March 31, Past performance of the Sponsor/AMC/Fund does not indicate the schemes future performance. Risk Factors on page 57

Transcription

1 March 31, 2018 Past performance of the Sponsor/AMC/Fund does not indicate the schemes future performance. Risk Factors on page 57

2 INDEX Contents From the Managing Director's Desk Market Overview Equity Market Snap Shot Debt Market Snap Shot Fund Name/ Name Equity Funds Kotak 50 Kotak Classic Equity Kotak Opportunities Kotak Select Focus Fund Kotak Tax Saver Kotak Mid-Cap Kotak Emerging Equity Arbitrage Funds Kotak Equity Arbitrage Fund Hybrid Funds Kotak Balance Kotak MIP Kotak Equity Savings Fund Thematic Funds Kotak Infrastructure & Economic Reform Fund Close Ended Equity s Kotak India Growth Fund Series 1 Kotak India Growth Fund Series 4 Debt Funds Kotak Liquid Fund Kotak Floater Short Term Kotak Treasury Advantage Fund Kotak Banking & PSU Debt Fund Kotak Duration Fund Kotak Bond Short Term Kotak Flexi Debt Kotak Income Opportunities Fund Kotak Medium Term Fund Kotak Corporate Bond Fund Kotak Bond Fund Kotak Gilt Investment Page no. 34 Exposure 35 Fund of Funds Kotak Asset Allocator Fund 36 Kotak US Equity Fund 37 Kotak Global Emerging Market Fund 38 Kotak World Gold Fund 39 ETF Funds Kotak Gold ETF 40 Kotak Nifty ETF 41 Kotak Sensex ETF 42 Kotak Banking ETF 43 Kotak PSU Bank ETF Performance About Our Fund Managers Dividend History How to read Fact Sheet

3 EXPERT SPEAK March 28, 2018 Dear Friends, Mr Market is an eccentric man. Sometimes he overreacts but other times he behaves normally. Sometimes he is either very depressed or is very excited. And it is our job to not to react to his reactions. Since the market peak in Jan-18, the markets have corrected by around 8%. The decline in small and midcap stocks is well into double digits. It is evident that market is unable to make up its mind in the short term. And this is because the sentiments are changing fast. The global dynamics of trade and finance seem to be undergoing a change. US, which up until now had been the proponent of free trade, capital flows and business connectivity is going protectionist. China which is namesake communist, is asking for free trade. This trend, if it takes root, will have major consequences for global growth and capital. The resultant volatility in the market is because the participants are undecided as to where and how this will impact business. In our opinion, the present US establishment uses the maximalist position to strike a bargain later. Although, China too has for long been using its undervalued currency to derive trade advantage. If the US is able to negotiate a gradual recalibration of Yuan; a freer access to Chinese markets; and a more transparent regime, then in the long run this may be in the welfare of all, especially India. But for the next few months, the global markets and stocks of dependent companies may move like a pendulum. At the domestic front, the early green shoots seem to be showing signs of growth. Car sales on year on year terms are rising. The airline traffic too has shown healthy increase. CPI Inflation seems to be undershooting the RBI projection levels. But risk factors too exist. The rising crude prices, a tight fiscal deficit target and political uncertainty are key of them. Crude prices at US 70 p/b can lead to weak currency, wide current account deficit and rising inflation. A slipping fiscal deficit can cram out the private sector borrowing and raise general interest rates in the economy. But political turmoil in an already noisy India can cause much more volatility. Markets don t love uncertainty. They love stability, growth and predictability. And if a divided electoral mandate hampers that, then it raises a concern. With major state elections slated this year; and the big general election in 2019, the whole of India Inc is looking cautiously at the turning events. Indian markets though have a floor as to how much they can move downwards. The mutual fund SIP inflow provides a buying support, if the valuation levels decline sharply. Of course end of the world kind of sentiments can hurt all the bottoms. But that is not what we plan for. The RBI (Reserve Bank of India ) kept policy rates on hold while maintaining their neutral monetary policy stance - largely in line with expectations. The overall tone of the policy was neutral as compared to some of the earlier policies. Also, with a reduction in the projected inflation range for FY19, there seems to be a tilt towards a dovish undertone. While the RBI does maintain that there are upside risks to inflation, the lowering of the CPI inflation projections for FY19 lends comfort. The mutual fund Industry average AUM stood at Rs Lakh cr at end of Mar-18. This is a growth of 25.9% on YOY basis. In the same period, the Kotak Mutual Fund average AUM for Mar-18 was at Rs 1.24 Lakh cr. This is a growth of 35.2% on YOY basis. The financialisation trend is continuing and while fixed income segment is attracting the bulk of AUM, the retail inflows are directed mostly in equities. In a time when the markets are gyrating, this nascent retail trust has to be nurtured. It is advisable that risk mitigation investment strategies like SIP, asset strategic allocation and realistic goal based investing are advised to investors. Investors also need to be educated that market is not a roller coaster; nor a lift. It is a walk up the mountain. It is difficult, it requires discipline, patience and planning. And at the Top: The view is awesome. Regards, Nilesh Shah Managing Director 1 1

4 Key Events for the Month of March 2018: The government unveiled a Rs 2.88 lakh crore market borrowing roadmap for the first half of FY19, which would be 22.6 % lesser than Rs 3.72 lakh crore raised during the same period last financial year. Inflation: -CPI inflation eased for the second consecutive month to 4.4% in Feb (from 5.1% in Jan). This was partly led by a decline in vegetable prices along with normalization in the underlying CPI ex of the outliers (ie vegetables, pulses, transportation and housing) from 4.3% to 4% -Annual wholesale price inflation last month eased for the third straight month in February to 2.48%, from a provisional 2.84% rise in January, helped by a softer rise in food and fuel prices. -India s Industrial Production data for the month of Jan stayed strong at 7.5% which was higher than consensus estimates of 6.4%. This was led by capital goods which was up 14.6% and Consumer Non-Durables which was up 10.5% similar to what we have seen in the Oct-Dec period. -In its first bi-monthly monetary policy review of , The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) kept the policy repo rate unchanged at 6% and cash reserve ratio at 4%. Also, the reverse repo rate was kept unchanged at 5.75%. -India's exports increased by 4.5% to 25.8 billion in February 2018 as compared to 24.7 billion in February 2017, -Imports rose by 10.4% to 37.8 billion in February. -The Nikkei India Manufacturing Purchasing Managers Index (PMI), fell from 52.1 in February to a five-month low of 51.0 in March, indicating the slowest improvement in operating conditions recorded by the survey since last October. -A steep rise in output of cement and fertilisers pushed up the growth of the core sector to 5.3% in February. Market Valuation Indicators Markets Fairly Valued Few Indicators Like PE Indicate Over-valuation, While Other Composite Indicators Like P/B Or Market Cap To GDP Suggest Valuations Still Having Some Room To Expand 12-month forward Sensex P/B (x) India s Market Cap to GDP (%) Sensex P/B (x) LHS Average of 78% for the period Mar-91 Mar-92 Mar-93 Mar-94 Mar-95 Mar-96 Mar-97 Mar-98 Mar-99 Mar-00 Mar-01 Mar-02 Mar-03 Mar-04 Mar-05 Mar-06 Mar-07 Mar-08 Mar-09 Mar-10 Mar-11 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar E 2018E Market Bubble Equity Allocaion Exit 5% - 10% 12-month forward Sensex P/E (x) Stretched Fair Value Plus Under Invest 15%- 25% Neutral - 35% - 45% Stretched 20x 24x Fair Value Plus 17x 20x Fair Attractive Cheap Neutral 50% Neutral + 65% - 75% Over Invest 80% - 90% Suggested equity allocation (Assuming 50% equity allocation as neutral) Mar-15 Apr-15 May-15 Jun-15 Jul-15 Aug-15 Sep-15 Oct-15 Nov-15 Dec-15 Jan-16 Feb-16 Mar-16 Fair 13x 17x Attractive 10x 13x Cheap 8x 10x Apr-16 May-16 Jun-16 Jul-16 Aug-16 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 Source:Internal Calculation Strategy for Investments in the Current Scenario for Equity Investor 2

5 Equity Market Snapshot: Trade Wars Unlikely To Impact India Directly India s Net Exports (goods + services) to US India s Net (of Imports) Exports (ex oil, ex gold and jewllery) + Net Services India s Net Exports are a small proportion of its overall GDP Source: CLSA, BEA Breaking Through the Fiscal Vicious Cycle Vicious cycle: small government/high informality Sharp increase in the number of taxpayers India Mexico Total Tax to GDP (2014) Korea USA Switzerland Australia Turkey India (Formal) Japan UK OECD Germany France Denmark 10% 20% 30% 40% 50% 60% mn 1.8mn additional individual income tax filers over and above usual trend post demonetisation No of Direct Tax Filers Nov-10 Nov-11 Nov-12 Nov-13 Nov-14 Nov-15 Nov-16 Nov-17 Source: World Bank, CBDT, Credit Suisse Key Variables & Their Impact On Equities 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 Mar-18 Feb-18 Change Reverse Repo 5.75% 5.75% Nil Repo 6.00% 6.00% Nil CRR 4.00% 4.00% Nil SLR 19.50% 19.50% Nil Mibor Overnight 9.39% 6.05% 334 bps Call(O/N) 7.57% 5.93% 164 bps CBLO 4.60% 5.84% -124 bps 1 yr T Bill 6.42% 6.62% -20 bps 10 G Sec 7.40% 7.73% -33 bps 5 Year AAA 7.87% 8.02% -15 bps USD/INR ` ` `0.13 Source: RBI; Bloomberg. Inflation and Rising Financial Savings are Positive CPI moderation likely to persist Financial savings as a % of GDP to keep rising 40% 30% 20% Sub-4%inflation for 12 steady months has only happened once in history 18% 16% 14% 12% % of GDP 10% 10% 0% 8% 6% -10% Jan-61 Jun-67 Nov-73 Apr-80 Sep-86 Feb-93 Jul-99 Dec-05 May-12 4% CPI (% YoY) Gross Financial Savings Net Financial Savings Source: CMIE, Credit Suisse Estimates 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 50 An Open - Ended Equity Fund Manager: Mr. Harish Krishnan* : Nifty 50 Allotment date: December 29, 1998 Folio Count: 91,152 AAUM: `1, crs AUM: `1, crs To generate capital appreciation from a portfolio of predominantly equity and equity related securities. The portfolio will generally comprise of equity and equity related instruments of around 50 companies which may go up to 59 companies but will not exceed 59 at any point in time. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%. b) For redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units: Nil. Regular:2.17%; Direct: 1.00% Investment Style: Style 69.22% Value Blend Growth Size % Large Mid Small 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. Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks 8.89 Reliance Industries Ltd. Petroleum Products 5.99 IndusInd Bank Ltd. Banks 5.42 ICICI Bank Ltd. Banks 5.04 Larsen And Toubro Ltd. Construction Project 4.70 ITC Ltd. Consumer Non Durables 4.68 Maruti Suzuki India Limited Auto 3.81 GAIL (India) Ltd. Gas 2.48 Tech Mahindra Ltd. Software 2.41 Infosys Ltd. Software 2.39 Zee Entertainment Enterprises Ltd Media and Entertainment 2.39 Motherson Sumi Systems Ltd. Auto Ancillaries 2.11 Bharat Petroleum Corporation Ltd. Petroleum Products 2.10 State Bank Of India Banks 1.92 Vedanta Ltd. Non - Ferrous Metals 1.89 Shree Cement Ltd. Cement 1.83 Cadila Healthcare Ltd. Pharmaceuticals 1.70 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 1.61 ICICI Lombard General Insurance Company Ltd Finance 1.59 HCL Technologies Ltd. Software 1.58 Britannia Industries Ltd. Consumer Non Durables 1.50 Mahindra & Mahindra Ltd. Auto 1.45 Sun TV Limited. Media and Entertainment 1.44 Axis Bank Ltd Banks 1.35 Schaeffler India Ltd Industrial Products 1.29 Solar Industries India Limited Chemicals 1.21 Inter Globe Aviation Ltd Transportation 1.17 Sanofi India Ltd. Pharmaceuticals 1.17 HDFC Ltd. Warrants Finance 1.11 Note: Term Deposit as provided above is towards margin for derivatives transactions Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) Nifty 50 (TRI) ( `)# Nifty 50 (TRI) Returns (%) S&P BSE SENSEX (TRI) ( `)^ S&P BSE SENSEX (TRI) Returns (%) SYSTEMATIC INVESTMENT PLAN (SIP) Bata India Ltd. Consumer Durables 1.10 HDFC Ltd. Finance 1.10 RBL Bank Ltd Banks 1.09 The Ramco Cements Ltd Cement 1.09 Dabur India Ltd Consumer Non Durables 1.08 Hero MotoCorp Ltd. Auto 1.07 Bharat Electronics Ltd Industrial Capital Goods 1.06 DR.Lal Pathlabs Ltd Healthcare Services 1.06 Indraprastha Gas Ltd. Gas 1.05 Petronet LNG Ltd. Gas 1.05 Kajaria Ceramics Ltd. Construction 1.04 Laurus Labs Ltd Pharmaceuticals 1.02 Nestle India Ltd. Consumer Non Durables 1.02 Jindal Steel & Power Ltd. Ferrous Metals 0.99 Persistent Systems Limited Software 0.95 Amara Raja Batteries Ltd. Auto Ancillaries 0.90 Edelweiss Financial Services Ltd Finance 0.77 Dalmia Bharat Ltd. Cement 0.74 Tata Consultancy Services Ltd. Software 0.64 Supreme Industries Limited Industrial Products 0.62 Bharat Earth Movers Ltd. Industrial Capital Goods 0.55 SBI Life Insurance Company Ltd Finance 0.51 Bandhan Bank Limited Banks 0.47 Punjab National Bank Banks 0.45 Ultratech Cement Ltd. Cement 0.30 ICICI Securities Ltd Finance and Investments 0.25 Yes Bank Ltd Banks 0.23 OCL India Ltd Cement 0.13 Listed/Awaiting Listing on Stock Exchange - Total TERM DEPOSITS AXIS Bank Ltd Term Deposits - Total 0.49 Collateral Borrowing & Lending obligation 1.14 Net Current /(Liabilities) Systematic Investment Plan (SIP) If you had invested `10,000 every month 1 year 3 years 5 years 7 years 10 years Since Inception 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 23,20,000 1,20,464 4,14,798 8,22,430 13,38,462 22,94,577 15,5,90, ,22,328 4,25,727 8,02,644 12,89,007 22,08,248 1,12,33, ,23,265 4,25,426 7,95,219 12,80,431 22,02,135 1,07,91, Inception : - December 29, The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). As TRI data is not available since inception of the scheme, benchmark SIP Performance is calculated by taking S&P BSE Sensex PRI values from 29th Dec 1998 to 31st May 2007 and TRI Values from 31st May 2007 to 31st Jan 2018 Kotak 50 NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) SECTOR ALLOCATION (%) Financial Services Energy Consumer Goods Automobile Information Technology Construction Cement & Cement Products Pharma Media & Entertainment Industrial Manufacturing * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

8 KOTAK CLASSIC EQUITY An Open - Ended Equity Growth Fund Manager: Mr. Deepak Gupta* : Nifty 100 Allotment date: July 27, 2005 Folio Count: 20,524 AAUM: ` crs AUM: ` crs To generate capital appreciation from a diversified portfolio of equity and equity related securities. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%. b) For redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units: Nil. Regular: 2.56%; Direct: 1.51% Investment Style: Style 61.53% % Value Blend Growth Size Large Mid Small Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Maruti Suzuki India Limited Auto 5.44 Larsen And Toubro Ltd. Construction Project 5.12 Hindustan Unilever Ltd. Consumer Non Durables 4.97 HDFC Bank Ltd. Banks 4.94 Reliance Industries Ltd. Petroleum Products 4.84 Tata Consultancy Services Ltd. Software 4.33 Tech Mahindra Ltd. Software 3.31 Bajaj Finance Limited Finance 3.00 Titan Company Ltd. Consumer Durables 2.47 Infosys Ltd. Software 2.35 Jubilant Foodworks Limited Consumer Non Durables 2.04 Biocon Ltd. Pharmaceuticals 2.00 Britannia Industries Ltd. Consumer Non Durables 1.99 Wipro Ltd. Software 1.93 Jindal Steel & Power Ltd. Ferrous Metals 1.72 Edelweiss Financial Services Ltd Finance 1.60 Bharti Airtel Ltd. Telecom - Services 1.49 GAIL (India) Ltd. Gas 1.47 Tata Steel Limited. Ferrous Metals 1.30 Power Grid Corporation Of India Ltd Power 1.21 Inter Globe Aviation Ltd Transportation 1.07 National Thermal Power Corporation Limited Power 1.01 Hero MotoCorp Ltd. Auto 0.98 Shriram Transport Finance Co Ltd. Finance 0.85 HDFC Ltd. Warrants Finance 0.80 Motherson Sumi Systems Ltd. Auto Ancillaries 0.77 Zee Entertainment Enterprises Ltd Media and Entertainment 0.77 Hindalco Industries Ltd Non - Ferrous Metals 0.68 Sun TV Limited. Media and Entertainment 0.68 Mahindra & Mahindra Ltd. Auto 0.67 Galaxy Surfactants Ltd Chemicals 0.63 Godrej Agrovet Ltd Consumer Non Durables 0.61 ITC Ltd. Consumer Non Durables 0.61 Indraprastha Gas Ltd. Gas 0.60 AU Small Finance Bank Ltd. Banks 0.58 Aditya Birla Capital Ltd Finance 0.56 Amber Enterprises India Ltd Consumer Durables 0.52 Tata Communications Ltd Telecom - Services 0.52 Note: #Term Deposit as provided above is towards margin for derivatives transactions Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) Nifty 100 (TRI) ( `)# Nifty 100 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) SYSTEMATIC INVESTMENT PLAN (SIP) HDFC Ltd. Finance 0.51 Bajaj Finserv Ltd. Finance 0.50 Mahindra & Mahindra Financial Services Ltd. Finance 0.50 Vedanta Ltd. Non - Ferrous Metals 0.50 State Bank Of India Banks 0.46 HCL Technologies Ltd. Software 0.42 RBL Bank Ltd Banks 0.41 Grasim Industries Ltd. Cement 0.39 Piramal Enterprises Limited Pharmaceuticals 0.39 Eris Lifesciences Ltd Pharmaceuticals 0.38 Federal Bank Ltd. Banks 0.38 United Spirits Ltd. Consumer Non Durables 0.37 Avenue Supermarts Ltd Retailing 0.33 Laurus Labs Ltd Pharmaceuticals 0.31 JSW Steel Ltd. Ferrous Metals 0.30 The Ramco Cements Ltd Cement 0.26 Eicher Motors Ltd Auto 0.17 Hindustan Petroleum Corporation Ltd Petroleum Products 0.17 Tata Steel Limited (Partly Paid Shares) Ferrous Metals 0.05 IndusInd Bank Ltd. Banks 0.02 Listed/Awaiting Listing on Stock Exchange - Total Preference Shares Listed/Awaiting listing on Stock Exchange 7.5% Vedanta Reedemable Preference Shares Non - Ferrous Metals 0.06 Listed/Awaiting listing on Stock Exchange - Total 0.06 Futures CNX NIFTY-APR HDFC Bank Ltd.-APR IndusInd Bank Ltd.-APR ICICI Bank Ltd.-APR HCL Technologies Ltd.-APR RBL Bank Ltd-APR Futures (Market value represents Notional Value) - Total TERM DEPOSITS AXIS Bank Ltd Term Deposits - Total 2.63 Collateral Borrowing & Lending obligation Net Current /(Liabilities) Systematic Investment Plan (SIP) If you had invested `10,000 every month 1 year 3 years 5 years 7 years 10 years Since Inception 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 15,30,000 1,25,374 4,45,484 8,61,677 14,14,453 24,62,299 36,02, ,22,324 4,31,558 8,28,458 13,45,165 23,40,018 35,06, ,22,328 4,25,727 8,02,644 12,89,007 22,08,248 32,96, Inception : - July 27,2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Classic Equity NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) SECTOR ALLOCATION (%) 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 Financial Services Consumer Goods Information Technology Energy Cash & Cash Equivalent Automobile Others Construction Metals Pharma * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

9 KOTAK OPPORTUNITIES An Open - Ended Equity Growth Fund Manager: Mr. Harsha Upadhyaya* : Nifty 500 Allotment date: September 9, 2004 Folio Count: 1,37,097 AAUM: `2, crs AUM: `2, crs To generate capital appreciation from a diversified portfolio of equity and equity related securities. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover Beta Sharpe ## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1% b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units: NIL Regular: 2.08%; Direct: 0.92% Investment Style Style 32.01% % Value Blend Growth Size Large Mid Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks 6.00 Reliance Industries Ltd. Petroleum Products 4.31 Larsen And Toubro Ltd. Construction Project 3.89 HDFC Ltd. Finance 3.87 Gujarat State Petronet Ltd. Gas 3.06 ICICI Bank Ltd. Banks 2.95 Coromandel International Ltd. Fertilisers 2.84 Bharat Financial Inclusion Limited Finance 2.79 Infosys Ltd. Software 2.64 ITC Ltd. Consumer Non Durables 2.28 Hero MotoCorp Ltd. Auto 2.26 ICICI Lombard General Insurance Company Ltd Finance 2.19 Inter Globe Aviation Ltd Transportation 2.19 The Ramco Cements Ltd Cement 2.15 Zee Entertainment Enterprises Ltd Media and Entertainment 2.08 Schaeffler India Ltd Industrial Products 1.99 GAIL (India) Ltd. Gas 1.98 Axis Bank Ltd Banks 1.95 Max Financial Services Ltd. Finance 1.92 Century Textiles & Industries Ltd. Cement 1.82 Godrej Agrovet Ltd Consumer Non Durables 1.82 Thermax Ltd. Industrial Capital Goods 1.81 Shree Cement Ltd. Cement 1.72 Maruti Suzuki India Limited Auto 1.69 State Bank Of India Banks 1.59 Indraprastha Gas Ltd. Gas 1.57 Avenue Supermarts Ltd Retailing 1.55 Bata India Ltd. Consumer Durables 1.47 Indian Bank Banks 1.46 OCL India Ltd Cement 1.43 Jindal Steel & Power Ltd. Ferrous Metals 1.39 Bajaj Finance Limited Finance 1.28 Jubilant Foodworks Limited Consumer Non Durables 1.23 Petronet LNG Ltd. Gas 1.23 Bharat Earth Movers Ltd. Industrial Capital Goods 1.22 Britannia Industries Ltd. Consumer Non Durables 1.16 SYSTEMATIC INVESTMENT PLAN (SIP) Inception : - September 09, The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Opportunities NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) SECTOR ALLOCATION (%) Note: Term Deposit as provided above is towards margin for derivatives transactions Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) Nifty 500 (TRI) ( `)# Nifty 500 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) UPL Ltd Pesticides 1.16 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.14 Healthcare Global Enterprises Ltd Healthcare Services 1.10 Yes Bank Ltd Banks 1.10 SRF Ltd. Textile Products 1.08 Bharat Petroleum Corporation Ltd. Petroleum Products 1.07 TI Financial Holding ltd. Finance 1.03 DR.Lal Pathlabs Ltd Healthcare Services 1.02 Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.99 Heritage Foods Ltd Consumer Non Durables 0.99 JK Cement Ltd. Cement 0.99 Arvind Ltd Textile Products 0.98 AIA Engineering Limited Industrial Products 0.92 Linde India Ltd. Chemicals 0.81 Techno Electric & Engineering Co Ltd. Construction Project 0.75 Whirlpool of India Ltd. Consumer Durables 0.60 Equitas Holdings Ltd Finance 0.53 National Buildings Construction Corporation Limited Construction 0.50 HDFC Ltd. Warrants Finance 0.45 Multi Commodity Exchange of India Limited Finance 0.41 Edelweiss Financial Services Ltd Finance 0.40 Container Corporation of India Ltd. Transportation 0.39 ICICI Securities Ltd Finance and Investments 0.24 Swaraj Engines Ltd Industrial Products 0.24 Listed/Awaiting Listing on Stock Exchange - Total Preference Shares Listed/Awaiting listing on Stock Exchange 6% Redm Preference Sh Zee Entertainment Enterprises Ltd Media and Entertainment 0.04 Listed/Awaiting listing on Stock Exchange - Total 0.04 TERM DEPOSITS AXIS Bank Ltd Term Deposits - Total 0.57 Collateral Borrowing & Lending obligation 2.18 Net Current /(Liabilities) Systematic Investment Plan (SIP) If you had invested `10,000 every month 1 year 3 years 5 years 7 years 10 years Since Inception 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 16,30,000 1,19,245 4,34,876 8,99,519 15,03,034 26,47,450 49,95, ,22,282 4,39,110 8,60,295 13,96,560 24,02,754 41,65, ,22,328 4,25,727 8,02,644 12,89,007 22,08,199 39,14, Small 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. Financial Services Energy Consumer Goods Cement & Cement Products Industrial Manufacturing Construction Fertilisers & Pesticides Automobile Information Technology Services If you have trouble imagining a 20% loss in the stock market, you shouldn't be in stocks. John Bogle * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

10 KOTAK SELECT FOCUS FUND An Open - Ended Equity Fund Manager: Mr. Harsha Upadhyaya* : Nifty 200 Allotment date: September 11, 2009 Folio Count: 9,83,111 AAUM: `17, crs AUM: `17, crs 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 Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units:1% b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units: NIL Regular:1.97%; Direct: 1.00% Investment Style Style 14.77% % Value Blend Growth Size Large Mid Small Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks 7.40 Larsen And Toubro Ltd. Construction Project 5.51 Reliance Industries Ltd. Petroleum Products 4.94 HDFC Ltd. Finance 4.81 ICICI Bank Ltd. Banks 3.90 IndusInd Bank Ltd. Banks 3.30 Infosys Ltd. Software 3.30 Hero MotoCorp Ltd. Auto 3.27 Maruti Suzuki India Limited Auto 2.98 State Bank Of India Banks 2.87 ITC Ltd. Consumer Non Durables 2.79 RBL Bank Ltd Banks 2.41 GAIL (India) Ltd. Gas 2.31 Ultratech Cement Ltd. Cement 2.21 The Ramco Cements Ltd Cement 1.88 Shree Cement Ltd. Cement 1.81 Bajaj Finance Limited Finance 1.73 Axis Bank Ltd Banks 1.72 ICICI Lombard General Insurance Company Ltd Finance 1.71 Indraprastha Gas Ltd. Gas 1.69 Britannia Industries Ltd. Consumer Non Durables 1.67 Petronet LNG Ltd. Gas 1.62 Bharat Electronics Ltd Industrial Capital Goods 1.43 Mahindra & Mahindra Ltd. Auto 1.41 Container Corporation of India Ltd. Transportation 1.26 SBI Life Insurance Company Ltd Finance 1.16 HDFC Standard Life Insurance Company Ltd Finance 1.08 Arvind Ltd Textile Products 1.07 Jindal Steel & Power Ltd. Ferrous Metals 1.06 MRF Limited Auto Ancillaries 1.06 Century Textiles & Industries Ltd. Cement 1.04 Godrej Consumer Products Ltd. Consumer Non Durables 1.04 Bharat Petroleum Corporation Ltd. Petroleum Products 1.03 Hindustan Petroleum Corporation Ltd Petroleum Products 1.01 Kec International Ltd. Construction Project 0.94 Bajaj Finserv Ltd. Finance 0.85 Max Financial Services Ltd. Finance 0.79 Inter Globe Aviation Ltd Transportation 0.78 Cadila Healthcare Ltd. Pharmaceuticals 0.76 Bata India Ltd. Consumer Durables 0.74 Note: Term Deposit as provided above is towards margin for derivatives transactions Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) Nifty 200 (TRI) ( `)# Nifty 200 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) Ashok Leyland Ltd. Auto 0.66 Bayer Cropscience Ltd. Pesticides 0.61 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 0.58 Bharat Earth Movers Ltd. Industrial Capital Goods 0.56 Solar Industries India Limited Chemicals 0.56 Tata Motors Ltd. Auto 0.51 Federal Bank Ltd. Banks 0.50 Jubilant Foodworks Limited Consumer Non Durables 0.50 Equitas Holdings Ltd Finance 0.49 Techno Electric & Engineering Co Ltd. Construction Project 0.37 Laurus Labs Ltd Pharmaceuticals 0.34 AIA Engineering Limited Industrial Products 0.31 HDFC Ltd. Warrants Finance 0.24 Whirlpool of India Ltd. Consumer Durables 0.24 Avenue Supermarts Ltd Retailing 0.22 Bandhan Bank Limited Banks 0.18 Max India Limited Healthcare Services 0.11 Kirloskar Oil Engines Ltd. Industrial Products 0.08 Listed/Awaiting Listing on Stock Exchange - Total Preference Shares Listed/Awaiting listing on Stock Exchange 6% Redm Preference Sh Zee Entertainment Enterprises Ltd Media and Entertainment 0.01 Listed/Awaiting listing on Stock Exchange - Total 0.01 Futures CNX NIFTY-APR Inter Globe Aviation Ltd-APR IndusInd Bank Ltd.-APR RBL Bank Ltd-APR Futures (Market value represents Notional Value) - Total 2.43 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Public Sector Undertakings Export-Import Bank of India CRISIL A National Bank for Agriculture & Rural Development CRISIL A Public Sector Undertakings - Total 1.11 TERM DEPOSITS HDFC Bank Ltd AXIS Bank Ltd Term Deposits - Total 2.74 Collateral Borrowing & Lending obligation 5.54 Net Current /(Liabilities) SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month 1 year 3 years 5 years 7 years Since Inception 1,20,000 3,60,000 6,00,000 8,40,000 10,30,000 1,20,348 4,40,321 9,31,257 15,97,418 21,43, ,22,331 4,34,952 8,43,085 13,67,710 17,84, ,22,328 4,25,727 8,02,644 12,89,007 16,86, Inception : - September 11, The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Select Focus Fund NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) SECTOR ALLOCATION (%) 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 generally focussed on a few selected sectors. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Financial Services Energy Automobile Consumer Goods Cement & Cement Products Cash & Cash Equivalent Construction Information Technology Services Industrial Manufacturing Wealth is like sea-water; the more we drink, the thirstier we become; and the same is true of fame. Arthur Schopenhauer * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

11 KOTAK TAX SAVER An Open - Ended Equity Linked Savings Fund Manager: Mr. Harsha Upadhyaya* : Nifty 500 Allotment date: November 23, 2005 Folio Count: 1,32,071 AAUM: ` crs AUM: ` crs 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 Source: ICRA MFI Explorer. Initial Investment: `500 and in multiple of `500 Additional Investment: `500 & in multiples of `500 Ideal Investments Horizon: 3 years & above Exit Load: Exit Load is not applicable for Kotak Tax Saver. (applicable for all plans) Regular: 2.17%; Direct: 1.21% Investment Style Style 31.23% % Value Blend Growth Size Large Mid Small Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks 6.31 Reliance Industries Ltd. Petroleum Products 5.09 Larsen And Toubro Ltd. Construction Project 4.47 HDFC Ltd. Finance 3.81 Infosys Ltd. Software 3.55 IndusInd Bank Ltd. Banks 3.50 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 3.40 ICICI Bank Ltd. Banks 3.23 Shree Cement Ltd. Cement 2.71 SKF India Ltd Industrial Products 2.45 OCL India Ltd Cement 2.35 Mahanagar Gas Ltd Gas 2.32 GAIL (India) Ltd. Gas 2.29 Ultratech Cement Ltd. Cement 2.20 Whirlpool of India Ltd. Consumer Durables 2.10 RBL Bank Ltd Banks 2.04 Thermax Ltd. Industrial Capital Goods 1.90 ITC Ltd. Consumer Non Durables 1.87 Solar Industries India Limited Chemicals 1.67 Bajaj Finance Limited Finance 1.60 Techno Electric & Engineering Co Ltd. Construction Project 1.56 The Ramco Cements Ltd Cement 1.51 Bharat Petroleum Corporation Ltd. Petroleum Products 1.49 Axis Bank Ltd Banks 1.42 State Bank Of India Banks 1.39 APL Apollo Tubes Limited Ferrous Metals 1.38 Cadila Healthcare Ltd. Pharmaceuticals 1.32 AU Small Finance Bank Ltd. Banks 1.29 Yes Bank Ltd Banks 1.27 Maruti Suzuki India Limited Auto 1.23 SRF Ltd. Textile Products 1.23 Bandhan Bank Limited Banks 1.22 Bata India Ltd. Consumer Durables 1.22 Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) Nifty 500 (TRI) ( `)# Nifty 500 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) SYSTEMATIC INVESTMENT PLAN (SIP) UPL Ltd Pesticides 1.22 Gujarat State Petronet Ltd. Gas 1.19 Nestle India Ltd. Consumer Non Durables 1.14 Amara Raja Batteries Ltd. Auto Ancillaries 1.11 Arvind Ltd Textile Products 1.07 Jindal Steel & Power Ltd. Ferrous Metals 1.07 Colgate Palmolive (India ) Ltd. Consumer Non Durables 1.03 AIA Engineering Limited Industrial Products 1.00 Zee Entertainment Enterprises Ltd Media and Entertainment 1.00 Tejas Networks Ltd Telecom - Equipment & Accessories 0.99 SpiceJet Ltd. Transportation 0.96 JMC Projects (India) Ltd Construction 0.92 Linde India Ltd. Chemicals 0.91 Container Corporation of India Ltd. Transportation 0.87 Vedanta Ltd. Non - Ferrous Metals 0.87 Max Financial Services Ltd. Finance 0.85 Laurus Labs Ltd Pharmaceuticals 0.84 Hindustan Oil Exploration Company Ltd. Oil 0.78 Strides Shasun Ltd. Pharmaceuticals 0.70 Hawkins Cooker Ltd Household Appliances 0.58 Multi Commodity Exchange of India Limited Finance 0.46 Blue Dart Express Ltd. Transportation 0.44 KSB Pump Ltd Industrial Products 0.43 Listed/Awaiting Listing on Stock Exchange - Total Preference Shares Listed/Awaiting listing on Stock Exchange 6% Redm Preference Sh Zee Entertainment Enterprises Ltd Media and Entertainment 0.08 Listed/Awaiting listing on Stock Exchange - Total 0.08 Collateral Borrowing & Lending obligation 2.25 Net Current /(Liabilities) 0.85 Systematic Investment Plan (SIP) If you had invested `10,000 every month 1 year 3 years 5 years 7 years 10 years Since Inception 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 14,90,000 1,17,915 4,22,175 8,74,445 14,16,218 24,26,295 32,65, ,22,282 4,39,110 8,60,295 13,96,560 24,02,945 33,32, ,22,328 4,25,727 8,02,644 12,89,007 22,08,248 30,96, Inception : - November 23, The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Tax Saver NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) SECTOR ALLOCATION (%) Investors understand that their principal will be at moderately high risk 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 Financial Services Energy Consumer Goods Construction Cement & Cement Products Industrial Manufacturing Information Technology Metals Pharma Services 7 I'm only rich because I know when I'm wrong I basically have survived by recognizing my mistakes. George Soros * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

12 KOTAK MID-CAP An Open - Ended Equity Growth Fund Manager: Mr. Pankaj Tibrewal* : Nifty Midcap 100 Allotment date: February 24, 2005 Folio Count: 56,855 AAUM: ` crs AUM: ` crs To generate capital appreciation from a diversified portfolio of equity and equity related securities. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units:1% b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units:nil Regular: 2.32%; Direct: 1.20% Investment Style Style 62.02% % Value Blend Growth Size Large Mid Small Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Dixon Technologies India Ltd Consumer Durables 3.55 Atul Ltd. Chemicals 3.36 Schaeffler India Ltd Industrial Products 2.83 Solar Industries India Limited Chemicals 2.74 JK Cement Ltd. Cement 2.73 Apollo Pipes Ltd Finance and Investments 2.61 IndusInd Bank Ltd. Banks 2.60 RBL Bank Ltd Banks 2.55 Prataap Snacks Ltd Consumer Non Durables 2.45 V.S.T Tillers Tractors Ltd Auto 2.37 Techno Electric & Engineering Co Ltd. Construction Project 2.25 Finolex Cables Ltd. Industrial Products 2.17 MRF Limited Auto Ancillaries 2.15 Shriram City Union Finance Ltd. Finance 2.13 Federal Bank Ltd. Banks 2.11 The Ramco Cements Ltd Cement 2.07 Sun TV Limited. Media and Entertainment 1.98 Motherson Sumi Systems Ltd. Auto Ancillaries 1.96 APL Apollo Tubes Limited Ferrous Metals 1.95 Galaxy Surfactants Ltd Chemicals 1.95 Lux Industries Limited Textile Products 1.94 Mahindra & Mahindra Financial Services Ltd. Finance 1.89 Thermax Ltd. Industrial Capital Goods 1.86 Godrej Agrovet Ltd Consumer Non Durables 1.83 Supreme Industries Limited Industrial Products 1.83 JMC Projects (India) Ltd Construction 1.77 Kewal Kiran Clothing Limited. Textile Products 1.72 AU Small Finance Bank Ltd. Banks 1.71 SKF India Ltd Industrial Products 1.71 Eveready Industries India Ltd. Consumer Non Durables 1.70 Ratnamani Metals & Tubes Ltd. Ferrous Metals 1.68 Note: Midcap stocks as a % age of Net : 63.32% Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) Nifty Free Float Midcap 100 (TRI) ( `)# Nifty Free Float Midcap 100 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) SYSTEMATIC INVESTMENT PLAN (SIP) Heritage Foods Ltd Consumer Non Durables 1.61 Bajaj Finserv Ltd. Finance 1.59 Bajaj Finance Limited Finance 1.53 Persistent Systems Limited Software 1.53 Laurus Labs Ltd Pharmaceuticals 1.43 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.41 Hawkins Cooker Ltd Household Appliances 1.36 Hindustan Oil Exploration Company Ltd. Oil 1.35 Bharat Forge Ltd. Industrial Products 1.34 Tata Global Beverages Limited Consumer Non Durables 1.34 Sundaram Finance Ltd. Finance 1.30 Cadila Healthcare Ltd. Pharmaceuticals 1.27 Hindustan Petroleum Corporation Ltd Petroleum Products 1.22 Amber Enterprises India Ltd Consumer Durables 1.21 Apollo Hospitals Enterprises Ltd. Healthcare Services 1.13 Navneet Education Ltd. Media and Entertainment 1.13 Amara Raja Batteries Ltd. Auto Ancillaries 1.12 Gujarat State Petronet Ltd. Gas 1.06 Strides Shasun Ltd. Pharmaceuticals 1.02 Arvind Ltd Textile Products 0.99 Inter Globe Aviation Ltd Transportation 0.94 Punjab National Bank Banks 0.75 Avenue Supermarts Ltd Retailing 0.73 Canara Bank Banks 0.63 Whirlpool of India Ltd. Consumer Durables 0.60 Shree Cement Ltd. Cement 0.59 PVR Ltd Media and Entertainment 0.55 Sundaram Finance Holdings Limited. Finance 0.22 Listed/Awaiting Listing on Stock Exchange - Total Collateral Borrowing & Lending obligation 2.20 Net Current /(Liabilities) Systematic Investment Plan (SIP) If you had invested `10,000 every month 1 year 3 years 5 years 7 years 10 years Since Inception 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 15,80,000 1,22,432 4,56,880 10,36,863 17,80,408 33,39,909 51,13, ,20,166 4,54,963 9,84,089 16,30,364 29,33,039 48,07, ,22,328 4,25,727 8,02,644 12,89,007 22,08,248 35,90, Inception : - February 24,2005. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Mid-cap NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) SECTOR ALLOCATION (%) 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 stocks. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Financial Services Industrial Manufacturing Consumer Goods Chemicals Automobile Cement & Cement Products Pharma Construction Media & Entertainment Energy If we command our wealth, we shall be rich and free. If our wealth commands us, we are poor indeed. Edmund Burke * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

13 KOTAK EMERGING EQUITY An Open - Ended Equity Growth Fund Manager: Mr. Pankaj Tibrewal* : S&P BSE MID SMALL CAP Allotment date: March 30, 2007 Folio Count: 2,39,811 AAUM: `2, crs AUM: `3, crs The investment objective of the scheme is to generate long-term capital appreciation from a portfolio of equity and equity related securities, by investing predominantly in mid and small cap companies. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units:1%. b) For redemption/switch outs (including SIP/STP) after 1 year from the date of allotment of units: Nil. Regular: 2.05%; Direct: 1.10% Investment Style Style 32.65% % Value Blend Growth Size Large Mid Small Equity & Equity related (Listed/Awaiting listing on Stock Exchange) IndusInd Bank Ltd. Banks 3.99 Schaeffler India Ltd Industrial Products 3.38 Atul Ltd. Chemicals 3.09 The Ramco Cements Ltd Cement 2.90 RBL Bank Ltd Banks 2.81 Bata India Ltd. Consumer Durables 2.73 Supreme Industries Limited Industrial Products 2.51 Solar Industries India Limited Chemicals 2.48 Finolex Cables Ltd. Industrial Products 2.39 Shriram City Union Finance Ltd. Finance 2.31 APL Apollo Tubes Limited Ferrous Metals 2.23 Godrej Agrovet Ltd Consumer Non Durables 2.17 Emami Ltd. Consumer Non Durables 2.16 Federal Bank Ltd. Banks 2.13 SKF India Ltd Industrial Products 2.12 Thermax Ltd. Industrial Capital Goods 2.11 Eveready Industries India Ltd. Consumer Non Durables 1.95 Motherson Sumi Systems Ltd. Auto Ancillaries 1.94 Coromandel International Ltd. Fertilisers 1.90 Kajaria Ceramics Ltd. Construction 1.84 Sundaram Finance Ltd. Finance 1.82 Edelweiss Financial Services Ltd Finance 1.69 Kewal Kiran Clothing Limited. Textile Products 1.69 Future Retail Ltd. Retailing 1.64 Mahindra & Mahindra Financial Services Ltd. Finance 1.60 Apollo Hospitals Enterprises Ltd. Healthcare Services 1.50 Persistent Systems Limited Software 1.49 Navneet Education Ltd. Media and Entertainment 1.45 Whirlpool of India Ltd. Consumer Durables 1.44 Amara Raja Batteries Ltd. Auto Ancillaries 1.43 Eris Lifesciences Ltd Pharmaceuticals 1.42 Lux Industries Limited Textile Products 1.41 Britannia Industries Ltd. Consumer Non Durables 1.38 Gujarat State Petronet Ltd. Gas 1.36 Inter Globe Aviation Ltd Transportation 1.36 Bajaj Finance Limited Finance 1.34 SYSTEMATIC INVESTMENT PLAN (SIP) Oberoi Realty Ltd Construction 1.30 Kirloskar Oil Engines Ltd. Industrial Products 1.29 Hawkins Cooker Ltd Household Appliances 1.27 V-Guard Industries Ltd. Industrial Capital Goods 1.26 SRF Ltd. Textile Products 1.23 Laurus Labs Ltd Pharmaceuticals 1.20 Ramkrishna Forgings Ltd. Industrial Products 1.20 ICICI Bank Ltd. Banks 1.17 Torrent Pharmaceuticals Ltd. Pharmaceuticals 1.16 City Union Bank Ltd. Banks 1.15 Bharat Earth Movers Ltd. Industrial Capital Goods 1.12 Equitas Holdings Ltd Finance 1.06 Sheela Foam Ltd Consumer Durables 1.06 Indraprastha Gas Ltd. Gas 1.03 PNC INFRATECH LIMITED Construction 0.97 Divi s Laboratories Limited Pharmaceuticals 0.80 Abbott India Ltd. Pharmaceuticals 0.78 Zee Entertainment Enterprises Ltd Media and Entertainment 0.73 TI Financial Holding ltd. Finance 0.71 MRF Limited Auto Ancillaries 0.69 Carborundum Universal Ltd. Industrial Products 0.64 Strides Shasun Ltd. Pharmaceuticals 0.58 WPIL Ltd Industrial Products 0.54 D-Link (India) Ltd Hardware 0.36 Sundaram Finance Holdings Limited. Finance 0.34 Pennar Engineered Building Systems Limited Ferrous Metals 0.07 Listed/Awaiting Listing on Stock Exchange - Total Futures MRF Limited-APR Futures (Market value represents Notional Value) - Total 0.49 TERM DEPOSITS AXIS Bank Ltd Term Deposits - Total 0.50 Collateral Borrowing & Lending obligation 2.89 Net Current /(Liabilities) Notes: Term Deposit as provided above is towards margin for derivatives transactions. Midcap and Small cap stocks as a % age of Net : 85.44%. Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) S&P BSE MidSmallCap (TRI) ( `)# S&P BSE MidSmallCap (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) Systematic Investment Plan (SIP) If you had invested `10,000 every month 1 year 3 years 5 years 7 years 10 years Since Inception 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 13,30,000 1,22,834 4,61,074 10,93,838 19,20,262 35,07,123 39,27, ,22,598 4,71,847 10,19,001 16,85,458 29,59,662 33,66, ,22,328 4,25,727 8,02,644 12,89,007 22,08,248 25,26, Inception : - March 30, The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Emerging Equity NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) SECTOR ALLOCATION (%) 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 & small cap companies * Investors should consult their financial advisors if in doubt about whether the product is suitable for them Financial Services Industrial Manufacturing Consumer Goods Pharma Chemicals Automobile Services Construction Cement & Cement Products Textiles * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

14 KOTAK EQUITY ARBITRAGE An Open - Ended Equity Growth Fund Manager: Mr. Deepak Gupta* : Nifty 50 Arbitrage Allotment date: September 29, 2005 Folio Count: 23,362 AAUM: `12, crs AUM: `11, crs 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. 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 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 Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 months & above Exit Load: a) For redemptions/switch outs (including SIP/STP) within 30 days from the date of allotment of units: 0.25% b) For redemptions/switch outs (including SIP/STP) after 30 days from the date of allotment of units: Nil Regular: 0.89%; Direct: 0.39% Investment Style Style Value Blend Growth Size Large Mid Small Maturity Short Medium Long Volatility Medium % % 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. % to Net Derivatives Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Hedged Indiabulls Housing Finance Ltd. Finance Sun Pharmaceuticals Industries Ltd. Pharmaceuticals State Bank Of India Banks ICICI Bank Ltd. Banks Bharti Airtel Ltd. Telecom - Services UPL Ltd Pesticides Tata Consultancy Services Ltd. Software United Spirits Ltd. Consumer Non Durables Aurobindo Pharma Ltd. Pharmaceuticals JSW Steel Ltd. Ferrous Metals Lupin Ltd. Pharmaceuticals Maruti Suzuki India Limited Auto Bajaj Finance Limited Finance Bank Of Baroda Banks Tata Global Beverages Limited Consumer Non Durables Punjab National Bank Banks Tata Steel Limited. Ferrous Metals Tata Steel Limited (Partly Paid Shares) Ferrous Metals Adani Port and Special Economic Zone Limited Transportation DLF Limited Construction ITC Ltd. Consumer Non Durables LIC Housing Finance Ltd. Finance Idea Cellular Ltd. Telecom - Services Tata Motors Ltd - DVR Auto Titan Company Ltd. Consumer Durables Ashok Leyland Ltd. Auto Power Finance Corporation Ltd. Finance IDFC Limited Finance Mahindra & Mahindra Financial Services Ltd. Finance Tata Power Co. Ltd. Power Jindal Steel & Power Ltd. Ferrous Metals Shriram Transport Finance Co Ltd. Finance MRF Limited Auto Ancillaries Steel Authority of India Ltd. Ferrous Metals Federal Bank Ltd. Banks IDFC Bank Limited Banks Tata Motors Ltd. Auto Britannia Industries Ltd. Consumer Non Durables Tata Chemicals Ltd. Chemicals Dabur India Ltd Consumer Non Durables Dewan Housing Finance Corporation Ltd. Finance Bosch Limited Auto Ancillaries CESC Ltd. Power Havells India Ltd. Consumer Durables Nestle India Ltd. Consumer Non Durables Grasim Industries Ltd. Cement HDFC Ltd. Finance Canara Bank Banks Mahindra & Mahindra Ltd. Auto Hindustan Zinc Ltd. Non - Ferrous Metals Suzlon Energy Ltd. Industrial Capital Goods Can Fin Homes Ltd. Finance L&T Finance Holdings Ltd Finance Reliance Industries Ltd. Petroleum Products Dr Reddys Laboratories Ltd Pharmaceuticals Power Grid Corporation Of India Ltd Power Vedanta Ltd. Non - Ferrous Metals Bata India Ltd. Consumer Durables Escorts Ltd. Auto Tata Communications Ltd Telecom - Services Reliance Capital Ltd. Finance National Buildings Construction Corporation Limited Construction Capital First Ltd Finance Strides Shasun Ltd. Pharmaceuticals Ambuja Cements Ltd Cement GMR Infrastructure Ltd. Construction Project NCC Limited Construction Project The South Indian Bank Ltd. Banks Yes Bank Ltd Banks Cadila Healthcare Ltd. Pharmaceuticals ICICI Prudential Life Insurance Company Ltd Finance RBL Bank Ltd Banks Hindustan Petroleum Corporation Ltd Petroleum Products Equitas Holdings Ltd Finance Industrial Development Bank of India Ltd. Banks Karnataka Bank Ltd Banks * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

15 KOTAK EQUITY ARBITRAGE An Open - Ended Equity Growth % to Net Derivatives Century Textiles & Industries Ltd. Cement Development Credit Bank Ltd. Banks Indraprastha Gas Ltd. Gas Union Bank Of India Banks Adani Enterprises Ltd Trading CEAT Ltd. Auto Ancillaries PVR Ltd Media and Entertainment Torrent Pharmaceuticals Ltd. Pharmaceuticals Ujjivan Financial Services Ltd Finance Raymond Limited Textile Products Tata Elxsi Ltd. Software Adani Power Ltd Power India Cements Ltd. Cement IRB Infrastructure Developers Ltd Construction Reliance Infrastructure Ltd Power Godrej Industries Ltd Consumer Non Durables Marico Ltd. Consumer Non Durables Oil & Natural Gas Corporation Ltd. Oil Bajaj Finserv Ltd. Finance Indian Bank Banks Jet Airways (India) Ltd. Transportation PC Jeweller Ltd Consumer Durables Pidilite Industries Ltd. Chemicals TVS Motors Company Ltd Auto Eicher Motors Ltd Auto Jain Irrigation Systems Ltd. Industrial Products Kajaria Ceramics Ltd. Construction Shree Cement Ltd. Cement Godrej Consumer Products Ltd. Consumer Non Durables KPIT Technologies LImited Software Zee Entertainment Enterprises Ltd Media and Entertainment Bharat Heavy Electricals Ltd. Industrial Capital Goods Castrol (India ) Ltd. Petroleum Products Hindalco Industries Ltd Non - Ferrous Metals Piramal Enterprises Limited Pharmaceuticals PTC India Ltd. Power Siemens Ltd. Industrial Capital Goods Syndicate Bank Banks United Breweries Ltd. Consumer Non Durables Bank of India Banks Repco Home Finance Limited. Finance SRF Ltd. Textile Products Bharat Electronics Ltd Industrial Capital Goods Reliance Power Ltd Power Voltas Ltd. Construction Project Just Dial Limited Software Motherson Sumi Systems Ltd. Auto Ancillaries Sun TV Limited. Media and Entertainment Wockhardt Ltd. Pharmaceuticals Bajaj Auto Ltd. Auto Ajanta Pharma Ltd. Pharmaceuticals Chennai Petroleum Corporation Ltd Petroleum Products Gujarat State Fertilizers & Chemicals Ltd. Fertilisers TV18 Broadcast Ltd Media and Entertainment Axis Bank Ltd Banks Bharat Earth Movers Ltd. Industrial Capital Goods Container Corporation of India Ltd. Transportation Dish TV India Ltd. Media and Entertainment Mahanagar Gas Ltd Gas National Aluminium Company Ltd Non - Ferrous Metals NIIT Technologies Ltd Software Petronet LNG Ltd. Gas Reliance Naval and Engineering Limited Industrial Capital Goods Rural Electrification Corporation Ltd Finance NMDC Ltd. Minerals/Mining Divi s Laboratories Limited Pharmaceuticals Exide Industries Ltd Auto Ancillaries Granules India Ltd. Pharmaceuticals MindTree Ltd. Software SREI Infrastructure Finance Ltd Finance Allahabad Bank. Banks Andhra Bank Banks Apollo Tyres Ltd. Auto Ancillaries Bharat Forge Ltd. Industrial Products Godfrey Phillips India Ltd. Consumer Non Durables Jaiprakash Associates Ltd Cement Jubilant Foodworks Limited Consumer Non Durables Manappuram Finance Ltd Finance Hero MotoCorp Ltd. Auto

16 KOTAK EQUITY ARBITRAGE An Open - Ended Equity Growth % to Net Derivatives IFCI Ltd. Finance Kaveri Seed Company Ltd. Consumer Non Durables Torrent Power Ltd Power GAIL (India) Ltd. Gas Housing Development and Infrastructure Limited Construction Muthoot Finance Ltd Finance Oriental Bank of Commerce Banks Bharat Financial Inclusion Limited Finance Cipla Ltd. Pharmaceuticals Apollo Hospitals Enterprises Ltd. Healthcare Services Balrampur Chini Mills Ltd Consumer Non Durables CG Power and Industrial Solutions Limited Industrial Capital Goods Cholamandalam Investment and Finance Company Ltd Finance Max Financial Services Ltd. Finance Balkrishna Industries Ltd Auto Ancillaries Cummins India Ltd. Industrial Products Hindustan Construction Co.Ltd Construction Project Larsen And Toubro Ltd. Construction Project Wipro Ltd. Software Hindustan Unilever Ltd. Consumer Non Durables Amara Raja Batteries Ltd. Auto Ancillaries Engineers India Ltd. Construction Project Glenmark Pharmaceuticals Ltd Pharmaceuticals Indian Oil Corporation Ltd Petroleum Products Page Industries Ltd Textile Products Hedged - Total Listed/Awaiting Listing on Stock Exchange - Total Mutual Fund Units Kotak Floater Short Term Direct Growth Mutual Fund Units 1.69 Kotak Corporate Bond Fund Direct Growth Mutual Fund Units 0.47 Mutual Fund Units - Total 2.16 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions HDFC Ltd. CRISIL AAA 2.53 Indiabulls Housing Finance Ltd. ICRA AAA 1.78 Kotak Mahindra Prime Ltd. CRISIL AAA 1.42 ICICI Home Finance Company Limited ICRA AAA 0.56 Shriram Transport Finance Co Ltd. FITCH IND AA Corporate Debt/Financial Institutions - Total 6.77 TERM DEPOSITS HDFC Bank Ltd AXIS Bank Ltd IDFC Bank Limited 1.33 IndusInd Bank Ltd Term Deposits - Total Collateral Borrowing & Lending obligation 0.50 Net Current /(Liabilities) 6.16 Note:Term Deposit as provided above is towards margin for derivatives transactions Kotak Equity Arbitrage NAV as on March 28, 2018: ` (Monthly Dividend Option), ` (Direct monthly Dividend Option), ` (Growth Option), ` (Direct Growth Option), ` (Bimonthly Option), ` (Direct Bimonthly Option), ` (Fortnightly Dividend, ` (Direct Fortnightly Dividend) SECTOR ALLOCATION (%) CBLO & Term Deposits & Rev.Repo Finance Banks Pharmaceuticals Debentures and Bonds Consumer Non Durables Auto Ferrous Metals Telecom - Services Software Others The art is not in making money, but in keeping it. 14

17 KOTAK BALANCE An Open - Ended Balanced Fund Manager: Mr. Pankaj Tibrewal and Mr. Abhishek Bisen* : CRISIL Hybrid Aggressive Index Allotment date: November 25, 1999 Folio Count: 51,040 AAUM: `2, crs AUM: `2, crs To achieve growth by investing in equity & equity related instruments, balanced with income generation by investing in debt &money market instruments. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Half Yearly (25th of Mar/Sep) Ratios Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Exit Load: a) For redemption/switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil. b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%. c) If units are redeemed or switched out on or alter 1 year from the date of allotment: Nil. Regular: 2.09%; Direct: 0.89% Investment Style Style 33.93% Value Blend Growth Size Large Investors understand that their principal will be at moderately high risk % Mid Small This product is suitable for investors who are seeking*: Long term capital growth Investment in equity & equity related securities balanced with income generation by investing in debt & money market instruments * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. SECTOR ALLOCATION (%) Equity & Equity related (Listed/Awaiting listing on Stock Insurance Company Ltd Finance 0.65 Exchange) Persistent Systems Limited Software 0.63 HDFC Bank Ltd. Banks 3.27 Mcleod Russel India Ltd Consumer Non Durables 0.61 Shree Cement Ltd. Cement 2.35 JMC Projects (India) Ltd Construction 0.60 State Bank Of India Banks 2.18 Kirloskar Oil Engines Ltd. Industrial Products 0.60 Schaeffler India Ltd Industrial Products 1.95 Bharti Airtel Ltd. Telecom - Services 0.59 IndusInd Bank Ltd. Banks 1.92 Future Supply Chain ICICI Bank Ltd. Banks 1.88 Solutions Ltd Retailing 0.53 Larsen And Toubro Ltd. Construction Project 1.85 Punjab National Bank Banks 0.52 ITC Ltd. Consumer Non Durables 1.77 Bharat Earth Movers Ltd. Industrial Capital Goods 0.46 V.S.T Tillers Tractors Ltd Auto 1.74 Mahindra & Mahindra Infosys Ltd. Software 1.72 Financial Services Ltd. Finance 0.41 HDFC Ltd. Finance 1.58 Apollo Hospitals Enterprises Ltd. Healthcare Services 0.38 GlaxoSmithkline Consumer Jubilant Foodworks Limited Consumer Non Durables 0.35 Healthcare Ltd Consumer Non Durables 1.57 MRF Limited Auto Ancillaries 0.32 Atul Ltd. Chemicals 1.55 ICICI Securities Ltd Finance and Investments 0.30 JK Cement Ltd. Cement 1.54 SBI Life Insurance Company Ltd Finance 0.27 RBL Bank Ltd Banks 1.51 HDFC Ltd. Warrants Finance 0.22 Mahindra & Mahindra Ltd. Auto 1.50 Listed/Awaiting Listing on Stock Exchange - Total The Ramco Cements Ltd Cement 1.46 Debt Instruments Thermax Ltd. Industrial Capital Goods 1.41 Debentures and Bonds Tata Motors Ltd. Auto 1.32 Corporate Debt/Financial Institutions Inter Globe Aviation Ltd Transportation 1.31 LIC Housing Finance Ltd. CRISIL AAA 0.02 Maruti Suzuki India Limited Auto 1.31 Corporate Debt/Financial Institutions - Total 0.02 Reliance Industries Ltd. Petroleum Products 1.29 Public Sector Undertakings Axis Bank Ltd Banks 1.24 Bank of India CRISIL A Dixon Technologies India Ltd Consumer Durables 1.24 Allahabad Bank BRICKWORK BWR A Techno Electric & United Bank Of India CRISIL AA Engineering Co Ltd. Construction Project 1.23 U P Power Corporation Ltd CRISIL A+(SO) 1.99 Emami Ltd. Consumer Non Durables 1.18 Punjab & Sind Bank ICRA A ICICI Lombard General Vijaya Bank ICRA AA Insurance Company Ltd Finance 1.14 Syndicate Bank CARE AA GAIL (India) Ltd. Gas 1.09 Public Sector Undertakings - Total Bajaj Auto Ltd. Auto 1.07 Government Dated Securities Sun TV Limited. Media and Entertainment % Central Government SOV 4.77 Bandhan Bank Limited Banks % Central Government SOV 3.37 Bharat Petroleum 6.79% Central Government SOV 1.53 Corporation Ltd. Petroleum Products % State Government SOV 0.32 Motherson Sumi Systems Ltd. Auto Ancillaries % State Government SOV 0.09 Solar Industries India Limited Chemicals % State Government SOV 0.05 APL Apollo Tubes Limited Ferrous Metals % State Government SOV 0.03 Vedanta Ltd. Non - Ferrous Metals % State Government SOV 0.01 Finolex Cables Ltd. Industrial Products 0.94 Government Dated Securities - Total Gujarat Gas Company Ltd Gas 0.93 Money Market Instruments Federal Bank Ltd. Banks 0.92 Commercial Paper(CP)/Certificate of Deposits(CD) Zee Entertainment Corporate Debt/Financial Institutions Enterprises Ltd Media and Entertainment 0.89 HDFC Ltd. CRISIL A Galaxy Surfactants Ltd Chemicals 0.81 Corporate Debt/Financial Institutions - Total 1.09 Tata Consultancy Services Ltd. Software 0.78 TERM DEPOSITS Yes Bank Ltd Banks 0.73 AXIS Bank Ltd Edelweiss Financial Services Ltd Finance 0.69 Term Deposits - Total 0.39 Bharat Forge Ltd. Industrial Products 0.67 Collateral Borrowing & Lending obligation 0.92 Kajaria Ceramics Ltd. Construction 0.66 Net Current /(Liabilities) Laurus Labs Ltd Eris Lifesciences Ltd Pharmaceuticals Pharmaceuticals HDFC Standard Life Note: Term Deposit as provided above is towards margin for derivatives transactions Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) CRISIL Hybrid Aggressive Index( ` )# SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month CRISIL Hybrid Aggressive Index Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) 1 year 3 years 5 years 7 years 10 years Since Inception 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 22,10,000 1,21,512 4,22,000 8,07,988 12,94,623 22,06,710 1,00,67, ,22,488 4,24,088 8,12,542 12,97,520 22,03,780 NA NA 1,22,328 4,25,727 8,02,644 12,89,007 22,08,248 98,78, Inception : - November 25,1999. The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200, PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006 The existing benchmark "CRISIL Balanced Fund" has been renamed as "CRISIL Hybrid Aggressive Index" as per communication received from CRISIL Kotak Balance NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option) ` (Direct Growth Option) Debentures and Bonds Banks Government Dated Securities Auto Consumer Non Durables Cement Finance Industrial Products Chemicals Software Others * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

18 KOTAK MONTHLY INCOME PLAN An Open Ended Income. Monthly Income is not assured & is subject to availability of distributable surplus Fund Manager: Mr. Devender Singhal & AAUM: Mr. Abhishek Bisen* AUM: : CRISIL Hybrid Conservative Index Allotment date: December 02, 2003 ` crs ` crs To enhance returns over a portfolio of Debt Instruments with a moderate exposure in Equity and Equity related Instruments. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Monthly (12th of every Month) Quarterly (20th of Mar/Jun/Sep/Dec) Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: (i) Dividend Reinvestment & Growth and Dividend Payout (Quarterly) - `5000 & above (ii) Dividend Payout (Monthly) - `50,000 & above Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon - 1 year & above Exit Load: a) For redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil. b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%. c) If units are redeemed or switched out on or after 1 year from the date of allotment: Nil. Regular:2.27%; Direct: 1.07% Investment Style: Style 3.12% 3.25 yrs 8.17% Value Blend Growth Size Large Mid Equity & Equity related (Listed/Awaiting listing on Stock Exchange) ITC Ltd. Consumer Non Durables 1.70 Tata Motors Ltd. Auto 1.13 Bata India Ltd. Consumer Durables 0.99 Sun TV Limited. Media and Entertainment 0.92 HDFC Bank Ltd. Banks 0.81 Mahindra & Mahindra Ltd. Auto 0.80 Jubilant Foodworks Limited Consumer Non Durables 0.68 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.66 RBL Bank Ltd Banks 0.65 Galaxy Surfactants Ltd Chemicals 0.59 Bank Of Baroda Banks 0.57 TV18 Broadcast Ltd Media and Entertainment 0.55 Godfrey Phillips India Ltd. Consumer Non Durables 0.54 Huhtamaki PPL Ltd Industrial Products 0.52 Prataap Snacks Ltd Consumer Non Durables 0.52 Manpasand Beverages Ltd. Consumer Non Durables 0.50 City Union Bank Ltd. Banks 0.46 Bombay Burmah Trading Corporation Ltd. Consumer Non Durables 0.44 Saregama India Ltd. Media and Entertainment 0.43 Schaeffler India Ltd Industrial Products 0.43 HDFC Ltd. Warrants Finance 0.42 Britannia Industries Ltd. Consumer Non Durables 0.41 Indian Bank Banks 0.40 Heritage Foods Ltd Consumer Non Durables 0.39 Tata Communications Ltd Telecom - Services 0.34 V.S.T Tillers Tractors Ltd Auto 0.34 Apollo Micro Systems Ltd Industrial Capital Goods 0.33 JMC Projects (India) Ltd Construction 0.31 Apollo Tyres Ltd. Auto Ancillaries 0.30 GP Petroleums Limited Petroleum Products 0.29 H G Infra Engineering Ltd. Construction and Engineering 0.29 MRF Limited Auto Ancillaries 0.29 ICICI Securities Ltd Finance and Investments 0.26 Amber Enterprises India Ltd Consumer Durables 0.24 JK Tyre & Industries Ltd. Auto Ancillaries 0.22 GMR Infrastructure Ltd. Construction Project 0.21 The Ramco Cements Ltd Cement 0.21 Hero MotoCorp Ltd. Auto 0.20 OCL India Ltd Cement 0.17 Jammu and Kashmir Bank Ltd. Banks 0.16 Listed/Awaiting Listing on Stock Exchange - Total Preference Shares Listed/Awaiting listing on Stock Exchange 7.5 Vedanta Reedemable Preference Shares Non - Ferrous Metals 1.32 Listed/Awaiting listing on Stock Exchange - Total 1.32 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions LIC Housing Finance Ltd. CRISIL AAA 0.73 Hindalco Industries Ltd. CRISIL AA 0.19 Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 0.03 Corporate Debt/Financial Institutions - Total 0.95 Public Sector Undertakings Allahabad Bank BRICKWORK BWR A Punjab & Sind Bank ICRA A Small Industries Development Bank Of India CARE AAA 6.64 National Bank for Agriculture & Rural Development CRISIL AAA 5.45 Power Grid Corporation of India Ltd. CRISIL AAA 5.02 Vijaya Bank ICRA AA U P Power Corporation Ltd CRISIL A+(SO) 2.93 Syndicate Bank CARE AA U P Power Corporation Ltd FITCH IND AA(SO) 1.50 Bank of India CRISIL A Indian Railway Finance Corporation Ltd. CRISIL AAA 0.08 Public Sector Undertakings - Total Government Dated Securities 7.17% Central Government SOV % Central Government SOV % Central Government SOV % State Government SOV % Central Government SOV % State Government SOV % State Government SOV % State Government SOV 0.41 Government Dated Securities - Total TERM DEPOSITS AXIS Bank Ltd Term Deposits - Total 0.23 Collateral Borrowing & Lending obligation 8.80 Net Current /(Liabilities) 2.27 Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments 5.05 years. Kotak Monthly Income Plan Fund NAV as on March 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Monthly Dividend), ` (Direct Monthly Dividend), ` (Quarterly Dividend), ` (Direct Quarterly Dividend) Small ALLOCATION (%) RATING PROFILE (%) Debentures and Bonds Government Dated Securi es Equi es CBLO & Term Deposits & Rev.Repo Net Current 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. AAA, IND AAA, SOV Equi es A+, A+(SO), BWR A- CBLO & Term Deposits & Rev.Repo AA, IND AA(SO), AA- Net Current Cash combined with courage in a time of crisis is priceless. The existing benchmark "CRISIL MIP Blended " has been renamed as "CRISIL Hybrid Conservative Index" as per communication received from CRISIL. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

19 KOTAK EQUITY SAVINGS FUND An Open Ended Equity Fund Fund Manager: Mr. Deepak Gupta & Mr. Abhishek Bisen* : 75% of Nifty 50 Arbitrage index and 25% in Nifty 50 AAUM: `1, crs AUM: `1, crs Allotment date: October 13, 2014 Folio Count: 14,820 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. 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 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. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 for purchase and for `0.01 for switches Ideal Investments Horizon: 3 years & above Entry Load: Nil. Exit Load: a) For redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil. b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%. c) If units are redeemed or switched out on or after 1 year from the date of allotment: Nil. Regular: 2.01%; Direct: 1.41% Investment Style Style Value Blend Growth Size Maturity Large Mid Small Short Medium Long Volatility Medium Investors understand that their principal will be at moderately high risk 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 (Listed/Awaiting listing on Stock Exchange) Non-Hedged CNX NIFTY-APR Dalmia Bharat Ltd.-APR HDFC Ltd. Finance Indian Oil Corporation Ltd-APR Tata Consultancy Services Ltd. Software 2.32 Reliance Industries Ltd. Petroleum Products 1.23 Hindustan Unilever Ltd. Consumer Non Durables 1.17 Maruti Suzuki India Limited Auto 1.16 Polaris Consulting & Services Ltd Software 1.14 Bajaj Finance Limited Finance 1.00 OCL India Ltd Cement 0.94 HDFC Ltd. Warrants Finance 0.93 Bharti Airtel Ltd. Telecom - Services 0.84 Motherson Sumi Systems Ltd. Auto Ancillaries 0.79 HDFC Bank Ltd. Banks ITC Ltd. Consumer Non Durables 0.72 Tata Steel Limited. Ferrous Metals 0.62 Infosys Ltd. Software 0.60 Larsen And Toubro Ltd. Construction Project 0.55 Titan Company Ltd. Consumer Durables 0.55 Power Grid Corporation Of India Ltd Power 0.50 Britannia Industries Ltd. Consumer Non Durables 0.48 Zee Entertainment Enterprises Ltd Media and Entertainment 0.48 Edelweiss Financial Services Ltd Finance 0.42 Shriram Transport Finance Co Ltd. Finance 0.39 Yes Bank Ltd Banks 0.38 Dr Reddys Laboratories Ltd Pharmaceuticals 0.37 GAIL (India) Ltd. Gas 0.37 Biocon Ltd. Pharmaceuticals 0.35 National Thermal Power Corporation Limited Power 0.35 Petronet LNG Ltd. Gas 0.34 Varun Beverages Ltd Consumer Non Durables 0.34 Granules India Ltd. Pharmaceuticals 0.33 Hindalco Industries Ltd Non - Ferrous Metals 0.33 Indraprastha Gas Ltd. Gas 0.33 Jindal Steel & Power Ltd. Ferrous Metals 0.32 Bharat Financial Inclusion Limited Finance 0.31 Eris Lifesciences Ltd Pharmaceuticals 0.30 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 0.24 Mahindra & Mahindra Ltd. Auto 0.24 Laurus Labs Ltd Pharmaceuticals 0.20 Axis Bank Ltd Banks 0.18 Bharat Earth Movers Ltd. Industrial Capital Goods 0.18 United Spirits Ltd. Consumer Non Durables 0.17 Federal Bank Ltd. Banks 0.16 JSW Steel Ltd. Ferrous Metals 0.16 Sun TV Limited. Media and Entertainment 0.16 The Ramco Cements Ltd Cement 0.16 Grasim Industries Ltd. Cement 0.15 Godfrey Phillips India Ltd. Consumer Non Durables 0.14 Vedanta Ltd. Non - Ferrous Metals 0.14 Prataap Snacks Ltd Consumer Non Durables 0.13 Strides Shasun Ltd. Pharmaceuticals 0.13 Bajaj Finserv Ltd. Finance 0.12 Eicher Motors Ltd Auto 0.12 L&T Finance Holdings Ltd Finance 0.12 AU Small Finance Bank Ltd. Banks 0.11 Colgate Palmolive (India ) Ltd. Consumer Non Durables 0.11 HCL Technologies Ltd. Software 0.11 Cochin Shipyard Ltd Industrial Capital Goods 0.10 Galaxy Surfactants Ltd Chemicals 0.09 ICICI Securities Ltd Finance and Investments 0.09 Apollo Micro Systems Ltd Industrial Capital Goods 0.08 Godrej Agrovet Ltd Consumer Non Durables 0.08 Tata Steel Limited (Partly Paid Shares) Ferrous Metals 0.06 Chennai Super Kings Cricket Ltd. Media and Entertainment 0.01 IndusInd Bank Ltd. Banks Non-Hedged- Total Hedged GMR Infrastructure Ltd. Construction Project Jindal Steel & Power Ltd. Ferrous Metals Indiabulls Housing Finance Ltd. Finance Capital First Ltd Finance Aurobindo Pharma Ltd. Pharmaceuticals Karnataka Bank Ltd Banks Reliance Capital Ltd. Finance HDFC Ltd. Finance PC Jeweller Ltd Consumer Durables DLF Limited Construction Power Finance Corporation Ltd. Finance Union Bank Of India Banks Suzlon Energy Ltd. Industrial Capital Goods IDFC Bank Limited Banks Ujjivan Financial Services Ltd Finance Ashok Leyland Ltd. Auto Granules India Ltd. Pharmaceuticals Equitas Holdings Ltd Finance IDFC Limited Finance Raymond Limited Textile Products * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

20 KOTAK EQUITY SAVINGS FUND An Open Ended Equity Fund % to Net Derivatives Lupin Ltd. Pharmaceuticals Bajaj Finance Limited Finance CESC Ltd. Power Tata Steel Limited. Ferrous Metals Jain Irrigation Systems Ltd. Industrial Products The South Indian Bank Ltd. Banks Bank of India Banks Gujarat State Fertilizers & Chemicals Ltd. Fertilisers Tata Global Beverages Limited Consumer Non Durables Jaiprakash Associates Ltd Cement Torrent Pharmaceuticals Ltd. Pharmaceuticals Godfrey Phillips India Ltd. Consumer Non Durables Bata India Ltd. Consumer Durables Can Fin Homes Ltd. Finance Kaveri Seed Company Ltd. Consumer Non Durables Syndicate Bank Banks Tata Consultancy Services Ltd. Software Federal Bank Ltd. Banks Century Textiles & Industries Ltd. Cement Reliance Naval and Engineering Limited Industrial Capital Goods Sun Pharmaceuticals Industries Ltd. Pharmaceuticals Strides Shasun Ltd. Pharmaceuticals UPL Ltd Pesticides State Bank Of India Banks Adani Power Ltd Power Punjab National Bank Banks National Aluminium Company Ltd Non - Ferrous Metals NCC Limited Construction Project Steel Authority of India Ltd. Ferrous Metals Dewan Housing Finance Corporation Ltd. Finance Bharti Airtel Ltd. Telecom - Services KPIT Technologies LImited Software PTC India Ltd. Power SREI Infrastructure Finance Ltd Finance Tata Chemicals Ltd. Chemicals Housing Development and Infrastructure Limited Construction Larsen And Toubro Ltd. Construction Project Mahanagar Gas Ltd Gas Shriram Transport Finance Co Ltd. Finance Indian Bank Banks Chennai Petroleum Corporation Ltd Petroleum Products Jet Airways (India) Ltd. Transportation Manappuram Finance Ltd Finance Reliance Infrastructure Ltd Power Dr Reddys Laboratories Ltd Pharmaceuticals Titan Company Ltd. Consumer Durables Mahindra & Mahindra Ltd. Auto Wockhardt Ltd. Pharmaceuticals CEAT Ltd. Auto Ancillaries Indraprastha Gas Ltd. Gas Kajaria Ceramics Ltd. Construction SRF Ltd. Textile Products IRB Infrastructure Developers Ltd Construction Reliance Power Ltd Power Tata Communications Ltd Telecom - Services Axis Bank Ltd Banks Bank Of Baroda Banks Dish TV India Ltd. Media and Entertainment IFCI Ltd. Finance TV18 Broadcast Ltd Media and Entertainment CG Power and Industrial Solutions Limited Industrial Capital Goods Hindustan Construction Co.Ltd Construction Project Idea Cellular Ltd. Telecom - Services ITC Ltd. Consumer Non Durables Castrol (India ) Ltd. Petroleum Products Godrej Industries Ltd Consumer Non Durables LIC Housing Finance Ltd. Finance United Spirits Ltd. Consumer Non Durables Yes Bank Ltd Banks Hindustan Unilever Ltd. Consumer Non Durables India Cements Ltd. Cement Industrial Development Bank of India Ltd. Banks Just Dial Limited Software Mahindra & Mahindra Financial Services Ltd. Finance Mangalore Refinery And Petrochemicals Ltd. Petroleum Products Maruti Suzuki India Limited Auto Siemens Ltd. Industrial Capital Goods Tata Motors Ltd - DVR Auto Adani Port and Special Economic Zone Limited Transportation Amara Raja Batteries Ltd. Auto Ancillaries Balrampur Chini Mills Ltd Consumer Non Durables Grasim Industries Ltd. Cement Marico Ltd. Consumer Non Durables Tata Elxsi Ltd. Software Vedanta Ltd. Non - Ferrous Metals Ajanta Pharma Ltd. Pharmaceuticals

21 KOTAK EQUITY SAVINGS FUND An Open Ended Equity Fund % to Net Derivatives Andhra Bank Banks Cipla Ltd. Pharmaceuticals Development Credit Bank Ltd. Banks Havells India Ltd. Consumer Durables Hindustan Zinc Ltd. Non - Ferrous Metals Muthoot Finance Ltd Finance National Buildings Construction Corporation Limited Construction Nestle India Ltd. Consumer Non Durables Oil & Natural Gas Corporation Ltd. Oil Petronet LNG Ltd. Gas Power Grid Corporation Of India Ltd Power Reliance Industries Ltd. Petroleum Products Tata Motors Ltd. Auto Tata Power Co. Ltd. Power Torrent Power Ltd Power Hedged - Total Listed/Awaiting Listing on Stock Exchange - Total Preference Shares Listed/Awaiting listing on Stock Exchange 7.5% Vedanta Reedemable Preference Shares Non - Ferrous Metals 0.81 Listed/Awaiting listing on Stock Exchange - Total 0.81 Mutual Fund Units Kotak Floater Short Term Direct Growth Mutual Fund Units 1.07 Mutual Fund Units - Total 1.07 Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Kotak Mahindra Prime Ltd. CRISIL AAA Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 5.37 AXIS Bank Ltd. CRISIL AA Corporate Debt/Financial Institutions - Total Government Dated Securities 8.53% State Government SOV 0.28 Government Dated Securities - Total 0.28 TERM DEPOSITS AXIS Bank Ltd HDFC Bank Ltd Term Deposits - Total Collateral Borrowing & Lending obligation 1.92 Net Current /(Liabilities) 4.84 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. Kotak Equity Savings Fund NAV as on March 28, 2018: ` (Growth Option), ` (Monthly Dividend Option), ` (Quarterly Dividend Option), ` (Direct Growth Option), ` (Direct Monthly Dividend Option), ` (Direct Quarterly Dividend Option) Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 ( `)# 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) SECTOR ALLOCATION (%) SYSTEMATIC INVESTMENT PLAN (SIP) Systematic Investment Plan (SIP) If you had invested `10,000 every month 1 year 3 years Since Inception 1,20,000 3,60,000 4,20,000 1,23,187 4,06,802 4,83, ,22,739 3,98,271 4,71, ,22,328 4,25,727 5,00, Inception : - October 13, The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI) Debentures and Bonds CBLO & Term Deposits & Rev.Repo Finance Banks Pharmaceuticals Consumer Non Durables Software Ferrous Metals Construction Project Auto Others Those who are unwilling to invest in the future haven't earned one H.W. Lewis 7 19

22 KOTAK INFRASTRUCTURE & ECONOMIC REFORM FUND Fund Manager: Mr. Harish Krishnan* : S&P BSE 100 Allotment date: February 25, 2008 Folio Count: 27,174 AAUM: ` crs AUM: ` crs An Open - Ended Equity Growth The investment objective of the is to generate long-term capital appreciation f r o m a d i v e r s i f i e d p o r t f o l i o o f predominantly (at least 65%) equity and equity-related securities of companies involved in economic development of India as a result of potential investments in infrastructure and unfolding economic reforms.however, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Ratios Portfolio Turnover Beta Sharpe## Standard Deviation Source: ICRA MFI Explorer. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 3 years & above Exit Load: a) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units: 1%; b) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units: NIL; Regular: 2.47%; Direct: 1.06% Investment Style Style 35.76% % Value Blend Growth Size Large Mid Small Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Shree Cement Ltd. Cement 4.04 Larsen And Toubro Ltd. Construction Project 3.66 Indraprastha Gas Ltd. Gas 3.64 Ultratech Cement Ltd. Cement 3.23 GAIL (India) Ltd. Gas 3.17 Solar Industries India Limited Chemicals 3.10 GE Power India Limited Industrial Capital Goods 3.07 National Thermal Power Corporation Limited Power 2.98 Schaeffler India Ltd Industrial Products 2.88 Thermax Ltd. Industrial Capital Goods 2.82 SKF India Ltd Industrial Products 2.74 H G Infra Engineering Ltd. Construction and Engineering 2.49 Bharat Earth Movers Ltd. Industrial Capital Goods 2.48 JK Tyre & Industries Ltd. Auto Ancillaries 2.41 Kirloskar Oil Engines Ltd. Industrial Products 2.36 Container Corporation of India Ltd. Transportation 2.32 Bharti Airtel Ltd. Telecom - Services 2.27 JMC Projects (India) Ltd Construction 1.99 AIA Engineering Limited Industrial Products 1.96 Kajaria Ceramics Ltd. Construction 1.90 Supreme Industries Limited Industrial Products 1.85 Sadbhav Engineering Ltd. Construction Project 1.73 Shriram Transport Finance Co Ltd. Finance 1.72 Tejas Networks Ltd Telecom - Equipment & Accessories 1.70 Hindustan Oil Exploration Company Ltd. Oil 1.67 Amara Raja Batteries Ltd. Auto Ancillaries 1.64 The Ramco Cements Ltd Cement 1.62 Inter Globe Aviation Ltd Transportation 1.60 Monthly SIP of ` Total amount invested ( `) Total Value as on March 28, 2018( `) Returns (%) S&P BSE 100 (TRI) ( `)# S&P BSE 100 (TRI) Returns (%) Nifty 50 (TRI) ( `)^ Nifty 50 (TRI) Returns (%) SYSTEMATIC INVESTMENT PLAN (SIP) Cummins India Ltd. Industrial Products 1.59 Gujarat State Petronet Ltd. Gas 1.57 Mahanagar Gas Ltd Gas 1.49 Gujarat Gas Company Ltd Gas 1.47 APL Apollo Tubes Limited Ferrous Metals 1.44 Petronet LNG Ltd. Gas 1.43 AU Small Finance Bank Ltd. Banks 1.41 Bharat Electronics Ltd Industrial Capital Goods 1.38 OCL India Ltd Cement 1.34 Simplex Infrastructures Ltd Construction 1.29 PNC INFRATECH LIMITED Construction 1.18 Jindal Steel & Power Ltd. Ferrous Metals 1.16 Brigade Enterprises Limited Construction 1.11 Kalpataru Power Transmission Ltd. Power 1.10 Huhtamaki PPL Ltd Industrial Products 1.00 Tata Power Co. Ltd. Power 0.98 Linde India Ltd. Chemicals 0.97 GMR Infrastructure Ltd. Construction Project 0.87 Techno Electric & Engineering Co Ltd. Construction Project 0.86 Ashok Leyland Ltd. Auto 0.75 Capacite Infraprojects Limited Construction 0.63 WPIL Ltd Industrial Products 0.63 Indian Energy Exchange Ltd. Finance 0.58 GP Petroleums Limited Petroleum Products 0.46 Ratnamani Metals & Tubes Ltd. Ferrous Metals 0.13 Listed/Awaiting Listing on Stock Exchange - Total Collateral Borrowing & Lending obligation 4.14 Systematic Investment Plan (SIP) If you had invested `10,000 every month Inception : - February 25, The returns are calculated by XIRR approach assuming investment of `10,000/- on the 1st working day of every month. XIRR helps in calculating return on investments given an initial and final value and a series of cash inflows and outflows and taking the time of investment into consideration. Since inception returns are assumed to be starting from the beginning of the subsequent month from the date of inception. # ; ^ Additional TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Infrastructure & Economic Reform Fund NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) SECTOR ALLOCATION (%) year 3 years 5 years 7 years 10 years Since Inception 1,20,000 3,60,000 6,00,000 8,40,000 12,00,000 12,20,000 1,19,679 4,42,760 9,67,087 15,61,541 26,40,117 26,83, ,22,253 4,31,535 8,24,223 13,33,465 23,01,962 23,47, ,22,328 4,25,727 8,02,644 12,89,007 22,08,248 22,53, Industrial Manufacturing Energy Construction Cement & Cement Products Automobile Chemicals Telecom Services Cash & Cash Equivalent Financial Services 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. My problem lies with reconciling my gross habits with my net income Erroll Flynn * For Fund Manager experience, please refer page ## Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unusually high at 9.39%, we are taking the average of the entire March month). **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

23 KOTAK INDIA GROWTH FUND SERIES 1 3 years Close- Ended Equity Fund Manager: Mr. Harish Krishnan* : Nifty 200 Allotment date: May 06, 2015 Folio Count: 1,604 AAUM: ` crs AUM: ` crs 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. 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 Source: ICRA MFI Explorer. The scheme is a close ended scheme. The units of the scheme can be traded on the stock exchange. Exit Load: Nil. (applicable for all plans) Regular: 2.28%; Direct: 1.78% % Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks 9.30 Reliance Industries Ltd. Petroleum Products 7.52 IndusInd Bank Ltd. Banks 6.47 ITC Ltd. Consumer Non Durables 5.36 Larsen And Toubro Ltd. Construction Project 5.35 ICICI Bank Ltd. Banks 5.34 Maruti Suzuki India Limited Auto 4.57 Motherson Sumi Systems Ltd. Auto Ancillaries 4.48 Shree Cement Ltd. Cement 4.38 Britannia Industries Ltd. Consumer Non Durables 3.58 GAIL (India) Ltd. Gas 3.47 Zee Entertainment Enterprises Ltd Media and Entertainment 3.45 Mahindra & Mahindra Ltd. Auto 3.10 Punjab National Bank Banks 3.08 Laurus Labs Ltd Pharmaceuticals 3.02 SECTOR ALLOCATION (%) Cadila Healthcare Ltd. Pharmaceuticals 2.94 ICICI Lombard General Insurance Company Ltd Finance 2.86 Sun TV Limited. Media and Entertainment 2.85 Kajaria Ceramics Ltd. Construction 2.75 Bharat Petroleum Corporation Ltd. Petroleum Products 2.31 Bharat Earth Movers Ltd. Industrial Capital Goods 2.25 OCL India Ltd Cement 1.89 Entertainment Network (India) Ltd. Media and Entertainment 1.78 Bandhan Bank Limited Banks 1.50 Bajaj Finance Limited Finance 0.56 Listed/Awaiting Listing on Stock Exchange - Total Collateral Borrowing & Lending obligation 2.40 Net Current /(Liabilities) 3.44 Kotak India Growth Fund Series 1 NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) Investment Style Style Value Blend Growth Size Large Mid Small Financial Services Energy Automobile Consumer Goods Construction Media & Entertainment Pharma Cash & Cash Equivalent Cement & Cement Products Industrial Manufacturing It's never too early to encourage long term savings Ron Lewis 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 across market capitalisation and sectors * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. * 7For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

24 KOTAK INDIA GROWTH FUND SERIES 4 Multicap Fund - A 36 months close ended equity scheme investing across large cap, midcap and small cap stocks Fund Manager: Mr. Harsha Upadhyaya and Mr. Devender Singhal* : Nifty 200 Allotment date: Feb 20, 2018 AAUM: ` crs AUM: ` crs Folio Count: 15,137 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 Source: ICRA MFI Explorer. The scheme is a close ended scheme. The units of the scheme can be traded on the stock exchange. Exit Load: Nil. (applicable for all plans) Regular: 2.30%; Direct: 1.80% 00.0% Equity & Equity related (Listed/Awaiting listing on Stock Exchange) ITC Ltd. Consumer Non Durables 7.52 HDFC Bank Ltd. Banks 4.44 Tata Motors Ltd. Auto 3.85 Mahindra & Mahindra Ltd. Auto 3.83 Bata India Ltd. Consumer Durables 3.44 CESC Ltd. Power 3.41 Sun TV Limited. Media and Entertainment 3.39 IndusInd Bank Ltd. Banks 3.38 Britannia Industries Ltd. Consumer Non Durables 3.04 GlaxoSmithkline Consumer Healthcare Ltd Consumer Non Durables 2.87 City Union Bank Ltd. Banks 2.84 Jubilant Foodworks Limited Consumer Non Durables 2.74 Bharat Petroleum Corporation Ltd. Petroleum Products 2.51 Bank Of Baroda Banks 2.34 Eris Lifesciences Ltd Pharmaceuticals 2.27 RBL Bank Ltd Banks 2.26 Prataap Snacks Ltd Consumer Non Durables 2.14 Jindal Steel & Power Ltd. Ferrous Metals 2.06 JMC Projects (India) Ltd Construction 2.04 Eicher Motors Ltd Auto 2.00 Apollo Tyres Ltd. Auto Ancillaries 1.96 Federal Bank Ltd. Banks 1.89 Reliance Industries Ltd. Petroleum Products 1.79 SECTOR ALLOCATION (%) Motherson Sumi Systems Ltd. Auto Ancillaries 1.76 The Ramco Cements Ltd Cement 1.76 GMR Infrastructure Ltd. Construction Project 1.74 HDFC Ltd. Warrants Finance 1.73 Dalmia Bharat Ltd. Cement 1.69 Bharat Forge Ltd. Industrial Products 1.65 Gujarat State Petronet Ltd. Gas 1.61 Indian Bank Banks 1.59 Jammu and Kashmir Bank Ltd. Banks 1.56 Abbott India Ltd. Pharmaceuticals 1.54 Century Textiles & Industries Ltd. Cement 1.34 Tata Communications Ltd Telecom - Services 1.31 Saregama India Ltd. Media and Entertainment 1.08 Larsen And Toubro Ltd. Construction Project 0.93 Inter Globe Aviation Ltd Transportation 0.91 Hindalco Industries Ltd Non - Ferrous Metals 0.50 ICICI Securities Ltd Finance and Investments 0.47 Tata Consultancy Services Ltd. Software 0.47 Infosys Ltd. Software 0.45 Listed/Awaiting Listing on Stock Exchange - Total Option CNX NIFTY Put Option - December Option - Total 7.10 Collateral Borrowing & Lending obligation 0.71 Net Current /(Liabilities) 0.09 Kotak India Growth Fund Series 4 NAV as on March 28, 2018: `9.932 (Dividend Option), `9.928 (Direct Dividend Option), `9.931 (Growth Option), `9.937 (Direct Growth Option) Investment Style Style Value Blend Growth Size Large Mid Small Financial Services Consumer Goods Automobile Energy Others Cement & Cement Products Construction Media & Entertainment Pharma Metals Risk comes from not knowing what you are doing 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. * 7For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For last three dividends, please refer page no For scheme performance, please refer page no

25 KOTAK LIQUID An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* : CRISIL Liquid Fund Allotment date: November 4, 2003 AAUM: AUM: `13, crs `10, crs To provide reasonable returns and high level of liquidity by investing in debt and money market instruments of different maturities so as to spread risk across different kinds of issuers in the debt markets. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Daily, Weekly (Every Monday) (applicable for all plans) Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 1-15 days Exit Load: Nil. (applicable for all plans) Regular: 0.20%; Direct: 0.15% 0.17% 0.16yrs 6.78% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions HDFC Ltd. CRISIL AAA 2.68 ICICI Home Finance Company Limited ICRA AAA 0.57 Indostar Capital Finance Limited CARE AA Corporate Debt/Financial Institutions - Total 3.72 Public Sector Undertakings National Bank for Agriculture & Rural Development CRISIL AAA 0.98 National Housing Bank CRISIL AAA 0.08 Public Sector Undertakings - Total 1.06 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Reliance Industries Ltd. CRISIL A Aditya Birla Finance Ltd. ICRA A Reliance Jio Infocomm Ltd. CRISIL A Indus Towers Limited CRISIL A IDFC Bank Limited ICRA A India Infoline Finance Limited CRISIL A Vedanta Ltd. CRISIL A Aditya Birla Housing Finance ICRA A IDFC Bank Limited CRISIL A Reliance Retail Limited CRISIL A Piramal Enterprises Ltd. ICRA A Manappuram Finance Ltd. CRISIL A Karnataka Bank Ltd CRISIL A AXIS Bank Ltd. CRISIL A IL & FS Financial Services Ltd. ICRA A ALLOCATION (%) Indiabulls Housing Finance Ltd. CRISIL A Shriram City Union Finance Ltd. ICRA A Ford Credit India Pvt. Ltd. FITCH IND A TV18 Broadcast Ltd ICRA A Federal Bank Ltd. CRISIL A JM Financial Products Limited CRISIL A Standard Chartered Investment & Loan India Ltd. CRISIL A HDFC Ltd. CRISIL A ICICI Bank Ltd. CRISIL A Corporate Debt/Financial Institutions - Total Public Sector Undertakings Export-Import Bank of India CRISIL A Union Bank of India ICRA A National Bank for Agriculture & Rural Development ICRA A Small Industries Development Bank Of India FITCH IND A Power Finance Corporation Ltd. CRISIL A National Bank for Agriculture & Rural Development CRISIL A Indian Bank CRISIL A National Thermal Power Corporation Ltd. ICRA A Punjab & Sind Bank ICRA A Public Sector Undertakings - Total Reverse Repo 3.65 Collateral Borrowing & Lending obligation 0.26 Net Current /(Liabilities) 0.34 Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.17 years Kotak Liquid Fund NAV as on March 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Weekly Dividend), ` (Direct Weekly Dividend), ` (Daily Dividend), ` (Direct Daily Dividend) Investment Style: Maturity Short Medium Long Volatiliy Commercial Paper (CP)/Cer ficate of Deposits (CD) CBLO & Term Deposits & Rev.Repo Debentures and Bonds Net Current Medium RATING PROFILE (%) A1+, AAA, IND A1+ CBLO & Term Deposits & Rev.Repo AA- Net Current Nobody ever lost money taking a pro t Bernard Baruch 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. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no

26 KOTAK FLOATER SHORT TERM An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* : CRISIL Liquid Fund Allotment date: July 14, 2003 AAUM: AUM: `14, crs `10, crs To reduce the interest rate risk associated with investments in fixed rate instruments by investing predominantly in floating rate securities, money market instruments and using appropriate derivatives. However, there is no assurance that the objective of the scheme will be realized. 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 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: ` U n d e r 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 Exit Load: Nil (applicable for all plans) Regular: 0.20%; Direct: 0.15% Investment Style: Maturity Short Medium Long Volatiliy Medium 0.17% 0.16 yrs 7.00% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Altico Capital India Pvt Ltd FITCH IND AA Nabha Power Ltd. ICRA AAA 0.08 HDFC Ltd. CRISIL AAA 0.06 Aasan Corporate Solutions Private Limited ICRA AA-(SO) 0.05 Corporate Debt/Financial Institutions - Total 0.51 Public Sector Undertakings National Housing Bank CRISIL AAA 0.07 National Bank for Agriculture & Rural Development CRISIL AAA 0.05 Steel Authority of India Ltd. FITCH IND AA Public Sector Undertakings - Total 0.13 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions HDFC Ltd. ICRA A Reliance Jio Infocomm Ltd. CRISIL A Muthoot Finance Ltd. CRISIL A Reliance Industries Ltd. CRISIL A Piramal Enterprises Ltd. CRISIL A Suraksha Realty Ltd CARE A1+(SO) 4.68 Tata Capital Financial Services Limited CRISIL A Indus Towers Limited CRISIL A Suraksha Asset Reconstruction Pvt Ltd CARE A1+(SO) 4.31 Karnataka Bank Ltd CRISIL A Tata Power Company Ltd. ICRA A L & T Infrastructure Finance Company Ltd. ICRA A Tata Motors Finance Ltd ICRA A Piramal Enterprises Ltd. ICRA A AXIS Finance Ltd. CRISIL A Tata Capital Housing Finance Ltd. CRISIL A IDFC Bank Limited ICRA A IIFL Wealth Finance Ltd. CRISIL A Reliance Infrastructure Ltd. FITCH IND A1+(SO) 1.35 IL & FS Financial Services Ltd. ICRA A ICICI Bank Ltd. ICRA A Azim premji Trust ICRA A Sun Pharma Laboratories Limited CRISIL A AU Small Finance Bank Ltd. CRISIL A Essel Mining & Industries Ltd. ICRA A Vedanta Ltd. CRISIL A AXIS Bank Ltd. ICRA A Shriram City Union Finance Ltd. ICRA A Reliance Infrastructure Ltd. BRICKWORK BWR A1+ (SO) 0.14 IDFC Bank Limited CRISIL A AXIS Bank Ltd. CRISIL A Indiabulls Housing Finance Ltd. CRISIL A Corporate Debt/Financial Institutions - Total Public Sector Undertakings National Bank for Agriculture & Rural Development ICRA A Union Bank of India ICRA A Indian Bank CRISIL A Punjab & Sind Bank CRISIL A Small Industries Development Bank Of India CRISIL A Power Finance Corporation Ltd. CRISIL A Public Sector Undertakings - Total 7.05 Reverse Repo 0.55 Collateral Borrowing & Lending obligation 0.35 Net Current /(Liabilities) Note : Aggregate value of investments by other schemes of Kotak Mahindra Mutual Fund as on 31 March 2018 is Rs.21, lacs Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.16 years. Kotak Floater Short Term Fund NAV as on March 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Weekly Dividend), ` (Direct Weekly Dividend), ` (Monthly Dividend), ` (Direct Monthly Dividend), ` (Daily Dividend), ` (Direct Daily Dividend) ALLOCATION (%) Commercial Paper (CP)/Cer ficate of Deposits (CD) CBLO & Term Deposits & Rev.Repo Debentures and Bonds Net Current RATING PROFILE (%) 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 floating rate securities, 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, BWR A1+ (SO), IND A1+(SO) AA-(SO), IND AA- CBLO & Term Deposits & Rev.Repo Net Current I nally know what distinguishes man from the other beasts: nancial worries Jules Renard * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no

27 KOTAK TREASURY ADVANTAGE FUND An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* : CRISIL Liquid Fund Allotment date: August 13, 2004 AAUM: AUM: `5, crs `5, crs 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 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: (i) Dividend Reinvestment & Growth- `5000 & above (ii) Dividend Payout (Weekly) - `1,00,00,000 & above Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 1-3 months Exit Load: Nil (applicable for all plans) Regular:0.60%; Direct: 0.25% Investment Style: Maturity Short Medium Long Volatiliy Medium 0.43% 0.56 yrs 7.49% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Reliance Jio Infocomm Ltd.(^) CRISIL AAA Torrent Pharmaceuticals Ltd. FITCH IND A Vedanta Ltd. CRISIL AA 6.96 Tata Motors Finance Ltd CARE AA Shriram Transport Finance Co Ltd. FITCH IND AA Indiabulls Housing Finance Ltd.(^) ICRA AAA 4.05 ICICI Home Finance Company Limited(^) ICRA AAA 3.27 Muthoot Finance Ltd. CRISIL AA 2.70 LIC Housing Finance Ltd. CRISIL AAA 2.29 Indiabulls Housing Finance Ltd. CARE AAA 1.73 Kotak Mahindra Investments Ltd. CRISIL AAA 1.73 Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) ICRA AAA 1.49 Mahindra & Mahindra Financial Services Ltd.(^) FITCH IND AAA 1.21 HDFC Ltd.(^) CRISIL AAA 0.86 AXIS Bank Ltd. CRISIL AA Dewan Housing Finance Corporation Ltd. CARE AAA 0.13 Cholamandalam Investment and Finance Company Ltd. ICRA AA 0.09 Bajaj Finance Ltd. ICRA AAA 0.01 Corporate Debt/Financial Institutions - Total Public Sector Undertakings Power Finance Corporation Ltd. CRISIL AAA 6.24 National Bank for Agriculture & Rural Development FITCH IND AAA 3.87 PNB Housing Finance Ltd. CARE AAA 1.73 Bank Of Baroda(^) CARE AA 1.13 Andhra Bank CRISIL AA Union Bank of India CRISIL AA Export-Import Bank of India CRISIL AAA 0.53 Bank Of Baroda CARE AA Rural Electrification Corporation Ltd. CRISIL AAA 0.22 Indian Railway Finance Corporation Ltd. CRISIL AAA 0.11 National Bank for Agriculture & Rural Development CRISIL AAA 0.11 Power Grid Corporation of India Ltd. CRISIL AAA 0.09 Public Sector Undertakings - Total Government Dated Securities 6.68% Central Government SOV % State Government SOV % State Government SOV 0.17 Government Dated Securities - Total 1.93 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions L & T Infrastructure Finance Company Ltd. CRISIL A HDFC Ltd. ICRA A IndusInd Bank Ltd. CRISIL A Reliance Infrastructure Ltd. ( Backed by SBLC of ICICI Bank) BRICKWORK BWR A1+ (SO) 1.83 Aditya Birla Fashion and Retail Ltd. CRISIL A HDFC Ltd. CRISIL A IDFC Bank Limited CRISIL A Vedanta Ltd. CRISIL A Corporate Debt/Financial Institutions - Total Public Sector Undertakings National Bank for Agriculture & Rural Development ICRA A Public Sector Undertakings - Total 0.42 TERM DEPOSITS HDFC Bank Ltd Term Deposits - Total 0.12 Collateral Borrowing & Lending obligation 1.01 Net Current /(Liabilities) 2.65 ^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Mar 2018 is 12.06% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.67 years. K o t a k Tr e a s u r y A d v a n t a g e F u n d N AV a s o n M a r c h 2 8, : ` ( D a i l y D i v i d e n d O p t i o n ), ` (Daily Dividend - Direct), ` (Growth Option), ` (Monthly Dividend Option), ` (Weekly Dividend Option), ` (Monthly Dividend - Direct), ` (Weekly Dividend - Direct), ` (Growth - Direct Option) ALLOCATION (%) Debentures and Bonds Commercial Paper (CP)/Cer ficate of Deposits (CD) Net Current Government Dated Securi es CBLO & Term Deposits & Rev.Repo RATING PROFILE (%) Investors understand that their principal will be at moderately 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+, AAA, BWR A1+ (SO), IND A1+, IND AAA, SOV Net Current AA+, IND AA+, AA, AA- CBLO & Term Deposits & Rev.Repo * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

28 KOTAK BANKING AND PSU DEBT FUND An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* AAUM: `1, crs : CRISIL Short Term Bond AUM: `1, crs Fund Index Allotment date: December 29,1998 To generate income by predominantly investing in debt & money market securities issued by Banks & PSUs and Reverse repos in such securities, sovereign securities issued by the Central Government and State Governments, and / or any security unconditionally guaranteed by the Govt. of India. However, there is no assurance that the objective of the scheme will be realized. 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 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: Dividend Payout, Dividend Re-investment & Growth `5000 & above. Additional Investment: `1000 & in multiples of `1. Ideal Investment Horizon: 1-3 months Exit Load: Nil (applicable for all plans) Regular:0.50%; Direct: 0.15% 1.60% 2.32 yrs 7.99% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions AXIS Bank Ltd. CRISIL AA Corporate Debt/Financial Institutions - Total Public Sector Undertakings U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) Power Grid Corporation of India Ltd. CRISIL AAA 9.93 Rural Electrification Corporation Ltd. CRISIL AAA 8.15 Small Industries Development Bank Of India CARE AAA 6.85 State Bank Of India. CRISIL AAA 6.05 Punjab National Bank BRICKWORK BWR AA 4.60 Power Finance Corporation Ltd. CRISIL AAA 3.98 Canara Bank CRISIL AAA 2.81 Andhra Bank CRISIL AA Union Bank of India FITCH IND AA 2.03 Power Finance Corporation Ltd. ICRA AAA 1.90 Punjab National Bank CARE AA Powergrid Vizag Transminssion Ltd. CRISIL AAA(SO) 1.23 Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments 2.87 years. Kotak Banking And PSU Debt Fund NAV as on March 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Monthly Dividend), ` (Direct Monthly Dividend) ALLOCATION (%) Steel Authority of India Ltd. FITCH IND AA 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 0.47 Government Dated Securities - Total Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Public Sector Undertakings National Bank for Agriculture & Rural Development ICRA A National Bank for Agriculture & Rural Development CRISIL A Public Sector Undertakings - Total 9.59 Collateral Borrowing & Lending obligation 0.93 Net Current /(Liabilities) Debentures and Bonds Government Dated Securi es Commercial Paper (CP)/Cer ficate of Deposits (CD) Net Current CBLO & Term Deposits & Rev.Repo Investment Style: Maturity Short Medium Long Volatiliy Medium RATING PROFILE (%) A1+, AAA, AAA(SO), SOV AA+, BWR AA, IND AA, IND AA(SO), AA-, IND AA- Net Current CBLO & Term Deposits & Rev.Repo Every day I get up and look through the Forbes list of the richest people in America. If I'm not there, I go to work Robert Orben Investors understand that their principal will be at moderately 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 & government securities. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

29 KOTAK DURATION FUND An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* : CRISIL Liquid Fund Allotment date: March 6, 2008 AAUM: AUM: `5, crs `5, crs The primary objective of the is to generate income through investment primarily in low duration debt & money market securities. However, there is no assurance that the objective of the scheme will be realized. 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 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 for purchase and for `0.01 for switches. Ideal Investment Horizon: 1-3 months Entry Load: Nil. Exit Load: Nil. Any exit load charged (net off Service Tax, if any) shall be credited back to the ; Regular:1.00%; Direct: 0.25% Investment Style: Maturity Short Medium Long Volatiliy Medium 0.65% 1.03 yrs 8.29% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Vedanta Ltd. CRISIL AA 8.21 Dewan Housing Finance Corporation Ltd.(^) CARE AAA 6.34 S D Corporation Private Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) (^) CARE AA+(SO) 6.16 Nirma Ltd.(^) CRISIL AA 5.97 Karelides Traders Private Ltd. ( backed by unconditional and irrevocable undertaking by a wholly owned subsidiary of Piramal Enterprises Ltd ) ICRA AA-(SO) 5 Manappuram Finance Ltd. ICRA AA Reliance Jio Infocomm Ltd. CRISIL AAA 4.84 Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 3.96 Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) ICRA AA 3.89 HDFC Ltd. CRISIL AAA 3.85 Varun Beverages Limited CRISIL AA LIC Housing Finance Ltd.(^) CRISIL AAA 2.80 Nuvoco Vistas Corporation Ltd. ( 100 subsidiary of Nirma Ltd.) CRISIL AA 2.23 Aditya Birla Fashion and Retail Ltd. CRISIL AA 2.09 Indiabulls Housing Finance Ltd. CARE AAA 1.56 Reliance Utilities And Power Pvt. Ltd. ( Mukesh Ambani Group) (^) CRISIL AAA 1.45 Sahyadri Agencies Ltd ( Secured by Equity shares of Jyothy Laboratories Ltd. ) BRICKWORK BWR A(SO) 1.45 Bharti Telecom Ltd. CRISIL AA Jyothy Fbricare Services Limited ( Guarrented By Jyothi Laboratories Ltd ) CARE AA(SO) 1.18 Intime Properties Ltd. ( Commercial Mortgage-Backed Securities ) FITCH IND AAA 1.09 HPCL Mittal Energy Ltd. ICRA AA 0.89 Indiabulls Housing Finance Ltd. ICRA AAA 0.87 Piramal Finance Limited ICRA AA 0.80 India Infoline Housing Finance Ltd. ICRA AA 0.77 ECL Finance Limited ICRA AA 0.59 Muthoot Fincorp Ltd. CRISIL A Edelweiss Housing Finance Limited ICRA AA 0.58 Dalmia Cement (Bharat) Ltd ICRA AA 0.47 Hinduja Leyland Finance Ltd. CARE AA Muthoot Finance Ltd. CRISIL AA 0.31 Aasan Corporate Solutions Private Limited ( Guaranteed by a Piramal Group Company ) ICRA AA-(SO) 0.29 Shriram Transport Finance Co Ltd. CRISIL AA East-North Interconnection Company Limited ( Operational power transmission project ) CRISIL AAA(SO) 0.10 Corporate Debt/Financial Institutions - Total Public Sector Undertakings U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 7.52 Bank Of Baroda(^) CARE AA 6.97 Andhra Bank(^) CRISIL AA PNB Housing Finance Ltd.(^) CARE AAA 1.24 Bank Of Baroda CARE AA Union Bank of India CARE AA United Bank Of India CRISIL AA Union Bank of India FITCH IND AA 0.29 Allahabad Bank BRICKWORK BWR A Konkan Railway Corporation Ltd. ICRA AAA 0.20 Punjab National Bank CARE AA 0.10 Power Finance Corporation Ltd. CRISIL AAA 0.06 Public Sector Undertakings - Total Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Reliance Infrastructure Ltd. ( Backed by SBLC of ICICI Bank) FITCH IND A1+(SO) 1.13 Reliance Infrastructure Ltd. ( Backed by SBLC of ICICI Bank) BRICKWORK BWR A1+ (SO) 0.85 L & T Finance Ltd. ICRA A Muthoot Capital Services Ltd. CRISIL A Indiabulls Housing Finance Ltd. CRISIL A Reliance Industries Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 4.09 Collateral Borrowing & Lending obligation 1.52 Net Current /(Liabilities) Notes: ^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Mar 2018 is 9.66% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 1.22 years Kotak Duration Fund NAV as on March 28, 2018: ` (Regular Plan-Growth Option), ` (Regular Plan-Weekly Dividend), ` (Regular Plan-Monthly Dividend), ` (Direct Plan- Growth Option), ` (Direct Plan- Weekly Dividend), ` (Direct Plan- Monthly Dividend) ALLOCATION (%) Debentures and Bonds CBLO & Term Deposits & Rev.Repo Commercial Paper (CP)/Cer ficate of Deposits (CD) Net Current 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 focusing on low duration securities * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. RATING PROFILE (%) A1, AA+, AA+(SO), AA, AA(SO), IND AA, IND AA(SO), AA-, AA-(SO) A1+, AAA, AAA(SO), BWR A1+ (SO), IND A1+(SO), IND AAA BWR A(SO), A-, BWR A- CBLO & Term Deposits & Rev.Repo Net Current * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

30 KOTAK BOND SHORT TERM An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* : Crisil Short - Term Bond Fund Allotment date: May 2, 2002 AAUM: `9, crs AUM: `8,934.8 crs The investment objective of the is to provide reasonable returns and high level of liquidity by investing in debt instruments s u c h a s b o n d s, d e b e n t u r e s a n d Government securities; and money market i n s t r u m e n t s s u c h a s t r e a s u r y bills,commercial papers, certificates of deposit, including repos in permitted securities of different maturities, so as to spread the risk across different kinds of issuers in the debt markets. The may invest in the call money/termmoney market in terms of RBI guidelines in this respect. 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. 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. 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 Monthly (12th of every Month), Half Yearly (20th of Mar/Sept) and normal (as decided by Trustees) Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: (i) Dividend Reinvestment & Growth - `5000 & above (ii) Dividend Payout (Monthly Dividend) - `50,000 & above Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 6 months & above Exit Load: Nil. Regular:1.10%; Direct: 0.25% Investment Style: Maturity Short Medium Long Volatiliy 1.10% 1.37 yrs 7.71% Medium Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Mahindra & Mahindra Financial Services Ltd. FITCH IND AAA 8.74 HDFC Ltd. CRISIL AAA 7.70 Nabha Power Ltd. ICRA AAA 7.58 Reliance Jio Infocomm Ltd. CRISIL AAA 5.92 LIC Housing Finance Ltd. CRISIL AAA 5.46 Kotak Mahindra Prime Ltd. CRISIL AAA 4.12 Indiabulls Housing Finance Ltd. CARE AAA 3.33 Tata Sons Ltd. CRISIL AAA 2.76 Gruh Finance Ltd. CRISIL AAA 2.66 Bajaj Finance Ltd. CRISIL AAA 1.91 Bajaj Finance Ltd. FITCH IND AAA 1.74 Bhopal Dhule Transmission Company Ltd. CRISIL AAA 1.46 Fullerton India Credit Co. Ltd. CARE AAA 1.12 HDB Financial Services Ltd. CRISIL AAA 0.84 BMW India Financial Services Private Limited CRISIL AAA 0.56 Kotak Mahindra Investments Ltd. CRISIL AAA 0.56 Indiabulls Housing Finance Ltd. ICRA AAA 0.47 IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.35 Dewan Housing Finance Corporation Ltd. CARE AAA 0.17 East-North Interconnection Company Limited CRISIL AAA(SO) 0.06 Corporate Debt/Financial Institutions - Total Public Sector Undertakings ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 6.53 Power Finance Corporation Ltd. CRISIL AAA 5.93 Rural Electrification Corporation Ltd. CRISIL AAA 4.59 National Bank for Agriculture & Rural Development CRISIL AAA 3.23 PNB Housing Finance Ltd. CARE AAA 1.90 Export-Import Bank of India CRISIL AAA 1.40 Small Industries Development Bank Of India CARE AAA 1.00 Indian Railway Finance Corporation Ltd. CRISIL AAA 0.14 Public Sector Undertakings - Total Government Dated Securities 8.21% State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % Central Government SOV % Central Government SOV 0.05 Government Dated Securities - Total 9.22 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions IndusInd Bank Ltd. CRISIL A Reliance Industries Ltd. CRISIL A Reliance Jio Infocomm Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 0.94 Public Sector Undertakings Vijaya Bank CRISIL A Andhra Bank CRISIL A National Bank for Agriculture & Rural Development ICRA A Public Sector Undertakings - Total 3.42 Collateral Borrowing & Lending obligation 0.57 Net Current /(Liabilities) 3.62 Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 1.59 years. Kotak Bond Short Term Fund NAV as on March 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Monthly Dividend), ` (Direct Monthly Dividend), ` (Half Yearly Dividend), ` (Direct Half Yearly Dividend) ALLOCATION (%) RATING PROFILE (%) Debentures and Bonds Government Dated Securi es Commercial Paper (CP)/Cer ficate of Deposits (CD) Net Current CBLO & Term Deposits & Rev.Repo A1+, AAA, AAA(SO), IND AAA, SOV Net Current CBLO & Term Deposits & Rev.Repo Investors understand that their principal will be at moderately low risk This product is suitable for investors who are seeking*: Regular income over short term Income by focusing on low duration securities * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. The economy depends about as much on economists as the weather does on weather forecasters Jean-Paul Kauffmann * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

31 KOTAK FLEXI DEBT An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* : CRISIL Composite Bond Fund Allotment date: May 26, 2008 AAUM: AUM: ` crs ` crs To maximize returns through an active management of a portfolio of debt and money market securities. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A)Regular Plan B)Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Monthly Dividend Payout and Reinvestment (12th of every Month) (w.e.f June 1, 2017), Q u a r t e r l y D i v i d e n d P a y o u t a n d Reinvestment (20th of March, June, September and December of every year) (applicable for all plans) Ratios Standard Deviation Modified Duration Portfolio Yield 1.87% 2.78 yrs 7.90% Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 6 months & above Exit Load: Nil Regular:0.90%; Direct:0.35% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Reliance Ports And Terminals Ltd. CRISIL AAA 6.70 Bhopal Dhule Transmission Company Ltd. CRISIL AAA 3.40 Mahindra & Mahindra Financial Services Ltd. CARE AAA 3.22 HDFC Ltd. CRISIL AAA 2.98 Indiabulls Housing Finance Ltd. CARE AAA 2.23 Reliance Jio Infocomm Ltd. CRISIL AAA 2.22 Bajaj Finance Ltd. CRISIL AAA 0.77 SP Jammu Udhampur way Ltd. ICRA AAA 0.17 Corporate Debt/Financial Institutions - Total Public Sector Undertakings Bank Of Baroda CRISIL AA U P Power Corporation Ltd FITCH IND AA(SO) 3.52 Bank Of Baroda CARE AA 2.22 PNB Housing Finance Ltd. CARE AAA 2.18 Union Bank of India FITCH IND AA 1.98 Export-Import Bank of India CRISIL AAA 0.11 Power Finance Corporation Ltd. CRISIL AAA 0.06 Rural Electrification Corporation Ltd. CRISIL AAA 0.05 Public Sector Undertakings - Total Government Dated Securities 8.21% State Government SOV % State Government SOV % State Government SOV % Central Government SOV % State Government SOV % State Government SOV % State Government SOV % Central Government SOV % State Government SOV % State Government SOV 0.58 Government Dated Securities - Total Futures 7.17% GS 08/01/2028-APR Futures (Market value represents Notional Value) - Total Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions HDFC Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 6.26 Public Sector Undertakings Punjab & Sind Bank CRISIL A Public Sector Undertakings - Total 2.73 Collateral Borrowing & Lending obligation 1.91 Net Current /(Liabilities) 2.38 Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 3.49 years Kotak Flexi Debt Fund NAV as on March 28, 2018: ` ( G r o w t h O p t i o n ), ` ( D i r e c t G r o w t h O p t i o n ), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Regular Monthly Dividend), ` (Direct Monthly Dividend) ALLOCATION (%) Investment Style: Maturity Short Medium Long Volatiliy Medium Government Dated Securi es Debentures and Bonds Commercial Paper (CP)/Cer ficate of Deposits (CD) Net Current CBLO & Term Deposits & Rev.Repo Deriva ves RATING PROFILE (%) A1+, AAA, SOV AA+, AA, IND AA, IND AA(SO) Net Current CBLO & Term Deposits & Rev.Repo Deriva ves 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. * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. It's not your salary that makes you rich, it's your spending habits Charles A Jaffe Former Chess Grand Master * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

32 KOTAK INCOME OPPORTUNITIES FUND An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* : CRISIL Short Term Bond Fund Allotment date: May 11, 2010 AAUM: AUM: `5, crs `5, crs The investment objective of the scheme is to generate income by investing in debt /and money market securities across the yield curve and credit spectrum. The scheme would also seek to maintain reasonable liquidity within the fund. 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 Weekly (Every Monday), Monthly (12th of every Month), Quarterly (20th of Mar, Jun, Sep and Dec of every Year), Annual (12th of March). Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 1 year & above Exit Load: a) For redemption / switch out of upto 10% of the initial investment amount (limit) purchased or switched in within 1 year from the date of allotment: Nil. b) If units redeemed or switched out are in excess of the limit within 1 year from the date of allotment: 1%. c) If units are redeemed or switched out on or after 1 year from the date of allotment: Nil. Regular:1.60%; Direct: 0.90% Investment Style: Maturity Short 1.10% 1.63 yrs 8.81% Medium Long Volatiliy Medium Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Karelides Traders Private Ltd. ( backed by unconditional and irrevocable undertaking by a wholly owned subsidiary of Piramal Enterprises Ltd ) ICRA AA-(SO) 7.92 Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) BRICKWORK BWR A(SO) 3.92 HDFC Ltd. CRISIL AAA 3.85 Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) BRICKWORK BWR A+(SO) 3.84 HPCL Mittal Energy Ltd. ICRA AA 3.24 Reliance Jio Infocomm Ltd. CRISIL AAA 3.20 Nuvoco Vistas Corporation Ltd. ( 100 subsidiary of Nirma Ltd.) CRISIL AA 2.61 Manav Investment And Trading Company Ltd. ( backed by unconditional underwriting obligation by Axis Capital ) ICRA AAA 2.31 India Infoline Housing Finance Ltd. ICRA AA 2.30 YES Bank Ltd. ICRA AA 1.97 Nirma Ltd. CRISIL AA 1.93 AU Small Finance Bank Ltd. FITCH IND AA Adani Infra (India) Limited. ( Secured by shares of Adani Port, Adani Enterprises & Adani Transmissions) (^) BRICKWORK BWR AA-(SO) 1.91 Indiabulls Housing Finance Ltd.(^) ICRA AAA 1.91 S D Corporation Private Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) CARE AA+(SO) 1.76 Edelweiss Agri Value Chain Ltd. ( Unconditional and irrevocable guarantee from Edelweiss Financial Services Limited) CARE AA(SO) 1.62 Prestige Estates Projects Limited ICRA A Vedanta Ltd. CRISIL AA 1.44 Bharti Telecom Ltd. CRISIL AA Dewan Housing Finance Corporation Ltd. CARE AAA 1.15 ECL Finance Limited(^) BRICKWORK BWR AA 1.03 ECL Finance Limited(^) ICRA AA 0.97 Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) UNRATED 0.96 Hinduja Leyland Finance Ltd. CRISIL AA 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 Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) ICRA AAA 0.67 Janalakshami Financial Services Ltd. ICRA A S D Corporation Private Ltd. ( Guarantee by Shapoorji Pallonji & Company Ltd ) CARE AA+(SO) 0.66 Dalmia Cement (Bharat) Ltd ICRA AA 0.65 Grand View Estates Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) ICRA AA(SO) 0.48 Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) CRISIL AAA 0.34 Continental Drug Company P Ltd ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) BRICKWORK BWR A Adani Infra (India) Limited. BRICKWORK BWR AA-(SO) 0.31 Piramal Finance Limited(^) ICRA AA 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) 0.28 Notes: ^ Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Mar 2018 is 3.82% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 2.07 years. Kotak Income Opportunities Fund NAV as on March 28, 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). ALLOCATION (%) Aashman Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Divyesh Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Elena Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Pratyash Renewable Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 SEI Baskara Power Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 SEI Enerstar Renewable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 SEI Mihir Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Shreyas Renwable Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Zuvan Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) CARE AA-(SO) 0.28 Piramal Enterprises Ltd. ICRA AA 0.19 India Infoline Finance Limited ICRA AA 0.13 Indiabulls Housing Finance Ltd. CARE AAA 0.08 Indostar Capital Finance Limited CARE AA LIC Housing Finance Ltd. CRISIL AAA 0.02 Corporate Debt/Financial Institutions - Total Public Sector Undertakings U P Power Corporation Ltd ( Guaranteed By UP State Government ) CRISIL A+(SO) 6.19 Andhra Bank CRISIL AA Punjab & Sind Bank ICRA A U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 2.74 Syndicate Bank CARE AA Union Bank of India CARE AA Corporation Bank CRISIL A Allahabad Bank BRICKWORK BWR A PNB Housing Finance Ltd. CARE AAA 0.48 U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA 0.48 Bank Of Baroda CARE AA Bank of India CRISIL A Bank of India BRICKWORK BWR AA Konkan Railway Corporation Ltd. ICRA AAA 0.10 United Bank Of India CRISIL AA Power Finance Corporation Ltd. CRISIL AAA 0.08 Bank Of Baroda CARE AA 0.06 Steel Authority of India Ltd. FITCH IND AA Public Sector Undertakings - Total Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Indiabulls Housing Finance Ltd. CRISIL A HDFC Ltd. CRISIL A HDFC Ltd. ICRA A Muthoot Capital Services Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 7.02 Public Sector Undertakings National Bank for Agriculture & Rural Development ICRA A Public Sector Undertakings - Total 0.09 Collateral Borrowing & Lending obligation 0.43 Net Current /(Liabilities) Debentures and Bonds Net Current Commercial Paper (CP)/Cer ficate of Deposits (CD) CBLO & Term Deposits & Rev.Repo This product is suitable for investors who are seeking*: Income over a medium term investment horizon Investment in debt & money market securities * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. Investors understand that their principal will be at moderately low risk RATING PROFILE (%) A1, AA+, AA+(SO), AA, AA(SO), BWR AA, IND AA, IND AA(SO), AA-, AA-(SO), BWR AA-, BWR AA-(SO), IND AA- A+, A+(SO), BWR A+, BWR A+(SO), BWR A(SO), A-, BWR A- A1+, AAA Net Current Unrated CBLO & Term Deposits & Rev.Repo * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

33 KOTAK MEDIUM TERM FUND An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* : CRISIL Composite Bond Fund Allotment date: March 21, 2014 AAUM: AUM: `4, crs `4, crs 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. 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 Quarterly (20th of Mar, Jun, Sep and Dec of every Year), Annually (12th of March) Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Purchase: `5,000/- and in multiples of 1 for purchases and for `0.01 for switches. Additional Purchase: `1000 & in multiples of `1.for purchases and for `0.01 for switches. Ideal Investment Horizon: 2.5 years & above Exit Load: a) For redemption / switch out of upto 15% of the initial investment amount (limit) purchased or switched in within 18 months from the date of allotment: Nil. b) If units redeemed or switched out are in excess of the limit within 18 months from the date of allotment: 2%. c) If units are redeemed or switched out on or after 18 months from the date of allotment: Nil. Regular:1.70%; Direct: 0.98% Investment Style: Maturity Short Medium Long Volatiliy Medium 1.51% 2.12 yrs 8.70% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Karelides Traders Private Ltd. ICRA AA-(SO) 6.74 Reliance Jio Infocomm Ltd. CRISIL AAA 4.85 Nuvoco Vistas Corporation Ltd. CRISIL AA 3.54 HPCL Mittal Energy Ltd. ICRA AA 3.11 Adani Infra (India) Limited. BRICKWORK BWR AA-(SO) 3.09 Edelweiss Commodities Services Ltd. ICRA AA 2.90 Dalmia Cement (Bharat) Ltd ICRA AA 2.41 Edelweiss Housing Finance Limited ICRA AA 2.30 Dewan Housing Finance Corporation Ltd. CARE AAA 2.17 Piramal Finance Limited ICRA AA 2.17 S D Corporation Private Ltd. CARE AA+(SO) 2.11 Suhani Trading and Investment Consultants Pvt Ltd BRICKWORK BWR A+(SO) 2.06 Indiabulls Housing Finance Ltd. CARE AAA 1.97 Vizag General Cargo Berth Private Ltd. CRISIL AA(SO) 1.85 HDFC Ltd. CRISIL AAA 1.83 Nirma Ltd. CRISIL AA 1.74 ECL Finance Limited ICRA AA 1.67 Prestige Estates Projects Limited ICRA A Igarashi Motors Sales Pvt. Ltd. ICRA AAA(SO) 1.23 Ananta Landmarks Pvt Ltd. UNRATED 1.03 Hinduja Leyland Finance Ltd. CRISIL AA Future Lifestyle Fashions Ltd. CRISIL AA Essel Lucknow Raebareli Toll Roads Limited CARE AAA 1.01 Reliance Utilities And Power Pvt. Ltd. CRISIL AAA 0.95 YES Bank Ltd. ICRA AA 0.91 Birla Corporation Ltd. CARE AA 0.83 Muthoot Finance Ltd. CRISIL AA 0.83 Reliance Ports And Terminals Ltd. CRISIL AAA 0.83 AU Small Finance Bank Ltd. FITCH IND AA Bharti Telecom Ltd. CRISIL AA East-North Interconnection Company Limited CRISIL AAA(SO) 0.41 Grand View Estates Pvt. Ltd. ICRA AA(SO) 0.41 ECL Finance Limited BRICKWORK BWR AA 0.40 Aasan Corporate Solutions Private Limited ICRA AA-(SO) 0.35 L & T Housing Finance Ltd. CARE AAA 0.31 Talwandi Sabo Power Ltd. CRISIL AA(SO) 0.31 Aarish Solar Power Ltd. CARE AA-(SO) 0.30 Aashman Energy Pvt. Ltd. CARE AA-(SO) 0.30 Divyesh Power Pvt. Ltd. CARE AA-(SO) 0.30 Elena Renewable Energy Pvt. Ltd. CARE AA-(SO) 0.30 Janalakshami Financial Services Ltd. ICRA A Pratyash Renewable Pvt. Ltd. CARE AA-(SO) 0.30 SEI Baskara Power Pvt. Ltd. CARE AA-(SO) 0.30 SEI Enerstar Renewable Energy Pvt. Ltd. CARE AA-(SO) 0.30 SEI Mihir Energy Pvt. Ltd. CARE AA-(SO) 0.30 Shreyas Renwable Energy Pvt. Ltd. CARE AA-(SO) 0.30 Zuvan Energy Pvt. Ltd. CARE AA-(SO) 0.30 Intime Properties Ltd. FITCH IND AAA 0.28 IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.21 The Indian Hotels Company Ltd. CARE AA Asirvad Microfinance Private Limited CRISIL A LIC Housing Finance Ltd. CRISIL AAA 0.08 Corporate Debt/Financial Institutions - Total Public Sector Undertakings U P Power Corporation Ltd FITCH IND AA(SO) 4.96 Punjab & Sind Bank ICRA A U P Power Corporation Ltd CRISIL A+(SO) 3.52 PNB Housing Finance Ltd. CARE AAA 3.41 Punjab National Bank CARE AA Syndicate Bank CARE AA Union Bank of India FITCH IND AA 1.43 U P Power Corporation Ltd FITCH IND AA 1.25 Union Bank of India CARE AA Corporation Bank CRISIL A Bank of India CRISIL A Andhra Bank CRISIL AA Bank of India BRICKWORK BWR AA Allahabad Bank CARE A Punjab National Bank BRICKWORK BWR AA 0.41 Allahabad Bank BRICKWORK BWR A State Bank Of India. CRISIL AAA 0.23 Punjab National Bank CARE AA 0.21 Steel Authority of India Ltd. FITCH IND AA Public Sector Undertakings - Total Government Dated Securities 1.44% Central Government SOV 0.31 Government Dated Securities - Total 0.31 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions Indiabulls Housing Finance Ltd. CRISIL A HDFC Ltd. CRISIL A HDFC Ltd. ICRA A YES Bank Ltd. CRISIL A Corporate Debt/Financial Institutions - Total 2.92 Public Sector Undertakings National Bank for Agriculture & Rural Development CRISIL A Public Sector Undertakings - Total 0.30 Collateral Borrowing & Lending obligation 1.02 Net Current /(Liabilities) 2.24 Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 2.74 years Kotak Medium Term Fund NAV as on March 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Annual Dividend), ` (Direct Annual Dividend). ALLOCATION (%) Debentures and Bonds Commercial Paper (CP)/Cer ficate of Deposits (CD) Net Current CBLO & Term Deposits & Rev.Repo Government Dated Securi es 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 a portfolio weighted average maturity between 3-7 years * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. RATING PROFILE (%) AA+, AA+(SO), AA, AA(SO), BWR AA, IND AA, IND AA(SO), AA-, AA-(SO), BWR AA-, BWR AA-(SO), IND AA- A1+, AAA, AAA(SO), IND AAA, SOV A+, A+(SO), BWR A+(SO), A-, BWR A- Net Current Unrated CBLO & Term Deposits & Rev.Repo * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

34 KOTAK CORPORATE BOND FUND An Open - Ended Debt Fund Manager: Mr. Deepak Agrawal* : CRISIL Composite Bond Fund Allotment date: September 21, 2007 AAUM: AUM: `1, crs `1, crs The Fund seeks to generate income and capital appreciation largely through a focus on investments in corporate debt securities. However, there is no assurance or guarantee that the investment objective of the scheme will be achieved. 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 Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1for purchase and for `0.01 for switches. Ideal Investment Horizon: 1 Year & Above Exit Load: Nil. (applicable for all plans) Regular:0.55%; Direct: 0.25% 0.67% 0.59 yrs 7.43% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Reliance Jio Infocomm Ltd. CRISIL AAA Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) ICRA AAA 8.60 Mahindra & Mahindra Financial Services Ltd.(^) FITCH IND AAA 6.96 Reliance Utilities And Power Pvt. Ltd. ( Mukesh Ambani Group) CRISIL AAA 6.85 Mahindra & Mahindra Financial Services Ltd. FITCH AAA(IND) 4.22 Manav Investment And Trading Company Ltd. ( backed by unconditional underwriting obligation by Axis Capital ) ICRA AAA 2.59 ICICI Home Finance Company Limited ICRA AAA 2.40 Dewan Housing Finance Corporation Ltd. CARE AAA 2.15 Indiabulls Housing Finance Ltd. ICRA AAA 1.11 Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) CRISIL AAA 0.94 LIC Housing Finance Ltd. CRISIL AAA 0.90 HDFC Ltd. CRISIL AAA 0.52 IOT Utkal Energy Services Ltd. CRISIL AAA(SO) 0.47 Bajaj Finance Ltd. FITCH IND AAA 0.22 Corporate Debt/Financial Institutions - Total Public Sector Undertakings Power Finance Corporation Ltd.(^) CRISIL AAA 8.91 PNB Housing Finance Ltd.(^) CARE AAA 5.91 ONGC Manglore Petrochemicals Ltd. FITCH IND AAA 3.63 Small Industries Development Bank Of India CARE AAA 2.33 Canara Bank CRISIL AAA 1.85 Export-Import Bank of India CRISIL AAA 1 Powergrid Vizag Transminssion Ltd. ( backed by unconditional and irrevocable guarantee by Powergrid Corp ) CRISIL AAA(SO) 0.61 National Bank for Agriculture & Rural Development CRISIL AAA 0.10 Public Sector Undertakings - Total Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions L & T Finance Ltd. ICRA A HDFC Ltd. ICRA A ICICI Bank Ltd. CRISIL A IndusInd Bank Ltd. CRISIL A Corporate Debt/Financial Institutions - Total Public Sector Undertakings National Bank for Agriculture & Rural Development ICRA A National Bank for Agriculture & Rural Development CRISIL A Public Sector Undertakings - Total 2.11 Collateral Borrowing & Lending obligation 0.78 Net Current /(Liabilities) 5.56 Aggregate value of investments by other schemes of Kotak Mahindra Mutual Fund as on 31 March 2018 is Rs lacs Notes: (^) Fully or Partly blocked against Interest Rate Swap (IRS). Hedging Position through Interest Rate Swaps as on 31 Mar 2018 is 8.58% of the net assets. Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 0.64 years Kotak Corporate Bond Fund NAV as on March 28, 2018: ` (Regular Plan-Growth Option), ` (Regular Plan-Monthly Dividend), ` (Direct Plan- Growth Option), ` (Direct Plan- Monthly Dividend) Investment Style: Maturity Short Medium Long Volatiliy Medium ALLOCATION (%) Debentures and Bonds Net Current Commercial Paper (CP)/Cer ficate of Deposits (CD) CBLO & Term Deposits & Rev.Repo RATING PROFILE A1+, AAA, AAA(IND), AAA(SO), IND AAA Net Current CBLO & Term Deposits & Rev.Repo Don't tell me where your priorities are. Show me where you spend your money and I'll tell you what they are James W. Frick 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 & credit * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

35 Equity Funds Ready Reckoner Name Investment Theme Product Positioning Key Features Fund Manager Monthly AAUM Mcap (%) Overweight Underweight Beta (Rs. Crs) Sharpe Standard Deviation (%) 5 years Alpha (%) Kotak 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 1, Industrial Manufacturing 2. Media & Entertainment 3. Cement & Cement Products 1. Financial Services 2. Information Technology 3. Telecom Kotak Classic Equity Large cap 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 Information Technology 2. Contruction 3. Consumer Goods 1. Financial Services 2. Energy 3. Automobile Kotak Opportunities Spotting the hidden gems Identifies investment opportunities across market capitalisation and sectors Mr. Harsha Upadhyaya Nifty 500 2, Cement & Cement Products 2. Industrial Manufacturing 3. Fertiliser and Pesticides 1. Information Technology 2. Automobile 3. Pharma 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 , Cement & Cement Products 2. Financial Services 3. Construction 1. Information technology 2.Consumer Goods 3.Metals Kotak Tax Saver ELSS Tax advantage with potential equity growth a. Portfolio is diversified across sectors and market capitalization segments b. Offers dual benefits of growth and tax savings Mr. Harsha Upadhyaya Nifty Cement & Cement Products 2. Energy 3. Industrial Manufacturing 1. Automobiles 2. Information technology 3. Financial Services Kotak Midcap Mid cap Spot them young, watch them grow a. Identifies the hidden growth potential of mid-cap sized companies b. Portfolio exhibits higher volatility than large caps however tends to have a larger return base c. Buy and hold strategy Mr. Pankaj Tibrewal Nifty Midcap Industrial Manufacturing 2. Chemicals 3. Cement & Cement Products 1. Services 2. Information Technology 3. Pharma Kotak Emerging Equity Mid and Small 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 based. d. 15%-20% allocation to large cap opportunities as tactical plays Mr. Pankaj Tibrewal S&P BSE Mid Small Cap 2, Industrial Manufacturing 2. Financial Services 3. Chemicals 1. Energy 2. Services 3. Information Technology 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 S&P BSE N/A N/A 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 CRISIL Hybrid (Aggressive 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 1, N/A N/A N/A NA Details provided are as on Mar 28, Ratio Source: ICRA MFI Explorer. Risk rate assumed to be 6.19% (Since on 31st March 2018, FBIL Overnight MIBOR was at unsually high at 9.39%, we are taking the average of the entire March month). Alpha = Difference between returns & Index TRI of the scheme. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). for Kotak Balance - The existing benchmark "CRISIL Balanced Fund" has been renamed as "CRISIL Hybrid Aggressive Index" as per communication received from CRISIL * The given market cap data is on the basis of new AMFI guidelines wherein Stocks are categorised as per given AMFI list *As per SID, Kotak Midcap Fund Market cap is (74.58% Mid Cap, 24.78% Small Cap and 0.64% Cash), and for Kotak Emerging Equity fund (11.94% Large Cap, 85.31% Mid Cap, 0.34 %Small Cap and 2.41% Cash ). The Market cap data as per sid for Kotak Midcap Fund & Kotak Emerging Equity Fund, the stocks falling within the mcap range in Nifty Midcap 100 & S&P BSE Mid Small Cap, respectively, would be considered as midcap stocks. Any stock which would have mcap above the highest mcap of these benchmarks would be considered as largecap, and any stock would have mcap below the lowest mcap would be considered as smallcap. For Tax Saver Fund : Minimum Initial Investment: 500. Additional Investment: 500 & in multiples of 500. For all other Equity s : Minimum Initial Investment: Additional Investment: 1000 & in multiples of 1. N/A: Field not applicable to the scheme owing to its investment theme. Risk Factor: Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Continuous offer of units of all schemes available at NAV based prices. LARGECAP SMALLCAP MIDCAP DEBT + CASH

36 Name of the This product is suitable for investors who are seeking* Equity Kotak Equity Arbitrage Fund Kotak 50 Kotak Midcap Kotak Opportunities Kotak Classic Equity Kotak Tax Saver Kotak Emerging Equity Kotak Select Focus Fund Kotak Balance Fund Kotak Equity Savings Fund Kotak Infrastructure & Economic Reform Fund (formerly known as PineBridge Infrastructure & Economic Reform Fund ) Debt Kotak Bond Short Term Kotak Treasury Advantage Fund Kotak Flexi Debt Kotak Income Opportunities Kotak Corporate Bond Fund (Formerly known as PineBridge India Total Return Bond Fund) Kotak Banking and PSU Debt Fund Kotak Gilt Investment Kotak Bond Kotak Medium Term Fund Kotak Duration Fund (Formerly known as PineBridg India Short Term Fund) Kotak Liquid Kotak Floater Short Term 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 medium term horizon Investment in debt & money market securities Income over a short term investment horizon Investment in debt & money market securities Income over a medium term investment horizon Investment in debt & money market securities Income over a medium term investment horizon Investment in debt & money market securities Regular Income over short term Income by investing in fixed income securities of varying maturities and credit Income over a short to medium term investment horizon Investment in debt & money market securities of PSUs, Banks & government securities Income over a long investment horizon Investments in sovereign securities issued by the Central and/or State Government(s) and / or reverse repos in such securities. Income over a long investment horizon Investment in debt & money market securities Income over a medium term investment horizon Investment in debt, government securities & money market instruments with a portfolio weighted average maturity between 3-7 years Regular Income over short term Income by focusing on low duration securities Income over a short term investment horizon Investment in debt & money market securities Income over a short term investment horizon Investment in floating rate securities, debt & money market securities Investors understand that their principal will be at moderately low risk Investors understand that their principal will be at moderate risk 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 low 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 99.53% AAA 0.47% AA 13, Liquid-Conservative Kotak Liquid Nil Maturity < 91 days 1-15 days 99.62% AAA 0.38% AA 14, Liquid-Aggressive Kotak Floater Short Term Nil Modified duration < 6 months 1-3 Months 76.35% AAA 23.65% AA 5, UST^-Conservative Kotak Treasury Advantage # Nil Modified duration between 6 12 months 1-3 Months 26.12% AAA 67.76% AA 5, UST^-Aggressive Kotak Duration Nil % corporate bond exposure 6 Months and above 100% AAA 1, UST^-Aggressive Kotak Corporate Bond Nil quality Banking & PSU assets 6 Months and above 53.25% AAA, 15.03% Gilt 31.73% AA 1, Banking and PSU Kotak Banking & PSU Debt Nil Avg Mat between 1-3 years 6 Months and above 90.78% AAA, 9.22% Gilt 9, STP^^-Conservative 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 Upto 65% in > 1 yr papers, try to capitalize on mispriced credits 1 Year and above 24.51% AAA 52.48% AA 5, Accrual Kotak Income Opportunities Withdrawal up to 15% of investment amt within 18 months: Nil, > above limit of withdrawal within 18 months : 2%, After 18 months : Nil Avg Mat between 3-7 years 2.5 Years and above 26.18% AAA, 58.95% AA, 0.31% Gilt 4, Accrual Kotak Medium Term Nil Dynamic strategy, duration has never gone above 5 years. 6 Months and above 31.92% AAA 55.46% Gilt 12.63% AA Dynamic STP Kotak Flexi Debt *Within 3 months: 0.20% After 3 months: NIL Dynamic strategy, no cap on duration 1 Year and above 46.07% AAA 43.76% Gilt 7.14% AA 2, Income-Aggressive Kotak Bond Nil Dynamic strategy, no cap on duration 1 Year and above 100% Gilt Gilt-Aggressive Kotak Gilt Investment th Details provided are as on March 28, Note: ^UST = Ultra Short Term plan, ^^STP= Short Term plan. **AAA also includes A1+,A1+(SO), AAA(SO), IND AAA, Net current, CBLO, Term Deposit and Rev repo. For Kotak Gilt Fund: Cash and Cash Equivalent is included under Gilt. 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. AA includes AA,AA+,AA-. * 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, Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

37 KOTAK BOND An Open - Ended Debt Fund Manager: Mr. Abhishek Bisen* : Crisil Composite Bond Fund Allotment date: November 25, 1999 AAUM: AUM: `2, crs `2, crs To create a portfolio of debt and money market instruments of different maturities so as to spread the risk across a wide maturity horizon & different kinds of issuers in the debt market. 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 Quarterly (20th of Mar/Jun/Sep/Dec), Half Yearly (20th of Mar/Sept), Annual (12th of Mar) (applicable for all plans) Ratios Standard Deviation Modified Duration Portfolio Yield Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 1 year & above 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 p r o s p e c t i v e b a s i s f o r U n i t s purchased/sip/stp registered on or after February 22, Regular:1.85%; Direct: 0.90% Investment Style: Maturity Short Medium Long Volatiliy Medium 3.76% 4.62 yrs 7.78% Debt Instruments Debentures and Bonds Corporate Debt/Financial Institutions Shriram Transport Finance Co Ltd. CRISIL AA HDFC Ltd. CRISIL AAA 4.45 LIC Housing Finance Ltd. CRISIL AAA 3.73 Reliance Jio Infocomm Ltd. CRISIL AAA 1.38 Reliance Utilities And Power Pvt. Ltd. CRISIL AAA 0.97 Can Fin Homes Ltd. ICRA AAA 0.69 Vedanta Ltd. CRISIL AA 0.05 Hindalco Industries Ltd. CRISIL AA 0.02 Corporate Debt/Financial Institutions - Total Public Sector Undertakings Rural Electrification Corporation Ltd. CRISIL AAA 5.74 National Bank for Agriculture & Rural Development CRISIL AAA 5.04 National Bank for Agriculture & Rural Development FITCH IND AAA 2.45 United Bank Of India CRISIL AA Allahabad Bank BRICKWORK BWR A U P Power Corporation Ltd CRISIL A+(SO) 0.89 U P Power Corporation Ltd FITCH IND AA(SO) 0.25 Public Sector Undertakings - Total Government Dated Securities 7.17% Central Government SOV % Central Government SOV Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : 6.85 years. Kotak Bond Fund NAV as on March 28, 2018: ` (Growth Option), ` (Direct Growth Option), ` (Quarterly Dividend), ` (Direct Quarterly Dividend), ` (Annual Dividend), ` (Direct Annual Dividend) ALLOCATION (%) RATING PROFILE (%) 6.79% Central Government SOV % State Government SOV % State Government SOV % Central Government SOV % Central Government SOV % State Government SOV % State Government SOV % State Government SOV 0.10 Government Dated Securities - Total Futures 7.17% GS 08/01/2028-APR Futures (Market value represents Notional Value) - Total 2.41 Money Market Instruments Commercial Paper(CP)/Certificate of Deposits(CD) Corporate Debt/Financial Institutions HDFC Ltd. ICRA A Indiabulls Housing Finance Ltd. CRISIL A HDFC Ltd. CRISIL A Aditya Birla Finance Ltd. ICRA A Corporate Debt/Financial Institutions - Total 5.88 Public Sector Undertakings Andhra Bank CRISIL A Public Sector Undertakings - Total 4.82 Collateral Borrowing & Lending obligation 0.61 Net Current /(Liabilities) Government Dated Securi es Debentures and Bonds Commercial Paper (CP)/Cer ficate of Deposits (CD) Net Current Deriva ves A1+, AAA, IND AAA, SOV Net Current AA+, AA, IND AA(SO), AA- A+(SO), BWR A- Deriva ves CBLO & Term Deposits & Rev.Repo Only buy something that you'd be perfectly happy to hold if the market shut down for 10 years. Investors understand that their principal will be at moderate risk This product is suitable for investors who are seeking*: Income over long term investment horizon Investment in debt & money market securities * Investors should consult their financial advisors if in doubt about whether the product is suitable for them. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

38 KOTAK GILT INVESTMENT An Open - Ended Debt Fund Manager: Mr. Abhishek Bisen* : ISEC Composite AAUM: AUM: Allotment date: Regular Plan - December 29, 1998; PF & Trust Plan - November 11, 2003 ` crs ` crs To generate risk-free returns through investments in sovereign securities issued by the Central and /or State Government(s) and/ or reverse repos in such securities. However, there is no assurance that the objective of the scheme will be realized. 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 4.76% 4.76% 7.15 yrs 7.74% Source: ICRAMFI Explorer. Standard Deviation is calculated on Annualised basis using 3 years history of monthly returns. Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investments Horizon: 1 year & above Entry Load: (a) Regular Plan - Entry: Nil. (b) PF & Trust Plan - Entry: Nil. (applicable for all plans) Exit Load: (a) Regular Plan - Exit: Nil. (b) PF&Trust Plan - Exit: Nil. (applicable for all plans) Government Dated Securities 6.68% 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 % State Government SOV 0.65 Average Maturity of the portfolio based on total maturity of fixed rate and immediate reset date of floating rate instruments : years. Kotak Gilt Investment Fund NAV as on March 28, 2018: ` (Regular-Growth), ` (Regular-Growth-Direct), ` (Quarterly-Dividend), ` (Quarterly-Dividend Direct), ` (PF & Trust-Growth), ` (PF & Trust-Growth Direct), ` (PF & Trust-Quarterly Dividend ) ALLOCATION (%) RATING PROFILE (%) % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV % State Government SOV 0.18 Government Dated Securities - Total Collateral Borrowing & Lending obligation 0.13 Net Current /(Liabilities) Government Dated Securi es CBLO & Term Deposits & Rev.Repo Net Current SOV CBLO & Term Deposits & Rev.Repo Net Current We don't have to be smarter than the rest. We have to be more disciplined than the rest. Regular:1.40%; Direct: 0.40% Investment Style: Maturity Short Medium Long Volatiliy Medium 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 Investments 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. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

39 Issuer Name Details of exposure across all Debt Funds of Kotak Mahindra Mutual Fund as on March 31, 2018 %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 Private Limited ( Guaranteed by a Piramal Group Company ) 0.34 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) 0.38 Aditya Birla Fashion and Retail Ltd Aditya Birla Finance Ltd Aditya Birla Housing Finance 0.41 Allahabad Bank 0.37 Altico Capital India Pvt Ltd 0.05 Ananta Landmarks Pvt Ltd. ( Kalpataru Group Company ) 0.15 Andhra Bank 1.01 Asirvad Microfinance Private Limited ( 85% subsidiary of Manappuram Finance Ltd ) 0.06 Aspire Home Finance Corporation Ltd 0.11 Azim premji Trust 0.15 BMW India Financial Services Private Limited 0.08 Bajaj Capital Ventures Pvt. Ltd. ( Secured by Equity shares of Bajaj Corp. Ltd ) 0.11 Bajaj Finance Ltd Bajaj Housing Finance Ltd Bank Of Baroda 0.85 Bank of India 0.28 Bharti Telecom Ltd Bhopal Dhule Transmission Company Ltd. ( Operational power transmission project ) 0.29 Birla Corporation Ltd Birla TMT Holding Private Limited ( Holding Company for Aditya Birla Group ) 0.04 CBLO/REVERSE REPO 2.09 Can Fin Homes Ltd Canara Bank 0.08 Central Government 2.39 Cholamandalam Investment and Finance Company Ltd Continental Drug Company P Ltd ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) 0.37 Corporation Bank 0.15 Dalmia Cement (Bharat) Ltd 0.28 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 Limited 0.35 East-North Interconnection Company Limited ( Operational power transmission project ) 0.05 Edelweiss Agri Value Chain Ltd. ( Unconditional and irrevocable guarantee from Edelweiss Financial Services Limited) 0.43 Edelweiss Commodities Services Ltd Edelweiss Commodities Services Ltd. ( Put options on ECL Finance) 0.52 Edelweiss Housing Finance Limited 0.30 Edisons Utility Works Pvt.Ltd. ( Secured by Equity shares of Zee Entertainment Enterprises Ltd ) 0.19 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 Essel Lucknow Raebareli Toll Roads Limited ( Funding against NHAI Annuity) 0.07 Essel Mining & Industries Ltd Export-Import Bank of India 1.27 Federal Bank Ltd Ford Credit India Pvt. Ltd Fullerton India Credit Co. Ltd Future Lifestyle Fashions Ltd Grand View Estates Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.43 Gruh Finance Ltd HDB Financial Services Ltd HDFC Bank Ltd HDFC Ltd HPCL Mittal Energy Ltd Point Properties Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.13 Hindalco Industries Ltd Hinduja Leyland Finance Ltd ICICI Bank Ltd ICICI Home Finance Company Limited 0.56 IDFC Bank Limited 1.47 IIFL Wealth Finance Ltd IL & FS Financial Services Ltd IL & FS Transportation Networks Ltd. ( Corporate Guarantee from IL & FS Ltd. ) 0.12 IOT Utkal Energy Services Ltd Igarashi Motors Sales Pvt. Ltd. ( backed by unconditional and irrevocable undertaking by Axis Capital ) 0.09 India Infoline Finance Limited 0.61 India Infoline Housing Finance Ltd Indiabulls Housing Finance Ltd Indian Bank 0.30 Indian Oil Corporation Ltd Indian Railway Finance Corporation Ltd Indostar Capital Finance Limited 0.20 Indus Towers Limited 1.48 IndusInd Bank Ltd Intime Properties Ltd. ( Commercial Mortgage-Backed Securities ) 0.11 JM Financial Products Limited 0.04 Janalakshami Financial Services Ltd Jyothy Fbricare Services Limited ( Guarrented By Jyothi Laboratories Ltd ) 0.09 Karelides Traders Private Ltd. ( backed by unconditional and irrevocable undertaking by a wholly owned subsidiary of Piramal Enterprises Ltd ) 1.51 Karnataka Bank Ltd 0.75 Konkan Railway Corporation Ltd Kotak Mahindra Investments Ltd Kotak Mahindra Prime Ltd L & T Finance Ltd Issuer Name %age of Exposure to Debt AUM L & T Housing Finance Ltd L & T Infrastructure Finance Company Ltd LIC Housing Finance Ltd MA Multi Trade Pvt Ltd ( Secured by Equity shares of Bajaj Corp. Ltd ) 0.11 Mahindra & Mahindra Financial Services Ltd Manappuram Finance Ltd Manav Investment And Trading Company Ltd. ( backed by unconditional underwriting obligation by Axis Capital ) 0.23 Muthoot Capital Services Ltd Muthoot Finance Ltd Muthoot Fincorp Ltd Nabha Power Ltd. ( backed by unconditional and irrevocable guarantee by Larsen & Toubro Ltd ) 1.72 National Bank for Agriculture & Rural Development 3.31 National Housing Bank 0.19 National Thermal Power Corporation Ltd Nirma Ltd Nuvoco Vistas Corporation Ltd. ( 100% subsidiary of Nirma Ltd.) 0.64 ONGC Manglore Petrochemicals Ltd PNB Housing Finance Ltd Piramal Enterprises Ltd Piramal Finance Limited 0.44 Power Finance Corporation Ltd Power Grid Corporation of India Ltd Powergrid Vizag Transminssion Ltd. ( backed by unconditional and irrevocable guarantee by Powergrid Corp ) 0.03 Pratyash Renewable Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 Prestige Estates Projects Limited 0.30 Punjab & Sind Bank 0.85 Punjab National Bank 0.35 Reliance Industries Ltd Reliance Infrastructure Ltd. ( Backed by SBLC of ICICI Bank) 0.63 Reliance Jio Infocomm Ltd Reliance Jio Infocomm Ltd. ( Irrevocably and unconditionally guaranteed by Reliance Industries ) 0.09 Reliance Ports And Terminals Ltd. ( Mukesh Ambani Group ) 0.15 Reliance Retail Limited 0.37 Reliance Utilities And Power Pvt. Ltd. ( Mukesh Ambani Group ) 0.35 Rural Electrification Corporation Ltd S D Corporation Private Ltd. ( DSRA Guarantee from Shapoorji Pallonji and Company Private Limited) 0.77 S D Corporation Private Ltd. ( Guarantee by Shapoorji Pallonji & Company Ltd ) 0.05 SBK Properties Pvt Ltd. ( Guaranteed by a Kalyani Group company ) 0.06 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 ) 0.01 Sahyadri Agencies Ltd ( Secured by Equity shares of Jyothy Laboratories Ltd. ) 0.11 Sarvoday Advisory Services Pvt. Ltd. ( Secured by Equity shares of JSW Energy Ltd. and JSW Steel Ltd. ) 0.62 Shapoorji Pallonji Energy Gujarat Pvt. Ltd. ( backed by unconditional and irrevocable guarantee of Shapoorji Pallonji & Co Pvt Ltd ) 0.09 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 Small Industries Development Bank Of India 1.01 Standard Chartered Investment & Loan India Ltd State Bank Of India State Government 4.71 Steel Authority of India Ltd Suhani Trading and Investment Consultants Pvt Ltd ( Secured by Equity shares of Future Ratails Ltd & Future Lifestyle Fashions Ltd. ) 0.45 Sun Pharma Laboratories Limited 0.15 Sundaram BNP Paribas Home Finance Ltd 0.08 Sundaram Finance Ltd Suraksha Asset Reconstruction Pvt Ltd ( Secured by Equity shares of Sun Pharmaceuticals Industries Ltd ) 0.71 Suraksha Realty Ltd ( Secured by Equity shares of Sun Pharmaceuticals Industries Ltd ) 0.77 Syndicate Bank 0.36 TV18 Broadcast Ltd 0.07 Talwandi Sabo Power Ltd. ( Guaranteed by Vedanta Ltd.) 0.02 Tata Capital Financial Services Limited 0.82 Tata Capital Housing Finance Ltd Tata Motors Finance Ltd 0.78 Tata Power Company Ltd Tata Sons Ltd Tata Steel Ltd The Indian Hotels Company Ltd Torrent Pharmaceuticals Ltd Trapti Trading & Investments Private Limited ( Holding Company for Aditya Birla Group) 0.07 U P Power Corporation Ltd ( Guaranteed By UP State Government ) 2.38 Union Bank of India 1.50 United Bank Of India 0.22 Varun Beverages Limited 0.23 Vedanta Ltd Vijaya Bank 0.36 Vizag General Cargo Berth Private Ltd. ( backed by unconditional and irrevocable guarantee of Vedanta Ltd ) 0.14 YES Bank Ltd Zuvan Energy Pvt. Ltd. ( Solar power generating SPV of Greenko Group with offtaker as NTPC & secured by corporate guarantee of Greenko Energies Pvt. Ltd. ) 0.04 Total Industry / Sector %age of Exposure to Debt AUM BANK CASH(CBLO/REVERSE REPO) 2.08 CORPORATES FINANCIAL SERVICES GOI/TBILLS 7.11 NBFC REAL ESTATE 0.45 Total Includes Hybrid schemes - debt schemes having equity exposure 35

40 KOTAK ASSET ALLOCATOR FUND An Open - Ended Equity Fund Manager: Mr. Deepak Gupta* AAUM: `34.41 crs AUM: `35.95 crs Allotment date: August 9, 2004 Folio Count : 2,359 : CRISIL Hybrid Aggressive Index The investment objective of the scheme is to generate long-term capital appreciation from a portfolio created by investing in specified open-ended equity, and debt schemes of Kotak Mahindra Mutual Fund. However, there is no assurance that the investment objective of the will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above Exit Load: a) 1% if exit before 1 year from date of allotment. b) Nil if exit after 1 year from the date of allotment. Exit Load shall be applicable incase of switch from Regular Plan (where broker code is mentioned) to Direct Plan Exit Load shall not be applicable: Incase of switch from Regular Plan ( w h e r e n o b r o k e r c o d e i s mentioned) to Direct Plan In case of switch from Direct Plan to Regular Plan. Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Mutual Fund Units Kotak Treasury Advantage Fund Direct Growth Debt Kotak Bond Direct Plan Growth Debt Kotak Select Focus Fund SECTOR ALLOCATION (%) Direct Growth Equity 9.04 Kotak Liquid Direct Plan Growth Debt 7.99 Mutual Fund Units - Total Collateral Borrowing & Lending obligation 9.04 Net Current /(Liabilities) 0.01 Kotak Asset Allocator Fund NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) Debt Equity CBLO & Term Deposits & Rev.Repo Others If you are not willing to own a stock for 10 years, do not even think about owning it for 10 minutes. Regular:2.00%; Direct: 0.91% Investment Style Style Value Blend Growth Size Large Mid Small Investors understand that their principal will be at moderately 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. The existing benchmark CRISIL Balanced Fund has been renamed as CRISIL Hybrid Aggressive Index as per communication received from CRISIL. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no

41 KOTAK US EQUITY FUND An Open Ended Fund of Funds Investing Overseas The primary investment objective of the scheme is to provide long term capital appreciation by investing in units of a fund that invests predominantly in equity and equity related securities of companies having assets, products or operations in the United States. However, there is no assurance that the investment objective of the will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above 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; Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Mutual Fund Units Pinebridge US Large Cap SECTOR ALLOCATION (%) Fund Manager: Mr. Deepak Gupta* Allotment date: December 20, 2013 AAUM: `4.58 crs Folio Count: 477 AUM: `4.51 crs : Standard & Poor's 500 Total Return Net Index in USD is the benchmark of the underlying scheme. The same converted into INR using RBI reference rate will be the benchmark for the scheme. Research Enhance Fund Overseas Mutual Fund Mutual Fund Units - Total Net Current /(Liabilities) Kotak US Equity Fund NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) Overseas Mutual Fund Others Understand the nancial risks of all contracts and make sure these risks are protected before you sign. This can often mean getting an expert to advise you on the risks. Regular:1.40%; Direct: 0.64% Investment Style: Style Value Blend Growth Size Large Mid Small 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. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no

42 KOTAK GLOBAL EMERGING MARKET FUND An Open - Ended Equity : MSCI Emerging Market AAUM: `31.76 crs Allotment date: September 26, 2007 AUM: `31.26 crs Folio Count: 7,488 Fund Manager: Mr. Deepak Gupta (Dedicated fund manager for Fund Managers overseas investment) & Mr.Abhishek Bisen* The investment objective of the scheme is to generate long-term capital appreciation by investing in an overseas mutual fund scheme that invest in a diversified portfolio of securities as prescribed by SEBI from time to time in global emerging markets. However, there is no assurance that the objective of the scheme will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: above 3 years & 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 Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Mutual Fund Units MGF Asian Small Equity Fund Class I Overseas Mutual Fund ishares MSCI Emerging SECTOR ALLOCATION (%) Markets ETF Overseas Mutual Fund Mutual Fund Units - Total Collateral Borrowing & Lending obligation 3.20 Net Current /(Liabilities) 0.38 Kotak Global Emerging Market Fund NAV as on March 28, 2018: ` (Dividend Option), ` (Direct Dividend Option), ` (Growth Option), ` (Direct Growth Option) Overseas Mutual Fund CBLO & Term Deposits & Rev.Repo Others It is not the creation of wealth that is wrong, but the love of money for its own sake Margaret Thatcher, former UK Prime Minister Regular:1.80%; Direct: 1.30% Investment Style: Style Value Blend Growth Size Large Mid Small 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. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no

43 KOTAK WORLD GOLD FUND An Open Ended Fund of Funds 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 investment objective of the will be realized. Available Plans/Options A) Regular Plan B) Direct Plan Options: Dividend Payout, Dividend Reinvestment & Growth (applicable for all plans) Dividend Frequency Trustee s Discretion Initial Investment: `5000 and in multiple of `1 for purchase and for `0.01 for switches Additional Investment: `1000 & in multiples of `1 Ideal Investment Horizon: 3 years & above 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; Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Mutual Fund Units Falcon Gold Equity ASIA Overseas Mutual Fund SECTOR ALLOCATION (%) Fund Manager: Mr. Deepak Gupta* Allotment date: June 06, 2008 AAUM: `34.08 crs Folio Count: 12,444 AUM: `33.81 crs : Financial Times Gold Mines Total Price Index, in USD is the benchmark of Falcon Gold Equity Fund. The above translated to INR using the RBI Reference Rate will be the benchmark of Kotak World Gold Fund. Mutual Fund Units - Total Net Current /(Liabilities) 0.48 Kotak World Gold Fund NAV as on March 28, 2018: `6.844 (Dividend Option), `7.128 (Direct Dividend Option), `8.257 (Growth Option), `8.577(Direct Growth Option) Overseas Mutual Fund Others Buy when everyone else is selling and hold until everyone else is buying. That's not just a catchy slogan. It's the very essence of successful investing J. Paul Getty Regular: 1.70%; Direct: 1.10% Investment Style: Style Value Blend Growth Size Large Mid Small 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. * For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no

44 KOTAK GOLD ETF An Open Ended Gold Exchange Traded Fund Fund Manager: Mr. Abhishek Bisen* : Price of Gold Allotment date: July 27, 2007 AAUM: ` crs AUM: ` crs The investment objective of Kotak Gold ETF is to generate returns that are in line with the returns on investment in physical gold, subject to tracking error. However, there is no assurance that the investment objective of the will be realized. Available Plan Regular Plan Through Exchange:10 Units, Through AMC: Units, Ideal Investment Horizon: 3 years and above Exit Load: Nil (applicable for all plans) Regular: 1.00% Equity & Equity related (Listed/Awaiting listing on Stock Exchange) Gold Fineness99.5 Gold Kotak Gold ETF NAV as on March 28, 2018: ` Tracking Error: 0.06% SECTOR ALLOCATION (%) NAV Listed/Awaiting Listing on Stock Exchange - Total Net Current /(Liabilities) Gold Others Valuing a business is part art and part science. 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. * 7For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no

45 KOTAK NIFTY ETF An Open Ended Exchange Traded Fund [Eligible scheme under Rajiv Gandhi Equity Savings (RGESS)] Fund Manager: Mr. Deepak Gupta* : Nifty 50 Allotment date: February 2, 2010 AAUM: ` crs AUM: ` crs The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the CNX Nifty subject to tracking errors. However, there is no assurance that the investment objective of the will be realized. Available Plan Regular Plan Ratios Portfolio Turnover: Tracking Error: Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Exit Load: Nil (applicable for all plans) Regular: 0.10% 84.46% 0.08% Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks 9.71 HDFC Ltd. Finance 7.68 Reliance Industries Ltd. Petroleum Products 7.65 ITC Ltd. Consumer Non Durables 5.48 Infosys Ltd. Software 5.40 ICICI Bank Ltd. Banks 4.49 Larsen And Toubro Ltd. Construction Project 4.06 Tata Consultancy Services Ltd. Software 3.56 Kotak Mahindra Bank Ltd. Banks 3.51 Maruti Suzuki India Limited Auto 2.96 Hindustan Unilever Ltd. Consumer Non Durables 2.39 State Bank Of India Banks 2.33 IndusInd Bank Ltd. Banks 2.30 Axis Bank Ltd Banks 2.21 Mahindra & Mahindra Ltd. Auto 1.73 Tata Motors Ltd. Auto 1.52 Yes Bank Ltd Banks 1.41 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.37 HCL Technologies Ltd. Software 1.36 National Thermal Power Corporation Limited Power 1.34 Bharti Airtel Ltd. Telecom - Services 1.32 Vedanta Ltd. Non - Ferrous Metals 1.30 Asian Paints Ltd. Consumer Non Durables 1.27 Oil & Natural Gas Corporation Ltd. Oil 1.26 Hero MotoCorp Ltd. Auto 1.16 Tata Steel Limited. Ferrous Metals 1.12 Power Grid Corporation Of India Ltd Power 1.09 Bajaj Finance Limited Finance 1.05 Grasim Industries Ltd. Cement 1.04 Ultratech Cement Ltd. Cement 1.04 Indiabulls Housing Finance Ltd. Finance 1.01 Tech Mahindra Ltd. Software 1.01 Titan Company Ltd. Consumer Durables 0.99 Eicher Motors Ltd Auto 0.95 Indian Oil Corporation Ltd Petroleum Products 0.95 Bajaj Auto Ltd. Auto 0.94 Coal India Ltd. Minerals/Mining 0.93 Bharat Petroleum Corporation Ltd. Petroleum Products 0.84 Wipro Ltd. Software 0.80 Bajaj Finserv Ltd. Finance 0.79 Hindalco Industries Ltd Non - Ferrous Metals 0.79 Zee Entertainment Enterprises Ltd Media and Entertainment 0.79 Bharti Infratel Ltd. Telecom - Equipment & Accessories 0.72 Cipla Ltd. Pharmaceuticals 0.70 UPL Ltd Pesticides 0.67 Hindustan Petroleum Corporation Ltd Petroleum Products 0.65 Adani Port and Special Economic Zone Limited Transportation 0.63 Dr Reddys Laboratories Ltd Pharmaceuticals 0.63 GAIL (India) Ltd. Gas 0.54 Lupin Ltd. Pharmaceuticals 0.44 Listed/Awaiting Listing on Stock Exchange - Total Net Current /(Liabilities) 0.12 Kotak Nifty ETF NAV as on March 28, 2018: ` NAV SECTOR ALLOCATION (%) Banks Software Finance Petroleum Products Auto Consumer Non Durables Construction Project Pharmaceuticals Power Non - Ferrous Metals Others 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. Investing regularly can help your money grow, not savings alone 7* For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

46 KOTAK SENSEX ETF An Open Ended Exchange Traded Fund [Eligible scheme under Rajiv Gandhi Equity Savings (RGESS)] Fund Manager: Mr. Deepak Gupta* AAUM: ` crs : S&P BSE SENSEX AUM: ` crs Allotment date: June 6, 2008 The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of the BSE SENSEX subject to tracking errors. However, there is no assurance that the investment objective of the will be realized. Available Plan Regular Plan Ratios Portfolio Turnover: Tracking Error: Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Exit Load: Nil (applicable for all plans) Regular: 0.25% 14.26% 0.11% Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks HDFC Ltd. Finance 9.31 Reliance Industries Ltd. Petroleum Products 8.79 ITC Ltd. Consumer Non Durables 6.73 Infosys Ltd. Software 6.65 ICICI Bank Ltd. Banks 5.51 Larsen And Toubro Ltd. Construction Project 4.93 Tata Consultancy Services Ltd. Software 4.37 Kotak Mahindra Bank Ltd. Banks 3.82 Maruti Suzuki India Limited Auto 3.63 Hindustan Unilever Ltd. Consumer Non Durables 2.94 Axis Bank Ltd Banks 2.86 State Bank Of India Banks 2.86 IndusInd Bank Ltd. Banks 2.82 Mahindra & Mahindra Ltd. Auto 2.13 Tata Motors Ltd. Auto 1.90 Yes Bank Ltd Banks 1.72 Sun Pharmaceuticals Industries Ltd. Pharmaceuticals 1.65 National Thermal Power Corporation Limited Power 1.60 Asian Paints Ltd. Consumer Non Durables 1.56 Oil & Natural Gas Corporation Ltd. Oil 1.55 Hero MotoCorp Ltd. Auto 1.42 Bharti Airtel Ltd. Telecom - Services 1.38 Tata Steel Limited. Ferrous Metals 1.37 Power Grid Corporation Of India Ltd Power 1.31 Bajaj Auto Ltd. Auto 1.15 Coal India Ltd. Minerals/Mining 1.14 Wipro Ltd. Software 1.02 Adani Port and Special Economic Zone Limited Transportation 0.86 Dr Reddys Laboratories Ltd Pharmaceuticals 0.78 Tata Motors Ltd - DVR Auto 0.29 Listed/Awaiting Listing on Stock Exchange - Total Net Current /(Liabilities) 0.08 Kotak Sensex ETF NAV as on March 28, 2018: ` NAV SECTOR ALLOCATION (%) Banks Software Consumer Non Durables Auto Finance Petroleum Products Construction Project Power Pharmaceuticals Oil Others Try to learn from your mistakes - better yet, learn from the mistakes of others! 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. 7* For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 and fee GST. For scheme performance, please refer page no For last three dividends, please refer page no

47 KOTAK BANKING ETF An Open Ended Exchange Traded Fund Fund Manager: Mr. Deepak Gupta* : Nifty Bank Allotment date: December 04, 2014 AAUM: `3, crs AUM: `3, crs The investment objective of the scheme is to provide returns before expenses that closely correspond to the total returns of stocks as represented by the CNX Bank Index subject to tracking errors. There can be no assurance or guarantee that the investment objective of the scheme will be achieved. Available Plan/Options Regular Plan Option - Dividend Payout Ratios Portfolio Turnover: Tracking Error: Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Exit Load: Nil (applicable for all plans) Regular: 0.20% 25.40% 0.07% Equity & Equity related (Listed/Awaiting listing on Stock Exchange) HDFC Bank Ltd. Banks ICICI Bank Ltd. Banks Kotak Mahindra Bank Ltd. Banks State Bank Of India Banks 8.45 IndusInd Bank Ltd. Banks 8.35 Axis Bank Ltd Banks 7.53 Yes Bank Ltd Banks 5.12 Kotak Banking ETF NAV as on March 28, 2018: ` SECTOR ALLOCATION (%) NAV Federal Bank Ltd. Banks 1.60 Bank Of Baroda Banks 1.23 Punjab National Bank Banks 0.91 IDFC Bank Limited Banks 0.57 Listed/Awaiting Listing on Stock Exchange - Total Net Current /(Liabilities) Banks Others It is never your thinking that makes money, it is your investing in the market that makes money. 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. 7* For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

48 KOTAK PSU BANK ETF An Open Ended Exchange Traded Fund Fund Manager: Mr. Deepak Gupta* : Nifty PSU Bank Allotment date: November 8, 2007 AAUM: ` crs AUM: ` crs The investment objective of the scheme is to provide returns that closely correspond to the total returns of CNX PSU Bank Index, subject to tracking errors. However, there is no assurance that the investment objective of the will be realized. Available Plan Regular Plan Ratios Portfolio Turnover: Tracking Error: Through Exchange:1 Unit, Through AMC: Units, Ideal Investment Horizon: 3 years and above Exit Load: Nil (applicable for all plans) Regular: 0.49% % 0.24% Equity & Equity related (Listed/Awaiting listing on Stock Exchange) State Bank Of India Banks Bank Of Baroda Banks 9.59 Punjab National Bank Banks 7.09 Canara Bank Banks 3.82 Industrial Development Bank of India Ltd. Banks 2.72 Union Bank Of India Banks 2.52 Bank of India Banks 2.01 Kotak PSU Bank ETF NAV as on March 28, 2018: ` SECTOR ALLOCATION (%) NAV Indian Bank Banks 1.85 Syndicate Bank Banks 1.52 Oriental Bank of Commerce Banks 0.95 Allahabad Bank. Banks 0.85 Andhra Bank Banks 0.78 Listed/Awaiting Listing on Stock Exchange - Total Net Current /(Liabilities) Banks Others Time is a friend of a wonderful business, and enemy of the mediocre 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. 7* For Fund Manager experience, please refer page **Total Expense Ratio excludes applicable B15 fee and GST. For scheme performance, please refer page no For last three dividends, please refer page no

49 Performances as on March 28, 2018 Kotak 50 - Dividend Kotak 50 - Dividend Nifty 50 TRI# S&P BSE SENSEX TRI## Kotak 50 - Dividend Nifty 50 TRI# S&P BSE SENSEX TRI## Since Inception 19.11% 15.17% 14.07% 2,89,972 1,51,865 1,26,272 Last 1 Year 9.02% 11.76% 12.70% 10,902 11,176 11,270 Last 3 Years 7.30% 7.38% 7.14% 12,351 12,378 12,295 Last 5 Years 14.96% 13.63% 13.48% 20,090 18,954 18,823 Inception date is 29/12/1998. Mr. Harish Krishnan has been managing the fund since 01/01/2014 ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). 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 Kotak Classic Equity Fund - Growth Kotak Classic Equity Kotak Classic Equity Fund - Growth Nifty 100 TRI# Nifty 50 TRI## Fund - Growth Nifty 100 TRI# Nifty 50 TRI## Since Inception 13.02% 14.20% 13.71% 47,207 53,836 50,992 Last 1 Year 16.42% 12.22% 11.76% 11,642 11,222 11,176 Last 3 Years 9.39% 8.62% 7.38% 13,083 12,810 12,378 Last 5 Years 15.54% 14.97% 13.63% 20,598 20,091 18,954 Inception date is 27/07/2005. Mr. Deepak Gupta has been managing the fund since 01/01/2017. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Opportunities - Growth Kotak Opportunities - Kotak Opportunities - Growth Nifty 500 TRI# Nifty 50 TRI## Growth Nifty 500 TRI# Nifty 50 TRI## Since Inception 19.46% 16.10% 15.76% 1,11,365 75,659 72,691 Last 1 Year 9.25% 12.87% 11.76% 10,925 11,287 11,176 Last 3 Years 10.46% 9.83% 7.38% 13,470 13,240 12,378 Last 5 Years 19.26% 16.31% 13.63% 24,141 21,292 18,954 Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Select Focus Fund - Growth Kotak Select Focus Fund - Growth Nifty 200 TRI# Nifty 50 TRI## Kotak Select Focus Fund - Growth Nifty 200 TRI# Nifty 50 TRI## Since Inception 14.50% 11.08% 10.33% 31,817 24,547 23,166 Last 1 Year 10.70% 12.42% 11.76% 11,070 11,242 11,176 Last 3 Years 11.76% 9.09% 7.38% 13,949 12,974 12,378 Last 5 Years 21.16% 15.56% 13.63% 26,118 20,613 18,954 Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Tax Saver - Growth Kotak Tax Saver - Growth Nifty 500 TRI# Nifty 50 TRI## Kotak Tax Saver - Growth Nifty 500 TRI# Nifty 50 TRI## Since Inception 11.84% 13.13% 12.97% 39,826 45,900 45,075 Last 1 Year 6.25% 12.87% 11.76% 10,625 11,287 11,176 Last 3 Years 8.26% 9.83% 7.38% 12,684 13,240 12,378 Last 5 Years 16.89% 16.31% 13.63% 21,831 21,292 18,954 Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI)

50 Kotak Midcap - Growth Kotak Midcap - Nifty Free Float Kotak Midcap - Nifty Free Float Growth Midcap 100 TRI# Nifty 50 TRI## Growth Midcap 100 TRI# Nifty 50 TRI## Since Inception 16.89% 16.73% 14.36% 77,240 75,801 57,967 Last 1 Year 10.97% 10.25% 11.76% 11,097 11,025 11,176 Last 3 Years 14.75% 14.39% 7.38% 15,098 14,958 12,378 Last 5 Years 24.30% 21.96% 13.63% 29,692 26,995 18,954 Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Emerging Equity - Growth S&P BSE MidSmall Cap TRI# Kotak Emerging Equity - Growth Nifty 50 TRI## Kotak Emerging Equity - Growth S&P BSE MidSmall Cap TRI# Nifty 50 TRI## Since Inception 13.16% 13.46% 10.54% 38,992 40,137 30,104 Last 1 Year 11.01% 16.75% 11.76% 11,101 11,675 11,176 Last 3 Years 14.86% 15.99% 7.38% 15,140 15,592 12,378 Last 5 Years 26.57% 22.73% 13.63% 32,504 27,858 18,954 Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Infrastructure and Economic Reform Fund - Growth Kotak Infrastructure and S&P BSE 100 TRI# Nifty 50 TRI## Kotak Infrastructure and Economic Reform Fund - Growth Economic Reform Fund - Growth S&P BSE 100 TRI# Nifty 50 TRI## Since Inception 7.77% 8.25% 8.08% 21,280 22,265 21,908 Last 1 Year 10.15% 12.12% 11.76% 11,015 11,212 11,176 Last 3 Years 10.72% 8.39% 7.38% 13,565 12,730 12,378 Last 5 Years 21.78% 14.73% 13.63% 26,798 19,884 18,954 Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 01/02/2015. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Balance Kotak Balance CRISIL Hybrid 35 + Kotak Emerging CRISIL Hybrid Aggressive Index # Nifty 50 TRI## Equity - Growth 65 - Aggressive Index # Nifty 50 TRI## Since Inception 14.67% NA 12.91% 1,23,244 NA 92,837 Last 1 Year 6.27% 9.96% 11.76% 10,627 10,996 11,176 Last 3 Years 8.39% 9.12% 7.38% 12,728 12,987 12,378 Last 5 Years 12.77% 13.46% 13.63% 18,245 18,810 18,954 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. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The existing benchmark CRISIL Balanced Fund has been renamed as CRISIL Hybrid Aggressive Index as per communication received from CRISIL TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the 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 7.56% NA 12.80% 24,861 NA 45,052 Last 1 Year 6.15% 4.36% 11.76% 10,615 10,436 11,176 Last 3 Years 6.44% 5.65% 7.38% 12,054 11,788 12,378 Last 5 Years 7.48% 6.83% 13.63% 14,345 13,917 18,954 Inception date is 29/09/2005. Mr. Deepak Gupta has been managing the fund since 01/09/2008. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI)

51 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 8.35% 7.00% 8.77% 13,197 12,634 13,372 Last 1 Year 8.31% 6.26% 11.76% 10,831 10,626 11,176 Last 3 Years 7.47% 6.26% 7.38% 12,406 11,994 12,378 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. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak India Growth Fund - Series 1 - Regular Plan - Growth Kotak India Growth Fund - Kotak India Growth Fund - Nifty 200 TRI# Nifty 50 TRI## Series 1 - Regular Plan - Growth Series 1 - Regular Plan - Growth Nifty 200 TRI# Nifty 50 TRI## Since Inception 8.49% 11.12% 9.42% 12,663 13,569 12,979 Last 1 Year 7.74% 12.42% 11.76% 10,774 11,242 11,176 Inception date is 06/05/2015. Mr. Harish Krishnan has been managing the fund since 06/05/2015 ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional.TRI Total Return Index. With effect from 1st February 2018, we are comparing the performances of the funds with the total return variant of the benchmark instead of the price return variant. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Liquid - Regular Plan - Growth Kotak Liquid - Regular Plan - CRISIL Liquid Fund# Kotak Liquid - Regular Plan - CRISIL 1 Year TBill## CRISIL Liquid Fund#CRISIL 1 Year TBill## Growth Growth Since Inception 7.44% 6.95% 5.96% 28,151 26,348 23,042 Last 1 Year 6.75% 6.84% 5.92% 10,675 10,684 10,592 Last 3 Years 7.38% 7.33% 6.91% 12,384 12,367 12,223 Last 5 Years 8.10% 8.08% 7.05% 14,773 14,763 14,067 Inception date is 04/11/2003. Mr. Deepak Agrawal has been managing the fund since 01/05/2007. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Floater - Short Term - Growth Kotak Floater - Short Term - Kotak Floater - Short Term - Growth CRISIL Liquid Fund# CRISIL 1 Year TBill## Growth CRISIL Liquid Fund CRISIL 1 Year TBill Since Inception 7.36% 6.89% 5.95% 28,446 26,685 23,412 Last 1 Year 6.79% 6.84% 5.92% 10,679 10,684 10,592 Last 3 Years 7.45% 7.33% 6.91% 12,407 12,367 12,223 Last 5 Years 8.15% 8.08% 7.05% 14,811 14,763 14,067 Inception date is 14/07/2003. Mr. Deepak Agrawal has been managing the fund since 01/11/2006. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Treasury Advantage Fund - Growth Kotak Treasury Advantage CRISIL Liquid Fund# Kotak Treasury Advantage CRISIL 1 Year TBill## Fund - Growth Fund - Growth CRISIL Liquid Fund# CRISIL 1 Year TBill## Since Inception 7.78% 7.12% 6.07% 27,777 25,550 22,331 Last 1 Year 6.67% 6.79% 5.87% 10,667 10,679 10,587 Last 3 Years 7.66% 7.33% 6.91% 12,473 12,360 12,217 Last 5 Years 8.27% 8.09% 7.05% 14,881 14,755 14,060 Inception date is 13/08/2004. Mr. Deepak Agrawal has been managing the fund since 01/04/2008. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. 47

52 Kotak Banking and PSU Debt Fund - Growth Kotak Banking and PSU Debt CRISIL Short Term Kotak Banking and PSU Debt CRISIL Short Term CRISIL 1 Year TBill## Fund - Growth Bond Fund# Fund - Growth Bond Fund# CRISIL 1 Year TBill## Since Inception 7.36% NA 6.63% 39,252 NA 34,442 Last 1 Year 6.54% 6.11% 5.87% 10,654 10,611 10,587 Last 3 Years 8.07% 7.90% 6.91% 12,617 12,558 12,217 Last 5 Years 8.72% 8.56% 7.05% 15,193 15,082 14,060 Inception date is 29/12/1998. Mr. Deepak Agrawal has been managing the fund since 01/08/2008. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Duration Fund - Growth Kotak Duration Fund - Growth CRISIL Liquid Fund# Kotak Duration Fund - CRISIL 1 Year TBill## CRISIL Liquid Fund# CRISIL 1 Year TBill## Growth Since Inception 7.76% 7.58% 6.46% 21,217 20,869 18,783 Last 1 Year 7.02% 6.79% 5.87% 10,702 10,679 10,587 Last 3 Years 8.28% 7.33% 6.91% 12,690 12,360 12,217 Last 5 Years 8.33% 8.09% 7.05% 14,923 14,755 14,060 Inception date is 06/03/2008. Mr. Deepak Agrawal has been managing the fund since 01/02/2015. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Bond Short Term Plan - Growth Kotak Bond Short Term Plan - CRISIL Short Term Kotak Bond Short Term Plan - CRISIL Short Term CRISIL 1 Year TBill## Growth Bond Fund# Growth Bond Fund# CRISIL 1 Year TBill## Since Inception 7.67% 7.22% 5.98% 32,421 30,314 25,197 Last 1 Year 5.48% 6.11% 5.87% 10,548 10,611 10,587 Last 3 Years 7.50% 7.90% 6.91% 12,419 12,558 12,217 Last 5 Years 7.94% 8.56% 7.05% 14,659 15,082 14,060 Inception date is 02/05/2002. Mr. Deepak Agrawal has been managing the fund since 11/07/2007. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Flexi Debt - Regular Plan - Growth Kotak Flexi Debt - Regular CRISIL Composite Kotak Flexi Debt - Regular CRISIL Composite CRISIL 1 Year TBill## Plan - Growth Bond Fund# Plan - Growth Bond Fund# CRISIL 1 Year TBill## Since Inception 8.48% 7.83% 6.46% 22,282 20,996 18,519 Last 1 Year 6.17% 5.06% 5.87% 10,617 10,506 10,587 Last 3 Years 8.57% 8.12% 6.91% 12,791 12,632 12,217 Last 5 Years 8.99% 8.60% 7.05% 15,380 15,110 14,060 Inception date is 26/05/2008. Mr. Deepak Agrawal has been managing the fund since 25/11/2012. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Income Opportunities Fund - Growth Kotak Income Opportunities Fund - Growth CRISIL Short Term Bond Fund# CRISIL 1 Year TBill## Kotak Income Opportunities Fund - Growth CRISIL Short Term Bond Fund# CRISIL 1 Year TBill## Since Inception 8.56% 8.17% 6.77% 19,115 18,577 16,757 Last 1 Year 6.52% 6.11% 5.87% 10,652 10,611 10,587 Last 3 Years 8.55% 7.90% 6.91% 12,786 12,558 12,217 Last 5 Years 8.82% 8.56% 7.05% 15,264 15,082 14,060 Inception date is 11/05/2010. Mr. Deepak Agrawal has been managing the fund since 12/04/2010. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. 48

53 Kotak Corporate Bond Fund - Growth Kotak Corporate Bond Fund - Growth CRISIL Composite Bond Fund# CRISIL 1 Year TBill## Kotak Corporate Bond Fund - Growth CRISIL Composite Bond Fund# CRISIL 1 Year TBill## Since Inception 8.15% 7.75% 6.42% 22,812 21,929 19,246 Last 1 Year 6.77% 5.06% 5.87% 10,677 10,506 10,587 Last 3 Years 7.98% 8.12% 6.91% 12,584 12,632 12,217 Last 5 Years 8.29% 8.60% 7.05% 14,894 15,110 14,060 Inception date is 21/09/2007. Mr. Deepak Agrawal has been managing the fund since 01/02/2015. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Medium Term Fund - Regular Plan - Growth Kotak Medium Term Fund - Regular Plan - Growth CRISIL Composite Bond Fund# CRISIL 10 Year Gilt## Kotak Medium Term Fund - Regular Plan - Growth CRISIL Composite Bond Fund# CRISIL 10 Year Gilt## Since Inception 9.54% 9.75% 8.35% 14,425 14,535 13,804 Last 1 Year 6.55% 5.06% -0.42% 10,655 10,506 9,958 Last 3 Years 8.71% 8.12% 6.36% 12,843 12,632 12,029 Inception date is 21/03/2014. Mr. Deepak Agrawal has been managing the fund since 22/06/2015. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Bond - Regular Plan - Growth Kotak Bond - Regular CRISIL Composite Kotak Bond - Regular CRISIL Composite CRISIL 10 Year Gilt## Plan - Growth Bond Fund# Plan - Growth Bond Fund# CRISIL 10 Year Gilt## Since Inception 8.87% NA NA 47,543 NA NA Last 1 Year 2.70% 5.06% -0.42% 10,270 10,506 9,958 Last 3 Years 6.01% 8.12% 6.36% 11,909 12,632 12,029 Last 5 Years 7.01% 8.60% 6.42% 14,034 15,110 13,649 Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Gilt - Investment - Regular - Growth Kotak Gilt - Investment - Regular - Growth I-SEC Composite Gilt Index# CRISIL 10 Year Gilt## Kotak Gilt - Investment - Regular - Growth I-SEC Composite Gilt Index# CRISIL 10 Year Gilt## Since Inception 9.58% NA NA 58,242 #VALUE! NA Last 1 Year 3.34% 5.06% -0.42% 10,334 10,506 9,958 Last 3 Years 6.80% 8.05% 6.36% 12,179 12,610 12,029 Last 5 Years 7.48% 8.68% 6.42% 14,344 15,162 13,649 Inception date is 29/12/1998. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. Kotak Gilt - Investment - PF and Trust - Growth Kotak Gilt - Investment - PF I-SEC Composite Kotak Gilt - Investment - PF I-SEC Composite CRISIL 10 Year Gilt## and Trust - Growth Gilt Index# and Trust - Growth Gilt Index# CRISIL 10 Year Gilt## Since Inception 7.30% 7.35% 5.28% 27,548 27,746 20,967 Last 1 Year 3.34% 5.06% -0.42% 10,334 10,506 9,958 Last 3 Years 6.84% 8.05% 6.36% 12,193 12,610 12,029 Last 5 Years 7.52% 8.68% 6.42% 14,370 15,162 13,649 Inception date is 11/11/2003. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The performance of the scheme is benchmarked to the Total Return variant (TRI) of the. 49

54 Kotak Monthly Income Plan - Growth Kotak Monthly Income CRISIL Hybrid 85 + Kotak Monthly Income CRISIL Hybrid 85 + Plan - Growth 15 - Conservative Index # CRISIL 10 Year Gilt## CRISIL 10 Year Gilt## Plan - Growth 15 - Conservative Index # Since Inception 7.87% 8.27% 5.35% 29,627 31,225 21,114 Last 1 Year 5.86% 6.21% -0.42% 10,586 10,621 9,958 Last 3 Years 8.31% 8.42% 6.36% 12,701 12,739 12,029 Last 5 Years 10.23% 9.78% 6.42% 16,277 15,952 13,649 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. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The existing benchmark CRISIL MIP Blended has been renamed as CRISIL Hybrid Conservative Index as per communication received from CRISIL. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug 2006 Kotak Asset Allocator Fund - Growth Kotak Asset Allocator Fund - Growth CRISIL Hybrid Aggressive Index # S&P BSE SENSEX TRI## Kotak Asset Allocator Fund - Growth CRISIL Hybrid Aggressive Index # S&P BSE SENSEX TRI## Since Inception 15.99% 13.43% 15.75% 75,634 55,761 73,504 Last 1 Year 5.92% 9.96% 12.70% 10,592 10,996 11,270 Last 3 Years 8.75% 9.12% 7.14% 12,856 12,987 12,295 Last 5 Years 15.79% 13.46% 13.48% 20,826 18,810 18,823 Inception date is 09/08/2004. Mr. Deepak Gupta has been managing the fund since 01/09/2008. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. The existing benchmark CRISIL Balanced Fund has been renamed as CRISIL Hybrid Aggressive Index as per communication received from CRISIL. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the 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 9.21% 12.38% 13.20% 14,567 16,462 16,979 Last 1 Year 10.62% 12.92% 11.76% 11,062 11,292 11,176 Last 3 Years 8.72% 11.94% 7.38% 12,845 14,019 12,378 Inception date is 20/12/2013. Mr. Deepak Gupta has been managing the fund since 01/02/2015. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Global Emerging Market Fund - Growth Kotak Global Emerging Market Fund - Growth MSCI Emerging Market index# Nifty 50 TRI## Kotak Global Emerging Market Fund - Growth MSCI Emerging Market index# Nifty 50 TRI## Since Inception 5.08% 4.67% 8.30% 16,832 16,152 23,125 Last 1 Year 23.19% 21.84% 11.76% 12,319 12,184 11,176 Last 3 Years 5.53% 7.66% 7.38% 11,748 12,473 12,378 Last 5 Years 6.60% 6.12% 13.63% 13,765 13,462 18,954 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. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak World Gold Fund - Growth Kotak World Gold Fund - Financial Times Gold Mines Nifty 50 TRI## Kotak World Gold Fund - Financial Times Gold Mines Growth Total - Price# Growth Total - Price# Nifty 50 TRI## Since Inception -1.93% -2.17% 9.59% 8,257 8,064 24,574 Last 1 Year % -5.16% 11.76% 8,974 9,484 11,176 Last 3 Years 3.47% 10.87% 7.38% 11,076 13,620 12,378 Last 5 Years -6.61% -5.09% 13.63% 7,104 7,702 18,954 Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 01/02/2015. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). 50

55 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 3.62% 5.61% 6.53% 12,830 14,667 15,580 Last 1 Year 4.91% 6.72% -0.42% 10,491 10,672 9,958 Last 3 Years 3.36% 5.41% 6.36% 11,040 11,710 12,029 Last 5 Years -1.12% 0.58% 6.42% 9,453 10,295 13,649 Inception date is 27/07/2007. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Nifty ETF Kotak Nifty ETF Nifty 50 TRI# S&P BSE SENSEX TRI## Kotak Nifty ETF Nifty 50 TRI# S&P BSE SENSEX TRI## Since Inception 10.86% 11.04% 10.97% 23,142 23,452 23,323 Last 1 Year 11.58% 11.76% 12.70% 11,158 11,176 11,270 Last 3 Years 7.33% 7.38% 7.14% 12,358 12,378 12,295 Last 5 Years 13.54% 13.63% 13.48% 18,874 18,954 18,823 Inception date is 08/02/2010. Mr. Deepak Gupta has been managing the fund since 25/02/2011. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Sensex ETF Kotak Sensex ETF S&P BSE SENSEX TRI# Nifty 50 TRI## Kotak Sensex ETF S&P BSE SENSEX TRI# Nifty 50 TRI## Since Inception 9.03% 9.52% 9.59% 23,354 24,407 24,574 Last 1 Year 12.37% 12.70% 11.76% 11,237 11,270 11,176 Last 3 Years 6.81% 7.14% 7.38% 12,182 12,295 12,378 Last 5 Years 13.09% 13.48% 13.63% 18,501 18,823 18,954 Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 25/02/2011. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak Banking ETF Kotak Banking ETF Nifty Bank TRI# Nifty 50 TRI## Kotak Banking ETF Nifty Bank TRI# Nifty 50 TRI## Since Inception 9.26% 9.44% 7.28% 13,395 13,465 12,608 Last 1 Year 13.69% 13.88% 11.76% 11,369 11,388 11,176 Last 3 Years 10.80% 10.96% 7.38% 13,595 13,655 12,378 Inception date is 10/12/2014. Mr. Deepak Gupta has been managing the fund since 24/11/2014. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Kotak PSU Bank ETF Kotak PSU Bank ETF Nifty PSU Bank TRI# Nifty 50 TRI## Kotak PSU Bank ETF Nifty PSU Bank TRI# Nifty 50 TRI## Since Inception 1.66% 1.62% 6.92% 11,860 11,817 20,038 Last 1 Year % % 11.76% 8,180 8,216 11,176 Last 3 Years -4.96% -4.58% 7.38% 8,588 8,690 12,378 Last 5 Years -0.03% 0.26% 13.63% 9,984 10,131 18,954 Inception date is 08/11/2007. Mr. Deepak Gupta has been managing the fund since 25/02/2011. ^Past performance may or may not be sustained in future.*all payouts during the period have been reinvested in the units of the scheme at the then prevailing NAV. Returns >= 1 year: CAGR (Compounded Annualised Growth Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of 10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of. ## Name of Additional. TRI Total Return Index, In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). 51

56 ABOUT OUR FUND MANAGERS Name: Mr. Harsha Upadhyaya Mr. Harsha Upadhyaya 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 Opportunities (Aug 4, 12), Kotak Select Focus Fund (Aug 4, 12), Kotak Tax Saver (Aug. 25,'15) 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 Select Focus Fund - Growth Kotak Opportunities - Growth Kotak Tax Saver - Growth Kotak India Growth Fund Series 4 Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Since the scheme has not yet completed 1 year from inception, the performance of the scheme is not being disclosed. Kotak Select Focus Fund - Growth, *Name of the - Nifty 200 TRI, Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Kotak Opportunities - Growth, *Name of the - Nifty 500 TRI, Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Kotak Tax Saver - Growth, *Name of the - Nifty 500 TRI, Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015. Kotak India Growth Fund Series 4, *Name of the Nifty 200-TRI, inception date is 20/02/2018. Mr. Harsha Upadhyaya has been managing the fund since 20/02/2018. Mr. Devender Singhal has been managing the fund since 19/03/2018. TRI Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Name: Mr. Harish Krishnan Mr. Harish Krishnan manages 3 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak 50 (Jan 01, 14), Kotak Infrastructure & Economic Reform Fund (Jan31,'15), Kotak India Growth Fund Series I (May 06, 15). 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. 1 YEAR 3 YEAR 5 YEAR Since Inception Names Kotak Infrastructure and Economic Reform Fund - Growth Kotak 50 - Dividend Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak India Growth Fund - Series 1 - Regular Plan - Growth NA NA NA NA Kotak Infrastructure and Economic Reform Fund - Growth, *Name of the - S&P BSE 100 TRI, Inception date is 25/02/2008. Mr. Harish Krishnan has been managing the fund since 31/01/2015. Kotak 50 - Dividend, *Name of the - Nifty 50 TRI, Inception date is 29/12/1998. Mr. Harish Krishnan has been managing the fund since 15/11/2013. Kotak India Growth Fund - Series 1 - Regular Plan - Growth, *Name of the - Nifty 200 TRI, Inception date is 06/05/2015. Mr. Harish Krishnan has been managing the fund since 06/05/2015 TRI Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). For Kotak 50 Fund : As TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE Sensex PRI values from 29th Dec 1998 to to 31st May 2007 and TRI Values from 31st May 2007 to 31st Jan 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 Midcap (Jan. 21, 10), Kotak Emerging Equity (May 27,'10), Kotak Balance (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. 1 YEAR 3 YEAR 5 YEAR Since Inception Names Kotak Emerging Equity - Growth Kotak Midcap - Growth Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Kotak Balance - Dividend NA Kotak Emerging Equity - Growth, *Name of the - S&P BSE MidSmallCap TRI, Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010. Kotak Midcap - Growth, *Name of the - Nifty Free Float Midcap 100 TRI, Inception date is 24/02/2005. Mr. Pankaj Tibrewal has been managing the fund since 21/01/2010. Kotak Balance - Dividend, *Name of the - CRISIL Hybrid Aggressive 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. TRI Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). For Kotak Balance Fund: The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug Name: Mr. Deepak Gupta Mr. Deepak Gupta manages 13 funds of Kotak Mahindra Mutual Fund. Different plans shall have a different expense structure. The performance details provided herein are of regular plan. Kotak Equity Arbitrage (Sept.1, 08), Kotak Asset Allocator Fund (Sept.1, 08), Kotak Global Emerging Market Fund (Apr.4, 11), (Dedicated fund manager for over seas investment), Kotak Balance (Aug. 25,'15), Kotak Equity Savings Fund (Oct. 13, '14), Kotak World Gold Fund (Jan.31, 15), Kotak US Equity Fund (Jan.31, 15), Kotak PSU Bank ETF (Nov. 8, 07), Kotak SENSEX ETF (Jun. 6, 08), Kotak NIFTY ETF (Feb. 8, 10), Kotak Banking ETF (Dec. 11, 14), Kotak Classic Equity (Jan. 1, '17). Business 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. Names Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Top 3 Bottom 3 Kotak Global Emerging Market Fund - Growth Kotak Classic Equity Fund - Growth Kotak NV20 ETF Kotak Asset Allocator Fund - Growth Kotak World Gold Fund - Growth Kotak PSU Bank ETF NA NA NA NA

57 Kotak Global Emerging Market Fund - Growth, *Name of the - MSCI Emerging Market index, Inception date is 26/09/2007. Mr. Deepak Gupta has been managing the fund since 04/04/2011(Dedicated fund manager for overseas investment) and Mr. Abhishek Bisen has been managing the fund since 04/04/2011. Kotak Classic Equity Fund - Growth, *Name of the - Nifty 100 TRI, Inception date is 27/07/2005. Mr. Deepak Gupta has been managing the fund since 01/01/2017. Kotak NV20 ETF - *Name of the Nifty 50 Value 20 TRI, Inception date is 01/12/2015. Mr. Deepak Gupta has been managing the fund since 08/12/2015. Kotak Asset Allocator Fund - Growth, *Name of the - CRISIL Hybrid Aggressive Index, Inception date is 09/08/2004. Mr. Deepak Gupta has been managing the fund since 01/09/2008. Kotak World Gold Fund - Growth, *Name of the - Financial Times Gold Mines Total - Price, Inception date is 06/06/2008. Mr. Deepak Gupta has been managing the fund since 01/02/2015. Kotak PSU Bank ETF, *Name of the - Nifty PSU Bank TRI, Inception date is 08/11/2007. Mr. Deepak Gupta has been managing the fund since 25/02/2011. TRI Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). Name: Mr. Abhishek Bisen Mr. Abhishek Bisen manages 9 funds 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 Monthly Income Plan (Apr. 15, 08), Kotak Bond (Regular Plan) (Apr. 15, 08), Kotak Gilt Investment (Regular & PF-Trust) (Apr. 15, 08), Kotak Global Emerging Market Fund (Apr. 15, 08), Kotak Equity Savings Fund (Oct. 13, '14), Kotak Gold ETF (Jul. 27, 07), Kotak Gold Fund (Mar. 25, '11) Business 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 Balance - Dividend Kotak Gold Fund - Growth Kotak Gilt - Investment - Regular - Growth Kotak Bond - Regular Plan - Growth Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* NA NA NA NA NA Kotak Global Emerging Market Fund - Growth, *Name of the - MSCI Emerging Market index, Inception date is 26/09/2007. Mr. Deepak Gupta has been managing the fund since 04/04/2011(Dedicated fund manager for overseas investment) and Mr. Abhishek Bisen has been managing the fund since 04/04/2011. Kotak Equity Savings Fund - Growth, *Name of the - 75% NIFTY 50 ARBITRAGE + 25% Nifty 50 TRI, Inception date is 13/10/2014. Mr. Deepak Gupta has been managing the fund since 17/09/2014. Mr. Abhishek Bisen has been managing the fund since 17/09/2014. Kotak Balance - Dividend, *Name of the - CRISIL Hybrid Aggressive 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 Fund - Growth, *Name of the - Price of Gold, Inception date is 25/03/2011. Mr. Abhishek Bisen has been managing the fund since 04/03/2011. Kotak Gilt - Investment - Regular - Growth, *Name of the - I-SEC Composite Gilt Index, Inception date is 29/12/1998. Mr. Abhishek Bisen has been managing the fund since 15/04/2008. Kotak Bond - Regular Plan - Growth, *Name of the - CRISIL Composite Bond Fund, Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. 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 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), Kotak Flexi Debt (Jul. 11, 07), Kotak Floater Short Term (Nov. 25, 07), Kotak Liquid (Jul. 11, 12), Kotak Kotak Banking and PSU Debt Fund (Apr. 14, 08), Kotak Treasury Advantage Fund (Formerly Known as Kotak Floater Long Term ) (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 Duration Fund - Growth Kotak Floater - Short Term - Growth Kotak Corporate Bond Fund - Growth Kotak Income Opportunities Fund - Growth Kotak Flexi Debt - Regular Plan - Growth Kotak Bond Short Term Plan - Growth Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Kotak Duration Fund - Growth, *Name of the - CRISIL Liquid Fund, Inception date is 06/03/2008. Mr. Deepak Agrawal has been managing the fund since 01/02/2015. Kotak Floater - Short Term - Growth, *Name of the - CRISIL Liquid Fund, Inception date is 14/07/2003. Mr. Deepak Agrawal has been managing the fund since 01/11/2006. Kotak Corporate Bond Fund - Growth, *Name of the - CRISIL Composite Bond Fund, Inception date is 21/09/2007. Mr. Deepak Agrawal has been managing the fund since 01/02/2015. Kotak Income Opportunities Fund - Growth, *Name of the - CRISIL Short Term Bond Fund, Inception date is 11/05/2010. Mr. Deepak Agrawal has been managing the fund since 12/04/2010. Kotak Flexi Debt - Regular Plan - Growth, *Name of the - CRISIL Composite Bond Fund, Inception date is 26/05/2008. Mr. Deepak Agrawal has been managing the fund since 25/11/2012. Kotak Bond Short Term Plan - Growth, *Name of the - CRISIL Short Term Bond Fund, Inception date is 02/05/2002. Mr. Deepak Agrawal has been managing the fund since 11/07/2007. We are comparing the performances of the funds with the total return Index(TRI) Returns (%)^* 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 Monthly Income Plan (Aug. 25, 15) 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 Monthly Income Plan - Growth Kotak India Growth Fund Series 4 Returns(%)^ 1 YEAR 3 YEAR 5 YEAR Since Inception Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Returns(%)^ Returns (%)^* Since the scheme has not yet completed 1 year from inception, the performance of the scheme is not being disclosed. Kotak Monthly Income Plan - Growth, *Name of the - CRISIL Hybrid Conservative Index, Inception date is 02/12/2003. Mr. Abhishek Bisen has been managing the fund since 01/04/2008. Mr. Devender Singhal has been managing the fund since 25/08/2015. Kotak India Growth Fund Series 4, *Name of the Nifty 200-TRI, inception date is 20/02/2018. Mr. Harsha Upadhyaya has been managing the fund since 20/02/2018. Mr. Devender Singhal has been managing the fund since 19/03/2018. TRI Total Return Index. In terms of SEBI circular dated January 4, 2018, the performance of the scheme is benchmarked to the Total Return variant (TRI) of the Index instead of Price Return Variant (PRI). The debt component of the index is TRI since inception. For equity component of the index, as TRI data is not available since inception of the scheme, benchmark performance is calculated using composite CAGR of 55 S&P BSE 200 PRI values series is used till 31st July 2006 and TRI values is used since 1st Aug

58 DIVIDEND HISTORY Equity s Kotak Equity Arbitrage Fund - Monthly Dividend Option Record Date Cum Dividend NAV `/Unit Mar Feb Jan Kotak Equity Arbitrage Fund - Fortnightly Dividend Option Record Date Cum Dividend NAV `/Unit Mar Mar Feb Kotak Equity Arbitrage Fund - Bimonthly Dividend Record Date Cum Dividend NAV `/Unit Mar Jan Nov Kotak 50 - Dividend Record Date Cum Dividend NAV `/Unit Mar Jun Dec Kotak Classic Equity Record Date Cum Dividend NAV `/Unit Mar Jul Jul Kotak Opportunities Record Date Cum Dividend NAV `/Unit Feb Nov Aug Kotak Select Focus Record Date Cum Dividend NAV `/Unit Sep Sep Oct Kotak Equity Saving Fund - Monthly Dividend Option Record Date Cum Dividend NAV `/Unit Mar Feb Jan Kotak Equity Saving Fund - Quarterly Dividend Record Date Cum Dividend NAV `/Unit Mar Dec Sep Kotak Infrastructure and Economic Reform Record Date Cum Dividend NAV `/Unit Feb Feb Hybrid s Kotak Balance Record Date Cum Dividend NAV `/Unit Mar Feb Jan Kotak Monthly Income Plan - Monthly Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Feb Individual/ HUF: Others: Jan Individual/ HUF: Others: Kotak Midcap Record Date Cum Dividend NAV `/Unit Feb Feb Feb Kotak Tax Saver Record Date Cum Dividend NAV `/Unit Mar Dec Sep Kotak Emerging Equity Mar May May Kotak Monthly Income Plan - Quarterly Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Sep Individual/ HUF: Others: ETF s Kotak PSU Bank ETF Record Date Cum Dividend NAV `/Unit Kotak SENSEX ETF Record Date Cum Dividend NAV `/Unit Mar Nov Record Date Cum Dividend NAV `/Unit Mar Nov Kotak Asset Allocator Fund (Earlier Know as Kotak Equity FOF) Record Date Cum Dividend NAV `/Unit Aug Individual/ HUF: Others: Kotak Nifty ETF Record Date Cum Dividend NAV `/Unit Mar May Nov

59 DEBT s Kotak-Bond Regular Plan- Quarterly Dividend Option Record Date Cum Dividend NAV `/Unit Sep Individual/ HUF: Others: Jun Individual/ HUF: Others: Mar Individual/ HUF: Others: Kotak Bond Regular Plan-Annual Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Kotak Bond Short Term - Monthly Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Feb Individual/ HUF: Others: Jan Individual/ HUF: Others: Kotak Bond Short Term-Half Yearly Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Sep Individual/ HUF: Others: Sep Individual/ HUF: Others: Kotak Income Opportunities Fund-Annual Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Kotak Income Opportunities Fund-Monthly Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Feb Individual/ HUF: Others: Jan Individual/ HUF: Others: Debt s Kotak Treasury Advantage Fund-Monthly Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Feb Individual/ HUF: Others: Jan Individual/ HUF: Others: Kotak Flexi Debt Regular Plan-Monthly Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Feb Individual/ HUF: Others: Dec Individual/ HUF: Others: Kotak Flexi Debt Regular Plan-Quarterly Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Sep Individual/ HUF: Others: Kotak Corporate Bond Fund-Regular Plan Monthly Dividend Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Feb Individual/ HUF: Others: Jan Individual/ HUF: Others: Kotak Corporate Bond Fund-Regular Quarterly Dividend Record Date Cum Dividend NAV `/Unit Jun Individual/ HUF: Others: Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Kotak Gilt Investment Regular Plan-Quarterly Dividend Record Date Cum Dividend NAV `/Unit Jun Individual/ HUF: Others: Mar Individual/ HUF: Others: Dec Individual/ HUF: Others:

60 DEBT s Kotak Income Opportunities Fund-Quarterly Dividend Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Sep Individual/ HUF: Others: Debt s Kotak Gilt Investment PF and Trust Plan- Quarterly Dividend Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit Mar Jun Individual/ HUF: Others: Mar Individual/ HUF: Others: Kotak Floater Short Term-Monthly Dividend Mar Individual/ HUF: Others: Feb Individual/ HUF: Others: Jan Individual/ HUF: Others: Kotak Banking and PSU Debt Fund-Monthly Dividend Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Feb Individual/ HUF: Others: Jan Individual/ HUF: Others: Kotak Banking and PSU Debt Fund-Annual Dividend Kotak Medium Term Fund-Quarterly Dividend Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Mar Individual/ HUF: Others: Dec Individual/ HUF: Others: Sep Individual/ HUF: Others: Kotak Duration Fund-Regular Plan Monthly Dividend Mar Individual/ HUF: Others: Feb Individual/ HUF: Others: Jan Individual/ HUF: Others: Kotak Medium Term Fund-Annual Dividend Record Date Cum Dividend NAV `/Unit Record Date Cum Dividend NAV `/Unit 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. 56

61 RISK FACTORS Mutual Fund investments are subject to market risks, read all scheme related documents carefully. *The rating indicates highest degree of safety regarding timely receipt of payments from the investments that the has made. The ratings should, however, not be construed as an indication of expected returns, prospective performance of the Mutual Fund, NAV or of volatility in its returns. Disclaimer on market outlooks: The outlook provided is only a subjective understanding of an uncertain market phenomena, which may or may not occur, and may also not have any effect on the performance of the scheme, clement or otherwise. This outlook should not be construed as a reason for investment into the scheme based on prospect of future performance, which may not accrue as anticipated by the statement. How to read Fact Sheet Fund Manager An employee of the asset management company such as mutual fund or life insurer, who manages investments of the scheme. He is usually part of larger team of fund managers and research analysts. Application amount for fresh subscription This is the minimum investment amount for a new investor in a mutual fund scheme Minimum Additional Amount This is the minimum investment amount for an existing investor in a mutual fund scheme Yield to Maturity The yield to maturity or the YTM is the rate of return anticipated on a bond if held until maturity. YTM is expressed as an annual rate. The YTM factors in the bond s current market price, par value, couple interest rate and time to maturity SIP SIP or systematic investment plan works on the principle of making periodic investments of a fixed sum. It works similar to a recurring bank deposit. For instance, an investor may opt for an SIP that invests Rs 500 every 15th of the month in an equity fund for a period of three years. NAV The NAV or net asset value is the total asset value per unit of the mutual fund after deducting all related and permissible expenses. The NAV is calculated at the end of every business day. It is the value at which investors enter or exit the mutual fund A group of securities, usually a market index, whose performance is used as a standard or benchmark to measure investment performance of mutual funds, among other investments. Some typical benchmark include the Nifty, Sensex, BSE 200, BSE 500, 10-year Gsec Entry Load A mutual fund may have a sales charge or load at the time of entry and/or exit to compensate the distributor /agent. Entry load is charged at the time an investor purchases the units of a mutual fund. The entry load is added to the prevailing NAV at the time of investment. For instance, if the NAV is Rs 100 and the entry load is 1%, the investor will enter the fund at Rs 101. Note: SEBI, vide circular dated June 30, 2009 has abolished entry load and mandated that the upfront commission to distributors will be paid by the investor directly to the distributor, based on his assessment of various factors including the service rendered by the distributor. Exit load Exit load is charged at the time an investor redeems the units of a mutual fund. The exit load is deducted from the prevailing NAV at the time of redemption. For instance, if the NAV is RS 100and an exit load is 1%, the redemption price would be Rs. 99 per unit Modified Duration Modified duration is the price sensitivity and the percentage change in price for a unit change in yield. Standard deviation Standard deviation is statistical measure of the range of an investment s performance. When a mutual fund has a high standard deviation, it means its range of performance is wide, implying greater volatility. Sharp Ratio The Sharpe Ratio, named after its founder the Noble laureate William Sharpe, is measure of risk-adjusted returns. It is calculated using standard deviation and excess return to determine reward per unit of risk. Beta Beta is a measure of an investment s volatility vis-à-vis the market. Beta of less than 1 means that the security will be less volatile than the market. A beta of greater than 1 implies that the security s price will be more volatile than the market. AUM AUM or assets under management refers to the recent / updated cumulative market value of investments managed by Mutual fund or any investment firm. Holdings The holdings or the portfolio is a mutual fund s latest or updated reported statement of investments/securities. These are usually displayed in terms of percentage to net assets or the rupee value or both. The objective is to give investors an idea of where their money is being invested by the fund manager. Nature of The investment objective and underlying investments determine the nature of the mutual fund scheme. For instance, a mutual fund that aims at generating capital appreciation by investing in stock markets is an equity fund or growth fund. Likewise, a mutual fund that aims at capital preservation by investing in debt markets is a debt fund or income fund. Each of these categories may have sub-categories. Rating Profile Mutual funds invest in securities after evaluating their credit worthiness as disclosed by the ratings. A depiction of the mutual fund in various investments based on their rating becomes the rating profile of the fund. Typically, this is a feature of debt funds. Contact Details Agra: Ahmedabad: / Ajmer: Aligarh: Allahabad: Ambala: /71 Amritsar: / Anand: Aurangabad: Bangalore: / 51 Bareilly: Bhavnagar: Bhilai: Bhopal: Bhubaneshwar: / Bhuj: Calicut: Chandigarh: / Chennai: / Cochin: / Coimbatore: Cuttack: / Dehradun: / Dhanbad: / Durgapur: / Goa: Gorakpur: Gurgaon: Guwahati: Hubli: Hyderabad: / 41/ 42 Indore: Jaipur: / Jalandhar: Jalgaon: / 32 Jammu: Jamnagar: Jamshedpur: / / Jodhpur: Kanpur: / Kolhapur: / 91 Kolkata: / 12/ 13/ 14 Kottayam: Lucknow: / Ludhiana: / Mangalore: Meerut: Mumbai: Mumbai: (Thane): / 186 Muradabad: Mysore: Nagpur: /8577 Nashik: New Delhi: / 02 Panipat: Patiala: Patna: Pondicherry: Pune: /27/29 Raipur: Rajkot: Ranchi: / / Rourkela: / Saharanpur Salem: Shimla: / Silliguri: Surat: / Trichur: Trichy: Trivandrum: Udaipur: Vadodara: / Vapi: / Varanasi: Vijayawada: Vishakapatnam: For details contact us at: KOTAK MAHINDRA ASSET MANAGEMENT COMPANY LIMITED: 6th Floor, Kotak Infiniti, Building No. 21, Infinity Park, Off Western Express way, Gen. A. K. Vaidya Marg, Malad (East), Mumbai Tel.: Fax: mutual@kotak.com Website: Corporate Office of Asset Management Company: 2nd Floor, 12-BKC, Plot No C-12, G Block, BKC, Bandra (East),Mumbai

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