Kotak Infrastructure and Economic Reform Fund
Direct · GrowthAI Summary
Kotak Infrastructure and Economic Reform Fund has delivered strong SIP XIRR across horizons, including 19.40% over 3Y and 20.17% over 10Y, outpacing the category average SIP XIRR of 16.82% and 16.71% respectively. On a lump-sum basis, the fund's CAGR has beaten the NIFTY 50 across all periods, with a 5Y CAGR of 20.63% versus the benchmark's 7.83%. Recent performance is particularly strong, with the 1Y XIRR of 24.76% well above the category average of 14.1%.
The fund shows favorable risk-adjusted behavior versus the NIFTY 50, with downside capture of 75-96% across windows and a 5Y beta of 0.93, meaning it has historically fallen less than the benchmark in down markets. However, it has experienced 6 drawdown events exceeding 10%, with the maximum drawdown lasting 802 days and taking 317 days to recover, highlighting the extended pain periods typical of thematic funds. Calmar ratios between 0.36 and 0.50 across horizons indicate reasonable compensation for the drawdown risk taken.
Holdings-level portfolio data was not provided, so composition cannot be assessed in detail. As a sectoral/thematic fund focused on infrastructure and economic reform themes, the fund is expected to carry concentrated sector exposure with higher cyclicality than diversified equity funds. Investors should verify current sector allocation and concentration levels before investing.
The fund consistently beats its category on SIP XIRR at every measured horizon, with gaps of roughly 2 to 10.7 percentage points, including 19.40% versus 16.82% over 3Y and 19.16% versus 16.25% over 12Y. Calendar year returns show strong consistency in favorable years, with gains above 33% in 2017, 2021, 2023, and 2024, though 2018 (-18.33%) and 2013 (-7.56%) show vulnerability in weak markets. This long-term outperformance across multiple horizons suggests durable stock selection rather than a short-term anomaly.
This fund suits investors with high risk tolerance and a horizon of at least 5-7 years, as the 802-day maximum drawdown duration demonstrates that recovery can take considerable time. It is best used as a satellite allocation within a diversified portfolio rather than a core holding, given its thematic concentration. Investors should be comfortable with sharp calendar-year swings, such as the -18.33% in 2018 against +58.59% in 2021.
- SIP XIRR beats the category average at every horizon, including 20.17% versus 16.71% over 10Y
- Consistent alpha versus NIFTY 50, ranging from 6.72% (10Y) to 14.82% (1Y), with downside capture below 100% across all periods
- Strong recent momentum with a 1Y XIRR of 24.76% against a category average of 14.1%
- Six drawdown events exceeding 10%, with the maximum drawdown lasting 802 days and requiring 317 days to recover
- Thematic concentration in infrastructure exposes investors to policy and cycle-driven volatility, as seen in the -18.33% return in 2018
- No holdings or sector allocation data was provided, limiting visibility into current concentration risk
Generated on 06-09-2026, 7:52 PM. Verify before investing.
Gives more importance to longer time periods (10Y, 20Y) than shorter ones (1Y, 3Y). This balances out recent outperformance and gives a more realistic picture of what long-term returns might look like.
The largest peak-to-trough decline in the fund's NAV. Shows the worst-case loss an investor would have experienced at any point in the fund's history.
If you invested ₹1,00,000 every month via SIP, here's how this fund has historically performed across different time horizons.
| Duration | Invested | Median Value | XIRR | Min XIRR | Max XIRR |
|---|---|---|---|---|---|
| 1 Year | ₹12.00 L | ₹12.96 L | 24.8% | -61.5% | 135.3% |
| 3 Years | ₹36.00 L | ₹48.05 L | 19.4% | -27.3% | 48.5% |
| 5 Years | ₹60.00 L | ₹96.94 L | 18.6% | -12.5% | 42.4% |
| 7 Years | ₹84.00 L | ₹1.62 Cr | 18.6% | -2.3% | 31.9% |
| 10 Years | ₹1.20 Cr | ₹3.33 Cr | 20.2% | 16.9% | 24.9% |
| 12 Years | ₹1.44 Cr | ₹4.86 Cr | 19.2% | 16.3% | 22.8% |
SIP returns vs benchmark & category
Annualised SIP return (XIRR) over each rolling horizon — like-for-like, not lump-sum.
| Duration | Fund SIP XIRR | NIFTY 50 | Category avg | Fund edge |
|---|---|---|---|---|
| 1 Year | 24.8% | 14.4% | 14.1% | +10.4% |
| 3 Years | 19.4% | 11.1% | 16.8% | +8.3% |
| 5 Years | 18.6% | 10.4% | 16.9% | +8.2% |
| 7 Years | 18.6% | 10.6% | 16.5% | +8.0% |
| 10 Years | 20.2% | 11.5% | 16.7% | +8.7% |
| 12 Years | 19.2% | 11.4% | 16.3% | +7.8% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 23.0% | 17.4% | -34.4% | 106.2% | 0.56 | 1.88 | 77% | — | — |
| 3 Years | 19.8% | 20.4% | -10.8% | 45.9% | 1.07 | 3.66 | 92% | — | — |
| 5 Years | 18.2% | 18.6% | -2.4% | 37.6% | 1.33 | 9.53 | 99% | — | — |
| 10 Years | 18.8% | 18.1% | 14.3% | 23.4% | 5.99 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +14.82 | 1.09 | 111.6% | 92.9% | 11.1% | -2.9% |
| 3 Years | +10.50 | 1.06 | 108.2% | 95.4% | 18.3% | 7.8% |
| 5 Years | +12.90 | 0.93 | 96.1% | 80.5% | 20.6% | 7.8% |
| 7 Years | +11.44 | 0.82 | 88.2% | 76.0% | 22.3% | 11.8% |
| 10 Years | +6.72 | 0.83 | 86.4% | 77.8% | 16.8% | 10.8% |
| 12 Years | +7.86 | 0.81 | 85.0% | 75.1% | 17.0% | 9.8% |
| 15 Years | +7.01 | 0.79 | 83.8% | 74.1% | 16.1% | 9.7% |