Kotak Manufacture in India Fund
Direct · GrowthAI Summary
Kotak Manufacture in India Fund has delivered strong returns, with a 1Y SIP XIRR of 20.16% and a 3Y SIP XIRR of 17.93%, well above the category averages of 10.68% and 16.26% respectively. On a lump-sum basis, the fund's 3Y CAGR of 18.57% significantly outpaced the NIFTY 50's 5.26%, generating alpha of 13.30% over 3 years. Calendar year returns have been consistently positive, ranging from 8.04% in 2026 to 33.63% in 2023.
The fund shows a favorable risk profile with a maximum drawdown of just -0.22% over the measured period, though it experienced 3 drawdown events exceeding 10% historically, with the longest recovery taking 202 days. Downside capture is consistently below 100% (78.75% over 1Y, 88.94% over 3Y), meaning the fund loses less than the benchmark in falling markets. Calmar ratios near 0.98-1.00 across 1Y and 3Y windows indicate solid risk-adjusted returns.
Detailed holdings data is not provided in this dataset, so specific top holdings and sector weights cannot be assessed. As a sectoral/thematic fund focused on India's manufacturing theme, the portfolio is likely concentrated in manufacturing-linked sectors such as capital goods, autos, and industrials. Investors should review the current factsheet to evaluate concentration risk within the theme.
The fund outperforms the category average SIP XIRR at both the 1Y horizon (20.16% vs 10.68%) and the 3Y horizon (17.93% vs 16.26%), placing it among the stronger performers in the sectoral/thematic space. Positive alpha across all measured periods from 1Y (20.49%) to 15Y (3.00%) suggests sustained benchmark outperformance. Calendar year returns have been positive for five consecutive years, indicating reasonable consistency.
This fund suits investors with a high risk tolerance seeking thematic exposure to India's manufacturing growth story, ideally as a satellite allocation rather than a core holding. A time horizon of at least 5-7 years is advisable given the concentrated thematic nature and the historical drawdown events exceeding 10%. Investors should be comfortable with sector concentration risk and potential periods of underperformance when the manufacturing theme falls out of favor.
- Strong SIP XIRR outperformance versus category: 20.16% vs 10.68% over 1Y and 17.93% vs 16.26% over 3Y
- Consistently positive alpha across all time horizons, with 13.30% alpha over 3Y versus NIFTY 50
- Favorable downside capture (78.75% over 1Y, 80.99% over 5Y), limiting losses in weak markets, plus a low 0.59% expense ratio
- Thematic concentration in the manufacturing sector exposes investors to elevated sector-specific risk compared to diversified funds
- Historical drawdowns exceeding 10% occurred on 3 occasions, with recovery taking up to 202 days, highlighting potential volatility in adverse markets
Generated on 23-10-2026, 2:55 AM. 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 | ₹13.04 L | 22.9% | -27.6% | 74.0% |
| 3 Years | ₹36.00 L | ₹46.46 L | 17.9% | 9.4% | 23.0% |
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 | 22.9% | 14.3% | 10.6% | +8.6% |
| 3 Years | 17.9% | 11.0% | 16.2% | +6.9% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.2% | 18.6% | -3.8% | 59.1% | 0.93 | 6.94 | 94% | — | — |
| 3 Years | 21.9% | 21.9% | 16.0% | 26.1% | 8.76 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +17.81 | 0.96 | 105.3% | 82.0% | 5.9% | -12.7% |
| 3 Years | +12.68 | 1.00 | 105.1% | 90.0% | 18.1% | 5.4% |
| 5 Years | +10.49 | 0.90 | 96.3% | 81.8% | 17.0% | 6.5% |
| 7 Years | +7.07 | 0.90 | 96.3% | 81.8% | 11.9% | 4.6% |
| 10 Years | +4.64 | 0.90 | 96.3% | 81.8% | 8.2% | 3.2% |
| 12 Years | +3.72 | 0.90 | 96.3% | 81.8% | 6.8% | 2.7% |
| 15 Years | +2.82 | 0.90 | 96.3% | 81.8% | 5.4% | 2.1% |