You are an investor in the Kotak Mutual Fund, and there are you may have any queries regarding your portfolio. This article aims to assist you with resolving your question.
About Company
Kotak Mahindra Asset Management Company Limited (KMAMC) is a public limited company that was established on August 2, 1994, in accordance with the Companies Act, 1956. As a wholly owned subsidiary of Kotak Mahindra Bank Limited, the business manages the assets of the Kotak Mahindra Mutual Fund (KMMF).
The asset under management by Kotak AMC as of Dec. 31, 2022, is 286,599 crore.
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Kotak Mutual Fund Scheme performance
List of Kotak Mutual Fund best Equity Scheme:
Kotak Bluechip Fund
Key Feature: Favours industry leaders in cost, innovation, brand, competence, etc. with a proven execution track record across cycles
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High conviction and long term calls taken
AUM – 5,427.09 Cr (30 Nov 2022)
Kotak Mutual Fund Service
1. Redemption
You can redeem Kotak Mutual Fund units online or through an offline method. The redemption process can be completed anytime during the day using an easy method.
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If you’re already registered, log in to the Kotak MF website.
- After logging in,
- Click Transact Now,
- then select Redemption option
- Select your folio number first
- then select scheme
- Select Value section
- click one option All unit or Specify amount
- Confirm Transaction
After completing transaction received email & sms for transaction confirmation.
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Kotak Mutual Fund Redemption Process
Timeline for payment of Redemption / Maturity Process
- Within 3 working days from the date of redemption or repurchase
- Within 5 working days from the date of redemption/repurchase or Next business day from the date of receipt of the proceeds from underlying funds whichever is later –
- Kotak Global Innovation Fund of Fund
- Kotak Global Emerging Market Fund
- Kotak NASDAQ 100 Fund of Fund
- Within 7 working days from the date of redemption/repurchase or Next business day from the date of receipt of the proceeds from underlying funds whichever is later.
- – Kotak International REIT FOF
2. SIP Cancellation – Physical & Online
The option to cancel or stop SIP in various ways. Investors should be aware that SIP is a non-committal investment. No charges or fines can be assessed if an investor chooses to end the plan during the middle.
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There are a variety of methods to end SIP on the internet.
For more details on Kotak SIP cancellation PDF download or online process, check this article
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3. Folio Statement
Account Statement – Get a copy of your investment portfolio in detail. To download your Account Statement, all you have to do is choose a folio and validate it with an OTP.
Capital Gain Statement – Get a capital gain statement immediately. Simply choose a folio, validate with an OTP, and then download your statement.
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4. Nomination
Mutual Fund nomination refers to the appointment of a person to take responsibility for your investments in the fund following your passing away.
The nominee’s nomination will ensure that, after your death, your mutual fund holdings will be transferred to the nominee.
The Nomination Form can be used by an investor to register a nominee, modify an existing nomination under his folio, or cancel an existing nomination.
The preliminary information you must fill in on the form of nomination are:
- Name of the nominee
- Date of birth of the nominee (If minor)
- Nominee’s relationship with the investor
- Address of the nominee
- Percentage share of each nominee (if there is more than 1 nominee), etc.
You can add up to 3 nominees in Kotak Mutual Fund folio and specify the percentage share that each nominee will receive in the event of your death.
If you don’t specify the percentage of your share, the Mutual Fund units will be equally distributed to all nominees named on the nomination form.
5. Change of Address in Folio
Investors must first update their KYC records with any address changes. Once the KYC has been corrected, he can submit a request to Kotak Mutual Fund to have his address amended.
6. Mobile & Email Update in Folio
It is possible to change your mobile number & Email ID on K
Kotak Mutual Fund online and also offline.
Login to your folio account online & “My Profile” section. User is given the option of changing the mobile no & email id.
Note: User will receive OTPs for both their email & mobile. Without OTP you can’t update.
7. Change of Bank
Updating bank accounts in an investor's portfolio should be done via a Multiple Bank Account Registration Form or a separate Change of Bank Mandate form.
The investor must provide originals of any of the following documents:
- Cancelled original cheque of the new bank mandate with first unit holder name and bank account number printed on the face of the cheque; or
- For Change in Bank Mandate New bank and old bank cheque leaf to be provided in original. If photocopy of New & Old bank cheque leaf are submitted, OSV to be done by AMC or CAMS. Investor name should be pre-printed on the cheque leaf
- Old Bank Proof– Self attested bank statement/ Self attested banker letter confirming name, PAN, address / Self attested bank passbook/ Self attested cheque leaf/ Self attested closure letter
- New Bank Proof– original cheque leaf or photocopy of cheque leaf/ Bank statement /Bank passbook first page/ Banker letter confirming name, PAN, address attested by investor& email from registered email of the investor providing and confirming the COB details and documents.
Change of Bank online:
Retail investors who have investments in their folio with a net value of less than Rs. 1.5 lakh.
If your email or mobile number is already registered in the applicable Folio, you can use this service.
This facility is not available, If the investor wants to provide other document proofs for COBM, such as a bank statement or passbook.
8. Transmission
Transfer of Units is a method by which units owned by the unitholder who died are handed over to the nominee or the legal descendants or legal heirs of the unitholder who died, as the situation requires.
- Transmission Request Form for Transmission of Units in favour of the Nominee(s).
- Death Certificate of the deceased unitholder(s) in original OR photocopy duly attested by a Notary Public or a Gazetted Officer.
- Copy of Birth Certificate, in case the Nominee is a minor.
- Copy of PAN Card of the Nominee(s) / Guardian (in case the Nominee is a minor)
- KYC Acknowledgment OR KYC Form of the Nominee(s) / Guardian (where Nominee is a Minor)
- The Cancelled cheque with the Nominee’s name pre-printed OR Copy of the Nominee’s recent Bank Statement/Passbook (which cannot be more than 3 months old).
- In case of change of name of an Investor due to marriage, the Investor would have to furnish the details along with the certified copy Marriage Certificate.
- Self-Attested copy of PAN Card bearing the new name
- If there are any changes in the signature, “Signature Updation Form” should be separately submitted. 7. KYC & FATCA Acknowledgement of the investor bearing the new name
9. Change of Guardian
The following documents must be presented in required to register a new guardian in the event that the previous guardian passes away or changes by mutual agreement.
The new guardian must either be the child's natural guardian—that is, the child's father or mother—or a legal guardian appointed by a court.
Request Letter from the New Guardian,
2. In case the existing guardian is alive, No Objection Letter (NoC) or Consent Letter from existing guardian or Court Order is required
3. Notarized copy or attested copy of the Death Certificate of the deceased guardian, where applicable
4. Bank attestation attesting the signature of the new guardian in a bank account of the minor where the new guardian is registered as the guardian
5. Cancelled Cheque Leaf of new Bank account/ Attested copy of Cancelled Cheque Leaf of new Bank account
6. In case of natural guardian, any suitable proof evidencing the relationship status of the guardian with minor
7. In case of court appointed legal guardian, supporting documentary evidence shall be submitted
8. KYC & FATCA acknowledgement of New Guardian
9. Change in Status from Minor to Major (MAM)
1. The prescribed MAM form duly filled in all respects. Note: Signature of the applicant (minor who has turned major) in the MAM form shall be duly attested in the space provided therein by the parent/guardian whose signature is registered in the records of the mutual fund against the folio of the minor unitholder or by a Notary or a Judicial Magistrate First Class(JMFC). Alternatively, the applicant’s signature may be attested by the unitholder’s bankers in the prescribed form as per format given in Annexure 1.
2. Copy of PAN Card of the applicant
3. KYC Acknowledgment or a duly competed KYC form.
4. A cancelled cheque leaf with the applicant’s name pre-printed or the applicant’s latest Bank Statement/Passbook.
5. Signature attestation by the bankers in Annexure 1 (if the signature of the applicant is not attested by the guardian or a Notary or a JMFC in the MAM form)
6. Nomination Form
7. FATCA
On the day the minor reaches the age of majority, the guardian must freeze the account and prevent any transactions from being made until the documentation necessary to change the status have been received.
10. Pledge of Units / Lien on Units (Loan Against Fund unit)
Lien marking
The units under the relevant scheme(s) may be pledged or charged in the name of scheduled banks, financial institutions, non-banking financing companies (NBFCs), or any other organisation as security. Such Pledged Units will be noted and recorded by the AMC and/or the ISC.
For this reason, the following documents must be presented by the unit holder:
1. Request Letter from Investor
2. Board Resolution + Authorized Signatory List of Investor (in case the investor is non-individual)
3. Request Letter from Financier
4. Board Resolution + Authorized Signatory List of Financier
Only after receiving the above mentioned documentation will the AMC record a lien.
Units that have been pledged cannot be redeemed unless the entity to which they were pledged gives written consent to the Mutual Fund so that the pledge/lien charge may be eliminated. The pledgee will have full authority to redeem any pledged units as long as they remain pledged.
Lien release
For the un-pledge of units or the release of liens on units, the financier must provide a Lien Release Letter, ideally in a standard format.
Lien Invocation
A lien invocation letter, ideally in standard style, must be submitted if a financier wishes to invoke the lien with regard to the units pledged in their favor. On any business day, the financer must submit the same before the cutoff to receive the same-day NAV.
11. Consolidation of Folios
The option to combine investments from multiple folios into a single folio is available to unit holders of any of the fund's schemes, provided the mandated information is the same in each folio.
The request for consolidation of folios must be signed and submitted at any of the Official Acceptance Points CAMS or Kotak AMC Office.
For consolidation of folios, the following details in all the folios should match:
12. Change of name of investor
If an investor changes his name, he must submit the following documents, in the case of an individual investor:
- Letter or form requesting the change of name in AMC/RTA records.
- A certified copy of the name change notice published in the gazette
- In the event of an NRI or OCB, a certified copy of a passport or other document from the applicable jurisdiction attesting to the name change
13. Kotak Fund Minimum Application Amount
Normally Minimum Investment in scheme is Rs. 5000. But below scheme investment amount reduce for Investment.
| Name of Scheme | Category | Min Application Amount |
|---|---|---|
| Kotak Liquid Fund | Liquid Scheme | Rs. 100 |
| Kotak Emerging Equity Fund | Mid Cap | Rs. 100 |
| Kotak Small Cap Fund | Small Cap | Rs. 500 |
| Kotak Equity Opportunities Fund | Large & Mid Cap | Rs. 500 |
Kotak Mutual Fund Scheme ISIN List
Kotak Mutual Fund Scheme Exit Load Chart
| Scheme Name | Exit Load for Regular Option |
|---|---|
| Kotak India EQ Contra Fund | For redemption/switch out within 90 days – 1.00% |
| Kotak Infrastructure & Economic Reform Fund | For redemption/switch out within 90 days – 1.00% |
