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Kotak Equity Arbitrage Fund - Direct Plan

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Hybrid: Arbitrage

1 Lakh

Investment Grown to
₹ 1.21 Lakh

₹ 10000

Monthly SIP Grown to
₹ 3.97 Lakh

Analyst's Choice?

Suitability:

Arbitrage funds invest in equity shares and derivatives and earn their returns through price differential between a stock and its futures. By investing in these funds, you can expect to earn better returns than what you would get from a bank account.

Arbitrage funds keep their equity investments fully hedged, which basically means that their returns are not impacted by the day-to-day ups and downs of the stock market. The risk of incurring a loss in these funds is low but they do not guarantee returns or safety of capital.

Retail investors can avoid these funds altogether. We believe that liquid funds are a better alternative with a somewhat similar risk-return payoff but better liquidity.

Taxability of earnings:

Capital gains

  • If the mutual fund units are sold after 1 year from the date of investment, gains upto Rs 1 lakh in a financial year are exempt from tax. Gains over Rs 1 lakh are taxed at the rate of 10%.
  • If the mutual fund units are sold within 1 year from the date of investment, entire amount of gain is taxed at the rate of 15%.
  • No tax is to be paid as long as you continue to hold the units.

Dividends

  • Dividends paid by the mutual fund scheme are taxed at the rate of 10% (effectively 11.648%, including surcharge and cess). This is known as Dividend Distribution Tax (DDT). Though the investor does not pay this tax directly, it is deducted from the dividend income before passing on to the investor.

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Annual Returns
Quarterly Returns
Monthly Returns
Weekly Returns

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(₹)
cal
cal

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Trailing Returns (%)

YTD 1-Day 1-W 1-M 3-M 6-M 1-Y 3-Y 5-Y 7-Y 10-Y
Fund 0.47 0.05 0.15 0.54 1.40 2.95 6.69 6.69 6.97 -- --
CCIL T Bill Liquidity Weight 0.24 0.00 0.07 0.28 0.84 1.91 4.21 4.15 4.45 -- --
Hybrid: Arbitrage 0.46 0.04 0.15 0.52 1.32 2.82 6.46 6.40 6.94 -- --
Rank within category 15 8 11 11 9 13 10 7 8 -- --
Number of funds in category 24 24 24 24 24 23 21 17 15 8 0

As on 24-Jan-2020

Best & Worst Performance

Best (Period) Worst (Period)
Week 0.50 (23-May-2014 - 30-May-2014) -0.18 (11-Jul-2013 - 18-Jul-2013)
Month 1.14 (19-May-2014 - 18-Jun-2014) 0.23 (03-Jul-2013 - 02-Aug-2013)
Quarter 2.91 (14-Nov-2013 - 13-Feb-2014) 1.26 (09-Nov-2016 - 08-Feb-2017)
Year 10.71 (22-Aug-2013 - 22-Aug-2014) 6.18 (25-Nov-2016 - 27-Nov-2017)

Risk Measures (%)

Mean Std Dev Sharpe Sortino Beta Alpha
Fund 6.40 0.50 1.37 2.58 0.47 1.46
CCIL T Bill Liquidity Weight 4.08 0.26 -6.21 -10.52 -- --
Hybrid: Arbitrage 6.12 0.70 0.99 2.01 0.56 1.33
Rank within category 5 4 6 6 7 9
Number of funds in category 17 17 17 17 17 17

The Risk Measures have been calculated using calendar month returns for the last three years.

As on 31-Dec-2019

Asset Allocation (%)

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Concentration & Valuation

Number of Stocks 117
Top 10 Holdings (%) 41.80
Top 5 Holdings (%) 28.39
Top 3 Sectors (%) --
Portfolio P/B Ratio 2.36
Portfolio P/E Ratio 21.35

Value Research Equity Fund Style

Value Research Debt Fund Style

Credit Rating vis-à-vis Category

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Top Debt Holdings

Company Instrument Credit Rating 1Y Range % Assets
equal Axis Bank Term Deposits -- 0.00 - 7.69 7.69
equal HDFC Bank Term Deposits -- 5.90 - 16.73 5.90
down Kotak Liquid - Plan A - Direct Plan-Gr Mutual Fund -- 0.00 - 11.90 3.61
equal HDFC 358-D 10/07/2020 Commercial Paper A1+ 0.00 - 3.22 2.77
equal 8.51% HDFC 15/07/2020 Non Convertible Debenture AAA 0.00 - 2.10 1.88
up 8.70% HDFC 15/12/2020 Debenture AAA 0.00 - 1.46 1.46
equal LIC Housing Fin. 356-D 20/08/2020 Commercial Paper A1+ 0.00 - 1.20 1.10
equal Tata Capital Financial Services 180-D 06/05/2020 Commercial Paper A1+ 0.00 - 0.84 0.84
equal Federal Bank Term Deposits -- 0.59 - 0.80 0.80
equal 8.20% Power Finance Corp. 14/09/2020 Bonds/NCDs AAA 0.00 - 0.63 0.58
equal LIC Housing Fin. 329-D 11/09/2020 Commercial Paper A1+ 0.00 - 0.59 0.55
equal IDFC First Bank Term Deposits -- 0.42 - 1.69 0.42
equal AU Small Finance Bank Term Deposits -- 0.29 - 0.42 0.29
new 7.60% Bajaj Finance 15/06/2020 Debenture AAA 0.00 - 0.14 0.14
equal Equitas Small Finance Bank Term Deposits -- 0.14 - 0.42 0.14

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

Sector Allocation vis-à-vis Category

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Top Equity Holdings

Company Sector P/E 3Y High 3Y Low % Assets
up Reliance Industries Energy 22.24 10.20 0.00 6.28
down HDFC Financial 34.91 4.94 0.00 4.91
up ITC FMCG 21.07 3.42 0.01 3.42
up HDFC Bank Financial 25.94 6.07 0.00 2.72
up Axis Bank Financial 43.43 2.56 0.00 2.34
up State Bank of India Financial 28.59 2.83 0.00 2.17
up Larsen & Toubro Construction 19.54 2.01 0.00 2.01
up Sun Pharmaceutical Inds. Healthcare 24.81 3.18 0.07 1.96
down BPCL Energy 15.80 1.94 0.00 1.83
down Bajaj Finance Financial 51.46 2.00 0.00 1.75
up Grasim Industries Construction 12.48 2.51 0.00 1.65
up Bajaj Finserv Financial 41.07 1.50 0.00 1.50
up Vedanta Metals 7.52 1.88 0.00 1.48
down Hindustan Unilever FMCG 68.15 4.50 0.00 1.31
down Asian Paints Chemicals 63.07 2.65 0.00 1.21
up Maruti Suzuki India Automobile 35.42 2.07 0.00 1.17
new ICICI Bank Financial 67.25 3.62 0.00 1.13
up Tata Motors Automobile -- 1.92 0.00 0.95
up Hindalco Inds. Metals 79.00 1.00 0.02 0.94
down Tata Consultancy Services Technology 25.29 3.23 0.00 0.92
up Tech Mahindra Technology 17.20 1.75 0.00 0.92
up Mahindra & Mahindra Automobile 12.95 1.36 0.01 0.90
up Bharti Airtel Communication -- 2.00 0.00 0.89
up Titan Company Cons Durable 75.87 2.25 0.00 0.77
up Dabur India FMCG 58.84 1.45 0.00 0.75

up down equal Indicates an increase or decrease or no change in holding since last portfolio
new Indicates a new holding since last portfolio

As on 31-Dec-2019

Fund Manager

— Hiten Shah since 03-Oct-2019

Education: Mr. Shah is a Masters in Management Studies (Finance) from Mumbai University.

Experience: Prior to joining Edelweiss Asset Management Limited (since July 2011) he was associated with Edelweiss Securities Limited as Low Risk Arbitrage Trader for over three years.

Funds Managed:

Invest Online
0.05%

Change from previous, NAV as on 24-Jan-2020

Growth: ₹ 28.6902

Dividend Monthly: ₹ 11.1965

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Dividend Fortnightly: ₹ 23.5474

Dividend Bimonthly: ₹ 20.3178

Investment Strategy

The scheme aims to generate income through arbitrage opportunities emerging out of pricing anomaly between the spot & futures market; and also through deployment of surplus cash in fixed income instruments.

Investment Details

Minimum Investment (₹) 5,000
Minimum Addl Investment (₹) 1,000
Minimum SIP Investment (₹) 500
Minimum No of Cheques 10
Minimum Withdrawal (₹) 1,000
Minimum Balance (₹) 1,000
Exit Load 0.25% for redemption within 30 days

Basic Details

Fund House: Kotak Mahindra Mutual Fund
Launch Date: 01-Jan-2013
Return Since Launch: 7.73%
Benchmark: NIFTY 50 Arbitrage
Riskometer: Moderately Low
Type: Open-ended
Assets: ₹ 17,486 Cr (As on 31-Dec-2019)
Expense: 0.44% (As on 31-Dec-2019)
Risk Grade: Below Average
Return Grade: Average
Turnover: 309.20%

Most Recent Dividends

Plan Record Date Dividend (₹ / Unit)  
Dividend Fortnightly14-Jan-20200.0585

 31-Dec-20190.0300
 17-Dec-20190.0429
 03-Dec-20190.0399
 19-Nov-20190.0352
 05-Nov-20190.0635
 23-Oct-20190.0345
 09-Oct-20190.0578
 24-Sep-20190.0449
 11-Sep-20190.0330
 27-Aug-20190.0322
 14-Aug-20190.0692
 30-Jul-20190.0598
 16-Jul-20190.0766
 02-Jul-20190.0433
 18-Jun-20190.0448
 04-Jun-20190.0840
 21-May-20190.0594
 07-May-20190.0571
 23-Apr-20190.0961
 09-Apr-20190.0394
 26-Mar-20190.0553
 12-Mar-20190.0482
 26-Feb-20190.0453
 12-Feb-20190.0355
Dividend Bimonthly26-Nov-20190.1826

 24-Sep-20190.1791
 23-Jul-20190.2143
 28-May-20190.2576
 26-Mar-20190.1429
 29-Jan-20190.1824
 27-Nov-20180.2429
 25-Sep-20180.1843
 24-Jul-20180.1968
 29-May-20180.2071
 23-Mar-20180.2148
 23-Jan-20180.1979
 28-Nov-20170.2171
 26-Sep-20170.2300
 25-Jul-20170.2353
 22-May-20170.1857
 27-Mar-20170.2230
 23-Jan-20170.1850
 21-Nov-20160.2284
 26-Sep-20160.2360
 25-Jul-20160.2629
 23-May-20160.1947
 28-Mar-20160.2445
 25-Jan-20160.2396
 23-Nov-20150.2001
Dividend Monthly25-Nov-20190.0073

 29-Oct-20190.0376
 23-Sep-20190.0311
 26-Aug-20190.0601
 22-Jul-20190.0511
 24-Jun-20190.1682
 25-Mar-20190.0372
 25-Feb-20190.0404
 28-Jan-20190.0576
 24-Dec-20180.0416
 26-Nov-20180.0662
 22-Oct-20180.0659
 24-Sep-20180.0451
 27-Aug-20180.0497
 23-Jul-20180.0453
 25-Jun-20180.0499
 28-May-20180.0568
 23-Apr-20180.0547
 22-Mar-20180.1170
 19-Feb-20180.0184
 26-Dec-20170.0281
 27-Nov-20170.0341
 23-Oct-20170.0528
 25-Sep-20170.1246
 24-Jul-20170.0545

Contact Information

AMC: Kotak Mahindra Asset Management Company Ltd

Address: 27 BKC, C-27, G Block, Bandra Kurla Complex, Bandra (E) Mumbai - 400051

Phone: 022-61152100 / 1800-22-2626

Fax: 022-66384455

Email: [email protected]

Website: www.kotakmutual.com

Registrar & Transfer Agent: Computer Age Management Services Ltd.

Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai - 600002

Phone: 1800-3010-6767 / 1800-419-7676

Fax: 044-30407101

Email: [email protected]

Website: www.camsonline.com

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