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Mid Cap Fund SEBI Risk: Very High AMC: Kotak Mutual Fund

Kotak Emerging Equity Fund - Direct Plan - Growth

Benchmark: NIFTY Midcap 150 TRI • Manager: Pankaj Tibrewal • Portfolio Date: 2026-09-30
Composite Health Score
Coverage Pending
29.4% / 70.0% Verified
Look-Through Forensic Audit pending underlying constituent coverage. Full holdings breakdown available below.
Under SEBI RA 2014 Sec. 2(u) non-advisory standards, we strictly require verified 7-pillar institutional research on ≥70% of equity holdings (currently 29.4%) before issuing quantitative composite scores or qualitative AI audit narratives.
View Holdings Breakdown ↓
⚠️ Fiduciary Surveillance Alerts Triggered (2)
  • Look-Through Forensic Audit pending underlying constituent coverage (29.4% verified vs 70.0% threshold). Composite Health Score & qualitative narrative paused.
  • AUM Capacity Warning: Mid-Cap AUM of ₹45,800 Cr exceeds ₹40,000 Cr, risking large-cap mandate dilution.
🔒 Deep Dive

Look-Through Forensics & Audit Narrative

The free report already shows fees, active share, holdings and the headline health score. The Deep Dive opens up what sits underneath the portfolio.

  • Weighted moat score and the top compounder holdings
  • Look-through accounting risk (ASRI) and promoter pledge exposure, with the flagged holdings named
  • Weighted margin of safety: is the portfolio at a DCF discount or premium
  • The written 7-pillar audit narrative, and the Forensic Desk can answer questions on all of it
One-time, permanent for this scheme

01: Dual-Sleeve Constituent Decomposition

Equity holdings evaluated via Forensic Equity Engine; Debt/bonds evaluated via Credit & Solvency Engine.
Equity: 28.6% (Score: Pending) Debt: 0.0% (Score: 0.0) Cash / TREPS: 18.3%
Identifier Security Name Type Weight Sector / Rating Engine Score Diagnostic Notes
TREPS Cash Reserve CASH_EQUIVALENT 18.3% CASH 100.0 Liquid Cash / Sovereign Collateral
SUPRAJIT ↗ Suprajit Engineering Ltd EQUITY 4.5% Auto Ancillary 82.0 Verified 7-Pillar Equity Dossier Available
BHARATFORG ↗ Bharat Forge Ltd EQUITY 4.2% Auto Ancillary 76.0 Solid Core Holding (Pending 7-Pillar Audit)
ASTRAL ↗ Astral Ltd EQUITY 3.9% Building Products 82.0 Verified 7-Pillar Equity Dossier Available
MAXHEALTH ↗ Max Healthcare Institute EQUITY 3.8% Healthcare Services 78.0 Solid Core Holding (Pending 7-Pillar Audit)
COFORGE ↗ Coforge Ltd EQUITY 3.5% IT Services 77.0 Solid Core Holding (Pending 7-Pillar Audit)
FEDERALBNK ↗ Federal Bank Ltd EQUITY 3.2% Banks 73.0 Solid Core Holding (Pending 7-Pillar Audit)
BALKRISIND ↗ Balkrishna Industries EQUITY 2.8% Automobiles N/A Coverage Pending (Run 7-Pillar Audit)
APOLLOTYRE ↗ Apollo Tyres Ltd EQUITY 2.7% Auto Ancillary N/A Coverage Pending (Run 7-Pillar Audit)

02: True Diversification & Active Share

Exposing Closet Indexing: Active Share AS = 0.5 × ∑|w_fund - w_bench|
Active Share Score
73.5%
TRUE_ACTIVE_ALPHA

High Active Share: Portfolio significantly deviates from the passive benchmark, justified active fee.

Top 10 Holdings Concentration: 46.9%

03 & 04: Risk-Adjusted Alpha & Downside Capture

Evaluating asymmetrical compounding: Downside Capture Ratio vs Upside Capture Ratio.
Sortino Ratio
2.02
Downside Risk Only
Downside Capture
65.0%
Benchmark: ≤ 75%
Capture Spread
+40.0%
UCR (105.0%) - DCR
Hurst Exponent (H)
0.66
Persistent Momentum
3-Year Rolling Return Consistency: 83.5% of windows

05: Intermediary Fee Drag & Wealth Destruction

Direct Plan vs Regular Plan: Compounded wealth transfer to distributor commissions over time.
Annual Distributor Commission Drag
84.0 bps / yr (1.58% - 0.74%)
Time Horizon Direct Plan Value (Net) Regular Plan Value (Net) Cumulative Wealth Lost Percentage Corpus Destroyed
5 Years ₹1,704,886 ₹1,641,492 -₹63,394 3.7%
10 Years ₹2,906,635 ₹2,694,495 -₹212,140 7.3%
15 Years ₹4,955,481 ₹4,422,992 -₹532,489 10.7%
20 Years ₹8,448,529 ₹7,260,305 -₹1,188,224 14.1%

💡 Fiduciary Takeaway: A ₹10.0 Lakh investment loses ₹212,140 over 10 years purely to distributor commissions in the Regular plan.

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