Kotak CRISIL-IBX AAA Financial Services Index - Sep 2027 Fund Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak CRISIL-IBX AAA Financial Services Index – Sep 2027 Fund Direct Growth Plan currently has a NAV of ₹11.6172 as of 10 Sep 2026 and an AUM of ₹467 Cr. Its 1-year, 3-year and 5-year returns are 6.45%, 0% and 0%, and the fund sits in the Balanced Risk category.

Our view is that this is a short-duration, high-conviction debt-oriented index fund whose recent return profile has been modest rather than broad-based. The portfolio is built around AAA-rated financial-services debt holdings, so the fund may appeal to investors who want a defined-maturity style exposure with a clear credit profile rather than a wide-market equity outcome.

Quick facts

Particular	Details
NAV	₹11.6172 as of 10 Sep 2026
AUM	₹467 Cr
Expense Ratio	0.2%
Launch Date	13 Sep 2024
Min SIP	₹100
Risk Category	Balanced Risk
Benchmark	Nifty 50
Fund Category	Index Funds
Exit Load	0.25% on or before 30D, Nil after 30D
Fund Managers	Abhishek Bisen

The fund is managed by Abhishek Bisen.

Source data date: as of 10 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.61%	-4.06%
3M	2.05%	1.37%
1Y	6.45%	-7.31%
3Y	Data not available	Data not available
5Y	Data not available	Data not available

The recent pattern is steadier than the benchmark, which has been more volatile over the same periods. The fund’s one-month return is positive while the benchmark is negative, and the three-month return is also ahead of the benchmark, suggesting a relatively firmer short-term path.

Over one year, the gap becomes much wider in favour of the fund. That does not mean the journey has been smooth, but it does suggest the portfolio has held up better than the benchmark across a mixed market backdrop. The time pattern also shows that gains have built gradually rather than through sharp jumps.

Because 3-year and 5-year figures are not available, our read-through is mainly based on the shorter trail since launch. For investors, that means the fund’s visible track record is still developing, and the more useful question is whether its current behaviour matches the role of a defined credit-linked index exposure.

Source data date: as of 10 Sep 2026

Should you BUY or HOLD Kotak CRISIL-IBX AAA Financial Services Index – Sep 2027?

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 CRISIL-IBX AAA Financial Services Index – Sep 2027 Fund Direct Growth Plan	6.45%	Data not available	Data not available
ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan	33.08%	30.07%	Data not available
Motilal Oswal Nifty India Defence Index Fund Direct Growth Plan	26.95%	Data not available	Data not available
Aditya Birla SL Nifty India Defence Index Fund Direct Growth Plan	26.94%	Data not available	Data not available
Tata Nifty Capital Markets Index Fund Direct Growth Plan	24.33%	Data not available	Data not available
Motilal Oswal Nifty Capital Market Index Fund Direct Growth Plan	23.74%	Data not available	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available one-year numbers, the fund trails the strongest peer figures by a wide margin, even though it remains ahead of its benchmark over the same horizon. That difference matters because it shows the fund is not trying to match the more aggressive short-term upside visible in the peer group.

The longer comparison is more limited because 3-year and 5-year figures are not available for the current fund and most peers. ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan is the clearest exception on the 3-year side, and its return is far higher. That makes the current fund look more conservative in practice, with performance shaped by income-style debt exposure rather than equity-style momentum.

Source data date: as of 10 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
7.65% HDB Financial Services Ltd.**	Corporate Debt	10.14%
8.35% Axis Finance Ltd.**	Corporate Debt	9.91%
8.17% Aditya Birla Housing Finance Ltd**	Corporate Debt	9.65%
8.12% Bajaj Finance Ltd.**	Corporate Debt	9.64%
7.7% National Bank for Agriculture & Rural Development**	Corporate Debt	9.63%
8% Tata Capital Ltd.**	Corporate Debt	8.56%
7.59% National Housing Bank**	Corporate Debt	7.49%
7.99% Kotak Mahindra Prime Ltd.**	Corporate Debt	7.49%
7.9% Mahindra & Mahindra Financial Services Ltd.**	Corporate Debt	6.14%
8.1% Bajaj Housing Finance Ltd.**	Corporate Debt	5.36%

The top holding is 7.65% HDB Financial Services Ltd.**, and it carries a 10.14% weight, so no single position dominates the portfolio on its own. The tenth holding still carries 5.36%, which shows that the fund does not drop sharply from the top position to the lower end of the visible list.

The displayed holdings together account for approximately 84.01% of the portfolio, and the total disclosed list contains 16 holdings. That suggests a portfolio with meaningful concentration in a relatively small set of corporate debt positions, while still leaving a tail of additional holdings beyond the visible top ten.

Because every holding in the table sits in Corporate Debt, the portfolio may behave more like a targeted credit basket than a broad diversified fund. For investors, that means issuer selection and credit quality are likely to matter more than headline market swings.

To see all holdings, visit the Kotak CRISIL-IBX AAA Financial Services Index – Sep 2027 Fund Direct Growth Plan page

Source data date: as of 10 Sep 2026

Who should invest

This fund may suit investors who are comfortable with a Balanced Risk profile and want a debt-oriented exposure with a clearly defined corporate-credit focus. The recent one-year return is positive, and the short-term behaviour has been better than the benchmark, but the fund does not yet have a long trailing record to lean on.

The natural fit is for an investor with a medium-term horizon who can accept that returns may not be smooth and may differ materially from equity-style peers. The main trade-off is between the fund’s targeted AAA financial-services exposure and the narrower opportunity set that comes with it. Investors who want a more diversified or equity-led growth profile may find this style too specialised.

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

The exit load is 0.25% if units are sold on or before 30 days, and nil after 30 days.

Source data date: as of 10 Sep 2026

Frequently asked questions

What is the current NAV of Kotak CRISIL-IBX AAA Financial Services Index – Sep 2027 Fund Direct Growth Plan?
Its current NAV is ₹11.6172 as of 10 Sep 2026.

What are the 1-year, 3-year and 5-year returns?
The fund’s 1-year return is 6.45%. The 3-year and 5-year returns are Data not available.

How does the fund compare with its benchmark?
It has outperformed the benchmark over 1 month, 3 months and 1 year. The benchmark has been negative over 1 month and 1 year, while the fund stayed positive.

How does it compare with peer funds on available return data?
Its one-year return is lower than the stronger peer figures shown, including ICICI Pru NASDAQ 100 Index Fund Direct Growth Plan and the defence and capital-markets index funds listed here. The fund still has a clearer edge over its benchmark than over the peer set.

Is there a minimum SIP amount?
The minimum SIP amount is ₹100.

Who manages the fund and what is the exit load?
The fund is managed by Abhishek Bisen. The exit load is 0.25% on or before 30 days and nil after 30 days.

Bottom line

This fund’s short-term performance has been better than the benchmark, but the available longer trail is still limited, so the recent pattern matters more than any long-history conclusion. Against peer funds with stronger equity-like returns, it looks conservative and specialised rather than fast-growing. The Balanced Risk label and the corporate-debt portfolio point to a relatively focused credit exposure, which may suit investors who want a targeted income-style allocation instead of broad market participation.

Published on 11 September 2026 at 5:51 PM 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.