September 30,

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2 Dear Friends, Indian equity markets witnessed a fair degree of volatility in the month of September. The events that the market focused on included (1) The Prime Minister s visit to the USA (2) The Supreme Court s decision to de-allocate 214 of 218 coal blocks, illegally allocated post 1993 and (3) Splits in two major political alliances in Maharashtra and resignation of the Maharashtra Chief Minister. The benchmark Nifty Index (large cap) ended the month up by a marginal 0.13% while the CNX Midcap Index was up with gains of 2.73%. During the month, FIIs inflows were to the tune of USD 845 mn in the equity markets. On a cumulative basis (CYTD), net FII flows into equities stood at USD 13.8 bn while net FII inflows into debt stood at USD 19.6 bn. FII investment in debt in the current fiscal year is in sharp contrast to the outflow of USD 8 bn seen in RBI has been gradually liberalising the foreign investment limit into debt (corporate bonds and Government securities) and this limit currently stands at USD 81 bn on an overall basis. The new Government s policy intent is positive for the Indian economy. The economy is now at the cusp of a revival and a lot is dependent on the pace of execution by the new Government. The Government of India has also announced its ambitious project Make in India. The Make in India program includes major new initiatives designed to facilitate investment, foster innovation, protect intellectual property and build best-in-class manufacturing infrastructure. The process of doing business in India will likely be simplified to facilitate these initiatives. The Union Government over the last few months seems focussed on improving governance, pushing for financial inclusion, a clean India, inter-ministerial and Centre State collaboration, and foreign policy. Coal block de-allocation by Supreme Court had many Implications. While it is difficult to quantify the exact impact of the coal block de-allocation, We believe that the economy as a whole, May see limited disruption in production from the 40 coal mines already in production. However the approval process for the balance mines would get stalled and their lead time to get into production may increase over a period of time. RBI left key policy rates unchanged at its bi-monthly policy review. The medium term focus of RBI remains to bring down the SLR requirements for banks especially as central government finances improve (with the SLR being consistent with the appropriate levels of liquidity and inflation). With the Government appearing to be committed towards meeting the fiscal deficit target, G-Sec yields are expected to stay largely stable with the 10 year paper trading in the band of %. We do not expect RBI to cut policy rates in CY14. If the likely inflation trajectory is in line with RBI s target of reaching 6% by January 2016, a rate cut is possible in the first half of CY15 which would be supportive of yields. The good news is that monsoon deficiency at the end of the season stood at 12% of the Long Period Average (LPA) which bodes well for food inflation. The S&P revised its India sovereign ratings outlook to stable from negative with a view that the improved political setting would provide for a conductive atmosphere for reforms and hence would uplift growth and correct the fiscal gap. The S&P had cut India's outlook to "negative" in April The change in outlook to stable follows in the footsteps of other rating agencies which had already done the same earlier. Wishing you Seasons Greetings, Equity Market View During the month, the key benchmark indices S&P BSE Sensex and CNX Nifty remained largely flat at -0.02% and 0.13% respectively. The lackluster performance was attributable to profit-booking at higher levels. However, the midcap segment (CNX Midcap) fared better with gains of 2.74% during the month. The top three outperforming sectors during the month were Pharma, Consumer Durables and Media with the respective performance of 7.59%, 7.30%, and 7.15%. On the downside, the bottom three underperforming sectors during the month were Realty, Metal and Capital Goods with the respective performance of -8.46%, -6.98% and -4.33%. Other News RBI kept repo rates unchanged in its monetary policy: The RBI kept repo rates unchanged at 8% in its monetary policy review. Also the SLR was kept the same at 22%. India s fiscal deficit at 75% of FY15 estimate: Fiscal deficit in first five months stood at 75% of the budgeted estimate for FY15 which is in levels as that of last year. Government has cut the borrowing target for FY15 by Rs.80bn: The borrowing target has been reduced by Rs.80 bn as revenue picks up due to economic recovery and in anticipation of asset sale program. Core sector growth came in at 5.8% for August against 4.7% previous year: Growth in the coal output was up 13.4 percent against 6.2 percent month-on-month. The government April-August core industries growth came in at 4.4 percent year-on-year. India receives 11% below average rainfall upto 24th September: As per IMD data, India received 11% below rainfall on cumulative basis from 1st June-to 24th September. Out of the 36 sub divisions, 25 received normal rainfall whereas 10 received deficient rainfall. India s August trade deficit stood at $10.8bn: India s trade deficit stood at $10.8bnwhich was higher than $10.7 bn a year earlier with exports rising 2.4% and imports growing 2.1%. India HSBC service PMI fell to 50.6 and manufacturing PMI fell to 52.4 in August: India's HSBC service PMI fell to 50.6 in August from 52.2 in July and manufacturing PMI fell to 52.4 from 53.0 in July. August WPI at 3.7% and CPI at 7.8%: The wholesale price index (WPI) declined to 3.7% in July (lowest since Oct 09) against 5.2% previous month. CPI also fell to 7.8% inaugust against 7.9% in the July. Regards, Alroy Lobo Chief Strategist and Global Head EquitiesAsset Management Kotak Mutual Fund Mutual Fund investments are subject to market risks, read all scheme related documents carefully. July IIP comes at 0.5%: The Index of Industrial Production (IIP) slipped to 0.5% as compared to 3.9% in the previous month (which was revised higher from 3.4%). Money supply growth: Money supply (M3) growth decreased from 13.3% in July to 13.2% inaugust. Source: Kotak MF Internal Research 1

3 Outlook The long term outlook continues to remain positive for Indian equities. The corporate earnings growth trajectory has improved quite substantially, and is expected to maintain upward momentum going forward. Sharp fall in prices of global commodities, especially crude oil augurs very well for domestic economy. It will also aid in bringing down inflation to desired levels. In the short term, the market is expected to take cues from upcoming quarterly earnings season and global market moves. Items Debt Market View Sept-14 Reverse Repo 7.00% Repo 8.00% CRR 4.00% SLR 22.00% Mibor Overnight 6.19% Call(O/N) 8.09% CBLO 7.66% 1 yr T Bill 8.63% 10 G Sec 8.66% USD/INR Source: RBI; Icraonline. Aug % 8.00% 4.00% 22.00% 7.97% 7.87% 7.74% 8.68% 8.56% Change Nil Nil Nil Nil -178 bps 22 bps -8 bps -5 bps 10 bps 1.14 Inflation The inflation trajectory continues to be on the downward trend. The WPI index declined steeply and was at 3.7% yoy for Aug-14. The growth in the similar period in CPI index was at 7.80% yoy. 3.70% 7.00% Source: Mospi 3.90% 13.60% 4.50% Inflation Position 12.70% 3.50% WPI Primary Fuel MFG Core WPI Inflation Aug -14 Aug % 5.20% 3.50% 2.30% 2.30% 7.80% 9.52% Food Inflation CPI Inflation The core WPI inflation posted a growth of 3.5% and is showing signs of rising purchasing power in the manufacturing sector. The core CPI inflation has moderated sharply to 6.89% yoy. The index for fuel & power group rose by 4.5% yoy. This decline is attributable to the pass through of the price decline in the international crude oil rates. The WPI index for manufacturing products group rose by 3.5% yoy in the same period. The CPI inflation is being pushed up by inflation in fruits, vegetables and milk products. The year-on-year growth rate in these segments was at 24.27%, 15.15% and 11.70%, respectively. The moderating growth in pulses, fats, sugar, non-alcoholic beverages helped moderate the index on month on month basis. We believe we are on track of softening inflation. Monsoon progress is much better than expected sometime back and govt can take care of supply bottlenecks if any. IIP July month IIP was up by 0.5% as compared to the level in the month of July The cumulative growth for the period of April-July over the corresponding period of the previous year stands at 3.3%. The growth rate in the mining, manufacturing and electricity sectors for July- was at 2.1%, -1.0% and 11.7% respectively as compared to July The cumulative growth in the three sectors during April-July period over the corresponding period last year has been 2.8%, 2.3% and 11.4% respectively. As per Use-based classification, the growth rates in July over July 2013 are 7.6% in Basic goods, -3.8% in Capital goods and 2.6% in Intermediate goods. The Consumer durables and Consumer nondurables have recorded growth of -20.9% and 2.9% respectively, with the overall growth in Consumer goods being -7.4%. Outlook The policy was on expected lines. For now, managing the inflationary pressure seems to be the primary policy impetus. With oil prices declining and Rupee remaining stable, inflation seems to be on the downward trend. However, the base-effect and erratic monsoon impact is expected to cause uptick in CPI inflation during the Nov-Jan period. Moreover, the US Fed also seems to be on a path of reversing its policy stance. Infact, there is a likelihood that US fed may give a rate hike by around June-Sept 15 period. This has a potentially disruptive consequence for the forex inflows; and would weigh down the Rupee. The sum-product of these issues may be reining back RBI from giving a more accommodative policy. Going forward, we believe that we are in for gradual decline in the CPI numbers. The RBI target could well be achieved before time. Systemic liquidity is comfortable and it could improve further. Demand for sovereign bonds is likely to outstrip supply. India remains one of the most attractive destination for FIIs. The sovereign limits are near full and corporate bonds limits are likely to see utilization. With gradual decline in the CPI trend, we could see gsec rates coming off followed by corporate bonds. Gold Corner For the month, spot gold closed at $1210 per ounce, down $ per ounce or 6%. During the month the metal continued to struggle near an eight-month low due to weak physical demand, dollar strength and fears the Federal Reserve may signal an early interest rate increase at its policy meeting. In the month, gold futures tumbled to the lowest since June as U.S. manufacturing inaugust expanded at the fastest pace in three years, boosting prospects for the economy and curbing demand for the metal. The decline in the gold prices during the month was also due to reducing tensions between Ukraine and Russian as Ukraine and pro-russian rebels agreed on a ceasefire. This is seen as the first step towards ending a conflict in eastern Ukraine. In September the US dollar jumped to the highest since January against a basket of 10 currencies. Find below the YTD movement for Gold vs. US dollar Jan-14 Jan-14 Feb-14 Gold USD (L.H.S.) Feb-14 Mar-14 Mar-14 Apr-14 Apr-14 May-14 May-14 Jun-14 Dollar Index (R.H.S.) Source: Bloomberg Gold coin sales out of the Perth Mint, Australia s largest gold refiner, rose to 68,781 ounces in September, the highest level since October of last year. The increase in buying comes primarily from Asian buyers, who account for 80 percent of Perth Mint s sales. This trend of increasing gold coin sales is playing out in the United States as well, where September sales roughly doubled to 58,000 ounces from August. Despite weak Indian gold imports in the first half of the year, demand in the second half is expected to be stronger due to the majority of the Indian holiday season falling during this time period. Gold demand in China is still on the rise. In the past four weeks, withdrawals from the Shanghai Gold Exchange amounted to over 170 tonnes. The increasing purchases out of China and the rest of Asia underline the resilience of gold demand as prices have pulled back. ( Source: tradingnrg.com and usfunds.com) Jun-14 Jul-14 Jul-14 Jul-14 Aug-14 Aug-14 Sep-14 Sep

4 Name KOTAK 50 An Open - Ended Equity EQUITY FUNDS KOTAK CLASSIC EQUITY (As on ) An Open - Ended Equity Growth Amount Inception as on To generate capital appreciation from a portfolio of predominantly equity and equity related securities. The portfolio will generally comprise of equity and equity related instruments of around 50 companies which may go up to 59 companies but will not exceed 59 at any point in time. : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Trustee s Discretion Mr. Harish Krishnan Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment: 1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the respective. (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re. 1 Ideal s Horizon: 3 years & above AAUM as on : A) NonDirect Plan: B) Direct Plan: 6.72 Ratios: Turnover: % Beta*: 0.89 Sharpe*: 0.66 Alpha*: 1.01 Standard Deviation*: *Source: Value Research CNX Nifty Index December 29,1998 Kotak 50 - dividend 30, Kotak 50 NAV as on : Rs (Dividend Option), Rs (Direct Dividend Option), Rs (Growth Option), Rs (Direct Growth Option) N.A stands for data not available. Note: Point to Point (PTP) in INR show the value ofrs. 10,000/- investment made at inception. Source: ICRAMFI Explorer # Name of. ## Name of. ^ Past performance may or may notbe sustained inthe future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year: Absolute; > 1 year: CAGR (Compounded 44.90% Listed/Awaiting Listing on Stock Exchange - Total 98.14% Total %age of existing assets non hedged through futures 0.78% Term Deposits - Total 0.59% Collateral Borrowing & Lending obligation 1.26% Net Current Assets/(Liabilities) -0.77% Long term capital growth in portfolio of predominantly equity & equity related securities High risk (Brown) Infosys Ltd. HDFC Bank Ltd. ICICI Bank Ltd. Tata Consultancy Services Ltd. Reliance Industries Ltd. Larsen And Toubro Ltd. ITC Ltd. Tata Motors Ltd. Maruti Suzuki India Limited HDFC Ltd. CNX Nifty S&P BSE Sensex # Construction Project # ## Term Deposit as provided above is towards margin for derivatives transactions 7.33% 7.32% 7.25% 6.29% 5.52% 4.76% 4.12% 3.93% 3.67% 3.05% high risk To generate capital appreciation from a diversified portfolio of equity and equity related securities. : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Trustee s Discretion Mr. Emmanuel Elango Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the respective. (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re. 1 Ideal s Horizon: 3 years & above AAUM as on : A) NonDirect Plan: B) Direct Plan: 1.22 Ratios: Turnover: %. Beta*: 0.83 Sharpe*: 0.87 Alpha*: 4.10 Standard Deviation*: *Source: Value Research. CNX 500 Index July 27, 2005 Kotak Classic Equity - Growth 30, Kotak Classic Equity NAV as on : Rs (Dividend Option), Rs (Growth Option), Rs (Direct Growth Option), Rs (Direct Dividend Option) N.A stands for data not available. Note: Point to Point (PTP) in INR show the value of Rs. 10,000/- investment made at inception. Source: ICRAMFI Explorer # Name of. ## Name of. ^ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year:absolute; > 1 year: CAGR (Compounded 57.71% Listed/Awaiting Listing on Stock Exchange - Total 95.42% Total %age of existing assets non hedged through futures 3.05% Term Deposits - Total 0.51% Collateral Borrowing & Lending obligation 3.39% Net Current Assets/(Liabilities) -2.37% Term Deposit as provided above is towards margin for derivatives transactions For the month ended 30th September, other than hedging transactions through futures which have been squared off/expired are as follows; Total Number of contracts where futures were bought 135, Total number of contracts where futures were sold 185, Gross Notional value of contracts where futures were bought Rs lacs, Gross Notional value of contracts where futures were sold Rs lacs and Net profit/(loss) value on all these contracts combined Rs. (38.95) lacs For the month ended 30th September, other than hedging transactions through options which have already been exercised/expired are as follows; Total number of contracts entered into were 1060, Gross Notional Value of contracts is Rs lacs and Net Profit/(Loss) on all contracts is Rs. (17.91) lacs. Long term capital growth in portfolio of predominantly equity & equity related securities High risk (Brown) CNX 500 CNX Nifty # # ## Issuer/Instrument Industry/Rating % to Net Assets ICICI Bank Ltd. Infosys Ltd. HDFC Bank Ltd. Larsen And Toubro Ltd. Construction Project Tech Mahindra Ltd. Sun Industries Ltd. Amara Raja Batteries Ltd. Ancillaries State Bank Of India Maruti Suzuki India Limited ITC Ltd. 7.29% 5.35% 4.93% 4.57% 3.24% 2.49% 2.48% 2.48% 2.46% 2.42% high risk Industrial Products Construction Project Construction Project

5 Name KOTAK SELECT FOCUS FUND An Open - Ended Equity EQUITY FUNDS KOTAK OPPORTUNITIES (As on ) An Open - Ended Equity Growth 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. To generate capital appreciation from a diversified portfolio of equity and equity related securities. : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Amount Inception as on Trustee s Discretion Mr. Harsha Upadhyaya Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the respective. (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re. 1 Ideal s Horizon: 3 years & above AAUM as on : A) NonDirect Plan: B) Direct Plan: 7.73 Ratios: Beta*: 0.91 Sharpe*: 0.95 Alpha*:5.85 Standard Deviation*: Turnover: 62.92% CNX 200 September 11, 2009 Kotak Select Focus Fund 30, CNX CNX Nifty Index # # (%) # ## Kotak Select Focus NAV as on : Rs (Dividend Option), Rs (Direct Dividend Option), Rs (Growth Option), Rs (Direct Growth Option) N.A stands for data not available. Note: Point to Point (PTP) in INR show the value ofrs. 10,000/- investment made at inception. Source: ICRAMFI Explorer # Name of. ## Name of. ^ Past performance may or may notbe sustained inthe future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year: Absolute; > 1 year: CAGR (Compounded Trustee s Discretion Mr. Harsha Upadhyaya Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment: 1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the respective. (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re. 1 Ideal s Horizon: 3 years & above AAUM as on : A) NonDirect Plan: B) Direct Plan: 5.89 Ratios: Turnover: 53.55% Beta*: 0.91 Sharpe*: 0.80 Alpha*: 3.15 Standard Deviation*: *Source: Value Research. CNX 500 Index September 9, 2004 Kotak Opportunities Fund growth 30, CNX 500 # CNX Nifty (%) Index # # (%) # ## Kotak Opportunities NAV as on June 30, : Rs (Dividend Option), Rs (Direct Dividend Option) Rs (Growth Option), Rs (Direct Growth Option) N.A stands for data not available. Note: Point to Point (PTP) in INR show the value ofrs. 10,000/- investment made at inception. Source: ICRAMFI Explorer # Name of. ## Name of. ^ Past performance may or may notbe sustained inthe future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year: Absolute; > 1 year: CAGR (Compounded Issuer/Instrument Industry/Rating % to Net Assets Tech Mahindra Ltd. ICICI Bank Ltd. Infosys Ltd. HDFC Bank Ltd. Tata Consultancy Services Ltd. State Bank Of India Bosch Limited Maruti Suzuki India Limited Bharat Petroleum Corporation Ltd. Ultratech Ltd. Ancillaries 5.64% 5.41% 4.42% 3.71% 3.62% 3.23% 3.12% 2.89% 2.88% 2.86% ICICI Bank Ltd. HDFC Bank Ltd. Tata Consultancy Services Ltd. Infosys Ltd. Tech Mahindra Ltd. State Bank Of India Maruti Suzuki India Limited Reliance Industries Ltd. Britannia Industries Ltd. Axis Bank Ltd 6.41% 4.98% 4.64% 4.62% 4.61% 3.77% 3.54% 3.35% 3.33% 2.91% 55.41% Listed/Awaiting Listing on Stock Exchange - Total 93.19% Total %age of existing assets non hedged through futures 1.12% Term Deposits - Total 0.57% Collateral Borrowing & Lending obligation 6.37% Net Current Assets/(Liabilities) -1.25% Term Deposit as provided above is towards margin for derivatives transactions For the month ended 30th September, other than hedging transactions through futures which have been squared off/expired are as follows; Total Number of contracts where futures were bought 580, Total number of contracts where futures were sold 640, Gross Notional value of contracts where futures were bought Rs lacs, Gross Notional value of contracts where futures were sold Rs lacs and Net profit/(loss) value on all these contracts combined Rs lacs Long term capital growth in portfolio of predominantly equity & equity related securities generally focussed on a few selected sectors. High risk (Brown) product is suitable for them. high risk 54.61% Listed/Awaiting Listing on Stock Exchange - Total 96.77% Term Deposits - Total 0.54% Collateral Borrowing & Lending obligation 2.70% Net Current Assets/(Liabilities) -0.01% Term Deposit as provided above is towards margin for derivatives transactions For the month ended 30th September, other than hedging transactions through futures which have been squared off/expired are as follows; Total Number of contracts where futures were bought 130, Total number of contracts where futures were sold 130, Gross Notional value of contracts where futures were bought Rs lacs, Gross Notional value of contracts where futures were sold Rs lacs and Net profit/(loss) value on all these contracts combined Rs.(40.95) lacs Long term capital growth in portfolio of predominantly equity & equity related securities High risk (Brown) product is suitable for them. high risk Gas Ancillaries Ancillaries

6 Name KOTAK BALANCE An Open - Ended Balanced EQUITY FUNDS KOTAK TAX SAVER (As on ) An Open - Ended Equity Linked Saving To achieve growth by investing in equity & equity related instruments, balanced with income generation by investing in debt & money market instruments. 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. Amount Inception : Dividend Payout, Dividend Reinvestment (applicable for all plans) Half Yearly (25th of Mar/Sep) Mr. Emmanuel Elango and Mr.Abhishek Bisen Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of investment:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of investment: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the respective. (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re. 1 Ideal s Horizon: 3 years & above AAUM as on : A) NonDirect Plan: B) Direct Plan: 1.37 Ratios: Turnover: % Beta*: 0.83 Sharpe*: 0.76 Alpha*: 2.11 Standard Deviation*: *Source: Value Research. Crisil Balanced Fund Index November 25, 1999 : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Trustee s Discretion Mr. Deepak Gupta Exit Load: Exit Load is not applicable for Kotak Tax Saver. (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Rs. 500 and in multiple of Rs. 500 : Rs. 500 & in multiples of Rs. 500 Ideal s Horizon: 3 years & above AAUM as on : A) NonDirect Plan: B) Direct Plan: 1.40 Ratios: Turnover: 57.14% Beta*: 1.05 Sharpe*: 0.59Alpha*: Standard Deviation*: *Source: Value Research. CNX 500 Index November 23, 2005 as on Kotak Balance 30, Kotak Balance NAV as on : Rs (Dividend Option) Rs (Direct Dividend Option) N.A stands for data not available. Note: Point to Point (PTP) in INR show the value of Rs. 10,000/- investment made at inception. Source: ICRA MFI Explorer # Name of. ## Name of. ^ Past performance may or may notbe sustained inthe future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year: Absolute; > 1 year: CAGR (Compounded 39.65% Listed/Awaiting Listing on Stock Exchange - Total 66.01% Corporate Debt/Financial Institutions - Total 7.96% Public Sector Undertakings - Total 5.21% Government d Securities - Total 7.93% Public Sector Undertakings - Total 1.22% Term Deposits - Total 2.03% Collateral Borrowing & Lending obligation 8.38% Net Current Assets/(Liabilities) 1.26% Term Deposit as provided above is towards margin for derivatives transactions For the month ended 30th September, other than hedging transactions through options which have already been exercised/expired are as follows; Total number of contracts entered into were 1060, Gross Notional Value of contracts is Rs lacs and Net Profit/(Loss) on all contracts is Rs. (13.87) lacs. Long term capital growth in equity & equity related securities balanced with income generation by investing in debt & money market instruments High risk (Brown) Crisil CNX Nifty Balanced # Fund Index N.A # ## N.A Issuer/Instrument Industry/Rating ICICI Bank Ltd. Larsen And Toubro Ltd. Construction Project HDFC Bank Ltd. Tech Mahindra Ltd. Tata Consultancy Services Ltd. Sun Industries Ltd. Maruti Suzuki India Limited Lupin Ltd. Infosys Ltd. Amara Raja Batteries Ltd. Ancillaries % to Net Assets 4.80% 3.83% 2.65% 2.41% 2.38% 2.35% 2.16% 1.95% 1.93% 1.90% high risk Kotak Tax Saver - Growth 30, CNX 500 # CNX Nifty (%) # # ## Kotak Tax Saver NAV as on : Rs (Dividend Option), Rs (Direct Dividend Option), Rs (Growth Option), Rs (Direct Growth Option) N.A stands for data not available. Note: Point to Point (PTP) in INR show the value ofrs. 10,000/- investment made at inception. Source: ICRAMFI Explorer # Name of. ## Name of. ^ Past performance may or may notbe sustained inthe future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year: Absolute; > 1 year: CAGR (Compounded ICICI Bank Ltd. HDFC Bank Ltd. Infosys Ltd. Tech Mahindra Ltd. Tata Consultancy Services Ltd. Whirlpool of India Ltd. State Bank Of India Maruti Suzuki India Limited Larsen And Toubro Ltd. Reliance Industries Ltd % Listed/Awaiting Listing on Stock Exchange - Total 94.59% Collateral Borrowing & Lending obligation 5.68% Net Current Assets/(Liabilities) -0.27% Total NPA s provided and percentage to NAV: Nil Total value and percentage to Net Asset of Illiquid Equity Shares: Nil long term capital growth with a 3 year lock in in portfolio of predominantly equity & equity related securities. High risk (Brown) Consumer Durables Construction Project 6.15% 4.65% 4.34% 4.33% 4.12% 3.68% 3.54% 3.48% 3.38% 2.96% high risk Construction Project Government d Securities Debentures and Bonds Construction Project Consumer Durables

7 Name KOTAK MID-CAP An Open - Ended Equity Growth EQUITY FUNDS (As on ) KOTAK EMERGING EQUITY An Open - Ended Equity Growth To generate capital appreciation from a diversified portfolio of equity and equity related securities. : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) The investment objective of the scheme is to generate long-term capital appreciation froma portfolio of equity and equity related securities, by investing predominantly in mid and small cap companies. : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for Amount switches : Rs & in multiples of Rs. 1 Ideal s Horizon: 3 years & above Inception as on Trustee s Discretion Mr. Pankaj Tibrewal Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year fromthe date of allotment of units, irrespective of the amount of investment:1% ii) For redemptions / switch outs (including SIP/STP) after1 year fromthe date of allotment of units, irrespective of the amount of investment: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the.(applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) AAUM as on : A) NonDirect Plan: B) Direct Plan: 3.65 Ratios: Turnover: 87.49% Beta*: 1.14 Sharpe*: 0.78 Alpha*: 5.05 Standard Deviation*: *Source: Value Research. CNX Midcap February 24, 2005 Kotak Midcap Fund - Growth 30, ( %) ^ CNX Midcap CNX Nifty # # ## Kotak Midcap NAV as on : Rs (Dividend Option), Rs (Direct Dividend Option), Rs (Growth Option), Rs (Direct Growth Option) N.A stands for data not available. Note: Point to Point (PTP) in INR show the value ofrs. 10,000/- investment made at inception. Source: ICRAMFI Explorer # Name of. ## Name of. ^ Past performance may or may notbe sustained inthe future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year: Absolute; > 1 year: CAGR (Compounded Trustee s Discretion Mr. Pankaj Tibrewal. Exit Load: I) For redemptions / switch outs (including SIP/STP) within 2 years from the date of allotment of units, irrespective of the amount of investment:1% ii) For redemptions / switch outs (including SIP/STP) after2 years fromthe date of allotment of units, irrespective of the amount of investment: NIL iii)any exit load charged (net offservicetax, if any) shall be credited back to the. (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re. 1 Ideal s Horizon: 3 years & above AAUM as on : A) NonDirect Plan: B) Direct Plan: 0.99 Ratios: Turnover: % Beta*: 1.02 Sharpe*: 0.93 Alpha*: 8.63 Standard Deviation*: *Source: Value Research. S&P BSE MID CAP March 30, 2007 Kotak Emerging Equity - Growth 30, (%) S&P BSE Midcap CNX Nifty # # ## Kotak Emerging Equity NAV as on : Rs (Dividend Option), Rs (Direct Dividend Option), Rs (Growth Option), Rs (Direct Growth Option) N.A stands for data not available. Note: Point to Point (PTP) in INR show the value ofrs. 10,000/- investment made at inception. Source: ICRAMFI Explorer # Name of. ## Name of. ^ Past performance may or may notbe sustained inthe future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year: Absolute; > 1 year: CAGR (Compounded Federal Bank Ltd. Kewal Kiran Clothing Limited. Yes Bank Ltd Solar Industries India Limited Whirlpool of India Ltd. JK Ltd. Shree Ltd. Finolex Cables Ltd. Tech Mahindra Ltd. The Ramco s Ltd 69.25% Listed/Awaiting Listing on Stock Exchange - Total 97.93% Collateral Borrowing & Lending obligation 1.97% Net Current Assets/(Liabilities) 0.10% long term capital growth in equity & equity related securities predominantly in mid cap stocks. High risk (Brown) Textile Products Chemicals Consumer Durables Industrial Products 3.46% 3.31% 3.14% 3.09% 2.97% 2.86% 2.52% 2.47% 2.47% 2.39% high risk Issuer/Instrument Solar Industries India Limited V-Guard Industries Ltd. Whirlpool of India Ltd. Federal Bank Ltd. Yes Bank Ltd The Ramco s Ltd Persistent Systems Limited Finolex Industries Ltd. Bajaj Limited Va Tech Wabag Limited 61.79% Listed/Awaiting Listing on Stock Exchange - Total 88.17% Total %age of existing assets non hedged through futures 5.28% Collateral Borrowing & Lending obligation 13.20% Net Current Assets/(Liabilities) -6.65% Total NPA s provided and percentage to NAV: Nil Total value and percentage to Net Asset of Illiquid Equity Shares: Nil Long term capital growth in equity & equity related securities predominantly in mid & small cap companies High risk (Brown) Industry/Rating Chemicals Industrial Capital Goods Consumer Durables Industrial Products Engineering Services % to Net Assets 3.64% 3.18% 3.08% 2.75% 2.50% 2.39% 2.34% 2.30% 2.11% 2.09% high risk Chemicals Ancillaries Industrial Products Consumer Durables Midcap stocks as a % age of Net Assets: 83.35% Industrial Capital Goods Derivatives Ancillaries Consumer Durables Industrial Products Midcap and Small cap stocks as a % age of Net Assets: 74.00%

8 Name EQUITY FUNDS KOTAK GLOBAL EMERGING MARKET FUND An Open-Ended Equity (As on ) KOTAK ASSET ALLOCATOR FUND An Open Ended Fund of Funds (Earlier known as Kotak Equity Fund of Funds Schme) The investment objective of the scheme is to generate long-term capital appreciation by investing in an overseas mutual fund scheme that invest in a diversified portfolio of securities as prescribed by SEBIfromtime to time in global emerging markets. : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) The investment objective of the scheme is to generate long-term capital appreciation from a portfolio created by investing in specified open-ended equity, and debt schemes of Kotak Mahindra Mutual Fund. However, there is no assurance that the investment objective of the will be realized. (A) Regular Plan (B) Direct Plan Option: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Amount Trustee s Discretion Mr. Deepak Gupta (Dedicated fund manager for overseas investment) & Mr.Abhishek Bisen Exit Load: I) For exit within 1 year from the date of allotment of units: 1%. ii) For exit after 1 year from the date of allotment of units: Nil iii)any exit load charged (net offservicetax, if any) shall be credited back to the. (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re. 1 Ideal s Horizon: 3 years & above AAUM as on : A) NonDirect Plan: B) Direct Plan: 0.23 Ratios: Beta*: 0.19 Sharpe*: 0.99Alpha*: 7.65 Standard Deviation*: 9.73 * Source: Value Research. Trustee s Discretion Mr. Deepak Gupta Exit Load: I) 1% if exit before 1 year from date of allotment. II) Nil if exit after 1 year from the date of allotment. 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. III) Any exit load charged (net off Service Tax, if any) shall be credited back to the (applicable for all plans). Bonus units and units issued on reinvestment of dividends shall not be subject to entry and exit load. (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re. 1 Ideal s Horizon: 3 years & above AAUM as on : A) NonDirect Plan: B) Direct Plan: 0.26 Ratios: Beta*: 0.95 Sharpe*:0.78 Alpha*: 2.99 Standard Deviation*: * Source: Value Research. Inception MSCI Emerging Market Index September 26, 2007 Crisil Balanced Fund Index August 9, 2004 as on Kotak Global Emerging Equity Market Fund 30, MSCI CNX Nifty Emerging # Market Index # ## Kotak Global Emerging Market Fund NAV as on : Rs (Dividend Option),Rs (Direct Dividend Option), Rs (Growth Option), Rs (Direct Growth Option) N.A stands for data not available. Note: Point to Point (PTP) in INR show the value ofrs. 10,000/- investment made at inception. Source: ICRAMFI Explorer # Name of. ## Name of. ^ Past performance may or may notbe sustained inthe future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year: Absolute; > 1 year: CAGR (Compounded ofthe scheme: Kotak Equity Fund of Fund has been converted into KotakAssetAllocator Fund on September 20,. Hence KotakAssetAllocator Fund does not have a performance trackrecord. Kotak Asset Allocator Fund NAV as on : Rs (Dividend Option), Rs (Direct Dividend Option), Rs (Growth Option), Rs (Direct Growth Option) Issuer/Instrument Industry/Rating % to Net Assets Issuer/Instrument Industry/Rating % to Net Assets Mutual Fund Units - Total 94.63% Collateral Borrowing & Lending obligation 5.59% Net Current Assets/(Liabilities) 5.37% MGF ASIAN SMALL EQUITY FUND CLASS I Overseas Mutual Fund 63.76% Kotak Liquid Plan A Direct Growth Debt ishares MSCI Emerging Markets ETF Overseas Mutual Fund 30.87% Kotak Select Focus Fund Direct Growth Equity 89.81% 9.77% Mutual Fund Units - Total 99.58% Net Current Assets/(Liabilities) 0.42% Total NPA s provided and percentage to NAV: Nil Total value and percentage to Net Asset of Illiquid Equity Shares: Nil Total NPA s provided and percentage to NAV: Nil Total value and percentage to Net Asset of liquid Equity Shares: Nil Long term capital growth in overseas mutual fund schemes that invest in a diversified portfolio of securities in global emerging markets High risk (Brown) high risk long term capital growth in open-ended diversified equity schemes and debt schemes of Kotak Mahindra Mutual Fund High Risk (Brown) high risk 5.59 Equity 9.77 Overseas Mutual Fund Debt

9 Name EQUITY FUNDS KOTAK EQUITY ARBITRAGE An Open - Ended Equity Growth (As on ) Amount Inception 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. : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Monthly (Monday preceding the last Thursday of the month) Mr. Deepak Gupta Exit Load: I)For redemptions/switch outs (including STP/ SWP) within 90 days from the date of allotment of units, irrespective of the amount of investment: 0.50% II) For redemptions/ switch outs (including STP/ SWP) after 90 days from the date of allotment of units, irrespective of the amount of investment: Nil Note 1) Any exit load charged (net off Service Tax, if any) shall be credited back to the. 2) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) (w.e.f. April 8, 2013) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re1 Ideal s Horizon - 3 Months & above AAUM as on : A) NonDirect Plan: B) Direct Plan: Ratios: Turnover: % Beta*: 0.39 Sharpe*: 3.04 Alpha*: 1.47 Standard Deviation*: 0.66 *Source: Value Research. CRISIL Liquid Fund Index September 29, 2005 as on Kotak Equity Arbitrage Fund - Growth 30, Crisil Liquid Fund Index CNX Nifty # # ## Kotak Equity Arbitrage NAV as on : Rs (Dividend Option), Rs (Growth Option), Rs (Direct Growth Option), Rs (Direct Dividend Option) N.A stands for data not available. Note: PointtoPoint (PTP) ininr showthe value ofrs. 10,000/- investment made at inception. Source: ICRAMFIExplorer. # Name of. ## Name of. ^Past performance may or may notbe sustained infuture. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year: Absolute; > 1 year: CAGR (Compounded Annualised Growth Rate). Hedging Positions through Futures as on 30th September, Issuer/Instrument Industry/Rating % to Net Assets Underlying Long/ Futures Current Price When Price of the HDFC Bank Ltd. Lupin Ltd. Reliance Industries Ltd. Grasim Industries Ltd. HDFC Ltd. Titan Company Ltd. Reliance Capital Ltd. Reliance Infrastructure Ltd Tata Motors Ltd - DVR Hindustan Petroleum Corporation Ltd 34.75% Listed/Awaiting Listing on Stock Exchange - Total 73.34% Corporate Debt/Financial Institutions - Total 3.92% Public Sector Undertakings - Total 1.26% Treasury Bills - Total 1.63% Term Deposits - Total 15.26% Collateral Borrowing & Lending obligation 3.44% Net Current Assets/(Liabilities) 1.15% Term Deposit as provided above is towards margin for derivatives transactions For the month ended 30th September, hedging transactions through futures which have been squared off/expired are as follows; Total Number of contracts where futures were bought 51878, Total number of contracts where futures were sold 12314, Gross Notional value of contracts where futures were bought Rs lacs, Gross Notional value of contracts where futures were sold Rs lacs and Net profit/(loss) value on all these contracts combined Rs lacs Income from arbitrage opportunities in the equity market in arbitrage opportunities in the cash & derivatives segment of the equity market. Low risk (Blue) Consumer Durables Power Consumer Durables Commercial Paper (CP)/Certificate of Deposits (CD) high risk % 6.80% 6.02% 4.22% 3.49% 3.29% 2.36% 2.22% 1.75% 1.64% HDFC Bank Ltd. Lupin Ltd. Reliance Industries Ltd. Grasim Industries Ltd. HDFC Ltd. Titan Company Ltd. Reliance Capital Ltd. Reliance Infrastructure Ltd Tata Motors Ltd - DVR Hindustan Petroleum Corporation Ltd Arvind Ltd IDFC Limited Bharat Forge Ltd. Dabur India Ltd Voltas Ltd. Tata Motors Ltd. UPL Ltd Aurobindo Pharma Ltd. Cipla Ltd. Tata Steel Limited. Sun Industries Ltd. Maruti Suzuki India Limited Glenmark Ltd GMR Infrastructure Ltd. Tata Chemicals Ltd. Century Textiles & Industries Ltd. SKS Microfinance Limited Asian Paints Ltd. ACC Ltd. Tata Global Beverages Limited IndusInd Bank Ltd. Hero MotoCorp Ltd. Motherson Sumi Systems Ltd. Jindal Steel & Power Ltd. Indian Oil Corporation Ltd Tech Mahindra Ltd. Oil & Natural Gas Corporation Ltd. Exide Industries Ltd Idea Cellular Ltd. JSW Steel Ltd. Reliance Communications Ltd. Coal India Ltd. Jaiprakash Associates Ltd ICICI Bank Ltd. Bharat Petroleum Corporation Ltd. Power Corporation Ltd. Biocon Ltd. LIC Housing Ltd. ITC Ltd. Hexaware Technologies Ltd. Industrial Development Bank of India Ltd. Godrej Industries Ltd Sun TV Limited. HCL Technologies Ltd. Tata Communications Ltd Apollo Tyres Ltd. L&T Holdings Ltd Tata Power Co. Ltd. Karnataka Bank Ltd National Thermal Power Corporation Limited IRB Infrastructure Developers Ltd Punjab National Bank Rural Electrification Corporation Ltd Crompton Greaves Ltd. Divi s Laboratories Limited Jaiprakash Power Ventures Ltd. Dr Reddys Laboratories Ltd TVS Motors Company Ltd Ambuja s Ltd Havells India Ltd. Reliance Power Ltd Unitech Ltd Hindustan Zinc Ltd. India s Ltd. Wipro Ltd. Ranbaxy Laboratories Ltd. Mcleod Russel India Ltd Jain Irrigation Systems Ltd. Syndicate Bank Adani Power Ltd MindTree Ltd. Bajaj Ltd. UCO Bank Bank Of Baroda Eicher Motors Ltd Dish TV India Ltd. Hindalco Industries Ltd Indian Overseas Bank GAIL (India) Ltd. Indraprastha Gas Ltd. Bank of India Cairn India Limited purchased Total %age of existing assets hedged through futures Contract Margin Maintained in Lakhs 2, , , , , , % 15 8

10 Name DEBT FUNDS KOTAK BANKING AND PSU DEBT FUND An Open - Ended Debt Earlier known as Kotak Mahindra Gilt Savings Savings Plan. (As on ) KOTAK GILT INVESTMENT An Open - Ended Dedicated Gilt Unit Amount Inception as on To generate income by predominantly investing in debt & money market securities issued by & PSUs and Reverse repos in such securities, sovereign securities issued by the Central Government and State Governments, and / or any security unconditionally To generate risk-free returns through investments in sovereign securities issued by the Central and /or StateGovernment(s) and/ or reverse repos in such securities. guaranteed by the Govt. of India. Plans- A) Regular Plan, B) PF & Trust Plan, C) Regular Direct Plan, D) PF & Trust Direct : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Plan. : Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Daily, Monthly (12th of every Month) & Annual Quarterly (20th of Mar/Jun/Sep/Dec) Mr. Abhishek Bisen & Mr. Deepak Agrawal Mr.AbhishekBisen &Mr.DeepakAgrawal. Entry Load: (a) Regular Plan - Entry: Nil. (b) PF & Trust Plan - Entry: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Dividend Payout, Dividend Re-investment & Growth - Rs & above. : Rs & in multiples of Re.1. Ideal s Horizon: 3-12 Months AAUM as on : A) NonDirect Plan: B) Direct Plan: Ratios: Beta*: 0.37 Sharpe*: 1.53 Alpha*: 2.18 Standard Deviation*: 1.68 YTM: 8.75% *Source: Value Research. Modified Duration: 0.13 yrs Crisil Liquid Fund Index December 29, 1998 Kotak Banking and PSU Debt Fund - Growth Since inception (14- Aug-13) till Sept 30, Kotak Mahindra Gilt Savings 98 Savings Plan has been converted into Kotak Banking and PSU Debt Fund onaugust 14, Kotak-Banking and PSU Debt Fund NAV as on : Rs (Growth Option), (Daily Dividend Reinvestment), (Monthly Dividend), (Annual Dividend), (Direct Growth), (Direct Daily Reinvestment), (Direct Monthly Dividend), (Direct Annual Dividend). Note: Point to Point (PTP) in INR show the value of Rs. 10,000/- investment made at inception. Source: ICRA MFI Explorer. For (Debt s): classification of schemes in short term& long term is based on the average maturity of the scheme. # Name of. ## Name of. ^ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year:absolute; > 1 year: CAGR (Compounded Top Holdings Rural Electrification Corporation Ltd. CARE A % IndusInd Bank Ltd % National Bank for Agriculture and 14.21% Rural Development Andhra Bank 12.73% Power Corporation Ltd % Oriental Bank of Commerce 7.99% Allahabad Bank 7.96% State Bank of Patiala 2.69% Central Bank Of India 2.52% 91 Days Treasury Bill 11/12/ 2.37% Corporate Debt/Financial Institutions - Total 15.11% Public Sector Undertakings - Total 79.77% Treasury Bills - Total 2.37% Collateral Borrowing & Lending obligation 7.46% Net Current Assets/(Liabilities) -4.71% Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.13 years Total NPA provided and percentage to NAV: NIL Income over a short to medium term investment horizon in debt & money market securities of PSUs, & government securities Low risk (Blue) Crisil Liquid Fund Index CRISIL 1 Year T- Bill Index # ## high risk Exit Load: (a) Regular Plan - Exit: Nil. (b) PF&Trust Plan - Exit: Nil. (applicable for all plans) Bonus units and units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Initial : Rs and in multiple of Re. 1 for purchase and for Re 0.01 for switches : Rs & in multiples of Re.1. Ideal s Horizon: 1 year & above AAUM as on : A) Non Direct Plan: B) PF & Trust Plan: C) Regular Direct Plan: D) PF & Trust Direct Plan: 3.13 Ratios:[(a) Regular Plan - Sharpe*: Beta*: 0.84 Alpha*: Standard Deviation*: 8.01 (b) PF & Trust Plan Ratios: Sharpe*: Beta*: 0.84 Alpha*: Standard Deviation*: 8.01 YTM: 8.75% ] *Source: Value Research. Modified Duration: 7.39 yrs ISEC Composite Index Regular Plan - December 29, 1998; PF & Trust Plan - November 11, 2003 Kotak Gilt - Regular Plan - Growth 30, Kotak Gilt PF & Trust Plan- Growth 30, The benchmark return corresponds only Kotak Gilt PF and Trust Plan. Kotak Gilt Regular Plan NAV as on : Rs (Growth Option), Rs (Dividend Option), Rs (Direct Growth Option), Rs (Direct Dividend Option) Kotak Gilt PF & Trust Plan NAV as on : Rs (Growth Option), Rs (Dividend Option), Rs (Direct Growth Option). N.A stands for data not available. Note: Point to Point (PTP) in INR show the value of Rs. 10,000/- investment made at inception. Source: ICRA MFI Explorer. For (Debt s): classification of schemes in short term& long term is based on the average maturity of the scheme. # Name of. ## Name of. ^ Past performance may or may not be sustained in the future. All payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. <= 1 year:absolute; > 1 year: CAGR (Compounded Top Holdings 8.6% Central Government 9.2% Central Government 8.4% Central Government 8.32% Central Government 8.3% Central Government ISEC Composite Index ISEC Composite Index CRISIL 10 Year Gilt Index # #(%) 9.74 N.A N.A CRISIL 10 Year Gilt Index # #(%) % Central Government # ## N.A N.A # ## % 25.22% 20.04% 10.04% 6.45% 4.64% Government d Securities - Total 97.20% Collateral Borrowing & Lending obligation 1.68% Net Current Assets/(Liabilities) 1.12% Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : years Total NPA provided and percentage to NAV: NIL Income over a long investment horizon s in sovereign securities issued by the Central and/or State Government(s) and / or reverse repos in such securities. Low risk (Blue) product is suitable for them. high risk Net Current Assets Net Current Assets 1.12 Treasury Bills Commercial Paper (CP)/Certificate of Deposits (CD) Government d Securities Rating Profile A1+, Net Current Assets Net Current Assets