📊 Mid Cap Fund · Deep Analysis

Kotak Midcap Fund

Kotak Mutual Fund · Direct Growth · SEBI Category: Mid Cap

Current NAV ₹162.1480 (+0.59% today) As of 04 Jun 2026
1 Year Return +7.8%
3 Year CAGR +21.1% p.a.
5 Year CAGR +18.8% p.a.
AAUM ₹59.2K Cr Jan–Mar 2026
All data from RightAdvise DB — calculated from 2,565 daily NAV records
Fund Overview

Kotak Midcap Fund — Quick Summary

Kotak Emerging Equity Fund is managed by Pankaj Tibrewal, widely regarded as one of India's best mid and small cap stock pickers. With over 15 years of experience at Kotak AMC and a consistent investment philosophy, Tibrewal is known for identifying quality companies early in their growth curve before they gain wider recognition. The fund has one of the best risk-adjusted return track records in the mid cap category.

The fund follows a bottom-up stock selection approach, focusing on companies with strong management quality, scalable business models and reasonable valuations. It maintains a relatively concentrated portfolio of 40 to 60 stocks with high conviction in each position. The fund's expense ratio of 0.37% makes it one of the most cost-efficient actively managed mid cap funds in India.

Fund House
Kotak Mutual Fund
SEBI Category
Mid Cap
Benchmark
NIFTY Midcap 150 TRI
Fund Manager
Pankaj Tibrewal
AMFI Code
119775
Risk Level
Very High
NAV Records in DB
2,565 days
Quarterly Average AUM · Jan–Mar 2026
₹59.2K Cr
↓ Decreased by 1.0% vs Oct–Dec 2025 · ₹59.8K Cr
Official quarterly average AUM from AMFI disclosure. Published every 3 months.
📊
✓ Suitable For
Ideal for long-term investors (7 to 10+ years) with high risk tolerance who want a quality-growth oriented mid cap fund managed by one of India's most respected mid cap fund managers.
The fund stands out for Pankaj Tibrewal's exceptional stock-picking track record, one of the lowest expense ratios in the active mid cap category (0.37%), consistent risk-adjusted returns reflected in strong Sharpe and Sortino ratios, and a disciplined quality-growth investment approach.
✗ Not Suitable For
Investors with horizons under 5 years — mid cap funds require patience through deep drawdowns. Conservative investors prioritising capital preservation — mid cap funds can fall 50%+ in severe bear markets. Those wanting benchmark-hugging performance — Pankaj Tibrewal takes high-conviction concentrated bets that can significantly diverge from the index.
Who Runs This Fund

Fund Manager

PT
Pankaj Tibrewal
Kotak Mutual Fund · Managing since 2010

Pankaj Tibrewal is Senior Executive Vice President and Fund Manager at Kotak Mutual Fund and has been managing the Kotak Emerging Equity Fund for many years. He is widely regarded as one of India's best mid cap fund managers, known for identifying quality growth businesses early in their lifecycle before they become expensive. His long tenure on this specific fund has built a strong track record across multiple market cycles.

For current co-manager details and full biography, refer to the latest Kotak Mutual Fund factsheet on AMFI or the AMC website.

What to Factor In

Things to Consider

Informational points to help you form your own view — not judgements or recommendations.

AMFI Code · Informational
AMFI Scheme Code: 119775
The official AMFI scheme code for Kotak Midcap Fund Direct Growth is 119775. Use this when transacting on platforms or verifying data across databases.
Important Note
Points Worth Knowing
Kotak Emerging Equity Fund uses a SEBI-defined mid cap universe — companies ranked 101 to 250 by market capitalisation. As companies grow and move into large cap territory, the fund must sell them and reinvest in smaller companies. This structural turnover is inherent to the mid cap category and means past portfolio winners are continuously replaced.
Investment Objective
As per Scheme Information Document
The investment objective of the scheme is to generate long-term capital appreciation from a portfolio of equity and equity related securities by investing predominantly in mid and small cap companies.
All Data Below — From RightAdvise Database
Category Comparison

Top 5 Mid Cap Funds Compared

Live data. Current fund highlighted. Click any fund name for full analysis.

FundNAVAAUM1Y Return 3Y CAGR 5Y CAGR Sharpe (3Y)
HDFC Mid-Cap Opportunities Fund ₹219.94 ₹90.4K Cr Jan–Mar 2026 +5.5% +22.1% p.a. +20.7% p.a. 1.19
Nippon India Growth Fund ₹4,781.46 ₹40.7K Cr Jan–Mar 2026 +7.3% +23.8% p.a. +21.6% p.a. 1.20
Kotak Emerging Equity Fund ▲ ₹162.15 ₹59.2K Cr Jan–Mar 2026 +7.8% +21.1% p.a. +18.8% p.a. 1.05
Axis Midcap Fund ₹135.29 ₹30.8K Cr Jan–Mar 2026 +5.1% +18.3% p.a. +15.8% p.a. 0.90
SBI Magnum Midcap Fund ₹261.72 ₹22.1K Cr Jan–Mar 2026 +0.9% +14.3% p.a. +16.4% p.a. 0.66
Best value in each column shown in green. AAUM from latest AMFI quarterly filing. Returns calculated from daily NAV history.
Performance

Fund Returns

Calculated from 2,565 daily NAV records in RightAdvise DB. Last calculated: Jun 2026.

1M / 3M / 6M / 1Y — simple point-to-point return  ·  3Y / 5Y / 10Y — CAGR (compounded annual growth rate)

1 MonthPoint-to-point
+0.6%
3 MonthPoint-to-point
+2.7%
6 MonthPoint-to-point
+1.7%
1 YearPoint-to-point
+7.8%
3 YearCAGR
+21.1% p.a.
5 YearCAGR
+18.8% p.a.
10 YearCAGR
+18.9% p.a.
₹1 Lakh → 5YLump sum growth
₹232,811

Best & Worst Periods Ever

Based on all rolling windows in full NAV history. Dates show the start and end of each period.

Best 1Y WindowSimple return
+110.8%
Apr 2020 – Apr 2021
Worst 1Y WindowSimple return
-25.3%
Mar 2019 – Mar 2020
Best 3Y CAGRCAGR p.a.
+41.0% p.a.
Mar 2020 – Apr 2023
Worst 3Y CAGRCAGR p.a.
-4.1% p.a.
Feb 2017 – Mar 2020

Calendar Year Returns

Jan 1 to Dec 31 each year. Simple point-to-point — not CAGR.

2025
+2.9%
2024
+35.0%
2023
+33.0%
2022
+6.4%
2021
+49.2%
2020
+23.5%
2019
+10.2%
2018
-10.7%
2017
+45.0%
Consistency Analysis

Rolling Returns ℹ️ What is this?

Rolling returns show performance across every possible investment start date — not one cherry-picked number. Learn more →

1Y Rolling Avg
22.4%
Positive in 86% of windows
Best: 110.8% · Worst: -25.3%
3Y Rolling Avg
20.7% p.a.
Positive in 97% of windows
Best: 41.0% · Worst: -4.1%
5Y Rolling Avg
22.5% p.a.
Positive in 100% of windows
Best: 36.6% · Worst: 12.9%
1-Year Rolling Returns Each bar = 1Y return starting from that date
Risk Analysis

Maximum Drawdown ℹ️ What is this?

How much the fund fell from its peak NAV — what investors actually experience during crashes. Calculated from full NAV history.

Max Drawdown Ever
-36.0%
Feb 2020 → Mar 2020
Recovered: Nov 2020 (11 mos)
Current from Peak
-2.7%
All-time Peak: ₹166.00
Peak date: May 2026

How the fund behaved in key crisis periods

Calculated from actual NAV data. "Pre-inception" means the fund didn't exist during that period.

2024–25 Tariff / Correction
-20.9%
Sep 27, 2024 – Apr 7, 2025
Recovered: Jul 2025 (7 mos)
COVID-19 Crash
-35.5%
Feb 19 – Mar 23, 2020
Recovered: Nov 2020 (11 mos)
2022 Rate Hike Cycle
-15.5%
Jan 17 – Jun 17, 2022
Recovered: Aug 2022 (3 mos)
2018 IL&FS Crisis
-16.6%
Aug 28 – Oct 26, 2018
Recovered: Nov 2019 (1yr 7mo)
Risk Metrics

Risk Ratios

Calculated from 3 years of daily NAV — industry standard. Risk-free rate: 6.5% p.a. Last updated: Jun 2026. What do these mean? →

Sharpe Ratio (3Y)
1.05
Return per unit of total risk. >1 is good. Learn more →
Sortino Ratio (3Y)
1.44
Like Sharpe but only penalises downside volatility. Learn more →
Std Deviation (3Y)
15.6%
Annualised monthly volatility. Lower = more consistent returns. Learn more →
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Want to see what Kotak Midcap Fund is actually holding?

Our portfolio holdings page shows every stock the fund owns, sector allocation, and month-over-month changes — from official AMC disclosures.

Full current portfolio — all stocks, weights, sectors
New entries and exits over the last 3 months
Sector allocation and month-over-month changes
Updated monthly from official AMC disclosures
See Portfolio Holdings →
← Compare all Mid Cap Funds

See how Kotak Midcap Fund ranks against other Mid Cap funds on returns, drawdown, Sharpe ratio and AAUM — side by side.

Learn the Metrics
📖 Deep Dive
CAGR, Sharpe, Sortino & Std Dev
What these numbers mean and how to use them
📖 Deep Dive
Drawdown & Rolling Returns
Why these reveal more than any CAGR figure
⚠️ RightAdvise.com is NOT registered with SEBI. All content is for educational purposes only. Mutual Fund investments are subject to market risks. Please read all scheme-related documents carefully and consult a SEBI-registered advisor before investing.
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⚠️ RightAdvise.com is NOT registered with SEBI. All content is for educational purposes only. Mutual Fund investments are subject to market risks. Please read all scheme-related documents carefully and consult a SEBI-registered advisor before investing.