Notes forming part of the Accounts

1.Effect of changes in the accounting Policies: Nil

2.Disclosure Under Regulation 25(11) of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended:

Kotak Mahindra Mutual Fund has made the following investments in companies, which hold/have held units in excess of 5% of the net asset value of any scheme of Kotak Mahindra Mutual Fund.

100000.00
100000.00
100000.00

These investments comprise debt and equity instruments and were made solely on the basis of sound fundamentals of these companies.

Please refer Annexure I

3.Disclosure Under Regulation 25(8) of the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996, as amended:

(i)Kotak Securities Limited, Kotak Mahindra (International) Ltd, Kotak Mahindra Assets management Singapore PTE Limited. and KotakMahindra (UK) Ltd., associate companies of Kotak Mahindra Asset Management Company Limited (KMAMCL), and Kotak Mahindra Bank Limited, the holding company of KMAMCL were paid commission / promotional expenses for distribution of units for the Schemes, brokerage on purchase and sale of investments and / or charges for services provided by Kotak Mahindra Bank during the half-year.

Please refer Annexure II

(ii)During the period, the following Schemes have subscribed to the issues of equity shares where Kotak Mahindra Capital Company Limited, an associate company of KMAMCL and in issue of debt security where Kotak Mahindra Bank Limited, the holding company of KMAMCL, were the lead manager / arranger to the issue.

Please refer Annexure III

4.Details of large holdings (over 25% of the Net Assets of the respective Schemes/Plans) as on 30th September, 2017:

Scheme Name / No of Investors / Holding %
Kotak FMP Series 116 / 2 / 99.43
Kotak FMP Series 108 / 2 / 52.34
Kotak FMP Series 115 / 1 / 47.65
Kotak FMP Series 113 / 1 / 38.4

5.Bonus declared during the half year: - Nil

6.Scheme wise balance of Deferred Revenue Expenditure as on 30th September, 2017 : -Nil

7.Borrowings if any, above 10% of the Net Assets of any Scheme: -

Scheme / Borrowing in
Rs. Cr as on 30th September, 2017 / Net Assets in
Rs. Cr as on 30th September, 2017 / % to Net Assets
Kotak Floater Short Term / 2135.26 / 11479.37 / 18.60

8.Notional Exposure of more than 10% of the Net Assets of any Scheme investing in derivative products:

Kotak Equity Arbitrage Fund with Net Short position in Futures at Rs. (7, 33,303.78)Lakhs representing (66.89%)of Net Assets, Kotak Equity Savings Fund with Net Short position in Futures at Rs. (42,410.02) Lakhs representing ( 40.91%) of Net Assets and Kotak Classic Equity Scheme with Net Long position in Futures at Rs. 1,747.90 Lakhs representing 15.54% of Net Assets.

9.Illiquid Securities: Following are the illiquid securities in KotakOpportunities as on30th September, 2017.

Scheme / Company Name / Fair Value (Rs in Lakhs) / Percentage of Fair value to Net assets
Kotak Opportunities / Virtual Dynamics Software Limited / Nil / -
Kotak Opportunities / SRM Radiant InfoTech Limited / Nil / -

10 The percentage in terms of market value of investmentsmade in foreign securities as on 30th September,

2017 :

Scheme / Market Value (In Lakhs) / % to Net Assets
Kotak US Equity Fund / 363.98 / 93.96
Kotak World Gold Fund / 4,056.82 / 99.25
Kotak Global Emerging Market Fund / 2,811.08 / 96.98

11 Unclaimed Dividend and Redemption Proceeds:

The amounts of unclaimed dividends and unclaimed redemption proceeds as on 30th September, 2017 and the number of investors to whom the amounts are payable are as follows:

Scheme Name / Unclaimed Dividend / Unclaimed Redemption
No. of Investors / Amount (Rs.in Lacs) / No. of Investors / Amount (Rs.in Lacs)
Kotak Opportunities / 11,258 / 292.46 / 2,163 / 177.60
Kotak Tax Saver / 8,088 / 176.73 / 961 / 127.80
Kotak 50 / 2,244 / 137.20 / 1,624 / 144.43
Kotak Select Focus Fund / 3,328 / 111.21 / 1,239 / 217.63
Kotak Balance / 724 / 53.74 / 67 / 11.01
Kotak Midcap / 1,358 / 51.95 / 387 / 44.35
Kotak Classic Equity / 915 / 32.38 / 153 / 31.15
Kotak Monthly Income Plan / 742 / 31.81 / 58 / 6.20
Kotak Emerging Equity Scheme / 764 / 24.75 / 225 / 43.49
Kotak Bond / 376 / 20.53 / 52 / 6.12
Kotak Gilt Investment PF Plan / 59 / 6.39 / 4 / 0.57
Kotak Equity Arbitrage Fund / 42 / 4.61 / 4 / 0.08
Kotak Multi Asset Allocation Fund / 47 / 3.72 / 21 / 3.42
Kotak Infrastructure and Economic Reform Fund / 161 / 3.65 / 101 / 23.80
Kotak Gold Fund / 1 / 3.36 / 310 / 18.74
Kotak Flexi Debt / 52 / 2.95 / 54 / 60.42
Kotak World Gold Fund / 146 / 2.84 / 87 / 13.36
Kotak PSU Bank ETF / 95 / 2.77
Kotak Asset Allocator Fund / 98 / 2.15 / 44 / 9.50
Kotak Nifty ETF / 268 / 1.49 / 419 / 3.24
Kotak Sensex ETF / 124 / 0.83 / 178 / 0.73
Kotak FMP 370 Days Series 9 ** / 2 / 0.50 / 1 / #
Kotak Banking and PSU Debt Fund / 17 / 0.44 / 1 / 0.36
Kotak Income Opportunities Fund / 8 / 0.41 / 6 / 0.90
Kotak Quarterly Interval Plan-Series I ** / 1 / 0.27
Kotak Medium Term Fund / 3 / 0.20 / 1 / 0.07
Kotak Treasury Advantage Fund / 4 / 0.19 / 42 / 0.44
Kotak Equity Savings Fund / 3 / 0.16
Kotak Liquid / 2 / 0.15 / 63 / 4.81
Kotak Floater Short Term / 4 / 0.07 / 35 / 4.21
Kotak FMP 18M Series 3 ** / 1 / 0.06
Kotak FMP 12M Series 8 ** / 1 / 0.06
Kotak Quarterly Interval Plan-Series III ** / 2 / 0.05 / 1 / 1.87
Kotak Quarterly Interval Plan Series 9 ** / 3 / 0.04
Kotak MNC ** / 1 / 0.02
Kotak Quarterly Interval Plan Series 10 ** / 2 / 0.02 / 2 / 0.01
Kotak Quarterly Interval Plan Series 7 ** / 2 / 0.02
Kotak FMP 12M Series 10 ** / 2 / 0.02
Kotak FMP 12M Series 9 ** / 1 / 0.01
Kotak FMP Series 122 ** / 1 / 0.01
Kotak FMP 6M Series 9 ** / 1 / 0.01
Kotak Low Duration Fund / 2 / 0.01 / 10 / 1.36
Kotak Dynamic Income Scheme ** / 1 / 0.01
Kotak Global Emerging Market Fund / 1 / # / 155 / 24.13
Kotak FMP Series 38 (370 Days) ** / 1 / #
Kotak FMP Series 99 ** / 1 / #
Kotak FMP Series 46 (370 Days) ** / 4 / 209.85
Kotak Dynamic FOF ** / 1 / 124.51
Kotak Technology / 102 / 15.70
Kotak Twin Advantage Sr III ** / 38 / 14.42
Kotak Wealth Builder Series I ** / 36 / 6.59
Kotak MNC ** / 27 / 4.47
Kotak Twin Advantage Sr II ** / 13 / 4.17
Kotak FMP Series 76 ** / 1 / 3.55
Kotak FMP Series 86 ** / 1 / 3.51
Kotak FMP Series 160 ** / 1 / 2.54
Kotak Hybrid Fixed Term Plan Series - 2 ** / 7 / 1.99
Kotak FMP Series 162 ** / 1 / 1.92
Kotak Dynamic Asset Allocation ** / 2 / 1.12
Kotak Corporate Bond Fund / 3 / 0.73
Kotak FMP Series 140 ** / 1 / 0.48
Kotak FMP Series 113 ** / 1 / 0.47
Kotak FMP 12M Series 2 ** / 5 / 0.42
Kotak US Equity Fund / 3 / 0.26
Kotak Hybrid Fixed Term Plan Series - I ** / 9 / 0.21
Kotak FMP Series 29 (370 Days) ** / 1 / 0.13
Kotak Quarterly Interval Plan-Series II ** / 1 / 0.13
Kotak FMP 6M Series 7 ** / 1 / 0.03
Kotak Gold ETF / 2 / #
Kotak Quarterly Interval Plan-Series IV ** / 1 / #
Kotak FMP Series 59 (160 Days) ** / 1 / #
Kotak FMP Series 54 (370 Days) ** / 1 / #
Kotak FMP Series 55 (24M) ** / 2 / #
Kotak FMP Series 52 (370 Days) ** / 1 / #
Kotak FMP Series 73 (18M) ** / 1 / #

** Matured/Merged Scheme.

# Less than Rs. 0.005 Lakhs

12.Short Names: Following short names have been used in the presentation of results.

Short Name used / Scheme Name
Kotak Gilt / Kotak Mahindra Gilt Unit Scheme 98
Kotak50 / Kotak Mahindra 50 Unit Scheme
Kotak Bond / Kotak Mahindra Bond Unit Scheme 99
Kotak Balance / Kotak Mahindra Balance Unit Scheme 99
Kotak Liquid / Kotak Mahindra Liquid Scheme
Kotak Bond Short Term / KotakBond Short Term Plan
Kotak Floater Short Term / Kotak Floater Short Term Scheme
Kotak Flexi Debt / Kotak Flexi Debt Scheme
Kotak Midcap / Kotak Midcap Scheme
KotakClassic Equity / Kotak Classic Equity Scheme
Kotak Tax Saver / Kotak Tax Saver Scheme
Kotak KOP / Kotak Opportunities
For Kotak Mahindra Trustee Company Ltd / For Kotak Mahindra Asset Management Company Ltd
Director: Mr.Balan Wasudeo / Managing Director: Mr. Nilesh Shah
Director : Mr.Chandrashekar Sathe / Director : Mr. Gaurang Shah
Mumbai
Date: October 18, 2017 / Mumbai
Date: October 17, 2017

Investors are requested to note that the soft copy of the half yearly unaudited financial results of the Schemes for the period ended September 30, 2017 have been disclosed on the website of the Mutual Fund (

Unit holders may obtain, on request, a copy of the Annual Report of the scheme in which he or she has invested, from Kotak Mahindra Mutual Fund at its office at 6th Floor Kotak Towers, Building No 21 Infinity Park, Off W. E. Highway, Gen A. K. Vaidya Marg, Malad (E),and Mumbai 400097. Unit holders may also obtain, on request, a copy each of the Annual Report of Kotak Mahindra Asset Management Company Limited and the Trust Deed.

The unaudited financial results and portfolio of schemes for the period ended on that date, together with the notes thereto, were approved by the Board of Kotak Mahindra Asset Management Company Limited and by the Board of Kotak Mahindra Trustee Company Limited at their meetings held on 17th October 2017 and 18th October 2017 respectively.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.

Registered address: 27 BKC, Plot No. C-27, G-Block,Bandra Kurla Complex,

Bandra East, Mumbai – 400 051.

Telephone: 022-6638-4444

E-mail:

Website: