EquityContra FundRegularIDCWVery High

Kotak Contra Fund

Q: What is the NAV of Kotak Contra Fund?

As of 05 Oct 2026, the NAV of Kotak Contra Fund is ₹50.25 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

Q: What returns has Kotak Contra Fund delivered?

Kotak Contra Fund has returned -3.70% over 1 year, +12.71% per year over 3 years, +11.51% per year over 5 years and +6.38% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

Q: What is the expense ratio of Kotak Contra Fund?

Kotak Contra Fund charges an expense ratio of 2.02% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

Q: What are the top holdings of Kotak Contra Fund?

Kotak Contra Fund's largest holdings are ICICI BANK LTD. (6.2%), HDFC BANK LTD. (3.9%), STATE BANK OF INDIA. (3.4%), SHRIRAM FINANCE LIMITED (2.9%) and RELIANCE INDUSTRIES LTD. (2.7%). Holdings are disclosed monthly and change over time.

Q: How risky is Kotak Contra Fund?

Kotak Contra Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.6% and its worst peak-to-trough fall in our sample was -58.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

Q: What does the Sharpe ratio of 0.43 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Kotak Contra Fund's 0.43 means it has rewarded its volatility with excess return. Higher is better.

Q: What is the benchmark of Kotak Contra Fund?

Kotak Contra Fund is benchmarked against the Nifty 500 TRI. Its alpha and beta on this page are measured against that index.

Q: Who manages Kotak Contra Fund?

Kotak Contra Fund is managed by Shibani Sircar Kurian at Kotak Mahindra.

Q: How is Kotak Contra Fund taxed?

Kotak Contra Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.

Kotak Mahindra Mutual Fund · Best Contra Mutual Funds

NAV

₹50.25

+0.52% 1D

as of 05 Oct 2026

This is the Regular plan of Kotak Contra Fund — bought through a distributor, whose commission is paid out of its expense ratio. Income is distributed and reinvested in more units, which is why this NAV sits below the growth plan of the same fund.

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Performance

-4.57%absolute

52-week rangePrev NAV ₹49.99

Latest ₹50.25

Low ₹46.9843rd percentile of its 52-week rangeHigh ₹54.61

Scorecard

Not rated

How this is computed

Each verdict is computed from this fund's own metrics against its sub-category — the number behind it is shown, not a black-box rating. Not rated — too few comparable Equity funds (same plan and option) to rank against yet.

Performance—

Not enough Contra Fund peers to rank yet

Risk—

Volatility 14.6% (no category average yet)

Cost—

2.0% expense (no category average yet)

ConsistencyModerate

83% of rolling 3Y windows were positive

Key Metrics

Annual fee charged by the fund, already deducted from NAV

2.02%

Category —

Portfolio-weighted harmonic mean P/E across the fund's equity holdings

—

Category —

Excess return per unit of total volatility (rf = 6.5%)

0.43

Category —

Scheme Info

Definitions

Plan

Regular · IDCW

Period before units can be redeemed — 3 years for ELSS, none for most open-ended funds

None

For redemption / switch out within 90 days from the date of allotment: 1% If units are redeemed or switched out on or after 90 days from the date of allotment - Nil. Any exit load charged (net off Goods and Services, if any) shall be credited back to the Scheme. Units issued on reinvestment of IDCW shall not be subject to entry and exit load.

Up to 1.00%

tiered — see the full terms

Statutory levy on every mutual-fund purchase since 1 Jul 2020 (SEBI / Govt of India) — the same for every scheme

0.005%

SIP Inv.

Allowed

Smallest recurring SIP instalment the scheme accepts

₹100

Smallest one-time (lumpsum) investment the scheme accepts

₹100

Nifty 500 TRI

Start of our NAV history for this plan. Direct plans begin 1 Jan 2013, so this is the plan's inception — not necessarily the scheme's original launch date.

03 Apr 2006

Period returns (<1Y, absolute — not annualized)

Definitions

Absolute return over the last 1 month (not annualized)

-5.15%

Absolute return over the last 3 months (not annualized)

-5.17%

Absolute return over the last 6 months (not annualized)

+5.35%

Absolute return since 1 Jan of this year (not annualized)

-7.11%

Annualized returns (≥1Y — CAGR)

Definitions

1-year point-to-point return, annualized (CAGR)

-3.70%

3-year annualized return (CAGR)

+12.71%

5-year annualized return (CAGR)

+11.51%

10-year annualized return (CAGR)

+9.44%

Annualized return (CAGR) since the first NAV we hold for this plan — the Inception date under Key metrics. AMFI's history starts in April 2006, so an older scheme is measured from there.

+6.38%

Advanced metrics — risk and benchmark ratios

Risk (trailing 3Y)

Definitions

Annualized standard deviation of daily returns

14.58%

Excess return per unit of total volatility (rf = 6.5%)

0.43

Excess return per unit of downside deviation — upside swings aren't penalized (rf = 6.5%)

0.57

Largest peak-to-trough decline over full history

-58.36%

Benchmark ratios (vs Nifty 500 TRI · 36 monthly returns)

Definitions

Jensen's alpha (annualized): return above what CAPM predicts for the fund's beta vs Nifty 500 TRI

2.43%

Sensitivity to Nifty 500 TRI moves; 1 = moves with the index

1.00

How much of the fund's movement Nifty 500 TRI explains

96.1%

Excess return per unit of beta (market risk)

5.82

Active return over the benchmark per unit of tracking error

0.83

Annualized std dev of fund-minus-benchmark returns

3.17%

Fund's share of benchmark gains in up months (100 = matches index)

108.5%

Fund's share of benchmark losses in down months (lower is better)

98.5%

Computed vs the Nifty 500 TRI over the last 36 complete months — the closest match to this fund's mandate. TRI means dividends reinvested, as they are in the fund's own NAV; ₹ means a US index converted at each day's USD/INR, since the fund is priced in rupees. Needs ~3 years of history; a low R² means the fund tracks the index loosely.

Fund vs category average (Contra Fund)

Period	Fund	Category avg.	Diff
1M abs	-5.15%	—	—
3M abs	-5.17%	—	—
6M abs	+5.35%	—	—
1Y CAGR	-3.70%	—	—
3Y CAGR	+12.71%	—	—
5Y CAGR	+11.51%	—	—

Category average across peers in Contra Fund, same plan and option, excluding this fund. Under-1-year figures are absolute; 1Y and beyond are annualised (CAGR).

Not sure what a figure means? The glossary explains every metric, and the methodology shows the formulas.

Backtest this fund

What a SIP or one-time investment would have grown to over this fund’s real NAV history.

Monthly investment (₹)

Period

Invested

₹6.00L

Current value

₹7.73L

Absolute

+28.88%

XIRR

+10.41%

Value vs. invested

ValueInvested

60 monthly installments of ₹10,000 into Kotak Contra Fund, valued at the latest NAV. XIRR annualizes for each installment’s timing.

Calendar-year returns

What the fund actually returned in each year, not the smoothed average.

Year	Fund	Nifty 500 TRI	Diff
2026part	-7.11%	-7.18%	+0.07%
2025	+7.43%	+7.94%	-0.51%
2024	+22.10%	+16.43%	+5.67%
2023	+35.01%	+27.43%	+7.58%
2022	+7.37%	+4.34%	+3.03%
2021	+30.17%	+31.59%	-1.42%
2020	+8.49%	+18.33%	-9.84%
2019	-1.23%	+8.95%	-10.18%
2018	-17.98%	-2.33%	-15.65%
2017	+31.35%	+37.35%	-6.00%

January–December, from this fund's NAV history. Absolute return, not annualised. “part” marks a year the fund didn't run end to end — its first year, the current year so far, or one it stopped reporting in; those years show no benchmark comparison.

History points

5,047

Expense ratio

2.02%

AUM

₹73.88Cr

Portfolio turnover

38%

Exit load

Taxation

Taxed as equity

This is an equity-oriented fund (≥65% in Indian equities), so gains get the concessional capital-gains rates below — they do not add to your income-tax slab.

Short-term (STCG)

20%

Held under 1 year

Flat, on the whole gain

Long-term (LTCG)

12.5%

Held 1 year or more

On gains above ₹1.25 L per financial year

Applies to capital gains on redemption. Excludes IDCW/dividend tax, STT, surcharge and cess, and pre-2018 equity grandfathering. For research only — consult a tax advisor before filing.

Peer comparison · Contra Fund

Compare all


Kotak Contra FundThis fund Kotak Mahindra · Regular · IDCW	—	-3.70%	+12.71%	+11.51%	—	—	—
SBI Contra Fund SBI · Regular · IDCW	—	-5.33%	+8.53%	+12.91%	—	1.63%	₹45,949Cr
Invesco India Contra Fund Invesco · Regular · IDCW	—	-13.92%	+7.97%	+6.19%	—	1.85%	₹19,492Cr
Bandhan Contra Fund Bandhan · Regular · Annual IDCW	—	—	—	—	—	3.94%	—
Motilal Oswal Contra Fund Motilal Oswal · Regular · IDCW	—	—	—	—	—	3.85%	₹98.62Cr
Kotak Contra Fund Kotak Mahindra · Direct · Growth	★★★★☆ CAT	-2.49%	+14.18%	+13.00%	20.06	0.80%	₹5,086Cr

Asset allocation

As on 31 Aug 2026 · AMC disclosure

Equity98.27%
Cash & Equivalents1.73%

Worst falls, and the wait to get back

How far this fund has dropped from a high, and how long it took to reclaim it.

-58.4%04 Jan 2008 → 09 Mar 2009
Fell over 14 months, back to the old high on 27 Jan 2015 — 5.9 years under water after the low.
-49.2%23 Jan 2018 → 23 Mar 2020
Fell over 2.2 years, back to the old high on 03 Jun 2021 — 14 months under water after the low.
-37.0%10 May 2006 → 14 Jun 2006
Fell over 35 days, back to the old high on 29 Jun 2007 — 12 months under water after the low.

Measured on this fund’s own NAV history, peak to trough to the day it regained the peak. Falls shallower than 5% are left out. A recovery date is when the NAV got back, not when any particular investor did — that depends on when they bought.

AMC Profile

Kotak Mahindra Mutual Fund is run by Kotak Mahindra Asset Management, part of the Kotak Mahindra Bank group, and has been in the business since 1998. It was the first Indian fund house to launch a dedicated gilt scheme, and today runs one of the country's larger equity and debt line-ups.

Launched

04 Aug 1994

Total AUM

₹5,90,460Cr+1.6% QoQ

Avg AUM · April - June 2026

Website

kotakmf.com

Fund Managers

SKShibani Sircar KurianStart date not disclosed

Role

Sr, EVP, Senior Fun d Manager & Head – Equity Research

Education

PGDM (Specialization in Finance), BSc (Hons)- Economics

Experience

Ms. Shibani Kurian has been associated with the company since November 2007 and her key responsibilities include equity fund management and Head- Equity Research and ESG coordinator for the firm. Prior to joining Kotak AMC, she was working with Dawnay Day AV India Advisors Pvt Ltd and UTI AMC.

Funds managed (6)

All schemes Shibani Sircar Kurian runs →

Fund manager, benchmark and dealing terms from this scheme's SEBI-filed Scheme Information Document on AMFI. Each manager's qualifications and role are reconciled across every filing this fund house makes for them, including its Statement of Additional Information. Total AUM via AMFI.

Explore from here

Fund managers

Shibani Sircar Kurian

Kotak Mahindra in the news

Headlines about the fund house, not this scheme in particular — highlights only; tap through to read the full story at the source.

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Returns and risk are computed from NAV history and may differ slightly from other portals due to methodology (rolling vs point-to-point, dividend treatment). For research only — not investment advice.

About Contra funds

Contra funds take contrarian bets — buying out-of-favour stocks or sectors the market has written off, wagering on a turnaround. The approach can be early and needs time to play out.

Frequently asked questions

What is the NAV of Kotak Contra Fund?

As of 05 Oct 2026, the NAV of Kotak Contra Fund is ₹50.25 per unit. NAV (net asset value) is the fund's per-unit price, published once each business day.

What returns has Kotak Contra Fund delivered?

Kotak Contra Fund has returned -3.70% over 1 year, +12.71% per year over 3 years, +11.51% per year over 5 years and +6.38% per year since inception. Figures beyond one year are annualised (CAGR) and are computed from AMFI NAV history, so they may differ slightly from other portals.

What is the expense ratio of Kotak Contra Fund?

Kotak Contra Fund charges an expense ratio of 2.02% per year. This annual fee is already deducted from the NAV, so the returns you see are net of it.

What are the top holdings of Kotak Contra Fund?

Kotak Contra Fund's largest holdings are ICICI BANK LTD. (6.2%), HDFC BANK LTD. (3.9%), STATE BANK OF INDIA. (3.4%), SHRIRAM FINANCE LIMITED (2.9%) and RELIANCE INDUSTRIES LTD. (2.7%). Holdings are disclosed monthly and change over time.

How risky is Kotak Contra Fund?

Kotak Contra Fund is rated very high on SEBI's risk-o-meter, its trailing-3Y volatility (annualised) is 14.6% and its worst peak-to-trough fall in our sample was -58.4%. Higher volatility means the NAV swings more; the drawdown shows how far it has fallen from a peak historically.

What does the Sharpe ratio of 0.43 mean?

The Sharpe ratio is return earned per unit of total risk, above a 6.5% risk-free rate. Kotak Contra Fund's 0.43 means it has rewarded its volatility with excess return. Higher is better.

What is the benchmark of Kotak Contra Fund?

Kotak Contra Fund is benchmarked against the Nifty 500 TRI. Its alpha and beta on this page are measured against that index.

Who manages Kotak Contra Fund?

Kotak Contra Fund is managed by Shibani Sircar Kurian at Kotak Mahindra.

How is Kotak Contra Fund taxed?

Kotak Contra Fund is an equity-oriented fund, so its capital gains get concessional rates: short-term gains (units held under 1 year) are taxed at 20%, and long-term gains (held 1 year or more) at 12.5% above a ₹1.25 lakh per-year exemption. These rates apply on redemption and don't add to your income-tax slab.