FUNDS IN FOCUS MARCH 2018
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MARCH 2018 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 Infraructure & 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 Growth Scheme Month end AUM* (as on 31 Mar 2018) `296.75 crs Monthly Average AUM* `213.25 crs NAV (as on 28th Mar 2018) Dividend `19.2430 Direct Dividend `21.1920 Growth `47.2070 Direct Growth `50.4600 Launch Date 27th July 2005 Benchmark Nifty 100 TRI Min. Initial Inv. `5000 Additional Inv. `1000 & in multiples of `1 Standard Deviation^ 12.88% Beta^ 0.93 Sharpe^ 0.28 Portfolio Turnover 62.21% *Source: MFI Explorer. ^ as on 28th Mar, 2018. Source: Value Research. About Kotak Classic Equity Kotak Classic Equity is an open - ended equity growth scheme. The invement objective of the scheme is to generate capital appreciation from a diversified portfolio of equity and equity related securities. An open-ended diversified equity scheme with a focus on large caps. Market capitalization bias:(a) Largecap focused with normal allocation between 70%-90% and (b) Midcap allocation between 10%-30%. Equity Market Brief GST landmark reform is now implemented, and over the la few months, the government has introduced further changes to help the smaller firms navigate GST better. While there might be some near-term issues in implementing, the longer term benefits are transformative. Mo lied players will benefit, as they form the organised part of the economy, especially once the e-way bill is introduced in totality. After a prolonged period of under-delivery of Corporate Earnings, earnings are arting to improve across a broad spectrum of sectors. India to benefit from such reforms which encourages formalisation of the economy in the medium-to-long-term, significant flow from physical to financial savings to further provide ability to markets. Volatility across global equities is on lower side. Global events Fed hiking, trade wars, geopolitical events like the flare-up between US and North Korea to add to near-term volatility. In India as well, as we approach general elections, markets are likely to turn more volatile. Time in the market more important than timing the market after a long period of lower volatility, markets volatility may move up. Portfolio Action The fund has an overweight position in Media, Metals, Infraructure and Consumers while it is underweight in Pharma, BFSI and Auto. The conservative ance of the portfolio had benefitted the fund in the early part of FY17 as markets punished value ocks more than the quality ocks. The tilt from then has slowly changed as metal ocks, which represent the value set, found their way into the portfolio. We continue to believe that metals offer the maximum potential for positive earnings surprise in addition to the deleveraging ory going ahead. The fund also had sizeable position in IT which was slightly increased during the month. The lack of exposure to corporate lenders and PSU banks hurt the fund in the month of November as the government went for recapitalisation of PSU Banks but has over the longer period benefitted the fund. $ Market Cap % Large cap 76.60 Midcap 12.87 Small cap 1.47 Cash 9.06 $ The given market cap data is on the basis of new SEBI circular on scheme rationalisation wherein Stocks are categorised as per given AMFI li. Source: MFI Explorer. Market definition used is market capitalisation of the 100th large scrip (on the bases of market capitalisation) is the cutoff to determine the large cap and midcap segment. Load Structure Entry Load: Nil Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of invement:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of invement: NIL Any exit load charged (net off Service Tax, if any) shall be credited back to the respective Scheme. Units issued on reinvement of dividends shall not be subject to entry and exit load. Top 10 Sectors as on 31 Mar, 2018 Sector % Weight Underweight / Previous Change overweight Month in portfolio Portfolio Benchmark again (Portfolio % from previous (Nifty 100) benchmark Weight) month Financial Services Consumer Goods Information Technology Energy Cash & Cash Equivalent Automobile Others Conruction Metals Pharma 20.32 32.96-12.64 21.55-1.23 14.00 12.68 1.31 12.94 1.05 12.88 10.89 1.99 10.19 2.69 9.36 13.36-3.99 14.50-5.14 9.12 0.00 9.12 6.76 2.36 8.07 9.92-1.84 8.29-0.21 7.59 0.00 7.59 3.61 3.97 5.15 3.70 1.45 2.61 2.54 4.53 4.76-0.23 6.73-2.20 3.09 4.12-1.03 3.33-0.24 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 `1995.45 bn (as on ). KMAMC is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It arted operations in December 1998. KMMF offers schemes catering to inveors with varying risk - return profiles and was the fir fund house in the country to launch a dedicated gilt scheme. KMAMC manages assets worth `1,16,175.581cr as on. * The numbers are converted using the Rupee- USD reference rate published by the Reserve Bank of India as on the 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 growth scheme. Invement Objective: To generate capital appreciation from a diversified portfolio of equity and equity related securities. Kotak Classic Equity* Performance (%) as on 28th March, 2018 Date Top 10 Companies as on 31 Mar, 2018 Maruti Suzuki India Limited Auto 5.44% Larsen And Toubro Ltd. Conruction Project 5.12% Hinduan Unilever Ltd. Consumer Non Durables 4.97% HDFC Bank Ltd. Banks 4.94% Reliance Induries 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% Kotak Classic Equity Fund Scheme Returns Nifty 100 TRI Nifty 50 TRI Current Value of Standard Invement of ` 10000 in the (%) ^ # (%)* ## (%)* Scheme ( `) Benchmark # ( `) Additional Benchmark ## ( `) Since Inception 13.02 14.20 13.71 47,207 53,836 50,992 La 1 Year 16.42 12.22 11.76 11,642 11,222 11,176 La 3 Years 9.39 8.62 7.38 13,083 12,810 12,378 La 5 Years 15.54 14.97 13.63 20,598 20,091 18,954 Scheme Inception date is 27/07/2005. Mr. Deepak Gupta has been managing the fund since 01/01/2017. Different plans have different expense ructure. The performance details provided herein are of regular plan. ^Pa performance may or may not be suained in future.*all payouts during the period have been reinveed in the units of the scheme at the then prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Growth Rate). N.A ands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of `10,000/- invement 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. Deepak Gupta. *TRI Total Return Index With effect from 1 February 2018, we are comparing the performances of the funds with the total return variant of the benchmark inead of the price return variant. Mutual Fund invements 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 Hiory Date CUM Dividend Dividend NAV ( ` per unit) Mar-23-18 23.714 4.78 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 Inveors underand that their principal will be at moderately high risk HIGH This product is suitable for inveors who are seeking*: Long term capital growth Invement in portfolio of predominantly equity & equity related securities * Inveors should consult their financial advisors if in doubt about whether the product is suitable for them. 3
Kotak Tax Saver Scheme Facts Structure About Kotak Tax Saver An Open -Ended Equity Linked Saving Scheme Month end AUM* (as on 31 Mar 2018) `717.91 crs Monthly Average AUM* `708.33 crs NAV (as on 28th Mar 2018) The invement objective of Kotak Tax Saver is to generate long term capital appreciation from a diversified portfolio of equity and equity related securities and enable inveors to avail the income tax rebate, as permitted from time to time. The scheme thus offers a dual benefit of growth and tax savings. The scheme although open ended, has a three year lock-in. The portfolio is generally diversified across sectors and market capitalization segments. Dividend `18.4820 Dividend Direct `21.5850 Growth `39.8260 Growth Direct `42.6150 Launch Date rd 23 November 2005 Benchmark Nifty 500 TRI Min. Initial Inv. `500 Additional Inv. `500 & in multiples of `500 Standard Deviation^ 14.48% Beta^ 1.01 Sharpe^ Equity Market Brief GST landmark reform is now implemented, and over the la few months, the government has introduced further changes to help the smaller firms navigate GST better. While there might be some near-term issues in implementing, the longer term benefits are transformative. Mo lied players will benefit, as they form the organised part of the economy, especially once the e-way bill is introduced in totality. After a prolonged period of under-delivery of Corporate Earnings, earnings are arting to improve across a broad spectrum of sectors. India to benefit from such reforms which encourages formalisation of the economy in the medium-to-long-term, significant flow from physical to financial savings to further provide ability to markets. Volatility across global equities is on lower side. Global events Fed hiking, trade wars, geopolitical events like the flare-up between US and North Korea to add to near-term volatility. In India as well, as we approach general elections, markets are likely to turn more volatile. Time in the market more important than timing the market after a long period of lower volatility, markets volatility may move up. Portfolio Action The key overweight sectors in the portfolio are Cement, Oil&Gas and Capital Goods. The underweight sectors are IT and Auto. We are following ock specific approach in these sectors. Telecom sector continues to see headwinds, wherein the portfolio has no exposure. Large cap allocation in the portfolio is about 54%. 0.19 Portfolio Turnover 31.25% *Source: MFI Explorer. ^ as on 28th Mar, 2018. Source: Value Research. $ Market Cap % Large cap 54.22 Midcap 26.57 Small cap 16.63 Cash 2.57 $ The given market cap data is on the basis of new SEBI circular on scheme rationalisation wherein Stocks are categorised as per given AMFI li. Source: KPAX (internal syem). Market definition used is market capitalisation of the 100th large scrip (on the bases of market capitalisation) is the cutoff to determine the 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 reinvement of dividends shall not be subject to exit load (applicable for all plans) Top 10 Sectors as on 31 Mar, 2018 Sector % Weight Underweight / Previous Change overweight Month in portfolio Portfolio Benchmark again (Portfolio % from previous (Nifty 500) benchmark Weight) month Financial Services Energy Consumer Goods Conruction Cement & Cement Products Indurial Manufacturing Information Technology Metals Pharma Services 27.33 30.74-3.41 28.42-1.10 15.59 11.69 3.90 16.36-0.78 10.82 12.82-2.00 10.59 0.23 6.99 4.51 2.48 7.01-0.02 6.45 2.26 4.20 6.65-0.20 5.81 2.79 3.02 5.95-0.14 3.57 9.65-6.08 3.24 0.32 3.34 4.13-0.79 3.50-0.16 2.87 4.62-1.75 3.04-0.17 2.87 2.61 0.26 3.08-0.21 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 `1995.45 bn (as on ). KMAMC is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It arted operations in December 1998. KMMF offers schemes catering to inveors with varying risk - return profiles and was the fir fund house in the country to launch a dedicated gilt scheme. KMAMC manages assets worth `1,16,175.581cr as on. * The numbers are converted using the Rupee- USD reference rate published by the Reserve Bank of India as on the 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. Invement Objective: To generate long-term capital appreciation from a diversified portfolio of equity and equity related securities and enable inveors to avail the income tax rebate, as permitted from time to time. The amount inveed in the scheme shall be subject to a lock-in of 3 years irrespective of whether the invements would be eligible for tax benefit or not. The above does not conitute and advice or a representation. Inveors are requeed to seek professional advice in this regard. Kotak Mahindra Bank Limited is not liable or responsible for any loss or short fall resulting from the operations of the scheme. Mutual Fund invements 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 Top 10 Companies as on 31 Mar, 2018 HDFC Bank Ltd. Banks 6.31% Reliance Induries Ltd. Petroleum Products 5.09% Larsen And Toubro Ltd. Conruction 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 Indurial Products 2.45% Kotak Tax Saver* Performance (%) as on 28th March, 2018 Date Kotak Tax Saver Scheme Nifty 500 Nifty 50 Current Value of Standard Invement Returns TRI TRI of ` 10000 in the (%) ^ # (%)* ## (%)* Scheme ( `) Benchmark # ( `) Additional Benchmark ## ( `) Since Inception 11.84 13.13 12.97 39,826 45,900 45,075 La 1 Year 6.25 12.87 11.76 10,625 11,287 11,176 La 3 Years 8.26 9.83 7.38 12,684 13,240 12,378 La 5 Years 16.89 16.31 13.63 21,831 21,292 18,954 Scheme Inception date is 23/11/2005. Mr. Harsha Upadhyaya has been managing the fund since 25/08/2015. Different plans have different expense ructure. The performance details provided herein are of regular plan. ^Pa performance may or may not be suained in future.*all payouts during the period have been reinveed in the units of the scheme at the then prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Growth Rate). N.A ands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of `10,000/- invement made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Please refer page no. 29 for other schemes managed by Mr. Harsha Upadhyay. *TRI Total Return Index With effect from 1 February 2018, we are comparing the performances of the funds with the total return variant of the benchmark inead of the price return variant. LOW Riskometer Moderate Inveors underand that their principal will be at moderately high risk HIGH This product is suitable for inveors who are seeking*: long term capital growth with a 3 year lock in Invement in portfolio of predominantly equity & equity related securities. * Inveors should consult their financial advisors if in doubt about whether the product is suitable for them. Dividend Hiory Date CUM Dividend Dividend NAV ( ` per unit) Mar-23-18 18.583 0.38 Dec-29-17 20.848 0.40 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 5
Kotak Select Focus Scheme Facts Structure An Open Ended Equity Scheme Month end AUM* (as on 31 Mar 2018) `17,853.35 crs Monthly Average AUM* `17,652.73 crs NAV (as on 28th Mar 2018) Dividend `22.6910 Direct Dividend `24.0460 Growth `31.8170 Direct Growth `33.4770 Launch Date th 11 September 2009 Benchmark Nifty 200 TRI 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^ 13.63% Beta^ 0.97 Sharpe^ 0.43 Portfolio Turn over 14.81% *Source: MFI Explorer. ^ as on 28th Mar, 2018. Source: Value Research. $ Market Cap % Large cap 76.51 Midcap 14.51 Small cap 3.08 Cash 5.91 $ The given market cap data is on the basis of new SEBI circular on scheme rationalisation wherein Stocks are categorised as per given AMFI li. Source: KPAX (internal syem). Market definition used is market capitalisation of the 100th large scrip (on the bases of market capitalisation) is the cutoff to determine the large cap and midcap segment. Load Structure Entry Load: Nil Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of invement:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of invement: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the respective Scheme. (applicable for all plans) iv) Units issued on reinvement of dividends shall not be subject to exit load (applicable for all plans) About Kotak Select Focus The invement 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 that are likely to do well over the medium term and takes focus exposures to the same. There is no reriction on which type of sectors the scheme can take exposure to and the portfolio will be generally diversified at the ock level across market capitalization. The scheme is well positioned to capture various themes that are in flavour in a focused manner. Equity Market Brief GST landmark reform is now implemented, and over the la few months, the government has introduced further changes to help the smaller firms navigate GST better. While there might be some near-term issues in implementing, the longer term benefits are transformative. Mo lied players will benefit, as they form the organised part of the economy, especially once the e-way bill is introduced in totality. After a prolonged period of under-delivery of Corporate Earnings, earnings are arting to improve across a broad spectrum of sectors. India to benefit from such reforms which encourages formalisation of the economy in the medium-to-long-term, significant flow from physical to financial savings to further provide ability to markets. Volatility across global equities is on lower side. Global events Fed hiking, trade wars, geopolitical events like the flare-up between US and North Korea to add to near-term volatility. In India as well, as we approach general elections, markets are likely to turn more volatile. Time in the market more important than timing the market after a long period of lower volatility, markets volatility may move up. Portfolio Action The portfolio continues to have a pro-cyclical tilt. Domeic businesses with operating leverage continue dominate the portfolio as compared to export/ global businesses due to better earnings trajectory. The top overweight sectors in the fund are Cement, Financials and Capital Goods. We believe that Government s focus on reviving consumption and spending on infraructure will create positive demand scenario for our portfolio companies in medium term. Recent budget proposals are positive for Insurance companies that are significant part of the portfolio. The key underweight sectors are IT and FMCG. Utilities and Telecom sectors are the major exclusions from the fund. Allocation to large cap segment accounts for about 3/4th of the total corpus. Top Sectors as on 31 Mar, 2018 Sector % Weight Underweight / Previous Change overweight Month in portfolio Portfolio Benchmark again (Portfolio % from previous (Nifty 200) benchmark Weight) month Financial Services Energy Automobile Consumer Goods Cement & Cement Products Cash & Cash Equivalent Conruction Information Technology 35.19 32.45 2.74 34.93 0.26 13.58 12.57 1.01 14.49-0.90 9.92 9.41 0.51 10.02-0.10 7.22 12.43-5.21 7.20 0.02 6.96 2.21 4.75 7.27-0.30 5.91 0.00 5.91 6.64-0.74 5.89 3.99 1.90 5.88 0.01 3.31 10.12-6.82 2.62 0.69 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 `1995.45 bn (as on ). KMAMC is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It arted operations in December 1998. KMMF offers schemes catering to inveors with varying risk - return profiles and was the fir fund house in the country to launch a dedicated gilt scheme. KMAMC manages assets worth `1,16,175.581cr as on. * The numbers are converted using the Rupee- USD reference rate published by the Reserve Bank of India as on the 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. Invement Objective: The invement 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. Top 10 Companies as on 31 Mar, 2018 HDFC Bank Ltd. Banks 7.40% Larsen And Toubro Ltd. Conruction Project 5.51% Reliance Induries 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% Kotak Select Focus* Performance (%) as on 28th March, 2018 Date Kotak Select Focus Fund Scheme Nifty 200 Nifty 50 Current Value of Standard Invement Returns TRI TRI of ` 10000 in the (%) ^ #(%)* ## (%)* Scheme ( `) Benchmark #( `) Additional Benchmark ## ( `) Since Inception 14.50 11.08 10.33 31,817 24,547 23,166 La 1 Year 10.70 12.42 11.76 11,070 11,242 11,176 La 3 Years 11.76 9.09 7.38 13,949 12,974 12,378 La 5 Years 21.16 15.56 13.63 26,118 20,613 18,954 Scheme Inception date is 11/09/2009. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Different plans have different expense ructure. The performance details provided herein are of regular plan. ^Pa performance may or may not be suained in future.*all payouts during the period have been reinveed in the units of the scheme at the then prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Growth Rate). N.A ands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of `10,000/- invement made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Please refer page no. 29 for schemes managed by Mr. Harsha Upadhyaya. *TRI Total Return Index With effect from 1 February 2018, we are comparing the performances of the funds with the total return variant of the benchmark inead of the price return variant. Mutual Fund invements 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 Hiory 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 LOW Riskometer Moderate Inveors underand that their principal will be at moderately high risk HIGH This product is suitable for inveors who are seeking*: Long term capital growth Invement in portfolio of predominantly equity & equity related securities generally focussed on a few selected sectors. * Inveors should consult their financial advisors if in doubt about whether the product is suitable for them. 7
Kotak Opportunities Scheme Facts Structure An Open Ended Equity Growth Scheme Month end AUM* (as on 31 Mar 2018) `2,356.05 crs Monthly Average AUM* `2,352.87 crs NAV (as on 28th Mar 2018) Dividend `25.6530 Dividend Direct `27.3940 Growth `111.3650 Growth Direct `117.6140 Launch Date th 9 September 2004 Benchmark Nifty 500 TRI Min. Initial Inv. `5000 Additional Inv. `1000 & in multiples of `1 Standard Deviation^ 13.98% Beta^ 0.98 Sharpe^ 0.34 Portfolio Turn over 32.07% *Source: MFI Explorer. ^ as on 28th Mar, 2018. Source: Value Research. $ Market Cap % About Kotak Opportunities Kotak Opportunities looks for opportunities across sectors based on performance and potential of companies within the sectors. The fund manager has the flexibility to inve in a mix of large and mid cap ocks from various sectors. The allocation between large caps & midcaps would broadly depend on the choice of sectors, business environment & valuations. Equity Market Brief GST landmark reform is now implemented, and over the la few months, the government has introduced further changes to help the smaller firms navigate GST better. While there might be some near-term issues in implementing, the longer term benefits are transformative. Mo lied players will benefit, as they form the organised part of the economy, especially once the e-way bill is introduced in totality. After a prolonged period of under-delivery of Corporate Earnings, earnings are arting to improve across a broad spectrum of sectors. India to benefit from such reforms which encourages formalisation of the economy in the medium-to-long-term, significant flow from physical to financial savings to further provide ability to markets. Volatility across global equities is on lower side. Global events Fed hiking, trade wars, geopolitical events like the flare-up between US and North Korea to add to near-term volatility. In India as well, as we approach general elections, markets are likely to turn more volatile. Time in the market more important than timing the 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 that have operating leverage. The top overweight sectors are Cement, Oil&Gas and Indurials. Partial profit booking was carried out in Oil&Gas sector during the month. However, the sector continues to have an overweight exposure. Telecom sector continues to see headwinds, wherein the portfolio has no exposure. Key underweight sectors are IT, Auto and Pharma. Large, mid and small cap exposures are 53%, 33% and 11% respectively. Large cap 53.11 Midcap 33.28 Small cap 11.51 Cash 2.10 $ The given market cap data is on the basis of new SEBI circular on scheme rationalisation wherein Stocks are categorised as per given AMFI li. Source: KPAX (internal syem). Market definition used is market capitalisation of the 100th large scrip (on the bases of market capitalisation) is the cutoff to determine the large cap and midcap segment. Load Structure Entry Load: Nil Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of invement:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of invement: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the respective Scheme. (applicable for all plans) iv) Units issued on reinvement of dividends shall not be subject to exit load (applicable for all plans) Top 10 Sectors as on 31 Mar, 2018 Sector % Weight Underweight / Previous Change overweight Month in portfolio Portfolio Benchmark again (Portfolio % from previous (Nifty 500) benchmark Weight) month Financial Services Energy Consumer Goods Cement & Cement Products Indurial Manufacturing Conruction Fertilisers & Peicides Automobile Information Technology Services 28.96 30.74-1.78 29.01-0.05 14.67 11.69 2.98 15.27-0.60 13.15 12.82 0.33 12.87 0.28 6.69 2.26 4.43 6.83-0.14 6.19 2.79 3.40 5.74 0.45 5.15 4.51 0.65 5.10 0.05 4.01 0.96 3.05 4.01 0.00 3.95 8.87-4.92 3.93 0.03 2.65 9.65-7.00 2.68-0.03 2.58 2.61-0.03 2.64-0.06 8
Kotak Opportunities Dividend Hiory Date CUM Dividend NAV Feb-27-18 27.3670 0.83 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 Dividend ( ` per unit) 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 `1995.45 bn (as on ). KMAMC is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It arted operations in December 1998. KMMF offers schemes catering to inveors with varying risk - return profiles and was the fir fund house in the country to launch a dedicated gilt scheme. KMAMC manages assets worth `1,16,175.581cr as on. * The numbers are converted using the Rupee- USD reference rate published by the Reserve Bank of India as on the respective dates. Top 10 Companies as on 31 Mar, 2018 HDFC Bank Ltd. Banks 6.00% Reliance Induries Ltd. Petroleum Products 4.31% Larsen And Toubro Ltd. Conruction 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% Kotak Opportunities* Performance (%) as on 28th March, 2018 Date Kotak Opportunities Scheme Nifty 500 Nifty 50 Current Value of Standard Invement Returns TRI TRI of ` 10000 in the (%) ^ # (%)* ## (%)* Scheme ( `) Benchmark # ( `) Additional Benchmark ## ( `) Since Inception 19.46 16.10 15.76 111,365 75,659 72,691 La 1 Year 9.25 12.87 11.76 10,925 11,287 11,176 La 3 Years 10.46 9.83 7.38 13,470 13,240 12,378 La 5 Years 19.26 16.31 13.63 24,141 21,292 18,954 Scheme Inception date is 09/09/2004. Mr. Harsha Upadhyaya has been managing the fund since 04/08/2012. Different plans have different expense ructure. The performance details provided herein are of regular plan. ^Pa performance may or may not be suained in future.*all payouts during the period have been reinveed in the units of the scheme at the then prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Growth Rate). N.A ands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of `10,000/- invement made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Please refer page no. 29 for other schemes managed by Mr. Harsha Upadhyaya. *TRI Total Return Index With effect from 1 February 2018, we are comparing the performances of the funds with the total return variant of the benchmark inead of the price return variant. 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 Opportunities is an open-ended equity growth scheme. Invement Objective: To generate capital appreciation from a diversified portfolio of equity & equity related inruments Mutual Fund invements 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 LOW Riskometer Moderate Inveors underand that their principal will be at moderately high risk HIGH This product is suitable for inveors who are seeking*: Long term capital growth Invement in portfolio of predominantly equity & equity related securities * Inveors should consult their financial advisors if in doubt about whether the product is suitable for them. 9
Kotak Emerging Equity Scheme Facts Structure An Open - Ended Equity Growth Scheme Month end AUM* (as on 31 Mar 2018) `3,005.06 crs Monthly Average AUM* `2,997.20 crs NAV (as on 28th Mar 2018) Dividend `23.9260 Direct Dividend `27.5440 Growth `38.9920 Direct Growth `41.3780 Launch Date 30th March 2007 Benchmark S&P BSE Mid Small Cap TRI Min. Initial Inv. `5000 Additional Inv. `1000 & in multiples of `1 Standard Deviation^ 15.03% Beta^ 0.86 Sharpe^ 0.59 Portfolio Turnover 32.70% *Source: MFI Explorer. ^ as on 28th Mar, 2018. Source: Value Research. $ Market Cap % Large cap 11.94 Midcap 53.82 Small cap 31.83 Cash 2.41 $ The given market cap data is on the basis of new SEBI circular on scheme rationalisation wherein Stocks are categorised as per given AMFI li. Source: Value Research definition. Load Structure Entry Load: Nil Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of invement:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of invement: NIL Any exit load charged (net off Service Tax, if any) shall be credited back to the respective Scheme. Units issued on reinvement of dividends shall not be subject to entry and exit load. About Kotak Emerging Equity The invement objective of Kotak Emerging Equity is to generate long-term capital appreciation from a portfolio of equity and equity related securities, by inveing predominantly in mid and small cap companies. These companies are either at their nascent or developing age and are under researched. Although relatively volatile in the short run, small and mid cap companies have the potential to deliver higher growth in the long term. Equity Market Brief GST landmark reform is now implemented, and over the la few months, the government has introduced further changes to help the smaller firms navigate GST better. While there might be some near-term issues in implementing, the longer term benefits are transformative. Mo lied players will benefit, as they form the organised part of the economy, especially once the e-way bill is introduced in totality. After a prolonged period of under-delivery of Corporate Earnings, earnings are arting to improve across a broad spectrum of sectors. India to benefit from such reforms which encourages formalisation of the economy in the medium-to-long-term, significant flow from physical to financial savings to further provide ability to markets. Volatility across global equities is on lower side. Global events Fed hiking, trade wars, geopolitical events like the flare-up between US and North Korea to add to near-term volatility. In India as well, as we approach general elections, markets are likely to turn more volatile. Time in the market more important than timing the 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, Indurial Manufacturing, speciality chemicals & consumer discretionary. We believe that this year would be a ock picker s year. La year 90% of the BSE 500 ocks gave positive return which is not going to be repeated in our view. Ground indicators are suggeing rong pick as seen from CV sales, diesel consumption, bank credit growth, airlines passenger growth, order book of infra/capital good companies, rong cement volumes growth, eel prices rising to 9year high and capacity utilisation at 84%. However would rong earnings lead to better market performance? In the short term we believe the GST implementation could be a disruptor for B2C businesses. However from a medium term perspective po GST implementation, we anticipate that the organized players would become ronger as unorganized sector would find it tough to do business in the changed environment and cede market share to more organized players and portfolio is well positioned in those sectors where there is a large portion of unorganized players. The portfolio is well positioned to ride on this theme from a medium term perspective. In the IT and pharma sector we continue to have ock specific approach and continue to have UW ance on both the sectors. During the month the broader allocation remains largely unchanged with marginal reduction in Indurials and marginal increase in cement and chemicals. We expect Kotak Emerging Equity as a portfolio should deliver 30% and 22% earnings growth in FY19E & FY20E based on current set of ocks and the portfolio is trading at a P/E 20x and 16.5x for FY19E and FY20E. Top 10 Sectors as on 31 Mar, 2018 Sector % Weight Underweight / Previous Change overweight Month in portfolio Portfolio Benchmark again (Portfolio % from previous S&P BSE Mid benchmark Weight) month Small Cap Index Financial Services Indurial Manufacturing Consumer Goods Pharma Chemicals Automobile Services Conruction Cement & Cement Products Textiles 21.11 18.70 2.41 21.11 0.00 19.68 10.38 9.30 20.20-0.52 15.92 13.82 2.11 15.88 0.05 5.95 7.75-1.80 5.75 0.19 5.58 3.45 2.12 5.34 0.24 4.57 7.09-2.53 4.61-0.05 4.15 7.31-3.16 4.34-0.20 4.12 6.31-2.19 4.06 0.06 2.90 2.74 0.16 2.74 0.16 2.64 2.73-0.08 2.71-0.07 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 `1995.45 bn (as on ). KMAMC is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It arted operations in December 1998. KMMF offers schemes catering to inveors with varying risk - return profiles and was the fir fund house in the country to launch a dedicated gilt scheme. KMAMC manages assets worth `1,16,175.581cr as on. * The numbers are converted using the Rupee- USD reference rate published by the Reserve Bank of India as on the 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 growth scheme. Invement Objective: The invement objective of the scheme is to generate long-term capital appreciation from a portfolio of equity and equity related securities, by inveing predominantly in mid and small cap companies. Mutual Fund invements 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 Hiory Date CUM Dividend Dividend NAV ( ` per unit) Mar-23-18 26.153 2.67 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 Kotak Emerging Equity*Performance (%) as on 28th March, 2018 Date Top 10 Companies as on 31 Mar, 2018 IndusInd Bank Ltd. Banks 3.99% Schaeffler India Ltd Indurial 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 Induries Limited Indurial Products 2.51% Solar Induries India Limited Chemicals 2.48% Finolex Cables Ltd. Indurial Products 2.39% Shriram City Union Finance Ltd. Finance 2.31% Kotak Emerging Equity Fund Scheme S&P BSE Nifty 50 Current Value of Standard Invement Returns Mid Small TRI of ` 10000 in the (%) ^ Cap TRI ## (%)* Scheme ( `) Benchmark Additional Index # (%)* # ( `) Benchmark ## ( `) Since Inception 13.16 13.46 10.54 38,992 40,137 30,104 La 1 Year 11.01 16.75 11.76 11,101 11,675 11,176 La 3 Years 14.86 15.99 7.38 15,140 15,592 12,378 La 5 Years 26.57 22.73 13.63 32,504 27,858 18,954 Scheme Inception date is 30/03/2007. Mr. Pankaj Tibrewal has been managing the fund since 27/05/2010. Different plans have different expense ructure. The performance details provided herein are of regular plan. ^Pa performance may or may not be suained in future.*all payouts during the period have been reinveed in the units of the scheme at the then prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Growth Rate). N.A ands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of `10,000/- invement made at inception. Source: ICRA MFI Explorer. # Name of Scheme Benchmark. ## Name of Additional Benchmark. Please refer page no. 29 for other schemes managed by Mr. Pankaj Tibrewal. *TRI Total Return Index With effect from 1 February 2018, we are comparing the performances of the funds with the total return variant of the benchmark inead of the price return variant. LOW Riskometer Moderate Inveors underand that their principal will be at moderately high risk HIGH This product is suitable for inveors who are seeking*: Long term capital growth Invement in equity & equity related securities predominantly in mid & small cap companies * Inveors should consult their financial advisors if in doubt about whether the product is suitable for them. 11
HYBRID FUNDS EQUITY DEBT
Kotak Balance Scheme Facts Structure An Open- Ended Balanced Scheme Month end AUM* (as on 31 Mar 2018) `2,167.03 crs Monthly Average AUM* `2,190.37 crs NAV (as on 28th Mar 2018) Dividend `16.1500 Direct Dividend `17.5700 Growth `23.8050 Direct Growth `25.3880 Launch Date th 25 November 1999 Benchmark Crisil Hybrid 35+65 - Aggressive Index Min. Initial Inv. `5000 Additional Inv. `1000 & in multiples of `1 Standard Deviation^ 10.69% Beta^ 1.15 Sharpe^ 0.23 Portfolio Turn over 33.96% *Source: Value Research. ^ as on 28th Mar, 2018. Source: Value Research. Load Structure Entry Load: Nil Exit Load: I) For redemptions / switch outs (including SIP/STP) within 1 year from the date of allotment of units, irrespective of the amount of invement:1% ii) For redemptions / switch outs (including SIP/STP) after 1 year from the date of allotment of units, irrespective of the amount of invement: NIL iii) Any exit load charged (net off Service Tax, if any) shall be credited back to the respective Scheme. (applicable for all plans) About Kotak Balance The invement objective of Kotak Balance is to achieve growth by inveing in equity and equity related inruments, balanced with income generation by inveing in debt and money market inruments. The scheme thus provides capital appreciation potential of equities as well as able returns of debt. Equity Market Brief GST landmark reform is now implemented, and over the la few months, the government has introduced further changes to help the smaller firms navigate GST better. While there might be some near-term issues in implementing, the longer term benefits are transformative. Mo lied players will benefit, as they form the organised part of the economy, especially once the e-way bill is introduced in totality. After a prolonged period of under-delivery of Corporate Earnings, earnings are arting to improve across a broad spectrum of sectors. India to benefit from such reforms which encourages formalisation of the economy in the medium-to-long-term, significant flow from physical to financial savings to further provide ability to markets. Volatility across global equities is on lower side. Global events Fed hiking, trade wars, geopolitical events like the flare-up between US and North Korea to add to near-term volatility. In India as well, as we approach general elections, markets are likely to turn more volatile. Time in the market more important than timing the 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 the IT and pharma sector we continue to have ock specific approach. The fund continues the underweight ance on consumer aples, IT and Pharma. During the months we marginally increased weightage to financials (private sector banks), capital goods, pipe sector, conruction and consumer discretionary sector. In the short term we believe the GST implementation could be a disruptor for B2C businesses. However from a medium term perspective po GST implementation, we anticipate that the organized players would become ronger as unorganized sector would find it tough to do business in the changed environment and cede market share to more organized players and portfolio is well positioned in those sectors where there is a large portion of unorganized players. The current largecap (above 20,000 crs market cap): midcap ratio remains at 65:35 in the fund. We expect equity portion of Kotak balance fund to deliver 31% and 26% earnings growth in FY19E & FY20E based on current set of ocks and the portfolio is trading at a P/E 20x and 16x for FY19E and FY20E. Debt: As on 31 Mar 2018, ~46% of the debt part of the scheme portfolio comprised of government securities (central as well as ate). The remaining 54% was held in the form of Money market securities, corporate bonds and cash. In the la week of March 2018, the government announced a reduction in its gross borrowings for FY19 and also slashed its H1FY19 borrowing to ~47% of the annual target. In addition to this, the RBI at its fir bi-monthly policy meeting for FY19, on April 5th 2018, chose to maintain rates and took a dovish ance. These events combined, caused the sovereign yields to rally from a recent high of 7.80% to as low as 7.10%. One may presume that reduction of borrowing in an election year may mean that the Government is positive on GST collection. Further, the government has changed its pattern of borrowing for FY19. The supply pattern of bonds has shifted from the 10-14 year bucket to the 1-9 year bucket. This is expected to cause some flattening of the sovereign curve in the 3 12 year bucket. We expect the headline inflation to peak by June. Monsoons, MSP and crude prices will be the key determinants for H2FY19 headline inflation. Further, Prompt & Corrective Action (PCA) category public sector banks recalling their Basel-III compliant Additional Tier I perpetual bonds, there is going to be a great demand for high yielding assets and especially for the outanding bank perpetual bonds. In light of market development, going forward, we will look to run aggressive accrual allocation and would be low on duration as it is causing unwanted volatility in the portfolio. We will look to increase duration as and when there are clear signs of inflation peaking and a simultaneous peak in yields. We expect this to happen in the next quarter or so. We will be on the lookout for high yielding assets and create an optimal portfolio mix. iv) Units issued on reinvement of dividends shall not be subject to exit load (applicable for all plans) Top 10 Sectors as on 31 Mar, 2018 Others Software Chemicals Indurial Products Finance Cement Consumer Non Durables Auto Government Dated Securities Banks Debentures and Bonds 3.13 3.34 4.16 4.96 5.35 5.48 6.94 10.17 15.18 18.16 23.13 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 `1995.45 bn (as on ). KMAMC is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). It arted operations in December 1998. KMMF offers schemes catering to inveors with varying risk - return profiles and was the fir fund house in the country to launch a dedicated gilt scheme. KMAMC manages assets worth `1,16,175.581cr as on. * The numbers are converted using the Rupee- USD reference rate published by the Reserve Bank of India as on the 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. Invement Objective: To achieve growth by inveing in equity & equity related inruments, balanced with income generation by inveing in debt & money market inruments. Mutual Fund invements 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 Top 10 Companies as on 31 Mar, 2018 Bank of India CRISIL A+ 5.06% 7.17% Central Government SOV 4.77% Allahabad Bank BRICKWORK BWR A- 3.53% United Bank Of India CRISIL AA- 3.43% 6.68% Central Government SOV 3.37% HDFC Bank Ltd. Banks 3.27% Shree Cement Ltd. Cement 2.35% State Bank Of India Banks 2.18% U P Power Corporation Ltd CRISIL A+(SO) 1.99% Schaeffler India Ltd Indurial Products 1.95% Kotak Balance* Performance (%) as on 28th March, 2018 Date Kotak Balance Different plans have different expense ructure. The performance details provided herein are of regular plan. ^Pa performance may or may not be suained in future.*all payouts during the period have been reinveed in the units of the scheme at the then prevailing NAV. Returns > = 1 year: CAGR (Compounded Annualised Growth Rate). N.A ands for data not available. Note: Point to Point (PTP) Returns in INR shows the value of `10,000/- invement 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 Pankaj Tibrewal & Mr. Abhishek Bisen. ^The exiing benchmark CRISIL Balanced Fund has been renamed as CRISIL Hybrid 35+65 - Aggressive Index as per communication received from CRISIL. *TRI Total Return Index Scheme Returns CRISIL Hybrid35 +65 Nifty50 TRI CurrentValueofStandardInvement of`10000 in the (%)^ AggressiveIndex ##(%)* Scheme( `) Benchmark Additional #(%)^ #( `) Benchmark##( `) Since Inception 14.67 NA 12.91 123,244 NA 92,837 La 1 Year 6.27 9.96 11.76 10,627 10,996 11,176 La 3 Years 8.39 9.12 7.38 12,728 12,987 12,378 La 5 Years 12.77 13.46 13.63 18,245 18,810 18,954 Scheme 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. With effect from 1 February 2018, we are comparing the performances of the funds with the total return variant of the benchmark inead of the price return variant *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 31 July 2006 and TRI values is used since 1 Aug 2006. Dividend Hiory Date CUM Dividend NAV Dividend ( ` per unit) Mar-26-18 16.2295 0.14 Feb-26-18 16.8210 0.14 Jan-25-18 17.6320 0.14 Dec-26-17 17.4978 0.14 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 LOW Riskometer Moderate Inveors underand that their principal will be at moderately high risk HIGH This product is suitable for inveors who are seeking*: Long term capital growth Invement in equity & equity related securities balanced with income generation by inveing in debt & money market inruments * Inveors should consult their financial advisors if in doubt about whether the product is suitable for them. 14