Kotak Mahindra Mutual Fund is the mutual fund offering arm of Kotak Mahindra Bank Limited managed by Kotak Mahindra Asset Management Company Limited (KMAMC). Kotak Mutual Fund is the wholly owned subsidiary of Kotak Mahindra Bank Limited and is one of the largest mutual fund houses in India. It was registered under the Securities and Exchange Board of India (SEBI) in June 1998 and offers multiple mutual fund schemes across various categories. In this article, we take a look at the Kotak Mahindra Mutual Fund for NRIs review, a comprehensive list of Kotak Mahindra mutual fund schemes, NAV, performance, and more.
Overview of Kotak Mahindra Mutual Fund for NRIs
Kotak Mahindra Asset Management Company Limited (KMAMC) is the asset manager of the Kotak Mahindra Mutual Fund. It has an active investor base of over 8.1 million investors and has Assets Under Management (AUM) of Rs 2,85,987 crores approx (As of Feb 28, 2023). They have over 114 different mutual fund schemes across equity, debt, hybrid and commodity categories.
Also read: Best Mutual Funds for NRI in India 2023
Can NRIs invest in Kotak Mahindra Mutual Funds?
Yes, NRIs can easily invest in Kotak Mahindra mutual funds after getting their Mutual Fund KYC done and linked to their NRO/NRE Bank accounts. They can invest in various mutual fund schemes and generate good returns in the long term. This helps NRIs to build a fund that can match their investment goals and secure their future for any long-term financial needs.
The FEMA Act, RBI rules, and SEBI guidelines govern the rules and regulations regarding NRI investments in mutual funds which is why it has a slightly different procedure than that of resident individuals. Keeping in check with the FEMA Act, the funds on offer for NRIs from the US & Canada to NRIs from other countries may vary at times.
Also read: Best SIP to Invest in 2023 – Top 10 SIP Mutual Fund Plans for NRIs
How can NRIs invest in Kotak Mahindra Asset Management Company Limited (KMAMC)?
NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:
- Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
- PAN Number
- Overseas address proof: Any – Water/electricity bills, postpaid mobile/internet bills, rent agreements, driving licenses, etc.
- Passport – front and back
- Passport size photograph
- Signature
- Onboarding: After KYC, you need to share the following details to complete the onboarding process and start investing in Kotak Mahindra Asset Management Company Limited (KMAMC)
- Onboarding: After KYC, you need to share the following details to complete the onboarding process and start investing:
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the last 3 months
- Nominee details
Also read: Quant Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
Top 10 Performing Kotak Mahindra Equity Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| Kotak Small Cap Growth for NRI | 12,440 Cr | 1.7% | 192.04 | 17.29% | 33.36% |
| Kotak Infrastructure & Economic Reform Fund – Standard Plan-Growth for NRI | 1,137 Cr | 2.2% | 44.96 | 23.67% | 37.68% |
| Kotak Emerging Equity Scheme Growth for NRI | 33,918 Cr | 1.5% | 89.67 | 18.28% | 28.92% |
| Kotak Equity Opportunities Fund Growth for NRI | 15,501 Cr | 1.7% | 237.78 | 14.85% | 22.56% |
| Kotak India EQ Contra Fund Growth for NRI | 1,861 Cr | 2.1% | 100.56 | 16.44% | 22.80% |
| Kotak Bluechip Growth for NRI | 6,512 Cr | 1.8% | 561.45 | 9.34% | 18.55% |
| Kotak Flexicap Fund Growth for NRI | 40,685 Cr | 1.5% | 59.81 | 10.31% | 18.29% |
| Kotak Pioneer Fund Growth for NRI | 1,848 Cr | 1.9% | 20.40 | 16.71% | 20.95% |
| Kotak Multicap Fund Growth for NRI | 6,316 Cr | 1.8% | 12.70 | 19.82% | |
| Kotak Manufacture in India Fund Growth for NRI | 1,362 Cr | 2.1% | 12.86 | 14.94% |
Also read: Best Equity Mutual Funds for NRIs to Invest in 2023
Top 5 Performing Kotak Mahindra Debt Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| Kotak Gilt Investment Fund Growth for NRI | 2,889 Cr | 1.5% | 84.25 | 6.07%` | 3.73% |
| Kotak Banking and PSU Debt Growth for NRI | 6,043 Cr | 0.8% | 57.11 | 6.43% | 4.64% |
| Kotak Medium Term Growth for NRI | 1,889 Cr | 1.6% | 19.56 | 5.38% | 4.55% |
| Kotak Low Duration Fund- Standard Plan-Growth Option for NRI | 11,503 Cr | 1.2% | 2965.47 | 6.68% | 4.58% |
| Kotak Bond Short Term Plan Growth for NRI | 13,634 Cr | 1.2% | 45.70 | 6.19% | 4.10% |
Also read: Best Debt Mutual Funds in India 2023 for Residents and NRIs
Top 5 Performing Kotak Mahindra Hybrid Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| Kotak Multi Asset Allocator Fund of Fund – Dynamic Growth for NRI | 1,126 Cr | 0.95% | 169.03 | 17.46% | 19.68% |
| Kotak Equity Hybrid Growth for NRI | 4,267 Cr | 1.8% | 45.57 | 10.71% | 19.22% |
| Kotak Balanced Advantage Fund Growth for NRI | 14,953 Cr | 1.7% | 16.20 | 9.44% | 10.80% |
| Kotak Debt Hybrid Growth for NRI | 2000 Cr | 1.8% | 47.82 | 8.14% | 10.32% |
| Kotak Equity Savings Fund Growth for NRI | 3,154 Cr | 2.0% | 21.19 | 9.75% | 10.98% |
Top Performing Kotak Mahindra Tax Savings Mutual Funds for NRIs
| Fund Name | Fund Size (In Crores) | Expense Ratio | Current NAV (INR) | 1 YR | 3 YR |
| Kotak Tax Saver-Scheme- Growth for NRI | 4,199 Cr | 1.8% | 84.95 | 12.93% | 22.56% |
Also read: List of Top Performing Liquid Funds for NRIs in 2023
Key Information
| Mutual Fund | Kotak Mahindra Mutual Fund |
| Date of incorporation | Aug 05, 1994 |
| Trustee(s) | Kotak Mahindra Trustee Company Ltd |
| Sponsor | Kotak Mahindra Bank Limited |
| CEO & MD | Nilesh Shah |
| Compliance Officer | Sushma Mata |
| Average Assets Under Management (AAUM) | Rs 2,85,987 Crores (As of Feb 2023) |
Customer Care Details
For any query regarding any schemes offered by Kotak Mahindra Mutual Fund, you can contact the following address:
- Registered Address: The Capital Building, , Behind ICICI Bank, G Block BKC, Bandra Kurla Complex, Bandra (E), Mumbai – 400051. Branch Timing (9 am – 6 pm)
- Phone no: 022-61152100 / 1800-22-2626
- Email: [email protected]
Also read: HDFC Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
How to Invest in Kotak Mahindra Mutual Funds as NRI?
NRIs can now download the SBNRI App and choose to invest in different Kotak Mahindra mutual funds for NRIs schemes from Kotak Mahindra Asset Management Company Limited (KMAMC) in India with ease. You can also get detailed investment advice from experts at SBNRI. Also, visit our blog and YouTube channel for more details.
SBNRI is an authorized Mutual Fund Distributor platform & registered with the Association of Mutual Funds in India (AMFI). ARN No. 246671. NRIs willing to invest in mutual funds in India can download the SBNRI App to choose from 2,000+ mutual fund schemes or can connect with the SBNRI wealth team to better understand Mutual Fund investments.
FAQs
Can NRIs invest in Kotak Mahindra Mutual Funds?
- Yes, NRIs can invest in Kotak Mahindra Mutual Funds on a full repatriation and non-repatriation basis as long as they adhere to the Foreign Exchange Management Act (FEMA) guidelines. NRIs need to complete the KYC to invest in mutual funds in India.
How can NRI buy Mutual Funds from Kotak Mahindra Asset Management Company Limited (KMAMC)?
- Step 1: Set up an NRI Account: As per FEMA guidelines, after attaining the NRI status, you can’t park your money in a regular resident savings account in India and need to open an NRE or NRO account. Once the account is activated, you can start investing.
- Step 2: Get Your KYC Done: You need to complete the KYC process before starting investment in Kotak Mahindra mutual funds for NRIs in India.
Are Kotak Mahindra Mutual Fund’s schemes safe to invest in?
- Mutual funds are subject to market conditions and all market-linked investments come with a degree of risk. However, you can choose from low-risk to high-risk mutual funds to invest in as per your risk appetite and investing goals.
Which Kotak Mahindra Mutual Fund scheme is best for the short term?
- Generally, a short-term investment is ideal for up to 3 years. If you are planning short-term investment, consider Kotak Mahindra Mutual fund debt funds for NRIs. If your investment is up to three months, Kotak Mahindra Mutual Fund liquid funds for NRIs are ideal for you.
What is the taxation on Kotak Mahindra Debt Mutual Funds?
- The debt mutual fund tax has been changed with effect from April 1, 2023, after the Budget 2023 brought certain amendments. Debt mutual funds will no longer be allowed to avail of indexation benefits from FY 23-24. Any gains made on debt mutual funds investment will now attract taxation on applicable slab rates of the investor’s income bracket.
What are Debt funds vs. Equity Funds?
- Debt funds are mutual funds that invest money into fixed-income securities, corporate bonds, treasury bills, commercial papers, and more. On the other hand equity funds invest the money into stocks/shares of the company.
Are Kotak Mahindra debt mutual funds safer than Kotak Mahindra equity mutual funds?
- Debt funds invest in fixed-income securities, corporate bonds, treasury bills, commercial papers, and more while equity funds invest in stocks/shares of the company. This makes debt funds a relatively safer option as an investment than equity funds.
Are Kotak Mahindra equity mutual funds safer for NRIs?
- Equity mutual funds have high volatility and can be risky for investors. However, overseeing the returns generated by equity mutual funds for the past 15 years, these funds can be a great investment vehicle and offer great wealth-generation opportunities for NRIs.
Is Kotak Mahindra equity mutual funds safer than FD?
- Fixed deposits have a risk-free fixed income and are safer than equity mutual funds. However, as per the returns and growth opportunity, equity mutual funds look to be a better investment option for investors, residents, and NRIs alike.
What is Kotak Mahindra liquid fund taxation for NRI?
- NRIs are liable to pay taxes on the capital gain earned from Liquid funds. The short-term capital gains for sell of liquid funds for a period under 3 years of holding are taxed at investor’s slab rates. After the Budget 2023 amendments, long-term capital gains won’t enjoy any indexation benefit and will be charged as per the investor’s slab rates removing the LTCG benefits altogether.
Can I invest from USA in the Kotak Mahindra Mutual Fund?
- Yes an NRI can invest from the USA in India in various mutual fund schemes offered by Kotak Mahindra Mutual Funds for NRIs provided it complies with the FEMA Act, RBI guidelines, and SEBI guidelines.
Can NRI invest in SIP in Kotak Mahindra Mutual Fund in India?
- Yes, an NRI can invest in India through the SIP route in Kotak Mahindra Mutual Fund for NRI schemes. SIP stands for Systematic Investment Plan.
