Kotak Equity Arbitrage Fund - Direct Plan - Growth

Regular

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.
Direct

Regular and Direct options of the funds are exactly same except commission to your mutual fund broker/distributor. As an investor you do not need to pay any additional fees to purchase any of these options. However both have different expense ratios. Regular funds have higher expense ratio and direct funds have lower expense ratio. This difference is because of commission paid to broker/distributor. Lower expense ratio leads to higher returns for investors.

Category : Arbitrage Fund

Fund House : Kotak Mahindra Mutual Fund

NAV

This number shows latest NAV (Net Asset Value) and change in the NAV from previous day. NAV is nothing but the unit price for the fund. You will be allocated number of units based on this price. NAV is declared once each day generally at the end of the day. Once you invest in mutual funds, your money is further invested in stocks and bonds by mutual fund managers. Mutual Fund NAV is the per unit latest value of all such stocks/bonds held in the portfolio

: ₹ 28.4061 0.04%
(as on 18th November, 2019)

Crisil Rank

Average performance among peers

Fund Size

: ₹ 16197.95 Cr

(19.26% of Investment in Category)

Expense Ratio

: 0.45%

(0.47% Category average)

Risk-O-Meter

Moderately Low

Arbitrage Fund :Arbitrage Fund : Fund has 66.21% investment in indian stocks of which 55.47% is in large cap stocks, 8.41% is in mid cap stocks, 1.14% in small cap stocks.Fund has 7.38% investment in Debt of which , 7.38% in funds invested in very low risk securities..

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This Scheme

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Nifty 50

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NA
0.39%

1.44%

3.2%

6.49%

6.45%

7.04%

6.69%

NA
Gold

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Returns Calculator
SIP Calculator
VIP (Value Avg)

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Returns (NAV as on 18th November, 2019)

Period Invested for	₹10000 Invested on	Latest Value	Absolute Returns	Annualised Returns	Category Avg	Rank within Category
1 Week	11-Nov-19	10006.30	0.06%	-	0.06%	10/25
1 Month	18-Oct-19	10042.90	0.43%	-	0.39%	9/25
3 Month	16-Aug-19	10148.40	1.48%	-	1.44%	16/24
6 Month	17-May-19	10326.00	3.26%	-	3.20%	16/24
YTD	01-Jan-19	10605.70	6.06%	-	4.36%	14/24
1 Year	16-Nov-18	10675.00	6.75%	6.71%	6.49%	9/21
2 Year	17-Nov-17	11410.90	14.11%	6.81%	6.45%	6/18
3 Year	18-Nov-16	12131.60	21.32%	6.65%	6.35%	6/17
5 Year	18-Nov-14	14094.60	40.95%	7.10%	7.04%	7/15
Since Inception	07-Jan-13	16797.30	67.97%	7.85%	6.69%	3/25

Returns Calculator Detailed Returns Analysis

SIP Returns (NAV as on 18th November, 2019)

Period Invested for	₹1000 SIP Started on	Investments	Latest Value	Absolute Returns	Annualised Returns
1 Year	16-Nov-18	12000	12435.15	3.63 %	6.74 %
2 Year	17-Nov-17	24000	25725.38	7.19 %	6.81 %
3 Year	18-Nov-16	36000	39896.25	10.82 %	6.78 %
5 Year	18-Nov-14	60000	71295.33	18.83 %	6.83 %

SIP Calculator Detailed Returns Analysis

Tax Treatment

Portfolio (Updated on 31st Oct,2019)

Portfolio Turnover Ratio : 322.41% | Category average turnover ratio is 902.01%

Fund manager updated portfolio less frequently than peers in last 1 year. (I.e. fund manager held stocks/bonds in the portfolio for longer duration than peers)

Equity Holding : 66.21% | F&O Holdings : 0.00%| Foreign Equity Holdings : 0.00%| Total : 66.21%

No of Stocks : 123 (Category Avg - 73.75) | Large Cap Investments : 55.47%| Mid Cap Investments : 8.41% | Small Cap Investments : 1.14% | Other : 1.19%

Top 10 Stocks in Portfolio

How to read this table?

Stock Invested in	Sector	Value(Mn)	% of Total Holdings	1M Change	1Y Highest Holding	1Y Lowest Holding	Quantity	1M Change in Qty
Reliance Industries Ltd.	Refineries/marketing	7861.4	4.85%	0.28%	10.2% (Mar 2019)	3% (Nov 2018)	53.69 L	-1.08 L
Housing Development Finance Corporation Ltd.	Housing finance	7820.9	4.83%	0.32%	4.83% (Oct 2019)	1.54% (Nov 2018)	36.69 L	24.50 k
ITC Limited	Cigarettes	5150.9	3.18%	0.44%	3.19% (Jun 2019)	0.92% (Jan 2019)	2.00 Cr	31.44 L
Axis Bank Ltd.	Banks	4143.3	2.56%	0.98%	2.56% (Oct 2019)	0% (Feb 2019)	56.27 L	19.46 L
Infosys Ltd.	Computers - software	3566.5	2.20%	0.31%	3.02% (Mar 2019)	0.03% (May 2019)	52.02 L	14.52 L
Grasim Industries Limited	Cement	2879.9	1.78%	0.08%	2.51% (Mar 2019)	1.43% (Nov 2018)	37.46 L	18.75 k
Tech Mahindra Ltd.	Software -telecom	2836	1.75%	1.04%	1.75% (Oct 2019)	0.05% (Jan 2019)	38.38 L	22.54 L
Tata Consultancy Services Ltd.	Computers - software	2527.3	1.56%	-1.67%	3.23% (Sep 2019)	0.07% (Jan 2019)	11.14 L	-0.13 Cr
ICICI Bank Ltd.	Banks	2498.4	1.54%	-0.20%	1.74% (Sep 2019)	0.01% (Jun 2019)	53.96 L	-0.10 Cr
Bharat Petroleum Corporation Ltd.	Refineries/marketing	2253.1	1.39%	0.93%	1.39% (Oct 2019)	0% (Nov 2018)	42.79 L	27.18 L

- indicates change in weight in the portfolio. # indicates a new entry.

Detailed Portfolio Analysis

No of Debt Holding 5 (Category Avg - 7.79) | Modified Duration 0.08 Years (Category Avg - 0.57)| Yield to Maturity - -- (Category Avg - 6.20%)

Type of Holdings

Security Type	% Weight	Category Average
GOI	0.00%	0.00%
CD	0.00%	1.27%
T-Bills	0.00%	0.04%
CP	4.72%	1.97%
NCD & Bonds	2.66%	5.19%

Investment / Portfolio Grades

Security Type	% Weight	Category Average
Government Backed	0.00%	0.00%
Low Risk	7.38%	7.78%
Moderate Risk	0.00%	0.00%
High Risk	0.00%	0.00%
Very High Risk	0.00%	0.00%
Others	0.00%	0.00%

Detailed Portfolio Analysis

Name	Type of Instrument	Weight (%)
FD - HDFC Bank Ltd.	FD	10.60%
MF Units	MF Units	5.87%
FD - Axis Bank Ltd.	FD	3.90%
Net Receivables	Net Receivables	2.93%
MF Units	MF Units	1.05%

Detailed Portfolio Analysis

Risk Ratios

Ratios calculated on daily returns for last 3 years (Updated as on 31st October, 2019)

Standard Deviation
Standard Deviation value gives an idea about how volatile fund returns has been in the past 3 years. Lower value indicates more predictable performance. So if you are comparing 2 funds (lets say Fund A and Fund B) in the same category. If Fund A and Fund B has given 9% returns in last 3 years, but Fund A standard deviation value is lower than Fund B. So you can say that there is a higher chance that Fund A will continue giving similar returns in future also whereas Fund B returns may vary.

High volatility

0.94vs0.76

Category Avg
Beta
Beta value gives idea about how volatile fund performance has been compared to similar funds in the market. Lower beta implies the fund gives more predictable performance compared to similar funds in the market. So if you are comparing 2 funds (lets say Fund A and Fund B) in the same category. If Fund A and Fund B has given 9% returns in last 3 years, but Fund A beta value is lower than Fund B. So you can say that there is a higher chance that Fund A will continue giving similar returns in future also whereas Fund B returns may vary.

High volatility

1.06vs0.49

Category Avg
Sharpe Ratio
Sharpe ratio indicates how much risk was taken to generate the returns. Higher the value means, fund has been able to give better returns for the amount of risk taken. It is calculated by subtracting the risk-free return, defined as an Indian Government Bond, from the fund's returns, and then dividing by the standard deviation of returns. For example, if fund A and fund B both have 3-year returns of 15%, and fund A has a Sharpe ratio of 1.40 and fund B has a Sharpe ratio of 1.25, you can chooses fund A, as it has given higher risk-adjusted return.

Better risk adjusted returns

0.85vs0.39

Category Avg
Treynor's Ratio
Treynor's ratio indicates how much excess return was generated for each unit of risk taken. Higher the value means, fund has been able to give better returns for the amount of risk taken. It is calculated by subtracting the risk-free return, defined as an Indian Government Bond, from the fund's returns, and then dividing by the beta of returns. For example, if fund A and fund B both have 3-year returns of 15%, and fund A has a Treynor's ratio of 1.40 and fund B has a Treynor's ratio of 1.25, then you can chooses fund A, as it has given higher risk-adjusted return.

Better risk adjusted returns

0.01vs-0.03

Category Avg
Jension's Alpha
Alpha indicates how fund generated additional returns compared to a benchmark. Let's say if a fund A benchmarks its returns with Nifty50 returns then alpha equal to 1.0 indicates the fund has beaten the nifty returns by 1%, so the higher the alpha, the better.

Poor risk adjusted returns

-0.91vs-0.45

Category Avg

Alternative Funds (Category Peers)

Scheme Name	Crisil Rank	Asset Size (Cr)	1M	3M	6M	1Y	3Y
DSP Arbitrage fund - Direct Plan - Growth	5	809.78	0.44	1.52	3.52	7.18	0.00
Edelweiss Arbitrage Fund - Direct Plan - Growth	4	3854.06	0.42	1.62	3.45	7.04	6.83
IDFC Arbitrage Fund - Direct Plan - Growth	4	10890.80	0.41	1.47	3.37	7.00	6.74
Nippon India Arbitrage Fund - Direct Plan - Growth	3	9496.86	0.40	1.50	3.37	6.97	6.91
Aditya Birla Sun Life Arbitrage Fund - Direct Plan - Growth	NA	5149.87	0.44	1.57	3.46	6.89	6.66
UTI Arbitrage Fund - Direct Plan - Growth	4	2914.79	0.43	1.51	3.35	6.85	6.60
Axis Arbitrage Fund - Direct Plan - Growth	NA	2531.84	0.39	1.64	3.44	6.74	6.82
BNP Paribas Arbitrage Fund - Direct Plan - Growth	NA	662.25	0.42	1.54	3.28	6.73	0.00
ICICI Prudential Equity - Arbitrage Fund - Direct Plan - Growth	3	13391.87	0.40	1.44	3.27	6.67	6.61
SBI Arbitrage Opportunities Fund - Direct Plan - Growth	2	5208.09	0.34	1.33	3.25	6.65	6.51

Detailed Comparison

More Funds from Kotak Mahindra Mutual Fund

Out of 85 mutual fund schemes offered by this AMC, 2 is/are ranked 5 * , 7 is/are ranked 4 * , 12 is/are ranked 3 * , 2 is/are ranked 2 * , and 62 schemes are not ranked. See more about AMC

Scheme Name	Crisil Rank	Asset Size (Cr)	1M	3M	6M	1Y	3Y
Kotak Standard Multicap Fund - Direct Plan - Growth	4	28348.01	2.68	8.51	6.49	14.24	15.31
Kotak Liquid - Direct Plan - Growth	4	26459.34	0.44	1.39	3.10	6.82	6.93
Kotak Equity Arbitrage Fund - Direct Plan - Growth	3	16197.95	0.43	1.48	3.26	6.71	6.65
Kotak Savings Fund - Direct Plan - Growth	3	11280.56	0.61	1.94	4.22	8.76	7.71
Kotak Bond Short Term Plan - Direct Plan - Growth	3	9949.20	1.00	2.65	6.18	11.49	7.86
Kotak Money Market - Direct Plan - Growth	3	9027.39	0.57	1.86	4.08	8.54	7.57
Kotak Emerging Equity - Direct Plan - Growth	4	5341.15	3.49	9.89	7.58	10.45	11.64
Kotak Low Duration Fund - Direct Plan - Growth	3	5038.98	0.88	2.63	4.74	9.64	8.35
Kotak Credit Risk Fund - Direct Plan - Growth	5	4814.78	1.08	2.95	5.86	10.44	7.92
Kotak Corporate Bond Fund - Direct Plan - Growth	4	3431.86	0.91	2.58	5.58	10.73	8.24