FUNDS IN FOCUS NOVEMBER

FUNDS IN FOCUS NOVEMBER 30, 2017

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NOVEMBER 2017 EQUITY FUNDS:..................................................................... 1 Kotak Classic Equity Fund............................................................ 2 Kotak Tax Saver Fund............................................................... 4 Kotak Select Focus Fund............................................................. 6 Kotak Opportunities Fund............................................................ 8 Kotak Emerging Equity Fund......................................................... 10 HYBRID FUNDS:................................................................... 12 Kotak Balance Fund................................................................ 13 Kotak Equity Savings Fund.......................................................... 15 THEMATIC FUNDS.................................................................. 17 Kotak Infrastructure & Economic Reform Fund.......................................... 18 DEBT FUNDS...................................................................... 20 Kotak Duration Fund........................................................... 21 Kotak Income Opportunities Fund.................................................... 23 Kotak Medium Term Fund........................................................... 25 Kotak Bond Short Term Fund........................................................ 27

EQUITY FUNDS

Kotak Classic Equity Scheme Facts Structure An Open Ended Equity Grow Scheme Mon end AUM* (as on 30 Nov 2017) `128.59 crs Monly Average AUM* `123.67 crs NAV (as on 30 Nov 2017) Dividend `24.1210 Direct Dividend `25.9750 Grow `47.3240 Direct Grow `50.3570 Launch Date 27 July 2005 Benchmark Nifty 100 Min. Initial Inv. `5000 Additional Inv. `1000 & in multiples of `1 Standard Deviation^ 13.11% Beta^ 0.95 Sharpe^ 0.34 Portfolio Turnover 110.35% *Source: MFI Explorer. ^ as on 30 Nov, 2017. Source: Value Research. About Kotak Classic Equity Kotak Classic Equity is an open - ended equity grow scheme. The investment objective of e scheme is to generate capital appreciation from a diversified portfolio of equity and equity related securities. An open-ended diversified equity scheme wi a focus on large caps. Market capitalization bias:(a) Largecap focused wi normal allocation between 70%-90% and (b) Midcap allocation between 10%-30%. Equity Market Brief GST landmark reform is now implemented, and over e last few mons, e government has introduced furer changes to help e smaller firms navigate GST better. While ere might be some near-term issues in implementing, e longer term benefits are transformative. Most listed players will benefit, as ey form e organised part of e economy. Corporate earnings in few sectors like FMCG, home building, durables, fashion etc are showing ese transitional impact of GST implementation, even as most company management view is as a strong opportunity for eir companies. Corporate earnings are likely to pick up in e second half of FY18, after a long time we have seen limited downgrades in forward estimates of earnings. PSU recap and continued government spending on infrastructure augur well for e medium term grow prospects. India to benefit from such reforms which encourages formalisation of e economy in e medium-to-long-term, significant flow from physical to financial savings to furer provide stability to markets. Volatility across global equities is on lower side. Global events Fed hiking, Chinese currency depreciation, geopolitical events like e flare-up between US and Nor Korea to add to near-term volatility. Time in e market more important an timing e market after a long period of lower volatility, markets volatility may move up. Portfolio Action The fund has an overweight position in Media, Metals, Utilities and Oil and Gas while it is underweight in Pharma, BFSI, Capital Goods, Auto and Infrastructure. The conservative stance of e portfolio had benefitted e fund in e early part of FY17 as markets punished value stocks more an e quality stocks. The tilt from en has slowly changed as metal stocks, which represent e value set, found eir way into e portfolio. We continue to believe at metals offer e maximum potential for positive earnings surprise in addition to e deleveraging story going ahead. The lack of exposure to corporate lenders and PSU banks hurt e fund in e mon gone by as e government went for recapitalisation of PSU Banks. Market Cap. % Large cap 79.46 Midcap 9.28 Small cap 0.55 Cash 10.71 Source: MFI Explorer. Market definition used is market capitalisation of e 100 largest scrip (on e bases of market capitalisation) is e cutoff to determine e large cap and midcap segment. Load Structure Entry Load: Nil Exit Load: Nil. (applicable for all plans) (w.e.f December 01, 2014) Top 10 Sectors as on 30 Nov, 2017 Sector % Weight Underweight / Previous Change overweight Mon in portfolio Portfolio Benchmark against (Portfolio % from previous (Nifty 100) benchmark Weight) mon Financial Services Energy Consumer Goods Cash & Cash Equivalent Information Technology Automobile Metals Pharma Telecom Cement & Cement Products 22.18 33.01-10.83 24.55-2.37 19.62 13.88 5.73 21.27-1.65 11.31 12.24-0.94 13.06-1.75 10.86 0.00 10.86 5.63 5.23 9.38 9.65-0.26 7.87 1.51 8.57 10.31-1.74 9.03-0.46 6.82 4.82 2.00 8.01-1.18 4.37 4.51-0.14 3.09 1.28 2.64 2.26 0.37 2.91-0.28 1.98 2.11-0.13 2.21-0.22 2

Kotak Classic Equity About Kotak Mutual Fund Kotak Mahindra Asset Management Company Limited (KMAMC) is a wholly owned subsidiary of Kotak Mahindra Bank Limited (KMBL). KMBL has over two decades of experience in financial services. KMBL has a market capitalization of `1904.453 bn (as on ). KMAMC is e Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It started operations in December 1998. KMMF offers schemes catering to investors wi varying risk - return profiles and was e first fund house in e country to launch a dedicated gilt scheme. KMAMC manages assets wor `124757.49 cr (as on ). * The numbers are converted using e Rupee- USD reference rate published by e Reserve Bank of India as on e respective dates. To know more Call : 1800-222-626 (Toll Free), Mumbai 61152100, Delhi 66306900 / 02, Chennai 28221333 / 45038171, Kolkata 64509802 / 03, Pune 64013395 / 96, Ahmedabad 26779888, Bangalore 66128050 / 51, Hyderabad 66178140 / 41. Visit - assetmanagement.kotak.com Email - mutual@kotak.com Disclaimer Kotak Classic Equity is an open - ended equity grow scheme. Investment Objective: To generate capital appreciation from a diversified portfolio of equity and equity related securities. Kotak Classic Equity* Performance (%) as on Date Top 10 Companies as on 30 Nov, 2017 Reliance Industries Ltd. Petroleum Products 5.88% Infosys Ltd. Software 5.21% Hindustan Unilever Ltd. Consumer Non Durables 4.54% Maruti Suzuki India Limited Auto 4.51% Hindalco Industries Ltd Non - Ferrous Metals 3.43% Power Grid Corporation Of India Ltd Power 2.98% Bajaj Finance Limited Finance 2.87% GAIL (India) Ltd. Gas 2.72% Bharat Petroleum Corporation Ltd. Petroleum Products 2.52% National Thermal Power Corporation Limited Power 2.50% Kotak Classic Equity Fund Scheme Nifty 100 Nifty 50 Current Value of Standard Investment Returns # (%) ## (%) of ` 10000 in e (%) ^ Scheme ( `) Benchmark # ( `) Additional Benchmark ## ( `) Since Inception 13.41 13.19 12.76 47,324 46,231 44,097 Last 1 Year 29.77 25.80 24.34 Last 3 Years 9.99 7.62 5.98 Last 5 Years 15.64 12.97 11.70 Scheme Inception date is 27/07/2005. Mr. Deepak Gupta has been managing e fund since 01/01/2017. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*all payouts during e period have been reinvested in e units of e scheme at e en prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Grow Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows e value of `10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Please refer page no. 29 for top 3 and bottom 3 schemes managed by Mr. Deepek Gupta. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Scheme Information Document (SID) and Statement of Additional Information (SAI) available on mutualfund.kotak.com Dividend History Date CUM Dividend Dividend NAV ( ` per unit) Jul-28-17 23.433 0.70 Jul-15-16 19.692 0.50 Nov-20-15 18.540 0.50 Jul-25-14 18.227 1.00 Jan-23-14 19.202 4.30 Jul-31-12 15.413 1.00 LOW Riskometer Moderate Investors understand at eir principal will be at moderately high risk HIGH This product is suitable for investors who are seeking*: Long term capital grow Investment in portfolio of predominantly equity & equity related securities * Investors should consult eir financial advisors if in doubt about wheer e product is suitable for em. 3

Kotak Tax Saver Scheme Facts Structure About Kotak Tax Saver An Open -Ended Equity Linked Saving Scheme Mon end AUM* (as on 30 Nov 2017) `720.79crs Monly Average AUM* `719.85 crs NAV (as on 30 Nov 2017) The investment objective of Kotak Tax Saver is to generate long term capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail e income tax rebate, as permitted from time to time. The scheme us offers a dual benefit of grow and tax savings. The scheme alough open ended, has a ree year lock-in. The portfolio is generally diversified across sectors and market capitalization segments. Dividend `20.3260 Dividend Direct `23.5140 Grow `42.0820 Grow Direct `44.8520 Launch Date rd 23 November 2005 Benchmark Nifty 500 Min. Initial Inv. `500 Additional Inv. `500 & in multiples of `500 Standard Deviation^ 14.58% Beta^ 1.03 Sharpe^ 0.46 Portfolio Turnover 29.13% Equity Market Brief GST landmark reform is now implemented, and over e last few mons, e government has introduced furer changes to help e smaller firms navigate GST better. While ere might be some near-term issues in implementing, e longer term benefits are transformative. Most listed players will benefit, as ey form e organised part of e economy. Corporate earnings in few sectors like FMCG, home building, durables, fashion etc are showing ese transitional impact of GST implementation, even as most company management view is as a strong opportunity for eir companies. Corporate earnings are likely to pick up in e second half of FY18, after a long time we have seen limited downgrades in forward estimates of earnings. PSU recap and continued government spending on infrastructure augur well for e medium term grow prospects. India to benefit from such reforms which encourages formalisation of e economy in e medium-to-long-term, significant flow from physical to financial savings to furer provide stability to markets. Volatility across global equities is on lower side. Global events Fed hiking, Chinese currency depreciation, geopolitical events like e flare-up between US and Nor Korea to add to near-term volatility. Time in e market more important an timing e market after a long period of lower volatility, markets volatility may move up. Portfolio Action The key overweight sectors in e portfolio are Cement, Oil&Gas and Capital Goods. Wiin Oil&Gas sector, we are particularly bullish on gas utilities and downstream oil companies. The underweight sectors are IT and Pharma, wherein earnings momentum is weak and business headwinds still persist. During e mon we booked partial profits in oil&gas sector, and increased exposure to FMCG in view of expected normalization of business post-gst and also lesser competitive intensity. Large cap allocation in e portfolio is about 60%. *Source: MFI Explorer. ^ as on 30 Nov, 2017. Source: Value Research. Market Cap. % Large cap 58.13 Midcap 34.88 Small cap 5.86 Cash 1.13 As on 30 Nov, 2017. Source: KPAX (internal system). Market definition used is market capitalisation of e 100 largest scrip (on e bases of market capitalisation) is e cutoff to determine e large cap and midcap segment. Load Structure Entry Load: Nil Exit Load: Exit Load is not applicable for Kotak Tax Saver Scheme. (applicable for all plans) Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Top 10 Sectors as on 30 Nov, 2017 Sector % Weight Underweight / Previous Change overweight Mon in portfolio Portfolio Benchmark against (Portfolio % from previous (Nifty 500) benchmark Weight) mon Financial Services Energy Consumer Goods Cement & Cement Products Automobile Industrial Manufacturing Construction Information Technology Pharma Services 30.67 30.70-0.03 30.79-0.11 19.08 12.24 6.84 20.43-1.36 8.41 12.39-3.98 7.84 0.57 6.65 2.40 4.25 7.16-0.50 6.39 9.08-2.69 6.42-0.04 5.67 2.96 2.71 5.33 0.34 3.81 4.39-0.58 3.60 0.21 3.21 8.61-5.41 3.08 0.13 3.19 4.91-1.72 3.47-0.28 3.06 2.58 0.48 3.14-0.08 4

Kotak Tax Saver About Kotak Mutual Fund Kotak Mahindra Asset Management Company Limited (KMAMC) is a wholly owned subsidiary of Kotak Mahindra Bank Limited (KMBL). KMBL has over two decades of experience in financial services. KMBL has a market capitalization of `1904.453 bn (as on ). KMAMC is e Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It started operations in December 1998. KMMF offers schemes catering to investors wi varying risk - return profiles and was e first fund house in e country to launch a dedicated gilt scheme. KMAMC manages assets wor `124757.49 cr (as on ). * The numbers are converted using e Rupee- USD reference rate published by e Reserve Bank of India as on e respective dates. To know more Call : 1800-222-626 (Toll Free), Mumbai 61152100, Delhi 66306900 / 02, Chennai 28221333 / 45038171, Kolkata 64509802 / 03, Pune 64013395 / 96, Ahmedabad 26779888, Bangalore 66128050 / 51, Hyderabad 66178140 / 41. Visit - assetmanagement.kotak.com Email - mutual@kotak.com Disclaimer Kotak Tax Saver is an open-ended equity linked savings scheme. Investment Objective: To generate long-term capital appreciation from a diversified portfolio of equity and equity related securities and enable investors to avail e income tax rebate, as permitted from time to time. The amount invested in e scheme shall be subject to a lock-in of 3 years irrespective of wheer e investments would be eligible for tax benefit or not. The above does not constitute and advice or a representation. Investors are requested to seek professional advice in is regard. Kotak Mahindra Bank Limited is not liable or responsible for any loss or short fall resulting from e operations of e scheme. Top 10 Companies as on 30 Nov, 2017 HDFC Bank Ltd. Banks 6.17% Reliance Industries Ltd. Petroleum Products 5.29% State Bank Of India Banks 4.00% IndusInd Bank Ltd. Banks 3.23% ICICI Bank Ltd. Banks 3.06% Hero MotoCorp Ltd. Auto 3.02% Shree Cement Ltd. Cement 2.86% OCL India Ltd Cement 2.79% Mahanagar Gas Ltd Gas 2.67% GlaxoSmikline Consumer Healcare Ltd Consumer Non Durables 2.53% Kotak Tax Saver* Performance (%) as on Date Kotak Tax Saver - Grow Scheme Nifty 500 Nifty 50 Current Value of Standard Investment Returns # (%) ## (%) of ` 10000 in e (%) ^ Scheme ( `) Benchmark # ( `) Additional Benchmark ## ( `) Since Inception 12.69 12.35 12.03 42,082 40,587 39,203 Last 1 Year 27.46 29.31 24.34 Last 3 Years 12.30 9.76 5.98 Last 5 Years 16.37 14.38 11.70 Scheme Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing e fund since 25/08/2015. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*all payouts during e period have been reinvested in e units of e scheme at e en prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Grow Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows e value of `10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Please refer page no. 29 for oer schemes managed by Mr. Harsha Upadhyay. LOW Riskometer Moderate Investors understand at eir principal will be at moderately high risk HIGH This product is suitable for investors who are seeking*: long term capital grow wi a 3 year lock in Investment in portfolio of predominantly equity & equity related securities. * Investors should consult eir financial advisors if in doubt about wheer e product is suitable for em. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Scheme Information Document (SID) and Statement of Additional Information (SAI) available on mutualfund.kotak.com Dividend History Date CUM Dividend Dividend NAV ( ` per unit) Jun-29-17 22.144 0.40 Mar-29-17 19.432 0.75 Jan-27-17 18.889 0.72 Mar-22-16 16.266 0.65 Jan-21-16 16.113 0.70 Dec-30-14 17.542 0.10 Nov-28-14 18.180 0.50 Feb-08-08 15.189 3.50 Feb-20-07 11.640 3.00 5

Kotak Select Focus Scheme Facts Structure An Open Ended Equity Scheme Mon end AUM* (as on 30 Nov 2017) `15,934.91 crs Monly Average AUM* `15,581.52 crs NAV (as on 30 Nov 2017) Dividend `23.3420 Direct Dividend `24.6450 Grow `32.7290 Direct Grow `34.3100 Launch Date 11 September 2009 Benchmark Nifty 200 Min. Initial Inv. `5000 & in multiple of `1 for purchase and for ` 0.01 for switches Additional Inv. `1000 & in multiples of `1 Standard Deviation^ 13.74% Beta^ 0.98 Sharpe^ 0.58 Portfolio Turn over 20.96% *Source: MFI Explorer. ^ as on 30 Nov, 2017. Source: Value Research. Market Cap. % Large cap 76.35 Midcap 15.64 Small cap 0.65 Cash 7.37 About Kotak Select Focus The investment objective of Kotak Select Focus scheme is to generate long term capital appreciation from a portfolio of equity and equity related securities, generally focused on select few sectors. The scheme endeavors to identify sectors at are likely to do well over e medium term and takes focus exposures to e same. There is no restriction on which type of sectors e scheme can take exposure to and e portfolio will be generally diversified at e stock level across market capitalization. The scheme is well positioned to capture various emes at are in flavour in a focused manner. Equity Market Brief GST landmark reform is now implemented, and over e last few mons, e government has introduced furer changes to help e smaller firms navigate GST better. While ere might be some near-term issues in implementing, e longer term benefits are transformative. Most listed players will benefit, as ey form e organised part of e economy. Corporate earnings in few sectors like FMCG, home building, durables, fashion etc are showing ese transitional impact of GST implementation, even as most company management view is as a strong opportunity for eir companies. Corporate earnings are likely to pick up in e second half of FY18, after a long time we have seen limited downgrades in forward estimates of earnings. PSU recap and continued government spending on infrastructure augur well for e medium term grow prospects. India to benefit from such reforms which encourages formalisation of e economy in e medium-to-long-term, significant flow from physical to financial savings to furer provide stability to markets. Volatility across global equities is on lower side. Global events Fed hiking, Chinese currency depreciation, geopolitical events like e flare-up between US and Nor Korea to add to near-term volatility. Time in e market more important an timing e market after a long period of lower volatility, markets volatility may move up. Portfolio Action The portfolio continues to have a pro-cyclical tilt. Domestic businesses continue dominate e portfolio as compared to export/ global businesses due to better earnings trajectory. The top overweight sectors in e fund are Cement, Banking&Financials and Oil&Gas. We believe at Government s focus on reviving consumption and spending on infrastructure will create positive demand scenario for our portfolio companies in medium term. Metals, Utilities and Telecom sectors are e major exclusions from e fund. The key underweight sectors continue to be IT and Pharma, wherein earnings momentum is weak and business headwinds still persist. Allocation to large cap segment accounts for about 3/4 of e total corpus. As on 30 Nov, 2017.Source: KPAX (internal system). Market definition used is market capitalisation of e 100 largest scrip (on e bases of market capitalisation) is e cutoff to Top Sectors as on 30 Nov, 2017 determine e large cap and midcap segment. Sector % Weight Underweight / Previous Change Load Structure overweight Mon in portfolio Portfolio Benchmark against (Portfolio % from previous Entry Load: Nil (Nifty 200) benchmark Weight) mon Exit Load: Financial Services 34.98 32.24 2.74 34.00 0.98 I) For redemptions / switch outs (including Energy 15.71 13.22 2.49 16.31-0.59 SIP/STP) wiin 1 year from e date of allotment of units, irrespective of e amount Automobile 10.93 9.69 1.23 11.40-0.47 of investment:1% Cash & Cash Equivalent 7.37 0.00 7.37 7.25 0.12 ii) For redemptions / switch outs (including Cement & Cement Products 6.97 2.35 4.62 7.40-0.42 SIP/STP) after 1 year from e date of allotment Consumer Goods 6.93 12.06-5.13 7.12-0.20 of units, irrespective of e amount of Construction 4.11 3.82 0.29 3.42 0.69 investment: NIL Industrial Manufacturing 3.43 1.58 1.86 3.51-0.08 iii) Any exit load charged (net off Service Tax, if any) shall be credited back to e respective Scheme. (applicable for all plans) iv) Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) 6

Kotak Select Focus About Kotak Mutual Fund Kotak Mahindra Asset Management Company Limited (KMAMC) is a wholly owned subsidiary of Kotak Mahindra Bank Limited (KMBL). KMBL has over two decades of experience in financial services. KMBL has a market capitalization of `1904.453 bn (as on ). KMAMC is e Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It started operations in December 1998. KMMF offers schemes catering to investors wi varying risk - return profiles and was e first fund house in e country to launch a dedicated gilt scheme. KMAMC manages assets wor `124757.49 cr (as on ). * The numbers are converted using e Rupee- USD reference rate published by e Reserve Bank of India as on e respective dates. To know more Ccall : 1800-222-626 (Toll Free), Mumbai 61152100, Delhi 66306900 / 02, Chennai 28221333 / 45038171, Kolkata 64509802 / 03, Pune 64013395 / 96, Ahmedabad 26779888, Bangalore 66128050 / 51, Hyderabad 66178140 / 41. Visit - assetmanagement.kotak.com Email - mutual@kotak.com Disclaimer Kotak Select Focus Fund is an open-ended equity scheme. Investment Objective: The investment objective of e scheme is to generate long-term capital appreciation from a portfolio of equity and equity related securities, generally focused on a few selected sectors. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Scheme Information Document (SID) and Statement of Additional Information (SAI) available on mutualfund.kotak.com Dividend History Top 10 Companies as on 30 Nov, 2017 HDFC Bank Ltd. Banks 6.49% Reliance Industries Ltd. Petroleum Products 5.20% State Bank Of India Banks 4.02% HDFC Ltd. Finance 3.89% ICICI Bank Ltd. Banks 3.86% Hero MotoCorp Ltd. Auto 3.76% Larsen And Toubro Ltd. Construction Project 3.66% Maruti Suzuki India Limited Auto 3.24% ITC Ltd. Consumer Non Durables 3.13% IndusInd Bank Ltd. Banks 3.02% Kotak Select Focus* Performance (%) as on Date Kotak Select Focus Fund Scheme Nifty 200 Nifty 50 Current Value of Standard Investment Returns #(%) ## (%) of ` 10000 in e (%) ^ Scheme ( `) Benchmark #( `) Additional Benchmark ## ( `) Since Inception 15.51 10.34 9.55 32,729 22,466 21,175 Last 1 Year 28.66 27.41 24.34 Last 3 Years 13.84 8.56 5.98 Last 5 Years 20.60 13.47 11.70 Scheme Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing e fund since 04/08/2012. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*all payouts during e period have been reinvested in e units of e scheme at e en prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Grow Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows e value of `10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Please refer page no. 29 for oer schemes managed by Mr. Harsha Upadhyaya. LOW Riskometer Moderate Investors understand at eir principal will be at moderately high risk HIGH This product is suitable for investors who are seeking*: Long term capital grow Investment in portfolio of predominantly equity & equity related securities generally focussed on a few selected sectors. * Investors should consult eir financial advisors if in doubt about wheer e product is suitable for em. Date CUM Dividend Dividend NAV ( ` per unit) Sep-27-17 23.592 1.50 Sep-30-16 21.349 1.25 Oct-12-15 19.739 1.00 Sep-26-14 17.791 1.00 Oct-15-10 12.850 1.25 7

Kotak Opportunities Scheme Facts Structure An Open Ended Equity Grow Scheme Mon end AUM* (as on 30 Nov 2017) `2,158.44 crs Monly Average AUM* `2,122.69 crs NAV (as on 30 Nov 2017) Dividend `27.5680 Dividend Direct `29.2460 Grow `116.0420 Grow Direct `121.9840 Launch Date 9 September 2004 Benchmark Nifty 500 Min. Initial Inv. `5000 Additional Inv. `1000 & in multiples of `1 Standard Deviation^ 13.90% Beta^ 0.99 Sharpe^ 0.57 Portfolio Turn over 38.58% *Source: MFI Explorer. ^ as on 30 Nov, 2017. Source: Value Research. About Kotak Opportunities Kotak Opportunities looks for opportunities across sectors based on performance and potential of companies wiin e sectors. The fund manager has e flexibility to invest in a mix of large and mid cap stocks from various sectors. The allocation between large caps & midcaps would broadly depend on e choice of sectors, business environment & valuations. Equity Market Brief GST landmark reform is now implemented, and over e last few mons, e government has introduced furer changes to help e smaller firms navigate GST better. While ere might be some near-term issues in implementing, e longer term benefits are transformative. Most listed players will benefit, as ey form e organised part of e economy. Corporate earnings in few sectors like FMCG, home building, durables, fashion etc are showing ese transitional impact of GST implementation, even as most company management view is as a strong opportunity for eir companies. Corporate earnings are likely to pick up in e second half of FY18, after a long time we have seen limited downgrades in forward estimates of earnings. PSU recap and continued government spending on infrastructure augur well for e medium term grow prospects. India to benefit from such reforms which encourages formalisation of e economy in e medium-to-long-term, significant flow from physical to financial savings to furer provide stability to markets. Volatility across global equities is on lower side. Global events Fed hiking, Chinese currency depreciation, geopolitical events like e flare-up between US and Nor Korea to add to near-term volatility. Time in e market more important an timing e market after a long period of lower volatility, markets volatility may move up. Portfolio Action The portfolio continues to have a tilt towards pro-cyclicals at have operating leverage. The top overweight sectors are Cement, Oil&Gas and Fertilisers. The top underweight sectors in e fund are IT and Metals. Telecom sector continues to see headwinds, wherein e portfolio has no exposure. The large cap allocation in e fund is about 60%. Market Cap. % Large cap 61.69 Midcap 32.10 Small cap 3.42 Cash 2.79 As on 30 Nov, 2017. Source: KPAX (internal system). Market definition used is market capitalisation of e 100 largest scrip (on e bases of market capitalisation) is e cutoff to determine e large cap and midcap segment. Load Structure Entry Load: Nil Exit Load: I) For redemptions / switch outs (including SIP/STP) wiin 1 year from e date of allotment of units, irrespective of e amount of investment:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from e date of allotment of units, irrespective of e amount of investment: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to e respective Scheme. (applicable for all plans) iv) Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Top 10 Sectors as on 30 Nov, 2017 Sector % Weight Underweight / Previous Change overweight Mon in portfolio Portfolio Benchmark against (Portfolio % from previous (Nifty 500) benchmark Weight) mon Financial Services Energy Consumer Goods Cement & Cement Products Automobile Industrial Manufacturing Construction Cash & Cash Equivalent Fertilisers & Pesticides Healcare Services 30.96 30.70 0.26 31.05-0.09 19.17 12.24 6.93 17.80 1.38 8.95 12.39-3.44 8.44 0.52 6.69 2.40 4.29 6.73-0.04 5.38 9.08-3.70 6.60-1.23 4.69 2.96 1.73 4.63 0.06 3.90 4.39-0.49 3.93-0.03 3.66 0.00 3.66 10.75-7.09 3.49 0.99 2.50 3.31 0.18 2.36 0.05 2.30 2.23 0.13 8

Kotak Opportunities Dividend History Date Nov-28-17 28.7004 0.85 Aug-29-17 27.9190 0.85 May-29-17 27.748 0.85 Feb-28-17 26.279 0.50 Nov-22-16 24.246 0.80 Aug-28-15 24.388 1.60 Aug-25-14 21.411 1.00 Nov-11-11 13.682 0.50 May-28-10 14.625 1.00 Sept-8-09 14.733 1.50 Mar-14-08 16.975 2.00 Jan-25-08 27.090 6.00 Sept-28-07 24.293 3.00 Sept-27-06 17.745 1.50 Mar-21-06 21.783 4.50 About Kotak Mutual Fund Kotak Mahindra Asset Management Company Limited (KMAMC) is a wholly owned subsidiary of Kotak Mahindra Bank Limited (KMBL). KMBL has over two decades of experience in financial services. KMBL has a market capitalization of `1904.453 bn (as on ). KMAMC is e Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It started operations in December 1998. KMMF offers schemes catering to investors wi varying risk - return profiles and was e first fund house in e country to launch a dedicated gilt scheme. KMAMC manages assets wor `124757.49 cr (as on ). * The numbers are converted using e Rupee- USD reference rate published by e Reserve Bank of India as on e respective dates. To know more CUM Dividend NAV Call : 1800-222-626 (Toll Free), Mumbai 61152100, Delhi 66306900 / 02, Chennai 28221333 / 45038171, Kolkata 64509802 / 03, Pune 64013395 / 96, Ahmedabad 26779888, Bangalore 66128050 / 51, Hyderabad 66178140 / 41. Visit - assetmanagement.kotak.com Email - mutual@kotak.com Dividend ( ` per unit) Top 10 Companies as on 30 Nov, 2017 HDFC Bank Ltd. Banks 6.23% Reliance Industries Ltd. Petroleum Products 4.91% HDFC Ltd. Finance 3.88% State Bank Of India Banks 3.56% Gujarat State Petronet Ltd. Gas 3.12% Hero MotoCorp Ltd. Auto 3.03% ICICI Bank Ltd. Banks 2.74% ITC Ltd. Consumer Non Durables 2.73% IndusInd Bank Ltd. Banks 2.69% Max Financial Services Ltd. Finance 2.54% Kotak Opportunities* Performance (%) as on Date Kotak Opportunities - Grow Scheme Nifty 500 Nifty 50 Current Value of Standard Investment Returns # (%) ## (%) of ` 10000 in e (%) ^ Scheme ( `) Benchmark # ( `) Additional Benchmark ## ( `) Since Inception 20.35 15.26 14.79 116,042 65,466 62,017 Last 1 Year 28.72 29.31 24.34 Last 3 Years 13.70 9.76 5.98 Last 5 Years 18.72 14.38 11.70 Scheme Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing e fund since 04/08/2012. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*all payouts during e period have been reinvested in e units of e scheme at e en prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Grow Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows e value of `10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Please refer page no. 29 for oer schemes managed by Mr. Harsha Upadhyaya. LOW Riskometer Moderate Investors understand at eir principal will be at moderately high risk HIGH This product is suitable for investors who are seeking*: Long term capital grow Investment in portfolio of predominantly equity & equity related securities * Investors should consult eir financial advisors if in doubt about wheer e product is suitable for em. Disclaimer Kotak Opportunities is an open-ended equity grow scheme. Investment Objective: To generate capital appreciation from a diversified portfolio of equity & equity related instruments Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Scheme Information Document (SID) and Statement of Additional Information (SAI) available on mutualfund.kotak.com 9

Kotak Emerging Equity Scheme Facts Structure An Open - Ended Equity Grow Scheme Mon end AUM* (as on 30 Nov 2017) `2,808.51 crs Monly Average AUM* `2,723.77 crs NAV (as on 30 Nov 2017) Dividend `27.6840 Direct Dividend `31.3200 Grow `40.5040 Direct Grow `42.8140 Launch Date 30 March 2007 Benchmark S&P BSE Mid Small Cap Min. Initial Inv. `5000 Additional Inv. `1000 & in multiples of `1 Standard Deviation^ 14.62% Beta^ 0.89 Sharpe^ 0.90 Portfolio Turnover 32.72% *Source: MFI Explorer. ^ as on 30 Nov, 2017. Source: Value Research. Market Cap. % Large cap 11.43 Midcap 85.24 Small cap 0.00 Cash 3.33 As on 30 Nov, 2017. Source: Value Research definition. Load Structure Entry Load: Nil Exit Load: I) For redemptions / switch outs (including SIP/STP) wiin 1 year from e date of allotment of units, irrespective of e amount of investment:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from e date of allotment of units, irrespective of e amount of investment: NIL Any exit load charged (net off Service Tax, if any) shall be credited back to e respective Scheme. Units issued on reinvestment of dividends shall not be subject to entry and exit load. About Kotak Emerging Equity The investment objective of Kotak Emerging Equity 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. These companies are eier at eir nascent or developing stage and are under researched. Alough relatively volatile in e short run, small and mid cap companies have e potential to deliver higher grow in e long term. Equity Market Brief GST landmark reform is now implemented, and over e last few mons, e government has introduced furer changes to help e smaller firms navigate GST better. While ere might be some near-term issues in implementing, e longer term benefits are transformative. Most listed players will benefit, as ey form e organised part of e economy. Corporate earnings in few sectors like FMCG, home building, durables, fashion etc are showing ese transitional impact of GST implementation, even as most company management view is as a strong opportunity for eir companies. Corporate earnings are likely to pick up in e second half of FY18, after a long time we have seen limited downgrades in forward estimates of earnings. PSU recap and continued government spending on infrastructure augur well for e medium term grow prospects. India to benefit from such reforms which encourages formalisation of e economy in e medium-to-long-term, significant flow from physical to financial savings to furer provide stability to markets. Volatility across global equities is on lower side. Global events Fed hiking, Chinese currency depreciation, geopolitical events like e flare-up between US and Nor Korea to add to near-term volatility. Time in e market more important an timing e market after a long period of lower volatility, markets volatility may move up. Portfolio Action The portfolio continues to be pro-cyclical and tilted towards economic recovery. As a result we continue to be Overweight on sectors such as Financials, cement, capital goods & engineering, auto ancillary, media, and consumer discretionary. In e short term we believe e GST implementation could be a disruptor for B2C businesses. However from a medium term perspective post GST implementation, we anticipate at e organized players would become stronger as unorganized sector would find it tough to do business in e changed environment and cede market share to more organized players and portfolio is well positioned in ose sectors where ere is a large portion of unorganized players. The recent rate reduction of lots of items from 28% to 18% pose well for e unorganised to organised eme. 2QFY18 earnings season has come as a brea of fresh air and rekindled hopes of earnings having troughed. Nifty earnings grew by 14%yoy in 2QFY18, highest in last 3 years. More importantly, e quality of earnings was better an e previous few quarters. Most of e sectors eier met or exceeded expectations wi very little downgrades. 2HFY18 is expected to benefit from e low base of last year and normalization of supply chain post initial teeing issues pertaining to GST. In e IT and pharma sector we continue to have stock specific approach and continue to have UW stance on bo e sectors. During e mon we have increased allocations consumer goods and marginal reduction in media and financials. Post sharp run in e stocks in last 6 mons, e overall view turns a little cautious on is space as valuations are above long term averages. Top 10 Sectors as on 30 Nov, 2017 Sector % Weight Underweight / Previous Change overweight Mon in portfolio Portfolio Benchmark against (Portfolio % from previous S&P BSE Mid benchmark Weight) mon Small Cap Index Financial Services Industrial Manufacturing Consumer Goods Services Pharma Chemicals Automobile Construction Cash & Cash Equivalent Media & Entertainment 20.57 18.56 2.01 21.03-0.46 20.22 10.60 9.62 20.06 0.16 16.19 13.35 2.85 14.55 1.64 6.18 7.42-1.24 6.83-0.65 5.61 7.58-1.97 4.72 0.89 5.54 3.43 2.11 5.24 0.30 4.72 6.61-1.88 4.43 0.29 3.96 6.77-2.81 4.18-0.22 3.33 0.00 3.33 12.56-9.24 2.67 2.09 0.58 3.88-1.21 10

Kotak Emerging Equity About Kotak Mutual Fund Kotak Mahindra Asset Management Company Limited (KMAMC) is a wholly owned subsidiary of Kotak Mahindra Bank Limited (KMBL). KMBL has over two decades of experience in financial services. KMBL has a market capitalization of `1904.453 bn (as on ). KMAMC is e Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It started operations in December 1998. KMMF offers schemes catering to investors wi varying risk - return profiles and was e first fund house in e country to launch a dedicated gilt scheme. KMAMC manages assets wor `124757.49 cr (as on ). * The numbers are converted using e Rupee- USD reference rate published by e Reserve Bank of India as on e respective dates. To know more Call : 1800-222-626 (Toll Free), Mumbai 61152100, Delhi 66306900 / 02, Chennai 28221333 / 45038171, Kolkata 64509802 / 03, Pune 64013395 / 96, Ahmedabad 26779888, Bangalore 66128050 / 51, Hyderabad 66178140 / 41. Visit - assetmanagement.kotak.com Email - mutual@kotak.com Disclaimer Kotak Emerging Equity Scheme is an openended equity grow scheme. Investment Objective: The investment objective of e 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. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Scheme Information Document (SID) and Statement of Additional Information (SAI) available on mutualfund.kotak.com Kotak Emerging Equity*Performance (%) as on Date Top 10 Companies as on 30 Nov, 2017 IndusInd Bank Ltd. Banks 3.30% Schaeffler India Ltd Industrial Products 3.24% Atul Ltd. Chemicals 2.94% RBL Bank Ltd Banks 2.73% The Ramco Cements Ltd Cement 2.64% Solar Industries India Limited Chemicals 2.60% Finolex Cables Ltd. Industrial Products 2.51% Eveready Industries India Ltd. Consumer Non Durables 2.46% Supreme Industries Limited Industrial Products 2.36% Emami Ltd. Consumer Non Durables 2.32% Kotak Emerging Equity Fund Since Inception 13.99 13.12 9.66 40,504 37,304 26,760 Last 1 Year 33.54 42.34 24.34 Last 3 Years 19.73 18.69 5.98 Last 5 Years 25.02 20.30 11.70 Scheme S&P BSE Nifty 50 Current Value of Standard Investment Returns Mid Small ## (%) of ` 10000 in e (%) ^ Cap Index # (%) Scheme ( `) Benchmark # ( `) Additional Benchmark ## ( `) Scheme Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing e fund since 27/05/2010. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*all payouts during e period have been reinvested in e units of e scheme at e en prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Grow Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows e value of `10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Please refer page no. 29 for oer schemes managed by Mr. Pankaj Tibrewal. LOW Riskometer Moderate Investors understand at eir principal will be at moderately high risk HIGH This product is suitable for investors who are seeking*: Long term capital grow Investment in equity & equity related securities predominantly in mid & small cap companies * Investors should consult eir financial advisors if in doubt about wheer e product is suitable for em. Dividend History Date CUM Dividend Dividend NAV ( ` per unit) May-26-17 26.010 1.59 May-27-16 21.196 1.30 Apr-28-15 21.499 2.10 May-02-14 13.073 0.50 May-02-13 11.491 0.50 Apr-29-11 10.573 0.75 11

HYBRID FUNDS EQUITY DEBT

Kotak Balance Scheme Facts Structure An Open- Ended Balanced Scheme Mon end AUM* (as on 30 Nov 2017) `2,209.46 crs Monly Average AUM* `2,188.14 crs NAV (as on 30 Nov 2017) Dividend `17.0240 Direct Dividend `18.3820 Grow `24.2760 Direct Grow `25.7620 Launch Date 25 November 1999 Benchmark Crisil Balanced Fund - Aggressive Index Min. Initial Inv. `5000 Additional Inv. `1000 & in multiples of `1 Standard Deviation^ 10.67% Beta^ 1.12 Sharpe^ 0.39 Portfolio Turn over 30.72% *Source: Value Research. ^ as on 30 Nov, 2017. Source: Value Research. Load Structure Entry Load: Nil Exit Load: I) For redemptions / switch outs (including SIP/STP) wiin 1 year from e date of allotment of units, irrespective of e amount of investment:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from e date of allotment of units, irrespective of e amount of investment: NIL About Kotak Balance The investment objective of Kotak Balance is to achieve grow by investing in equity and equity related instruments, balanced wi income generation by investing in debt and money market instruments. The scheme us provides capital appreciation potential of equities as well as stable returns of debt. Equity Market Brief GST landmark reform is now implemented, and over e last few mons, e government has introduced furer changes to help e smaller firms navigate GST better. While ere might be some near-term issues in implementing, e longer term benefits are transformative. Most listed players will benefit, as ey form e organised part of e economy. Corporate earnings in few sectors like FMCG, home building, durables, fashion etc are showing ese transitional impact of GST implementation, even as most company management view is as a strong opportunity for eir companies. Corporate earnings are likely to pick up in e second half of FY18, after a long time we have seen limited downgrades in forward estimates of earnings. PSU recap and continued government spending on infrastructure augur well for e medium term grow prospects. India to benefit from such reforms which encourages formalisation of e economy in e medium-to-long-term, significant flow from physical to financial savings to furer provide stability to markets. Volatility across global equities is on lower side. Global events Fed hiking, Chinese currency depreciation, geopolitical events like e flare-up between US and Nor Korea to add to near-term volatility. Time in e market more important an timing e market after a long period of lower volatility, markets volatility may move up. Portfolio Action Equity The portfolio continues to be pro-cyclical and tilted towards economic recovery. As a result we continue to be overweight on sectors such as cement, capital goods & engineering, auto ancillary, media and consumer discretionary. In e IT and pharma sector we continue to have stock specific approach. The fund continues e underweight stance on consumer staples, IT and Pharma. During e mons we marginally increased weightage to financials (insurance companies & PSU banks), FMCG, capital goods, 2W space & Oil & gas sector. In e short term we believe e GST implementation could be a disruptor for B2C businesses. However from a medium term perspective post GST implementation, we anticipate at e organized players would become stronger as unorganized sector would find it tough to do business in e changed environment and cede market share to more organized players and portfolio is well positioned in ose sectors where ere is a large portion of unorganized players. From an earnings perspective so far 2QFY18 results have been largely in line wi expectations and better 1QFY18 results. Sector such as private sector banks, FMCG, consumer discretionary autos have given better an expectation while results of IT. OMCs & Pharma have been below expectation. Next two quarters are likely to retain earnings momentum due to lower base because of demonetisation. The current largecap (above 20kmcap): midcap ratio remains at 70:30 in e fund. Debt As on 30 Nov, 2017, almost 76% of e scheme portfolio comprised of government securities (central as well as state). The remaining 24% was held in e form of corporate bonds and cash. During e past mon, gilt yields saw a sharp sell-off. However, e tightening yield spreads between e benchmark 10-yr and e longer (12/14/17 yr) gilts indicate at e markets are not in a bearish trend. We expect gilts and PSU bank perpetual bonds to fare e best on e risk-reward matrix in e near to mid-term future, and will construct our portfolio accordingly. iii) Any exit load charged (net off Service Tax, if any) shall be credited back to e respective Scheme. (applicable for all plans) iv) Units issued on reinvestment of dividends shall not be subject to exit load (applicable for all plans) Top 10 Sectors as on 30 Nov, 2017 Oers Software Industrial Products Cement Consumer Non Durables Finance CBLO & Term Deposits & Rev.Repo Auto Debentures and Bonds Government Dated Securities Banks 3.04 4.22 4.25 4.60 4.88 5.92 7.03 13.58 15.71 16.69 20.08 13

Kotak Balance About Kotak Mutual Fund Kotak Mahindra Asset Management Company Limited (KMAMC) is a wholly owned subsidiary of Kotak Mahindra Bank Limited (KMBL). KMBL has over two decades of experience in financial services. KMBL has a market capitalization of `1904.453 bn (as on ). KMAMC is e Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It started operations in December 1998. KMMF offers schemes catering to investors wi varying risk - return profiles and was e first fund house in e country to launch a dedicated gilt scheme. KMAMC manages assets wor `124757.49 cr (as on ). * The numbers are converted using e Rupee- USD reference rate published by e Reserve Bank of India as on e respective dates. To know more Call : 1800-222-626 (Toll Free), Mumbai 61152100, Delhi 66306900 / 02, Chennai 28221333 / 45038171, Kolkata 64509802 / 03, Pune 64013395 / 96, Ahmedabad 26779888, Bangalore 66128050 / 51, Hyderabad 66178140 / 41. Visit - assetmanagement.kotak.com Email - mutual@kotak.com Disclaimer Kotak Balance is an open-ended balanced scheme. Investment Objective: To achieve grow by investing in equity & equity related instruments, balanced wi income generation by investing in debt & money market instruments. Top 10 Companies as on 30 Nov, 2017 6.68% Central Government SOV 5.66% 6.79% Central Government SOV 4.89% U P Power Corporation Ltd ( Guaranteed By UP State Government ) FITCH IND AA(SO) 3.75% HDFC Bank Ltd. Banks 3.53% United Bank Of India CRISIL AA- 3.34% State Bank Of India Banks 2.82% ICICI Bank Ltd. Banks 2.51% Allahabad Bank FITCH IND A 2.38% 7.73% Central Government SOV 2.32% 6.57% Central Government SOV 2.31% Kotak Balance* Performance (%) as on Date Kotak Balance Scheme Returns (%)^ Crisil Nifty50 CurrentValueofStandardInvestment Balanced Fund ## (%) of`10000 in e AggressiveIndex Scheme( `) Benchmark Additional #(%) #( `) Benchmark##( `) Since Inception 15.07 NA 11.62 125,677 NA 72,598 Last 1 Year 18.09 16.88 24.34 Last 3 Years 10.09 7.35 5.98 Last 5 Years 13.33 11.02 11.70 Scheme Inception date is 25/11/1999. Mr. Abhishek Bisen has been managing e fund since 15/04/2008. Mr. Pankaj Tibrewal has been managing e fund since 25/08/2015. Different plans have different expense structure. The performance details provided herein are of regular plan. ^Past performance may or may not be sustained in future.*all payouts during e period have been reinvested in e units of e scheme at e en prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Grow Rate). N.A stands for data not available. Note: Point to Point (PTP) Returns in INR shows e value of `10,000/- investment made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark.Please refer page no. 29-30 for top 3 and bottom 3 schemes managed by Pankaj Tibrewal & Mr. Abhishek Bisen. Mutual Fund investments are subject to market risks, read all scheme related documents carefully. Scheme Information Document (SID) and Statement of Additional Information (SAI) available on mutualfund.kotak.com Dividend History Date CUM Dividend NAV Dividend ( ` per unit) Nov-27-17 17.1870 0.14 Oct-25-17 16.8647 0.11 Sep-25-17 16.4830 0.11 Aug-28-17 16.6866 0.11 Jul-25-17 17.1274 0.12 Jun-27-17 16.7970 0.11 May-25-17 16.8061 0.11 Apr-25-17 16.9880 0.11 Mar-27-17 16.4515 0.11 Feb-27-17 16.3220 0.11 Jan-25-17 16.0710 0.11 Dec-26-16 14.9970 0.10 Dec-01-16 15.6912 0.11 Oct-25-16 16.4100 0.08 Sep-26-16 16.2900 0.08 Aug-25-16 16.0150 0.08 July-25-16 15.8590 0.08 June-27-16 15.0860 0.08 May-25-16 14.7180 0.07 Apr-25-16 14.7740 0.07 Mar-29-16 14.2410 0.07 Feb-25-16 13.0750 0.07 Jan-27-16 13.9837 0.07 Dec-15-15 14.9360 0.07 Sep-28-15 14.9840 0.50 LOW Riskometer Moderate Investors understand at eir principal will be at moderately high risk HIGH This product is suitable for investors who are seeking*: Long term capital grow Investment in equity & equity related securities balanced wi income generation by investing in debt & money market instruments * Investors should consult eir financial advisors if in doubt about wheer e product is suitable for em. 14