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

Kotak Multi Asset Omni FOF Direct Growth Plan has a NAV of ₹281.722 as of 08 Sep 2026 and an AUM of ₹2,566 Cr. Its 1-year, 3-year and 5-year returns are 10.57%, 15.55% and 15.19%, and the scheme sits in the High Risk category.

Our view is that the fund suits investors who want a multi-asset structure with stronger longer-term compounding than the benchmark, while accepting that recent returns have been uneven. The portfolio is built around a concentrated set of underlying fund and ETF holdings, which can support diversification across themes but can also make results more dependent on a handful of positions.

Quick facts

Particular	Details
NAV	₹281.722 as of 08 Sep 2026
AUM	₹2,566 Cr
Expense Ratio	0.4%
Launch Date	01 Jan 2013
Min SIP	₹100
Risk Category	High Risk
Benchmark	Nifty 50
Fund Category	Fund of Fund
Exit Load	Nil upto 8% of units and 1% for remaining units on or before 1Y, Nil after 1Y
Fund Managers	Devender Singhal, Abhishek Bisen

The fund is managed by Devender Singhal and Abhishek Bisen.

Source data date: as of 08 Sep 2026

Performance

Period	Fund return	Benchmark return
1M	-0.97%	-4.69%
3M	5.03%	0.93%
1Y	10.57%	-7.16%
3Y	15.55%	6%
5Y	15.19%	5.87%

The recent pattern is mixed, but it is better than it first appears. The 1-month return was slightly negative, while the 3-month return stayed positive, which suggests some near-term wobble rather than a clean upward run. Even so, both short windows held up better than the benchmark, which was also negative over 1 month and only mildly positive over 3 months.

The 1-year figure is much more notable. The fund’s 10.57% return comfortably stayed ahead of the benchmark’s -7.16%, so the fund protected capital far better over that stretch. That matters because the benchmark itself was weak during the period, and the fund still produced a positive outcome despite the choppier shorter-term movement.

Longer-term, the picture is stronger still. The 3-year return of 15.55% and 5-year return of 15.19% both exceed the benchmark by a wide margin, which points to better compounding through a full market cycle than a plain equity index. The 3-year figure is also slightly above the 5-year figure, so recent multi-year compounding has held up without a major deterioration in the longer record.

Overall, we see a fund that has been steadier over medium and long horizons than over very short ones. Recent movement does not change the broader advantage versus the benchmark, but it does show that returns can fluctuate before the longer trend becomes visible.

Source data date: as of 08 Sep 2026

Should you BUY or HOLD Kotak Multi Asset 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 Multi Asset Omni FOF Direct Growth Plan	10.57%	15.55%	15.19%
SBI Silver ETF FOF Direct Growth Plan	84.9%	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.

The current fund’s 1-year return is far below the silver-focused peers listed here, but that gap is not surprising because the peer set is dominated by a very different theme. The more relevant comparison is that the fund’s 3-year and 5-year returns remain solid and materially ahead of the benchmark, while the listed silver funds with available longer-term figures show higher 3-year numbers but no usable 5-year record. In our view, the short-term peer comparison tells one story, while the longer-term comparison tells another.

Source data date: as of 08 Sep 2026

Portfolio: where your money goes

Holding	Sector	Weight
Kotak Infrastructure & Economic Reform Fund Direct Growth	Domestic Mutual Funds Units	9.14%
Kotak Mutual Fund – Kotak Silver ETF	Domestic Mutual Funds Units – Silver	9.11%
Kotak PSU Bank ETF	Domestic Mutual Funds Units	8.79%
Kotak Consumption Fund Growth	Domestic Mutual Funds Units	8.52%
Kotak Nifty Bank ETF	Domestic Mutual Funds Units	8.34%
Kotak Manufacture in India Fund	Domestic Mutual Funds Units	7.87%
Kotak Mutual Fund – Kotak Gold ETF	Domestic Mutual Funds Units – Gold	6.24%
Kotak Active Momentum Fund Direct Growth	Domestic Mutual Funds Units	6.03%
Kotak Gilt Fund Direct Growth	Domestic Mutual Funds Units	5.5%
Kotak Nifty 50 ETF	Domestic Mutual Funds Units	4.83%

The largest disclosed holding is Kotak Infrastructure & Economic Reform Fund Direct Growth at 9.14%, which is large enough to matter but not so dominant that it overwhelms the rest of the portfolio. The tenth holding still carries 4.83%, so the drop from the first position to the tenth is noticeable, yet not extreme. That shape suggests a portfolio built from several meaningful positions rather than one very large anchor.

The top 10 holdings together account for approximately 74.37% of the portfolio, and 17 holdings are disclosed in total. That tells us the fund has a fairly broad tail beyond the largest names, but the visible core still carries most of the weight. In our view, the combination of several mid-sized positions and a long tail may reduce reliance on any single holding, although the top names could still have greater influence on returns than the smaller positions.

Because the disclosed holdings span domestic mutual fund units, ETFs and gilt exposure, the portfolio may behave differently from a plain equity fund. That can be useful for diversification, but it also means the outcome depends on how each sleeve performs at different points in the market cycle.

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

Source data date: as of 08 Sep 2026

Who should invest

This fund is better suited to investors who can tolerate High Risk and are willing to stay invested for a medium to long horizon. The 1-year record is positive but modest versus the stronger 3-year and 5-year history, so short-horizon investors may find the ride uneven before the longer compounding pattern shows through.

The main trade-off is that the fund has not matched the silver-heavy peer returns in the recent 1-year window, but it has done better than the benchmark over 3 and 5 years. Investors who value a multi-asset approach, with exposure spread across fund units, ETFs and gilt, may find that mix useful. Those who prefer steadier short-term outcomes or a simple index-style profile may find the variability harder to accept.

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 upto 8% of units and 1% for remaining units on or before 1Y, Nil after 1Y.

Source data date: as of 08 Sep 2026

Frequently asked questions

What is the current NAV of Kotak Multi Asset Omni FOF Direct Growth Plan?

The current NAV is ₹281.722 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 10.57%, 15.55% and 15.19%.

How has it done versus the benchmark?

It has outperformed the Nifty 50 over 1 year, 3 years and 5 years. The benchmark returns are -7.16%, 6% and 5.87% for those periods.

How does it compare with the listed peers on 1-year return?

The listed silver-focused peers have much higher 1-year returns, with figures such as 84.9%, 84.03% and 83.29%, while this fund’s 1-year return is 10.57%. The longer-term picture is different because this fund has a stronger 3-year and 5-year record versus the benchmark.

What is the minimum SIP amount?

The minimum SIP amount is ₹100.

Who manages the fund, and what is the exit load?

The fund is managed by Devender Singhal and Abhishek Bisen. The exit load is nil up to 8% of units and 1% for the remaining units on or before 1 year, and nil after 1 year.

Bottom line

Kotak Multi Asset Omni FOF Direct Growth Plan shows a clear split between short-term variability and stronger longer-term compounding. Its recent return pattern is choppier than its 3-year and 5-year history, but the longer record remains comfortably ahead of the benchmark. The peer set here is theme-heavy and much stronger on 1-year numbers, yet the fund’s multi-asset structure and spread of underlying holdings give it a different profile. For investors who can accept High Risk and prefer a diversified, multi-sleeve approach, that mix may be more relevant than chasing the strongest recent one-year figure.

Published on 10 September 2026 at 3:30 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.