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AI Fund Dissection

Pulling the NAV history from AMFI…Computing returns against the Nifty…Measuring drawdowns and consistency…Pricing the Direct-vs-Regular gap…Lining up category peers…

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Kotak Multi Asset Allocation Fund — Fund Dissection — Sensai

AI Fund Dissection

Compare Kotak Multi Asset Allocation Fund against another fund →

Multi Asset AllocationDirect planKotak Mahindra

Kotak Multi Asset Allocation Fund - Direct Plan - Growth Option

₹16.2500-0.51%

NAV as of 28 Jul 2026 · AMFI publishes T+1

Since inception

3 Oct 2023

ISIN

INF174KA1PD4

AI briefing

What the numbers say

AI analysis

Kotak Multi Asset Allocation Fund (Direct, Growth) is a hybrid scheme that blends equity, debt and other assets. Over the past year it delivered a strong 20.22% return while the benchmark Nifty fell 2.82%, and its inception return of 18.66% outperformed the 7.57% Nifty gain.

The fund shows a low beta (0.72) and a positive alpha (11.40%), indicating a bias toward lower‑volatility assets that still capture upside. The relatively modest volatility (12.3%) and good downside capture (61%) suggest a defensive, quality‑tilted approach with a significant allocation to stable income instruments alongside selective equity exposure.

Suits

Investors seeking hybrid exposure with downside protection and lower market‑linked volatility
Those who prefer a fund that can generate positive returns in a falling equity market
Long‑term investors comfortable with a modest expense drag (1.44% p.a.) in exchange for active risk management

Not for

Pure equity‑seeking investors who want high beta and full market upside

News & sentiment

What the press is saying

16 headlines · live

Neutral

16 headlines · 1 outlets · 7d

Tone · daily average

07-2407-30

0
SBI CRISIL - IBX SDL - June 2034 Index Fund Direct-IDCW (₹ 10.02) - NAV, Reviews & asset allocation

Performance

Returns vs the index

AMFI data

Window	Fund	Nifty 50	Difference
1M	-0.18%	-0.29%	+0.11%
3M	-0.52%	-0.04%	-0.48%
6M	-4.67%	-5.36%	+0.69%
1YCAGR	20.22%	-2.82%	+23.04%
InceptionCAGR	18.66%	7.57%

SIP simulator

What a monthly SIP would have done

Monthly amount

For how long

Buys units at the actual published NAV on the same date each month, then computes XIRR over the real cash flows. Not a projection — this is what the SIP would have done.

₹5,000/mo × 12 months

XIRR 11.19%

You invested₹60,000

It became₹63,550

Gain+₹3,550+5.9%

After tax

What you'd actually keep

Rules + NAV

Tax treatment

Equity

LTCG 12.5% over ₹1.25L (held >1y); STCG 20%

Lock-in

None

Open-ended — redeem any day

Illustrative, using FY2025-26 rules on a hypothetical lumpsum at this fund's realised 5-year CAGR — not a projection or tax advice. Debt gains are added to your income and taxed at your slab (shown at 30%); your actual rate may differ. Surcharge and cess are excluded.

Risk profile

What it costs to hold

Computed

Volatility

12.3%

Annualised, daily NAV

Sharpe

0.98

Excess return per unit of risk

Sortino

1.11

Downside risk only

Max drawdown

-13.8%

29 Jan 2026 → 23 Mar 2026

Recovery

Not yet

Still below the prior peak

Best 1 year

36.6%

Rolling, any start date

Worst 1 year

4.4%

Rolling, any start date

Worst-case entry

The unluckiest possible lumpsum: buy at the peak of , and you'd have watched it fall and waited just to break even. A monthly SIP would have softened this by buying through the fall; this is the lumpsum-at-the-top case.

Vs Nifty 50

How it behaves against the index

Computed

Beta

0.72

Moves less than the index

Alpha

+11.40%

Annualised, risk-adjusted

Correlation

0.78

1.0 = moves in lockstep

Upside capture

77%

Of index gains captured

Downside capture

61%

Of index falls absorbed

Capture below 100% on the downside and above it on the upside is the pattern investors pay for. Alpha assumes a 6.5% risk-free rate. Measured against the Nifty 50— the category-appropriate index, though not necessarily this fund's exact stated benchmark.

Cost of advice

Direct vs Regular

Derived from NAV

Window	Direct	Regular	Drag
1Y	20.22%	18.78%	1.44%

₹10,00,000 held 1 years

Direct plan₹12.02 L

Regular plan₹11.88 L

Cost of Regular₹14,433

Both plans hold the identical portfolio, so the gap between their NAVs is the commission — measured here from the published NAV series, not quoted from a TER sheet. Compared against scheme 152065. Distributors provide advice for that fee; whether it's worth it is your call.

Against its peers

AMFI data

Fund	1Y	3Y	5Y	Volatility
Aditya Birla Sun Life	15.3%	16.6%	—	9.8%
UTI	8.0%	16.5%	14.4%	10.4%
SBI	12.6%	16.2%	14.2%	6.6%
HDFC	6.1%	12.6%

Category rank

Where it sits among Multi Asset Allocation funds

AMFI data

5-year return

—

Not enough peers to rank.

Calm (low volatility)

12.3% vol

22th percentile

Steadier than 22% of its category.

Ranked against 8 same-category Direct-Growth schemes (the largest AMCs in Multi Asset Allocation by scheme count). A high return percentile with a high calm percentile is the rare combination — most funds trade one for the other. Percentile is of this sample, not the whole category.

Both sides

The case for and against

AI analysis

What the numbers support

Consistently outperformed the Nifty over 1‑year and inception horizons
Strong risk‑adjusted metrics (Sharpe 0.98, Sortino 1.11) indicating efficient return per unit of risk
Low correlation (0.78) and beta (0.72) to the Nifty, offering diversification benefits

What they warn about

Recent maximum drawdown of 13.8% (Jan–Mar 2026) shows the fund can still experience notable declines
Upside capture is only 77%, indicating the fund may lag in strong bull markets
Expense drag of 1.44% per year reduces net returns compared to lower‑cost peers

Not shown, and why

Portfolio holdings, sector allocation, AUM, expense ratio and the fund manager are absent because no free machine-readable feed publishes them — SEBI mandates monthly disclosure, but each AMC posts its own spreadsheet. Rather than estimate them, this page shows only what AMFI's published NAV series can prove. The cost section derives the expense difference from Direct vs Regular NAVs instead.

NAV as of 28 Jul 2026 · AMFI publishes T+1 · Educational only, not investment advice.

Important disclaimer

Sensai publishes educational market commentary, not investment advice. We are not SEBI-registered investment advisers or research analysts, and nothing here is a recommendation to buy, sell, or hold any security.

Live prices, index levels, and other market data are pulled from third-party feeds, may be delayed, and can be inaccurate or unavailable. Do not rely on them for trading decisions.

Investing in equities carries risk, including the loss of principal. Always do your own research and consider consulting a SEBI-registered adviser before making any investment decision.