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

Transcription

1 August 31, 2018 Past performance of the Sponsor/AMC/Fund does not indicate the schemes future performance. Risk Factors on page 71 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 Kotak India Growth Fund Series 4 13 Kotak India Growth Fund Series 5 14 Arbitrage Funds Kotak Equity Arbitrage Fund Arbitrage Fund 15 Hybrid Funds Kotak Balanced Advantage Fund Balanced Advantage 18 Kotak Equity Hybrid (Erstwhile Kotak Balance) Aggressive Hybrid Fund 21 Kotak Equity Savings Fund Equity Savings 22 Kotak Debt Hybrid (Erstwhile Kotak MIP) Conservative Hybrid Fund 25 Debt Funds Kotak Mahindra Liquid Liquid Fund 26 Kotak Bond Short Term Plan Short Duration Fund 27 Kotak Savings Fund (Erstwhile Kotak Treasury Advantage Fund) Ultra Short Duration Fund 28 Kotak Money Market (Erstwhile Kotak Floater Short Term ) Money Market Fund 29 Kotak Duration Fund Duration Fund 30 Kotak Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) Credit Risk Fund 31 Kotak Medium Term Fund Medium Duration Fund 33 Kotak Bond (Erstwhile Kotak Mahindra Bond Unit 99) Medium to Long Duration Fund 35 Kotak Corporate Bond Fund Corporate Bond Fund 36 Kotak Banking & PSU Debt Fund Banking & PSU Fund 37 Kotak Mahindra Gilt Unit 98 - Investment Plan Gilt Fund 38 Kotak Dynamic Bond Fund (Erstwhile Kotak Flexi Debt ) Dynamic Bond 39 Exposure 40 Fund of Funds Kotak Asset Allocator Fund 42 Kotak US Equity Fund 43 Kotak Global Emerging Market Fund 44 Kotak World Gold Fund 45 ETF Funds Kotak Gold ETF 46 Kotak Nifty ETF 47 Kotak Sensex ETF 48 Kotak Banking ETF 49 Kotak PSU Bank ETF 50 Performance 51 About Our Fund Managers 58 Dividend History 60 Categorization - Equity s 63 Categorization - Debt s 67 How to read Fact Sheet 71

3 Expert Speak August 31, 2018 Dear Friends, We just celebrated SIP day on 31st Aug. It was our small way of underlining how important SIP is in wealth creation. SIP is an easy to use medium to invest in markets, build up capital and create a large corpus over a period of time. That is what SIP is. It rewards resolve, foresight and discipline - and costs marginally. But rationality is a wonderful aberration in our world of biases and emotions. Let a fund performance stagnate for a year - or worse - two. The itch to stop the SIP or to switch it would be so severe that very few can resist it. And that is what happens mostly. As a result, the performance gap between a self-managed portfolio and the market return is usually large enough to impact performance. This is what I call the advisory gap is. This gap is the value a good advisor will fillup by ensuring that the confidence and discipline of the investor remains firm in a poor market. It is advisors who manage investors emotional biases at nearly all stages of sales and post sales. It is observed that more often than not, an investor is looking for confidence rather than information in his decisions. It is the advisors that supply this confidence. In turn, it our job as professional managers to give a stable ground on which this confidence can be built. Having said that, as finance professionals, we need to be right big and wrong small to generate long term wealth. Our Balanced advantage fund is structured on that thought. This fund is willing to let go of appreciation opportunity at high valuations rather than lose capital. But it also allocates big when the market valuations are cheap and levels attractive. Therefore, investors who seek equity performance with reduced risk, find this asset class a good bet. I continue to invite you to our Kotak balanced advantage fund. We have taken a long time to fine tune its allocation model. And now we believe that it s time we let it run the field. In a slight turn of subject, India s Q1 FY19 gdp numbers have come as a pleasant surprise. My anecdotal stories of rising consumption in rural and urban areas now has data to it. The industrial sector is growing at 6.6% yoy (july18). The credit offtake from the banking sector is at around 13% yoy. Advance tax tax filings are up 44%. GST collection continues to remain robust and continues to widen the tax net. This is indicative of robust growth trajectory. Now what needs to be seen is will this growth rate take root and sustain without causing inflation. My view is that inflation in India used to be some combination of unproductive government spends, crude oil and production bottlenecks. Crude while high on yoy basis, is well below the three digit crude prices India used to pay. Rising investment in infrastructure to some extent has resolved the issue of unproductive spends by GOI. Similarly, GST in many ways is addressing the structural bottlenecks. Although much still needs to be done. Now what India needs is an income stimulus. In a previous letter, we had pointed out that as Chinese imports attract further US tariffs, India would be presented a manufacturing opportunity. And like most opportunities, this too is coming forth as an half-opportunity. Now what we need is initiative and entrepreneurship to convert this into full prosperity. Wishing you all the very best. Regards, Nilesh Shah Managing Director 1 1

4 Market Overview Key Events for the Month of August 2018: 1Q GDP growth rose to 8.2% with strong manufacturing & agricultural activity, while growth in services sector fell due to weakness in trade & hotels segment. June IIP rebounded to 4-month high of 7% The 25bps repo rate hike and neutral forward guidance by RBI in Aug policy meet was in-line with expectations. Jul CPI reached 9-month low of 4.17% undershooting market expectations. Core inflation moderated marginally to 6.3% from 6.45% previously. WPI eased to 5.09% in July on account of lower food prices July trade deficit deteriorated further to US 18bn (highest since May 13), despite gold imports standing at US 3bn in July (vs US 7.7bn in May 13 when crude prices were also over US100/bbl). Import growth was at 29% led by crude & minerals, with 14% export growth. Fiscal deficit worsened with Apr-Jul FY19 fiscal deficit standing at 87% of FY19BE India, which was ranked 118 in 2014, is now at 96th rank on the United Nation's E-Government Index. Kerala witnessed the worst floods in a century on account of days of excessive precipitation causing massive loss of property and life. Indian equities were in the green in Aug (~3%) with the remainder of Q1 earnings coming inline 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 Aug-15 Sep-15 Oct-15 Nov-15 Aug-91 Aug-92 Aug-93 Aug-94 Aug-95 Aug-96 Aug-97 Aug-98 Aug-99 Aug-00 Aug-01 Aug-02 Aug-03 Aug-04 Aug-05 Aug-06 Aug-07 Aug-08 Aug-09 Aug-10 Aug-11 Aug-12 Aug-13 Aug-14 Aug-15 Aug-16 Aug-17 Aug Market Equity Allocaion Dec 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) Jan Feb Mar Source: Motilal Oswal Source: Motilal Oswal Apr-16 May-16 Jun-16 Jul-16 Aug-16 Fair Value Plus 17x -20x Sep month forward Sensex P/E (x) Fair 13x -17x Attractive 10x -13x Oct-16 Cheap 8x -10x Nov-16 Stretched 20x-24x 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 Source:Internal Calculation Strategy for Investments in the Current Scenario for Equity Investor 2

5 Equity Market Snapshot Rupee is Depreciating In 2018 YTD But Has Fallen The Least In 5 Years Among Peers 60% Currency Depreciation (29-Aug-13 to 29-Aug-18) 50% 50% 42% 40% 30% 29% 28% 20% 19% 18% 12% 12% 10% 7% 7% 0% Growth (%, yoy) Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 0 Sep15 Russia Growth (%, yoy) Dec15 Brazil Mexico South Africa Canada Australia Japan Europe India Singapore Source: Bloomberg Real GDP growth accelerates in 1QFY19 led by Jump in private consumption Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Real GDP Nominal GDP Private consumption Government consumption Gross capital formation Source: CSO, Spark Capital Research 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 Aug-18 July-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 6.45% 6.25% 20 bps Call(O/N) 6.41% 6.16% 25 bps CBLO 5.40% 6.24% -84 bps 1 yr T Bill 7.31% 7.22% 9 bps 10 G Sec 7.95% 7.77% 18 bps 5 Year AAA 8.62% 8.57% 5 bps USD/INR ` ` ` 2.32 Source: RBI; Bloomberg. 78 Credit Growth Picking Up Current Credit/Deposit Ratio is ~74.93%(LHS) % Commercial CXredit by Banks = Rs lakh Crore (RHS) 75 Lakh Crore 66 INCMCRED Index (R1) INDPICRD Index (L1) Sep-16 Oct-16 Nov-16 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 Source: Bloomberg, Data as on 31st August India-US CPI and Yield Spread India-US CPI Spread India-US Gilt Spread Aug-12 Oct-12 Dec-12 Feb-13 Apr-13 Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14 Aug-14 Oct-14 Dec-14 Feb-15 Apr-15 Jun-15 Aug-15 Oct-15 Dec-15 Feb-16 Apr-16 Jun-16 Aug-16 Oct-16 Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Dec-17 Feb-18 Apr-18 Jun-18 Aug-18 Narrowing CPI spreads and widening bond spreads make Indian fixed income attractive therefore risk of sharp outflow due to rates differential is unlikely Note: 10 year Gilt Yield taken as average of their respective month. Data as of Aug 2018 (Aug 2018 CPI is assumed to be same as July Source: Bloomberg 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* AAUM: AUM: Investment Objective 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 `19, crs `19, crs Benchmark: Nifty 200 Allotment date: September 11, 2009 Folio count: 10,99,479 Source: ICRA MFI Explorer. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units:1% b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units: NIL Total Expense Ratio** Regular:2.03%; Direct: 1.17% 31.15% % Equity & Equity related HDFC Bank Ltd. Banks 6.88 Reliance Industries Ltd. Petroleum Products 6.51 ICICI Bank Ltd. Banks 4.81 Larsen And Toubro Ltd. Construction Project 4.75 HDFC Ltd. Finance 4.33 Infosys Ltd. Software 4.27 State Bank Of India Banks 2.89 RBL Bank Ltd Banks 2.86 ITC Ltd. Consumer Non Durables 2.84 Tata Consultancy Services Ltd. Software 2.65 Maruti Suzuki India Limited Auto 2.49 Hero MotoCorp Ltd. Auto 2.45 Bajaj Finance Limited Finance 2.28 Petronet LNG Ltd. Gas 2.15 GAIL (India) Ltd. Gas 2.13 Mahindra & Mahindra Ltd. Auto 2.10 Bharat Financial Inclusion Limited Finance 2.04 Ultratech Cement Ltd. Cement 2.04 AU Small Finance Bank Ltd. Banks 1.96 Axis Bank Ltd Banks 1.89 Britannia Industries Ltd. Consumer Non Durables 1.84 Shree Cement Ltd. Cement 1.82 The Ramco Cements Ltd Cement 1.52 ICICI Lombard General Insurance Company Ltd Finance 1.46 Indraprastha Gas Ltd. Gas 1.43 Godrej Consumer Products Ltd. Consumer Non Durables 1.19 Hindustan Unilever Ltd. Consumer Non Durables 1.16 Bharat Electronics Ltd Industrial Capital Goods 1.11 Container Corporation of India Ltd. Transportation 1.11 Jindal Steel & Power Ltd. Ferrous Metals 1.11 IndusInd Bank Ltd. Banks 0.99 SBI Life Insurance Company Ltd Finance 0.94 HDFC Standard Life Insurance Company Ltd Finance 0.93 Note: Term Deposit as provided above is towards margin for derivatives transactions Benchmark SECTOR ALLOCATION (%) Arvind Ltd Textile Products 0.91 Bajaj Finserv Ltd. Finance 0.90 Bata India Ltd. Consumer Durables 0.89 MRF Limited Auto Ancillaries 0.88 Kec International Ltd. Construction Project 0.87 Cadila Healthcare Ltd. Pharmaceuticals 0.83 Century Textiles & Industries Ltd. Cement 0.72 Inter Globe Aviation Ltd Transportation 0.72 Bharat Petroleum Corporation Ltd. Petroleum Products 0.71 Avenue Supermarts Ltd Retailing 0.68 Max Financial Services Ltd. Finance 0.64 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.63 AIA Engineering Limited Industrial Products 0.58 Jubilant Foodworks Limited Consumer Non Durables 0.54 Bayer Cropscience Ltd. Pesticides 0.52 Solar Industries India Limited Chemicals 0.50 Ashok Leyland Ltd. Auto 0.47 Equitas Holdings Ltd Finance 0.45 Bharat Earth Movers Ltd. Industrial Capital Goods 0.36 HDFC Ltd. Warrants Finance 0.24 Laurus Labs Ltd Pharmaceuticals 0.24 Whirlpool of India Ltd. Consumer Durables 0.23 Simran Wind Project Ltd. Construction Project 0.21 Max India Limited Healthcare Services 0.09 Kirloskar Oil Engines Ltd. Industrial Products 0.04 Equity & Equity Related - Total Term deposits HDFC Bank Ltd IndusInd Bank Ltd Term Deposits - Total 0.46 Collateral Borrowing & Lending obligation 4.78 Net Current / (Liabilities) Grand Total Financial Services Energy Consumer Goods Automobile Information Technology Cement & Cement Products Cash & Cash Equivalent Construction Industrial Manufacturing Services Data as on August 31, 2018 Product Label LOW Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: 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. HIGH Monthly SIP of ` Total amount invested ( `) Total Value as on August 31, 2018 ( `) Returns (%) Nifty 200 (TRI) ( `)# Nifty 200 (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 7 years 5 years 3 years 1 year 10,80,000 8,40,000 6,00,000 3,60,000 1,20,000 24,56,189 16,91,971 9,56,707 4,70,522 1,30, ,93,934 14,98,807 9,03,959 4,77,758 1,32, ,18,365 14,42,208 8,82,533 4,78,398 1,35, 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. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak Standard Multicap Fund (Erstwhile Kotak Select Focus) NAV as on August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *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

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* AAUM: AUM: Investment Objective 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 Benchmark: Nifty Midcap 100 Allotment date: March 30, 2007 Folio count: 2,65,967 Source: ICRA MFI Explorer. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units:1%. b) For redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units: Nil. Total Expense Ratio** Regular: 2.13%; Direct: 1.26% 37.70% % Equity & Equity related Bharat Financial Inclusion Limited Finance 3.88 RBL Bank Ltd Banks 3.83 Schaeffler India Ltd Industrial Products 3.28 The Ramco Cements Ltd Cement 3.16 Atul Ltd. Chemicals 2.98 Supreme Industries Limited Industrial Products 2.98 Shriram City Union Finance Ltd. Finance 2.61 Solar Industries India Limited Chemicals 2.61 Thermax Ltd. Industrial Capital Goods 2.41 Finolex Cables Ltd. Industrial Products 2.33 APL Apollo Tubes Limited Ferrous Metals 2.30 Emami Ltd. Consumer Non Durables 2.24 Sundaram Finance Ltd. Finance 1.94 Amara Raja Batteries Ltd. Auto Ancillaries 1.93 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.91 AU Small Finance Bank Ltd. Banks 1.90 Coromandel International Ltd. Fertilisers 1.89 Federal Bank Ltd. Banks 1.89 Apollo Hospitals Enterprises Ltd. Healthcare Services 1.87 Tata Global Beverages Limited Consumer Non Durables 1.87 SKF India Ltd Industrial Products 1.82 City Union Bank Ltd. Banks 1.81 Edelweiss Financial Services Ltd Finance 1.81 P I INDUSTRIES LTD Pesticides 1.77 Exide Industries Ltd Auto Ancillaries 1.71 Kajaria Ceramics Ltd. Construction 1.68 Godrej Agrovet Ltd Consumer Non Durables 1.65 Mahindra & Mahindra Financial Services Ltd. Finance 1.61 SRF Ltd. Textile Products 1.60 Future Retail Ltd. Retailing 1.57 Motherson Sumi Systems Ltd. Auto Ancillaries 1.56 Bata India Ltd. Consumer Durables 1.45 Kewal Kiran Clothing Limited. Textile Products 1.44 Eris Lifesciences Ltd Pharmaceuticals 1.41 Lux Industries Limited Textile Products 1.38 Whirlpool of India Ltd. Consumer Durables 1.38 Oberoi Realty Ltd Construction 1.35 Abbott India Ltd. Pharmaceuticals 1.32 Notes: Term Deposit as provided above is towards margin for derivatives transactions. Large Cap, Midcap and Small cap stocks as a % age of Net : 2.95%, 65.02% & 30.05% SECTOR ALLOCATION (%) Indraprastha Gas Ltd. Gas 1.27 Eveready Industries India Ltd. Consumer Non Durables 1.22 Navneet Education Ltd. Media and Entertainment 1.21 Gujarat State Petronet Ltd. Gas 1.20 TI Financial Holding ltd. Finance 1.18 Hawkins Cooker Ltd Household Appliances 1.12 Divi s Laboratories Limited Pharmaceuticals 1.10 Kirloskar Oil Engines Ltd. Industrial Products 1.08 Voltas Ltd. Construction Project 1.06 Laurus Labs Ltd Pharmaceuticals 0.86 Ramkrishna Forgings Ltd. Industrial Products 0.82 Bajaj Finance Limited Finance 0.79 Bharat Earth Movers Ltd. Industrial Capital Goods 0.78 V-Guard Industries Ltd. Industrial Capital Goods 0.78 Persistent Systems Limited Software 0.76 WPIL Ltd Industrial Products 0.73 PNC Infratech Ltd Construction 0.71 Sheela Foam Ltd Consumer Durables 0.69 Jindal Steel & Power Ltd. Ferrous Metals 0.68 MRF Limited Auto Ancillaries 0.67 ICICI Securities Ltd Finance and Investments 0.64 HDFC Asset Management Company Ltd. Finance 0.28 D-Link (India) Ltd Hardware 0.24 Sundaram Finance Holdings Limited. Finance 0.11 Equity & Equity Related - Total Options CNX NIFTY Put Option - September Options Total 0.07 Term deposits HDFC Bank Ltd Term Deposits - Total 0.14 Collateral Borrowing & Lending obligation 1.46 Net Current / (Liabilities) 0.22 Grand Total Benchmark Financial Services Industrial Manufacturing Consumer Goods Pharma Automobile Chemicals Construction Fertilisers & Pesticides Cement & Cement Products Services Data as on August 31, 2018 Product Label LOW Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: 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. HIGH Monthly SIP of ( `) Total amount invested ( `) Total Value as on Aug 31, 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 13,80,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 40,99,180 34,63,357 18,50,828 10,07,755 4,49,484 1,22, ,60,096 29,92,524 16,57,264 9,61,052 4,60,274 1,24, ,96,846 24,80,694 14,42,208 8,82,533 4,78,398 1,35, 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. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak Emerging Equity NAV as on August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *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 With Effect from 25th May 2018, the Benchmark 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* AAUM: AUM: Investment Objective 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 Benchmark: Nifty 200 Allotment date: September 9, 2004 Folio count: 1,38,675 Source: ICRA MFI Explorer. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1% b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units: NIL Total Expense Ratio** Regular: 2.10%; Direct: 1.02% 97.35% % Equity & Equity related HDFC Bank Ltd. Banks 6.02 Reliance Industries Ltd. Petroleum Products 5.56 Tata Consultancy Services Ltd. Software 4.98 Infosys Ltd. Software 4.49 Bharat Financial Inclusion Limited Finance 4.19 ICICI Bank Ltd. Banks 3.92 HDFC Ltd. Finance 3.77 Larsen And Toubro Ltd. Construction Project 3.73 Gujarat State Petronet Ltd. Gas 2.85 The Ramco Cements Ltd Cement 2.42 Thermax Ltd. Industrial Capital Goods 2.41 Coromandel International Ltd. Fertilisers 2.33 Axis Bank Ltd Banks 2.27 ICICI Lombard General Insurance Company Ltd Finance 2.01 GAIL (India) Ltd. Gas 1.99 Schaeffler India Ltd Industrial Products 1.91 Bata India Ltd. Consumer Durables 1.90 Bajaj Finance Limited Finance 1.89 Jindal Steel & Power Ltd. Ferrous Metals 1.89 Shree Cement Ltd. Cement 1.84 Godrej Agrovet Ltd Consumer Non Durables 1.82 Max Financial Services Ltd. Finance 1.74 Avenue Supermarts Ltd Retailing 1.73 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.52 Jubilant Foodworks Limited Consumer Non Durables 1.51 Indraprastha Gas Ltd. Gas 1.50 Indian Bank Banks 1.49 Petronet LNG Ltd. Gas 1.45 Century Textiles & Industries Ltd. Cement 1.43 Maruti Suzuki India Limited Auto 1.42 AIA Engineering Limited Industrial Products 1.37 ITC Ltd. Consumer Non Durables 1.25 TI Financial Holding ltd. Finance 1.21 OCL India Ltd Cement 1.20 Inter Globe Aviation Ltd Transportation 1.18 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 : 51.45%, 35.97% & 10.79%. Benchmark SECTOR ALLOCATION (%) AU Small Finance Bank Ltd. Banks 1.14 DR.Lal Pathlabs Ltd Healthcare Services 1.12 Edelweiss Financial Services Ltd Finance 1.07 SRF Ltd. Textile Products 1.02 Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.00 Arvind Ltd Textile Products 0.93 Bharat Earth Movers Ltd. Industrial Capital Goods 0.90 Healthcare Global Enterprises Ltd Healthcare Services 0.90 Heritage Foods Ltd Consumer Non Durables 0.81 Emami Ltd. Consumer Non Durables 0.77 JK Cement Ltd. Cement 0.70 Linde India Ltd. Chemicals 0.68 Whirlpool of India Ltd. Consumer Durables 0.65 Equitas Holdings Ltd Finance 0.52 Simran Wind Project Ltd. Construction Project 0.49 HDFC Ltd. Warrants Finance 0.46 HDFC Asset Management Company Ltd. Finance 0.36 National Buildings Construction Corporation Limited Construction 0.35 Swaraj Engines Ltd Industrial Products 0.15 Equity & Equity Related - Total % Redm Preference Sh Zee Entertainment Enterprises Ltd Media and Entertainment 0.04 Preference Share - Total 0.04 Term deposits HDFC Bank Ltd Term Deposits - Total 0.91 Collateral Borrowing & Lending obligation 0.96 Net Current / (Liabilities) Grand Total Financial Services Energy Consumer Goods Information Technology Industrial Manufacturing Cement & Cement Products Construction Fertilisers & Pesticides Healthcare Services Textiles Data as on August 31, 2018 Product Label LOW Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: 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. HIGH Monthly SIP of ( `) Total amount invested ( `) Total Value as on August 31, 2018( `) Returns (%) Nifty 200 (TRI) ( `)# Nifty 200 (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 16,80,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 54,28,845 27,37,135 15,38,567 8,95,414 4,48,788 1,25, ,32,695 25,91,010 14,98,807 9,03,959 4,77,758 1,32, ,12,398 24,80,637 14,42,208 8,82,533 4,78,398 1,35, 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. # Benchmark ; ^ Additional Benchmark TRI - Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak Equity Opportunities Fund (Erstwhile Kotak Opportunities) NAV as on August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *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 With Effect from 1st June 2018, the Benchmark 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: AAUM: AUM: Investment Objective 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. Mr. Harish Krishnan* `1, crs `1, crs Benchmark: NIFTY 50 Allotment date: December 29, 1998 Folio count: 91,960 Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%. b) For redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units: Nil. Total Expense Ratio** Regular: 2.24%; Direct: 1.15% 73.18% % Equity & Equity related HDFC Bank Ltd. Banks 7.91 Reliance Industries Ltd. Petroleum Products 7.84 ITC Ltd. Consumer Non Durables 4.39 IndusInd Bank Ltd. Banks 4.37 Tata Consultancy Services Ltd. Software 4.08 ICICI Bank Ltd. Banks 4.02 Infosys Ltd. Software 3.68 Mahindra & Mahindra Ltd. Auto 3.50 Maruti Suzuki India Limited Auto 3.30 Larsen And Toubro Ltd. Construction Project 3.20 Tech Mahindra Ltd. Software 3.17 Axis Bank Ltd Banks 2.91 GAIL (India) Ltd. Gas 2.57 State Bank Of India Banks 2.46 Asian Paints Ltd. Consumer Non Durables 1.89 Motherson Sumi Systems Ltd. Auto Ancillaries 1.89 HDFC Ltd. Warrants Finance 1.72 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 1.62 Cadila Healthcare Ltd. Pharmaceuticals 1.61 RBL Bank Ltd Banks 1.56 Shree Cement Ltd. Cement 1.44 Sun TV Network Ltd. Media and Entertainment 1.40 Zee Entertainment Enterprises Ltd Media and Entertainment 1.38 Sanofi India Ltd. Pharmaceuticals 1.33 Dabur India Ltd Consumer Non Durables 1.32 Solar Industries India Limited Chemicals 1.21 Bandhan Bank Limited Banks 1.20 ICICI Lombard General Insurance Company Ltd Finance 1.15 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.15 Schaeffler India Ltd Industrial Products 1.13 Bata India Ltd. Consumer Durables 1.08 HDFC Ltd. Finance 1.07 Jindal Steel & Power Ltd. Ferrous Metals 0.91 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 : 81.32%, 11.05% & 5.11% SECTOR ALLOCATION (%) Ashok Leyland Ltd. Auto 0.89 Amara Raja Batteries Ltd. Auto Ancillaries 0.88 Edelweiss Financial Services Ltd Finance 0.87 The Ramco Cements Ltd Cement 0.86 Supreme Industries Limited Industrial Products 0.83 Eicher Motors Ltd Auto 0.71 Inter Globe Aviation Ltd Transportation 0.71 OCL India Ltd Cement 0.71 Britannia Industries Ltd. Consumer Non Durables 0.70 Gujarat Gas Company Ltd Gas 0.67 Nestle India Ltd. Consumer Non Durables 0.64 Yes Bank Ltd Banks 0.64 Bharat Financial Inclusion Limited Finance 0.63 Ultratech Cement Ltd. Cement 0.62 Bharat Earth Movers Ltd. Industrial Capital Goods 0.58 Bharat Petroleum Corporation Ltd. Petroleum Products 0.50 Indraprastha Gas Ltd. Gas 0.46 Coromandel International Ltd. Fertilisers 0.44 Kajaria Ceramics Ltd. Construction 0.40 MRF Limited Auto Ancillaries 0.38 Hindustan Zinc Ltd. Non - Ferrous Metals 0.10 Equity & Equity Related - Total Futures Hindustan Zinc Ltd.-SEP Yes Bank Ltd-SEP Term Deposits HDFC Bank Ltd Term Deposits - Total 0.45 Collateral Borrowing & Lending obligation 1.90 Net Current / (Liabilities) 0.97 Grand Total Benchmark Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: 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. Monthly SIP of ( `) Total amount invested ( `) Total Value as on Aug 31, 2018( `) Returns (%) Nifty 50 (TRI) ( `)# Nifty 50 (TRI) Returns (%) S&P BSE SENSEX (TRI) ( `)^ S&P BSE SENSEX (TRI) Returns (%) Financial Services Energy Consumer Goods Automobile Information Technology Pharma Construction Cement & Cement Products Media & Entertainment Industrial Manufacturing 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 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 14,33,076 8,62,676 4,48,807 1,30, ,31,34,139 24,80,694 14,42,208 8,82,533 4,78,398 1,35, ,28,00,944 25,08,604 14,52,930 8,87,000 4,85,205 1,37, 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. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). 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 August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *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

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* AAUM: AUM: Investment Objective 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 Benchmark: NIFTY Smallcap 50 Allotment date: February 24, 2005 Folio count: 58,575 Source: ICRA MFI Explorer. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units:1% b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units: NIL Total Expense Ratio** Regular: 2.44%; Direct: 1.40% 76.95% % Equity & Equity related Dixon Technologies India Ltd Consumer Durables 4.19 Atul Ltd. Chemicals 3.34 Solar Industries India Limited Chemicals 3.02 Apollo Pipes Ltd Finance and Investments Industrial Products 2.98 Simran Wind Project Ltd. Construction Project 2.77 JK Cement Ltd. Cement 2.72 RBL Bank Ltd Banks 2.70 Prataap Snacks Ltd Consumer Non Durables 2.69 V.S.T Tillers Tractors Ltd Auto 2.38 APL Apollo Tubes Limited Ferrous Metals 2.33 Schaeffler India Ltd Industrial Products 2.29 Galaxy Surfactants Ltd Chemicals 2.23 Ratnamani Metals & Tubes Ltd. Ferrous Metals 2.21 JMC Projects (India) Ltd Construction 2.14 Kewal Kiran Clothing Limited. Textile Products 2.04 Shriram City Union Finance Ltd. Finance 1.99 Carborundum Universal Ltd. Industrial Products 1.98 Hawkins Cooker Ltd Household Appliances 1.92 AU Small Finance Bank Ltd. Banks 1.83 Heritage Foods Ltd Consumer Non Durables 1.78 Finolex Cables Ltd. Industrial Products 1.75 Hindustan Oil Exploration Company Ltd. Oil 1.70 Persistent Systems Limited Software 1.70 Supreme Industries Limited Industrial Products 1.69 Eveready Industries India Ltd. Consumer Non Durables 1.68 Thermax Ltd. Industrial Capital Goods 1.68 Laurus Labs Ltd Pharmaceuticals 1.67 Lux Industries Limited Textile Products 1.67 Shoppers Stop Ltd. Retailing 1.60 Nilkamal Plastics Limited. Industrial Products 1.59 Blue Star Ltd. Consumer Durables 1.58 Mahindra Lifespace Developers Ltd Construction 1.55 IndusInd Bank Ltd. Banks 1.50 Sheela Foam Ltd Consumer Durables 1.48 Bajaj Finance Limited Finance 1.46 Amber Enterprises India Ltd Consumer Durables 1.38 SKF India Ltd Industrial Products 1.38 Note: Large Cap, Midcap and Small cap stocks as a % age of Net : 7.25%, 17.90% & 73.09% SECTOR ALLOCATION (%) The Ramco Cements Ltd Cement 1.37 Vardhman Textiles Ltd. Textiles - Cotton 1.32 Sadbhav Engineering Ltd. Construction Project 1.29 MRF Limited Auto Ancillaries 1.25 Federal Bank Ltd. Banks 1.24 Apar Industries Limited Industrial Capital Goods 1.22 Varroc Engineering Ltd. Auto Ancillaries 1.16 PVR Ltd Media and Entertainment 1.15 Mahindra & Mahindra Financial Services Ltd. Finance 1.12 Navneet Education Ltd. Media and Entertainment 1.07 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.04 Bharat Earth Movers Ltd. Industrial Capital Goods 0.98 Strides Shasun Ltd. Pharmaceuticals 0.96 Sundaram Finance Ltd. Finance 0.96 Vinati Organics Ltd Chemicals 0.86 Motherson Sumi Systems Ltd. Auto Ancillaries 0.83 Cadila Healthcare Ltd. Pharmaceuticals 0.81 Sun TV Network Ltd. Media and Entertainment 0.79 Security and Intelligence Services India Ltd Commercial Services 0.77 Shree Cement Ltd. Cement 0.69 Punjab National Bank Banks 0.53 Great Eastern Shipping Company Ltd Transportation 0.13 Solara Active Pharma Sciences Ltd. Pharmaceuticals 0.11 Sundaram Finance Holdings Limited. Finance 0.08 Equity & Equity Related - Total Options CNX NIFTY Put Option - September Options Total 0.08 Collateral Borrowing & Lending obligation 1.01 Net Current / (Liabilities) 0.59 Grand Total Benchmark Consumer Goods Financial Services Industrial Manufacturing Chemicals Automobile Construction Cement & Cement Products Pharma Metals Media & Entertainment Data as on August 31, 2018 Product Label LOW Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: 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. HIGH Monthly SIP of ( `) Total amount invested ( `) Total Value as on Aug 31, 2018( `) Returns (%) Nifty Smallcap 50 (TRI) ( `)# Nifty Smallcap 50 (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 16,30,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 51,32,067 31,69,302 16,66,980 9,32,112 4,30,516 1,18, NA 22,09,037 13,72,774 8,19,987 4,04,815 1,10,864 NA ,35,174 24,80,694 14,42,208 8,82,533 4,78,398 1,35, Inception : - February 24,2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak Small Cap Fund (Erstwhile Kotak Midcap ) as on August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), `76.762(Growth Option), ` (Direct Growth Option) *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 With Effect from 25th May 2018, the Benchmark 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* AAUM: AUM: Investment Objective 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 Benchmark: Nifty 500 Allotment date: November 23, 2005 Folio count: 1,33,386 Source: ICRA MFI Explorer. Minimum Investment Amount Initial Investment: `500 and in multiple of `500 Additional Investment: `500 & in multiples of `500 Ideal Investments Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Exit Load is not applicable for Kotak Tax Saver. (applicable for all plans) Total Expense Ratio** Regular: 2.33%; Direct: 1.37% 79.19% % Equity & Equity related Reliance Industries Ltd. Petroleum Products 7.13 HDFC Bank Ltd. Banks 6.12 ICICI Bank Ltd. Banks 5.54 Tata Consultancy Services Ltd. Software 4.37 Larsen And Toubro Ltd. Construction Project 4.15 Infosys Ltd. Software 4.01 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 3.82 HDFC Ltd. Finance 3.60 AU Small Finance Bank Ltd. Banks 3.59 Bharat Financial Inclusion Limited Finance 3.15 Shree Cement Ltd. Cement 2.81 RBL Bank Ltd Banks 2.37 Bajaj Finance Limited Finance 2.30 GAIL (India) Ltd. Gas 2.30 SKF India Ltd Industrial Products 2.22 Ultratech Cement Ltd. Cement 2.22 Whirlpool of India Ltd. Consumer Durables 2.20 Thermax Ltd. Industrial Capital Goods 2.17 OCL India Ltd Cement 1.90 Mahanagar Gas Ltd Gas 1.86 Hindustan Unilever Ltd. Consumer Non Durables 1.65 Solar Industries India Limited Chemicals 1.62 Axis Bank Ltd Banks 1.61 Bata India Ltd. Consumer Durables 1.61 Nestle India Ltd. Consumer Non Durables 1.43 The Ramco Cements Ltd Cement 1.28 Cadila Healthcare Ltd. Pharmaceuticals 1.25 Maruti Suzuki India Limited Auto 1.13 SRF Ltd. Textile Products 1.13 AIA Engineering Limited Industrial Products 1.09 Gujarat State Petronet Ltd. Gas 1.07 UPL Ltd Pesticides 1.06 Amara Raja Batteries Ltd. Auto Ancillaries 1.05 APL Apollo Tubes Limited Ferrous Metals 1.01 Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.01 Arvind Ltd Textile Products 0.99 Simran Wind Project Ltd. Construction Project 0.98 Hindustan Oil Exploration Company Ltd. Oil 0.97 Jindal Steel & Power Ltd. Ferrous Metals 0.96 Vedanta Ltd. Non - Ferrous Metals 0.92 Hindalco Industries Ltd Non - Ferrous Metals 0.88 Container Corporation of India Ltd. Transportation 0.81 JMC Projects (India) Ltd Construction 0.77 Linde India Ltd. Chemicals 0.75 Max Financial Services Ltd. Finance 0.75 Hawkins Cooker Ltd Household Appliances 0.64 Strides Shasun Ltd. Pharmaceuticals 0.61 SpiceJet Ltd. Transportation 0.54 KSB Pump Ltd Industrial Products 0.37 Blue Dart Express Ltd. Transportation 0.36 Laurus Labs Ltd Pharmaceuticals 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 1.70 Net Current / SECTOR ALLOCATION (%) (Liabilities) Grand Total Benchmark Financial Services Energy Consumer Goods Information Technology Cement & Cement Products Industrial Manufacturing Construction Metals Chemicals Services Data as on August 31, 2018 Product Label This product is suitable for investors who are seeking*: long term capital growth with a 3 year lock in Investment in portfolio of predominantly equity & equity related securities. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. 7 LOW Investors understand that their principal will be at moderately high risk HIGH Monthly SIP of ( `) Total amount invested ( `) Total Value as on Aug 31, 2018 ( `) Returns (%) Nifty 500 (TRI) ( `)# Nifty 500 (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 15,40,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 36,70,184 25,97,276 15,01,752 9,00,862 4,51,374 1,28, ,16,698 26,13,545 15,11,096 9,08,492 4,75,490 1,31, ,60,500 24,80,694 14,42,208 8,82,533 4,78,398 1,35, 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. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak Tax Saver NAV as on August 31, 2018: `20.05 (Dividend Option), ` (Direct Dividend Option), ` (Growth Option) ` (Direct Growth Option) *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

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: AAUM: AUM: Investment Objective 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. Mr. Harish Krishnan* ` crs ` crs Benchmark: India Infrastructure Index (Customised Index by IISL) Allotment date: February 25, 2008 Folio count: 26,230 Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in... multiples of `1 Ideal Investments Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of... allotment of units: 1%; b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of... allotment of units: NIL; Total Expense Ratio** Regular: 2.51%; Direct: 1.22% 38.14% % Equity & Equity related Shree Cement Ltd. Cement 5.02 Larsen And Toubro Ltd. Construction Project 4.99 Ultratech Cement Ltd. Cement 3.91 GAIL (India) Ltd. Gas 3.87 Indraprastha Gas Ltd. Gas 3.85 Solar Industries India Limited Chemicals 3.62 Schaeffler India Ltd Industrial Products 3.31 Supreme Industries Limited Industrial Products 3.07 Thermax Ltd. Industrial Capital Goods 3.07 SKF India Ltd Industrial Products 2.97 Container Corporation of India Ltd. Transportation 2.88 Gujarat Gas Company Ltd Gas 2.78 Bharat Earth Movers Ltd. Industrial Capital Goods 2.69 GE Power India Limited Industrial Capital Goods 2.66 AIA Engineering Limited Industrial Products 2.53 Hindustan Oil Exploration Company Ltd. Oil 2.48 Kirloskar Oil Engines Ltd. Industrial Products 2.32 Cummins India Ltd. Industrial Products 2.12 H G Infra Engineering Ltd. Construction Project 2.07 JK Tyre & Industries Ltd. Auto Ancillaries 2.03 JMC Projects (India) Ltd Construction 2.01 National Thermal Power Corporation Limited Power 1.90 Amara Raja Batteries Ltd. Auto Ancillaries 1.87 Kajaria Ceramics Ltd. Construction 1.81 AU Small Finance Bank Ltd. Banks 1.79 Petronet LNG Ltd. Gas 1.78 CESC Ltd. Power 1.76 The Ramco Cements Ltd Cement 1.69 Benchmark Sterlite Technologies Ltd Telecom - Equipment & Accessories 1.64 APL Apollo Tubes Limited Ferrous Metals 1.63 Sadbhav Engineering Ltd. Construction Project 1.45 Tejas Networks Ltd Telecom - Equipment & Accessories 1.44 OCL India Ltd Cement 1.31 PNC Infratech Ltd Construction 1.20 Bharat Electronics Ltd Industrial Capital Goods 1.19 WPIL Ltd Industrial Products 1.19 GMR Infrastructure Ltd. Construction Project 1.17 Jindal Steel & Power Ltd. Ferrous Metals 1.17 Ratnamani Metals & Tubes Ltd. Ferrous Metals 1.15 Mahindra Lifespace Developers Ltd Construction 1.01 Ashok Leyland Ltd. Auto 1.00 Huhtamaki PPL Ltd Industrial Products 0.89 Kalpataru Power Transmission Ltd. Power 0.87 Simplex Infrastructures Ltd Construction 0.86 Linde India Ltd. Chemicals 0.80 Simran Wind Project Ltd. Construction Project 0.65 Inter Globe Aviation Ltd Transportation 0.62 Capacite Infraprojects Limited Construction 0.60 Bharti Airtel Ltd. Telecom - Services 0.25 Equity & Equity Related - Total Collateral Borrowing & Lending obligation 0.38 Net Current / SECTOR ALLOCATION (%) (Liabilities) 0.68 Grand Total Industrial Manufacturing Energy Construction Cement & Cement Products Services Automobile Chemicals Metals Financial Services Telecom Data as on August 31, 2018 Product Label LOW Investors understand that their principal will be at high risk This product is suitable for investors who are seeking*: Long term capital growth Long term capital appreciation by investing in equity and equity related instruments of companies contributing to infrastructure and economic development of India * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. HIGH Monthly SIP of ` Total amount invested ( `) Total Value as on August 31, 2018( `) Returns (%) India Infrastructure Index (Customised Index by IISL) (TRI) ( `)# SYSTEMATIC INVESTMENT PLAN (SIP) 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 (%) Since Inception 10 years 7 years 5 years 3 years 1 year 12,70,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 26,64,173 24,83,577 14,58,294 8,61,418 4,14,576 1,14, ,18,212 16,30,822 10,93,962 7,21,999 4,03,428 1,17, ,78,137 24,80,694 14,42,208 8,82,533 4,78,398 1,35, 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. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak Infrastructure & Economic Reform Fund NAV as on August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *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 With Effect from 25th May 2018, the Benchmark 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: AAUM: AUM: Investment Objective 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 Benchmark: NIFTY 100 Allotment date: July 27, 2005 Folio count: 32,573 Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%. b) For redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units: Nil. Total Expense Ratio** Regular: 2.82%; Direct: 1.76% 44.19% % Equity & Equity related Reliance Industries Ltd. Petroleum Products 6.38 Infosys Ltd. Software 4.84 Bajaj Finance Limited Finance 4.57 Mahindra & Mahindra Ltd. Auto 4.39 Tata Consultancy Services Ltd. Software 4.06 Hindustan Unilever Ltd. Consumer Non Durables 3.91 Maruti Suzuki India Limited Auto 3.68 ITC Ltd. Consumer Non Durables 3.66 Tech Mahindra Ltd. Software 3.39 Bharat Financial Inclusion Limited Finance 3.34 Titan Company Ltd. Consumer Durables 3.12 Asian Paints Ltd. Consumer Non Durables 3.08 Larsen And Toubro Ltd. Construction Project 2.93 GAIL (India) Ltd. Gas 2.16 Jubilant Foodworks Limited Consumer Non Durables 1.71 Biocon Ltd. Pharmaceuticals 1.66 Britannia Industries Ltd. Consumer Non Durables 1.65 JSW Steel Ltd. Ferrous Metals 1.33 HCL Technologies Ltd. Software 1.28 Tata Steel Limited. Ferrous Metals 1.27 Ashok Leyland Ltd. Auto 1.16 HDFC Asset Management Company Ltd. Finance 1.14 Wipro Ltd. Software 1.09 Edelweiss Financial Services Ltd Finance 0.99 ACC Ltd. Cement 0.95 Dabur India Ltd Consumer Non Durables 0.92 Jindal Steel & Power Ltd. Ferrous Metals 0.91 Voltas Ltd. Construction Project 0.91 Bharat Forge Ltd. Industrial Products 0.83 Bharti Airtel Ltd. Telecom - Services 0.75 United Spirits Ltd. Consumer Non Durables 0.69 Zee Entertainment Enterprises Ltd Media and Entertainment 0.66 RBL Bank Ltd Banks 0.54 HDFC Ltd. Warrants Finance 0.52 Shriram Transport Finance Co Ltd. Finance 0.41 Inter Globe Aviation Ltd Transportation 0.40 Motherson Sumi Systems Ltd. Auto Ancillaries 0.39 Note: #Term Deposit as provided above is towards margin for derivatives transactions Equity Derivative Exposuer is 10.17% SECTOR ALLOCATION (%) AU Small Finance Bank Ltd. Banks 0.36 ICICI Bank Ltd. Banks 0.35 Bajaj Finserv Ltd. Finance 0.34 Indraprastha Gas Ltd. Gas 0.33 Sun TV Network Ltd. Media and Entertainment 0.32 IndusInd Bank Ltd. Banks 0.30 State Bank Of India Banks 0.30 Godrej Agrovet Ltd Consumer Non Durables 0.29 Aditya Birla Capital Ltd Finance 0.28 HDFC Ltd. Finance 0.28 Mahindra & Mahindra Financial Services Ltd. Finance 0.27 Amber Enterprises India Ltd Consumer Durables 0.25 Tata Communications Ltd Telecom - Services 0.24 Avenue Supermarts Ltd Retailing 0.21 Eris Lifesciences Ltd Pharmaceuticals 0.18 Eicher Motors Ltd Auto 0.09 HDFC Bank Ltd. Banks 0.08 Hindustan Petroleum Corporation Ltd Petroleum Products 0.06 Tata Steel Limited (Partly Paid Shares) Ferrous Metals 0.03 Equity & Equity Related - Total % Vedanta Reedemable Preference Shares Non - Ferrous Metals 0.03 Preference Share - Total 0.03 Futures HDFC Bank Ltd.-SEP CNX NIFTY-SEP Infosys Ltd.-SEP Larsen And Toubro Ltd.-SEP Term Deposits HDFC Bank Ltd IDFC Bank Limited 0.18 Term Deposits - Total 2.35 Collateral Borrowing & Lending obligation Net Current / (Liabilities) Grand Total Benchmark Consumer Goods Financial Services Information Technology Automobile Cash & Cash Equivalent Energy Others Construction Metals Pharma Data as on August 31, 2018 Product Label LOW Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: Long term capital growth Investment in portfolio of predominantly equity & equity related securities * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. HIGH Monthly SIP of ` Total amount invested ( `) Total Value as on Aug 31, 2018( `) Returns (%) Nifty 100 (TRI) ( `)# Nifty 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 15,80,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 41,66,169 26,90,717 15,37,373 9,20,951 4,87,964 1,33, ,02,474 25,98,237 14,88,321 8,99,052 4,79,211 1,33, ,92,440 24,80,694 14,42,208 8,82,533 4,78,398 1,35, Inception : - July 27,2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak India EQ Contra Fund (Erstwhile Kotak Classic Equity) NAV as on August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) *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

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* AAUM: AUM: Investment Objective 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 Benchmark: Nifty 200 Allotment date: Feb 20, 2018 Folio count: 15,137 Source: ICRA MFI Explorer. Minimum Investment Amount The scheme is a close ended scheme. The units of the scheme can be traded on the stock exchange. Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil. (applicable for all plans) Total Expense Ratio** Regular: 2.51%; Direct: 1.32% 42.71% Equity & Equity related ITC Ltd. Consumer Non Durables 9.83 Bata India Ltd. Consumer Durables 5.12 Tata Motors Ltd. Auto 5.06 Sun TV Network Ltd. Media and Entertainment 4.45 Mahindra & Mahindra Ltd. Auto 3.88 City Union Bank Ltd. Banks 3.69 CESC Ltd. Power 3.06 ICICI Bank Ltd. Banks 2.98 RBL Bank Ltd Banks 2.96 Emami Ltd. Consumer Non Durables 2.64 Bank Of Baroda Banks 2.53 Tech Mahindra Ltd. Software 2.35 Axis Bank Ltd Banks 2.28 GMR Infrastructure Ltd. Construction Project 2.19 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 2.18 HDFC Ltd. Warrants Finance 2.18 Indian Bank Banks 2.12 Bharat Forge Ltd. Industrial Products 2.09 Jammu and Kashmir Bank Ltd. Banks 2.09 Jindal Steel & Power Ltd. Ferrous Metals 2.09 Eris Lifesciences Ltd Pharmaceuticals 2.07 Eicher Motors Ltd Auto 1.99 JMC Projects (India) Ltd Construction 1.94 Motherson Sumi Systems Ltd. Auto Ancillaries 1.94 Prataap Snacks Ltd Consumer Non Durables 1.85 Asian Paints Ltd. Consumer Non Durables 1.78 The Ramco Cements Ltd Cement 1.68 Abbott India Ltd. Pharmaceuticals 1.57 Dalmia Bharat Ltd. Cement 1.55 Note: #Term Deposit as provided above is towards margin for derivatives transactions Equity Derivative Exposuer is 8.06% SECTOR ALLOCATION (%) IndusInd Bank Ltd. Banks 1.36 State Bank Of India Banks 1.21 Century Textiles & Industries Ltd. Cement 1.16 Bharat Earth Movers Ltd. Industrial Capital Goods 1.09 Saregama India Ltd. Media and Entertainment 1.09 Hero MotoCorp Ltd. Auto 0.98 HDFC Bank Ltd. Banks 0.90 Titan Company Ltd. Consumer Durables 0.03 Equity & Equity Related - Total Options CNX NIFTY Put Option - December Options Total 0.21 Futures HDFC Bank Ltd.-SEP IndusInd Bank Ltd.-SEP Titan Company Ltd.-SEP Inter Globe Aviation Ltd-SEP Term Deposits RBL Bank Ltd HDFC Bank Ltd Term Deposits - Total 1.42 Collateral Borrowing & Lending obligation 6.57 Net Current / (Liabilities) 1.84 Grand Total % Benchmark Financial Services Consumer Goods Automobile Media & Entertainment Cement & Cement Products Construction Pharma Industrial Manufacturing Energy Information Technology Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: 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 August 31, 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 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* AAUM: AUM: Investment Objective 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 Benchmark: Nifty 200 Allotment date: Feb 20, 2018 Folio count: 4,606 Source: ICRA MFI Explorer. Minimum Investment Amount The scheme is a close ended scheme. The units of the scheme can be traded on the stock exchange. Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil. (applicable for all plans) Total Expense Ratio** Regular: 2.63%; Direct: 2.44% 2.94% Equity & Equity related Reliance Industries Ltd. Petroleum Products 9.99 HDFC Bank Ltd. Banks 8.35 Mahindra & Mahindra Ltd. Auto 4.93 Bandhan Bank Limited Banks 4.08 Bharat Financial Inclusion Limited Finance 3.27 Coromandel International Ltd. Fertilisers 3.22 Motherson Sumi Systems Ltd. Auto Ancillaries 3.19 Amara Raja Batteries Ltd. Auto Ancillaries 3.08 Sun TV Network Ltd. Media and Entertainment 2.94 Tata Motors Ltd. Auto 2.90 APL Apollo Tubes Limited Ferrous Metals 2.88 Laurus Labs Ltd Pharmaceuticals 2.80 GAIL (India) Ltd. Gas 2.71 Mahindra Lifespace Developers Ltd Construction 2.64 Vinati Organics Ltd Chemicals 2.53 Future Retail Ltd. Retailing 2.35 Varroc Engineering Ltd. Auto Ancillaries 2.35 Hindustan Oil Exploration Company Ltd. Oil 2.32 Schaeffler India Ltd Industrial Products 2.29 GE Power India Limited Industrial Capital Goods 2.25 Edelweiss Financial Services Ltd Finance 2.15 Tejas Networks Ltd Telecom - Equipment & Note: #Term Deposit as provided above is towards margin for derivatives transactions Equity Derivative Exposuer is 3.01% Sun Pharmaceuticals Accessories 2.04 Industries Ltd. Pharmaceuticals 1.98 IndusInd Bank Ltd. Banks 1.95 Ashok Leyland Ltd. Auto 1.77 RBL Bank Ltd Banks 1.76 CRISIL Ltd. Finance 1.71 Bajaj Finance Limited Finance 1.64 AIA Engineering Limited Industrial Products 1.58 Saregama India Ltd. Media and Entertainment 1.54 Inter Globe Aviation Ltd Transportation 1.34 HDFC Asset Management Company Ltd. Finance 1.20 Solar Industries India Limited Chemicals 1.08 Equity & Equity Related - Total Futures CNX NIFTY-SEP Term Deposits HDFC Bank Ltd Term Deposits - Total 5.11 Collateral Borrowing & Lending obligation 2.09 Net Current / SECTOR ALLOCATION (%) (Liabilities) Grand Total Banks Petroleum Products Finance Auto Auto Ancillaries CBLO & Term Deposits & Rev.Repo Pharmaceuticals Media and Entertainment Industrial Products Chemicals REST Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: 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 August 31, 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 last three dividends, please refer page no For scheme performance, please refer page no

17 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* AAUM: AUM: Investment Objective 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 `12, crs `11, crs Benchmark: Nifty 50 Arbitrage Allotment date: September 29, 2005 Folio count: 24,133 Source: ICRA MFI Explorer. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 months & above Load Structure 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 Total Expense Ratio** Regular: 0.94%; Direct: 0.47% Data as on August 31, 2018 Product Label LOW % % Investors understand that their principal will be at moderately low risk This product is suitable for investors who are seeking*: Income from arbitrage opportunities in the equity market Investment in arbitrage opportunities in the cash & derivatives segment of the equity market. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. HIGH % to Net Derivatives Equity & Equity related Hedged Indiabulls Housing Finance Ltd. Finance Tata Steel Limited. Ferrous Metals Britannia Industries Ltd. Consumer Non Durables Maruti Suzuki India Limited Auto Bajaj Finance Limited Finance Yes Bank Ltd Banks Bajaj Auto Ltd. Auto Bank Of Baroda Banks Divi s Laboratories Limited Pharmaceuticals Aurobindo Pharma Ltd. Pharmaceuticals Marico Ltd. Consumer Non Durables Mahindra & Mahindra Financial Services Ltd. Finance United Spirits Ltd. Consumer Non Durables Nestle India Ltd. Consumer Non Durables Hindustan Petroleum Corporation Ltd Petroleum Products Bharat Forge Ltd. Industrial Products Biocon Ltd. Pharmaceuticals Shriram Transport Finance Co Ltd. Finance Titan Company Ltd. Consumer Durables Cadila Healthcare Ltd. Pharmaceuticals Wipro Ltd. Software Bajaj Finserv Ltd. Finance Dewan Housing Finance Corporation Ltd. Finance MindTree Ltd. Software L&T Finance Holdings Ltd Finance Godrej Consumer Products Ltd. Consumer Non Durables Punjab National Bank Banks Tech Mahindra Ltd. Software JSW Steel Ltd. Ferrous Metals Idea Cellular Ltd. Telecom - Services Steel Authority of India Ltd. Ferrous Metals Bosch Limited Auto Ancillaries Grasim Industries Ltd. Cement Jubilant Foodworks Limited Consumer Non Durables Vedanta Ltd. Non - Ferrous Metals IDFC Limited Finance Federal Bank Ltd. Banks Zee Entertainment Enterprises Ltd Media and Entertainment Bharat Petroleum Corporation Ltd. Petroleum Products Petronet LNG Ltd. Gas ICICI Prudential Life Insurance Company Ltd Finance Piramal Enterprises Limited Pharmaceuticals Balkrishna Industries Ltd Auto Ancillaries Power Finance Corporation Ltd. Finance Hindalco Industries Ltd Non - Ferrous Metals Tata Motors Ltd - DVR Auto Tata Power Co. Ltd. Power Infosys Ltd. Software Sun TV Network Ltd. Media and Entertainment United Breweries Ltd. Consumer Non Durables NMDC Ltd. Minerals/Mining Glenmark Pharmaceuticals Ltd Pharmaceuticals Pidilite Industries Ltd. Chemicals Siemens Ltd. Industrial Capital Goods Colgate Palmolive (India ) Ltd. Consumer Non Durables Exide Industries Ltd Auto Ancillaries National Aluminium Company Ltd Non - Ferrous Metals Rural Electrification Corporation Ltd Finance UPL Ltd Pesticides Escorts Ltd. Auto Dish TV India Ltd. Media and Entertainment Reliance Infrastructure Ltd Power Jindal Steel & Power Ltd. Ferrous Metals Canara Bank Banks CESC Ltd. Power Asian Paints Ltd. Consumer Non Durables MRF Limited Auto Ancillaries IDFC Bank Limited Banks Ambuja Cements Ltd Cement RBL Bank Ltd Banks Cholamandalam Investment and Finance Company Ltd Finance DLF Limited Construction GAIL (India) Ltd. Gas GMR Infrastructure Ltd. 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

18 KOTAK EQUITY ARBITRAGE An open-ended scheme investing in arbitrage opportunities % to Net Derivatives Mahindra & Mahindra Ltd. Auto NCC Limited Construction Project Dabur India Ltd Consumer Non Durables Tata Elxsi Ltd. Software Adani Enterprises Ltd Trading Century Textiles & Industries Ltd. Cement Godrej Industries Ltd Consumer Non Durables Motherson Sumi Systems Ltd. Auto Ancillaries Oracle Financial Services Software Ltd Software Bharat Electronics Ltd Industrial Capital Goods Ujjivan Financial Services Ltd Finance KPIT Technologies LImited Software Mahanagar Gas Ltd Gas Ashok Leyland Ltd. Auto Kajaria Ceramics Ltd. Construction PVR Ltd Media and Entertainment Adani Port and Special Economic Zone Limited Transportation Dr Reddys Laboratories Ltd Pharmaceuticals Union Bank Of India Banks Adani Power Ltd Power Apollo Hospitals Enterprises Ltd. Healthcare Services SRF Ltd. Textile Products Indian Oil Corporation Ltd Petroleum Products National Buildings Construction Corporation Limited Construction Hexaware Technologies Ltd. Software Strides Shasun Ltd. Pharmaceuticals Tata Global Beverages Limited Consumer Non Durables Castrol (India ) Ltd. Petroleum Products Apollo Tyres Ltd. Auto Ancillaries Indian Bank Banks Suzlon Energy Ltd. Industrial Capital Goods Capital First Ltd Finance Cummins India Ltd. Industrial Products Equitas Holdings Ltd Finance Karnataka Bank Ltd Banks Raymond Limited Textile Products Reliance Capital Ltd. Finance Industrial Development Bank of India Ltd. Banks Hero MotoCorp Ltd. Auto The South Indian Bank Ltd. Banks CG Power and Industrial Solutions Limited Industrial Capital Goods Engineers India Ltd. Construction Project Reliance Communications Ltd. Telecom - Services Shree Cement Ltd. Cement Havells India Ltd. Consumer Durables India Cements Ltd. Cement Tata Chemicals Ltd. Chemicals Torrent Pharmaceuticals Ltd. Pharmaceuticals TV18 Broadcast Ltd Media and Entertainment Tata Motors Ltd. Auto Wockhardt Ltd. Pharmaceuticals Axis Bank Ltd Banks Can Fin Homes Ltd. Finance Manappuram Finance Ltd Finance Reliance Power Ltd Power HDFC Ltd. Finance IRB Infrastructure Developers Ltd Construction LIC Housing Finance Ltd. Finance NIIT Technologies Ltd Software Reliance Industries Ltd. Petroleum Products Tata Communications Ltd Telecom - Services Bank of India Banks Bharat Heavy Electricals Ltd. Industrial Capital Goods Container Corporation of India Ltd. Transportation Gujarat State Fertilizers & Chemicals Ltd. Fertilisers Sun Pharmaceuticals Industries Ltd. Pharmaceuticals Ajanta Pharma Ltd. Pharmaceuticals ICICI Bank Ltd. Banks Max Financial Services Ltd. Finance Muthoot Finance Ltd Finance ACC Ltd. Cement Bharat Financial Inclusion Limited Finance CEAT Ltd. Auto Ancillaries Granules India Ltd. Pharmaceuticals Jain Irrigation Systems Ltd. Industrial Products HCL Technologies Ltd. Software

19 KOTAK EQUITY ARBITRAGE An open-ended scheme investing in arbitrage opportunities % to Net Derivatives IFCI Ltd. Finance Jaiprakash Associates Ltd Cement Lupin Ltd. Pharmaceuticals PC Jeweller Ltd Consumer Durables Bharti Infratel Ltd. Telecom - Equipment & Accessories Kaveri Seed Company Ltd. Consumer Non Durables Bharti Airtel Ltd. Telecom - Services Eicher Motors Ltd Auto Godfrey Phillips India Ltd. Consumer Non Durables Hindustan Construction Co.Ltd Construction Project PTC India Ltd. Power SREI Infrastructure Finance Ltd Finance Syndicate Bank Banks Andhra Bank Banks Balrampur Chini Mills Ltd Consumer Non Durables Bharat Earth Movers Ltd. Industrial Capital Goods Development Credit Bank Ltd. Banks Chennai Petroleum Corporation Ltd Petroleum Products Dalmia Bharat Ltd. Cement Indraprastha Gas Ltd. Gas NHPC Limited Power V-Guard Industries Ltd. Industrial Capital Goods Amara Raja Batteries Ltd. Auto Ancillaries Larsen And Toubro Ltd. Construction Project Mangalore Refinery And Petrochemicals Ltd. Petroleum Products Oil India Limited Oil Torrent Power Ltd Power Allahabad Bank. Banks Hindustan Unilever Ltd. Consumer Non Durables ITC Ltd. Consumer Non Durables Just Dial Limited Software Tata Consultancy Services Ltd. Software Voltas Ltd. Construction Project Hedged - Total Equity & Equity Related - Total Mutual Fund Units Kotak Corporate Bond Fund Direct Growth Mutual Fund Units 0.48 Mutual Fund Units - Total 0.48 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions HDFC Ltd. CRISIL AAA 2.39 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 2.00 Corporate Debt/Financial Institutions - Total 4.39 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Sundaram Finance Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 0.64 Term deposits HDFC Bank Ltd AXIS Bank Ltd IDFC Bank Limited 1.78 IndusInd Bank Ltd Term Deposits - Total Collateral Borrowing & Lending obligation 0.33 Net Current /(Liabilities) Grand Total Note:Term Deposit as provided above is towards margin for derivatives transactions SECTOR ALLOCATION (%) CBLO & Term Deposits & Rev.Repo Finance Consumer Non Durables Banks Pharmaceuticals Auto Debentures and Bonds Ferrous Metals Software Auto Ancillaries REST Kotak Equity Arbitrage NAV as on August 31, 2018: ` (Monthly Dividend Option), ` (Direct monthly Dividend Option), ` (Growth Option), ` (Direct Growth Option), ` (Bimonthly Option), ` (Direct Bimonthly Option), ` (Fortnightly Dividend), ` (Direct Fortnightly Dividend) 17

20 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: AAUM: AUM: Investment Objective 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 Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Load Structure 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. Total Expense Ratio** Regular: 2.38%; Direct: 0.98% Product Label LOW Mr. Deepak Gupta, Mr. Harish Krishnan & Mr. Abhishek Bisen* `1, crs `2, crs Benchmark: NIFTY 50 Hybrid Composite Debt 50:50 Index Allotment date: August 3, 2018 Folio count: 57,425 Data as on August 31, 2018 Investors understand that their principal will be at moderately high risk HIGH This product is suitable for investors who are seeking*: 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 Hindustan Zinc Ltd.-SEP Reliance Industries Ltd. Petroleum Products 3.00 HDFC Bank Ltd. Banks 2.87 Bharat Financial Inclusion Limited Finance 1.70 Tata Consultancy Services Ltd. Software 1.63 Infosys Ltd. Software 1.49 ITC Ltd. Consumer Non Durables 1.47 ICICI Bank Ltd. Banks 1.44 Axis Bank Ltd Banks 1.27 Tech Mahindra Ltd. Software 1.11 Mahindra & Mahindra Ltd. Auto 1.08 State Bank Of India Banks 1.01 Maruti Suzuki India Limited Auto 0.98 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.88 Larsen And Toubro Ltd. Construction Project 0.86 Asian Paints Ltd. Consumer Non Durables 0.84 Ashok Leyland Ltd. Auto 0.74 GAIL (India) Ltd. Gas 0.74 HDFC Ltd. Warrants Finance 0.66 Sun TV Network Ltd. Media and Entertainment 0.65 Gujarat Gas Company Ltd Gas 0.57 Dabur India Ltd Consumer Non Durables 0.56 Motherson Sumi Systems Ltd. Auto Ancillaries 0.55 APL Apollo Tubes Limited Ferrous Metals 0.51 Bandhan Bank Limited Banks 0.48 Edelweiss Financial Services Ltd Finance 0.48 RBL Bank Ltd Banks 0.48 The Ramco Cements Ltd Cement 0.48 Coromandel International Ltd. Fertilisers 0.43 Shree Cement Ltd. Cement 0.41 Ultratech Cement Ltd. Cement 0.41 Non-Hedged- Total Hedged Punjab National Bank Banks Dewan Housing Finance Corporation Ltd. Finance National Aluminium Company Ltd Non - Ferrous Metals Tata Motors Ltd - DVR Auto Strides Shasun Ltd. Pharmaceuticals Mahanagar Gas Ltd Gas KPIT Technologies LImited Software NCC Limited Construction Project Indian Bank Banks Industrial Development Bank of India Ltd. Banks Raymond Limited Textile Products Reliance Infrastructure Ltd Power Escorts Ltd. Auto Reliance Communications Ltd. Telecom - Services Cadila Healthcare Ltd. Pharmaceuticals Tata Elxsi Ltd. Software Yes Bank Ltd Banks PC Jeweller Ltd Consumer Durables Ujjivan Financial Services Ltd Finance GMR Infrastructure Ltd. Construction Project Maruti Suzuki India Limited Auto Idea Cellular Ltd. Telecom - Services Granules India Ltd. Pharmaceuticals Power Finance Corporation Ltd. Finance Adani Power Ltd Power Sun TV Network Ltd. Media and Entertainment Grasim Industries Ltd. Cement Indiabulls Housing Finance Ltd. Finance Jubilant Foodworks Limited Consumer Non Durables Bajaj Finance Limited Finance CG Power and Industrial Solutions Limited Industrial Capital Goods Union Bank Of India Banks *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

21 KOTAK BALANCED ADVANTAGE FUND An open ended dynamic asset allocation fund % to Net Derivatives PVR Ltd Media and Entertainment Bank of India Banks Balkrishna Industries Ltd Auto Ancillaries Kajaria Ceramics Ltd. Construction Apollo Tyres Ltd. Auto Ancillaries PTC India Ltd. Power Steel Authority of India Ltd. Ferrous Metals Apollo Hospitals Enterprises Ltd. Healthcare Services Bank Of Baroda Banks Indian Oil Corporation Ltd Petroleum Products Piramal Enterprises Limited Pharmaceuticals Jain Irrigation Systems Ltd. Industrial Products Karnataka Bank Ltd Banks Wockhardt Ltd. Pharmaceuticals Adani Port and Special Economic Zone Limited Transportation SRF Ltd. Textile Products TV18 Broadcast Ltd Media and Entertainment SREI Infrastructure Finance Ltd Finance Chennai Petroleum Corporation Ltd Petroleum Products Divi s Laboratories Limited Pharmaceuticals Godrej Consumer Products Ltd. Consumer Non Durables Jaiprakash Associates Ltd Cement UPL Ltd Pesticides Capital First Ltd Finance L&T Finance Holdings Ltd Finance Motherson Sumi Systems Ltd. Auto Ancillaries Indraprastha Gas Ltd. Gas Tata Chemicals Ltd. Chemicals NMDC Ltd. Minerals/Mining Reliance Power Ltd Power Shriram Transport Finance Co Ltd. Finance Suzlon Energy Ltd. Industrial Capital Goods Bharat Petroleum Corporation Ltd. Petroleum Products CESC Ltd. Power Exide Industries Ltd Auto Ancillaries Petronet LNG Ltd. Gas Dr Reddys Laboratories Ltd Pharmaceuticals IRB Infrastructure Developers Ltd Construction Ajanta Pharma Ltd. Pharmaceuticals GAIL (India) Ltd. Gas ICICI Prudential Life Insurance Company Ltd Finance India Cements Ltd. Cement JSW Steel Ltd. Ferrous Metals Just Dial Limited Software V-Guard Industries Ltd. Industrial Capital Goods Balrampur Chini Mills Ltd Consumer Non Durables MRF Limited Auto Ancillaries NIIT Technologies Ltd Software State Bank Of India Banks Tata Consultancy Services Ltd. Software Bosch Limited Auto Ancillaries United Spirits Ltd. Consumer Non Durables Wipro Ltd. Software Ambuja Cements Ltd Cement Bharat Forge Ltd. Industrial Products Castrol (India ) Ltd. Petroleum Products Engineers India Ltd. Construction Project Gujarat State Fertilizers & Chemicals Ltd. Fertilisers IDFC Bank Limited Banks Mahindra & Mahindra Financial Services Ltd. Finance Mangalore Refinery And Petrochemicals Ltd. Petroleum Products Oriental Bank of Commerce Banks Pidilite Industries Ltd. Chemicals Tata Global Beverages Limited Consumer Non Durables Tata Motors Ltd. Auto Tata Power Co. Ltd. Power Britannia Industries Ltd. Consumer Non Durables

22 KOTAK BALANCED ADVANTAGE FUND An open ended dynamic asset allocation fund % to Net Derivatives Can Fin Homes Ltd. Finance Canara Bank Banks Dabur India Ltd Consumer Non Durables Development Credit Bank Ltd. Banks Federal Bank Ltd. Banks Godfrey Phillips India Ltd. Consumer Non Durables IDFC Limited Finance IFCI Ltd. Finance Rural Electrification Corporation Ltd Finance The Ramco Cements Ltd Cement Bajaj Auto Ltd. Auto Bharat Heavy Electricals Ltd. Industrial Capital Goods Bharti Infratel Ltd. Telecom - Equipment & Accessories Cummins India Ltd. Industrial Products DLF Limited Construction Equitas Holdings Ltd Finance Glenmark Pharmaceuticals Ltd Pharmaceuticals Godrej Industries Ltd Consumer Non Durables Hexaware Technologies Ltd. Software Hindustan Construction Co.Ltd Construction Project Hindustan Petroleum Corporation Ltd Petroleum Products Manappuram Finance Ltd Finance Marico Ltd. Consumer Non Durables National Buildings Construction Corporation Limited Construction Repco Home Finance Limited. Finance Siemens Ltd. Industrial Capital Goods The South Indian Bank Ltd. Banks Torrent Power Ltd Power Hedged - Total Equity & Equity related Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions HDFC Ltd. CRISIL AAA 4.95 Corporate Debt/Financial Institutions - Total 4.95 Public Sector Undertakings National Bank for Agriculture & Rural Development(^) CRISIL AAA 4.87 Small Industries Development Bank Of India CARE AAA 1.21 Public Sector Undertakings - Total 6.08 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions HDFC Ltd. CRISIL A Tata Capital Financial Services Limited CRISIL A Corporate Debt/Financial Institutions - Total 9.78 Term Deposits HDFC Bank Ltd RBL Bank Ltd AU Small Finance Bank Ltd Term Deposits - Total Net Current /(Liabilities) 2.38 Grand Total Term Deposit as provided above is towards margin for derivatives transactions SECTOR ALLOCATION (%) Banks Debentures and Bonds CBLO & Term Deposits & Rev.Repo Commercial Paper (CP)/Certi cate of Deposits (CD) Finance Software Auto Pharmaceuticals Consumer Non Durables Petroleum Products 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 August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option) ` (Direct Growth Option) 20

23 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: AAUM: AUM: Investment Objective 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. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemption/switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil. b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%. c) If units are redeemed or switched out on or alter 1 year from the date of allotment: Nil. Total Expense Ratio** Regular: 2.11%; Direct: 1.02% Product Label LOW Mr. Pankaj Tibrewal & Mr. Abhishek Bisen* `2, crs `2, crs Benchmark: NIFTY 50 Hybrid Composite Debt 70:30 Index Allotment date: November 25, 1999 Folio count: 48,076 Data as on August 31, % Investors understand that their principal will be at moderately high risk % HIGH This product is suitable for investors who are seeking*: Long term capital growth Investment in equity & equity related securities balanced with income generation by investing in debt & money. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Equity & Equity related HDFC Bank Ltd. Banks 4.50 ICICI Bank Ltd. Banks 3.19 Infosys Ltd. Software 2.77 Shree Cement Ltd. Cement 2.60 Bharat Financial Inclusion Limited Finance 2.48 Reliance Industries Ltd. Petroleum Products 2.42 State Bank Of India Banks 2.36 ITC Ltd. Consumer Non Durables 2.32 Larsen And Toubro Ltd. Construction Project 2.03 HDFC Ltd. Finance 1.89 RBL Bank Ltd Banks 1.88 Tata Consultancy Services Ltd. Software 1.87 AU Small Finance Bank Ltd. Banks 1.82 Mahindra & Mahindra Ltd. Auto 1.80 Bandhan Bank Limited Banks 1.70 Axis Bank Ltd Banks 1.63 Schaeffler India Ltd Industrial Products 1.63 Thermax Ltd. Industrial Capital Goods 1.54 Atul Ltd. Chemicals 1.53 JK Cement Ltd. Cement 1.43 Maruti Suzuki India Limited Auto 1.42 Emami Ltd. Consumer Non Durables 1.35 V.S.T Tillers Tractors Ltd Auto 1.34 ICICI Lombard General Insurance Company Ltd Finance 1.31 The Ramco Cements Ltd Cement 1.28 Tata Motors Ltd. Auto 1.24 Solar Industries India Limited Chemicals 1.20 Dixon Technologies India Ltd Consumer Durables 1.12 Motherson Sumi Systems Ltd. Auto Ancillaries 1.11 Simran Wind Project Ltd. Construction Project 1.04 GAIL (India) Ltd. Gas 1 Edelweiss Financial Services Ltd Finance 0.99 Vedanta Ltd. Non - Ferrous Metals 0.97 Bharat Petroleum Corporation Ltd. Petroleum Products 0.96 Gujarat Gas Company Ltd Gas 0.96 Lupin Ltd. Pharmaceuticals 0.95 Dr Reddys Laboratories Ltd Pharmaceuticals 0.90 APL Apollo Tubes Limited Ferrous Metals 0.89 Bajaj Auto Ltd. Auto 0.88 Finolex Cables Ltd. Industrial Products 0.86 Galaxy Surfactants Ltd Chemicals 0.77 Kajaria Ceramics Ltd. Construction 0.73 Varroc Engineering Ltd. Auto Ancillaries 0.72 Persistent Systems Limited Software 0.71 Bajaj Finserv Ltd. Finance 0.70 HDFC Standard Life Insurance Company Ltd Finance 0.70 Future Retail Ltd. Retailing 0.68 Mahindra Lifespace Developers Ltd Construction 0.66 Yes Bank Ltd Banks 0.63 JMC Projects (India) Ltd Construction 0.62 Bharti Airtel Ltd. Telecom - Services 0.58 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.57 Future Supply Chain Solutions Ltd Transportation 0.56 Jubilant Foodworks Limited Consumer Non Durables 0.53 Kirloskar Oil Engines Ltd. Industrial Products 0.53 Sun TV Network Ltd. Media and Entertainment 0.53 Bharat Forge Ltd. Industrial Products 0.51 HDFC Ltd. Warrants Finance 0.39 Zee Entertainment Enterprises Ltd Media and Entertainment 0.22 Equity & Equity Related - Total Options CNX NIFTY Put Option - September Options Total 0.06 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 U P Power Corporation Ltd (Guaranteed By UP State Government ) CRISIL A+(SO) 2.43 Punjab & Sind Bank ICRA A Vijaya Bank ICRA AA Syndicate Bank CARE AA Public Sector Undertakings - Total Government Dated Securities 6.84% Central Government SOV % Central Government SOV % Central Government SOV % Central Government SOV % State Government SOV % State Government SOV % State Government SOV 0.01 Government Dated Securities - Total 4.37 Term Deposits HDFC Bank Ltd Term Deposits - Total 0.23 Collateral Borrowing & Lending obligation 5.85 Net Current / (Liabilities) 0.97 Grand Total 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 August 31, 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 (%) SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month Banks Debentures and Bonds Finance Auto CBLO & Term Deposits & Rev.Repo Software Cement Consumer Non Durables Government Dated Securities Industrial Products REST Since Inception 10 years 7 years 5 years 3 years 1 year 22,60,000 12,00,000 8,40,000 6,00,000 3,60,000 1,20,000 1,05,40,850 22,15,566 12,93,512 7,98,651 4,24,422 1,23, NA 22,68,741 13,35,881 8,31,911 4,50,462 1,30,895 NA ,15,55,692 24,80,694 14,42,208 8,82,533 4,78,398 1,35, Inception : - November 25,1999. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). 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 August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option) ` (Direct Growth Option) *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 With Effect from 25th May 2018, the Benchmark is changed to Nfty 50 Hybrid Composite Debt 70:30 Index TRI 7 21

24 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: AAUM: AUM: Investment Objective 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 Benchmark: 75% of Nifty 50 Arbitrage index and 25% in Nifty 50 Allotment date: October 13, 2014 Folio count: 17,891 Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in... multiples of `1 for purchase and for `0.01 for switches Ideal Investments Horizon: 3 years & above Load Structure 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. Total Expense Ratio** Regular: 2.26%; Direct: 1.74% Data as on August 31, 2018 Product Label LOW % % Investors understand that their principal will be at moderately high risk HIGH This product is suitable for investors who are seeking*: Income from arbitrage opportunities in the equity market & long term capital growth Investment predominantly in arbitrage opportunities in the cash & derivatives segment of the equity market and equity & equity related securities * 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 2.45 Reliance Industries Ltd. Petroleum Products 1.96 HDFC Bank Ltd. Banks 1.82 Bajaj Finance Limited Finance 1.50 Hindustan Unilever Ltd. Consumer Non Durables 1.50 Bharat Financial Inclusion Limited Finance 1.41 Maruti Suzuki India Limited Auto 1.18 Infosys Ltd. Software 1.11 CNX NIFTY-SEP Mahindra & Mahindra Ltd. Auto 0.97 ITC Ltd. Consumer Non Durables 0.83 Titan Company Ltd. Consumer Durables 0.77 Tata Steel Limited. Ferrous Metals 0.74 Tech Mahindra Ltd. Software 0.74 HDFC Ltd. Warrants Finance 0.69 Asian Paints Ltd. Consumer Non Durables 0.64 Bharti Airtel Ltd. Telecom - Services 0.64 Motherson Sumi Systems Ltd. Auto Ancillaries 0.61 Britannia Industries Ltd. Consumer Non Durables 0.52 Biocon Ltd. Pharmaceuticals 0.50 Larsen And Toubro Ltd. Construction Project 0.46 JSW Steel Ltd. Ferrous Metals 0.44 Jindal Steel & Power Ltd. Ferrous Metals 0.41 Edelweiss Financial Services Ltd Finance 0.39 Dr Reddys Laboratories Ltd Pharmaceuticals 0.35 Varun Beverages Ltd Consumer Non Durables 0.35 GAIL (India) Ltd. Gas 0.34 Zee Entertainment Enterprises Ltd Media and Entertainment 0.33 Voltas Ltd. Construction Project 0.31 Petronet LNG Ltd. Gas 0.30 Shriram Transport Finance Co Ltd. Finance 0.29 Indraprastha Gas Ltd. Gas 0.28 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.27 ACC Ltd. Cement 0.26 Bharat Forge Ltd. Industrial Products 0.26 Jubilant Foodworks Limited Consumer Non Durables 0.23 Eris Lifesciences Ltd Pharmaceuticals 0.22 Axis Bank Ltd Banks 0.18 Laurus Labs Ltd Pharmaceuticals 0.14 United Spirits Ltd. Consumer Non Durables 0.14 Bajaj Finserv Ltd. Finance 0.12 Bharat Earth Movers Ltd. Industrial Capital Goods 0.12 Godfrey Phillips India Ltd. Consumer Non Durables 0.12 Lupin Ltd. Pharmaceuticals 0.12 Sun TV Network Ltd. Media and Entertainment 0.12 The Ramco Cements Ltd Cement 0.12 AU Small Finance Bank Ltd. Banks 0.10 Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.10 Eicher Motors Ltd Auto 0.10 HCL Technologies Ltd. Software 0.10 HDFC Asset Management Company Ltd. Finance 0.10 Prataap Snacks Ltd Consumer Non Durables 0.09 HDFC Ltd. Finance 0.08 Strides Shasun Ltd. Pharmaceuticals 0.07 Godrej Agrovet Ltd Consumer Non Durables 0.06 Apollo Micro Systems Ltd Industrial Capital Goods 0.04 IndusInd Bank Ltd. Banks 0.03 Chennai Super Kings Cricket Ltd. Media and Entertainment 0.01 Solara Active Pharma Sciences Ltd. Pharmaceuticals 0.01 Godrej Consumer Products Ltd.-SEP Non-Hedged- Total Hedged Power Finance Corporation Ltd. Finance Adani Enterprises Ltd Trading GMR Infrastructure Ltd. Construction Project HDFC Ltd. Finance CESC Ltd. Power Capital First Ltd Finance IDFC Bank Limited Banks Aurobindo Pharma Ltd. Pharmaceuticals Raymond Limited Textile Products Karnataka Bank Ltd Banks Punjab National Bank Banks Jindal Steel & Power Ltd. Ferrous Metals Cadila Healthcare Ltd. Pharmaceuticals Adani Power Ltd Power Equitas Holdings Ltd Finance Union Bank Of India Banks OCL India Ltd Cement 0.69 Dalmia Bharat Ltd.-SEP Yes Bank Ltd Banks Dewan Housing Finance Corporation Ltd. Finance NCC Limited Construction Project DLF Limited Construction Indiabulls Housing Finance Ltd. Finance Tata Steel Limited. Ferrous Metals Bajaj Finance Limited Finance *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

25 KOTAK EQUITY SAVINGS FUND An open-ended scheme investing in equity, arbitrage and debt % to Net Derivatives Steel Authority of India Ltd. Ferrous Metals Suzlon Energy Ltd. Industrial Capital Goods The South Indian Bank Ltd. Banks Biocon Ltd. Pharmaceuticals ICICI Bank Ltd. Banks Bank Of Baroda Banks Granules India Ltd. Pharmaceuticals IDFC Limited Finance Strides Shasun Ltd. Pharmaceuticals Jain Irrigation Systems Ltd. Industrial Products Mahanagar Gas Ltd Gas ICICI Prudential Life Insurance Company Ltd Finance Tata Motors Ltd - DVR Auto Zee Entertainment Enterprises Ltd Media and Entertainment Jaiprakash Associates Ltd Cement Ujjivan Financial Services Ltd Finance Sun TV Network Ltd. Media and Entertainment Wockhardt Ltd. Pharmaceuticals Century Textiles & Industries Ltd. Cement Reliance Infrastructure Ltd Power Balrampur Chini Mills Ltd Consumer Non Durables IRB Infrastructure Developers Ltd Construction Federal Bank Ltd. Banks Asian Paints Ltd. Consumer Non Durables PC Jeweller Ltd Consumer Durables PVR Ltd Media and Entertainment Industrial Development Bank of India Ltd. Banks Tata Elxsi Ltd. Software TV18 Broadcast Ltd Media and Entertainment NHPC Limited Power Indian Bank Banks Bank of India Banks Hero MotoCorp Ltd. Auto Syndicate Bank Banks Titan Company Ltd. Consumer Durables United Breweries Ltd. Consumer Non Durables Godfrey Phillips India Ltd. Consumer Non Durables Marico Ltd. Consumer Non Durables Bajaj Auto Ltd. Auto UPL Ltd Pesticides Glenmark Pharmaceuticals Ltd Pharmaceuticals SREI Infrastructure Finance Ltd Finance Axis Bank Ltd Banks Divi s Laboratories Limited Pharmaceuticals National Aluminium Company Ltd Non - Ferrous Metals Vedanta Ltd. Non - Ferrous Metals Reliance Communications Ltd. Telecom - Services Canara Bank Banks National Buildings Construction Corporation Limited Construction Can Fin Homes Ltd. Finance India Cements Ltd. Cement Kaveri Seed Company Ltd. Consumer Non Durables MindTree Ltd. Software Ashok Leyland Ltd. Auto CG Power and Industrial Solutions Limited Industrial Capital Goods Gujarat State Fertilizers & Chemicals Ltd. Fertilisers Manappuram Finance Ltd Finance Shriram Transport Finance Co Ltd. Finance Mahindra & Mahindra Ltd. Auto LIC Housing Finance Ltd. Finance JSW Steel Ltd. Ferrous Metals RBL Bank Ltd Banks Reliance Capital Ltd. Finance Siemens Ltd. Industrial Capital Goods Hindustan Construction Co.Ltd Construction Project Idea Cellular Ltd. Telecom - Services L&T Finance Holdings Ltd Finance Piramal Enterprises Limited Pharmaceuticals Rural Electrification Corporation Ltd Finance Torrent Pharmaceuticals Ltd. Pharmaceuticals United Spirits Ltd. Consumer Non Durables Apollo Tyres Ltd. Auto Ancillaries Nestle India Ltd. Consumer Non Durables Reliance Industries Ltd. Petroleum Products Mahindra & Mahindra Financial Services Ltd. Finance Ajanta Pharma Ltd. Pharmaceuticals Bharat Forge Ltd. Industrial Products Development Credit Bank Ltd. Banks Engineers India Ltd. Construction Project Indraprastha Gas Ltd. Gas Infosys Ltd. Software Petronet LNG Ltd. Gas SRF Ltd. Textile Products Tech Mahindra Ltd. Software Bharti Airtel Ltd. Telecom - Services CEAT Ltd. Auto Ancillaries Chennai Petroleum Corporation Ltd Petroleum Products Exide Industries Ltd Auto Ancillaries Lupin Ltd. Pharmaceuticals

26 KOTAK EQUITY SAVINGS FUND An open-ended scheme investing in equity, arbitrage and debt % to Net Derivatives Pidilite Industries Ltd. Chemicals PTC India Ltd. Power Bharat Petroleum Corporation Ltd. Petroleum Products Britannia Industries Ltd. Consumer Non Durables Container Corporation of India Ltd. Transportation Muthoot Finance Ltd Finance Tata Global Beverages Limited Consumer Non Durables Apollo Hospitals Enterprises Ltd. Healthcare Services Bharti Infratel Ltd. Telecom - Equipment & Accessories Cholamandalam Investment and Finance Company Ltd Finance Dish TV India Ltd. Media and Entertainment Havells India Ltd. Consumer Durables Hindustan Petroleum Corporation Ltd Petroleum Products Indian Oil Corporation Ltd Petroleum Products Kajaria Ceramics Ltd. Construction Oriental Bank of Commerce Banks Shree Cement Ltd. Cement Tata Chemicals Ltd. Chemicals Tata Communications Ltd Telecom - Services Hedged - Total Equity & Equity Related - Total % Vedanta Reedemable Preference Shares Non - Ferrous Metals 0.67 Preference Shares - Total 0.67 Mutual Fund Units Kotak Mahindra Liquid Direct Plan Growth Mutual Fund Units 1.54 Mutual Fund Units - Total 1.54 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Kotak Mahindra Prime Ltd. CRISIL AAA 8.44 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 2.13 AXIS Bank Ltd. CRISIL AA Corporate Debt/Financial Institutions - Total Government Dated Securities 8.53% State Government SOV 0.21 Government Dated Securities - Total 0.21 Term Deposits AXIS Bank Ltd HDFC Bank Ltd IDFC Bank Limited 1.54 Term Deposits - Total Collateral Borrowing & Lending obligation 0.83 Net Current /(Liabilities) 0.59 Grand Total 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 (%) Finance CBLO & Term Deposits & Rev.Repo Debentures and Bonds Banks Pharmaceuticals Consumer Non Durables Software Ferrous Metals Construction Project Auto REST Monthly SIP of ( `) Total amount invested ( `) Total Value as on August 31, 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 4,70,000 3,60,000 1,20,000 5,62,339 4,16,365 1,25, ,47,867 4,07,963 1,36, ,37,545 4,78,398 1,35, 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. # Benchmark ; ^ Additional Benchmark TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak Equity Savings Fund NAV as on August 31, 2018: ` (Growth Option), ` (Monthly Dividend Option), ` (Quarterly Dividend Option), ` (Direct Growth Option), ` (Direct Monthly Dividend Option), ` (Direct Quarterly Dividend Option) 24

27 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: AAUM: Mr. Devender Singhal & Mr. Abhishek Bisen* ` crs AUM: ` crs Benchmark: CRISIL Hybrid Conservative Index Allotment date: December 02, 2003 Folio count: 6,057 Investment Objective 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. Minimum Investment Amount 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 Load Structure 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. Total Expense Ratio** Regular: 2.29%; Direct: 1.24% Data as on August 31, 2018 Product Label 3.86% 2.02 yrs 8.32% Equity & Equity related ITC Ltd. Consumer Non Durables 2.66 Bata India Ltd. Consumer Durables 1.25 Sun TV Network Ltd. Media and Entertainment 1.20 Mahindra & Mahindra Ltd. Auto 1.18 Tata Motors Ltd. Auto 1.09 RBL Bank Ltd Banks 1.00 ICICI Bank Ltd. Banks 0.89 State Bank Of India Banks 0.84 Emami Ltd. Consumer Non Durables 0.79 Bank Of Baroda Banks 0.72 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.72 City Union Bank Ltd. Banks 0.70 Godfrey Phillips India Ltd. Consumer Non Durables 0.69 Infosys Ltd. Software 0.69 Axis Bank Ltd Banks 0.67 Motherson Sumi Systems Ltd. Auto Ancillaries 0.66 HDFC Asset Management Company Ltd. Finance 0.64 CESC Ltd. Power 0.62 HDFC Ltd. Warrants Finance 0.62 Bharat Forge Ltd. Industrial Products 0.53 Prataap Snacks Ltd Consumer Non Durables 0.53 Titan Company Ltd. Consumer Durables 0.53 Indian Bank Banks 0.52 Jammu and Kashmir Bank Ltd. Banks 0.51 Hero MotoCorp Ltd. Auto 0.48 Tech Mahindra Ltd. Software 0.48 Saregama India Ltd. Media and Entertainment 0.47 GP Petroleums Limited Petroleum Products 0.44 Heritage Foods Ltd Consumer Non Durables 0.41 Huhtamaki PPL Ltd Industrial Products 0.35 MRF Limited Auto Ancillaries 0.35 JMC Projects (India) Ltd Construction 0.34 GMR Infrastructure Ltd. Construction Project 0.31 H G Infra Engineering Ltd. Construction Project 0.27 Apollo Micro Systems Ltd Industrial Capital Goods 0.26 Bharat Earth Movers Ltd. Industrial Capital Goods 0.26 The Ramco Cements Ltd Cement 0.24 OCL India Ltd Cement 0.18 Equity & Equity Related - Total % Vedanta Reedemable Preference Shares Non - Ferrous Metals 1.60 Preference Shares - Total 1.60 Debt Instruments ALLOCATION (%) Debentures and Bonds Corporate Debt/ Financial Institutions Hindalco Industries Ltd. CRISIL AA 0.22 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 0.03 Corporate Debt/ Financial Institutions -Total 0.25 Public Sector Undertakings Punjab & Sind Bank(^) ICRA A Small Industries Development Bank Of India(^) CARE AAA 6.22 United Bank Of India CRISIL AA Vijaya Bank ICRA AA U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 3.30 National Bank for Agriculture & Rural Development CRISIL AAA 3.12 U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(SO) 2.68 Syndicate Bank(^) CARE AA Public Sector Undertakings - Total Government Dated Securities 6.84% Central Government SOV % Central Government SOV % Central Government SOV % State Government SOV % Central Government SOV % Central Government SOV 0.28 Government Dated Securities - Total Term Deposits HDFC Bank Ltd Term Deposits - Total 0.27 Collateral Borrowing & Lending obligation Net Current / (Liabilities) 2.41 Grand Total 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 3.20 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 August 31, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Monthly Dividend), ` (Direct Monthly Dividend), ` (Quarterly Dividend), ` (Direct Quarterly Dividend) Debentures and Bonds Equities Government Dated Securities CBLO & Term Deposits & Rev.Repo Net Current RATING PROFILE (%) AAA, IND AAA, SOV Equities CBLO & Term Deposits & Rev.Repo AA, IND AA(SO), AA- A+, A+(SO) Net Current LOW HIGH Investors understand that their principal will be at moderate risk This product is suitable for investors who are seeking*: Income & capital growth over a long term horizon Investment in a portfolio of debt instruments with a moderate exposure in equity & equity related instruments * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. *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 With Effect from 25th May 2018, the Benchmark is changed to Crisil Hybrid Conservative Index TRI. 25

28 KOTAK MAHINDRA LIQUID SCHEME An open-ended liquid scheme Maturity Short Medium Long Volatility Med Fund Manager: AAUM: AUM: Investment Objective 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. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 1-15 days Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil. (applicable for all plans) Total Expense Ratio** Regular: 0.20%; Direct: 0.15% Product Label Mr. Deepak Agrawal* `25, crs `24, crs Benchmark: Nifty Liquid Index Allotment date: November 4, 2003 Folio count: 20,551 Data as on August 31, % 0.10yrs 7.14% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Torrent Pharmaceuticals Ltd. FITCH IND A Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group) CRISIL AAA 0.38 Corporate Debt/ Financial Institutions - Total 2.21 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 Tata Steel Ltd. ICRA A Aditya Birla Finance Ltd. ICRA A Reliance Jio Infocomm Ltd. CRISIL A IDFC Bank Limited CRISIL A Bajaj Finance Ltd. CRISIL A AXIS Bank Ltd. CRISIL A Tata Sons Ltd. ICRA A Tata Power Company Ltd. CRISIL A L & T Finance Ltd. ICRA A Indiabulls Housing Finance Ltd. CRISIL A LIC Housing Finance Ltd. CRISIL A Gruh Finance Ltd. CRISIL A Vedanta Ltd. CRISIL A Piramal Capital & Housing Finance Ltd. CRISIL A IndusInd Bank Ltd. CRISIL A L & T Infrastructure Finance Company Ltd. ICRA A Bandhan Bank Limited ICRA A Fullerton India Credit Co. Ltd. ICRA A HDB Financial Services Ltd. CRISIL A L & T Infrastructure Finance Company Ltd. CRISIL A Nabha Power Ltd. ( Backed by Letter of Comfort from L&T ) CRISIL A Bamnipal Steel Ltd ( Subsidiary of Tata Steel Ltd ) ICRA A Reliance Retail Limited CRISIL A Tata Motors Finance Ltd. ICRA A Tata Motors Ltd. ICRA A Shriram City Union Finance Ltd. ICRA A Suraksha Asset Reconstruction Pvt. Ltd. CARE A1+(SO) 0.68 Grasim Industries Ltd. CRISIL A HPCL Mittal Pipelines Ltd. FITCH IND A Adani Transmission Ltd CRISIL A India Infoline Finance Limited CRISIL A Corporate Debt/ Financial Institutions - Total Public Sector Undertakings National Bank for Agriculture & Rural Development ICRA A PNB Housing Finance Ltd. CRISIL A Public Sector Undertakings - Total 9.25 Reverse Repo 6.21 Treasury Bills ALLOCATION (%) Commercial Paper (CP)/Certi cate of Deposits (CD) 91 Days Treasury Bill 15/11/2018 SOV Days Treasury Bill 06/09/2018 SOV Days Treasury Bill 20/09/2018 SOV 1.18 Treasury Bills - Total 7.90 Net Current / (Liabilities) 0.38 Grand Total Treasury Bills CBLO & Term Deposits & Rev.Repo Debentures and Bonds Net Current RATING PROFILE (%) LOW HIGH Investors understand that their principal will be at low risk This product is suitable for investors who are seeking*: Income over a short term investment horizon Investment in debt & money market securities * Investors should consult their financial advisors if in doubt about whether the product is suitable for them A1+, A1+(SO), 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. 3, lacs Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.10 years. Kotak Liquid Fund NAV as on August 31, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Weekly Dividend), ` (Direct Weekly Dividend), ` (Daily Dividend), ` (Direct Daily Dividend) With Effect from 1st June 2018, the Benchmark 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

29 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: AAUM: AUM: Investment Objective 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 `8, crs Benchmark: NIFTY Short Duration Debt Index Allotment date: May 2, 2002 Folio count: 3,100 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Minimum Investment Amount 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 Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil. Total Expense Ratio** Regular:1.13%; Direct: 0.28% 1.20% 1.27 yrs 8.24% Debt Instruments Debentures and Bonds Corporate Debt/ Financial Institutions Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) ICRA AAA 7.89 LIC Housing Finance Ltd. CRISIL AAA 6.15 HDFC Ltd.(^) CRISIL AAA 4.94 Mahindra & Mahindra Financial Services Ltd.(^) FITCH IND AAA 4.54 Kotak Mahindra Prime Ltd. CRISIL AAA 4.52 Indiabulls Housing Finance Ltd. CARE AAA 3.90 Reliance Jio Infocomm Ltd. CRISIL AAA 3.19 Rent A Device Trust ( ) ICRA AAA(SO) 3.05 Gruh Finance Ltd.(^) CRISIL AAA 2.93 Tata Sons Ltd. CRISIL AAA 2.54 Bajaj Finance Ltd.(^) CRISIL AAA 2.01 Reliance Industries Ltd. CRISIL AAA 1.92 Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) CRISIL AAA 1.31 Fullerton India Credit Co. Ltd. CARE AAA 1.24 Reliance Jio Infocomm Ltd. ( Irrevocably and unconditionally guaranteed by Reliance Industries ) CRISIL AAA 0.99 Kotak Mahindra Investments Ltd. CRISIL AAA 0.62 IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.36 Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group) CRISIL AAA 0.25 Bajaj Finance Ltd. FITCH IND AAA 0.19 Dewan Housing Finance Corporation Ltd. CARE AAA 0.19 Sikka Ports & Terminals Ltd. CRISIL AAA 0.19 SP Jammu Udhampur way Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AAA 0.06 Bajaj Finance Ltd. FITCH IND AAA(SO) 0.02 Corporate Debt/ Financial Institutions - Total Public Sector Undertakings Power Finance Corporation Ltd. CRISIL AAA Small Industries Development Bank Of India(^) CARE AAA 4.87 ALLOCATION (%) National Bank for Agriculture & Rural Development(^) CRISIL AAA 2.78 PNB Housing Finance Ltd.(^) CARE AAA 1.60 Rural Electrification Corporation Ltd. CRISIL AAA 1.19 ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 1.08 PNB Housing Finance Ltd. FITCH IND AAA 0.49 Rural Electrification Corporation Ltd. FITCH IND AAA 0.24 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 % Central Government SOV 0.01 Government Dated Securities - Total 9.90 Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions Azim premji Trust ICRA A Standard Chartered Investment & Loan India Ltd. CRISIL A Indiabulls Housing Finance Ltd. CRISIL A Shriram City Union Finance Ltd. ICRA A Corporate Debt/Financial Institutions - Total 3.78 Collateral Borrowing & Lending obligation 8.63 Net Current / (Liabilities) 1.78 Grand Total Debentures and Bonds Government Dated Securities CBLO & Term Deposits & Rev.Repo Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current 1.78 Data as on August 31, 2018 RATING PROFILE (%) Product Label A1+, AAA, AAA(SO), IND AAA, IND AAA(SO), SOV CBLO & Term Deposits & Rev.Repo Net Current LOW HIGH Investors understand that their principal will be at moderately low risk This product is suitable for investors who are seeking*: 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 : 1.49 years. Kotak Bond Short Term Plan NAV as on August 31, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Monthly Dividend), ` (Direct Monthly Dividend), ` (Half Yearly Dividend), ` (Direct Half Yearly Dividend), ` (Direct Normal Dividend) With Effect from 1st June 2018, the Benchmark 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

30 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: AAUM: AUM: Investment Objective 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 Benchmark: NIFTY Ultra Short Duration Debt Index Allotment date: August 13, 2004 Folio count: 12,630 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Minimum Investment Amount 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 Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Total Expense Ratio** Regular:0.63%; Direct: 0.28% 0.42% 0.31 yrs 7.48% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Citicorp Finance (India) Ltd. ICRA AAA 6.26 Reliance Jio Infocomm Ltd.(^) CRISIL AAA 5.87 Tata Motors Finance Ltd.(^) CARE AA Shriram Transport Finance Co Ltd.(^) FITCH IND AA Rent A Device Trust ( ) ICRA AAA(SO) 3.64 Shriram Transport Finance Co Ltd. CRISIL AA Mahindra & Mahindra Financial Services Ltd.(^) FITCH IND AAA 2.48 HDFC Ltd. CRISIL AAA 1.74 LIC Housing Finance Ltd. CRISIL AAA 1.55 Tata Capital Housing Finance Ltd.(^) ICRA AA ICICI Home Finance Company Limited ICRA AAA 0.90 Muthoot Finance Ltd. CRISIL AA 0.82 Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) (^) ICRA AAA 0.62 Sundaram BNP Paribas Home Finance Ltd CARE AA Dewan Housing Finance Corporation Ltd. CARE AAA 0.10 Cholamandalam Investment and Finance Company Ltd. ICRA AA HDB Financial Services Ltd. CRISIL AAA 0.06 Corporate Debt/Financial Institutions - Total Public Sector Undertakings ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 5.50 National Bank for Agriculture & Rural Development CRISIL AAA 2.25 PNB Housing Finance Ltd.(^) CARE AAA 1.25 U P Power Corporation Ltd ( Guaranteed By UP State Government ) (^) FITCH IND AA(SO) 1.10 Bank Of Baroda(^) CARE AA 0.81 Small Industries Development Bank Of India(^) CARE AAA 0.62 Power Finance Corporation Ltd. CRISIL AAA 0.61 Export-Import Bank of India CRISIL AAA 0.46 Union Bank of India(^) CRISIL AA Rural Electrification Corporation Ltd.(^) CRISIL AAA 0.34 Bank Of Baroda CARE AA Indian Railway Finance Corporation Ltd. CRISIL AAA 0.07 Power Grid Corporation of India Ltd. CRISIL AAA 0.06 Public Sector Undertakings - Total Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions HDFC Ltd. CRISIL A Piramal Capital & Housing Finance Ltd.(^) CRISIL A Indiabulls Housing Finance Ltd.(^) CRISIL A Tata Capital Financial Services Limited CRISIL A Reliance Industries Ltd.(^) CRISIL A Adani Transmission Ltd ICRA A Bamnipal Steel Ltd ( Subsidiary of Tata Steel Ltd ) ICRA A Reliance Industries Ltd. ICRA A Corporate Debt/ Financial Institutions - Total Public Sector Undertakings National Bank for Agriculture & Rural Development ICRA A PNB Housing Finance Ltd. CRISIL A Public Sector Undertakings - Total 6.43 Reverse Repo Treasury Bills 91 Days Treasury Bill 15/11/2018 SOV 1.85 Treasury Bills - Total 1.85 Collateral Borrowing & Lending obligation Net Current / (Liabilities) 1.31 Grand Total ALLOCATION (%) Data as on August 31, 2018 Debentures and Bonds CBLO & Term Deposits & Rev.Repo Commercial Paper (CP)/Certi cate of Deposits (CD) Treasury Bills Net Current Product Label RATING PROFILE (%) A1+, AAA, AAA(SO), IND AAA, SOV CBLO & Term Deposits & Rev.Repo AA+, IND AA+, AA, IND AA(SO) Net Current LOW HIGH Investors understand that their principal will be at low low risk This product is suitable for investors who are seeking*: 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. ^ 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 : 0.34 years. Kotak Savings Fund (Erstwhile Kotak Treasury Advantage Fund) NAV as on August 31, 2018: ` (Daily Dividend Option), ` (Daily Dividend - Direct), ` (Growth Option), ` (Monthly Dividend Option), `10.16 (Weekly Dividend Option), ` (Monthly Dividend - Direct), ` (Weekly Dividend - Direct), ` (Growth - Direct Option) With Effect from 1st June 2018, the Benchmark 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

31 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: AAUM: AUM: Investment Objective 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* `6, crs `6, crs Benchmark: Nifty Money Market Index Allotment date: July 14, 2003 Folio count: 13,833 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Minimum Investment Amount 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 Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Total Expense Ratio** Regular: 0.20%; Direct: 0.15% 0.21% 0.19 yrs 7.40% Money Market Instruments Commercial Paper(CP)/ Certificate of Deposits(CD) Corporate Debt/ Financial Institutions Muthoot Finance Ltd. CRISIL A HDFC Ltd. CRISIL A Vedanta Ltd. CRISIL A Suraksha Realty Ltd. ( Secured by Equity shares of Sun Pharmaceuticals Industries Ltd ) CARE A1+(SO) 7.04 Chambal Fertilisers & Chemicals Ltd. CRISIL A YES Bank Ltd. CRISIL A Manappuram Finance Ltd. CRISIL A Bharti Telecom Ltd. CRISIL A Reliance Industries Ltd. CRISIL A Nirma Ltd. CRISIL A Can Fin Homes Ltd. ICRA A Grasim Industries Ltd. CRISIL A Shriram City Union Finance Ltd. ICRA A Endurance Technologies Ltd CRISIL A JM Financial Asset Reconstruction Co. Pvt. Ltd ICRA A Godrej Properties Limited CRISIL A ECL Finance Ltd. CRISIL A Piramal Capital & Housing Finance Ltd. CRISIL A Reliance Industries Ltd. ICRA A Standard Chartered Investment & Loan India Ltd. CRISIL A Shapoorji Pallonji Finance Private Limited CRISIL A IDFC Bank Limited CRISIL A L & T Finance Ltd. ICRA A L & T Infrastructure Finance Company Ltd. CRISIL A Corporate Debt/ Financial Institutions - Total Public Sector Undertakings PNB Housing Finance Ltd. CRISIL A Public Sector Undertakings - Total 1.41 Reverse Repo Treasury Bills 91 Days Treasury ALLOCATION (%) RATING PROFILE (%) Bill 06/09/2018 SOV 1.78 Treasury Bills - Total 1.78 Collateral Borrowing & Lending obligation 4.68 Net Current / (Liabilities) Grand Total Commercial Paper (CP)/Certi cate of Deposits (CD) CBLO & Term Deposits & Rev.Repo Treasury Bills Net Current A1+, A1+(SO), SOV CBLO & Term Deposits & Rev.Repo Net Current Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at low low risk This product is suitable for investors who are seeking*: 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 : 0.19 years. Kotak Money Market (Erstwhile Kotak Floater Short Term ) NAV as on August 31, 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 Benchmark 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

32 KOTAK LOW DURATION FUND An open-ended low duration debt scheme investing in instruments Maturity Short Medium Long Volatility Med Fund Manager: AAUM: AUM: Investment Objective 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 Benchmark: NIFTY Duration Debt Index Allotment date: March 6, 2008 Folio count: 37,868 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 for purchase and for `0.01 for switches. Ideal Investment Horizon: 1-3 months Load Structure Entry Load: Nil. Exit Load: Nil. Any exit load charged (net off Service Tax, if any) shall be credited back to the ; Total Expense Ratio** Regular:1.03%; Direct: 0.28% 0.72% 0.67 yrs 8.67% 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) 6.09 Manappuram Finance Ltd.(^) ICRA AA Piramal Enterprises Ltd.(^) ICRA AA 4.11 Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 3.90 SVL Ltd ( Guaranteed by Shriram Transport Finance ) ICRA AA(SO) 3.74 Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) ICRA AA 3.66 Rent A Device Trust ( ) ICRA AAA(SO) 3.39 Dewan Housing Finance Corporation Ltd. CARE AAA 3.33 Edelweiss Housing Finance Limited ICRA AA 2.58 Aditya Birla Fashion and Retail Ltd. CRISIL AA 2.04 Nuvoco Vistas Corporation Ltd. ( 100 subsidiary of Nirma Ltd.) CRISIL AA 1.98 Avendus Finance Pvt Ltd. CRISIL A Indiabulls Housing Finance Ltd. CARE AAA 1.74 Muthoot Finance Ltd. CRISIL AA 1.72 Karelides Traders Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by a wholly owned subsidiary of Piramal Enterprises Ltd ) ICRA AA-(SO) 1.65 Sahyadri Agencies Ltd ( Secured by Equity shares of Jyothy Laboratories Ltd. ) BRICKWORK BWR A(SO) 1.37 Bharti Telecom Ltd. CRISIL AA Jyothy Fbricare Services Ltd. ( Guarrented By Jyothi Laboratories Ltd ) CARE AA(SO) 1.16 Nirma Ltd. CRISIL AA 1.10 Piramal Capital & Housing Finance Ltd. ICRA AA 1.05 Fullerton India Credit Co. Ltd. CARE AAA 0.91 IIFL Home Finance Ltd. ICRA AA 0.74 ECL Finance Ltd. ICRA AA 0.55 Dalmia Cement (Bharat) Ltd ICRA AA 0.44 Hinduja Leyland Finance Ltd. CARE AA Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group) CRISIL AAA 0.37 ALLOCATION (%) LIC Housing Finance Ltd. CRISIL AAA 0.31 HDFC Ltd. CRISIL AAA 0.27 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) 0.18 East-North Interconnection Company Limited ( Operational power transmission project ) CRISIL AAA(SO) 0.09 HDB Financial Services Ltd. CRISIL AAA 0.09 Corporate Debt/ Financial Institutions - Total Public Sector Undertakings U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 7.22 Bank Of Baroda(^) CARE AA 6.54 Andhra Bank CRISIL AA U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(SO) 1.69 Bank Of Baroda CARE AA PNB Housing Finance Ltd. CARE AAA 0.32 Andhra Bank CARE A Konkan Railway Corporation Ltd. ICRA AAA 0.18 Rural Electrification Corporation Ltd. CRISIL AAA 0.17 Punjab National Bank CARE AA Union Bank of India CARE AA Power Finance Corporation Ltd. CRISIL AAA 0.06 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) 5.22 Utkarsh Small Finance Bank Ltd. ICRA A Shriram City Union Finance Ltd. ICRA A Muthoot Capital Services Ltd. CRISIL A HDFC Ltd. CRISIL A Indiabulls Housing Finance Ltd. CRISIL A Corporate Debt/ Financial Institutions - Total 8.90 Collateral Borrowing & Lending obligation Net Current / (Liabilities) 1.74 Grand Total Debentures and Bonds CBLO & Term Deposits & Rev.Repo Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current Data as on August 31, 2018 Product Label RATING PROFILE (%) A1, AA+, AA+(SO), AA, AA(SO), IND AA(SO), AA-, AA-(SO), BWR AA-(SO) A1+, A1+(SO), AAA, AAA(SO) CBLO & Term Deposits & Rev.Repo A+, A+(SO), BWR A(SO) Net Current LOW HIGH Investors understand that their principal will be at moderate risk This product is suitable for investors who are seeking*: 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 : 0.79 years Kotak Duration Fund NAV as on August 31, 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 Benchmark 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

33 Equity Funds Ready Reckoner Name Investment Theme Product Positioning Key Features Fund Manager Monthly Benchmark 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. Information Technology 3. Energy 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. Automobile 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. Healthcare Services 1. Automobile 2. Pharma 3. Financial Services 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 19, Financial Services 2. Cement & Cement Products 3. Construction 1. Information technology 2. Consumer Goods 3. Pharma 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. Energy 1. Automobiles 2. Pharma 3. Financial Services 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. Financial Services 2. Energy 3. Pharma 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. Chemicals 3. Pharma 1. Financial Services 2. Fertilisers & Pesticides 3. Services 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) Balanced 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 2, 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 12, 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 st Details provided are as on August 31, Ratio Source: ICRA MFI Explorer. Risk rate assumed to be 6.45% Alpha = Difference between returns & Benchmark Index TRI of the scheme. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). for Kotak Balance - "The 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" For Detailed scheme performance, please refer page no 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

34 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 25, Liquid Kotak Mahindra Liquid Nil Maturity < 1 year 15 days to 3 months 100% AAA 6, 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 1, 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+ 2, 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 st Details provided are as on August 31, 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. For Liquid schemes ( Kotak Liquid and Kotak Floater Short Term ) and Liquid plus schemes (Kotak Treasury Advantage and Kotak Duration) T-bill is included in AAA. For the detailed scheme categorisation changes refer to Page no * 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.

35 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: AAUM: AUM: Investment Objective 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. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 1 year & above Load Structure 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. Total Expense Ratio** Regular:1.83%; Direct: 0.99% Product Label LOW Mr. Deepak Agrawal* `5, crs `5, crs Benchmark: CRISIL Composite AA Short Term Bond Index Allotment date: May 11, 2010 Folio count: 23,711 Data as on August 31, % 1.66 yrs 9.78% This product is suitable for investors who are seeking*: 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. HIGH 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) 5.20 Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 3.96 Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) CRISIL AA(SO) 3.73 Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) (^) BRICKWORK BWR A+(SO) 3.70 Aasan Corporate Solutions Pvt. Ltd. ( Guaranteed by a Piramal Group Company ) ICRA AA-(SO) 3.45 Muthoot Finance Ltd. CRISIL AA 3.16 Piramal Enterprises Ltd. ICRA AA 2.31 Manav Investment And Trading Company Ltd. ( backed by unconditional underwriting obligation by Axis Capital ) ICRA AAA 2.30 IIFL Home Finance Ltd. ICRA AA 2.25 Nuvoco Vistas Corporation Ltd. ( 100 subsidiary of Nirma Ltd.) CRISIL AA 2.24 HPCL Mittal Energy Ltd. ICRA AA 2.16 Piramal Capital & Housing Finance Ltd.(^) ICRA AA 1.96 YES Bank Ltd. ICRA AA 1.89 Visu Leasing and Finance Pvt. Ltd. CARE A 1.86 Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions) BRICKWORK BWR AA-(SO) 1.85 JAMNAGAR UTILITIES & POWER PRIVATE LIMITED ( Mukesh Ambani Group ) CRISIL AAA 1.85 Nirma Ltd. CRISIL AA 1.84 S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) CARE AA+(SO) 1.79 Muthoot Fincorp Ltd. BRICKWORK BWR A Edelweiss Agri Value Chain Ltd. ( Unconditional and irrevocable guarantee from Edelweiss Financial Services Limited) CARE AA(SO) 1.58 Prestige Estates Projects Limited ICRA A Reliance Jio Infocomm Ltd. CRISIL AAA 1.17 Bharti Telecom Ltd. CRISIL AA ECL Finance Ltd. BRICKWORK BWR AA 0.98 Altico Capital India Pvt Ltd FITCH IND AA Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) UNRATED 0.93 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 0.64 S D Corporation Pvt. Ltd. ( Guarantee by Shapoorji Pallonji & Company Ltd ) CARE AA+(SO) 0.64 Indiabulls Housing Finance Ltd. CARE AAA 0.63 Dalmia Cement (Bharat) Ltd ICRA AA 0.62 Grand View Estates Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AA(SO) 0.47 ECL Finance Ltd. ICRA AA 0.37 Reliance Jio Infocomm Ltd. ( Irrevocably and unconditionally guaranteed by Reliance Industries ) CRISIL AAA 0.37 Konti Infrapower & Multiventures Pvt. Ltd. ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) BRICKWORK BWR A Adani Infra (India) Limited. BRICKWORK BWR AA-(SO) 0.31 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) 0.27 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) 0.27 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) 0.27 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) 0.27 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) 0.27 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)

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) 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) 0.27 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) 0.27 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) 0.27 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) 0.27 JM Financial Credit Solutions Ltd. ICRA AA 0.26 HDFC Ltd. CRISIL AAA 0.19 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) 8.19 Andhra Bank CARE A Punjab & Sind Bank ICRA A Syndicate Bank CARE AA Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) CARE AA(SO) 1.95 Union Bank of India CARE AA U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 1.03 Union Bank of India FITCH IND AA 0.67 Andhra Bank CRISIL AA PNB Housing Finance Ltd. CARE AAA 0.46 U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA 0.46 Bank Of Baroda CARE AA PNB Housing Finance Ltd. FITCH IND AAA 0.31 Konkan Railway Corporation Ltd. ICRA AAA 0.09 United Bank Of India CRISIL AA Power Finance Corporation Ltd. CRISIL AAA 0.07 Bank Of Baroda CARE AA 0.05 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 Green Infra Wind Energy Ltd. ICRA A HDFC Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 5.18 Collateral Borrowing & Lending obligation 0.21 Net Current /(Liabilities) 2.37 Grand Total ALLOCATION (%) Debentures and Bonds Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current 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 BBB CBLO & Term Deposits & Rev.Repo 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 : 2.17 years. Kotak Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) NAV as on August 31, 2018: ` (Growth Option), ` (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 Benchmark 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

37 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: AAUM: AUM: Investment Objective 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. Minimum Investment Amount 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 Load Structure 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. Total Expense Ratio** Regular:1.79%; Direct: 1.07% Product Label LOW Mr. Deepak Agrawal* `4, crs `4, crs Benchmark: NIFTY Medium Duration Debt Index Allotment date: March 21, 2014 Folio count: 17,856 Data as on August 31, % 2.21 yrs 9.68% Investors understand that their principal will be at moderate risk This product is suitable for investors who are seeking*: Income over a medium term investment horizon Investment in debt, government securities & money market instruments with 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. HIGH Mutual Fund Units Indiainfravit Trust (L & T IDPL) Infrastructure Investment Trust (InvIT) 0.56 Mutual Fund Units - Total 0.56 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) 6.35 Reliance Jio Infocomm Ltd. CRISIL AAA 6.10 Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) ICRA AA 5.22 HPCL Mittal Energy Ltd. ICRA AA 3.78 Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 3.49 Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions) BRICKWORK BWR AA-(SO) 2.69 Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) CRISIL AA(SO) 2.30 Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group) CRISIL AAA 2.22 Dewan Housing Finance Corporation Ltd. CARE AAA 2.16 Muthoot Fincorp Ltd. BRICKWORK BWR A Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) BRICKWORK BWR A+(SO) 2.15 Dalmia Cement (Bharat) Ltd ICRA AA 1.93 Nirma Ltd. CRISIL AA 1.81 Prestige Estates Projects Limited ICRA A Altico Capital India Pvt Ltd FITCH IND AA Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) UNRATED 1.08 Hinduja Leyland Finance Ltd. CRISIL AA Vizag General Cargo Berth Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Vedanta Ltd ) CRISIL AA(SO) 1.07 Future Lifestyle Fashions Ltd. CRISIL AA S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) CARE AA+(SO) 1.04 Essel Lucknow Raebareli Toll Roads Limited ( Funding against NHAI Annuity) CARE AAA 1.03 ECL Finance Ltd. ICRA AA 0.97 Igarashi Motors Sales Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by Axis Capital ) ICRA AAA(SO) 0.94 YES Bank Ltd. ICRA AA 0.94 JAMNAGAR UTILITIES & POWER PRIVATE LIMITED ( Mukesh Ambani Group ) CRISIL AAA 0.86 Tata Sons Ltd. CRISIL AAA 0.59 Muthoot Finance Ltd. CRISIL AA 0.53 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) 0.43 ECL Finance Ltd. BRICKWORK BWR AA 0.41 Aasan Corporate Solutions Pvt. Ltd. ( Guaranteed by a Piramal Group Company ) ICRA AA-(SO) 0.38 Jana Small Finance Bank Ltd. ICRA BBB 0.32 L & T Housing Finance Ltd. CARE AAA 0.32 Nuvoco Vistas Corporation Ltd. ( 100 subsidiary of Nirma Ltd.) CRISIL AA 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) 0.31 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) 0.31 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) 0.31 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) 0.31 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) 0.31 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) 0.31 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)

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 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) 0.31 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) 0.31 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) 0.31 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 0.09 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) 5.11 Punjab & Sind Bank ICRA A U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(SO) 3.66 Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) CARE AA(SO) 2.05 Syndicate Bank CARE AA Union Bank of India CARE AA PNB Housing Finance Ltd. FITCH IND AAA 1.55 PNB Housing Finance Ltd. CARE AAA 1.48 Union Bank of India FITCH IND AA 1.48 U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA 1.29 Power Finance Corporation Ltd. CRISIL AAA 1.26 Andhra Bank CARE A United Bank Of India CRISIL AA State Bank Of India. CRISIL AAA 0.23 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 0.32 Government Dated Securities - Total 0.32 Collateral Borrowing & Lending obligation 0.42 Net Current /(Liabilities) Net Current /(Liabilities) 2.92 Grand Total ALLOCATION (%) Debentures and Bonds Net Current Unrated CBLO & Term Deposits & Rev.Repo Government Dated Securities 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 CBLO & Term Deposits & Rev.Repo BBB Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 2.92 years Kotak Medium Term Fund NAV as on August 31, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Annual Dividend), ` (Direct Annual Dividend). With Effect from 1st June 2018, the Benchmark 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

39 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: AAUM: AUM: Investment Objective 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. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 1 year & above Load Structure 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, Total Expense Ratio** Regular:1.83%; Direct: 1.04% Product Label Mr. Abhishek Bisen* `2, crs `2, crs Benchmark: NIFTY Medium to Long Duration Debt Index Allotment date: November 25, 1999 Folio count: 4,849 Data as on August 31, % 1.72 yrs 8.10% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Muthoot Finance Ltd.(^) CRISIL AA 6.19 HDFC Ltd. CRISIL AAA 6.05 Rent A Device Trust ( ) ICRA AAA(SO) 5.62 LIC Housing Finance Ltd. CRISIL AAA 4.37 Reliance Jio Infocomm Ltd.(^) CRISIL AAA 3.48 HDB Financial Services Ltd. CRISIL AAA 2.51 Indiabulls Housing Finance Ltd. CARE AAA 2.23 Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group) CRISIL AAA 1.09 Tata Sons Ltd. CRISIL AAA 0.81 Can Fin Homes Ltd. ICRA AAA 0.79 Piramal Capital & Housing Finance Ltd. ICRA AA 0.39 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) 3.47 Power Finance Corporation Ltd.(^) CRISIL AAA 3.07 ONGC Manglore Petrochemicals Ltd.(^) FITCH IND AAA 1.12 Rural Electrification ALLOCATION (%) Corporation Ltd.(^) CRISIL AAA 1.07 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 % Central Government SOV % Central Government SOV % Central Government SOV % State Government SOV % State Government SOV % State Government SOV % Central Government SOV 0.03 Government Dated Securities - Total 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 Collateral Borrowing & Lending obligation Net Current / (Liabilities) 6.67 Grand Total Debentures and Bonds CBLO & Term Deposits & Rev.Repo Government Dated Securities Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current RATING PROFILE (%) A1+, AAA, AAA(SO), IND AAA, SOV CBLO & Term Deposits & Rev.Repo Net Current AA IND A+ LOW HIGH Investors understand that their principal will be at moderate risk This product is suitable for investors who are seeking*: 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 :2.31 years. Kotak Bond (Erstwhile Kotak Mahindra Bond Unit 99) NAV as on August 31, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Annual Dividend), ` (Direct Annual Dividend) With Effect from 1st June 2018, the Benchmark 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

40 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: AAUM: AUM: Investment Objective 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* `1, crs `1, crs Benchmark: CRISIL Corporate Bond Fund Index Allotment date: September 21, 2007 Folio count: 2,811 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1for purchase and for `0.01 for switches. Ideal Investment Horizon: 1 Year & Above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil. (applicable for all plans) Total Expense Ratio** Regular: 0.58%; Direct: 0.28% 0.64% 0.99 yrs 8.26% 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 Bajaj Finance Ltd. FITCH IND AAA Rent A Device Trust ( ) ICRA AAA(SO) 7.97 Reliance Industries Ltd. CRISIL AAA 7.75 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 5.39 Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) ICRA AAA 4.68 Manav Investment And Trading Company Ltd. ( backed by unconditional underwriting obligation by Axis Capital ) ICRA AAA 3.29 Reliance Jio Infocomm Ltd. ( Irrevocably and unconditionally guaranteed by Reliance Industries ) CRISIL AAA 1.61 Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) CRISIL AAA 1.16 LIC Housing Finance Ltd. CRISIL AAA 1.10 Indiabulls Housing Finance Ltd. CARE AAA 1.07 Jamnagar Utilities & Power Private Limited ( Mukesh Ambani Group) CRISIL AAA 1.07 L & T Housing Finance Ltd. CARE AAA 0.94 IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.53 ICICI Home Finance Company Limited ICRA AAA 0.32 ALLOCATION (%) HDFC Ltd. CRISIL AAA 0.11 Corporate Debt/Financial Institutions - Total Public Sector Undertakings PNB Housing Finance Ltd. CARE AAA 7.29 Power Finance Corporation Ltd. CRISIL AAA 5.43 ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 5.01 Small Industries Development Bank Of India CARE AAA 1.59 National Bank for Agriculture & Rural Development CRISIL AAA 1.07 Powergrid Vizag Transminssion Ltd. ( backed by unconditional and irrevocable guarantee by Powergrid Corp ) CRISIL AAA(SO) 0.75 Power Grid Corporation of India Ltd. CRISIL AAA 0.74 Rural Electrification Corporation Ltd. CRISIL AAA 0.73 Canara Bank CRISIL AAA 0.53 Export-Import Bank of India CRISIL AAA 0.18 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 5.44 Collateral Borrowing & Lending obligation 8.96 Net Current / (Liabilities) 2.64 Grand Total Debentures and Bonds CBLO & Term Deposits & Rev.Repo Commercial Paper (CP)/Certi cate of Deposits (CD) Net Current RATING PROFILE (%) A1+, AAA, AAA(SO), IND AAA CBLO & Term Deposits & Rev.Repo Net Current Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at moderately low risk This product is suitable for investors who are seeking*: 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 : 1.10 years Kotak Corporate Bond Fund NAV as on August 31, 2018: ` (Regular Plan-Growth Option), ` (Regular Plan-Monthly Dividend), ` (Direct Plan- Growth Option), ` (Direct Plan- Monthly Dividend) With Effect from 1st June 2018, the Benchmark is changed to CRISIL Corporate Bond Index from Crisil Composite Bond Fund Index. The above performance is benchmarked to CRISIL Corporate Bond 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 For last three dividends, please refer page no

41 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: AAUM: AUM: Investment Objective 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 Mr. Deepak Agrawal* `1, crs `1, crs Benchmark: CRISIL Banking and PSU Debt Index Allotment date: December 29,1998 Folio count: 2,188 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 8.34 U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 6.71 State Bank Of India. CRISIL AAA 6.47 Power Finance Corporation Ltd. CRISIL AAA 5.63 Canara Bank CRISIL AAA 4.74 Small Industries Development Bank Of India CARE AAA 4.57 Power Grid Corporation of India Ltd. CRISIL AAA 4.03 National Bank for Agriculture & Rural Development CRISIL AAA 3.06 Power Finance Corporation Ltd. ( ) CRISIL AAA 2.54 Power Finance Corporation Ltd. ICRA AAA 2.04 Powergrid Vizag Transminssion Ltd. ( backed by unconditional and irrevocable guarantee by Powergrid Corp ) CRISIL AAA(SO) 1.33 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 0.51 Government Dated Securities - Total Money Market Instruments Commercial Paper (CP)/ Certificate of Deposits (CD) Corporate Debt/ Financial Institutions IDFC Bank Limited CRISIL A Corporate Debt/ Financial Institutions - Total 1.52 Collateral Borrowing & Lending obligation Net Current / (Liabilities) Grand Total Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Minimum Investment Amount Initial Investment: Dividend Payout, Dividend Re-investment & Growth `5000 & above. Additional Investment: `1000 & in multiples of `1. Ideal Investment Horizon: 1-3 months Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Total Expense Ratio** Regular:0.55%; Direct: 0.16% 1.71% 1.76 yrs 8.08% ALLOCATION (%) Debentures and Bonds CBLO & Term Deposits & Rev.Repo Government Dated Securities Net Current Commercial Paper (CP)/Certi cate of Deposits (CD) RATING PROFILE (%) A1+, AAA, AAA(SO), SOV AA+, IND AA(SO) CBLO & Term Deposits & Rev.Repo Net Current Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at low low risk This product is suitable for investors who are seeking*: Income over a short to medium term investment horizon. Investment in debt & money market securities of PSUs, Banks, 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 2.20 years. Kotak Banking And PSU Debt Fund NAV as on August 31, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Monthly Dividend), ` (Direct Monthly Dividend) With Effect from 1st June 2018, the Benchmark 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

42 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: AAUM: AUM: Investment Objective 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. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 1 year & above Load Structure 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) Total Expense Ratio** Regular:1.57%; Direct: 0.45% Mr. Abhishek Bisen* ` crs ` crs Benchmark: Nifty All Duration G-Sec Index Allotment date: Regular Plan - December 29, 1998; PF & Trust Plan - November 11, 2003 Folio count: 1,427 Data as on August 31, 2018 Product Label 3.85% 3.85% 2.21 yrs 7.36% Government Dated Securities 6.84% Central Government(^) SOV % Central Government(^) SOV % Central Government SOV % Central 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 0.47 ALLOCATION (%) 8.43% State Government SOV % State Government SOV 0.23 Government Dated Securities - Total Reverse Repo Treasury Bills 91 Days Treasury Bill 06/09/2018 SOV 8.13 Treasury Bills - Total 8.13 Collateral Borrowing & Lending obligation 1.98 Net Current / (Liabilities) 8.63 Grand Total Government Dated Securities CBLO & Term Deposits & Rev.Repo Net Current Treasury Bills 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 : 3.38 years. Kotak Mahindra Gilt Unit 98 - Investment Plan NAV as on August 31, 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 Benchmark 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 LOW HIGH Investors understand that their principal will be at moderate risk This product is suitable for investors who are seeking*: 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. 38

43 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: AAUM: AUM: Investment Objective 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 Benchmark: Nifty Composite Debt Index Allotment date: May 26, 2008 Folio count: 4,535 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 6 months & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil Total Expense Ratio** Regular:0.95%; Direct:0.40% 1.83% 2.51 yrs 8.30% Debt Instruments Debentures and Bonds Corporate Debt/ Financial Institutions Sikka Ports & Terminals Ltd. ( Mukesh Ambani Group ) CRISIL AAA 2.41 Bajaj Finance Ltd. CRISIL AAA 1.13 HDFC Ltd. CRISIL AAA 0.32 SP Jammu Udhampur way Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AAA 0.25 Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) CRISIL AAA 0.16 Corporate Debt/ Financial Institutions - Total 4.27 Public Sector Undertakings Bank Of Baroda CRISIL AA U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 3.49 Bank Of Baroda CARE AA 3.24 Union Bank of India FITCH IND AA 2.87 ALLOCATION (%) Power Finance Corporation Ltd. CRISIL AAA 1.21 Rural Electrification Corporation Ltd. CRISIL AAA 0.71 Export-Import Bank of India CRISIL AAA 0.16 Public Sector Undertakings - Total Government Dated Securities 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 0.83 Government Dated Securities - Total Collateral Borrowing & Lending obligation Net Current / (Liabilities) 2.78 Grand Total Government Dated Securities Debentures and Bonds CBLO & Term Deposits & Rev.Repo Net Current RATING PROFILE (%) AAA, SOV AA+, AA, IND AA, IND AA(SO) CBLO & Term Deposits & Rev.Repo Net Current Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at moderately low risk This product is suitable for investors who are seeking*: 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 : 3.09 years Kotak Dynamic Bond Fund (Erstwhile Kotak Flexi Debt ) NAV as on August 31, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Regular Monthly Dividend), ` (Direct Monthly Dividend) With Effect from 1st June 2018, the Benchmark 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

44 Details of exposure across all Debt Funds of Kotak Mahindra Mutual Fund as on August 31, 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 ) 0.42 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 Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions) 0.31 Adani Transmission Ltd 0.25 Aditya Birla Fashion and Retail Ltd Aditya Birla Finance Ltd Altico Capital India Pvt Ltd 0.12 Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) 0.12 Andhra Bank 0.57 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 0.17 Bajaj Capital Ventures Pvt. Ltd. ( Secured by Equity shares of Bajaj Corp. Ltd ) 0.09 Bajaj Finance Ltd Bajaj Housing Finance Ltd Bamnipal Steel Ltd ( Subsidiary of Tata Steel Ltd ) 0.32 Bandhan Bank Limited 0.37 Bank Of Baroda 0.69 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 0.06 Central Government 4.02 Chambal Fertilisers & Chemicals Ltd Cholamandalam Investment and Finance Company Ltd Citicorp Finance (India) Ltd Coastal Gujarat Power Ltd. ( Guarenteed by TATA Power Co. Ltd ) 0.25 Dalmia Cement (Bharat) Ltd 0.24 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 ) 0.04 Edelweiss Agri Value Chain Ltd. ( Unconditional and irrevocable guarantee from Edelweiss Financial Services Limited) 0.35 Edelweiss Commodities Services Ltd Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) 0.62 Edelweiss Housing Finance Limited 0.25 Edisons Utility Works Pvt.Ltd. ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) 0.16 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 0.12 Essel Lucknow Raebareli Toll Roads Limited ( Funding against NHAI Annuity) 0.06 Export-Import Bank of India 0.14 Food Corporation of India 0.08 Fullerton India Credit Co. Ltd Future Lifestyle Fashions Ltd Godrej Properties Limited 0.09 Grand View Estates Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.37 Grasim Industries Ltd 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 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 0.20 IDFC Bank Limited 1.56 IIFL Home Finance Ltd IL & FS Transportation Networks Ltd. ( Parent Company- IL & FS Ltd. ) 0.10 IOT Utkal Energy Services Ltd Igarashi Motors Sales Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by Axis Capital ) 0.05 India Infoline Finance Limited 0.01 Indiabulls Housing Finance Ltd Indian Oil Corporation Ltd Indian Railway Finance Corporation Ltd Indostar Capital Finance Limited 0.15 IndusInd Bank Ltd Jamnagar Utilities & Power Private Limited( Mukesh Ambani Group ) 0.51 JM Financial Asset Reconstruction Co. Pvt. Ltd 0.12 JM Financial Credit Solutions Ltd Jana Small Finance Bank Ltd Jyothy Fabricare Services Ltd. ( Guarrented 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 ) 0.84 Konkan Railway Corporation Ltd Konti Infrapower & Multiventures Pvt. Ltd. ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) 0.32 Kotak Mahindra Investments Ltd Kotak Mahindra Prime Ltd L & T Finance Ltd L & T Housing Finance Ltd L & T Infrastructure Finance Company Ltd LIC Housing Finance Ltd

45 Issuer Name %age of Exposure to Debt AUM MA Multi Trade Pvt Ltd ( Secured by Equity shares of Bajaj Corp. Ltd ) 0.09 Mahindra & Mahindra Financial Services Ltd Manappuram Finance Ltd Manav Investment And Trading Company Ltd. ( backed by unconditional underwriting obligation by Axis Capital ) 0.19 Muthoot Capital Services Ltd Muthoot Finance Ltd Muthoot Fincorp Ltd Nabha Power Ltd. ( Backed by Letter of Comfort from L&T ) 0.30 Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) 0.93 National Bank for Agriculture & Rural Development 4.12 Nirma Ltd Nuvoco Vistas Corporation Ltd. ( 100% subsidiary of Nirma Ltd.) 0.40 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 ) 0.02 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 0.19 Punjab & Sind Bank 0.47 Punjab National Bank 0.42 RBL Bank Ltd Reliance Industries Ltd Reliance Jio Infocomm Ltd Reliance Jio Infocomm Ltd. ( Irrevocably and unconditionally guaranteed by Reliance Industries ) 0.14 Reliance Retail Limited 0.25 Rent A Device Trust ( PTC issuer with underlying rentals due from Reliance Retail Ltd) 1.12 Rural Electrification Corporation Ltd S D Corporation Pvt. Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) 0.68 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 ) 0.22 SVL Ltd ( Guaranteed by Shriram Transport Finance ) 0.25 Sahyadri Agencies Ltd ( Secured by Equity shares of Jyothy Laboratories Ltd. ) 0.09 Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) 0.53 Shapoorji Pallonji Energy Gujarat Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.07 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 0.87 Standard Chartered Investment & Loan India Ltd State Bank Of India State Government 4.33 Steel Authority of India Ltd Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) 0.37 Sundaram BNP Paribas Home Finance Ltd 0.01 Sundaram Finance Ltd Suraksha Asset Reconstruction Pvt. Ltd. ( Secured by Equity shares of Sun Pharmaceuticals Industries Ltd ) 0.23 Suraksha Realty Ltd. ( Secured by Equity shares of Sun Pharmaceuticals Industries Ltd ) 0.84 Syndicate Bank 0.29 Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) 0.48 Tata Capital Financial Services Limited 0.24 Tata Capital Housing Finance Ltd Tata Motors Finance 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 ) 2.19 Union Bank of India 0.37 United Bank Of India 0.18 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 7.89 CASH(CBLO/REVERSE REPO) CORPORATES FINANCIAL SERVICES GOI/TBILLS 8.35 NBFC REAL ESTATE 0.31 Total Includes Hybrid schemes - debt schemes having equity exposure 41

46 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: AAUM: AUM: Mr. Deepak Gupta* `36.26 crs `36.26 crs Benchmark: NIFTY 50 Hybrid Composite Debt 50:50 Index Allotment date: August 9, 2004 Folio count: 2,385 Investment Objective 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 Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above Load Structure 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. Total Expense Ratio** 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 Kotak Mahindra Liquid SECTOR ALLOCATION (%) Direct Plan Growth Debt 8.13 Mutual Fund Units - Total Collateral Borrowing & Lending obligation 1.10 Net Current / (Liabilities) 0.35 Grand Total Debt Equity CBLO & Term Deposits & Rev.Repo Net Current Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: Long term capital growth Investment in open-ended diversified equity schemes and debt schemes of Kotak Mahindra Mutual Fund * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Asset Allocator Fund NAV as on August 31, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) with the Effect from 1st June 2018, The Benchmark 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

47 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: AAUM: AUM: Mr. Deepak Gupta* `5.48 crs `5.62 crs Benchmark: 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: 756 Investment Objective The primary investment objective of the scheme is to provide long term capital appreciation by investing in units of a fund that invests predominantly in equity and equity-related securities of companies having assets, products or operations in the United States. However, there is no assurance that the 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 1.49 Net Current /(Liabilities) 4.84 Grand Total 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 Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%; b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of Allotment of units: NIL. Total Expense Ratio** Regular:1.46%; Direct: 0.71% Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at high risk This product is suitable for investors who are seeking*: Long term capital growth Long term capital appreciation by investing in Units of PineBridge US Large Cap Research Enhanced Fund which in turn invests in equity and equity related securities of companies having assets, products or operations in the United States. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak US Equity Fund NAV as on August 31, 2018: ` (Dividend Option), `17.82 (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

48 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: AAUM: AUM: Investment Objective 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* `34.91 crs `34.55 crs Benchmark: MSCI Emerging Market Allotment date: September 26, 2007 Folio count: 7,538 Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above Load Structure 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 Total Expense Ratio** 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) 0.83 Grand Total Overseas Mutual Fund CBLO & Term Deposits & Rev.Repo Net Current Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at high risk This product is suitable for investors who are seeking*: Long term capital growth Investment in overseas mutual fund schemes that invest in a diversified portfolio of securities in global emerging markets * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Global Emerging Market Fund NAV as on August 31, 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

49 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: AAUM: AUM: Mr. Deepak Gupta `33.91 crs `34.59 crs Benchmark: Financial Times Gold Mines Total Price Index, in USD is the benchmark of Falcon Gold Equity Fund. The above translated to INR using the RBI Reference Rate will be the benchmark of Kotak World Gold Fund. Allotment date: June 06, 2008 Folio count: 11,895 Investment Objective 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 7.57 Net Current /(Liabilities) Grand Total 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 Minimum Investment Amount Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%; b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of Allotment of units: NIL; Total Expense Ratio** Regular: 1.72%; Direct: 1.27% Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at high risk This product is suitable for investors who are seeking*: Long term capital growth Long term capital appreciation by investing in units of Falcon Gold Equity Fund which in turn invests in international securities of gold production, processing and marketing companies * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak World Gold Fund NAV as on August 31, 2018: `6.359 (Dividend Option), `6.638 (Direct Dividend Option), `7.672 (Growth Option), `7.991 (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 GOLD ETF An open-ended scheme replicating/ tracking physical gold prices Fund Manager: AAUM: AUM: Investment Objective 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 Minimum Investment Amount Through Exchange:10 Units, Through AMC: Units, Ideal Investment Horizon: 3 years and... above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Total Expense Ratio** Regular: 1.00% Mr. Abhishek Bisen* ` crs ` crs Benchmark: Price of Gold Allotment date: July 27, 2007 Folio count: 37,087 Gold Gold 1 Kg Fineness Gold Equity & Equity Tracking Error: 0.06% Gold SECTOR ALLOCATION (%) Related - Total Net Current /(Liabilities) 0.20 Grand Total Net Current 0.20 Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: Returns in line with physical gold over medium to long term, subject to tracking error Investment in physical gold * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Gold ETF NAV as on August 31, 2018: ` With Effect from 25th May 2018, the Benchmark 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

51 KOTAK NIFTY ETF An open-ended scheme replicating/ tracking nifty 50 index Fund Manager: AAUM: AUM: Investment Objective 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: Minimum Investment Amount Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Total Expense Ratio** Regular: 0.10% Mr. Deepak Gupta* ` crs ` crs Benchmark: Nifty 50 Allotment date: February 2, 2010 Folio count: 6, % 0.07% Equity & Equity related Reliance Industries Ltd. Petroleum Products 9.45 HDFC Bank Ltd. Banks 9.18 HDFC Ltd. Finance 6.76 Infosys Ltd. Software 5.93 ITC Ltd. Consumer Non Durables 5.92 Tata Consultancy Services Ltd. Software 4.82 ICICI Bank Ltd. Banks 4.77 Kotak Mahindra Bank Ltd. Banks 3.72 Larsen And Toubro Ltd. Construction Project 3.66 Hindustan Unilever Ltd. Consumer Non Durables 2.75 Maruti Suzuki India Limited Auto 2.62 State Bank Of India Banks 2.51 Axis Bank Ltd Banks 2.42 IndusInd Bank Ltd. Banks 2.11 Mahindra & Mahindra Ltd. Auto 1.95 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.56 Bajaj Finance Limited Finance 1.47 Yes Bank Ltd Banks 1.37 Asian Paints Ltd. Consumer Non Durables 1.34 HCL Technologies Ltd. Software 1.26 National Thermal Power Corporation Limited Power 1.16 Bharti Airtel Ltd. Telecom - Services 1.10 Oil & Natural Gas Corporation Ltd. Oil 1.10 Tata Motors Ltd. Auto 1.07 Tech Mahindra Ltd. Software 1.04 Ultratech Cement Ltd. Cement 1.01 Power Grid Corporation Of India Ltd Power 0.98 Tata Steel Limited. Ferrous Metals 0.98 Vedanta Ltd. Non - Ferrous Metals 0.92 Grasim Industries Ltd. Cement 0.91 Hero MotoCorp Ltd. Auto 0.91 Indiabulls Housing Finance Ltd. Finance 0.90 Bajaj Finserv Ltd. Finance 0.88 Eicher Motors Ltd Auto 0.83 Bajaj Auto Ltd. Auto 0.81 Coal India Ltd. Minerals/Mining 0.81 Titan Company Ltd. Consumer Durables 0.81 Hindalco Industries Ltd Non - Ferrous Metals 0.75 Wipro Ltd. Software 0.74 Cipla Ltd. Pharmaceuticals 0.73 Indian Oil Corporation Ltd Petroleum Products 0.72 GAIL (India) Ltd. Gas 0.71 Dr Reddys Laboratories Ltd Pharmaceuticals 0.65 Bharat Petroleum Corporation Ltd. Petroleum Products 0.61 Zee Entertainment Enterprises Ltd Media and Entertainment 0.60 Adani Port and Special Economic Zone Limited Transportation 0.58 UPL Ltd Pesticides 0.57 Bharti Infratel Ltd. Telecom - Equipment & Accessories 0.53 Lupin Ltd. Pharmaceuticals 0.48 Hindustan Petroleum Corporation Ltd Petroleum Products 0.41 Equity & Equity Related - Total Net Current / (Liabilities) 0.13 Grand Total SECTOR ALLOCATION (%) Banks Software Petroleum Products Consumer Non Durables Finance Auto Construction Project Pharmaceuticals Power Cement REST Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Nifty ETF NAV as on August 31, 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

52 KOTAK SENSEX ETF An open-ended scheme replicating/ tracking S&P BSE sensex index Fund Manager: Investment Objective 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: Minimum Investment Amount Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Total Expense Ratio** Regular: 0.27% Mr. Deepak Gupta* AAUM: ` crs AUM: ` crs Benchmark: 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 8.44 Infosys Ltd. Software 7.13 ITC Ltd. Consumer Non Durables 7.09 ICICI Bank Ltd. Banks 5.73 Tata Consultancy Services Ltd. Software 5.39 Larsen And Toubro Ltd. Construction Project 4.35 Kotak Mahindra Bank Ltd. Banks 3.95 Hindustan Unilever Ltd. Consumer Non Durables 3.31 Maruti Suzuki India Limited Auto 3.15 State Bank Of India Banks 3.09 Axis Bank Ltd Banks 3.08 IndusInd Bank Ltd. Banks 2.52 Mahindra & Mahindra Ltd. Auto 2.34 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.83 Yes Bank Ltd Banks 1.64 Asian Paints Ltd. Consumer Non Durables 1.61 National Thermal Power Corporation Limited Power 1.36 Oil & Natural Gas Corporation Ltd. Oil 1.32 Tata Motors Ltd. Auto 1.31 Tata Steel Limited. Ferrous Metals 1.22 Power Grid Corporation Of India Ltd Power 1.15 Bharti Airtel Ltd. Telecom - Services 1.12 Hero MotoCorp Ltd. Auto 1.10 Vedanta Ltd. Non - Ferrous Metals 1.10 Bajaj Auto Ltd. Auto 0.97 Coal India Ltd. Minerals/Mining 0.97 Wipro Ltd. Software 0.92 Adani Port and Special Economic Zone Limited Transportation 0.79 Tata Motors Ltd - DVR Auto 0.19 Equity & Equity Related - Total Net Current / (Liabilities) 0.46 Grand Total SECTOR ALLOCATION (%) NAV Banks Software Consumer Non Durables Petroleum Products Auto Finance Construction Project Power Pharmaceuticals Oil REST Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at moderately high risk This product is suitable for investors who are seeking*: Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Sensex ETF NAV as on August 31, 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 BANKING ETF An open-ended scheme replicating/ tracking nifty bank index Fund Manager: AAUM: AUM: Mr. Deepak Gupta* `4, crs `4, crs Benchmark: Nifty Bank Index Allotment date: December 04, 2014 Folio count: 1,931 Equity & Equity related HDFC Bank Ltd. Banks Federal Bank Ltd. Banks 1.26 Bank Of Baroda Banks 1.14 Investment Objective 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: 37.13% ICICI Bank Ltd. Banks Kotak Mahindra Bank Ltd. Banks State Bank Of India Banks 9.10 Axis Bank Ltd Banks 8.76 IndusInd Bank Ltd. Banks 7.63 Yes Bank Ltd Banks 4.97 RBL Bank Ltd Banks 1.84 Punjab National Bank Banks 0.72 IDFC Bank Limited Banks 0.51 Equity & Equity Related - Total Net Current / (Liabilities) 0.10 Grand Total Tracking Error: Minimum Investment Amount Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and... above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Total Expense Ratio** Regular: 0.21% 0.07% SECTOR ALLOCATION (%) Banks Net Current Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at high risk This product is suitable for investors who are seeking*: Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak Banking ETF NAV as on August 31, 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 PSU BANK ETF An open-ended scheme replicating/ tracking nifty PSU bank index Fund Manager: AAUM: AUM: Mr. Deepak Gupta* `67.28 crs `65.60 crs Benchmark: Nifty PSU Bank Index Allotment date: November 8, 2007 Folio count: 2,125 Equity & Equity related State Bank Of India Banks Bank of India Banks 1.72 Syndicate Bank Banks 0.95 Investment Objective 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 8.95 Punjab National Bank Banks 5.68 Canara Bank Banks 3.45 Union Bank Of India Banks 2.13 Industrial Development Bank of India Ltd. Banks 2.09 Oriental Bank of Commerce Banks 0.75 Allahabad Bank. Banks 0.66 Andhra Bank Banks 0.55 Equity & Equity Related - Total Grand Total Portfolio Turnover: % Indian Bank Banks 1.77 Tracking Error: Minimum Investment Amount Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Load Structure Entry Load: Nil. (applicable for all plans) Exit Load: Nil (applicable for all plans) Total Expense Ratio** Regular: 0.49% 0.24% SECTOR ALLOCATION (%) Banks Data as on August 31, 2018 Product Label LOW HIGH Investors understand that their principal will be at high risk This product is suitable for investors who are seeking*: Long term capital growth Investment in stocks comprising the underlying index and endeavours to track the benchmark index * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Kotak PSU Bank ETF NAV as on August 31, 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 Performances as on August 31, 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 19.33% 15.71% 14.71% 3,24,056 1,76,815 1,49,138 Last 1 Year 13.48% 19.40% 23.20% 11,348 11,940 12,320 Last 3 Years 12.42% 15.08% 15.21% 14,214 15,246 15,300 Last 5 Years 19.54% 17.82% 17.32% 24,431 22,726 22,243 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 Benchmark. ## Name of Additional Benchmark. 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 Benchmark Index instead of Price Return Variant (PRI). As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from 29th Dec 1998 to to 31st May 2007 and TRI Values 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 13.72% 14.96% 14.56% 53,888 62,148 59,369 Last 1 Year 18.11% 18.27% 19.40% 11,811 11,827 11,940 Last 3 Years 16.47% 15.48% 15.08% 15,804 15,405 15,246 Last 5 Years 19.58% 19.08% 17.82% 24,470 23,971 22,726 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 Benchmark. ## Name of Additional Benchmark. 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 Benchmark 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 19.44% 16.49% 16.50% 1,19,853 84,468 84,633 Last 1 Year 6.74% 17.54% 19.40% 10,674 11,754 11,940 Last 3 Years 13.63% 15.69% 15.08% 14,678 15,490 15,246 Last 5 Years 21.25% 19.79% 17.82% 26,229 24,691 22,726 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 Benchmark. ## Name of Additional Benchmark. With the effect from 1st June 2018 Benchmark 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 Benchmark 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 15.22% 12.18% 11.69% 35,666 28,063 26,972 Last 1 Year 12.08% 17.54% 19.40% 11,208 11,754 11,940 Last 3 Years 16.14% 15.69% 15.08% 15,673 15,490 15,246 Last 5 Years 24.26% 19.79% 17.82% 29,665 24,691 22,726 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 Benchmark. ## Name of Additional Benchmark. 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 Benchmark 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 12.31% 13.74% 13.85% 44,101 51,832 52,480 Last 1 Year 9.23% 16.33% 19.40% 10,923 11,633 11,940 Last 3 Years 13.01% 15.84% 15.08% 14,438 15,553 15,246 Last 5 Years 22.29% 20.42% 17.82% 27,377 25,351 22,726 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI)

56 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 16.27% NA 15.16% 76,762 NA 67,491 Last 1 Year 5.61% -8.25% 19.40% 10,561 9,175 11,940 Last 3 Years 13.49% 11.16% 15.08% 14,622 13,739 15,246 Last 5 Years 28.36% 24.86% 17.82% 34,900 30,385 22,726 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 Benchmark. ## Name of Additional Benchmark. With Effect from 25th May 2018, the Benchmark 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 Benchmark 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 12.94% 14.66% 11.60% 40,186 47,756 35,050 Last 1 Year 8.71% 10.15% 19.40% 10,871 11,015 11,940 Last 3 Years 15.68% 16.47% 15.08% 15,488 15,807 15,246 Last 5 Years 32.13% 26.16% 17.82% 40,335 32,004 22,726 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 Benchmark. ## Name of Additional Benchmark. With Effect from 25th May 2018, the Benchmark 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 Benchmark 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 7.18% 0.63% 9.31% 20,731 10,688 25,507 Last 1 Year -0.45% -2.26% 19.40% 9,955 9,774 11,940 Last 3 Years 11.43% 8.02% 15.08% 13,841 12,605 15,246 Last 5 Years 24.31% 13.49% 17.82% 29,718 18,837 22,726 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 Benchmark. ## Name of Additional Benchmark. With Effect from 25th May 2018, the Benchmark 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 Benchmark 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 14.56% NA 13.51% 1,28,471 NA 1,08,089 Last 1 Year 6.83% 13.78% 19.40% 10,683 11,378 11,940 Last 3 Years 11.11% 12.74% 15.08% 13,720 14,333 15,246 Last 5 Years 14.52% 15.21% 17.82% 19,710 20,317 22,726 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 Benchmark. ## Name of Additional Benchmark. With Effect from 25th May 2018, the Benchmark 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 Benchmark Index instead of Price Return Variant (PRI). The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006 Kotak 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 7.49% NA 13.68% 25,436 NA 52,453 Last 1 Year 5.95% 4.09% 19.40% 10,595 10,409 11,940 Last 3 Years 6.17% 5.15% 15.08% 11,970 11,627 15,246 Last 5 Years 7.28% 6.53% 17.82% 14,216 13,722 22,726 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI)

57 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 8.93% 7.59% 12.07% 13,940 13,287 15,569 Last 1 Year 8.29% 7.81% 19.40% 10,829 10,781 11,940 Last 3 Years 8.84% 7.69% 15.08% 12,895 12,492 15,246 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak 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% 5.94% 28,993 29,058 23,527 Last 1 Year 7.02% 6.91% 5.76% 10,702 10,691 10,576 Last 3 Years 7.23% 7.06% 6.54% 12,331 12,274 12,095 Last 5 Years 7.98% 7.90% 7.30% 14,689 14,631 14,231 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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% 7.63% 5.92% 29,306 30,428 23,905 Last 1 Year 7.07% 6.78% 5.76% 10,707 10,678 10,576 Last 3 Years 7.30% 7.26% 6.54% 12,355 12,343 12,095 Last 5 Years 8.04% 8.24% 7.30% 14,725 14,867 14,231 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 7.76% 8.19% 6.04% 28,591 30,223 22,813 Last 1 Year 6.58% 7.27% 5.76% 10,658 10,727 10,576 Last 3 Years 7.39% 7.55% 6.54% 12,389 12,441 12,095 Last 5 Years 8.33% 8.45% 7.30% 14,929 15,010 14,231 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 7.28% NA 6.60% 39,914 NA 35,184 Last 1 Year 4.33% 5.00% 5.76% 10,433 10,500 10,576 Last 3 Years 7.41% 7.77% 6.54% 12,394 12,518 12,095 Last 5 Years 8.26% 9.40% 7.30% 14,879 15,678 14,231 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 53

58 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 7.72% 8.52% 6.41% 21,819 23,585 19,188 Last 1 Year 6.66% 6.58% 5.76% 10,666 10,658 10,576 Last 3 Years 7.93% 7.44% 6.54% 12,576 12,403 12,095 Last 5 Years 8.51% 8.47% 7.30% 15,048 15,026 14,231 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 7.59% 7.81% 5.96% 33,052 34,152 25,740 Last 1 Year 4.19% 4.87% 5.76% 10,419 10,487 10,576 Last 3 Years 6.99% 7.35% 6.54% 12,250 12,373 12,095 Last 5 Years 8.26% 8.66% 7.30% 14,874 15,152 14,231 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 8.30% 8.00% 6.40% 22,679 22,044 18,918 Last 1 Year 3.46% 1.01% 5.76% 10,346 10,101 10,576 Last 3 Years 8.29% 6.80% 6.54% 12,701 12,184 12,095 Last 5 Years 8.84% 8.70% 7.30% 15,283 15,179 14,231 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 8.37% 8.96% 6.68% 19,511 20,411 17,119 Last 1 Year 5.29% 6.36% 5.76% 10,529 10,636 10,576 Last 3 Years 7.98% 8.52% 6.54% 12,591 12,782 12,095 Last 5 Years 9.16% 9.63% 7.30% 15,509 15,847 14,231 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 8.10% 9.35% 6.37% 23,473 26,617 19,661 Last 1 Year 6.30% 2.98% 5.76% 10,630 10,298 10,576 Last 3 Years 7.70% 7.98% 6.54% 12,494 12,593 12,095 Last 5 Years 8.63% 9.63% 7.30% 15,134 15,847 14,231 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 54

59 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 8.95% 8.43% 7.40% 14,643 14,336 13,739 Last 1 Year 4.53% 2.61% -3.54% 10,453 10,261 9,646 Last 3 Years 7.85% 7.23% 5.54% 12,548 12,332 11,759 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 8.69% NA NA 47,816 NA NA Last 1 Year -0.46% 0.35% -3.54% 9,954 10,035 9,646 Last 3 Years 5.85% 6.68% 5.54% 11,863 12,141 11,759 Last 5 Years 7.63% 8.64% 6.83% 14,447 15,140 13,919 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 9.40% NA NA 58,581 NA NA Last 1 Year -0.85% -1.02% -3.54% 9,915 9,898 9,646 Last 3 Years 6.72% 6.05% 5.54% 12,158 11,929 11,759 Last 5 Years 8.43% 7.70% 6.83% 14,995 14,496 13,919 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 7.12% 5.27% 5.09% 27,708 21,408 20,867 Last 1 Year -0.85% -1.02% -3.54% 9,915 9,898 9,646 Last 3 Years 6.75% 6.05% 5.54% 12,167 11,929 11,759 Last 5 Years 8.47% 7.70% 6.83% 15,025 14,496 13,919 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark. 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 7.78% 8.19% 5.16% 30,194 31,957 21,014 Last 1 Year 3.39% 3.38% -3.54% 10,339 10,338 9,646 Last 3 Years 8.63% 8.59% 5.54% 12,823 12,807 11,759 Last 5 Years 11.50% 10.78% 6.83% 17,243 16,690 13,919 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 Benchmark. ## Name of Additional Benchmark. With Effect from 25th May 2018, the Benchmark 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 Benchmark Index instead of Price Return Variant (PRI). The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug

60 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 15.68% 12.36% 16.60% 77,614 51,538 86,814 Last 1 Year 4.07% 10.08% 23.20% 10,407 11,008 12,320 Last 3 Years 8.99% 11.10% 15.21% 12,948 13,719 15,300 Last 5 Years 17.52% 13.41% 17.32% 22,439 18,774 22,243 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 Benchmark. ## Name of Additional Benchmark. With Effect from 1st June 2018, the Benchmark 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 Benchmark Index instead of Price Return Variant (PRI). The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006 Kotak 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 12.21% 16.03% 15.61% 17,181 20,112 19,769 Last 1 Year 26.56% 32.54% 19.40% 12,656 13,254 11,940 Last 3 Years 14.72% 18.64% 15.08% 15,104 16,709 15,246 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak 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 4.71% 4.37% 9.48% 16,543 15,959 26,924 Last 1 Year 11.81% 7.53% 19.40% 11,181 10,753 11,940 Last 3 Years 8.96% 11.23% 15.08% 12,939 13,766 15,246 Last 5 Years 3.95% 3.85% 17.82% 12,142 12,084 22,726 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak 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 -2.54% -3.03% 10.81% 7,682 7,297 28,611 Last 1 Year % % 19.40% 7,951 8,156 11,940 Last 3 Years 5.25% 14.25% 15.08% 11,662 14,920 15,246 Last 5 Years -7.39% -4.89% 17.82% 6,808 7,781 22,726 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak 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 10.46% 11.76% 6.21% 30,180 34,353 19,530 Last 1 Year 1.10% 2.09% -3.54% 10,110 10,209 9,646 Last 3 Years 3.19% 4.30% 5.54% 10,990 11,346 11,759 Last 5 Years -2.90% -1.83% 6.83% 8,628 9,117 13,919 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 Benchmark. ## Name of Additional Benchmark. With Effect from 25th May 2018, the Benchmark 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 Benchmark Index instead of Price Return Variant (PRI). 56

61 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 12.26% 12.44% 12.56% 26,927 27,305 27,546 Last 1 Year 19.20% 19.40% 23.20% 11,920 11,940 12,320 Last 3 Years 14.95% 15.08% 15.21% 15,195 15,246 15,300 Last 5 Years 17.69% 17.82% 17.32% 22,602 22,726 22,243 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak 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 10.40% 10.89% 10.81% 27,549 28,826 28,611 Last 1 Year 22.82% 23.20% 19.40% 12,282 12,320 11,940 Last 3 Years 14.87% 15.21% 15.08% 15,165 15,300 15,246 Last 5 Years 16.89% 17.32% 17.82% 21,840 22,243 22,726 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak Banking ETF Kotak Banking ETF Nifty Bank TRI# Nifty 50 TRI## Kotak Banking ETF Nifty Bank TRI# Nifty 50 TRI## Since Inception 12.56% 12.75% 10.85% 15,541 15,637 14,679 Last 1 Year 15.62% 15.86% 19.40% 11,562 11,586 11,940 Last 3 Years 18.36% 18.63% 15.08% 16,588 16,701 15,246 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). Kotak 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 2.91% 2.89% 8.14% 13,637 13,611 23,330 Last 1 Year 0.31% 0.74% 19.40% 10,031 10,074 11,940 Last 3 Years 1.20% 1.71% 15.08% 10,366 10,523 15,246 Last 5 Years 11.29% 11.75% 17.82% 17,079 17,440 22,726 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 Benchmark. ## Name of Additional Benchmark. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). 57

62 ABOUT OUR FUND MANAGERS Name: Mr. Harsha Upadhyaya Mr. Harsha Upadhyaya manages 5 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) 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 Since KIG4 & KIG 5 has not yet completed 1 year from inception, the performance of the scheme is not being disclosed. Kotak India Growth Fund Series 5 Kotak Standard Multicap Fund - Growth (Erstwhile Kotak Select Focus Fund), *Name of the Benchmark - 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 Benchmark - 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 Benchmark - 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 Benchmark 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 Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Kotak Bluechip Fund - Dividend (Erstwhile Kotak 50), *Name of the Benchmark - 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 Benchmark - 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 Benchmark 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 Benchmark Returns (%)^* Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark 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 Emerging Equity - Growth Kotak Equity Hybrid - Dividend Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* NA Kotak Small Cap Fund - Growth NA Kotak Emerging Equity - Growth, *Name of the Benchmark - Nifty Midcap 100 TRI, Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010. Kotak Equity Hybrid - Dividend (Erstwhile Kotak Balance), *Name of the Benchmark - 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 Smallcap Fund - Growth (Erstwhile Kotak Midcap), *Name of the Benchmark - 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 Benchmark 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 Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark 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

63 Kotak NV20 ETF - *Name of the Benchmark 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 Benchmark - 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 Benchmark - 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 Benchmark - 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 Benchmark - 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 Benchmark - 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 Benchmark 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 Equity Hybrid - Dividend Kotak Gold ETF Kotak Bond - Regular Plan - Growth Kotak Gilt - Investment - Regular - Growth Kotak Balanced Advantage Fund Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* 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. Kotak Global Emerging Market Fund - Growth, *Name of the Benchmark - 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 Benchmark - 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 Equity Hybrid - Dividend (Erstwhile Kotak Balance), *Name of the Benchmark - 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 Gold ETF, *Name of the Benchmark - Price of Gold, Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 01/08/2008. Kotak Bond - Regular Plan - Growth, *Name of the Benchmark - NIFTY Medium to Long Duration Debt Index, Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. Kotak Gilt - Investment - Regular - Growth, *Name of the Benchmark -NIFTY All Duration G-Sec Index, Inception date is 29/12/1998. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. TRI Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Benchmark Index instead of Price Return Variant (PRI). For Kotak Balance Fund: The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 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 Money Market - Growth Kotak Liquid - Regular Plan - Growth Kotak Duration Fund - Growth Kotak Banking and PSU Debt Fund - Growth Kotak Bond Short Term Plan - Growth Kotak Dynamic Bond Fund - Growth Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* NA Kotak Money Market - Growth (Erstwhile Floater - Short Term), *Name of the Benchmark - NIFTY Money Market Index, Inception date is 14/07/2003. Mr. Deepak Agrawal has been managing the fund since 01/11/2006. Kotak Liquid - Regular Plan - Growth, *Name of the Benchmark - NIFTY Liquid Index, Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007. Kotak Duration Fund - Growth, *Name of the Benchmark - NIFTY Duration Debt Index, Inception date is 06/03/2008. Mr. Deepak Agrawal has been managing the fund since 01/02/2015. Kotak Banking and PSU Debt Fund - Growth, *Name of the Benchmark - CRISIL Banking and PSU Debt Index, Inception date is 29/12/1998. Mr. Deepak Agrawal has been managing the fund since 01/08/2008. Kotak Bond Short Term Plan - Growth, *Name of the Benchmark -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 Benchmark - 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 Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark Returns (%)^* Returns(%)^ Benchmark 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 Benchmark - 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 Benchmark Index instead of Price Return Variant (PRI). The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug

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

65 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 Aug Individual/ HUF: Others: July Individual/ HUF: Others: June Individual/ HUF: Others: Kotak Bond Short Term - Half Yearly Dividend Mar Individual/ HUF: Others: Sep 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 Credit Risk Fund (Erstwhile Kotak Income Opportunities Fund) - Monthly Dividend Aug Individual/ HUF: Others: July Individual/ HUF: Others: June Individual/ HUF: Others: Kotak Savings Fund (Erstwhile Kotak Treasury Advantage Fund) - Monthly Dividend Aug Individual/ HUF: Others: July Individual/ HUF: Others: June 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 June Individual/ HUF: Others: Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Kotak Corporate Bond Fund - Regular Plan Monthly Dividend Aug Individual/ HUF: Others: July Individual/ HUF: Others: June 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 Income Opportunities Fund - Quarterly Dividend Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Sep Individual/ HUF: Others: Kotak Money Market (Erstwhile Kotak Floater Short Term ) - Monthly Dividend Aug Individual/ HUF: Others: July Individual/ HUF: Others: June Individual/ HUF: Others:

66 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 Aug Individual/ HUF: Others: July Individual/ HUF: Others: June Individual/ HUF: Others: Kotak Duration Fund - Regular Plan Monthly Dividend Aug Individual/ HUF: Others: July Individual/ HUF: Others: June Individual/ HUF: Others: Kotak Medium Term Fund - Quarterly Dividend June Individual/ HUF: Others: Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Kotak Gilt Investment PF and Trust Plan - Quarterly Dividend June Individual/ HUF: Others: Mar Jun Individual/ HUF: Others: 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. 62

67 Categorization - Equity s Equity Funds Details Sr. No. Existing Name New SEBI Category New Name Benchmark Current Portfolio 30th April 2018 SEBI Regulation Regulatory Alignment 1 Kotak Select Focus Fund Multi Cap Fund Kotak Standard Multicap Fund Nifty % Large Cap, 15% Mid Cap, 2.74% Small Cap, 6.13% Cash Minimum investment in equity & equity related instruments- 65% of total assets No change required since no market cap bias 2 Kotak 50 Large Cap Fund Kotak Bluechip Fund Nifty % Large Cap, 13.96% Mid Cap, 3.92% Small Cap, 2.62% Cash Minimum investment in equity & equity related instruments of large cap companies- 80% of total assets No change required since it has > Min 80% largecap required by SEBI 3 Kotak Opportunities Large & Mid Cap Fund Kotak Equity Opportunities Fund Nifty % Large Cap, 34.70% Mid Cap, 11.20% Small Cap, 3.60% Cash Minimum investment in equity & equity related instruments of large cap companies- 35% of total assets Minimum investment in equity & equity related instruments of mid cap stocks- 35% of total assets Little to no change required since its portfolio is already aligned as per SEBI 4 Kotak Emerging Equity Mid Cap Fund Kotak Emerging Equity Nifty Free Float Midcap % Large Cap, 55.81% Mid Cap, 30.72% Small Cap, 3.02% Cash Minimum investment in equity & equity related instruments of mid cap companies- 65% of total assets Partial change required to bring mid-cap exposure to 65% as per SEBI 5 Kotak Midcap Small cap Fund Kotak Smallcap Fund NIFTY Smallcap % Large Cap, 33.77% Mid Cap, 50.87% Small Cap, 1.23% Cash Minimum investment in equity & equity related instruments of small cap companies- 65% of total assets Complete change in positioning. Signi cant change required to bring it in line with min 65% in small cap 6 Kotak Classic Equity Contra Fund Kotak India EQ Contra Fund Nifty % Large Cap, 13.90% Mid Cap, 1.18% Small Cap, 6.58% Cash should follow a contrarian investment strategy. Minimum investment in equity & equity related instruments - 65% of total assets No change required since no market cap bias 7 Kotak Infrastructure & Economic Reform Fund Sectoral/Thematic Kotak Infrastructure & Economic Reform Fund India Infrastructure Index (Customised Index by IISL) 28.08% Large Cap, 30.61% Mid Cap, 38.53% Small Cap, 2.78% Cash Minimum investment in equity & equity related instruments of a particular sector/ particular theme- 80% of total assets No change required 8 Kotak Tax Saver ELSS Kotak Tax Saver Nifty % Large Cap, 26.86% Mid Cap, 15.94% Small Cap, 1.25% Cash Minimum investment in equity & equity related instruments - 80% of total assets (in accordance with Equity Linked Saving, 2005 noti ed by Ministry of Finance) No change required Name Changed 63

68 Categorization - Hybrid s Hybrid Funds Details Sr. No. Existing Name Name New SEBI Category New Name Name Benchmark Current Portfolio 30th 30th April April 2018 SEBI Regulation Regulatory Alignment 9 Kotak MIP Conservative Hybrid Fund Kotak Debt Hybrid CRISIL Hybrid Conservative Index Mod Dur , 7.08% Large Cap, 6.82% Mid Cap, 5.49% Small Cap, 80.62% Debt and Cash. Current Equity 0-20% Investment in equity & equity related instruments - between 10% and 25% of total assets; Investment in Debt instrumentsbetween 75% and 90% of total assets No change required 10 Kotak Balance Aggressive Hybrid Fund Kotak Equity Hybrid NIFTY 50 Hybrid Composite Debt 70:30 Index 39.19% Large Cap, 13.58% Mid Cap, 17.01% Small Cap, 30.22% Debt and Cash, Mod Dur Current Equity 65-70% Equity & Equity related instruments- between 65% and 80% of total assets; Debt instruments- between 20% 35% of total assets No change required 11 Kotak Equity Arbitrage Fund Arbitrage Fund Kotak Equity Arbitrage Fund Nifty 50 Arbitrage Mod Dur , following arbitrage No change required strategy. Minimum investment in equity & equity related instruments- 65% of total assets 12 Kotak Equity Savings Fund Equity Savings Kotak Equity Savings Fund 75% of Nifty 50 Arbitrage index and 25% in Nifty 50 Mod Dur Unhedged equity 10-25% Minimum investment in equity & equity related instruments- 65% of total assets and minimum investment in debt- 10% of total assets Minimum hedged & unhedged to be stated in the SID. Unhedged equity NO regulatory cap - We have taken exibility of 10-50%, Portfolio is positioned at 25% unheadge equity currently which would continue for now Name Changed These are the current stance based on current market enviornment & opportunities. The fund manager has the exibility to change stance within the limits provided in the Information Document For Channel Partners & Distributers only 64

69 Categorization - Equity/Hybrid s Kotak Equity Oppotunities Fund 65

70 Categorization - Equity/Hybrid s 66

71 Categorization - Debt s Debt Fund Details Proposed Investment Positioning* Sr. No. Existing Name New SEBI Category New Name Current Portfolio 30th April 2018 SEBI Regulation Macaulay duration Rating Pro le Investment Positioning 1 Kotak Mahindra Liquid Liquid Fund Kotak Mahindra Liquid Mod Dur , 100% AAA/SOV/ Cash & Cash Eqv. Investment in Debt and money market securities with maturity of upto 91 days only Years 100% AAA/ P1+ Maintain carry with Adequate liquidity maximum maturity of assets below 90 days 2 Kotak Floater Short Term Money Market Fund Kotak Money Market Mod Dur , 99.42% AAA/ SOV/Cash & Cash Eqv, 0.58% AA & below "Investment in Money Market instruments having maturity upto 1 year" Years 100% P1+ Maintain carry with Adequate liquidity maximum maturity of assets below 1 year 3 Kotak Treasury Advantage Fund Ultra Short Duration Fund Kotak Savings Fund Mod Dur , 80.87% AAA/ SOV/Cash & Cash Eqv, 9.64% AA+, 9.51% AA & below Macaulay duration of the portfolio is between 3 months to 6 months As per SEBI Regulation 80% AAA/ P1+ Actively manage duration between 3m to 6m depending on the shape of the curve 4 Kotak Duration Fund Duration Fund Kotak Duration Fund Mod Dur , 41.81% AAA/ SOV/Cash & Cash Eqv, 7.23% AA+, 50.96% AA & below Macaulay duration of the portfolio is between year As per SEBI Regulation 50% AAA/ P1+ and Remaining in AA+ & below Build a good quality high yielding portfolio and actively manage the duration in the given band depending on the interest rate view 5 Kotak Bond Short Term Short Duration Fund Kotak Bond Short Term Plan Mod Dur , 100% AAA/SOV/ Cash & Cash Eqv Macaulay duration of the portfolio is between 1 3 years As per SEBI Regulation 100% AAA/ P1+ Actively manage duration in the given band depending on the interest rate view 6 Kotak Medium Term Fund Medium Duration Fund Kotak Medium Term Fund Mod Dur , 28.30% AAA/ SOV/Cash & Cash Eqv, 2.17% AA+, 69.53% AA & below Macaulay duration of the portfolio is between 3 4 years (1-4 yr in defensive) As per SEBI Regulation 25% AAA/ P1+ and Remaining in AA+ & below Build a good quality high yielding portfolio of accrual and actively manage the duration risk 7 Kotak Mahindra Bond Unit 99 Medium to Long Duration Fund Kotak Bond Mod Dur , 81.35% AAA/ SOV/Cash & Cash Eqv, 3.82% AA+, 14.83% AA & below Macaulay duration of the portfolio is between 4 7 years (1-7 yr in defensive) As per SEBI Regulation 80% AAA/ P1+ Actively manage duration in the given band depending on the interest rate view Name Changed 67

72 Categorization - Debt s Debt Fund Details Proposed Investment Positioning* Sr. No. Existing Name 8 Kotak Flexi Debt Fund Dynamic Bond Kotak Dynamic Bond Fund 9 Kotak Corporate Bond Fund 10 Kotak Income Opportunities Fund 11 Kotak Banking & PSU Debt Fund 12 Kotak Mahindra Gilt Unit 98-Investment Plan New SEBI Category Corporate Bond Fund Kotak Corporate Bond Fund Mod Dur , 87.10% AAA/ SOV/Cash & Cash Eqv, 5.02% AA+, 7.88% AA & below Mod Dur , 100% AAA/SOV/ Cash & Cash Eqv Credit Risk Fund Kotak Credit Risk Fund Mod Dur , 25.68% AAA/ SOV/Cash & Cash Eqv, 3.96% AA+, 70.36% AA & below Banking and PSU Fund Gilt Fund New Name Kotak Banking & PSU Debt Fund Kotak Mahindra Gilt Unit 98-Investment Plan Current Portfolio 30th April 2018 Mod Dur , 70.57% AAA/ SOV/Cash & Cash Eqv, 10.36% AA+, 19.07% AA & below Mod Dur , 100% AAA/SOV/ Cash & Cash Eqv, SEBI Regulation Investment across duration Minimum investment in corporate bonds- 80% of total assets (AA+ & above), No Duration Limit Minimum investment in corporate bonds- 65% of total assets (investment in below AA+), No Duration Limit Minimum investment in Debt instruments of banks, Public Sector Undertakings, Public Financial Institutions- 80% of total assets, No Duration Limit Minimum investment in Gsecs- 80% of total assets (across maturity) Macaulay duration As per SEBI Regulation 75% AAA/ P1+ Actively manage duration in 2-5 year band depending on the shape of the curve Year 90% AAA Actively manage duration in year band depending on the shape of the curve 1-3 Year 25% AAA/ P1+ and Remaining in AA+ & below 1-4 Year 75% AAA/ P1+ As per SEBI Regulation Rating Pro le Investment Positioning Build a good quality high yielding portfolio of accrual and actively manage the duration risk Actively manage duration in 1-4 year band depending on the shape of the curve 100% Sov Actively manage duration in 2-5 year band depending on the shape of the curve Name Changed *These are the current stance based on current market enviornment & opportunities. The fund manager has the exibility to change stance within the limits provided in the Information Document For Channel Partners & Distributers 68

73 Categorization - Debt s 69

74 Categorization - Debt s 70

75 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 Benchmark 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 Agra: Ahmedabad: / Ajmer: Aligarh: Allahabad: Ambala: /71 Amritsar: / Anand: Aurangabad: Bangalore: / 51 Belgaum Bareilly: Bhavnagar: Bhilai: Bhopal: Gwalior: Gorakpur: / Gurgaon: /26 Guwahati: Hubli: Hyderabad: / 41/ 42 Indore: Jabalpur: Jaipur: Jalandhar: / Jalgaon: / 32 Jammu: Jamnagar: Jamshedpur: / / Nagpur: /8577 Nashik: New Delhi: /61 Panipat: Patiala: Patna: Pondicherry: Pune: /12/13 Raipur: Rajkot: Ranchi: / / Rourkela: / Rohtak Saharanpur Bhubaneshwar: / Jodhpur: Salem: Bhuj: Kanpur: / Shimla: / Calicut: Kolhapur: / 91 Silliguri: Chandigarh: / Kolkata: / 12/ 13/ 14 Surat: / Chennai: / Kottayam: Trichur: Cochin: / Lucknow: / Trichy: Coimbatore: Ludhiana: / Trivandrum: / Cuttack: / Mangalore: Udaipur: Dehradun: / Meerut: Vadodara: / Dhanbad: / Mumbai: Vapi: / Durgapur: / Mumbai: (Thane): / 186 Varanasi: Goa: Muradabad: Vijayawada: Mysore: 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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