corporation Ltd. CRISIL AAA 0.08 Power Grid Corporation of India Ltd. CRISIL AAA 0.07 Public Sector Undertakings - Total Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions Larsen and Toubro Ltd. CRISIL A AXIS Bank Ltd. CRISIL A Vedanta Ltd. CRISIL A HDFC Bank Ltd. CRISIL A LIC Housing Finance Ltd. CRISIL A HDFC Ltd. CRISIL A Indiabulls Housing Finance Ltd. CRISIL A Piramal Capital & Housing Finance Ltd. CRISIL A Piramal Enterprises Ltd. CRISIL A Reliance Industries Ltd. CRISIL A Tata Capital Financial Services Limited CRISIL A IDFC Bank Limited CRISIL A Corporate Debt/ Financial Institutions - Total Public Sector Undertakings National Bank for Agriculture & Rural Development CRISIL A PNB Housing Finance Ltd. CRISIL A Public Sector Undertakings - Total 4.45 Reverse Repo 4.92 Collateral Borrowing & Lending obligation 1.77 Net Current / (Liabilities) 4.81 ALLOCATION (%) Commercial Paper (CP)/Certi cate of Deposits (CD) CBLO & Term Deposits & Rev.Repo Debentures and Bonds Net Current RATING PROFILE (%) Investors understand that their principal will be at low low risk Income over a short term investment horizon Investment in debt & money market securities with portfolio Macaulay duration between 3 months & 6 months * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. A1+, AAA, AAA(SO), IND AAA CBLO & Term Deposits & Rev.Repo AA+, IND AA+, AA, IND AA(SO) Net Current ^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 17.55% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.42 years. Kotak Savings Fund (Erstwhile Kotak Treasury Advantage Fund) NAV as on September 28, 2018: ` (Daily Dividend Option), ` (Daily Dividend - Direct), ` (Growth Option), ` (Monthly Dividend Option), ` (Weekly Dividend Option), ` (Monthly Dividend - Direct), ` (Weekly Dividend - Direct), ` (Growth - Direct Option) With Effect from 1st June 2018, the is changed to Nifty Ultra-short term Index from Crisil Liquid Fund. The above performance is benchmarked to NIFTY Ultra Short Duration Debt Index *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

32 KOTAK MONEY MARKET SCHEME (Erstwhile Kotak Floater Short Term ) An open-ended debt scheme investing in money market instruments Maturity Short Medium Long Volatility Med Fund Manager: A The investment objective of the is to generate returns by investing in money market instruments having maturity upto 1 year. There is no assurance that the investment objective of the will be realised. Available Plans/Options A) Regular Plan B) Direct Plan 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 Standard Deviation Modified Duration Portfolio Yield Mr. Deepak Agrawal* `5, crs `4, crs : Nifty Money Market Index Allotment date: July 14, 2003 Folio count: 13,785 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 Under growth, weekly dividend and monthly dividend option & `1,00,000 under Daily Dividend Reinvestment option, Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 1-15 days Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Regular: 0.21%; Direct: 0.16% 0.21% 0.18 yrs 7.79% Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions Muthoot Finance Ltd. CRISIL A HDFC Ltd. CRISIL A Suraksha Realty Ltd. ( Secured by Equity shares of Sun Pharmaceuticals Industries Ltd ) CARE A1+(SO) Larsen and Toubro Ltd. CRISIL A YES Bank Ltd. CRISIL A Bharti Airtel Ltd. CRISIL A Bharti Telecom Ltd. CRISIL A Can Fin Homes Ltd. ICRA A L & T Finance Ltd. ICRA A Shriram City Union Finance Ltd. ICRA A Vedanta Ltd. CRISIL A Reliance Industries Ltd. CRISIL A Endurance Technologies Ltd CRISIL A JM Financial Asset Reconstruction Co. Pvt. Ltd ICRA A Green Infra Wind Energy Ltd. ICRA A ECL Finance Ltd. CRISIL A Aditya Birla Finance Ltd. ICRA A Piramal Capital & Housing Finance Ltd. CRISIL A Sundaram Finance Ltd. CRISIL A Shapoorji Pallonji Finance Private Limited CRISIL A Standard Chartered Investment & Loan India Ltd. CRISIL A AXIS Bank Ltd. CRISIL A Bahadur Chand Investments Private Limited CRISIL A IDFC Bank Limited CRISIL A Tata Capital Financial Services Limited CRISIL A Corporate Debt/Financial Institutions - Total Public Sector Undertakings PNB Housing Finance Ltd. CRISIL A Public Sector ALLOCATION (%) RATING PROFILE (%) Undertakings - Total 1.60 Reverse Repo Collateral Borrowing & Lending obligation 4.75 Net Current / (Liabilities) Commercial Paper (CP)/Certi cate of Deposits (CD) CBLO & Term Deposits & Rev.Repo Net Current A1+, A1+(SO) CBLO & Term Deposits & Rev.Repo Net Current Investors understand that their principal will be at low low risk Income over a short term investment horizon Investment in money market securities * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Note : Aggregate value of investments by other schemes of Kotak Mahindra Mutual Fund as on 30 April 2018 is Rs.57, lacs Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.18 years. Kotak Money Market (Erstwhile Kotak Floater Short Term ) NAV as on September 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Weekly Dividend), ` (Direct Weekly Dividend), ` (Monthly Dividend), ` (Direct Monthly Dividend), ` (Daily Dividend), ` (Direct Daily Dividend) With Effect from 1st June 2018, the is changed to Nifty Money Market Index from Crisil Liquid Fund. The above performance is benchmarked to Nifty Money Market Index *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

33 KOTAK DURATION FUND An open-ended low duration debt scheme investing in instruments Maturity Short Medium Long Volatility Med Fund Manager: A The primary objective of the is to generate income through investment primarily in low duration debt & money market securities. There is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plans/Options 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 Standard Deviation Modified Duration Portfolio Yield Mr. Deepak Agrawal* `5, crs `5, crs : NIFTY Duration Debt Index Allotment date: March 6, 2008 Folio count: 38,749 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 for purchase and for `0.01 for switches. Ideal Investment Horizon: 1-3 months Entry Load: Nil. Exit Load: Nil. Any exit load charged (net off Service Tax, if any) shall be credited back to the ; Regular:1.03%; Direct: 0.28% 0.78% 0.75 yrs 9.62% Debt Instruments Debentures and Bonds Corporate Debt/ Financial Institutions S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) CARE AA+(SO) 6.62 Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 5.35 Manappuram Finance Ltd. ICRA AA Piramal Enterprises Ltd. ICRA AA 4.46 Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) ICRA AA 3.98 Rent A Device Trust ( ) ICRA AAA(SO) 3.69 Dewan Housing Finance Corporation Ltd. CARE AAA 3.60 Piramal Capital & Housing Finance Ltd. ICRA AA Edelweiss Housing Finance Limited ICRA AA 2.82 Nuvoco Vistas Corporation Ltd. ( 100 subsidiary of Nirma Ltd.) CRISIL AA 2.45 Muthoot Finance Ltd. CRISIL AA 2.37 Avendus Finance Pvt Ltd. CRISIL A Indiabulls Housing Finance Ltd. CARE AAA 1.89 Karelides Traders Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by a wholly owned subsidiary of Piramal Enterprises Ltd ) ICRA AA-(SO) 1.80 Sahyadri Agencies Ltd ( Secured by Equity shares of Jyothy Laboratories Ltd. ) BRICKWORK BWR A(SO) 1.50 Bharti Telecom Ltd. CRISIL AA Jyothy Fbricare Services Ltd. ( Guaranteed By Jyothi Laboratories Ltd ) CARE AA(SO) 1.27 Fullerton India Credit Co. Ltd. CARE AAA 1.00 IIFL Home Finance Ltd. ICRA AA 0.80 ECL Finance Ltd. ICRA AA 0.60 Grand View Estates Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AA(SO) 0.50 Dalmia Cement (Bharat) Ltd ICRA AA 0.48 Hinduja Leyland Finance Ltd. CARE AA LIC Housing Finance Ltd. CRISIL AAA 0.33 HDFC Ltd. CRISIL AAA 0.30 Shriram Transport Finance Co Ltd. CRISIL AA Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions) BRICKWORK BWR AA-(SO) 0.20 ALLOCATION (%) Sundaram BNP Paribas Home Finance Ltd CARE AA Reliance Jio Infocomm Ltd. CRISIL AAA 0.12 East-North Interconnection Company Limited ( Operational power transmission project ) CRISIL AAA(SO) 0.10 HDB Financial Services Ltd. CRISIL AAA 0.10 Corporate Debt/ Financial Institutions - Total Public Sector Undertakings U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 7.83 Bank Of Baroda CARE AA 7.12 Andhra Bank CRISIL AA U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(SO) 1.84 PNB Housing Finance Ltd. CARE AAA 0.64 Bank Of Baroda CARE AA Konkan Railway Corporation Ltd. ICRA AAA 0.20 Andhra Bank CARE A Punjab National Bank CARE AA Union Bank of India CARE AA Small Industries Development Bank Of India CARE AAA 0.04 Public Sector Undertakings - Total Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions Suraksha Realty Ltd. ( Secured by Equity shares of Sun Pharmaceuticals Industries Ltd ) CARE A1+(SO) Utkarsh Small Finance Bank Ltd. ICRA A HDFC Bank Ltd. CRISIL A Shriram City Union Finance Ltd. ICRA A Muthoot Capital Services Ltd. CRISIL A L & T Finance Ltd. ICRA A Bahadur Chand Investments Private Limited CRISIL A HDFC Ltd. CRISIL A Indiabulls Housing Finance Ltd. CRISIL A Corporate Debt/ Financial Institutions - Total Collateral Borrowing & Lending obligation 0.22 Net Current / (Liabilities) Debentures and Bonds Net Current Commercial Paper (CP)/Certi cate of Deposits (CD) CBLO & Term Deposits & Rev.Repo RATING PROFILE (%) A1, AA+, AA+(SO), AA, AA(SO), IND AA(SO), AA-, AA-(SO), BWR AA-(SO) A1+, A1+(SO), AAA, AAA(SO) A+, A+(SO), BWR A(SO) Net Current CBLO & Term Deposits & Rev.Repo Investors understand that their principal will be at moderate risk Regular Income over short term Income by focussing on low duration securities with portfolio Macaulay duration between 6 months and 12 months * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Notes: ^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 16.52% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.87 years Kotak Duration Fund NAV as on September 28, 2018: ` (Regular Plan-Growth Option), ` (Regular Plan-Weekly Dividend), ` (Regular Plan-Monthly Dividend), ` (Direct Plan- Growth Option), ` (Direct Plan- Weekly Dividend), ` (Direct Plan- Monthly Dividend) With Effect from 1st June 2018, the is changed to Nifty Duration Index from Crisil Liquid Fund. The above performance is benchmarked to NIFTY Duration Debt Index. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

34 Equity Funds Ready Reckoner Name Investment Theme Product Positioning Key Features Fund Manager Monthly AAUM Mcap (%) Overweight Underweight Beta (Rs. Crs) Sharpe Standard Deviation (%) 5 years Alpha (%) Kotak Bluechip Fund (Erstwhile Kotak 50) Large cap Invest with industry leaders a. Favours industry leaders in cost, innovation, brand, competence, etc. with a proven execution track record across cycles b. conviction and long term calls taken Mr. Harish Krishnan Nifty 50 TRI 1, Automobile 2. Industrial Manufacturing 3. Media & Entertainment 1. Financial Services 2. Energy 3. Metals Kotak India EQ Contra Fund (Erstwhile Kotak Classic Equity) Contra Long term wealth creators a. Focus on sustainable large cap stories which can withstand market shocks b. These are companies with pricing power for their competitive advantage or entry barriers Mr. Deepak Gupta Nifty 100 TRI Consumer Goods 2. Information Technology 3. Cement & Cement Products 1. Financial Services 2. Energy 3. Pharma Kotak Equity Opportunities Fund (Erstwhile Kotak Opportunities) Large and Midcap Spotting the hidden gems Identifies investment opportunities across market capitalisation and sectors Mr. Harsha Upadhyaya Nifty 200 TRI 2, Industrial Manufacturing 2. Cement & Cement Products 3. Fertilisers & Pesticides 1. Automobile 2. Financial Services 3. Metals Kotak Standard Multicap Fund (Kotak Select Focus Fund) Multi Cap Focus on few selected sectors a. Invests in a few sectors as the various sectors of the economy tend to perform differently at different points of time b. Flexibility to move across market caps depending on their attractiveness during the economic phase Mr. Harsha Upadhyaya Nifty 200 TRI 21, Financial Services 2. Cement & Cement Products 3. Construction 1. Consumer Goods 2. Information technology 3. Metals Kotak Tax Saver ELSS Tax advantage with potential equity growth a. Portfolio is diversified across sectors and market capitalization segments b. Offers dual benefits of growth and tax savings Mr. Harsha Upadhyaya Nifty 500 TRI Cement & Cement Products 2. Industrial Manufacturing 3. Construction 1. Automobiles 2. Financial Services 3. Consumer Goods Kotak Emerging Equity Mid Cap Emerging leaders a. Stands for winning investment ideas across the mid & small cap range offering decent growth trajectory over the medium to long term horizon b. Buy and hold strategy c. Riskier than a large cap fund but offers faster growth rate since it has a smaller base d. 0%-35% allocation to large cap or small cap opportunities as tactical plays Mr. Pankaj Tibrewal Nifty Midcap 100 3, Industrial Manufacturing 2. Chemicals 3. Fertilisers & Pesticides 1. Information Technology 2. Energy 3. Financial Services Kotak Small Cap Fund (Erstwhile Kotak Mid Cap Fund) Small Cap Spot them young, watch them grow a. Identifies the hidden growth potential of small cap sized companies b. Portfolio exhibits higher volatility than large caps and Midcaps however tends to have a higher return potential in the long run c. Buy and hold strategy Mr. Pankaj Tibrewal Nifty Smallcap 50 TRI Consumer Goods 2. Industrial Manufacturing 3. Chemicals 1. Information Technology 2. Financial Services 3. Fertilisers & Pesticides Kotak Infrastructure & Economic Reform Fund Thematic: Infrastructure True to label 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 Mr. Harish Krishnan India Infrastructure Index (Customised Index by IISL) N/A N/A Kotak Equity Hybrid Fund (Erstwhile Kotak Balance Fund) Aggresive Hybrid Best of both worlds: equity & debt a. Equity portion: Multi cap strategy to identify outstanding companies having well managed and durable businesses with predictable earnings power b. Debt portion: Actively managed with medium to long term maturity c. er volatility than a pure equity or debt fund Mr. Pankaj Tibrewal & Mr. Abhishek Bisen Nifty 50 Hybrid Composite Debt 70:30 Index 1, N/A N/A Kotak Equity Arbitrage Fund Equity Arbitrage Arbitrage opportunities a. Discovers arbitrage opportunities by simultaneously entering transactions of long position in cash and exactly off-setting short position in futures b. Equity position is completely hedged Mr. Deepak Gupta Nifty 50 Arbitrage Index 11, N/A N/A N/A Kotak Equity Savings Fund Equity Savings Conservative portfolio with a blend of: a. Income generation - through arbitrage opportunities & debt investment. b. Growth potential - through moderate participation in equity markets c. Tax efficiency - through equity orientation Mr. Deepak Gupta & Mr. Abhishek Bisen 75% of Nifty 50 Arbitrage Index + 25% of Nifty 50 2, N/A N/A N/A NA th Details provided are as on September 28, Ratio Source: ICRA MFI Explorer. Risk rate assumed to be 6.60% Alpha = Difference between returns & 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 Index instead of Price Return Variant (PRI). for Kotak Balance - "The benchmark has changed to Nifty 50 Hybrid Composite Debt 70:30 Index" from "CRISIL Hybrid Aggressive Index * The given market cap data is on the basis of new AMFI guidelines wherein Stocks are categorised as per given AMFI list "For Tax Saver Fund : Minimum Initial Investment: 500. Additional Investment: 500 & inmultiples of 500. For all other Equity s : Minimum Initial Investment: 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. LARGECAP SMALLCAP MIDCAP DEBT + CASH

35 Name of the Equity Kotak Equity Arbitrage Fund Kotak Bluechip Kotak Small Cap Kotak Equity Opportunities Kotak India EQ Contra Kotak Tax Saver Kotak Emerging Equity Kotak Standard Multicap Kotak Equity Hybrid Fund Kotak Equity Savings Fund Kotak Infrastructure & Economic Reform Fund (formerly known as PineBridge Infrastructure & Economic Reform Fund ) Debt Kotak Money Market Kotak Savings Fund Kotak Bond Short Term Kotak Dynamic Bond Kotak Corporate Bond Fund Kotak Credit Risk Kotak Banking and PSU Debt Fund Kotak Mahindra Liquid Kotak Duration Kotak Medium Term Fund Kotak Bond Kotak Mahindra Gilt Unit 98 - Investment plan 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. 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 Long term capital growth Investment in portfolio of predominantly equity & equity related securities 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 portfolio of predominantly equity & equity related securities generally focused on a few selected sectors 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 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 Income over a short term investment horizon Investment in money market securities Income over a short term investment horizon Investment in debt & money market securities with portfolio Macaulay duration between 3 months and 6 months Income over a medium term investment horizon Investment in debt & money market securities with portfolio Macaulay duration between 1 year and 3 years Income over a medium term investment horizon Investment in debt & money market securities across duration Regular Income over short term Income by investing in fixed income securities of varying maturities and predominantly in AA+ and above rated corporate bonds Income over a medium term investment horizon Investment predominantly in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds ) Income over a short to medium term investment horizon Investment in debt & money market securities of PSUs, Banks, Public Financial Institutions, Government Securities & Municipal Bonds Income over a short term investment horizon Investment in debt & money market securities Regular Income over short term Income by focusing on low duration securities with portfolio Macaulay duration between 6 months and 12 months Income over a medium term investment horizon Investment in debt, government securities & money market instruments with portfolio Macaulay duration between 3 years and 4 years Income over a long investment horizon Investment in debt & money market securities with portfolio Macaulay duration between 4 years and 7 years Income over a long investment horizon Investments in sovereign securities issued by the Central and/or State Government(s) and / or reverse repos in such securities. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Investors understand that their principal will be at low risk Investors understand that their principal will be at risk Investors understand that their principal will be at risk Investors understand that their principal will be at moderately low risk Investors understand that their principal will be at low risk Investors understand that their principal will be at moderate risk Debt Funds Ready Reckoner YTM % Exit Load Modified Duration (years) Average Maturity (years) Key Differentiator Ideal Investment Horizon Current Portfolio Quality** Monthly Avg. AUM (Rs crores) Current Positioning Name Nil Maturity < 91 days 1-15 days 100% AAA 27, Liquid Kotak Mahindra Liquid Nil Maturity < 1 year 15 days to 3 months 100% AAA 5, Money Market Kotak Money Market (Erstwhile Kotak Floater Short Term) Nil Macaulay duration 3-6 months 1-3 Months 85.17% AAA, 12.09% AA+ 2.74% Below AA+ 7, Ultra Short Duration Kotak Savings (Erstwhile Kotak Treasury Advantage Fund) Nil Macaulay duration 6-12 months 1-3 Months 32.39% AAA 10.79% AA % Below AA+ 5, Duration Kotak Duration Nil % corporate bond exposure in AA+ & above assets 6 Months and above 100% AAA Corporate Bond Kotak Corporate Bond Nil Predominantly quality Banking & PSU assets 6 Months and above 61.41% AAA 15.01% Gilt 16.87% AA+ 6.71% Below AA+ 1, Banking and PSU Kotak Banking & PSU Debt Nil Macaulay duration 1-3 years 6 Months and above 90.09% AAA 9.91% Gilt 8, Short Duration Kotak Bond Short Term Withdrawal up to 10% of investment amt within 1 yr: Nil, > above limit of withdrawal within 1 year : 1%, After 1 year : Nil Minimum 65% in below AA+ instruments 1 Year and above 15.26% AAA 3.96% AA Below AA+ 5, Credit Risk Kotak Credit Risk (Erstwhile Kotak Income Opportunities Fund) Withdrawal up to 15% of investment amt within 18 months: Nil, > above limit of withdrawal within 18 months : 2%, After 18 months : Nil Macaulay duration 3-4 years (1-4 years when defensive) 2.5 Years and above 26.64% AAA 1.65% AA, 0.32% Gilt 71.39% Below AA+ 4, Medium Term (Accrual Strategy) Kotak Medium Term Nil Dynamic strategy - investment across duration 1 Year and above 20.53% AAA 62.68% Gilt 7.18% AA+ 9.61% Below AA Dynamic Kotak Dynamic Bond (Erstwhile Kotak Flexi Debt Fund) *Within 3 months: 0.20% After 3 months: NIL Macaulay duration 4-7 years (1-7 years when defensive) 1 Year and above 78.69% AAA, 11.14% Gilt 10.17% Below AA+ 1, Medium to Long Duration Kotak Bond (Erstwhile Kotak Mahindra Bond Unit 99) Nil Gilt Fund with Dynamic strategy, no cap on duration 1 Year and above 100% Gilt Gilt Kotak Mahindra Gilt Unit 98- Investment Plan th Details provided are as on September 28, Note: ^UST = Ultra Short Term plan, ^^STP= Short Term plan. **AAA also includes A1+,A1+(SO), AAA(SO), IND AAA, Net current, CBLO, Term Deposit and Rev repo. For Kotak Gilt Fund: Cash and Cash Equivalent is included under Gilt * The aforesaid revised exit load structure will be applicable only on a prospective basis of units purchased/sip/stp registered on or after February 22, 2018.

36 KOTAK CREDIT RISK FUND (Erstwhile Kotak Income Opportunities Fund) An open-ended debt scheme predominantly investing in aa and below rated corporate bonds (excluding AA+ rated corporate bonds) Maturity Short Medium Long Volatility Med Fund Manager: A The investment objective of the scheme is to generate income by investing in debt /and money market securities across the yield curve and predominantly in AA rated and below corporate securities. The scheme would also seek to maintain reasonable liquidity within the fund. There is no assurance that the investment objective of the s will be realised. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Weekly (Every Monday), Monthly (12th of every Month), Quarterly (20th of Mar, Jun, Sep and Dec of every Year), Annual (12th of March). Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 1 year & above Entry 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. Regular:1.92%; Direct: 1.03% Mr. Deepak Agrawal* `5, crs `5, crs : CRISIL Composite AA Short Term Bond Index Allotment date: May 11, 2010 Folio count: 23, % 1.68 yrs 10.25% Income over a medium term investment horizon Investment predominantly in in AA and below rated corporate bonds (Excluding AA+ rated corporate bonds) * 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 low risk Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Karelides Traders Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by a wholly owned subsidiary of Piramal Enterprises Ltd ) ICRA AA-(SO) 5.43 JSW Techno Projects Management Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 3.90 Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) BRICKWORK BWR A+(SO) 3.84 Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) CRISIL AA(SO) 3.84 Aasan Corporate Solutions Pvt. Ltd. ( Guaranteed by a Piramal Group Company ) ICRA AA-(SO) 3.59 Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 3.13 Muthoot Finance Ltd. CRISIL AA 2.77 Manav Investment And Trading Company Ltd. ( backed by unconditional underwriting obligation by Axis Capital ) ICRA AAA 2.38 IIFL Home Finance Ltd. ICRA AA 2.34 Nuvoco Vistas Corporation Ltd. ( 100 subsidiary of Nirma Ltd.) CRISIL AA 2.33 HPCL Mittal Energy Ltd. ICRA AA 2.26 Piramal Enterprises Ltd. ICRA AA 2.03 Visu Leasing and Finance Pvt. Ltd. CARE A 1.94 Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions) BRICKWORK BWR AA-(SO) 1.93 Nayara Energy Limited CARE AA 1.93 YES Bank Ltd. ICRA AA 1.93 S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) CARE AA+(SO) 1.85 Muthoot Fincorp Ltd. BRICKWORK BWR A Edelweiss Agri Value Chain Ltd. ( Unconditional and irrevocable guarantee from Edelweiss Financial Services Limited) CARE AA(SO) 1.64 Prestige Estates Projects Limited ICRA A Reliance Jio Infocomm Ltd. CRISIL AAA 1.22 Bharti Telecom Ltd. CRISIL AA Nirma Ltd. CRISIL AA 1.05 ECL Finance Ltd. BRICKWORK BWR AA 0.99 Altico Capital India Pvt Ltd FITCH IND AA Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) UNRATED 0.96 Future Lifestyle Fashions Ltd. CRISIL AA SBK Properties Pvt Ltd. ( Guaranteed by a Kalyani Group company ) ICRA AA Asirvad Microfinance Private Limited ( 85 subsidiary of Manappuram Finance Ltd ) CRISIL A Jana Small Finance Bank Ltd. ICRA BBB 0.67 S D Corporation Pvt. Ltd. ( Guarantee by Shapoorji Pallonji & Company Ltd ) CARE AA+(SO) 0.67 Indiabulls Housing Finance Ltd. CARE AAA 0.66 Dalmia Cement (Bharat) Ltd ICRA AA 0.65 ECL Finance Ltd. ICRA AA 0.39 Konti Infrapower & Multiventures Pvt. Ltd. ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) BRICKWORK BWR A Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions ) BRICKWORK BWR AA-(SO) 0.32 Aarish Solar Power Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Aashman Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Divyesh Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Elena Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Pratyash Renewable Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 SEI Baskara Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as 32

37 KOTAK CREDIT RISK FUND (Erstwhile Kotak Income Opportunities Fund) An open-ended debt scheme predominantly investing in AA and below rated corporate bonds (excluding AA+ rated corporate bonds) NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 SEI Enerstar Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 SEI Mihir Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Shreyas Renwable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Zuvan Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 JM Financial Credit Solutions Ltd. ICRA AA 0.27 HDFC Ltd. CRISIL AAA 0.20 Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group ) CRISIL AAA 0.19 Shriram City Union Finance Ltd. CARE AA LIC Housing Finance Ltd. CRISIL AAA 0.02 Corporate Debt/Financial Institutions - Total Public Sector Undertakings U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(SO) 8.54 Andhra Bank CARE A Punjab & Sind Bank ICRA A Syndicate Bank CARE AA Coastal Gujarat Power Ltd. ( Guaranteed by TATA Power Co. Ltd ) CARE AA(SO) 2.02 Union Bank of India CARE AA U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 1.07 Union Bank of India FITCH IND AA 0.69 Andhra Bank CRISIL AA U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA 0.48 PNB Housing Finance Ltd. FITCH IND AAA 0.32 Konkan Railway Corporation Ltd. ICRA AAA 0.10 United Bank Of India CRISIL AA Power Finance Corporation Ltd. CRISIL AAA 0.08 Bank Of Baroda CARE AA 0.06 Steel Authority of India Ltd. FITCH IND AA Public Sector Undertakings - Total Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Piramal Capital & Housing Finance Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 3.16 Collateral Borrowing & Lending obligation 0.83 Net Current /(Liabilities) 2.52 ALLOCATION (%) Debentures and Bonds Net Current Commercial Paper (CP)/Certi cate of Deposits (CD) CBLO & Term Deposits & Rev.Repo RATING PROFILE (%) AA+, AA+(SO), AA, AA(SO), BWR AA, IND AA, IND AA(SO), AA-, AA-(SO), BWR AA-(SO), IND AA- A+, A+(SO), BWR A+, BWR A+(SO), A, BWR A(SO) A1+, AAA, IND AAA Net Current Unrated CBLO & Term Deposits & Rev.Repo BBB **Actual TER (Direct 1.01%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. Notes: ^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 4.38% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 3.05 years. Kotak Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) NAV as on September 28, 2018: ` (Growth Option), `20.53 (Direct Growth Option), ` (Weekly Dividend), ` (Direct Weekly Dividend), ` (Monthly Dividend), ` (Direct Monthly Dividend), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Annual Dividend), ` (Direct Annual Dividend). With Effect from 1st June 2018, the is changed to CRISIL AA Short Term Bond Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to CRISIL Composite AA Short Term Bond Index. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

38 KOTAK MEDIUM TERM FUND An open-ended medium term debt scheme investing in instruments such that the macaulay duration of the portfolio is between 3 years and 4 years Maturity Short Medium Long Volatility Med Fund Manager: A The investment objective of the scheme is to generate regular income and capital appreciation by investing in a portfolio of medium term debt and money market instruments. There is no assurance or... guarantee that the investment objective of the scheme will be achieved. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend... Reinvestment & Growth (applicable for all plans) Dividend Frequency Quarterly (20th of Mar, Jun, Sep and Dec of every Year), Annually (12th of March) Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Purchase: `5,000/- and in multiples of 1 for purchases and for `0.01 for switches. Additional Purchase: `1000 & in multiples of `1.for purchases and for `0.01 for switches. Ideal Investment Horizon: 2.5 years & above Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemption / switch out of upto 15% of the initial investment amount (limit) purchased or switched in within 18 months from the date of allotment: Nil. b) If units redeemed or switched out are in excess of the limit within 18 months from the date of allotment: 2%. c) If units are redeemed or switched out on or after 18 months from the date of allotment: Nil. Regular:1.75%; Direct: 1.04% Mr. Deepak Agrawal* `4, crs `4, crs : NIFTY Medium Duration Debt Index Allotment date: March 21, 2014 Folio count: 17, % 2.16 yrs 10.12% Investors understand that their principal will be at moderate risk Income over a medium term investment horizon Investment in debt, government securities & money market instruments with portfolio Macaulay duration between 3 years & 4 years * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Mutual Fund Units Indiainfravit Trust (L & T IDPL) Infrastructure Investment Trust (InvIT) 0.58 Mutual Fund Units - Total 0.58 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Karelides Traders Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by a wholly owned subsidiary of Piramal Enterprises Ltd ) ICRA AA-(SO) 6.53 Reliance Jio Infocomm Ltd. CRISIL AAA 5.89 Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) ICRA AA 5.25 HPCL Mittal Energy Ltd. ICRA AA 3.90 Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 3.55 Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions) BRICKWORK BWR AA-(SO) 2.76 Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group) CRISIL AAA 2.25 Muthoot Fincorp Ltd. BRICKWORK BWR A Dewan Housing Finance Corporation Ltd. CARE AAA 2.19 Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) BRICKWORK BWR A+(SO) 2.19 Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) CRISIL AA(SO) 2.11 Dalmia Cement (Bharat) Ltd ICRA AA 1.97 Nirma Ltd. CRISIL AA 1.96 Prestige Estates Projects Limited ICRA A Altico Capital India Pvt Ltd FITCH IND AA Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) UNRATED 1.10 Hinduja Leyland Finance Ltd. CRISIL AA Vizag General Cargo Berth Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Vedanta Ltd ) CRISIL AA(SO) 1.09 Future Lifestyle Fashions Ltd. CRISIL AA S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) CARE AA+(SO) 1.06 Essel Lucknow Raebareli Toll Roads Limited ( Funding against NHAI Annuity) CARE AAA 1.05 ECL Finance Ltd. ICRA AA 0.99 Igarashi Motors Sales Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by Axis Capital ) ICRA AAA(SO) 0.96 YES Bank Ltd. ICRA AA 0.95 JAMNAGAR UTILITIES & POWER PRIVATE LIMITED ( Mukesh Ambani Group ) CRISIL AAA 0.87 Muthoot Finance Ltd. CRISIL AA 0.54 Bharti Telecom Ltd. CRISIL AA Grand View Estates Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AA(SO) 0.44 ECL Finance Ltd. BRICKWORK BWR AA 0.41 Aasan Corporate Solutions Pvt. Ltd. ( Guaranteed by a Piramal Group Company ) ICRA AA-(SO) 0.39 Jana Small Finance Bank Ltd. ICRA BBB 0.33 L & T Housing Finance Ltd. CARE AAA 0.33 Aarish Solar Power Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.32 Aashman Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.32 Divyesh Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.32 Elena Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.32 Pratyash Renewable Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.32 SEI Baskara Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.32 SEI Enerstar Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO)

39 KOTAK MEDIUM TERM FUND An open-ended medium term debt scheme investing in instruments such that the macaulay duration of the portfolio is between 3 years and 4 years SEI Mihir Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.32 Shreyas Renwable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.32 Zuvan Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.32 Tata Sons Ltd. CRISIL AAA 0.28 East-North Interconnection Company Limited ( Operational power transmission project ) CRISIL AAA(SO) 0.22 IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.21 The Indian Hotels Company Ltd. CARE AA Asirvad Microfinance Private Limited ( 85 subsidiary of Manappuram Finance Ltd ) CRISIL A LIC Housing Finance Ltd. CRISIL AAA 0.02 Vedanta Ltd. CRISIL AA 0.02 Corporate Debt/Financial Institutions - Total Public Sector Undertakings Punjab National Bank FITCH IND A U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 5.23 Punjab & Sind Bank ICRA A U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(SO) 3.77 Coastal Gujarat Power Ltd. ( Guaranteed by TATA Power Co. Ltd ) CARE AA(SO) 2.09 Syndicate Bank CARE AA Union Bank of India CARE AA Union Bank of India FITCH IND AA 1.49 U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA 1.32 Power Finance Corporation Ltd. CRISIL AAA 1.29 PNB Housing Finance Ltd. FITCH IND AAA 1.25 PNB Housing Finance Ltd. CARE AAA 1.19 Andhra Bank CARE A United Bank Of India CRISIL AA State Bank Of India. CRISIL AAA 0.24 Punjab National Bank CARE AA Steel Authority of India Ltd. FITCH IND AA Public Sector Undertakings - Total Government Dated Securities 1.44% Central Government SOV 0.34 Government Dated Securities - Total 0.34 Collateral Borrowing & Lending obligation 0.12 Net Current /(Liabilities) Net Current /(Liabilities) 3.14 ALLOCATION (%) Debentures and Bonds Net Current Unrated Government Dated Securities CBLO & Term Deposits & Rev.Repo RATING PROFILE (%) AA+, AA+(SO), AA, AA(SO), BWR AA, IND AA, IND AA(SO), AA-, AA-(SO), BWR AA-(SO), IND AA- AAA, AAA(SO), IND AAA, SOV A+, A+(SO), BWR A+, BWR A+(SO), IND A+ Net Current Unrated BBB CBLO & Term Deposits & Rev.Repo Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 3.23 years Kotak Medium Term Fund NAV as on September 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Annual Dividend), ` (Direct Annual Dividend). With Effect from 1st June 2018, the is changed to Nifty Medium Duration Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to NIFTY Medium Duration Debt Index. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

40 KOTAK BOND (Erstwhile Kotak Mahindra Bond Unit 99) An open-ended medium term debt scheme investing in instruments such that the macaulay duration of the portfolio is between 4 years and 7 years Maturity Short Medium Long Volatility Med Fund Manager: A The investment objective of the is to create a portfolio of debt instruments such as bonds, debentures, Government Securities and money market instruments, including repos in permitted securities of different maturities, so as to spread the risk across different kinds of issuers in the debt markets. There is no assurance that the investment objective of the will be achieved. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Quarterly (20th of Mar/Jun/Sep/Dec), Half Yearly (20th of Mar/Sept), Annual (12th of Mar) (applicable for all plans) Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 1 year & above Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions/switch outs (including SIP/STP) within 3 months from the date of allotment of units: 0.20% b) For redemptions/switch outs (including SIP/STP) after 3 months from the date of allotment of units: Nil Note: The aforesaid revised exit load structure will be applicable only on a prospective basis for Units purchased /SIP/STP registered on or after February 22, Regular:1.86%; Direct: 1.05% Mr. Abhishek Bisen* `1, crs `1, crs : NIFTY Medium to Long Duration Debt Index Allotment date: November 25, 1999 Folio count: 4, % 1.34 yrs 6.80% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Muthoot Finance Ltd. CRISIL AA 6.08 Rent A Device Trust ( ) ICRA AAA(SO) 5.64 HDFC Ltd. CRISIL AAA 5.30 LIC Housing Finance Ltd. CRISIL AAA 4.44 Reliance Jio Infocomm Ltd. CRISIL AAA 3.47 HDB Financial Services Ltd. CRISIL AAA 2.53 Indiabulls Housing Finance Ltd. CARE AAA 2.23 Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group) CRISIL AAA 1.10 Tata Sons Ltd. CRISIL AAA 0.81 Can Fin Homes Ltd. ICRA AAA 0.79 Piramal Capital & Housing Finance Ltd. ICRA AA Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 0.27 Hindalco Industries Ltd. CRISIL AA 0.02 Corporate Debt/ Financial Institutions - Total Public Sector Undertakings National Bank for Agriculture & Rural Development CRISIL AAA Punjab National Bank FITCH IND A Food Corporation of India CRISIL AAA(SO) 2.90 Power Finance Corporation Ltd. CRISIL AAA 2.55 ONGC Manglore ALLOCATION (%) Petrochemicals Ltd. FITCH IND AAA 1.12 Rural Electrification Corporation Ltd. CRISIL AAA 1.08 Export-Import Bank of India CRISIL AAA 0.56 Public Sector Undertakings - Total Government Dated Securities 6.84% Central Government SOV % Central Government SOV % State Government SOV % State Government SOV % State Government SOV 0.11 Government Dated Securities - Total 4.33 Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions Sundaram Finance Ltd. CRISIL A HDFC Ltd. CRISIL A Indiabulls Housing Finance Ltd. CRISIL A Corporate Debt/ Financial Institutions - Total 5.49 Collateral Borrowing & Lending obligation Net Current / (Liabilities) Debentures and Bonds CBLO & Term Deposits & Rev.Repo Commercial Paper (CP)/Certi cate of Deposits (CD) Government Dated Securities Net Current RATING PROFILE (%) A1+, AAA, AAA(SO), IND AAA, SOV AA+, AA IND A+ Net Current CBLO & Term Deposits & Rev.Repo Investors understand that their principal will be at moderate risk Income over a long investment horizon Investment in debt & money market securities with a portfolio Macaulay duration between 4 years & 7 years. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. (^) Fully or Party blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 22.28% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments :1.67 years. Kotak Bond (Erstwhile Kotak Mahindra Bond Unit 99) NAV as on September 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Annual Dividend), ` (Direct Annual Dividend) With Effect from 1st June 2018, the is changed to Nifty Medium to Long Duration Debt Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to NIFTY Medium to Long Duration Debt Index. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

41 KOTAK CORPORATE BOND FUND An open-ended debt scheme predominantly investing in AA+ and above rated corporate bonds Maturity Short Medium Long Volatility Med Fund Manager: A The investment objective of the scheme is to generate income by investing in debt /and money market securities across the yield curve and predominantly in AA+ and above rated corporate securities. The scheme would also seek to maintain reasonable liquidity within the fund. There is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend... Reinvestment & Growth (applicable for all plans) Dividend Frequency Monthly (12th of every Month) Ratios Standard Deviation Modified Duration Portfolio Yield Mr. Deepak Agrawal* ` crs ` crs : CRISIL Corporate Bond Composite Index Allotment date: September 21, 2007 Folio count: 3,068 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1for purchase and for `0.01 for switches. Ideal Investment Horizon: 1 Year & Above Entry Load: Nil. (applicable for all plans) Exit Load: Nil. (applicable for all plans) Regular: 0.58%; Direct: 0.28% 0.77% 1.10 yrs 9.04% Debt Instruments Debentures and Bonds Corporate Debt/ Financial Institutions SP Jammu Udhampur way Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AAA Rent A Device Trust ( ) ICRA AAA(SO) Reliance Industries Ltd. CRISIL AAA Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 7.06 Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) ICRA AAA 4.86 Manav Investment And Trading Company Ltd. ( backed by unconditional underwriting obligation by Axis Capital ) ICRA AAA 4.27 Reliance Jio Infocomm Ltd. ( Irrevocably and unconditionally guaranteed by Reliance Industries ) CRISIL AAA 2.09 LIC Housing Finance Ltd. CRISIL AAA 1.43 Indiabulls Housing Finance Ltd. CARE AAA 1.39 L & T Housing Finance Ltd. CARE AAA 1.22 Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) CRISIL AAA 1.10 IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.70 ICICI Home Finance Company Limited ICRA AAA 0.42 Bajaj Finance Ltd. FITCH IND AAA 0.34 HDFC Ltd. CRISIL AAA 0.14 ALLOCATION (%) Corporate Debt/ Financial Institutions - Total Public Sector Undertakings PNB Housing Finance Ltd. CARE AAA 9.51 Power Finance Corporation Ltd. CRISIL AAA 5.70 ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 5.15 Small Industries Development Bank Of India CARE AAA 2.08 National Bank for Agriculture & Rural Development CRISIL AAA 1.39 Powergrid Vizag Transminssion Ltd. ( backed by unconditional and irrevocable guarantee by Powergrid Corp ) CRISIL AAA(SO) 0.97 Power Grid Corporation of India Ltd. CRISIL AAA 0.96 Rural Electrification Corporation Ltd. CRISIL AAA 0.95 Canara Bank CRISIL AAA 0.69 Export-Import Bank of India CRISIL AAA 0.24 Public Sector Undertakings - Total Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions Piramal Capital & Housing Finance Ltd. CRISIL A Indiabulls Housing Finance Ltd. CRISIL A Corporate Debt/ Financial Institutions - Total 7.15 Collateral Borrowing & Lending obligation 1.95 Net Current / (Liabilities) Debentures and Bonds Net Current Commercial Paper (CP)/Certi cate of Deposits (CD) CBLO & Term Deposits & Rev.Repo RATING PROFILE (%) A1+, AAA, AAA(SO), IND AAA Net Current CBLO & Term Deposits & Rev.Repo Investors understand that their principal will be at moderately low risk Regular Income over short term Income by investing in fixed income securities of varying maturities and predominantly investing in AA+ and above rated corporate bonds. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Aggregate value of investments by other schemes of Kotak Mahindra Mutual Fund as on 30 June 2018 is Rs Lacs Notes: (^) Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 30 Apr 2018 is 7.80% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 1.21 years Kotak Corporate Bond Fund NAV as on September 28, 2018: ` (Regular Plan-Growth Option), ` (Regular Plan-Monthly Dividend), ` (Direct Plan- Growth Option), ` (Direct Plan- Monthly Dividend) With Effect from 1st June 2018, the is changed to CRISIL Corporate Bond Composite Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to CRISIL Corporate Bond Composite Index. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

42 KOTAK BANKING AND PSU DEBT FUND An open-ended debt scheme predominantly investing in debt instruments of banks, public sector undertakings, public financial institutions and municipal bonds Maturity Short Medium Long Volatility Med Fund Manager: A To generate income by predominantly investing in debt & money market securities issued by Banks, Public Sector Undertaking (PSUs), Public Financial Institutions (PFI), Municipal Bonds and Reverse repos in such securities, sovereign securities issued by the Central Government & State Governments, and / or any security unconditionally... guaranteed by the Govt. of India. There is no assurance that or guarantee that the investment objective of the scheme will be achieved. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Monthly (12th of every Month) Ratios Standard Deviation Modified Duration Portfolio Yield Mr. Deepak Agrawal* `1, crs ` crs : CRISIL Banking and PSU Debt Index Allotment date: December 29,1998 Folio count: 2,112 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: Dividend Payout, Dividend Re-investment & Growth `5000 & above. Additional Investment: `1000 & in multiples of `1. Ideal Investment Horizon: 1-3 months Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Regular:0.51%; Direct: 0.16% 1.73% 1.87 yrs 8.67% Debt Instruments Debentures and Bonds Corporate Debt/ Financial Institutions AXIS Bank Ltd. CRISIL AA ICICI Bank Ltd. ICRA AA Corporate Debt/ Financial Institutions - Total Public Sector Undertakings Rural Electrification Corporation Ltd. CRISIL AAA 9.03 U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 7.26 State Bank Of India. CRISIL AAA 7.00 Power Finance Corporation Ltd. CRISIL AAA 6.08 Canara Bank CRISIL AAA 5.14 Small Industries Development Bank Of India CARE AAA 4.95 Power Grid Corporation of India Ltd. CRISIL AAA 4.36 National Bank for Agriculture & Rural Development CRISIL AAA 3.31 ALLOCATION (%) RATING PROFILE (%) Power Finance Corporation Ltd. ( ) CRISIL AAA 2.74 Power Finance Corporation Ltd. ICRA AAA 2.20 Bank Of Baroda CARE AA Powergrid Vizag Transminssion Ltd. ( backed by unconditional and irrevocable guarantee by Powergrid Corp ) CRISIL AAA(SO) 1.44 Public Sector Undertakings - Total Government Dated Securities 8.88% State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV 0.55 Government Dated Securities - Total Collateral Borrowing & Lending obligation 6.18 Net Current / (Liabilities) Debentures and Bonds Government Dated Securities CBLO & Term Deposits & Rev.Repo Net Current AAA, AAA(SO), SOV AA+, IND AA(SO) CBLO & Term Deposits & Rev.Repo Net Current Investors understand that their principal will be at low low risk Income over a short to medium term investment horizon. Investment in debt & money market securities of PSUs, Banks, Public Financial Institutions, government securities, and Municipal Bonds. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments 2.34 years. Kotak Banking And PSU Debt Fund NAV as on September 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Monthly Dividend), ` (Direct Monthly Dividend) With Effect from 1st June 2018, the is changed to CRISIL Banking and PSU Debt Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to CRISIL Banking and PSU Debt Index. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

43 KOTAK MAHINDRA GILT UNIT SCHEME 98 - INVESTMENT PLAN An open-ended debt scheme investing in government securities across maturity Maturity Short Medium Long Volatility Med Fund Manager: A The objective of the Plan is to generate risk-free returns through investments in sovereign securities issued by the Central Government... and/or State Government(s) and/or any security unconditionally guaranteed by the Government of India, and/or reverse repos in such securities as and when permitted by RBI. A portion of the fund may be invested in Reverse repo, CBLO and/or other similar instruments as may be notified to meet the day-to-day liquidity requirements of the Plan. To ensure total safety of Unit holders' funds, the Plan does not invest in any other securities such as shares, debentures or bonds issued by any other entity. The Fund will seek to underwrite issuance of Government Securities if and to the extent permitted by SEBI/RBI and subject to the prevailing rules and regulations specified in this respect and may also participate in their auction from time to time. Subject to the maximum amount permitted from time to time, the Plan may invest in securities abroad, in the manner allowed by SEBI/RBI in conformity with the guidelines, rules and regulations in this respect. There is no assurance that the investment objective of the Plan will be achieved. It is however... emphasized, that investments under the Plan are made in Government Securities, where there is no risk of default of payment in principal or interest amount. Available Plans/Options A) Regular Non Direct Plan, B) PF & Trust Non Direct Plan, C) Regular Direct Plan, D) PF & Trust Direct Plan. Options: Dividend Payout, Dividend... Reinvestment & Growth (applicable for all plans) Dividend Frequency Quarterly (20th of Mar/Jun/Sep/Dec) Ratios Standard Deviation A)Regular Plan B) PF & Trust Plan Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 1 year & above Entry Load: (a) Regular Plan - Entry: Nil. (b) PF & Trust Plan - Entry: Nil. (applicable for all plans) Exit Load: (a) Regular Plan - Exit: Nil. (b) PF&Trust Plan-Exit: Nil. (applicable for all plans) Regular:1.46%; Direct: 0.46% Mr. Abhishek Bisen* ` crs ` crs : Nifty All Duration G-Sec Index Allotment date: Regular Plan - December 29, 1998; PF & Trust Plan - November 11, 2003 Folio count: 1, % 3.81% 0.82 yrs 5.04% Government Dated Securities 7.37% Central Government SOV % Central Government SOV % Central Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV 0.25 Government Dated Securities - Total Treasury Bills ALLOCATION (%) 182 Days Treasury Bill 13/12/2018 SOV Treasury Bills - Total Collateral Borrowing & Lending obligation Net Current / (Liabilities) CBLO & Term Deposits & Rev.Repo Treasury Bills Government Dated Securities Net Current RATING PROFILE (%) SOV CBLO & Term Deposits & Rev.Repo Net Current (^) Fully or Party blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Aug 2018 is 17.45% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.98 years. Kotak Mahindra Gilt Unit 98 - Investment Plan NAV as on September 28, 2018: ` (Regular-Growth), ` (Regular-Growth-Direct), ` (Quarterly-Dividend), ` (Quarterly-Dividend Direct), ` (PF & Trust-Growth), ` (PF & Trust-Growth Direct), ` (PF & Trust-Quarterly Dividend ) With Effect from 1st June 2018, the is changed to Nifty All Duration G-Sec Index from ISEC Composite Index. The above performance is benchmarked to Nifty All Duration G-Sec Index. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no Investors understand that their principal will be at moderate risk Income over a long investment horizon Investment in sovereign securities issued by the Central and/or State Government(s) and/or reverse repos in such securities * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. 39

44 KOTAK DYNAMIC BOND FUND (Erstwhile Kotak Flexi Debt ) An open-ended dynamic debt scheme investing across duration Maturity Short Medium Long Volatility Med Fund Manager: A The investment objective of the is to maximise returns through an active management of a portfolio of debt and money market securities. There is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plans/Options A)Regular Plan B)Direct Plan Options: Dividend Payout, Dividend... Reinvestment & Growth (applicable for all plans) Dividend Frequency Monthly Dividend Payout & Reinvestment (12th of every Month) (w.e.f June 1, 2017), Q u a r t e r l y D i v i d e n d P a y o u t a n d Reinvestment (20th of March, June, September and December of every year) (applicable for all plans) Ratios Standard Deviation Modified Duration Portfolio Yield Mr. Deepak Agrawal* ` crs ` crs : Nifty Composite Debt Index Allotment date: May 26, 2008 Folio count: 4,467 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 6 months & above Entry Load: Nil. (applicable for all plans) Exit Load: Nil Regular:0.95%; Direct:0.40% 1.82% 2.56 yrs 8.43% Debt Instruments Debentures and Bonds Corporate Debt/ Financial Institutions Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 2.48 Bajaj Finance Ltd. CRISIL AAA 1.16 HDFC Ltd. CRISIL AAA 0.33 SP Jammu Udhampur way Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AAA 0.25 Corporate Debt/ Financial Institutions - Total 4.22 Public Sector Undertakings Bank Of Baroda CRISIL AA U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 3.62 Bank Of Baroda CARE AA 3.36 Union Bank of India FITCH IND AA 2.94 Power Finance Corporation Ltd. CRISIL AAA 1.09 Rural Electrification Corporation Ltd. CRISIL AAA 0.73 Export-Import Bank of India CRISIL AAA 0.17 Public Sector Undertakings - Total Government Dated Securities ALLOCATION (%) 8.53% State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % Central Government SOV % State Government SOV 0.86 Government Dated Securities - Total Collateral Borrowing & Lending obligation 8.40 Net Current / (Liabilities) Government Dated Securities CBLO & Term Deposits & Rev.Repo RATING PROFILE (%) Debentures and Bonds Net Current AAA, SOV AA+, AA, IND AA, IND AA(SO) CBLO & Term Deposits & Rev.Repo Net Current Investors understand that their principal will be at moderately low risk Income over a medium term investment horizon Investment in debt & money market securities across durations. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 3.12 years Kotak Dynamic Bond Fund (Erstwhile Kotak Flexi Debt ) NAV as on September 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Regular Monthly Dividend), ` (Direct Monthly Dividend) With Effect from 1st June 2018, the is changed to Nifty Composite Debt Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to Nifty Composite Debt Index. *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

45 Details of exposure across all Debt Funds of Kotak Mahindra Mutual Fund as on September 28, 2018 Issuer Name %age of Exposure to Debt AUM AU Small Finance Bank Ltd AXIS Bank Ltd AXIS Finance Ltd Aarish Solar Power Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 Aasan Corporate Solutions Pvt. Ltd. ( Guaranteed by a Piramal Group Company ) 0.44 Aashman Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions ) 0.56 Adani Transmission Ltd 0.13 Aditya Birla Finance Ltd Altico Capital India Pvt Ltd 0.13 Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) 0.13 Andhra Bank 0.59 Asirvad Microfinance Private Limited ( 85% subsidiary of Manappuram Finance Ltd ) 0.05 Aspire Home Finance Corporation Ltd 0.09 Avendus Finance Pvt Ltd Azim premji Trust 0.18 Bahadur Chand Investments Private Limited 0.01 Bajaj Capital Ventures Pvt. Ltd. ( Secured by Equity shares of Bajaj Corp. Ltd ) 0.10 Bajaj Finance Ltd Bajaj Housing Finance Ltd Bandhan Bank Limited 0.06 Bank Of Baroda 0.72 Bharti Airtel Ltd Bharti Telecom Ltd Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) 0.24 Birla Corporation Ltd CBLO/REVERSE REPO Can Fin Homes Ltd Canara Bank 0.07 Central Government 2.57 Chambal Fertilisers & Chemicals Ltd Cholamandalam Investment and Finance Company Ltd Coastal Gujarat Power Ltd. ( Guaranteed by TATA Power Co. Ltd ) 0.26 Dalmia Cement (Bharat) Ltd 0.25 Dewan Housing Finance Corporation Ltd Divyesh Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 ECL Finance Ltd East-North Interconnection Company Limited ( Operational power transmission project ) 0.03 Edelweiss Agri Value Chain Ltd. ( Unconditional and irrevocable guarantee from Edelweiss Financial Services Limited) 0.37 Edelweiss Commodities Services Ltd Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) 0.65 Edelweiss Housing Finance Limited 0.26 Edisons Utility Works Pvt.Ltd. ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) 0.17 Elena Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 Endurance Technologies Ltd 0.13 Essel Lucknow Raebareli Toll Roads Limited ( Funding against NHAI Annuity) 0.06 Export-Import Bank of India 0.11 Food Corporation of India 0.07 Fullerton India Credit Co. Ltd Future Lifestyle Fashions Ltd Grand View Estates Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.38 Green Infra Wind Energy Ltd Gruh Finance Ltd HDB Financial Services Ltd HDFC Bank Ltd HDFC Ltd HPCL Mittal Energy Ltd HPCL Mittal Pipelines Ltd Hero FinCorp Ltd Point Properties Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.11 Hindalco Industries Ltd Hinduja Leyland Finance Ltd ICICI Bank Ltd ICICI Home Finance Company Limited 0.19 IDFC Bank Limited 1.21 IIFL Home Finance Ltd IL & FS Transportation Networks Ltd. ( Parent agreement in relation to the payment and procurement obligations of the parent IL & fs Ltd. ) 0.05 IOT Utkal Energy Services Ltd Igarashi Motors Sales Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by Axis Capital ) 0.06 Indiabulls Housing Finance Ltd Indian Railway Finance Corporation Ltd Indostar Capital Finance Limited 0.16 IndusInd Bank Ltd Jamnagar Utilities & Power Private Limited( Mukesh Ambani Group ) 0.34 JM Financial Asset Reconstruction Co. Pvt. Ltd 0.13 JM Financial Credit Solutions Ltd JM Financial Products Limited 0.08 JSW Techno Projects Management Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) 0.26 Jana Small Finance Bank Ltd Jyothy Fabricare Services Ltd. ( Guaranteed By Jyothi Laboratories Ltd ) 0.08 Karelides Traders Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by a wholly owned subsidiary of Piramal Enterprises Ltd ) 0.87 Konkan Railway Corporation Ltd Konti Infrapower & Multiventures Pvt. Ltd. ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) 0.34 Kotak Mahindra Investments Ltd Kotak Mahindra Prime Ltd L & T Finance Ltd L & T Housing Finance Ltd LIC Housing Finance Ltd Larsen and Toubro Ltd MA Multi Trade Pvt Ltd ( Secured by Equity shares of Bajaj Corp. Ltd )

46 Issuer Name %age of Exposure to Debt AUM Mahindra & Mahindra Financial Services Ltd Manappuram Finance Ltd Manav Investment And Trading Company Ltd. ( backed by unconditional underwriting obligation by Axis Capital ) 0.20 Muthoot Capital Services Ltd Muthoot Finance Ltd Muthoot Fincorp Ltd NayaraEnergy Limited 0.13 Nabha Power Ltd. ( Backed by Letter of Comfort from L&T ) 0.51 Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) 0.93 National Bank for Agriculture & Rural Development 4.99 National ways Authority Of India 0.06 National Thermal Power Corporation Ltd Nirma Ltd Nuvoco Vistas Corporation Ltd. ( 100% subsidiary of Nirma Ltd.) 0.41 ONGC Manglore Petrochemicals Ltd PNB Housing Finance Ltd Piramal Capital & Housing Finance Ltd Piramal Enterprises Ltd Power Finance Corporation Ltd Power Grid Corporation of India Ltd Powergrid Vizag Transminssion Ltd. ( backed by unconditional and irrevocable guarantee by Powergrid Corp ) 0.03 Pratyash Renewable Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 Prestige Estates Projects Limited 0.20 Punjab & Sind Bank 0.49 Punjab National Bank 0.43 RBL Bank Ltd Reliance Industries Ltd Reliance Jio Infocomm Ltd Reliance Jio Infocomm Ltd. ( Irrevocably and unconditionally guaranteed by Reliance Industries ) 0.15 Rent A Device Trust (PTC issuer with underlying rentals due from Reliance Retail Ltd) 1.05 Rural Electrification Corporation Ltd S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) 0.70 S D Corporation Pvt. Ltd. ( Guarantee by Shapoorji Pallonji & Company Ltd ) 0.04 SBK Properties Pvt Ltd. ( Guaranteed by a Kalyani Group company ) 0.05 SEI Baskara Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 SEI Enerstar Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 SEI Mihir Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 SP Jammu Udhampur way Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.23 Sahyadri Agencies Ltd ( Secured by Equity shares of Jyothy Laboratories Ltd. ) 0.10 Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) 0.56 Shapoorji Pallonji Energy Gujarat Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.08 Shapoorji Pallonji Finance Private Limited 0.03 Shreyas Renwable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 Shriram City Union Finance Ltd Shriram Transport Finance Co Ltd Sikka Ports & Terminals Ltd Small Industries Development Bank Of India 0.90 Standard Chartered Investment & Loan India Ltd State Bank Of India State Government 4.74 Steel Authority of India Ltd Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) 0.38 Sundaram BNP Paribas Home Finance Ltd 0.01 Sundaram Finance Ltd Suraksha Realty Ltd. ( Secured by Equity shares of Sun Pharmaceuticals Industries Ltd ) 1.37 Syndicate Bank 0.30 Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) 0.49 Tata Capital Financial Services Limited 0.24 Tata Capital Housing Finance Ltd Tata Motors Finance Ltd Tata Motors Finance Solutions Ltd Tata Motors Ltd Tata Power Company Ltd Tata Sons Ltd Tata Steel Ltd The Indian Hotels Company Ltd Torrent Pharmaceuticals Ltd U P Power Corporation Ltd ( Guaranteed By UP State Government ) 2.27 Union Bank of India 0.38 United Bank Of India 0.19 Utkarsh Small Finance Bank Ltd Vedanta Ltd Vijaya Bank 0.05 Visu Leasing and Finance Pvt. Ltd Vizag General Cargo Berth Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Vedanta Ltd ) 0.06 YES Bank Ltd Zuvan Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 Total Industry / Sector %age of Exposure to Debt AUM BANK CASH(CBLO/REVERSE REPO) CORPORATES FINANCIAL SERVICES GOI/TBILLS 7.31 NBFC REAL ESTATE 0.32 Total Includes Hybrid schemes - debt schemes having equity exposure 42

47 KOTAK ASSET ALLOCATOR FUND An open-ended fund of fund scheme investing in specified open-ended equity, and debt schemes of Kotak Mahindra Mutual Fund Maturity For Debt: Short Medium Long Volatility Medium Investment style For Equity: Value Blend Growth Size Large Mid Small Fund Manager: A Mr. Deepak Gupta* `35.32 crs `34.71 crs : NIFTY 50 Hybrid Composite Debt 50:50 Index Allotment date: August 9, 2004 Folio count: 2,398 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 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 Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above Entry 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 (where no broker code is mentioned) to Direct Plan In case of switch from Direct Plan to Regular Plan. Regular:2.01%; Direct: 1.16% Equity & Equity related Mutual Fund Units Kotak Savings Fund Direct Growth Debt Kotak Bond Direct Plan Growth Debt Kotak Standard Multicap Fund Direct Growth Equity 9.68 SECTOR ALLOCATION (%) Kotak Mahindra Liquid Direct Plan Growth Debt 1.65 Mutual Fund Units - Total Collateral Borrowing & Lending obligation 3.75 Net Current /(Liabilities) Debt Equity CBLO & Term Deposits & Rev.Repo Net Current Investors understand that their principal will be at moderately high risk 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. **Actual TER (Direct 1.07%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. Kotak Asset Allocator Fund NAV as on September 28, 2018: ` (Dividend Option), `77.71 (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) with the Effect from 1st June 2018, The is Changed to NIFTY 50 Hybrid Composite Debt 50:50 Index from Crisil Hybrid Aggressive Index *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

48 KOTAK US EQUITY FUND Investment style Value Blend Growth Size Large Mid An open-ended fund of funds scheme investing in units of funds that invests predominantly in companies having assets, products or operations in united states Small Fund Manager: A Mr. Deepak Gupta* `7.33 crs `7.94 crs : Standard & Poor's 500 Total Return Net Index in USD is the benchmark of the underlying scheme. The same converted into INR using RBI reference rate will be the benchmark for the scheme. Allotment date: December 20, 2013 Folio count: 1,073 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 objective of the scheme will be realized. Equity & Equity related Mutual Fund Units Pinebridge US Large Cap Research Enhance Fund Overseas Mutual Fund Mutual Fund Units - Total Collateral Borrowing & SECTOR ALLOCATION (%) Lending obligation 1.26 Net Current /(Liabilities) Overseas Mutual Fund Net Current CBLO & Term Deposits & Rev.Repo Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above 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 redemptions / switch outs (including SIP/STP) after 1 year from the date of Allotment of units: NIL. Regular:1.46%; Direct: 0.71% Investors understand that their principal will be at high risk 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. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. **Actual TER (Direct 0.70%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. Kotak US Equity Fund NAV as on September 28, 2018: ` (Dividend Option), `18.3 (Direct Dividend Option), `17.63 (Growth Option), ` (Direct Growth Option) *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no

49 KOTAK GLOBAL EMERGING MARKET FUND Investment style Value Blend Growth Size Large Mid An open-ended fund of fund scheme investing in overseas mutual fund schemes investing in global emerging markets Small Fund Manager: A The investment objective of the scheme is to provide long-term capital appreciation by investing in an overseas mutual fund scheme that invests in a diversified portfolio of securities as prescribed by SEBI from time to time in global emerging markets. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Mr. Deepak Gupta (Dedicated fund manager for Fund Managers overseas investment) & Mr. Abhishek Bisen* `33.66 crs `33.96 crs : MSCI Emerging Market Allotment date: September 26, 2007 Folio count: 7,512 Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above Entry Load: Nil. (applicable for all plans) Exit Load: a) For exit within 1 year from the date of allotment of units: 1%. b) For exit after 1 year from the date of Allotment of units: Nil Regular:1.85%; Direct: 1.50% Equity & Equity related Mutual Fund Units MGF Asian Small Equity Fund Class I Overseas Mutual Fund ishares MSCI Emerging Markets ETF Overseas Mutual Fund Mutual Fund Units - Total Collateral Borrowing & SECTOR ALLOCATION (%) Lending obligation Net Current /(Liabilities) Overseas Mutual Fund CBLO & Term Deposits & Rev.Repo Net Current Investors understand that their principal will be at high risk Long term capital growth Investment in overseas mutual fund schemes that invest in a diversified portfolio of securities in global emerging markets * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. **Actual TER (Direct 1.24%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. Kotak Global Emerging Market Fund NAV as on September 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no

50 KOTAK WORLD GOLD FUND Investment style Value Blend Growth Size Large Mid An open-ended fund of fund scheme investing in predominantly in units of falcon gold equity fund or in other similar overseas mutual fund schemes Small Fund Manager: A Mr. Deepak Gupta `30.54 crs `30.86 crs : Financial Times Gold Mines Total Price Index, in USD is the benchmark of Falcon Gold Equity Fund. The above translated to INR using the RBI Reference Rate will be the benchmark of Kotak World Gold Fund. Allotment date: June 06, 2008 Folio count: 11,834 The primary investment objective of the is to provide long term capital appreciation by investing predominantly in units of Falcon Gold Equity Fund. The may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes. The may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of Mutual Funds, in order to meet liquidity requirements from time to time. However, there is no assurance that the objective of the scheme will be realized. Equity & Equity related Mutual Fund Units Falcon Gold Equity ASIA Overseas Mutual Fund Mutual Fund Units - Total Collateral Borrowing & SECTOR ALLOCATION (%) Lending obligation 8.34 Net Current /(Liabilities) Overseas Mutual Fund CBLO & Term Deposits & Rev.Repo Net Current Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above 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 redemptions / switch outs (including SIP/STP) after 1 year from the date of Allotment of units: NIL; Regular: 1.71%; Direct: 1.26% Investors understand that their principal will be at high risk Long term capital growth Long term capital appreciation by investing in units of Falcon Gold Equity Fund which in turn invests in international securities of gold production, processing and marketing companies * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. **Actual TER (Direct 1.19%) is lower on account of statutory reversal of management fees in case of investments in bank fixed Deposits, AMC investments, investments by other schemes of the AMC. Kotak World Gold Fund NAV as on September 28, 2018: `6.414 (Dividend Option), `6.699 (Direct Dividend Option), `7.739 (Growth Option), `8.063 (Direct Growth Option) *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no

51 KOTAK GOLD ETF An open-ended scheme replicating/ tracking physical gold prices Fund Manager: A The investment objective of the scheme is to generate returns that are in line with the returns on investment in physical gold, subject to tracking errors. Available Plan Regular Plan Through Exchange:10 Units, Through AMC: Units, Ideal Investment Horizon: 3 years and... above Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Regular: 1.00% Mr. Abhishek Bisen* ` crs ` crs : Price of Gold Allotment date: July 27, 2007 Folio count: 36,652 Gold Gold 1 Kg Fineness Gold Tracking Error: 0.06% Gold Equity & Equity SECTOR ALLOCATION (%) Related - Total Net Current /(Liabilities) 0.20 Net Current 0.20 Investors understand that their principal will be at moderately high risk Returns in line with physical gold over medium to long term, subject to tracking error Investment in physical gold * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Gold ETF NAV as on September 28, 2018: ` With Effect from 25th May 2018, the is renamed to Price of Gold, based on the formula prescribed by SEBI as per Gazette Notification dated December 20, *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no

52 KOTAK NIFTY ETF An open-ended scheme replicating/ tracking nifty 50 index Fund Manager: A The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the Nifty 50 subject to tracking errors. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plan Regular Plan Ratios Portfolio Turnover: Tracking Error: Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Regular: 0.10% Mr. Deepak Gupta* ` crs ` crs : Nifty 50 Allotment date: February 2, 2010 Folio count: 6, % 0.07% Equity & Equity related Reliance Industries Ltd. Petroleum Products 9.88 HDFC Bank Ltd. Banks 9.87 HDFC Ltd. Finance 6.54 Infosys Ltd. Software 6.37 ITC Ltd. Consumer Non Durables 5.85 Tata Consultancy Services Ltd. Software 5.37 ICICI Bank Ltd. Banks 4.51 Larsen And Toubro Ltd. Construction Project 3.60 Kotak Mahindra Bank Ltd. Banks 3.50 Hindustan Unilever Ltd. Consumer Non Durables 2.64 Axis Bank Ltd Banks 2.49 State Bank Of India Banks 2.28 Maruti Suzuki India Limited Auto 2.24 IndusInd Bank Ltd. Banks 1.98 Mahindra & Mahindra Ltd. Auto 1.84 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.58 HCL Technologies Ltd. Software 1.39 Asian Paints Ltd. Consumer Non Durables 1.34 National Thermal Power Corporation Limited Power 1.20 Bajaj Finance Limited Finance 1.18 Oil & Natural Gas Corporation Ltd. Oil 1.15 Tech Mahindra Ltd. Software 1.07 Bharti Airtel Ltd. Telecom - Services 1.02 Tata Steel Limited. Ferrous Metals 1.01 Power Grid Corporation Of India Ltd Power 1.00 Vedanta Ltd. Non - Ferrous Metals 0.99 Ultratech Cement Ltd. Cement 0.97 Tata Motors Ltd. Auto 0.95 Grasim Industries Ltd. Cement 0.92 JSW Steel Ltd. Ferrous Metals 0.91 Hero MotoCorp Ltd. Auto 0.87 Bajaj Auto Ltd. Auto 0.84 Wipro Ltd. Software 0.84 Bajaj Finserv Ltd. Finance 0.83 Coal India Ltd. Minerals/Mining 0.83 GAIL (India) Ltd. Gas 0.78 Yes Bank Ltd Banks 0.78 Hindalco Industries Ltd Non - Ferrous Metals 0.77 Titan Company Ltd. Consumer Durables 0.77 Cipla Ltd. Pharmaceuticals 0.76 Eicher Motors Ltd Auto 0.76 Indian Oil Corporation Ltd Petroleum Products 0.75 Dr Reddys Laboratories Ltd Pharmaceuticals 0.70 Bharat Petroleum Corporation Ltd. Petroleum Products 0.67 Indiabulls Housing Finance Ltd. Finance 0.65 Adani Port and Special Economic Zone Limited Transportation 0.59 UPL Ltd Pesticides 0.56 Zee Entertainment Enterprises Ltd Media and Entertainment 0.56 Bharti Infratel Ltd. Telecom - Equipment & Accessories 0.51 Hindustan Petroleum Corporation Ltd Petroleum Products 0.43 Equity & Equity Related - Total Net Current / (Liabilities) 0.11 SECTOR ALLOCATION (%) Banks Software Petroleum Products Consumer Non Durables Finance Auto Construction Project Pharmaceuticals Power Ferrous Metals REST Investors understand that their principal will be at moderately high risk Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Nifty ETF NAV as on September 28, 2018: ` *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

53 KOTAK SENSEX ETF An open-ended scheme replicating/ tracking S&P BSE sensex index Fund Manager: 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 or... guarantee that the investment objective of the scheme will be achieved. Available Plan Regular Plan Ratios Portfolio Turnover: Tracking Error: Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Regular: 0.27% Mr. Deepak Gupta* A ` crs ` crs : S&P BSE Sensex Allotment date: June 6, 2008 Folio count: 1, % 0.11% Equity & Equity related HDFC Bank Ltd. Banks Reliance Industries Ltd. Petroleum Products HDFC Ltd. Finance 8.14 Infosys Ltd. Software 7.65 ITC Ltd. Consumer Non Durables 6.99 Tata Consultancy Services Ltd. Software 6.47 ICICI Bank Ltd. Banks 5.41 Larsen And Toubro Ltd. Construction Project 4.27 Kotak Mahindra Bank Ltd. Banks 3.73 Hindustan Unilever Ltd. Consumer Non Durables 3.17 Axis Bank Ltd Banks 2.99 State Bank Of India Banks 2.75 Maruti Suzuki India Limited Auto 2.70 IndusInd Bank Ltd. Banks 2.35 Mahindra & Mahindra Ltd. Auto 2.22 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.86 Asian Paints Ltd. Consumer Non Durables 1.61 National Thermal Power Corporation Limited Power 1.44 Oil & Natural Gas Corporation Ltd. Oil 1.38 Bharti Airtel Ltd. Telecom - Services 1.23 Tata Steel Limited. Ferrous Metals 1.23 Power Grid Corporation Of India Ltd Power 1.20 Vedanta Ltd. Non - Ferrous Metals 1.19 Tata Motors Ltd. Auto 1.12 Hero MotoCorp Ltd. Auto 1.05 Bajaj Auto Ltd. Auto 1.01 Coal India Ltd. Minerals/Mining 1.01 Wipro Ltd. Software 1.01 Yes Bank Ltd Banks 0.93 Adani Port and Special Economic Zone Limited Transportation 0.71 Tata Motors Ltd - DVR Auto 0.16 Equity & Equity Related - Total Net Current / (Liabilities) 0.51 SECTOR ALLOCATION (%) Banks Software Consumer Non Durables Petroleum Products Auto Finance Construction Project Power Pharmaceuticals Oil REST Investors understand that their principal will be at moderately high risk Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Sensex ETF NAV as on September 28, 2018: ` *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

54 KOTAK BANKING ETF An open-ended scheme replicating/ tracking nifty bank index Fund Manager: A Mr. Deepak Gupta* `4, crs `4, crs : Nifty Bank Index Allotment date: December 04, 2014 Folio count: 2,036 Equity & Equity related HDFC Bank Ltd. Banks Federal Bank Ltd. Banks 1.18 Bank Of Baroda Banks 0.82 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 Nifty Bank Index subject to tracking errors. There is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plan/Options Regular Plan Option - Dividend Payout Ratios Portfolio Turnover: 36.81% ICICI Bank Ltd. Banks Kotak Mahindra Bank Ltd. Banks Axis Bank Ltd Banks 9.36 State Bank Of India Banks 8.57 IndusInd Bank Ltd. Banks 7.43 Yes Bank Ltd Banks 2.92 RBL Bank Ltd Banks 1.66 Punjab National Bank Banks 0.54 IDFC Bank Limited Banks 0.40 Equity & Equity Related - Total Net Current / (Liabilities) 0.05 Tracking Error: Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and... above Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Regular: 0.21% 0.07% SECTOR ALLOCATION (%) Banks Net Current Investors understand that their principal will be at high risk Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Banking ETF NAV as on September 28, 2018: ` *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

55 KOTAK PSU BANK ETF An open-ended scheme replicating/ tracking nifty PSU bank index Fund Manager: A Mr. Deepak Gupta* `75.41 crs `60.69 crs : Nifty PSU Bank Index Allotment date: November 8, 2007 Folio count: 2,185 Equity & Equity related State Bank Of India Banks Vijaya Bank Banks 1.35 Central Bank Of India Banks 1.12 The investment objective of the scheme is to provide returns that closely correspond to the total returns of Nifty PSU Bank Index, subject to tracking errors. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plan Regular Plan Ratios Bank Of Baroda Banks 7.06 Punjab National Bank Banks 4.66 Canara Bank Banks 3.26 IDBI Bank Ltd Banks 2.03 Union Bank Of India Banks 1.89 Bank of India Banks 1.60 Syndicate Bank Banks 0.88 Oriental Bank of Commerce Banks 0.67 Equity & Equity Related - Total Net Current /(Liabilities) Portfolio Turnover: % Indian Bank Banks 1.46 Tracking Error: Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Regular: 0.49% 0.24% SECTOR ALLOCATION (%) Banks Net Current Investors understand that their principal will be at high risk Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak PSU Bank ETF NAV as on September 28, 2018: ` *For Fund Manager experience, please refer page **Total Expense Ratio includes applicable B30 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

56 Performances as on September 28, 2018 Kotak Bluechip Fund Kotak Bluechip Fund Nifty 50 TRI# S&P BSE SENSEX TRI## Kotak Bluechip Fund Nifty 50 TRI# S&P BSE SENSEX TRI## Since Inception 18.76% 15.26% 14.28% 2,98,894 1,65,540 1,39,879 Last 1 Year 5.77% 13.20% 17.13% 10,577 11,320 11,713 Last 3 Years 9.04% 12.69% 12.96% 12,962 14,304 14,408 Last 5 Years 16.52% 15.19% 14.90% 21,473 20,274 20,017 Inception date is 29/12/1998. Mr. Harish Krishnan has been managing the fund since 01/01/2014 Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. Kotak Mahindra 50 unit scheme is renamed as Kotak Bluechip Fund with effect from 25th May 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 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 since 31st May Kotak India EQ Contra Fund - Growth Kotak India EQ Contra Kotak India EQ Contra Nifty 100 TRI# Nifty 50 TRI## Fund - Growth Fund - Growth Nifty 100 TRI# Nifty 50 TRI## Since Inception 13.01% 14.21% 13.90% 50,125 57,642 55,584 Last 1 Year 11.78% 11.17% 13.20% 11,178 11,117 11,320 Last 3 Years 13.45% 12.85% 12.69% 14,597 14,365 14,304 Last 5 Years 17.08% 16.15% 15.19% 21,991 21,127 20,274 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. ## Name of Additional. Kotak Classic Equity is renamed as Kotak India EQ Contra Fund with effect from 1st June 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 Index instead of Price Return Variant (PRI). Kotak Equity Opportunities Fund - Growth Kotak Equity Opportunities Kotak Equity Opportunities Fund - Growth Nifty 200 TRI# Nifty 50 TRI## Fund - Growth Nifty 200 TRI# Nifty 50 TRI## Since Inception 18.61% 15.70% 15.86% 1,10,188 77,674 79,236 Last 1 Year -0.13% 9.33% 13.20% 9,987 10,933 11,320 Last 3 Years 10.62% 12.65% 12.69% 13,531 14,290 14,304 Last 5 Years 18.36% 16.58% 15.19% 23,216 21,527 20,274 Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With the effect from 1st June 2018 Name is changed to Nifty 200 TRI from Nifty 500 TRI. The above performance is benchmarked to Nifty 200 TRI. Kotak Opportunities is renamed as Kotak Equity Opportunities Fund with effect from 1st June 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 Index instead of Price Return Variant (PRI). Kotak Standard Multicap Fund - Growth Kotak Standard Multicap Fund - Growth Nifty 200 TRI# Nifty 50 TRI## Kotak Standard Multicap Fund - Growth Nifty 200 TRI# Nifty 50 TRI## Since Inception 13.99% 11.04% 10.78% 32,720 25,806 25,252 Last 1 Year 4.42% 9.33% 13.20% 10,442 10,933 11,320 Last 3 Years 12.63% 12.65% 12.69% 14,284 14,290 14,304 Last 5 Years 21.17% 16.58% 15.19% 26,107 21,527 20,274 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. ## Name of Additional. Kotak Select Focus Fund is renamed as Kotak Standard Multicap Fund with effect from 25th May 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 Index instead of Price Return Variant (PRI). Kotak Tax Saver - Growth Kotak Tax Saver - Growth Nifty 500 TRI# Nifty 50 TRI## Kotak Tax Saver - Growth Nifty 500 TRI# Nifty 50 TRI## Since Inception 11.51% 12.85% 13.18% 40,579 47,321 49,133 Last 1 Year 2.37% 7.30% 13.20% 10,237 10,730 11,320 Last 3 Years 9.88% 12.51% 12.69% 13,262 14,236 14,304 Last 5 Years 19.28% 17.07% 15.19% 24,131 21,982 20,274 Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. 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 Index instead of Price Return Variant (PRI)

57 Kotak Small Cap Fund - Growth Kotak Small Cap Fund - Nifty Small Kotak Small Cap Fund - Nifty Small Growth Cap 50 TRI# Nifty 50 TRI## Growth Cap 50 TRI# Nifty 50 TRI## Since Inception 15.16% NA 14.52% 68,163 NA 63,187 Last 1 Year -6.45% % 13.20% 9,355 7,268 11,320 Last 3 Years 9.21% 1.48% 12.69% 13,022 10,451 14,304 Last 5 Years 23.59% 17.35% 15.19% 28,822 22,246 20,274 Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 25th May 2018, the is changed to Nifty Small Cap 50 TRI. Kotak Midcap is renamed as Kotak Small Cap Fund with effect from 25th May 2018 TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Emerging Equity - Growth Nifty Midcap 100# Kotak Emerging Equity - Growth Nifty 50 TRI## Kotak Emerging Equity - Growth Nifty Midcap 100 TRI# Nifty 50 TRI## Since Inception 11.66% 13.08% 10.88% 35,589 41,163 32,815 Last 1 Year -4.03% -4.32% 13.20% 9,597 9,568 11,320 Last 3 Years 11.00% 11.00% 12.69% 13,673 13,672 14,304 Last 5 Years 27.24% 21.02% 15.19% 33,332 25,951 20,274 Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 25th May 2018, the is changed to Nifty Midcap 100 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 Index instead of Price Return Variant (PRI). Kotak Infrastructure and Economic Reform Fund - Growth Kotak Infrastructure and India Infrastructure Index Nifty 50 TRI## Kotak Infrastructure and India Infrastructure Index Economic Reform Fund - Growth (Customised Index by IISL)# Economic Reform Fund - Growth (Customised Index by IISL)# Nifty 50 TRI## Since Inception 5.83% -0.39% 8.56% 18,225 9,597 23,880 Last 1 Year % -9.99% 13.20% 8,686 9,001 11,320 Last 3 Years 6.43% 5.10% 12.69% 12,053 11,609 14,304 Last 5 Years 20.21% 9.22% 15.19% 25,089 15,537 20,274 Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 01/02/2015. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 25th May 2018, the is changed to India Infrastructure Index (Customised Index by IISL) 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 Index instead of Price Return Variant (PRI). Kotak Equity Hybrid Kotak Equity Hybrid NIFTY 50 Hybrid Composite NIFTY 50 Hybrid Composite Debt 70:30 Index# Nifty 50 TRI## Kotak Equity Hybrid Debt 70:30 Index# Nifty 50 TRI## Since Inception 14.05% NA 13.06% 1,19,292 NA 1,01,196 Last 1 Year -0.08% 9.55% 13.20% 9,992 10,955 11,320 Last 3 Years 8.11% 10.91% 12.69% 12,632 13,638 14,304 Last 5 Years 12.17% 13.28% 15.19% 17,749 18,650 20,274 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. ## Name of Additional. With Effect from 25th May 2018, the is changed to Nfty 50 Hybrid Composite Debt 70:30 Index TRI. Kotak Balance is renamed as kotak Equity Hybrid with effect from 25th May 2018 TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the 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 Equity Arbitrage Fund - Growth Kotak Equity Arbitrage Nifty 50 Arbitrage Kotak Equity Arbitrage Nifty 50 TRI## Nifty 50 Arbitrage Fund - Growth Index# Fund - Growth Index# Nifty 50 TRI## Since Inception 7.51% NA 13.02% 25,639 NA 49,108 Last 1 Year 6.19% 4.43% 13.20% 10,619 10,443 11,320 Last 3 Years 6.29% 5.24% 12.69% 12,008 11,653 14,304 Last 5 Years 7.28% 6.62% 15.19% 14,205 13,776 20,274 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. ## Name of Additional. 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 Index instead of Price Return Variant (PRI)

58 Kotak Equity Savings Fund - Growth Kotak Equity Savings 75% NIFTY 50 ARBITRAGE Kotak Equity Savings 75% NIFTY 50 ARBITRAGE Nifty 50 TRI## Fund - Growth + 25% Nifty 50 TRI# Fund - Growth + 25% Nifty 50 TRI# Nifty 50 TRI## Since Inception 8.24% 7.14% 9.98% 13,684 13,140 14,576 Last 1 Year 6.20% 6.66% 13.20% 10,620 10,666 11,320 Last 3 Years 7.97% 7.19% 12.69% 12,583 12,315 14,304 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. 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. ## Name of Additional. 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 Index instead of Price Return Variant (PRI). Kotak Mahindra Liquid - Regular Plan - Growth Kotak Liquid - Regular Plan - NIFTY Liquid Index# Kotak Liquid - Regular Plan - CRISIL 1 CRISIL 1 Year TBill## NIFTY Liquid Index# Growth Growth Year TBill## Since Inception 7.44% 7.46% 5.93% 29,161 29,229 23,607 Last 1 Year 7.08% 7.00% 5.59% 10,708 10,700 10,559 Last 3 Years 7.21% 7.04% 6.33% 12,325 12,267 12,025 Last 5 Years 7.92% 7.78% 7.24% 14,639 14,550 14,184 Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to Nifty Liquid Fund Index from Crisil Liquid Fund. The above performance is benchmarked to Nifty Liquid Index The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Money Market - Growth Kotak Money Market NIFTY Money Kotak Money Market NIFTY Money - Growth Market Index# CRISIL 1 Year TBill## - Growth Market Index# CRISIL 1 Year TBill## Since Inception 7.36% 7.62% 5.91% 29,456 30,564 23,977 Last 1 Year 7.07% 6.72% 5.57% 10,707 10,672 10,557 Last 3 Years 7.27% 7.17% 6.33% 12,340 12,308 12,021 Last 5 Years 7.96% 8.01% 7.24% 14,666 14,694 14,178 Inception date is 14/07/2003. Mr. Deepak Agrawal has been managing the fund since 01/11/2006. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to Nifty Money Market Index from Crisil Liquid Fund. The above performance is benchmarked to NIFTY Money Market Index. Kotak Floater Short Term is renamed as Kotak Money Market with effect from 1st June 2018 The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Savings Fund - Growth Kotak Savings Fund - NIFTY Ultra Short Kotak Savings Fund - NIFTY Ultra Short CRISIL 1 Year TBill## CRISIL 1 Year TBill## Growth Duration Debt Index# Growth Duration Debt Index# Since Inception 7.74% 8.18% 6.03% 28,694 30,374 22,881 Last 1 Year 6.51% 7.25% 5.57% 10,651 10,725 10,557 Last 3 Years 7.29% 7.48% 6.33% 12,350 12,413 12,021 Last 5 Years 8.12% 8.26% 7.24% 14,769 14,866 14,178 Inception date is 13/08/2004. Mr. Deepak Agrawal has been managing the fund since 01/04/2008. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to NIFTY Ultra Short Duration Debt Index from Crisil Liquid Fund. The above performance is benchmarked to NIFTY Ultra Short Duration Debt Index. Kotak Treasury Advantage Fund is renamed as Kotak Savings Fund with effect from 1st June 2018 The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Banking and PSU Debt Fund - Growth Kotak Banking and PSU Debt CRISIL Banking and Fund - Growth PSU Debt Index# CRISIL 1 Year TBill## Kotak Banking and PSU Debt CRISIL Banking and Fund - Growth PSU Debt Index# CRISIL 1 Year TBill## Since Inception 7.26% NA 6.59% 39,923 NA 35,289 Last 1 Year 4.20% 4.68% 5.57% 10,420 10,468 10,557 Last 3 Years 7.12% 7.38% 6.33% 12,289 12,380 12,021 Last 5 Years 8.04% 9.02% 7.24% 14,720 15,395 14,178 Inception date is 29/12/1998. Mr. Deepak Agrawal has been managing the fund since 01/08/2008. 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. ## Name of Additional. With Effect from 1st June 2018, the is changed to CRISIL Banking and PSU Debt Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to CRISIL Banking and PSU Debt Index. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. 54

59 Kotak Duration Fund - Growth Kotak Duration Fund - Growth NIFTY Duration Debt Index# CRISIL 1 Year TBill## Kotak Duration Fund - Growth NIFTY Duration Debt Index# CRISIL 1 Year TBill## Since Inception 7.68% 8.49% 6.39% 21,868 23,653 19,245 Last 1 Year 6.49% 6.36% 5.57% 10,649 10,636 10,557 Last 3 Years 7.77% 7.27% 6.33% 12,515 12,342 12,021 Last 5 Years 8.39% 8.15% 7.24% 14,957 14,790 14,178 Inception date is 06/03/2008. Mr. Deepak Agrawal has been managing the fund since 01/02/2015. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to NIFTY Duration Debt Index from Crisil Liquid Fund. The above performance is benchmarked to NIFTY Duration Debt Index. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Bond Short Term Plan - Growth Kotak Bond Short Term Plan - NIFTY Short Duration Kotak Bond Short Term Plan - NIFTY Short Duration CRISIL 1 Year TBill## CRISIL 1 Year TBill## Growth Debt Index# Growth Debt Index# Since Inception 7.55% 7.76% 5.95% 33,050 34,127 25,817 Last 1 Year 4.02% 4.44% 5.57% 10,402 10,444 10,557 Last 3 Years 6.65% 7.03% 6.33% 12,130 12,259 12,021 Last 5 Years 7.83% 8.16% 7.24% 14,578 14,798 14,178 Inception date is 02/05/2002. Mr. Deepak Agrawal has been managing the fund since 11/07/2007. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to NIFTY Short Duration Debt Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to NIFTY Short Duration Debt Index. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Dynamic Bond Fund - Growth Kotak Dynamic Bond NIFTY Composite Kotak Dynamic Bond NIFTY Composite CRISIL 1 Year TBill## Fund - Growth Debt Index# Fund - Growth Debt Index# CRISIL 1 Year TBill## Since Inception 8.24% 7.90% 6.39% 22,682 21,958 18,975 Last 1 Year 3.53% 0.67% 5.57% 10,353 10,067 10,557 Last 3 Years 7.62% 6.17% 6.33% 12,462 11,965 12,021 Last 5 Years 8.51% 8.28% 7.24% 15,041 14,879 14,178 Inception date is 26/05/2008. Mr. Deepak Agrawal has been managing the fund since 25/11/2012. 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. ## Name of Additional. With Effect from 1st June 2018, the is changed to Nifty Composite Debt Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to NIFTY Composite Debt Index. Kotak Flexi Debt Fund is renamed as Kotak Dynamic Bond Fund with effect from 1st June 2018 The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Credit Risk Fund - Growth Kotak Credit Risk Fund - Growth CRISIL Composite AA CRISIL 1 Year TBill## Short Term Bond Index# Kotak Credit Risk Fund - Growth CRISIL Composite AA Short Term Bond Index# CRISIL 1 Year TBill## Since Inception 8.28% 8.85% 6.66% 19,484 20,376 17,170 Last 1 Year 4.85% 5.73% 5.57% 10,485 10,573 10,557 Last 3 Years 7.70% 8.19% 6.33% 12,488 12,662 12,021 Last 5 Years 8.70% 9.16% 7.24% 15,174 15,494 14,178 Inception date is 11/05/2010. Mr. Deepak Agrawal has been managing the fund since 12/04/2010. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to CRISIL Composite AA Short Term Bond Index from Crisil Short Term Bond Fund Index. The above performance is benchmarked to CRISIL Composite AA Short Term Bond Index. Kotak Income Opportunities Fund is renamed as Kotak Credit Risk Fund with effect from 1st June 2018 The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Corporate Bond Fund - Growth Kotak Corporate Bond Fund - Growth CRISIL Corporate Bond Fund Index# CRISIL 1 Year TBill## Kotak Corporate Bond Fund - Growth CRISIL Corporate Bond Fund Index# CRISIL 1 Year TBill## Since Inception 8.05% 9.19% 6.35% 23,488 26,357 19,720 Last 1 Year 5.99% 1.72% 5.57% 10,599 10,172 10,557 Last 3 Years 7.58% 7.25% 6.33% 12,448 12,333 12,021 Last 5 Years 8.43% 9.01% 7.24% 14,986 15,388 14,178 Inception date is 21/09/2007. Mr. Deepak Agrawal has been managing the fund since 01/02/2015. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to CRISIL Corporate Bond Fund Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to CRISIL Corporate Bond Fund Index. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. 55

60 Kotak Medium Term Fund - Regular Plan - Growth Kotak Medium Term Fund - Regular Plan - Growth NIFTY Medium Duration Debt Index# CRISIL 10 Year Gilt## Kotak Medium Term Fund - Regular Plan - Growth NIFTY Medium Duration Debt Index# CRISIL 10 Year Gilt## Since Inception 8.73% 8.16% 7.30% 14,608 14,259 13,757 Last 1 Year 4.06% 1.93% -2.99% 10,406 10,193 9,701 Last 3 Years 7.53% 6.64% 4.81% 12,431 12,125 11,513 Inception date is 21/03/2014. Mr. Deepak Agrawal has been managing the fund since 22/06/2015. 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. ## Name of Additional. With Effect from 1st June 2018, the is changed to NIFTY Medium Duration Debt Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to NIFTY Medium Duration Debt Index. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Bond - Regular Plan - Growth Kotak Bond - Regular NIFTY Medium to Long Kotak Bond - Regular NIFTY Medium to Long CRISIL 10 Year Gilt## CRISIL 10 Year Gilt## Plan - Growth Duration Debt Index# Plan - Growth Duration Debt Index# Since Inception 8.65% NA NA 47,794 NA NA Last 1 Year 0.04% -0.21% -2.99% 10,004 9,979 9,701 Last 3 Years 5.09% 5.88% 4.81% 11,603 11,869 11,513 Last 5 Years 7.52% 8.14% 6.96% 14,369 14,786 13,994 Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to Nifty Medium to Long Duration Debt Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to Nifty Medium to Long Duration Debt Index. Kotak Mahindra Bond Unit 99 is renamed as Kotak Bond with effect from 1st June The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Mahindra Gilt Unit 98 - Investment Paln - Regular - Growth Kotak Gilt - Investment - Regular - Growth NIFTY All Duration G-Sec Index# CRISIL 10 Year Gilt## Kotak Gilt - Investment - Regular - Growth NIFTY All Duration G-Sec Index# CRISIL 10 Year Gilt## Since Inception 9.37% NA NA 58,689 NA NA Last 1 Year -0.03% -0.23% -2.99% 9,997 9,977 9,701 Last 3 Years 5.96% 5.54% 4.81% 11,894 11,754 11,513 Last 5 Years 8.50% 7.81% 6.96% 15,032 14,560 13,994 Inception date is 29/12/1998. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to Nifty All Duration G-Sec Index from ISEC Composite Index. The above performance is benchmarked to Nifty all Duration G-sec Index. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Mahindra Gilt Unit 98 - Investment Paln - PF and Trust - Growth Kotak Gilt - Investment - PF NIFTY All Duration Kotak Gilt - Investment - PF NIFTY All Duration CRISIL 10 Year Gilt## and Trust - Growth G-Sec Index# and Trust - Growth G-Sec Index# CRISIL 10 Year Gilt## Since Inception 7.10% 5.28% 5.07% 27,759 21,521 20,895 Last 1 Year -0.03% -0.23% -2.99% 9,997 9,977 9,701 Last 3 Years 5.98% 5.54% 4.81% 11,902 11,754 11,513 Last 5 Years 8.54% 7.81% 6.96% 15,059 14,560 13,994 Inception date is 11/11/2003. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 1st June 2018, the is changed to Nifty All Duration G-Sec Index from ISEC Composite Index. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Debt Hybrid CRISIL Hybrid Conservative Index # Kotak Debt Hybrid CRISIL 10 Year Gilt## Kotak Debt Hybrid CRISIL Hybrid Conservative Index # CRISIL 10 Year Gilt## Since Inception 7.47% 8.04% 5.14% 29,106 31,475 21,042 Last 1 Year -0.38% 1.97% -2.99% 9,962 10,197 9,701 Last 3 Years 6.70% 7.61% 4.81% 12,147 12,457 11,513 Last 5 Years 9.99% 10.04% 6.96% 16,090 16,129 13,994 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. ## Name of Additional. With Effect from 25th May 2018, the is changed to Crisil Hybrid Conservative Index TRI. Kotak Monthly Income Plan is renamed as Kotak Debt Hybrid with effect from 25th May 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 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

61 Kotak Asset Allocator Fund - Growth Kotak Asset Allocator Fund - Growth NIFTY 50 Hybrid Composite Debt 50:50 Index # S&P BSE SENSEX TRI## Kotak Asset Allocator Fund - Growth NIFTY 50 Hybrid Composite Debt 50:50 Index # S&P BSE SENSEX TRI## Since Inception 15.54% 12.02% 15.98% 77,109 49,793 81,425 Last 1 Year 3.45% 7.06% 17.13% 10,345 10,706 11,713 Last 3 Years 8.42% 9.63% 12.96% 12,740 13,174 14,408 Last 5 Years 16.37% 11.93% 14.90% 21,329 17,562 20,017 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. ## Name of Additional. With Effect from 1st June 2018, the is changed to NIFTY 50 Hybrid Composite Debt 50:50 Index from Crisil Hybrid Aggressive Index. 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 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 US Equity Fund - Growth Kotak US Equity Fund - Growth S&P 500 International Total Return Net Index# Nifty 50 TRI## Kotak US Equity Fund - Growth S&P 500 International Total Return Net Index# Nifty 50 TRI## Since Inception 12.61% 16.47% 13.76% 17,630 20,708 18,508 Last 1 Year 24.41% 30.90% 13.20% 12,441 13,090 11,320 Last 3 Years 16.91% 21.38% 12.69% 15,972 17,873 14,304 Inception date is 20/12/2013. Mr. Deepak Gupta has been managing the fund since 01/02/2015. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. 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 Index instead of Price Return Variant (PRI). Kotak Global Emerging Market Fund - Growth Kotak Global Emerging Market Fund - Growth MSCI Emerging Market index# Nifty 50 TRI## Kotak Global Emerging Market Fund - Growth MSCI Emerging Market index# Nifty 50 TRI## Since Inception 4.59% 4.49% 8.76% 16,394 16,213 25,207 Last 1 Year 8.05% 7.55% 13.20% 10,805 10,755 11,320 Last 3 Years 9.28% 13.58% 12.69% 13,046 14,648 14,304 Last 5 Years 3.63% 4.21% 15.19% 11,948 12,288 20,274 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. 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. ## Name of Additional. 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 Index instead of Price Return Variant (PRI). Kotak World Gold Fund - Growth Kotak World Gold Fund - Financial Times Gold Mines Nifty 50 TRI## Kotak World Gold Fund - Financial Times Gold Mines Nifty 50 TRI## Growth Total - Price# Growth Total - Price# Since Inception -2.45% -2.80% 10.02% 7,739 7,462 26,786 Last 1 Year % % 13.20% 8,509 8,734 11,320 Last 3 Years 7.23% 16.28% 12.69% 12,327 15,714 14,304 Last 5 Years -4.36% -1.49% 15.19% 8,005 9,277 20,274 Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 01/02/2015. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. 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 Index instead of Price Return Variant (PRI). Kotak Gold ETF Kotak Gold Fund - Price of Gold# CRISIL 10 Year Gilt## Kotak Gold Fund - Growth Growth Price of Gold# CRISIL 10 Year Gilt## Since Inception 10.44% 11.74% 6.18% 30,366 34,591 19,556 Last 1 Year 1.07% 2.05% -2.99% 10,107 10,205 9,701 Last 3 Years 3.68% 4.79% 4.81% 11,144 11,505 11,513 Last 5 Years -0.82% 0.28% 6.96% 9,597 10,140 13,994 Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. With Effect from 25th May 2018, the is changed to Price of Gold, based on the formula prescribed by SEBI as per Gazette Notification dated December 20, 2006 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 Index instead of Price Return Variant (PRI). 57

62 Kotak Nifty ETF Kotak Nifty ETF Nifty 50# S&P BSE SENSEX TRI## Kotak Nifty ETF Nifty 50# S&P BSE SENSEX TRI## Since Inception 11.29% 11.47% 11.61% 25,209 25,564 25,836 Last 1 Year 13.03% 13.20% 17.13% 11,303 11,320 11,713 Last 3 Years 12.55% 12.69% 12.96% 14,254 14,304 14,408 Last 5 Years 15.07% 15.19% 14.90% 20,169 20,274 20,017 Inception date is 08/02/2010. Mr. Deepak Gupta has been managing the fund since 25/02/2011. 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. ## Name of Additional. 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 Index instead of Price Return Variant (PRI). Kotak Sensex ETF Kotak Sensex ETF S&P BSE SENSEX TRI# Nifty 50 TRI## Kotak Sensex ETF S&P BSE SENSEX TRI# Nifty 50 TRI## Since Inception 9.64% 10.12% 10.02% 25,835 27,037 26,786 Last 1 Year 16.78% 17.13% 13.20% 11,678 11,713 11,320 Last 3 Years 12.63% 12.96% 12.69% 14,282 14,408 14,304 Last 5 Years 14.49% 14.90% 15.19% 19,661 20,017 20,274 Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 25/02/2011. 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. ## Name of Additional. 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 Index instead of Price Return Variant (PRI). Kotak Banking ETF Kotak Banking ETF Nifty Bank TRI# Nifty 50 TRI## Kotak Banking ETF Nifty Bank TRI# Nifty 50 TRI## Since Inception 9.07% 9.25% 8.72% 13,911 13,997 13,743 Last 1 Year 4.65% 4.86% 13.20% 10,465 10,486 11,320 Last 3 Years 13.95% 14.20% 12.69% 14,790 14,889 14,304 Inception date is 10/12/2014. Mr. Deepak Gupta has been managing the fund since 24/11/2014. Different plans have different expense structure. The performance details provided herein are of regular plan ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. 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 Index instead of Price Return Variant (PRI). Kotak PSU Bank ETF Kotak PSU Bank ETF Nifty PSU Bank TRI# Nifty 50 TRI## Kotak PSU Bank ETF Nifty PSU Bank TRI# Nifty 50 TRI## Since Inception 0.97% 0.95% 7.43% 11,106 11,086 21,842 Last 1 Year % % 13.20% 8,844 8,877 11,320 Last 3 Years -4.46% -3.99% 12.69% 8,722 8,852 14,304 Last 5 Years 5.35% 5.78% 15.19% 12,978 13,244 20,274 Inception date is 08/11/2007. Mr. Deepak Gupta has been managing the fund since 25/02/2011. 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. ## Name of Additional. 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 Index instead of Price Return Variant (PRI). 58

63 ABOUT OUR FUND MANAGERS Name: Mr. Harsha Upadhyaya Mr. Harsha Upadhyaya manages 6 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Equity Opportunities Fund (Aug 4, 12), Kotak Standard Multicap Fund (Aug 4, 12), Kotak Tax Saver (Aug. 25,'15), Kotak India Growth Fund Series 4 (Feb14, 18), Kotak India Growth Fund Series 5 (May15, 18), Kotak India Growth Fund Series 7 (Aug 31, 18) Business Experience Mr. Harsha has nearly two decades of rich experience spread over Equity Research and Fund Management. His prior stints have been with companies such as DSP BlackRock, UTI Asset Management, Reliance Group and SG Asia Securities. Mr. Harsha is a Bachelor of Engineering (Mechanical) from National Institute of Technology, Suratkal, a Post Graduate in Management (Finance) from Indian Institute of Management, Lucknow and Chartered Financial Analyst from the CFA Institute. Names Kotak Standard Multicap Fund - Growth Kotak Tax Saver - Growth Kotak Equity Opportunities Fund - Growth Kotak India Growth Fund Series 4 Kotak India Growth Fund Series 5 Kotak India Growth Fund Series 7 Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Kotak Bluechip Fund - Dividend (Erstwhile Kotak 50), *Name of the - Nifty 50 TRI, Inception date is 29/12/1998. Mr. Harish Krishnan has been managing the fund since 15/11/2013. Kotak Infrastructure and Economic Reform Fund - Growth, *Name of the - India Infrastructure Index (Customised Index by IISL), Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 31/01/2015. 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 Index instead of Price Return Variant (PRI). For Kotak Bluechip 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 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Kotak Standard Multicap Fund - Growth (Erstwhile Kotak Select Focus Fund), *Name of the - Nifty 200 TRI, Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Kotak Tax Saver - Growth, *Name of the - Nifty 500 TRI, Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015. Kotak Equity Opportunities Fund - Growth (Erstwhile Kotak Opportunities), *Name of the - Nifty 200 TRI, Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. 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 Index instead of Price Return Variant (PRI). Name: Mr. Harish Krishnan Mr. Harish Krishnan manages 4 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Bluechip Fund (Jan 01, 14), Kotak Infrastructure & Economic Reform Fund (Jan31,'15), Kotak India Growth Fund Series 5 (May15, 18), Kotak Balanced Advantage Fund (July13, 18) Business Experience Mr. Harish has a decade of experience spread over Equity Research and Fund Management. Prior to joining Kotak Mutual Fund, he was based out of Singapore and Dubai, managing Kotak's offshore funds. Mr. Harish has also worked at Infosys Technologies Ltd in his earlier stint. He is a Bachelor of Technology (Electronics & Communications) from Government Engineering College, Trichur, a post Graduate in Management from Indian Institute of Management, Kozhikode and a Chartered Financial Analyst from the CFA Institute. Names Kotak Bluechip Fund - Dividend Kotak Infrastructure and Economic Reform Fund - Growth Kotak India Growth Fund Series 5 Kotak Balanced Advantage Fund Since KIG4, KIG5 & KIG7 has not yet completed 1 year from inception, the performance of the scheme is not being disclosed. Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Since KIG 5 & Kotak Balanced Advantage Fund has not yet completed 1 year from inception, the performance of the scheme is not being disclosed. Name: Mr. Pankaj Tibrewal Mr. Pankaj Tibrewal manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Small Cap Fund (Jan. 21, 10), Kotak Emerging Equity (May 27,'10), Kotak Equity Hybrid (Aug. 25,'15) Business Experience Mr. Pankaj is a graduate in Commerce from St. Xavier's College, Kolkata and holds a Master's degree in Finance from Manchester University. He has been associated with the mutual fund industry since 2003 where he has managed several debt and equity schemes. He has been a part of the organization since January Mr. Pankaj's earlier stint was with Principal Mutual Fund. Names Kotak Equity Hybrid - Dividend Kotak Emerging Equity - Growth Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ NA Returns (%)^* Kotak Small Cap Fund - Growth NA Kotak Equity Hybrid - Dividend (Erstwhile Kotak Balance), *Name of the - NIFTY 50 Hybrid Composite Debt 70:30 Index, Inception date is 25/11/1999. Mr. Pankaj Tibrewal has been managing the fund since 25/08/2015. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Kotak Emerging Equity - Growth, *Name of the - Nifty Midcap 100 TRI, Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010. Kotak Smallcap Fund - Growth (Erstwhile Kotak Midcap), *Name of the - NIFTY Smallcap 50 TRI, Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010. 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 Index instead of Price Return Variant (PRI). For Kotak Equity Hybrid: 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 Name: Mr. Deepak Gupta Mr. Deepak Gupta manages 14 funds and all Kotak Capital Protection Oriented series all of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular 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 Equity Hybrid (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), Kotak Balanced Advantage Fund (July13, 18) Business Experience Mr. 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. Top 3 Bottom 3 Names Kotak NV20 ETF Kotak US Equity Fund - Growth Kotak Sensex ETF Kotak Asset Allocator Fund - Growth Kotak PSU Bank ETF Kotak World Gold Fund - Growth Kotak Balanced Advantage Fund Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* NA NA NA NA NA NA Since Kotak Balanced Advantage Fund has not yet completed 1 year from inception, the performance of the scheme is not being disclosed

64 Kotak NV20 ETF - *Name of the Nifty 50 Value 20 TRI, Inception date is 01/12/2015. Mr. Deepak Gupta has been managing the fund since 08/12/2015. Kotak US Equity Fund - Growth, *Name of the - S&P 500 International Total Return Net Index, Inception date is 20/12/2013. Mr. Deepak Gupta has been managing the fund since 01/02/2015. Kotak Sensex ETF, *Name of the - S&P BSE SENSEX TRI, Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 25/02/2011. Kotak Asset Allocator Fund - Growth, *Name of the - NIFTY 50 Hybrid Composite Debt 50:50 Index, Inception date is 09/08/2004. Mr. Deepak Gupta has been managing the fund since 01/09/2008. Kotak PSU Bank ETF, *Name of the - Nifty PSU Bank TRI, 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 - Financial Times Gold Mines Total - Price, 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 Index instead of Price Return Variant (PRI). Name: Mr. Abhishek Bisen Mr. Abhishek Bisen manages 10 funds and all Kotak Capital Protection Oriented series of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Balance (Apr. 15, 2008), Kotak Debt Hybrid (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), Kotak Balanced Advantage Fund (July13, 18) Business Experience Mr. Abhishek has been associated with the company since October 2006 and his key responsibilities include fund management of debt schemes. Prior to joining Kotak AMC, 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 ly Commended Investors in Indian Rupees Bonds from the Asset magazine Hong Kong. His educational background is B.A (Management) and MBA (Finance). Top 3 Bottom 3 Names Kotak Global Emerging Market Fund - Growth Kotak Equity Savings Fund - Growth Kotak Gold Fund - Growth Kotak Gilt - Investment - Regular - Growth Kotak Equity Hybrid - Dividend Kotak Debt Hybrid - Growth Kotak Balanced Advantage Fund Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* NA NA NA NA Since Kotak Balanced Advantage Fund has not yet completed 1 year from inception, the performance of the scheme is not being disclosed. Kotak Global Emerging Market Fund - Growth, *Name of the - MSCI Emerging Market index, 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 Equity Savings Fund - Growth, *Name of the - 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 TRI, 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 Gold Fund - Growth, *Name of the - Price of Gold, Inception date is 25/03/2011. Mr. Abhishek Bisen has been managing the fund since 04/03/2011. Kotak Gilt - Investment - Regular - Growth, *Name of the -NIFTY All Duration G-Sec Index, Inception date is 29/12/1998. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Kotak Equity Hybrid - Dividend (Erstwhile Kotak Balance), *Name of the - NIFTY 50 Hybrid Composite Debt 70:30 Index, 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 Debt Hybrid - Growth (Erstwhile Kotak Monthly Income Plan), *Name of the - CRISIL Hybrid Conservative Index, 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 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 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 plan. (Kotak Bond Short Term (Apr. 14, 08), Flexi Debt Fund (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 ) (Jul. 11, 07), Kotak Income Opportunities Fund (May 11, '10), Kotak Medium Term Fund (Mar. 21, 14), Kotak 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 Mr. Deepak is a Post Graduate in Commerce, Chartered Account and Company Secretary. Top 3 Bottom 3 Names Kotak Liquid - Regular Plan - Growth Kotak Money Market - Growth Kotak Savings Fund - Growth Kotak Medium Term Fund - Regular Plan - Growth Kotak Bond Short Term Plan - Growth Kotak Dynamic Bond Fund - Growth Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* NA NA Kotak Liquid - Regular Plan - Growth, *Name of the - NIFTY Liquid Index, Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007. Kotak Money Market - Growth (Erstwhile Floater - Short Term), *Name of the - NIFTY Money Market Index, Inception date is 14/07/2003. Mr. Deepak Agrawal has been managing the fund since 01/11/2006. Kotak Savings Fund - Growth (Erstwhile Kotak Treasury Advantage Fund), *Name of the - NIFTY Ultra Short Duration Debt Index, Inception date is 13/08/2004. Mr. Deepak Agrawal has been managing the fund since 01/04/2008. Kotak Medium Term Fund - Regular Plan - Growth, *Name of the - NIFTY Medium Duration Debt Index, Inception date is 21/03/2014. Mr. Deepak Agrawal has been managing the fund since 22/06/2015. Kotak Bond Short Term Plan - Growth, *Name of the -NIFTY Short Duration Debt Index, Inception date is 02/05/2002. Mr. Deepak Agrawal has been managing the fund since 11/07/2007. Kotak Dynamic Bond Fund - Growth (Erstwhile Flexi Debt Fund), *Name of the - Nifty Composite Debt Index, Inception date is 26/05/2008. Mr. Deepak Agrawal has been managing the fund since 25/11/2012. We are comparing the performances of the funds with the total return Index(TRI) Name: Mr. Devender Singhal Mr. Devender Singhal manages 2 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Debt Hybrid - Growth (Aug. 25, 15), Kotak India Growth Fund Series 5 (May15, 18). Business Experience Mr. Devender has been associated with the Kotak Group since July He is responsible for the research coverage of FMCG, Automobiles and Media sectors at Kotak AMC since Feb 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. Names Kotak Debt Hybrid - Growth Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak India Growth Fund Series 5 Since KIG 5 has not yet completed 1 year from inception, the performance of the scheme is not being disclosed. Kotak Debt Hybrid - Growth (Erstwhile Kotak Monthly Income Plan), *Name of the - CRISIL Hybrid Conservative Index, 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 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

65 DIVIDEND HISTORY Equity s Kotak Equity Arbitrage Fund - Monthly Dividend Option Sep Aug Jul Kotak Equity Arbitrage Fund - Fortnightly Dividend Option Sep Sep Aug Kotak Equity Arbitrage Fund - Bimonthly Dividend Sep Jul May Kotak Bluechip Fund (Erstwhile Kotak Mahindra 50 Unit ) - Dividend Mar Jun Dec Kotak India EQ Contra Fund (Erstwhile Kotak Classic Equity) Mar Jul Jul Kotak Standard Multicap Fund (Erstwhile Kotak Select Focus) Sep Sep Sep Kotak Equity Saving Fund - Monthly Dividend Option Sep Aug July Kotak Equity Saving Fund - Quarterly Dividend Sep June Mar Kotak Infrastructure and Economic Reform Feb Feb Hybrid s Kotak Equity Hybrid (Erstwhile Kotak Balance) Sep Aug July Kotak Equity Opportunities Fund (Erstwhile Kotak Opportunities) Sep May Feb Kotak Small Cap Fund (Erstwhile Kotak Midcap) Feb Feb Feb Kotak Tax Saver Sep June Mar Kotak Emerging Equity Mar May May Kotak Asset Allocator Fund (Erstwhile Kotak Equity FOF) Aug Individual/ HUF: Others: Kotak Debt Hybrid (Erstwhile Kotak MIP) - Monthly Dividend Sep Individual/ HUF: Others: Aug Individual/ HUF: Others: July Individual/ HUF: Others: Kotak Debt Hybrid (Erstwhile Kotak MIP) - Quarterly Dividend Sep Individual/ HUF: Others: June Individual/ HUF: Others: Mar Individual/ HUF: Others: ETF s Kotak PSU Bank ETF Mar Nov Kotak SENSEX ETF Mar Nov Kotak Nifty ETF Mar May Nov

66 Debt s Kotak Bond Regular Plan - Quarterly Dividend Option Kotak Bond Regular Plan - Annual Dividend Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Kotak Bond Short Term - Monthly Dividend Sep Individual/ HUF: Others: Aug Individual/ HUF: Others: July Individual/ HUF: Others: Kotak Bond Short Term - Half Yearly Dividend Sep Individual/ HUF: Others: Mar Individual/ HUF: Others: Sep Individual/ HUF: Others: Kotak Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) - Annual Dividend Sep Individual/ HUF: Others: Jun Individual/ HUF: Others: Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Kotak Dynamic Bond Fund (Erstwhile Kotak Flexi Debt Fund) - Monthly Dividend Aug Individual/ HUF: Others: Jul Individual/ HUF: Others: Apr Individual/ HUF: Others: Kotak Dynamic Bond Fund (Erstwhile Kotak Flexi Debt Fund) - Quarterly Dividend Sep Individual/ HUF: Others: June Individual/ HUF: Others: Mar Individual/ HUF: Others: Kotak Corporate Bond Fund - Regular Plan Monthly Dividend Sep Individual/ HUF: Others: Aug Individual/ HUF: Others: July Individual/ HUF: Others: Kotak Corporate Bond Fund - Regular Quarterly Dividend Jun Individual/ HUF: Others: Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Kotak Gilt Investment Regular Plan - Quarterly Dividend Jun Individual/ HUF: Others: Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Kotak Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) - Monthly Dividend Sep Individual/ HUF: Others: Aug Individual/ HUF: Others: July Individual/ HUF: Others: Kotak Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) - Quarterly Dividend Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Sep Individual/ HUF: Others: Kotak Savings Fund (Erstwhile Kotak Treasury Advantage Fund) - Monthly Dividend Sep Individual/ HUF: Others: Aug Individual/ HUF: Others: July Individual/ HUF: Others: Kotak Money Market (Erstwhile Kotak Floater Short Term ) - Monthly Dividend Sep Individual/ HUF: Others: Aug Individual/ HUF: Others: July Individual/ HUF: Others:

67 Debt s Kotak Banking and PSU Debt Fund - Annual Dividend Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Kotak Banking and PSU Debt Fund - Monthly Dividend Sep Individual/ HUF: Others: Aug Individual/ HUF: Others: July Individual/ HUF: Others: Kotak Duration Fund - Regular Plan Monthly Dividend Sep Individual/ HUF: Others: Aug Individual/ HUF: Others: July Individual/ HUF: Others: Kotak Medium Term Fund - Quarterly Dividend Sep Individual/ HUF: Others: June Individual/ HUF: Others: Mar Individual/ HUF: Others: Kotak Gilt Investment PF and Trust Plan - Quarterly Dividend Sep Individual/ HUF: Others: June Individual/ HUF: Others: Mar Kotak Medium Term Fund - Annual Dividend Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: There is no assurance or guarantee to Unit holders as to rate/quantum of dividend distribution nor that the dividends will be paid regularly. After payment of the dividend, the per Unit NAV falls to the extent of the payout and statutory levy, if any. Dividend frequency is as per Trustee's discretion. 63

68 Agra: Ahmedabad: / Ajmer: Aligarh: Allahabad: Ambala: /71 Amritsar: / Anand: Aurangabad: Bangalore: / 51 Belgaum Bareilly: Bhavnagar: Bhilai: Bhopal: Bhubaneshwar: / Bhuj: Calicut: Chandigarh: / Chennai: / Cochin: / Coimbatore: Cuttack: / Dehradun: / Dhanbad: / Durgapur: / Goa: Gwalior: RISK FACTORS 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 has made. The ratings should, however, not be construed as an indication of expected returns, prospective performance of the Mutual Fund, 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. How to read Fact Sheet Fund Manager An employee of the asset management company such as mutual fund or life insurer, who manages investments of the scheme. He is usually part of larger team of fund managers and research analysts. Application amount for fresh subscription This is the minimum investment amount for a new investor in a mutual fund scheme Minimum Additional Amount This is the minimum investment amount for an existing investor in a mutual fund scheme Yield to Maturity The yield to maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond s current market price, par value, couple interest rate and time to maturity SIP SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years. NAV The NAV or net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which investors enter or exit the mutual fund A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmark include the Nifty, Sensex, BSE 200, BSE 500, 10-year Gsec Entry Load A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor /agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs 100 and the entry load is 1%, the investor will enter the fund at Rs 101. Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit load Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is RS 100and an exit load is 1%, the redemption price would be Rs. 99 per unit Modified Duration Modified duration is the price sensitivity and the percentage change in price for a unit change in yield. Standard deviation Standard deviation is statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, it means its range of performance is wide, implying greater volatility. Sharp Ratio The Sharpe Ratio, named after its founder the Noble laureate William Sharpe, is measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta Beta is a measure of an investment s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security s price will be more volatile than the market. AUM AUM or assets under management refers to the recent / updated cumulative market value of investments managed by Mutual fund or any investment firm. Holdings The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager. Nature of The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories. Rating Profile Mutual funds invest in securities after evaluating their credit worthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their rating becomes the rating profile of the fund. Typically, this is a feature of debt funds. Contact Details Gorakpur: / Gurgaon: /26 Guwahati: Hubli: Hyderabad: / 41/ 42 Indore: Jabalpur: Jaipur: Jalandhar: / Jalgaon: / 32 Jammu: Jamnagar: Jamshedpur: / / Jodhpur: Kanpur: / Kolhapur: / 91 Kolkata: / 12/ 13/ 14 Kottayam: Lucknow: / Ludhiana: / Mangalore: Meerut: Mumbai: Mumbai: (Thane): / 186 Muradabad: Mysore: Nagpur: /8577 Nashik: New Delhi: /61 Panipat: Patiala: Patna: Pondicherry: Pune: /12/13 Raipur: Rajkot: Ranchi: / / Rourkela: / Rohtak Saharanpur Salem: Shimla: / Silliguri: Surat: / Trichur: Trichy: Trivandrum: / Udaipur: Vadodara: / / Vapi: / Varanasi: Vijayawada: Vishakapatnam: For details contact us at: KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED: 6th Floor, Kotak Infiniti, Building No. 21, Infinity Park, Off Western Express way, Gen. A. K. Vaidya Marg, Malad (East), Mumbai Tel.: Fax: mutual@kotak.com Website: Corporate Office of Asset Management Company: 2nd Floor, 12-BKC, Plot No C-12, G Block, BKC, Bandra (East),Mumbai

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