Kotak Mahindra Asset Management is a wholly owned subsidiary of Kotak Mahindra Finance, a leading financial services group.
In its initial years, it derived its strengths from debt fund management. Kotak Mahindra Mutual Fund is credited with launching the first ever gilt fund of the country- Kotak Mahindra K Gilt Unit Scheme 98. Till a couple of years back, the fund house still held an edge as far as gilt funds were concerned, with two 5-star gilt funds. Not any longer. Today it has three gilt funds - two are 3-star rated and the other, 2-star rated. Even its debt funds have dipped. Just two have a rating of 4-star and above, a far cry from the earlier statistics.
It was only in 2004 onwards that the fund house began to get aggressive on the equity fund. Now they do have a range of equity funds but only two have really impressed - Kotak 30 and Kotak Opportunities.
Kotak Mid-Cap did show promise soon after its launch but has turned out to be a below-average performer.