Kotak Flexi Cap Fund
Flexi CapVery HighOPEN-ENDED
- NAV as on 25 Sep 2026
- ₹82.93+0.44%1 day
- Return since launch
- 13.1%
- 52-week range
- ₹76.63 — ₹89.36
- AUM
- ₹56,392 Cr
Kotak Flexi Cap Fund is a Flexi Cap equity fund from Kotak Mahindra Mutual Fund with ₹56,392 Cr under management, launched in 2009. Over three years it has returned 3.7% a year, against 11.5% for its category. The expense ratio is 1.48% and the SEBI riskometer reading is Very High.
Performance
Kotak Flexi Cap Fund NAV and returns
Growth of the fund against its category average over the period you pick.
Over 1Y this fund returned -0.8% against -0.2% for its category.
Performance
Returns
How the fund has done against its category and its benchmark.
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1Y | -4.6% | −7.3 pts | 2.8% | 0.4% |
| 2Y | 0.3% | −3.1 pts | 3.3% | 1.1% |
| 3Y | 3.7% | −7.8 pts | 11.5% | 3.7% |
| 5Y | 9.2% | −0.6 pts | 9.8% | 9.1% |
| 7Y | 11.9% | −1.3 pts | 13.2% | 11.8% |
| 10Y | 11.9% | −0.9 pts | 12.8% | 11.5% |
| Period | Fund | vs category | Category | Benchmark |
|---|---|---|---|---|
| 1M | -3.9% | −0.6 pts | -3.3% | -3.2% |
| 3M | -2.3% | −3.1 pts | 0.8% | 0.5% |
| 6M | 5.9% | −6.1 pts | 12.0% | 11.1% |
| 1Y | -0.8% | −3.6 pts | 2.8% | -0.2% |
| 2Y | -1.7% | −0.1 pts | -1.6% | -3.2% |
| 3Y | 10.4% | −1.1 pts | 11.5% | 9.9% |
| 5Y | 9.2% | −0.6 pts | 9.8% | 8.7% |
| 7Y | 12.7% | −1.7 pts | 14.4% | 12.4% |
| 10Y | 12.0% | −0.8 pts | 12.8% | 10.9% |
Since launch (22 Jul 2009): 13.1%
Calendar-year returns
Category average11.8%
25.4%
5.0%
24.2%
16.4%
9.5%
Show as a table
| Period | Fund | vs category | Category |
|---|---|---|---|
| 2025 | 9.5% | +5.3 pts | 4.2% |
| 2024 | 16.4% | −5.4 pts | 21.8% |
| 2023 | 24.2% | −5.5 pts | 29.7% |
| 2022 | 5.0% | +3.3 pts | 1.7% |
| 2021 | 25.4% | −9.0 pts | 34.4% |
| 2020 | 11.8% | −7.2 pts | 19.0% |
Returns over one year are annualised. Shorter periods are absolute.
Costs & terms
Costs and terms
What the fund charges each year, and the rules around putting money in and taking it out.
Costs
1.48%
Expense ratio as on 22 Sep 2026
Charged yearly and already deducted from the NAV.
- Base expense
- 1.21%
- Brokerage
- 0.01%
- Transaction charges
- 0.00%
- Statutory levies
- 0.26%
- Exit load
- Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days.
- Lock-in
- None
Terms
- Min SIP
- ₹3,000
- Min lumpsum
- ₹5,000
- Plan
- GROWTH
- Fund type
- OPEN-ENDED
- Benchmark
- NIFTY 500 TRI
- Short-term capital gains
- Returns taxed at 20% if you redeem before 1 year
- Long-term capital gains
- After 1 year, returns above ₹1.25 lakh in a financial year are taxed at 12.5%
Risk
Risk
What the riskometer means for this fund, and how its ratios sit against the category.
Very High
Your principal is treated as being at very high risk — typically small cap, sectoral and thematic equity schemes.
| Ratio | Fund | Category avg | Read as |
|---|---|---|---|
| Alpha | 0.61 | 5.64 | Return earned above what the benchmark alone would have given. Higher is better. |
| Beta | 0.95 | 1.04 | How hard the fund moves when the market moves. Under 1 is steadier than the market. |
| Sharpe | 0.48 | 0.74 | Return earned for each unit of total risk taken. Higher is better. |
| Sortino | 0.60 | 0.98 | Return earned for each unit of downside risk. Higher is better. |
| Std. deviation | 14.83 | 17.32 | How widely monthly returns have varied around their own average. Lower is steadier. |
| Average of 5 category peers | |||
Portfolio
Kotak Flexi Cap Fund portfolio
Portfolio as of 31 Aug 2026
Asset allocation
- Equity98.6%
- Debt0.2%
- Other1.3%
Market cap split
- Large72.6%
- Mid24.2%
- Small3.2%
- P/E
- 25.50
- P/B
- 3.31
Top holdings
| Holding | Sector | Weight | Value | 3M chg | 6M chg | 1Y chg |
|---|---|---|---|---|---|---|
| ICICI Bank Ltd. | Financial | 5.67% | ₹3,199 Cr | +5.04% | +5.34% | +6.91% |
| Bharat Electronics Ltd. | Capital Goods | 5.40% | ₹3,046 Cr | +5.51% | +6.14% | +5.92% |
| HDFC Bank Ltd. | Financial | 4.97% | ₹2,801 Cr | +5.37% | +6.17% | +5.68% |
| State Bank of India | Financial | 4.47% | ₹2,523 Cr | +4.19% | +5.03% | +3.56% |
| Eternal Ltd. | Services | 4.07% | ₹2,297 Cr | +3.20% | +2.77% | +3.07% |
| Jindal Steel Ltd. | Metals & Mining | 4.02% | ₹2,267 Cr | +4.19% | +4.16% | +3.35% |
| Larsen & Toubro Ltd. | Construction | 3.73% | ₹2,103 Cr | +3.94% | +3.99% | +3.76% |
| Axis Bank Ltd. | Financial | 3.69% | ₹2,080 Cr | +3.76% | +3.89% | +3.12% |
| Solar Industries India Ltd. | Chemicals | 3.57% | ₹2,011 Cr | +3.33% | +2.38% | +2.57% |
| SRF Ltd. | Chemicals | 2.82% | ₹1,587 Cr | +3.10% | +2.82% | +3.31% |
| Bharti Airtel Ltd. | Communication | 2.80% | ₹1,576 Cr | +2.90% | +2.88% | +2.91% |
| Ultratech Cement Ltd. | Materials | 2.79% | ₹1,574 Cr | +2.88% | +3.07% | +4.07% |
| Interglobe Aviation Ltd. | Services | 2.51% | ₹1,413 Cr | +2.17% | +2.29% | +2.79% |
| Bharat Forge Ltd. | Automobile | 2.46% | ₹1,389 Cr | +2.36% | +2.22% | +1.36% |
| Reliance Industries Ltd. | Energy | 2.26% | ₹1,277 Cr | +2.41% | +2.45% | +2.53% |
| Zydus Lifesciences Ltd. | Healthcare | 2.14% | ₹1,209 Cr | +2.06% | +1.70% | +1.92% |
| Sun Pharmaceutical Industries Ltd. | Healthcare | 2.11% | ₹1,191 Cr | — | — | — |
| Bajaj Finance Ltd. | Financial | 2.06% | ₹1,163 Cr | +1.82% | +1.82% | +1.06% |
| Hero Motocorp Ltd. | Automobile | 1.93% | ₹1,090 Cr | +1.79% | +2.01% | +1.71% |
| Maruti Suzuki India Ltd. | Automobile | 1.92% | ₹1,084 Cr | +1.92% | +2.09% | +2.21% |
| BSE Ltd. | Services | 1.80% | ₹1,017 Cr | +2.35% | +1.48% | +0.94% |
| Infosys Ltd. | Technology | 1.72% | ₹972 Cr | +0.30% | +2.42% | +3.15% |
| AU Small Finance Bank Ltd. | Financial | 1.71% | ₹967 Cr | +1.60% | +1.50% | +1.19% |
| Thermax Ltd. | Capital Goods | 1.50% | ₹849 Cr | +1.98% | +1.19% | +1.32% |
| Petronet LNG Ltd. | Energy | 1.39% | ₹782 Cr | +1.29% | +1.48% | +1.31% |
| Kotak Mahindra Bank Ltd. | Financial | 1.38% | ₹776 Cr | +1.30% | +1.35% | +1.35% |
| Tech Mahindra Ltd. | Technology | 1.36% | ₹765 Cr | +1.27% | +1.12% | +1.30% |
| Indusind Bank Ltd. | Financial | 1.35% | ₹762 Cr | +1.25% | +1.01% | — |
| Others | Others | 1.26% | ₹694 Cr | -0.73% | -0.12% | -0.10% |
| NTPC Ltd. | Energy | 1.22% | ₹688 Cr | +1.48% | +1.21% | +0.98% |
| The Ramco Cements Ltd. | Materials | 1.20% | ₹677 Cr | +1.22% | +1.53% | +1.50% |
| Shriram Finance Ltd | Financial | 1.18% | ₹666 Cr | +1.04% | +0.57% | +0.26% |
| Billionbrains Garage Ventures Ltd. | Financial | 1.12% | ₹634 Cr | +1.08% | +0.72% | — |
| Bharat Petroleum Corporation Ltd. | Energy | 1.09% | ₹616 Cr | +1.03% | +1.29% | +1.09% |
| Ajanta Pharma Ltd. | Healthcare | 1.03% | ₹582 Cr | — | — | — |
| Power Grid Corporation Of India Ltd. | Energy | 0.93% | ₹527 Cr | +1.06% | +1.05% | +1.03% |
| Indus Towers Ltd. | Communication | 0.90% | ₹505 Cr | +1.05% | +1.04% | — |
| MRF Ltd. | Automobile | 0.90% | ₹508 Cr | +0.86% | +0.94% | +0.87% |
| Dalmia Bharat Ltd. | Materials | 0.89% | ₹501 Cr | +0.86% | +0.95% | — |
| Cipla Ltd. | Healthcare | 0.87% | ₹493 Cr | +0.89% | +0.83% | +1.05% |
| AIA Engineering Ltd. | Metals & Mining | 0.81% | ₹457 Cr | +0.88% | +0.73% | +0.61% |
| Tata Consultancy Services Ltd. | Technology | 0.77% | ₹432 Cr | +1.07% | +1.21% | +1.67% |
| Max Financial Services Ltd. | Financial | 0.75% | ₹425 Cr | +0.82% | +0.86% | +0.81% |
| Hindustan Unilever Ltd. | Consumer Staples | 0.73% | ₹413 Cr | +1.02% | +1.07% | +1.29% |
| Lenskart Solutions Ltd. | Consumer Discretionary | 0.70% | ₹397 Cr | — | — | — |
| Balkrishna Industries Ltd. | Automobile | 0.69% | ₹387 Cr | +0.68% | +0.71% | +0.73% |
| 360 One Wam Ltd. | Financial | 0.65% | ₹364 Cr | +0.62% | +0.60% | +0.59% |
| BEML Ltd. | Capital Goods | 0.65% | ₹368 Cr | +0.60% | +0.56% | +0.68% |
| Coromandel International Ltd. | Chemicals | 0.51% | ₹286 Cr | +0.48% | +0.59% | +0.65% |
| United Breweries Ltd. | Consumer Staples | 0.48% | ₹272 Cr | +0.50% | +0.59% | +0.72% |
| Manipal Health Enterprises Ltd. | Healthcare | 0.46% | ₹259 Cr | — | — | — |
| Apollo Tyres Ltd. | Automobile | 0.44% | ₹246 Cr | +0.40% | +0.45% | +0.48% |
| Krishna Institute of Medical Sciences Ltd | Healthcare | 0.44% | ₹249 Cr | — | — | — |
| Tata Chemicals Ltd. | Chemicals | 0.43% | ₹241 Cr | +0.52% | +0.47% | +0.64% |
| Godrej Consumer Products Ltd. | Consumer Staples | 0.40% | ₹225 Cr | +0.47% | +0.54% | +0.58% |
| company:896 | Financial | 0.29% | ₹164 Cr | — | — | — |
| Torrent Power Ltd. | Energy | 0.24% | ₹137 Cr | +0.29% | +0.31% | +0.26% |
| Swiggy Ltd. | Services | 0.19% | ₹109 Cr | +0.18% | +0.20% | +0.30% |
| Kotak Liquid - Plan A - Direct Plan-Growth | Unclassified | 0.18% | ₹101 Cr | +0.18% | +0.12% | +0.12% |
Sectors
Instruments
Recent changes
| Holding | From | To | Weight |
|---|---|---|---|
| Others | 1.42% | -0.04% | -1.46% |
| Sun Pharmaceutical Industries Ltd. | 1.14% | 2.11% | +0.97% |
| Indian Oil Corporation Ltd. | 0.42% | 0.00% | -0.42% |
| Ambuja Cements Ltd. | 0.37% | 0.00% | -0.37% |
| Bharat Electronics Ltd. | 5.08% | 5.40% | +0.32% |
| Eternal Ltd. | 3.77% | 4.07% | +0.30% |
| HDFC Bank Ltd. | 5.27% | 4.97% | -0.30% |
| Krishna Institute of Medical Sciences Ltd | 0.15% | 0.44% | +0.29% |
| Solar Industries India Ltd. | 3.28% | 3.57% | +0.29% |
| company:896 | 0.00% | 0.29% | +0.29% |
| Jindal Steel Ltd. | 3.73% | 4.02% | +0.29% |
| Tata Consultancy Services Ltd. | 1.05% | 0.77% | -0.28% |
| Bharti Airtel Ltd. | 3.06% | 2.80% | -0.26% |
| Manipal Health Enterprises Ltd. | 0.20% | 0.46% | +0.26% |
| Hindustan Unilever Ltd. | 0.97% | 0.73% | -0.24% |
| BSE Ltd. | 2.01% | 1.80% | -0.21% |
| Axis Bank Ltd. | 3.51% | 3.69% | +0.18% |
| Bajaj Finance Ltd. | 2.24% | 2.06% | -0.18% |
| Thermax Ltd. | 1.67% | 1.50% | -0.17% |
| Bharat Forge Ltd. | 2.59% | 2.46% | -0.13% |
| Ultratech Cement Ltd. | 2.92% | 2.79% | -0.13% |
| Maruti Suzuki India Ltd. | 2.03% | 1.92% | -0.11% |
| State Bank of India | 4.36% | 4.47% | +0.11% |
| SRF Ltd. | 2.92% | 2.82% | -0.10% |
| Lenskart Solutions Ltd. | 0.60% | 0.70% | +0.10% |
| Kotak Mahindra Bank Ltd. | 1.29% | 1.38% | +0.09% |
| Petronet LNG Ltd. | 1.30% | 1.39% | +0.09% |
| NTPC Ltd. | 1.30% | 1.22% | -0.08% |
| Godrej Consumer Products Ltd. | 0.48% | 0.40% | -0.08% |
| Power Grid Corporation Of India Ltd. | 1.01% | 0.93% | -0.08% |
| Reliance Industries Ltd. | 2.33% | 2.26% | -0.07% |
| AIA Engineering Ltd. | 0.88% | 0.81% | -0.07% |
| BEML Ltd. | 0.59% | 0.65% | +0.06% |
| Balkrishna Industries Ltd. | 0.75% | 0.69% | -0.06% |
| The Ramco Cements Ltd. | 1.26% | 1.20% | -0.06% |
| Shriram Finance Ltd | 1.12% | 1.18% | +0.06% |
| Zydus Lifesciences Ltd. | 2.09% | 2.14% | +0.05% |
| AU Small Finance Bank Ltd. | 1.66% | 1.71% | +0.05% |
| Cipla Ltd. | 0.92% | 0.87% | -0.05% |
| Coromandel International Ltd. | 0.55% | 0.51% | -0.04% |
| ICICI Bank Ltd. | 5.63% | 5.67% | +0.04% |
| Torrent Power Ltd. | 0.28% | 0.24% | -0.04% |
| United Breweries Ltd. | 0.52% | 0.48% | -0.04% |
| Ajanta Pharma Ltd. | 1.00% | 1.03% | +0.03% |
| Max Financial Services Ltd. | 0.72% | 0.75% | +0.03% |
| 360 One Wam Ltd. | 0.63% | 0.65% | +0.02% |
| Dalmia Bharat Ltd. | 0.87% | 0.89% | +0.02% |
| Tata Chemicals Ltd. | 0.45% | 0.43% | -0.02% |
| Billionbrains Garage Ventures Ltd. | 1.14% | 1.12% | -0.02% |
| Tech Mahindra Ltd. | 1.38% | 1.36% | -0.02% |
| Interglobe Aviation Ltd. | 2.49% | 2.51% | +0.02% |
| Apollo Tyres Ltd. | 0.43% | 0.44% | +0.01% |
| Bharat Petroleum Corporation Ltd. | 1.08% | 1.09% | +0.01% |
| Hero Motocorp Ltd. | 1.92% | 1.93% | +0.01% |
| Indus Towers Ltd. | 0.91% | 0.90% | -0.01% |
| Infosys Ltd. | 1.73% | 1.72% | -0.01% |
| Swiggy Ltd. | 0.20% | 0.19% | -0.01% |
| INDO-MIM Ltd. | 0.01% | 0.00% | -0.01% |
| Larsen & Toubro Ltd. | 3.72% | 3.73% | +0.01% |
| Indusind Bank Ltd. | 1.35% | 1.35% | 0.00% |
| Kotak Liquid - Plan A - Direct Plan-Growth | 0.18% | 0.18% | 0.00% |
| MRF Ltd. | 0.90% | 0.90% | 0.00% |
Compare
Similar funds
The rest of the category, so this fund’s numbers have something to sit against.
| Fund | AUM | Expense | 1Y | 3Y | 5Y |
|---|---|---|---|---|---|
| Category average | ₹5,332 Cr | 2.22% | 12.8% | 9.8% | 15.4% |
 Motilal Oswal Flexi Cap Fund | ₹14,160 Cr | 2.05% | 12.8% | 9.3% | 14.8% |
 Invesco India Flexi Cap Fund | ₹5,709 Cr | 2.07% | 5.7% | 7.8% | — |
 Bank of India Flexi Cap Fund | ₹2,953 Cr | 2.25% | 14.0% | 10.6% | 16.0% |
 360 ONE FlexiCap Fund | ₹2,250 Cr | 2.38% | 15.0% | 10.0% | — |
 ITI Flexi Cap Fund | ₹1,588 Cr | 2.34% | 16.8% | 11.6% | — |
About
About this fund
The scheme’s own words, its benchmark and the people running it.
Investment objective
The scheme seeks to generate longterm capital appreciation from a portfolio of equity and equity related securities, generally focused on a few selected sectors.
Fund managers
- Harsha UpadhyayaMr. Upadhyaya is a B.E (Mechanical) from NIT Suratkal, PGDM from IIM Lucknow and CFA from the CFA Institute, USA.Prior to joining Kotak Mutual fund he has worked with DSP Mutual Fund and UTI AMC.
Tools
Return calculator
What ₹10,000 a month in this fund would have grown to over each period, based on its past returns.
₹
| Over the past | Total investment | Would’ve become | Growth | Returns |
|---|---|---|---|---|
| 6 months5.90% absolute | ₹60,000 | ₹63,540 | 5.90% | |
| 1 year−0.78% annualised | ₹1,20,000 | ₹1,19,494 | −0.42% | |
| 3 years10.36% annualised | ₹3,60,000 | ₹4,23,740 | 17.71% | |
| 5 years9.18% annualised | ₹6,00,000 | ₹7,63,613 | 27.27% |
Returns for 1 year and longer are annualised (CAGR); 6-month figures are absolute. Past returns are not a forecast.
How this is calculated
Each monthly instalment grows at the fund’s annualised return ÷ 12 per month until the end of the period, the same formula as our SIP calculator.
The amount compounds once a year at the fund’s CAGR for that period, the same formula as our lumpsum calculator.
Questions
Frequently asked questions
The things people ask about this scheme.
What is the NAV of Kotak Flexi Cap Fund?
The NAV of Kotak Flexi Cap Fund is ₹82.93 as on 25 Sep 2026.
What is the expense ratio of Kotak Flexi Cap Fund?
The expense ratio of Kotak Flexi Cap Fund is 1.48% per year.
What is the minimum SIP amount for Kotak Flexi Cap Fund?
You can start a SIP in Kotak Flexi Cap Fund with ₹3,000 a month.
What returns has Kotak Flexi Cap Fund given?
Kotak Flexi Cap Fund has returned -4.6% over 1 year, 3.7% over 3 years and 9.2% over 5 years (annualised).
Is there a lock-in or exit load on Kotak Flexi Cap Fund?
Lock-in: None. Exit load: Exit load for units in excess of 10% of the investment,1% will be charged for redemption within 365 days..
How risky is Kotak Flexi Cap Fund?
Kotak Flexi Cap Fund is rated Very High on the SEBI riskometer and belongs to the Flexi Cap category.
Which fund house manages Kotak Flexi Cap Fund?
Kotak Flexi Cap Fund is managed by Kotak Mahindra Mutual Fund, which runs 94 schemes with ₹6,09,561 Cr under management.