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

Kotak Gold Fund Direct Growth Plan had a NAV of ₹61.4022 as of 09 Sep 2026 and a scheme AUM of ₹6,531 Cr. Its 1-year, 3-year and 5-year returns are 39.59%, 35.68% and 24.93%, respectively, and the scheme is marked High Risk. Our view is that this is a metal-linked allocation suited to investors who can handle sharp swings and still stay invested through cycles.

The fund’s portfolio is almost entirely tied to a single gold ETF holding, so its behaviour should be read as concentrated exposure rather than a diversified equity-style product. The recent return profile has been strong, but the benchmark comparison and the portfolio structure both point to a fund that can move very differently from broad market assets.

Quick facts

Particular	Details
NAV	₹61.4022 as of 09 Sep 2026
AUM	₹6,531 Cr
Expense Ratio	0.16%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	1% on or before 15D, Nil after 15D
Fund Managers	Abhishek Bisen, Jeetu Valechha Sonar

The fund is managed by Abhishek Bisen and Jeetu Valechha Sonar.

Source data date: as of 09 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.81%	-4.69%
3M	4.04%	0.93%
1Y	39.59%	-7.16%
3Y	35.68%	6.00%
5Y	24.93%	5.87%

The short-term picture has been firm. Over 1 month and 3 months, the fund stayed in positive territory and improved more than the benchmark, which was weaker over 1 month and only mildly positive over 3 months. That tells us the recent period has favoured gold-linked exposure more than broad equity direction.

The 1-year result is especially strong at 39.59%, while the benchmark is negative over the same horizon. This is a clean sign that the fund’s return driver has been different from the benchmark’s. In practical terms, the fund has not been behaving like a close proxy for the benchmark; it has been following its own cycle.

The 3-year and 5-year numbers remain healthy, but the benchmark comparison still matters. The fund’s 3-year and 5-year returns are well above the benchmark returns shown here, yet the 3-year path shows that the ride was not one-way. The time pattern suggests meaningful swings along the way, so investors should expect uneven periods even when the longer trend is constructive.

Source data date: as of 09 Sep 2026

Should you BUY or HOLD Kotak Gold?

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 Gold Fund Direct Growth Plan	39.59%	35.68%	24.93%
SBI Silver ETF FOF Direct Growth Plan	84.90%	Data not available	Data not available
Kotak Silver ETF FoF Direct Growth Plan	84.03%	46.21%	Data not available
Nippon India Silver ETF FOF Direct Growth Plan	83.29%	46.02%	Data not available
Zerodha Silver ETF FOF Direct Growth Plan	82.53%	Data not available	Data not available
Aditya Birla SL Silver ETF FOF Direct Growth Plan	82.46%	45.91%	Data not available

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the numbers available here, the fund’s 1-year return trails the silver-focused peers in this comparison set, while its 3-year and 5-year returns are still solid in absolute terms. The longer-term figures do not look weak, but the peer set shows a very different recent momentum in favour of silver exposure.

That creates two distinct stories: the fund has been strong versus the benchmark, yet more modest than the peer funds on recent 1-year performance. Over 3 years, it remains competitive in absolute terms, but the silver peers with available 3-year data are ahead. So the fund reads as a gold-focused diversifier with a steadier long-horizon profile rather than a short-term return leader among these peers.

Source data date: as of 09 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Kotak Mutual Fund – Kotak Gold ETF	Domestic Mutual Funds Units – Gold	99.82%

The single disclosed holding carries 99.82% weight, so it is likely to have the dominant influence on how the fund behaves. That level of concentration means the fund’s return pattern should closely reflect movements in the underlying gold ETF rather than a broad mix of securities.

Because there is only one disclosed holding, there is no fall-off from the largest position to a tenth holding in the table itself. The structure is therefore extremely concentrated, and the entire disclosed portfolio sits inside one position rather than a spread of many smaller bets.

With 1 disclosed holding accounting for 99.82% of the portfolio, this is not a layered allocation with a long tail of exposures. It may suit investors who want a simple gold-linked allocation, but it could also mean the fund offers less internal diversification than a typical multi-holding fund of fund.

Source data date: as of 09 Sep 2026

Who should invest

This fund fits investors who can tolerate High Risk and who want gold-linked exposure that may behave differently from equity benchmarks. The return pattern across 1 year, 3 years and 5 years shows strong compounding periods, but also enough movement along the way to require patience.

The main trade-off is concentration. Investors get a very direct gold ETF-linked allocation, yet that also means the outcome will largely depend on a single underlying position. A medium-to-long investment horizon is more sensible here than a short holding period, especially if the aim is portfolio diversification rather than near-term stability.

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: 1% on or before 15D, Nil after 15D.

Source data date: as of 09 Sep 2026

Frequently asked questions

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

The current NAV is ₹61.4022 as of 09 Sep 2026.

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

The fund’s returns are 39.59% over 1 year, 35.68% over 3 years and 24.93% over 5 years.

How has the fund done versus its benchmark?

It has outpaced the benchmark across the periods shown here. The benchmark return is negative over 1 month and 1 year, and lower than the fund over 3 months, 3 years and 5 years.

How does it compare with the peer funds listed here?

The fund’s 1-year return is lower than the silver-focused peers listed here, while its 3-year and 5-year returns remain positive and useful in absolute terms. The peer set shows stronger recent momentum, especially over 1 year.

Is there a minimum SIP amount?

The scheme allows SIP investing. A minimum SIP amount is not listed here, so this figure is not shown.

Who manages the fund and what is the portfolio like?

The fund is managed by Abhishek Bisen and Jeetu Valechha Sonar. The portfolio is highly concentrated, with one disclosed holding carrying 99.82% weight.

Bottom line

Kotak Gold Fund Direct Growth Plan has delivered a strong longer-term return profile and has clearly moved differently from the benchmark, especially over 1 year. Against the peer set shown here, however, the recent return picture is more modest than the silver-focused funds. The portfolio is extremely concentrated in one gold ETF holding, so the fund is best viewed as a focused gold allocation with High Risk characteristics rather than a diversified all-weather product.

Published on 10 September 2026 at 11:40 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.