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

Updated: 9 Sept 2026 • 2:53 pm

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

Kotak Liquid Fund Direct Growth Plan has a NAV of ₹5737.5188 as of 08 Sep 2026 and an AUM of ₹49,073 Cr. Its 1-year, 3-year and 5-year returns are 6.52%, 6.97% and 6.33%, respectively, and the scheme sits in the Medium Risk category.

Our view is that this is a cash-management style liquid fund with steady medium-term compounding rather than aggressive return chasing. The portfolio is built around bank certificates of deposit, commercial paper and treasury bills, which supports short-duration stability while still leaving room for modest income generation.

Table of Contents

Quick facts

Particular	Details
NAV	₹5,737.5188 as of 08 Sep 2026
AUM	₹49,073 Cr
Expense Ratio	0.2%
Launch Date	01 Jan 2013
Min SIP	₹500
Risk Category	Medium Risk
Benchmark	Nifty 50
Fund Category	Liquid
Exit Load	0.007% for Day 1, 0.0065% on Day 2, 0.0060% on Day 3, 0.0055% on Day 4, 0.0050% on Day 5, 0.0045% on Day 6, NIL on or after 7D
Fund Managers	Deepak Agrawal, Sunil Pandey

The fund is managed by Deepak Agrawal and Sunil Pandey.

Source data date: as of 08 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	0.55%	-3.86%
3M	1.7%	1.69%
1Y	6.52%	-5.72%
3Y	6.97%	6.3%
5Y	6.33%	6.05%

The recent return pattern is steady rather than dramatic. Over 1 month and 3 months, the fund stayed positive and held up well, while the benchmark moved from a sharp negative 1-month figure to a modestly positive 3-month reading. That tells us the fund has been more consistent in the short run than the benchmark line used here.

The 1-year number is especially notable because the fund stayed positive while the benchmark was negative. That gap matters for an investor who wants liquid exposure with less sensitivity to broad market swings, even if the return profile is not designed to be high.

Looking further out, the 3-year and 5-year figures show stable compounding in a narrow band around the mid-6% range. Our view is that this points to a disciplined liquid-fund profile: lower drama, limited drawdowns in the displayed periods, and returns that are more about preservation-plus-income than rapid growth.

Compared with the benchmark, the fund is ahead across every displayed period except that the 3-month gap is almost flat. The longer horizon still matters most here, because it suggests the fund has kept its return rhythm intact without needing a strong recent market tailwind.

Source data date: as of 08 Sep 2026

Should you BUY or HOLD Kotak Liquid?

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 Liquid Fund Direct Growth Plan	6.52%	6.97%	6.33%
Aditya Birla SL Liquid Fund Direct Growth Plan	6.6%	7.03%	6.4%
Axis Liquid Fund Direct Growth Plan	6.6%	7.02%	6.39%
Sundaram Liquid Fund Direct Growth Plan	6.6%	7.02%	6.37%
JioBlackRock Liquid Fund Direct Growth Plan	6.59%	Data not available	Data not available
Edelweiss Liquid Fund Direct Growth Plan	6.57%	7.03%	6.38%

This assessment is prepared by Uniapps Investment Adviser Pvt. Ltd. under SEBI Registered Investment Adviser registration INA000017639. On the available 1-year numbers, the fund is close to the better peer readings but sits just below the 6.57% to 6.6% cluster. That means the short-term picture is competitive, though not the strongest among the displayed peers.

The longer-term picture is a little different. The 3-year and 5-year returns are respectable, but peers with available history are mostly a touch ahead on both horizons. Our read is that the fund’s relative standing looks firmer on recent stability than on long-run outperformance, so the comparison does not tell one single story.

Source data date: as of 08 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Union Bank of India**	Certificate of Deposit	7.1%
National Bank for Agriculture & Rural Development**	Commercial Paper	6.24%
Small Industries Development Bank of India**	Commercial Paper	5.43%
HDFC Bank Ltd.**	Certificate of Deposit	5.06%
ICICI Securities Limited**	Commercial Paper	4.21%
HDFC Bank Ltd.	Certificate of Deposit	3.95%
91 Days Treasury Bill 12/11/2026	Treasury Bills	3.03%
91 Days Treasury Bill 27/11/2026	Treasury Bills	2.92%
91 Days Treasury Bill 24/09/2026	Treasury Bills	2.52%
Indian Overseas Bank**	Certificate of Deposit	2.52%

The top 10 holdings account for approximately 42.98% of the portfolio.

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

The largest holding, Union Bank of India**, is 7.1%, which is meaningful for a liquid fund but still not heavy enough to dominate the full portfolio on its own. The tenth holding is 2.52%, so the drop from the top name to the tenth is gradual rather than abrupt.

That shape suggests the portfolio may be spread across multiple short-term instruments instead of leaning excessively on one or two positions. With 58 disclosed holdings in total and the top 10 representing 42.98%, the visible book looks reasonably diversified within the liquid-fund format.

Because the largest weights are clustered in certificates of deposit, commercial paper and treasury bills, each top name could have some influence on short-term behavior, but the mix also indicates that no single holding appears likely to define the fund on its own.

Source data date: as of 08 Sep 2026

Who should invest

This fund may suit conservative investors who want liquid-fund exposure with a relatively steady return pattern and do not need equity-like upside. The Medium Risk label matters, but the longer-term returns have stayed in a narrow band, which points to a restrained outcome profile rather than sharp swings.

Our view is that the fund fits a short-to-medium cash parking horizon better than a long growth plan. The main trade-off is simple: you accept modest return potential in exchange for a portfolio built around short-duration instruments and a more stable experience than the benchmark line shown here.

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

Day 1: 0.007%
Day 2: 0.0065%
Day 3: 0.0060%
Day 4: 0.0055%
Day 5: 0.0050%
Day 6: 0.0045%
NIL on or after 7D

Source data date: as of 08 Sep 2026

Frequently asked questions

What is the current NAV of Kotak Liquid Fund Direct Growth Plan?
The current NAV is ₹5737.5188 as of 08 Sep 2026.

What are the fund’s 1-year, 3-year and 5-year returns?
The fund’s 1-year, 3-year and 5-year returns are 6.52%, 6.97% and 6.33%, respectively.

How has the fund performed against its benchmark?
It has been ahead of the benchmark across the displayed 1-month, 1-year, 3-year and 5-year periods, while the 3-month gap is almost flat.

How does it compare with the peer funds shown here?
Its recent return is close to the peer cluster, while the available 3-year and 5-year figures are slightly behind several peers in the table.

Is there a minimum SIP requirement?
Yes. The minimum SIP amount is ₹500.

Who manages the fund and what is the exit load?
The fund is managed by Deepak Agrawal and Sunil Pandey. Exit load is 0.007% on Day 1, 0.0065% on Day 2, 0.0060% on Day 3, 0.0055% on Day 4, 0.0050% on Day 5, 0.0045% on Day 6, and NIL on or after 7D.

Bottom line

Kotak Liquid Fund Direct Growth Plan has a steadier long-term return pattern than its benchmark and remains competitive on recent one-year performance, even if a few peer funds are slightly ahead on the available longer-horizon numbers. The Medium Risk label fits a liquid fund that aims for stability rather than excitement. Its portfolio is spread across short-term instruments, with no single holding dominating the book. For investors looking to park money in a liquid structure with measured compounding, this is a sensible profile to study.

Published on 9 September 2026 at 2:49 PM IST

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.