Kotak Manufacture in India Fund
Direct · GrowthAI Summary
Kotak Manufacture in India Fund has delivered strong returns, with a 1Y SIP XIRR of 22.99% and 3Y XIRR of 18.14%, well ahead of the category averages of 14.1% and 16.82% respectively. Against the NIFTY 50, the fund has generated substantial alpha of 25.66% over 1Y and 14.24% over 3Y, with the fund's 3Y CAGR of 22.0% far exceeding the benchmark's 7.75%. Positive alpha persists across all long-term windows, including 11.54% over 5Y and 5.10% over 10Y.
The fund shows a maximum drawdown of just -0.22% with a 154-day drawdown duration and 202-day recovery, though it has experienced 3 drawdown events exceeding 10%, indicating episodic volatility typical of thematic funds. Downside capture is favorable at 80.19% over 1Y and 90.2% over 3Y, meaning the fund has lost less than the benchmark in falling markets. Calmar ratios near 1.0 across 1Y (1.0082) and 3Y (0.9924) suggest reasonable risk-adjusted returns relative to drawdown depth.
Detailed holdings and sector allocation data were not provided in this dataset, so portfolio-level commentary is limited. As a sectoral/thematic fund focused on India's manufacturing theme, it is inherently concentrated in manufacturing-linked sectors such as capital goods, industrials, and auto components. Investors should review the latest factsheet for specific stock weights and sector concentration before investing.
The fund outperforms the sectoral/thematic category on SIP XIRR at both the 1Y horizon (22.99% vs 14.1%) and 3Y horizon (18.14% vs 16.82%). Calendar year returns show consistency, with positive returns every year from 2022 to 2026, ranging from 8.39% in 2025 to 33.63% in 2023. This combination of category-beating returns and steady annual performance positions it among the stronger thematic offerings.
This fund suits investors with high risk tolerance who want targeted exposure to India's manufacturing growth story and already hold diversified core equity funds. A horizon of at least 5-7 years is advisable, as thematic funds can underperform for extended cycles. It should be treated as a satellite allocation rather than a core holding, ideally through SIPs to smooth entry timing.
- Consistent alpha over the NIFTY 50 across all measured windows, from 25.66% over 1Y to 5.10% over 10Y
- SIP XIRR of 22.99% (1Y) and 18.14% (3Y) comfortably beats category averages of 14.1% and 16.82%
- Favorable downside capture (80.19% over 1Y) with positive calendar-year returns in each of the last five years
- As a sectoral/thematic fund, it carries concentration risk tied to the manufacturing cycle and should not be a core holding
- The fund has seen 3 drawdown events exceeding 10%, with a 202-day recovery from its maximum drawdown, highlighting episodic volatility
Generated on 11-09-2026, 3:12 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 | ₹13.03 L | 23.0% | -27.6% | 74.0% |
| 3 Years | ₹36.00 L | ₹46.70 L | 18.1% | 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 | 23.0% | 14.4% | 14.1% | +8.6% |
| 3 Years | 18.1% | 11.1% | 16.8% | +7.0% |
| Duration | Mean | Median | Min | Max | Sharpe | Sortino | % Positive | Cat. Mean | Cat. Median |
|---|---|---|---|---|---|---|---|---|---|
| 1 Year | 22.4% | 18.7% | -3.8% | 59.1% | 0.93 | 6.89 | 94% | — | — |
| 3 Years | 22.1% | 22.1% | 16.0% | 26.1% | 9.06 | — | 100% | — | — |
Calmar Ratio by Duration
Compared against NIFTY 50
| Duration | Alpha | Beta | Upside Capture | Downside Capture | Fund CAGR | Bench CAGR |
|---|---|---|---|---|---|---|
| 1 Year | +25.66 | 0.99 | 112.8% | 80.2% | 22.9% | -2.9% |
| 3 Years | +14.24 | 1.01 | 107.3% | 90.2% | 22.0% | 7.8% |
| 5 Years | +11.54 | 0.91 | 97.3% | 81.2% | 19.3% | 7.9% |
| 7 Years | +7.76 | 0.91 | 97.3% | 81.2% | 13.4% | 5.6% |
| 10 Years | +5.10 | 0.91 | 97.3% | 81.2% | 9.2% | 3.9% |
| 12 Years | +4.10 | 0.91 | 97.3% | 81.2% | 7.6% | 3.2% |
| 15 Years | +3.13 | 0.91 | 97.3% | 81.2% | 6.1% | 2.6% |