Kotak Income Plus Arbitrage Omni FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak Income Plus Arbitrage Omni FOF Direct Growth Plan has a NAV of ₹13.2361 as of 17 Sep 2026 and scheme AUM of ₹7,904 Cr. Its 1-year, 3-year and 5-year returns are 5.86%, 7.54% and 0%, and the fund sits in the Medium Risk category. Our view is that it suits investors who want a relatively measured hybrid allocation, but the return pattern suggests they should expect steadier compounding rather than sharp upside.

Against the benchmark, the fund has held up better over the recent periods we can compare, and its portfolio is built almost entirely from other Kotak fixed-income and arbitrage schemes. That structure can support steadier behaviour, but it also means the outcome is tied closely to debt and arbitrage exposure rather than broad equity momentum.

Quick facts

Particular	Details
NAV	₹13.2361 as of 17 Sep 2026
AUM	₹7,904 Cr
Expense Ratio	0.07%
Launch Date	17 Nov 2022
Min SIP	₹100
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Hybrid
Exit Load	No exit load
Fund Managers	Abhishek Bisen

The fund is managed by Abhishek Bisen.

Source data date: as of 17 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.07%	-3.66%
3M	1.3%	-3.71%
1Y	5.86%	-7.13%
3Y	7.54%	5.82%
5Y	Data not available	Data not available

The near-term pattern is more resilient than the benchmark. Over 1 month and 3 months, the fund stayed positive while the benchmark was negative, which points to a smoother path through a weak market phase for the index.

That short-term resilience does not change the broader picture, but it does matter for investors who care about drawdown control. The 1-year return of 5.86% is well above the benchmark’s -7.13%, so the fund has clearly done better over the most recent 12-month window.

The longer view is more measured. The 3-year return of 7.54% is ahead of the benchmark’s 5.82%, but the gap is not large, so our view is that the fund has been able to keep pace with the benchmark rather than surge away from it. The 5-year figure is not available because the scheme has not completed that history, so the present track record is still relatively short.

The return path also suggests a fund that has had periods of stability with only modest step-ups rather than aggressive jumps. That is consistent with a hybrid FoF structure focused on arbitrage and fixed-income building blocks, where the objective is often to smooth the journey more than to chase equity-like volatility.

Source data date: as of 17 Sep 2026

Should you BUY or HOLD Kotak Income Plus Arbitrage Omni FOF?

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 Income Plus Arbitrage Omni FOF Direct Growth Plan	5.86%	7.54%	Data not available
Quant Arbitrage Fund Direct Growth Plan	7.61%	Data not available	Data not available
WOC Arbitrage Fund Direct Growth Plan	7.17%	Data not available	Data not available
Franklin India Arbitrage Fund Direct Growth Plan	7.03%	Data not available	Data not available
Motilal Oswal Arbitrage Fund Direct Growth Plan	6.94%	Data not available	Data not available
Invesco India Arbitrage Fund Direct Growth Plan	6.84%	7.49%	7.02%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639.

The fund’s 1-year return trails the stronger recent peer readings in this group, where the peer numbers shown are clustered above 6.8%. That means the recent run has been respectable, but not the strongest on the available 1-year comparisons.

On the longer horizon, the picture is mixed. The 3-year return of 7.54% is slightly ahead of Invesco India Arbitrage Fund Direct Growth Plan at 7.49%, and it is also ahead of the other peer return figures where 3-year data is not available. So the medium-term track record looks steadier than the short-term comparison might suggest.

The short-term and longer-term views therefore do not tell the same story. Recent returns are less competitive versus the peer set, while the 3-year outcome is more in line with the better available peer numbers. That split suggests a fund whose recent pace has been adequate, but whose medium-term compounding has remained orderly.

Source data date: as of 17 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Kotak Arbitrage Fund Direct Plan Growth	Domestic Mutual Funds Units	36.85%
Kotak Corporate Bond Fund Direct Growth	Domestic Mutual Funds Units	34.72%
Kotak Bond Short Term Scheme-Growth	Domestic Mutual Funds Units	20.39%
Kotak Nifty SDL Apr 2032 Top 12 Equal Weight Index Fund – Direct Growth	Domestic Mutual Funds Units	4.14%
Kotak Bond Direct Plan Growth	Domestic Mutual Funds Units	0.85%
Kotak Money Market Fund Direct Growth	Domestic Mutual Funds Units	0.77%
Kotak Crisilibx Financial Services 9 to 12 Months Debt Index Fund Direct Growth	Domestic Mutual Funds Units	0.67%
Kotak Nifty Aaa Bond Financial Services Mar 2028 Index Fund Direct Plan Growth	Domestic Mutual Funds Units	0.67%

The largest holding is Kotak Arbitrage Fund Direct Plan Growth at 36.85%, which is a large single position and is likely to have meaningful influence on the fund’s day-to-day behaviour. The next two holdings are also substantial at 34.72% and 20.39%, so the portfolio is not dependent on just one sleeve.

The weight then falls sharply after the first three positions. From 20.39% down to 4.14% and then below 1% for several holdings, the structure shows that most of the disclosed exposure sits in a small set of large positions, while the rest forms a thinner tail.

Because the top disclosed holdings together account for 99.06% of the portfolio across 8 holdings, the scheme looks highly concentrated within a compact set of underlying debt and arbitrage funds. That concentration may support clarity in portfolio construction, but it also means the fund’s outcome could remain closely tied to a few core allocations rather than a broad spread of different sources of return.

Source data date: as of 17 Sep 2026

Who should invest

This fund looks more suitable for investors with moderate risk tolerance who are comfortable with a Medium Risk hybrid product rather than a high-volatility equity fund. The 1-year and 3-year numbers show a steadier profile than the benchmark, which may appeal to investors who value smoother behaviour over fast upside.

The main trade-off is that the portfolio’s return path has been relatively controlled, so investors may not see the kind of strong growth associated with equity-led strategies. A medium-term horizon is more sensible than a very short one, because the recent one-year result and the 3-year track record give a better picture than any isolated month. The concentration in a few underlying fixed-income and arbitrage positions also means the fund is best viewed as a conservative allocation within a broader plan.

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: No exit load.

Source data date: as of 17 Sep 2026

Frequently asked questions

What is the current NAV of Kotak Income Plus Arbitrage Omni FOF Direct Growth Plan?
The current NAV is ₹13.2361 as of 17 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
Its 1-year return is 5.86% and its 3-year return is 7.54%. The 5-year return is Data not available.

How does the fund compare with Nifty 50?
It has done better than Nifty 50 over 1 month, 3 months and 1 year, and it has also stayed ahead over 3 years. The benchmark figures are -3.66%, -3.71%, -7.13% and 5.82% for those periods.

How does it compare with the peer funds listed here?
Its 1-year return of 5.86% is below the stronger recent peer readings shown here, but its 3-year return of 7.54% is slightly ahead of Invesco India Arbitrage Fund Direct Growth Plan at 7.49%.

Is there a minimum SIP?
Yes, the minimum SIP is ₹100.

Who manages the fund and what is its exit load?
The fund is managed by Abhishek Bisen. The exit load is no exit load, so units sold anytime do not attract an exit charge.

Bottom line

Kotak Income Plus Arbitrage Omni FOF Direct Growth Plan has shown a steadier recent path than its benchmark, and its 3-year return still sits above the benchmark’s 3-year figure. Compared with the peer figures shown here, the short-term pace is softer, while the medium-term result is more competitive. The fund carries Medium Risk, and its portfolio is built around a few large underlying Kotak fixed-income and arbitrage positions, so it may suit investors who prefer controlled behaviour and a conservative hybrid style over aggressive upside.

Published on 18 September 2026 at 8:21 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.