Kotak Consumption Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak Consumption Fund Direct Growth Plan is at ₹14.375 as of 17 September 2026, with scheme AUM of ₹1,730 Cr. Its 1-year, 3-year and 5-year returns are -4.56%, 0% and 0%, and the scheme sits in the High Risk bucket. Our view is that this is a themed equity fund for investors who can accept sharper swings and want exposure to consumption-linked businesses, but the recent return pattern has been weaker than the benchmark and the long-term track record is still short because the scheme launched in November 2023.

The fund is better suited to investors who can stay invested through uneven phases and are comfortable with concentration in a smaller set of consumer-facing names. The portfolio mix may help if domestic consumption stays resilient, but the current return profile does not yet show a smooth compounding pattern.

Quick facts

Particular	Details
NAV	₹14.375 as of 17 Sep 2026
AUM	₹1,730 Cr
Expense Ratio	0.56%
Launch Date	16 Nov 2023
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	0.50% on or before 90D, Nil after 90D
Fund Managers	Devender Singhal, Abhishek Bisen

The fund is managed by Devender Singhal and Abhishek Bisen.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-4.16%	-3.66%
3M	1.35%	-3.71%
1Y	-4.56%	-7.13%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

Short-term performance has been mixed. The fund was weaker over 1 month, but it turned positive over 3 months while the benchmark remained negative, which suggests a sharper rebound in the recent quarter. Even so, the 1-year return is still negative, so the recovery has not yet been strong enough to restore the broader trend.

Against the benchmark, the fund has been better over 3 months and 1 year, but the margin is not large enough to call the path smooth. The one-year pattern shows the fund has spent meaningful time under pressure, and the recent month also slipped back again. That combination points to a stop-start recovery rather than a clean uptrend.

The longer history is limited because the scheme is still young. With no 3-year or 5-year return available, our view is that investors should treat the current numbers as early evidence rather than a full cycle record. For now, the main takeaway is that short bursts of outperformance have appeared, but they have not yet translated into sustained compounding.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Kotak Consumption?

A fund's past returns alone don't tell you whether you should buy it today or continue holding it.

The right decision depends on factors such as your current allocation, purchase price, risk profile, investment horizon and the role this fund plays in your overall portfolio.

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Peer comparison

Fund	1Y return	3Y return	5Y return
Kotak Consumption Fund Direct Growth Plan	-4.56%	Data not available	Data not available
ICICI Pru Strategic Metal and Energy Equity FoF Direct Growth Plan	69.8%	36.32%	Data not available
HDFC Pharma and Healthcare Fund Direct Growth Plan	25.31%	Data not available	Data not available
Kotak Healthcare Fund Direct Growth Plan	25.27%	Data not available	Data not available
Motilal Oswal Active Momentum Fund Direct Growth Plan	24.51%	Data not available	Data not available
PGIM India Healthcare Fund Direct Growth Plan	22.75%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. The fund’s 1-year return is below the positive figures shown by all five peer funds here, which tells us the recent stretch has been comparatively weak. The longer-term comparison is harder to extend because most of the peer 3-year and 5-year fields are unavailable, while the current fund itself has no longer-horizon record yet. That means the short-term picture is clear, but the medium-term peer comparison remains incomplete.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Eternal Limited	Retailing	7.93%
Maruti Suzuki India Limited	Automobile & Ancillaries	7.58%
Bharti Airtel Ltd.	Telecom	6.49%
Hero Motocorp Ltd.	Automobile & Ancillaries	5.3%
Hindustan Unilever Ltd.	FMCG	3.52%
Barbeque Nation Hospitality Ltd.	Hospitality	3.25%
Park Medi World Limited (Park Hospital)	Domestic Equities	3.24%
Britannia Industries Ltd.	FMCG	3.21%
ITC Ltd.	FMCG	3.19%
Ami Organics Ltd	Healthcare	2.91%

The top 10 holdings account for approximately 46.62% of the portfolio.

To see all holdings, visit the Kotak Consumption Fund Direct Growth Plan page

The largest holding, Eternal Limited, is 7.93%, and the next few positions are also meaningful, with Maruti Suzuki India Limited at 7.58% and Bharti Airtel Ltd. at 6.49%. The drop from the first holding to the tenth is fairly modest rather than abrupt, which suggests the portfolio is not dominated by one outsized bet.

At the same time, the top five names already make up a large share of the disclosed list, so a few positions could have greater influence on returns than the rest. With 45 total holdings and the top 10 already accounting for 46.62%, the exposure is spread across a reasonably long tail, but it still has a noticeable concentration in select consumer, auto, telecom and FMCG names.

That structure may help the fund participate in a broad consumption cycle, yet it also means stock-specific moves in the larger positions can matter. Investors looking for a very diversified, low-concentration portfolio may find this setup less comfortable than those who are willing to accept a more focused consumption theme.

Source data date: as of 17 Sep 2026

Who should invest

This fund suits investors with a high risk tolerance and a medium- to long-term horizon who can live with uneven near-term outcomes. The 1-year return is negative, and the scheme has also been weaker than the benchmark over 1 month, even though it has held up better over 3 months and 1 year. That makes the main trade-off clear: you are taking on a more focused consumption theme in exchange for the possibility of cyclical upside, but the ride can be choppy.

We would view it as more suitable for investors who already understand sector-style volatility and want exposure to consumer, auto and telecom names rather than a broad market core. The portfolio concentration is meaningful, so the fund may react more sharply to changes in a handful of stocks.

Tax and exit load

Holding period	Tax rate	Description
Units held less than 1 year	20%	Short-term capital gains tax
Units held more than 1 year	12.5%	Long-term capital gains tax

Exit load: 0.50% if units are sold on or before 90 days. No exit load applies after 90 days.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Kotak Consumption Fund Direct Growth Plan?

The current NAV is ₹14.375 as of 17 September 2026.

What are the fund’s 1-year, 3-year and 5-year returns?

The 1-year return is -4.56%, while the 3-year and 5-year returns are Data not available because the scheme is still young.

How has the fund done against the benchmark?

It has done better than the benchmark over 3 months and 1 year, but it was weaker over 1 month.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund?

The fund is managed by Devender Singhal and Abhishek Bisen.

What does the portfolio look like?

The portfolio is led by Eternal Limited, Maruti Suzuki India Limited and Bharti Airtel Ltd., and the top 10 holdings together account for 46.62% of the portfolio.

Bottom line

Kotak Consumption Fund Direct Growth Plan has shown a mixed early record: recent returns have improved in parts, but the 1-year figure remains negative and the scheme has only a short operating history. Compared with the benchmark and the peer set shown here, the short-term picture is weaker than several peers, while the longer-horizon comparison is limited because this fund has no 3-year or 5-year record yet. The portfolio is focused and moderately concentrated, so it may appeal to investors who want a consumption theme and can tolerate high risk and uneven swings.

Published on 18 September 2026 at 10:23 AM IST

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RIA disclosure

Mutual fund investments are subject to market risks. Read all scheme-related documents carefully before investing. This review is prepared by Uniapps Investment Adviser Pvt. Ltd. (earlier known as Uniapps Global Research Pvt. Ltd.) under SEBI Registered Investment Adviser registration INA000017639 for general informational purposes and is not personalized investment advice.