Kotak Mutual Fund, founded in 1998, has grown significantly over the years, expanding its product range. It’s the 5th largest mutual fund house in India managing assets worth Rs 5.8 trillion (tn) as of 31 October 2025.
The equity schemes of Kotak Mutual Fund are known for their prudent stock and sector selections that have worked in favour of investors over the long run.
Here are the key factors that characterise Kotak AMC:
- Kotak AMC aims to invest in stocks priced at a material discount to their intrinsic value, as assessed by the fund manager.
- Intrinsic value discovery is driven by in-house research, supplemented by external sources.
- The fund house typically utilises a blend of top-down and bottom-up strategy to pick stocks.
- Key factors guiding stock selection include financial parameters of the company, reputation of the management and their track record, companies that are less prone to recessions or cycles, companies that pursue a strategy to build strong brands for their products or services, market liquidity of the stock, low leverage, high return ratios & cash flows and competent management.
- The fund house prefers investing in fundamentally sound stocks instead of chasing momentum, which helps mitigate risks.
On that note, let’s look at the top 3 equity schemes from Kotak Mutual Fund.
We have shortlisted these schemes based on combined quantitative score which includes 6-month, 1-year, 3-year, and 5-year rolling returns along with risk-reward ratios such as standard deviation, sharpe, sortino, and up/down capture ratio.
#1 Kotak Contra Fund
Launched in July 2005, Kotak India EQ Contra Fund is a contra-style fund that leverages both fundamental analysis and quantitative model to make high-conviction investment decisions.
Kotak India EQ Contra Fund typically invests with a medium to long-term view which allows its contrarian opportunities adequate time to pay off.
It looks for high-potential stocks that are out of favour and balances out the emotional quotient of the fund manager through the quant model.
In the last 5 years, Kotak Contra Fund grew at a CAGR of 25.4% on a rolling return basis compared to 21.3% in the NIFTY 500 – TRI index.
Performance Snapshot – Kotak Contra Fund
| Scheme Name | 1 Yr (%) | 3 Yr (%) | 5 Yr (%) | 10 Yr (%) | Std Dev | Sharpe | Sortino |
| Kotak Contra Fund | 8.83 | 22.79 | 25.38 | 16.81 | 12.78 | 0.37 | 0.77 |
| NIFTY 500 – TRI | 6.67 | 16.29 | 21.33 | 13.74 | 12.49 | 0.25 | 0.50 |
Source: ACE MF
As of 31 October 2025, the fund invested 53.5% of its assets in largecaps, 27.6% in midcaps, and 14.1% in smallcaps.
The fund’s top stocks are HDFC Bank (6.9%), ICICI Bank (4.8%), and SBI (3.6%).
Its top sectors are banks (21.9%), finance (10.1%), and infotech (9.1%).
With well-defined investment systems and processes in place, Kotak India EQ Contra Fund selectively identifies overlooked yet fundamentally sound companies across segments.
The fund is averse to taking high risk for high returns and instead, focuses on quality stocks and sectors with a medium to long-term view.
#2 Kotak Midcap Fund
Launched in in March 2007, Kotak Midcap Fund has aimed to uncover the untapped growth potential of mid-sized companies by utilising a bottom-up approach.
It seeks to invest in companies that are either at their nascent or developing stage and are under-researched but have the potential to deliver higher growth in the long term.
Over the years, the fund has established itself as a strong contender, delivering returns that surpass the category average over longer time periods.
In the last 5 years, Kotak Midcap Fund grew at a CAGR of 29.4% on a rolling return which is nearly in line with the Nifty Midcap 150 – TRI index.
Performance Snapshot – Kotak Midcap Fund
| Scheme Name | 1 Yr (%) | 3 Yr (%) | 5 Yr (%) | 10 Yr (%) | Std Dev | Sharpe | Sortino |
| Kotak Midcap Fund | 14.21 | 23.05 | 29.36 | 19.05 | 14.47 | 0.35 | 0.66 |
| Nifty Midcap 150 – TRI | 8.28 | 23.45 | 29.29 | 17.97 | 15.29 | 0.34 | 0.67 |
Source: ACE MF
As of 31 October 2025, the fund invested 68.3% of its assets in midcaps, 13.9% in largecaps, and 14.6% in smallcaps.
The fund’s top stocks are Fortis Healthcare (4.2%), GE Vernova T&D India (4%), and Mphasis (3%).
Its top sectors are finance (14.6%), healthcare (11.5%), and infotech (9.9%).
With its focus on quality businesses that are reasonably priced, the fund holds the potential to outperform the market over the long term.
Its resilience during market turbulence and decent participation in upward trends have reinforced its reputation.
#3 Kotak Large & Midcap Fund
Originally launched as a thematic Fund in September 2004, it repositioned as a Large & Midcap Fund in 2018. The fund looks for attractive opportunities within specific sectors while maintaining a portfolio that predominantly includes large-cap and mid-cap stocks.
It has established a track record of consistent performance across various market phases, thanks to the stewardship of its star fund manager Harsh Upadhyaya who has been managing the scheme for more than a decade.
In the last 5 years, Kotak Large & Midcap Fund grew at a CAGR of 24% which is nearly in line with the Nifty LargeMidcap 250 – TRI index.
Performance Snapshot – Kotak Large & Midcap Fund
| Scheme Name | 1 Yr (%) | 3 Yr (%) | 5 Yr (%) | 10 Yr (%) | Std Dev | Sharpe | Sortino |
| Kotak Large & Midcap Fund | 9.21 | 20.62 | 23.98 | 16.34 | 12.22 | 0.34 | 0.65 |
| NIFTY LargeMidcap 250 – TRI | 7.52 | 18.83 | 24.14 | 15.49 | 13.05 | 0.30 | 0.59 |
Source: ACE MF
As of 31 October 2025, the fund invested 53.2% of its assets in largecaps, 37.9% in midcaps, and 5.5% in smallcaps.
The fund’s top stocks are HDFC Bank (6.5%), Bharat Electronics (4%), and SBI (4%).
Its top sectors are banks (19%), auto & ancillaries (11.4%), and pharma & healthcare (7%).
The fund has proven its ability to timely identify and capture available opportunities to generate substantial wealth for long-term investors.
The fund manager has effectively managed the overall volatility and consistently delivered decent risk-adjusted returns over the long run.
Conclusion
Kotak Mutual Fund is one of the popular fund houses in India. Several schemes of the AMC across categories have rewarded investors well on a risk-adjusted basis.
However, it’s important not to get carried away by historical performance as it may not necessarily sustain in the future.
Ideally, diversify your mutual fund portfolio across fund houses, thereby reducing concentration risk.
And when you invest, consider your risk appetite, investment objective, and time horizon to select appropriate schemes.
Be a thoughtful investor.
Happy investing.
#Table Note: Data as of November 19, 2025
The securities quoted are for illustration only and are not recommendatory
Past performance is not an indicator for future returns.
Returns are on a rolling basis and in %. Direct Plan-Growth option.
Those depicted over 1-Yr are compounded annualised.
Risk ratios are calculated over a 3-year period assuming a risk-free rate of 6% p.a.
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