Kotak Special Opportunities Fund

ThematicDirect and Regular plans, Growth and IDCW options

Data as on 30-10-2026

Kotak Special Opportunities Fund is a Thematic fund run by Kotak Mahindra Mutual Fund. On 30-09-2026, it managed ₹1,920 Cr of investors' money. In the year to 30-10-2026, its Direct plan returned 6.1% and its Regular plan returned 4.7%. Its benchmark, Nifty 500 TRI, returned −7.3% over the same year.

NAV (Direct plan): ₹10.77; ▼ 2.19%30-10-2026
NAV (Regular plan): ₹10.43; ▼ 2.19%30-10-2026
Expense ratio: 1.04%Direct2.31%Regular; 1.04%; A year
Riskometer: Very High; Set by the fund house
1 year return: 6.1%Direct4.7%Regular; 6.1%; Total

Kotak Special Opportunities Fund NAV Today

NAV on 30-10-2026: Direct Plan Growth ₹10.77 (down 2.19% that day); Regular Plan Growth ₹10.43 (down 2.19% that day).

This fund (Direct plan)

₹10.769

Kotak Special Opportunities Fund Returns vs Nifty 500 TRI

Returns as on 30-10-2026. Up to one year they are absolute returns. Longer periods are a rate per year.

Trailing returns
Period	1M	3M	6M	1Y	3Y	5Y	10Y
This fund (Direct)	−7.39%	−3.46%	+4.82%	+6.08%	--	--	--
This fund (Regular)	−7.49%	−3.77%	+4.13%	+4.68%	--	--	--
Nifty 500 TRI	−0.75%	−6.05%	−2.83%	−7.34%	+10.22%	+8.81%	+12.51%
Thematic average	−2.09%	−4.52%	+0.86%	−1.22%	--	--	--
Best in Thematic	+11.54%	+11.27%	+22.16%	+75.71%	--	--	--
Worst in Thematic	−16.05%	−11.74%	−13.97%	−22.44%	--	--	--
Rank in Thematic	233/235	74/232	62/232	44/215	--	--	--

Category rows compare the Direct plans of 235 Thematic funds. Rank 1 is the highest return.

Kotak Special Opportunities Fund Year-wise Returns

Return of each calendar year
Year	Direct	Regular	Nifty 500 TRI
2026to date	+4.98%	+3.83%	−7.51%
2025	+2.35%	+0.94%	+7.76%

Kotak Special Opportunities Fund Rolling Returns

The return of every holding period in the fund's history, not only the one that ends today

Rolling returns

Each point is the yearly return of one 1-year holding period, plotted on the day it ended. There are 324 periods, one for each trading day from 07-07-2025 to 30-10-2026.

−10%0%10%20%30%

Aug 2024
to
Aug 2025Nov 2024
to
Nov 2025Jan 2025
to
Jan 2026Apr 2025
to
Apr 2026Jul 2025
to
Jul 2026Sept 2025
to
Sept 2026

Kotak Special Opportunities Fund (Direct)Nifty 500 TRI

Every holding period at a glance

Period	Periods	Median	Lowest	Highest	With a loss	Benchmark median	Beat benchmark
1 year	324	6.7%	−9.3%	23.9%	28%	2.2%	49%
2 years	80	5.6%	2.6%	8.9%	0%	0.5%	100%

Lumpsum: the yearly rate (CAGR) from the NAV on a period's first day to the NAV on its last. SIP: the XIRR of the monthly instalments and their value on the last day. "With a loss" counts the periods that ended below the money put in. "Beat benchmark" counts the periods in which the fund did better than Nifty 500 TRI over the same days. Past returns do not promise future returns.

Kotak Special Opportunities Fund Risk

How much it swings, and the falls an investor had to sit through

Risk and return

Measure	Kotak Special Opportunities Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	+6.08%	−7.34%
Standard deviation	18.55%	14.48%
Sharpe ratio	0.04	-0.87
Sortino ratio	0.06	-1.16
Maximum drawdown	−15.8% (23-03-2026)	−14.7% (30-03-2026)
Beta	1.12	1.00
Alpha	+14.99%	0.00%

From daily NAVs, 30-10-2025 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Measure	Kotak Special Opportunities Fund (Direct)This fund	Nifty 500 TRI
Return (CAGR)	+3.15%	−1.14%
Standard deviation	16.55%	14.02%
Sharpe ratio	-0.16	-0.49
Sortino ratio	-0.21	-0.66
Maximum drawdown	−23.1% (03-03-2025)	−18.6% (28-02-2025)
Beta	1.05	1.00
Alpha	+4.61%	0.00%

From daily NAVs, 05-07-2024 to 30-10-2026. Standard deviation: how much the daily value swings, scaled to a year. Sharpe: return above the risk-free rate (NSE's overnight rate index) per unit of swing. Sortino: the same, counting only the falls. Beta: 1 moves with the benchmark, below 1 moves less. Alpha: return beyond what its beta explains, a year.

Drawdowns

How far below its previous high each one was on every day: the falls an investor had to sit through. 0% means it was at a new high.

−25%−20%−15%−10%−5%0%

20252026

Kotak Special Opportunities Fund (Direct)Nifty 500 TRI

	Worst fall	High before it	Bottom	Back at the high	Time to climb back	Below its high today
Kotak Special Opportunities Fund (Direct)	−23.1%	24-09-2024	03-03-2025	15-06-2026	15 months	−10.6%
Nifty 500 TRI	−18.6%	26-09-2024	28-02-2025	Not yet	--	−8.8%

From the Direct plan's daily NAV since 05-07-2024, adjusted for unit splits, and Nifty 500 TRI over the same days. "Time to climb back" runs from the bottom to the first day back at the old high.

Kotak Special Opportunities Fund vs Other Thematic Funds

The five Thematic funds with the best three year return, and this fund. Direct plans.

Fund name	Rank	AUM (Cr)	Exp. ratio	1Y return	3Y return	3Y alpha	3Y beta	3Y Sharpe	3Y Sortino
Nippon India Taiwan Equity Fund	1/133	1,147	1.08%	+75.71%	+54.78%	--	--	1.38	2.03	Compare
HDFC Defence Fund	2/133	11,493	0.90%	+13.79%	+34.76%	−0.18%	0.83	1.12	1.54	Compare
HDFC Pharma and Healthcare Fund	3/133	3,501	1.05%	+23.12%	+30.53%	+8.23%	0.96	1.74	2.49	Compare
SBI Healthcare Opportunities Fund	4/133	5,870	1.01%	+17.12%	+24.60%	+3.61%	0.88	1.42	2.03	Compare
Aditya Birla Sun Life International Equity Fund	5/133	352	2.00%	+13.97%	+24.46%	--	--	1.49	2.16	Compare
Kotak Special Opportunities Fund	44/215	1,920	1.04%	+6.08%	--	--	--	--	--

AUM is each fund's size at the end of its last reported month, from its own portfolio file. We calculate the risk ratios from daily NAVs over the last three years. The risk-free return is what NSE's overnight rate index earned over the same years. Alpha and beta compare each fund with its own benchmark's TRI. "--" means we have no figure: for alpha and beta, no daily series for that benchmark.

Kotak Special Opportunities Fund Expense Ratio and Costs

What each plan charges a year, in force from 08-10-2026

Plan	Base expense ratio	Brokerage	Transaction costs	Levies and GST	Total expense ratio	Thematic median	Cost rank (1 = cheapest)
Direct	0.70%	0.05%	0.00%	0.28%	1.04%	1.18%	71/235
Regular	1.77%	0.05%	0.00%	0.48%	2.31%	2.41%	94/235

The expense ratio comes out of the fund's assets every day, so every return on this page is already after it. Base expense ratio: the fund house's own fee. The total adds brokerage, the cost of executing trades, and statutory levies with GST. From AMFI's expense ratio file. Cost rank: where this plan comes when the Thematic funds' plans of the same type are sorted from the lowest total expense ratio to the highest.

Direct vs Regular: what the gap cost

Both plans own the same portfolio, so the difference in what they earned is the Regular plan's extra cost, taken out of its NAV.

Over the last	Regular	Direct	Direct earned more by	₹1 lakh became (Regular)	₹1 lakh became (Direct)
1 year	4.68%	6.08%	1.40%	₹1,04,680	₹1,06,080

Returns over more than 1 year are a rate a year (CAGR). ₹1 lakh invested once at the start of each period, valued on the last NAV.

Kotak Special Opportunities Fund SIP Calculator

What a one-time or monthly investment in this fund would be worth today, from its own NAV history

Growth of an investment

Every month₹

Step up each year

PeriodFor

₹10,000 on the first trading day of every month, from 05-07-2024 to 30-10-2026: 28 instalments, ₹2,80,000 in all.

Investment	Invested	Value now	Gain	Return a year
Direct planKotak Special Opportunities Fund (Direct)	₹2,80,000	₹3,03,413	₹23,413	6.8%
Regular planKotak Special Opportunities Fund (Regular)	₹2,80,000	₹2,98,476	₹18,476	5.4%
Nifty 500 TRI	₹2,80,000	₹2,73,052	−₹6,948	−2.1%
Category averageCategory average, 235 Thematic funds	₹2,80,000	₹2,88,103	₹8,103	2.4%

₹0₹1.0 L₹2.0 L₹3.0 L₹4.0 L

20252026

Direct planKotak Special Opportunities Fund (Direct)Regular planKotak Special Opportunities Fund (Regular)Nifty 500 TRICategory averageCategory average, 235 Thematic fundsAmount invested

From each plan's published NAV (Growth option), the benchmark's TRI and the category average, over the same days. Return a year: XIRR for a SIP, CAGR for a lumpsum, shown for a year or more. It does not include exit load, stamp duty or tax. Past returns do not promise future returns.

Kotak Special Opportunities Fund Asset Allocation

Asset allocation as on 30-09-2026

What the fund holds

97.2%Equity

Asset	Fund	Category
Equity	97.2%	94.5%
Cash and others	2.8%	4.0%

Market cap of stocks

Market cap	Fund	Category
Large Cap	12.6%	45.7%
Mid Cap	20.7%	19.6%
Small Cap	55.8%	24.1%
Not on AMFI's list	8.2%	2.3%

Share of the whole fund. Category: the average of the Thematic funds that hold stocks. Groups follow AMFI's latest list, as SEBI defines them: Large Cap is the 100 largest companies, Mid Cap the next 150, Small Cap the rest.

Kotak Special Opportunities Fund Sector Allocation

Sector allocation of the fund's stocks as on 30-09-2026

Largest sectors

Pharmaceuticals and Biotechnology10.7%
Industrial Products8.8%
Electrical Equipment7.7%
Industrial Manufacturing7.3%
Banks7.3%
Automobiles7.3%
Entertainment6.4%
Telecom - Services5.6%
Finance5.6%
Consumer Durables4.9%

The ten largest of 20 sectors. The other 10 add up to 25.7%.

Sector changes

Sector	July 2026	August 2026	September 2026	Change
Pharmaceuticals and Biotechnology	9.6%	12.1%	10.7%	+1.1%
Industrial Products	5.7%	5.4%	8.8%	+3.1%
Electrical Equipment	4.0%	5.5%	7.7%	+3.7%
Industrial Manufacturing	6.4%	7.1%	7.3%	+1.0%
Banks	11.3%	8.5%	7.3%	−4.0%

Each sector's share of the fund at the end of each month. The five largest sectors of September 2026. Change: from July 2026 to September 2026, in % of the fund.

Kotak Special Opportunities Fund Portfolio Holdings

As on 30-09-2026 · 46 holdings · from the fund house's monthly portfolio

Holdings	Sector	Weight%	1M change
Maruti Suzuki India Limited	Automobiles	3.93%	+38.5%
Sun TV Network Limited	Entertainment	3.43%	+36.5%
Hero MotoCorp Ltd.	Automobiles	3.33%	0.0%
JYOTI CNC AUTOMATION LTD	Industrial Manufacturing	3.28%	0.0%
PVR LTD.	Entertainment	2.93%	−2.7%
Carborundum Universal Ltd.	Industrial Products	2.87%	0.0%
Vodafone Idea Ltd	Telecom - Services	2.87%	+57.4%
MTAR TECHNOLOGIES LIMITED	Electrical Equipment	2.84%	+16.7%
One 97 Communications Ltd	Financial Technology (Fintech)	2.82%	+44.8%
AZAD ENGINEERING LTD	Electrical Equipment	2.78%	0.0%
Indus Towers Ltd.	Telecom - Services	2.72%	0.0%
Barbeque Nation Hospitality Ltd.	Leisure Services	2.70%	+12.3%
INDO-MIM LTD	Industrial Manufacturing	2.63%	0.0%
Marksans Pharma Ltd	Pharmaceuticals and Biotechnology	2.57%	−13.1%
ORCHID PHARMA LIMITED	Pharmaceuticals and Biotechnology	2.53%	+2.1%
POONAWALLA FINCORP LIMITED	Finance	2.52%	0.0%
NLC India Ltd. (Neyveli Lignite Corporation Ltd.)	Power	2.45%	0.0%
INDUSIND BANK LTD.	Banks	2.44%	0.0%
Engineers India Ltd	Construction	2.34%	New
PARK MEDI WORLD LIMITED (PARK HOSPITAL)	Healthcare Services	2.24%	0.0%
VIYASH SCIENTIFIC LTD	Pharmaceuticals and Biotechnology	2.17%	+39.4%
Indigo Paints Limited	Consumer Durables	2.10%	0.0%
MIDWEST LTD	Consumer Durables	2.02%	0.0%
SWIGGY LTD	Retailing	2.02%	0.0%
JANA SMALL FINANCE BANK	Banks	1.95%	0.0%
KALPATARU PROJECTS INTERNATIONAL LIMITED	Construction	1.94%	0.0%
SUN PHARMACEUTICAL INDUSTRIES LTD.	Pharmaceuticals and Biotechnology	1.94%	+46.4%
PIRAMAL FINANCE LTD	Finance	1.92%	0.0%
JAMMU KASHMIR BANK LTD	Banks	1.85%	+21.3%
Oracle Financial Services Software Ltd	IT - Software	1.80%	0.0%
QUADRANT FUTURE TEK LIMITED	Industrial Products	1.79%	New
Graphite India Limited.	Industrial Products	1.79%	0.0%
LUMINO INDUSTRIES LIMITED	Industrial Products	1.72%	+164.2%
Sapphire Foods India Ltd.	Leisure Services	1.68%	0.0%
YATHARTH HOSPITAL AND TRAUMA CARE SERVICES LTD	Healthcare Services	1.67%	0.0%
JUBILANT PHARMOVA LIMITED	Pharmaceuticals and Biotechnology	1.53%	−38.6%
MV ELECTROSYSTEMS LTD	Industrial Manufacturing	1.44%	0.0%
PRASOL CHEMICALS LIMITED	Chemicals and Petrochemicals	1.39%	New
Oberoi Realty Limited	Realty	1.38%	0.0%
AVANTI FEEDS LTD	Food Products	1.26%	0.0%
JIO FINANCIAL SERVICES LTD	Finance	1.13%	New
KANOHAR ELECTRICALS LIMITED	Electrical Equipment	1.04%	New
AVALON TECHNOLOGIES LTD.	Electrical Equipment	1.03%	New
SOUTH INDIAN BANK LTD	Banks	1.03%	0.0%
Bata India Ltd.	Consumer Durables	0.81%	0.0%
CMR GREEN TECHNOLOGIES LTD	Industrial Products	0.62%	−0.4%

Kotak Special Opportunities Fund Stocks Bought and Sold

All changes are between August 2026 and September 2026

Stocks bought and sold in September 2026

Maruti Suzuki India Limited	Added	+38.5%	3.93%
Sun TV Network Limited	Added	+36.5%	3.43%
Marksans Pharma Ltd	Reduced	−13.1%	2.57%
PVR LTD.	Reduced	−2.7%	2.93%
Barbeque Nation Hospitality Ltd.	Added	+12.3%	2.70%
Vodafone Idea Ltd	Added	+57.4%	2.87%
MTAR TECHNOLOGIES LIMITED	Added	+16.7%	2.84%
One 97 Communications Ltd	Added	+44.8%	2.82%
ORCHID PHARMA LIMITED	Added	+2.1%	2.53%
JUBILANT PHARMOVA LIMITED	Reduced	−38.6%	1.53%
Engineers India Ltd	New	New	2.34%
VIYASH SCIENTIFIC LTD	Added	+39.4%	2.17%
SUN PHARMACEUTICAL INDUSTRIES LTD.	Added	+46.4%	1.94%
JAMMU KASHMIR BANK LTD	Added	+21.3%	1.85%
QUADRANT FUTURE TEK LIMITED	New	New	1.79%
LUMINO INDUSTRIES LIMITED	Added	+164.2%	1.72%
PRASOL CHEMICALS LIMITED	New	New	1.39%
JIO FINANCIAL SERVICES LTD	New	New	1.13%
KANOHAR ELECTRICALS LIMITED	New	New	1.04%
AVALON TECHNOLOGIES LTD.	New	New	1.03%
CMR GREEN TECHNOLOGIES LTD	Reduced	−0.4%	0.62%

A change is counted by the number of shares the fund holds, not by price. A stock can become a smaller part of the fund in a month when the fund bought more of it, if its price fell. Debt papers are left out.

What Kotak Special Opportunities Fund bought and sold

Kotak Special Opportunities Fund Portfolio Overlap

Funds with the most similar portfolios, across every fund house and category

Fund	Overlap	Holdings in common
Kotak Multi Cap FundMulti Cap · Kotak Mahindra	37.9%	23	Compare
Kotak Consumption FundThematic · Kotak Mahindra	29.5%	15	Compare
Kotak Multi Asset Allocation FundMulti Asset · Kotak Mahindra	26.1%	23	Compare
Kotak Contra FundValue and Contra · Kotak Mahindra	23.4%	15	Compare
Kotak MNC FundThematic · Kotak Mahindra	22.0%	11	Compare
Kotak Manufacture In India FundThematic · Kotak Mahindra	18.9%	13	Compare
Kotak Equity Savings FundEquity Savings · Kotak Mahindra	18.8%	17	Compare
Kotak ELSS Tax Saver FundELSS · Kotak Mahindra	17.1%	12	Compare

Overlap: for each holding both funds own, the smaller of its two weights, added up. 40% means 40% of each fund's money sits in positions the other also holds. From each fund's latest monthly portfolio, matched by ISIN. Cash and hedged positions are left out. Funds that overlap under 10% are not listed. A high overlap does not make two funds the same: their costs, lock-in and category can differ.

Kotak Special Opportunities Fund Overview

Fund facts from the scheme summary document, as on 16-10-2026

Expense ratio (Direct): 1.04%
Expense ratio (Regular): 2.31%
Category: Thematic
Risk: Very High
Benchmark: Nifty 500 TRI
Launch date: 01-07-2024
Minimum investment: Rs. 100/- and any amount thereafter
Minimum additional investment: ₹100
AUM: ₹1,920.37 Cr (30-09-2026)
Lock in: None
Scheme code (Direct): 152702
ISIN (Direct): INF174KA1SF3
Scheme code (Regular): 152703
ISIN (Regular): INF174KA1SC0
NAV history: From 05-07-2024, 2.3 years

Exit load: 0.5% for redemption within 90 Days

Tax on Kotak Special Opportunities Fund returns

Kotak Special Opportunities Fund is taxed as an equity fund: 65% or more of it is in Indian stocks.
Units sold within 1 year: the gain is taxed at 20%.
Units held longer: gains above ₹1.25 lakh in a financial year, across all your equity funds and shares, are taxed at 12.5%.
IDCW (dividend) payouts are added to your income and taxed at your slab rate.
A stamp duty of 0.005% is deducted when you invest.

Rules in force from 23-07-2024 (Finance Act 2024). Tax depends on your own income; this is general information, not tax advice.

All plans and options

Plan	Option	NAV	As on
direct	Growth	₹10.769	30-10-2026
direct	IDCW	₹10.769	30-10-2026
regular	Growth	₹10.43	30-10-2026
regular	IDCW	₹10.43	30-10-2026

About Kotak Special Opportunities Fund

Kotak Special Opportunities Fund is a mutual fund from Kotak Mahindra Mutual Fund. Its category is Thematic. It was launched on 01-07-2024. Its benchmark is Nifty 500 TRI. At the end of September 2026 it held 46 securities.

Fund Manager

Devender Singhal
Fund manager of Kotak Special Opportunities Fund
Abhishek Bisen
Fund manager of Kotak Special Opportunities Fund

See all funds of Kotak Mahindra Mutual Fund

AUM change

September 2026: ₹1,920.37 Cr; +12.80% from August 2026
August 2026: ₹1,702.45 Cr; +15.14% from July 2026
July 2026: ₹1,478.53 Cr; +1.19% from June 2026

AUM moves with money invested or taken out, and with the value of what the fund holds.

Compare Kotak Special Opportunities Fund with Other Funds

Returns, risk, costs and the stocks they share, side by side

Kotak Special Opportunities vs Nippon India Taiwan EquityThematic
Kotak Special Opportunities vs HDFC DefenceThematic
Kotak Special Opportunities vs HDFC Pharma and HealthcareThematic
Kotak Special Opportunities vs SBI Healthcare OpportunitiesThematic
Kotak Special Opportunities vs Aditya Birla Sun Life International EquityThematic
Kotak Special Opportunities vs Kotak Multi Cap37.9% overlap
Kotak Special Opportunities vs Kotak Consumption29.5% overlap
Kotak Special Opportunities vs Kotak Multi Asset Allocation26.1% overlap

Compare with any other fund

Frequently Asked Questions for Kotak Special Opportunities Fund

What is the current NAV of Kotak Special Opportunities Fund?

The Direct plan NAV is ₹10.769. The Regular plan NAV is ₹10.43, as on 30-10-2026.

What are the returns of Kotak Special Opportunities Fund?

The Direct plan returned +6.08% in 1 year. The Regular plan returned +4.68% in 1 year. These figures are as on 30-10-2026.

What is the expense ratio of Kotak Special Opportunities Fund?

The Direct plan charges 1.04% a year. The Regular plan charges 2.31% a year. This is the figure the fund house reported to AMFI, in force from 08-10-2026.

What is the AUM of Kotak Special Opportunities Fund?

Kotak Special Opportunities Fund managed ₹1,920.37 Cr on 30-09-2026, as its fund house reported in its monthly portfolio.

What are the top holdings of Kotak Special Opportunities Fund?

At the end of September 2026 the largest holdings were MARUTI (3.93%), SUNTV (3.43%), HEROMOTOCO (3.33%), JYOTICNC (3.28%), PVRINOX (2.93%). The fund held 46 securities in all.

What did Kotak Special Opportunities Fund buy and sell in September 2026?

It bought 6 new stocks: AVALON TECHNOLOGIES LTD, QUADRANT FUTURE TEK LIMITED, PRASOL CHEMICALS LIMITED, Engineers India Ltd, JIO FINANCIAL SERVICES LTD. It added shares in 11. It reduced 4.

How do I invest in Kotak Special Opportunities Fund?

Through Kotak Mahindra Mutual Fund's website or app, a mutual fund distributor, or an investment platform. Choose the Direct plan to pay no distributor commission, or the Regular plan to invest through a distributor. The first investment is at least Rs. 100/- and any amount thereafter. You can invest once or through a monthly SIP.

Who is the fund manager of Kotak Special Opportunities Fund?

Devender Singhal, Abhishek Bisen.

Sources: NAV and expense ratio from AMFI. Holdings from the fund house's monthly portfolio statement. Fund facts from its scheme summary document, as on 16-10-2026.

This page is information, not investment advice. Mutual fund investments are subject to market risks; read all scheme related documents carefully. Past returns do not promise future returns. Figures come from AMFI, NSE, BSE and each fund house's own documents.