Kotak Multi Asset Active FOF Direct Growth Review 2026: NAV, Returns, Portfolio & Should You Invest?

Kotak Multi Asset Active FOF Direct Growth Plan is valued at ₹10.074 as of 16 September 2026, with scheme AUM of ₹79 Cr. Its 1-year, 3-year and 5-year returns are 0%, 0% and 0%, and the fund sits in the High Risk category. In our view, this is best read as a newly launched multi-asset allocation fund that is still building a live track record rather than a mature performance story.

The portfolio already shows a diversified structure across equity-oriented funds, debt-like liquid exposure, gold, silver and cash. That mix can help spread risk across assets, but the current return history is too short to judge consistency across market cycles.

Quick facts

Particular	Details
NAV	₹10.074 as of 16 Sep 2026
AUM	₹79 Cr
Expense Ratio	0.0%
Launch Date	27 Apr 2026
Min SIP	₹500
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Equity
Exit Load	NIL upto 8% of units and 1% for remaining units on or before 6M, Nil after 6M
Fund Managers	Devender Singhal, Abhishek Bisen

The fund is managed by Devender Singhal and Abhishek Bisen.

Source data date: as of 16 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-3.02%	-4.41%
3M	-0.88%	-3.60%
1Y	0%	Data not available
3Y	0%	Data not available
5Y	0%	Data not available

The short-term pattern has been weak, but the fund has still held up better than the benchmark over both 1 month and 3 months. That tells us the portfolio has not been immune to the recent pressure, yet it has lost less ground than Nifty 50 over the same windows.

Because the fund launched only in late April 2026, the 1-year, 3-year and 5-year figures are not yet meaningful measures of realised compounding. For now, they should be treated as unavailable for practical comparison rather than as a mature return history.

The daily pattern also suggests mild recovery phases followed by renewed softness, which is consistent with a young multi-asset structure adjusting to changing market conditions. Our view is that this is a fund to watch for how its allocation framework behaves over time, not one to judge on a full-cycle record yet.

Against the benchmark, the fund has shown relative resilience recently, but the absolute return picture is still negative over the listed short windows. That leaves the current story more about capital preservation and portfolio construction than about strong compounding so far.

Source data date: as of 16 Sep 2026

Should you BUY or HOLD Kotak Multi Asset Active 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.

Already holding Kotak Multi Asset Active FOF? Thinking of investing now?

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Peer comparison

Fund	1Y return	3Y return	5Y return
Kotak Multi Asset Active FOF Direct Growth Plan	0%	0%	0%
Axis Gold and Silver Passive FOF Direct Growth Plan	Data not available	Data not available	Data not available
HSBC Gold ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Bandhan Silver ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
The Wealth Company Gold ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available
Mirae Asset BSE Midcap 150 Momentum 30 ETF FOF Direct Growth Plan	Data not available	Data not available	Data not available

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

In the peer set, the current fund’s short-term showing is stronger than the benchmark-linked comparison funds where short-term figures are visible only for the current fund. That makes the fund’s recent behaviour easier to read than its longer-term record, which is still not established.

Since the peer entries do not carry usable 1-year, 3-year or 5-year return figures, the table does not support a fuller long-horizon comparison. The meaningful takeaway is that the current fund has a live short-term track record, while the peer list here is largely not yet informative on past returns.

So the peer section tells a different story from the performance section: recent resilience can be compared, but long-term relative positioning cannot yet be judged from the visible return history.

Source data date: as of 16 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Kotak Large & Midcap Fund Direct Growth	Domestic Mutual Funds Units	13.78%
Kotak Small Cap Fund Direct Growth	Domestic Mutual Funds Units	12.27%
Kotak Midcap Fund Direct Growth	Domestic Mutual Funds Units	10.07%
Nippon India Silver ETF	Domestic Mutual Funds Units – Silver	9.48%
Kotak Focused Fund Direct Growth	Domestic Mutual Funds Units	9.24%
Kotak Flexicap Fund Direct Growth	Domestic Mutual Funds Units	9.03%
ICICI Prudential Ultra Short Term Fund	Domestic Mutual Funds Units	8.99%
Nippon India ETF Gold Bees	Domestic Mutual Funds Units – Gold	7.57%
Axis Ultra Short Term Fund	Domestic Mutual Funds Units	7.04%
Triparty Repo	Cash & Cash Equivalents and Net Assets	6.79%

The top 10 holdings account for approximately 94.26% of the portfolio.

To see all holdings, visit the Kotak Multi Asset Active FOF Direct Growth Plan page

The largest holding is Kotak Large & Midcap Fund Direct Growth at 13.78%, which is sizeable but not overwhelming on its own. The drop from the first holding to the tenth is gradual rather than abrupt, which suggests the portfolio is built through a series of meaningful allocations instead of one dominant position.

Because the top 10 holdings already account for 94.26% of the disclosed portfolio and there are 11 total holdings shown, the structure appears fairly concentrated in the visible book. At the same time, that concentration is spread across multiple fund units and liquid or metal exposures, so no single line explains the whole portfolio.

In our view, the mix of equity funds, gold, silver, ultra-short-term funds and repo may help reduce dependence on one market engine, while still leaving the overall result sensitive to how these sleeves behave together. That makes the allocation profile more layered than a simple equity fund, but it also means returns may vary as each asset class moves differently.

Source data date: as of 16 Sep 2026

Who should invest

This fund fits investors who are comfortable with High Risk and who can stay invested long enough for a multi-asset allocation approach to work through different market phases. A shorter horizon is hard to justify here because the fund is newly launched and the visible long-horizon return history is not yet established.

The main trade-off is between diversification and proof of performance. The portfolio is spread across equity-oriented funds, precious-metals exposure and liquidity sleeves, but the current track record is still too short to show how that mix behaves across a full cycle.

For investors who want an early-stage multi-asset fund and can tolerate uncertainty, the structure may be interesting. For those who need a proven long-term record, the lack of mature history is a clear limitation.

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: NIL up to 8% of units and 1% for the remaining units if sold within 6 months; no exit load after 6 months.

Source data date: as of 16 Sep 2026

Frequently asked questions

What is the current NAV of Kotak Multi Asset Active FOF Direct Growth Plan?
The current NAV is ₹10.074 as of 16 September 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 0%, 0% and 0%.

How has the fund compared with Nifty 50 recently?
It has held up better than Nifty 50 over the 1-month and 3-month periods, but both the fund and the benchmark have been weak in the short run.

How does it compare with the peer funds listed here?
The current fund is the only one in this set with visible short-term return figures, so a full long-term comparison is not available from the listed return data.

Is there a minimum SIP amount?
Yes, the minimum SIP amount is ₹500.

What are the risk and portfolio characteristics of this fund?
It is marked High Risk and uses a multi-asset structure with equity fund units, gold, silver, ultra-short-term funds and cash-like exposure. The top 10 disclosed holdings account for approximately 94.26% of the portfolio, so the visible structure is concentrated across a small number of major sleeves.

Bottom line

Kotak Multi Asset Active FOF Direct Growth Plan is still too young for a mature long-term return verdict, but its short-term behaviour has been better than the benchmark. The fund’s portfolio is diversified across equity-oriented funds, precious metals and liquidity sleeves, which may help spread risk, yet the visible allocation remains concentrated in a small set of holdings. In our view, it suits investors who can tolerate High Risk, accept an early-stage track record and wait for the multi-asset strategy to show how it behaves over time.

Published on 17 September 2026 at 4:31 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.