Kotak Infrastructure & Economic Reform Fund
Sectoral/ Thematic · Kotak Mahindra Asset Management Company Limited.
Among the 946 funds in its category, this one has grown money a bit faster than average. ₹1 lakh invested 5 years ago would be about ₹2.3 lakh today. Investing ₹10,000 every month for the last 10 years would have put in ₹12.1 lakh and grown it to about ₹32.3 lakh. Be warned: in its worst stretch, ₹1 lakh briefly shrank to about ₹54,000. Funds like this reward patience and punish panic-selling.
New to fund research? Start with the 5-minute guide. The detailed numbers below back all of this up.Kotak Infrastructure & Economic Reform Fund is a Sectoral/ Thematic fund from Kotak Mahindra Asset Management Company Limited.. It has a track record of about 11.6 years. As of the latest data it carries an RS rating of 63/99 (its recent momentum versus category peers) and a King Score of 61/100 (a long-term quality composite). The current NAV is ₹81.81 (as of 2026-09-16).
Growth of ₹100 - last 5 years
Kotak Infrastructure & Economic Reform Fund returns: last 1, 3, 5 and 10 years
| Period | This fund | Category average |
|---|---|---|
| 1 month | -3.68% | -3.47% |
| 3 months | 0.79% | 2.0% |
| 6 months | 12.38% | 10.56% |
| 1 year | 5.64% | 4.78% |
| 3 years (CAGR) | 15.04% | 13.85% |
| 5 years (CAGR) | 17.76% | 12.48% |
| 10 years (CAGR) | 16.34% | 14.18% |
The last 10 years return of Kotak Infrastructure & Economic Reform Fund works out to 16.34% a year (CAGR) - ₹1 lakh invested 10 years ago would be about ₹4.5 lakh today. The last 5 years return is 17.76% a year (₹1 lakh → ₹2.3 lakh), and the last 3 years return is 15.04% - ahead of its category's 13.85% average by 1.2 points. Its trailing one-year return is 5.64%. Trailing returns flatter or disappoint depending on the end date you pick - the year-by-year and rolling-return sections below are a fairer read.
Year-by-year returns
| Year | Kotak Infrastructure & | Benchmark |
|---|---|---|
| 2018 | -18.4% | n/a |
| 2019 | +4.8% | n/a |
| 2020 | +4.6% | n/a |
| 2021 | +59.4% | n/a |
| 2022 | +17.3% | n/a |
| 2023 | +39.2% | n/a |
| 2024 | +34.3% | n/a |
| 2025 | -2.4% | n/a |
| 2026 | +5.4% | n/a |
Calendar-year returns show how bumpy the ride really was - an average hides the good years and the ugly ones.
What a monthly SIP in Kotak Infrastructure & Economic Reform Fund would have made
A ₹10,000-a-month SIP, using this fund's actual NAV history. SIP returns (XIRR) differ from lumpsum CAGR because your money goes in gradually, averaging your entry price.
| SIP duration | You invested | It became | XIRR |
|---|---|---|---|
| 3 years | ₹370,000 | ₹421,388 | 8.63% |
| 5 years | ₹610,000 | ₹914,749 | 16.19% |
| 10 years | ₹1,210,000 | ₹3,229,543 | 18.63% |
Over 10 years, ₹1,210,000 invested in monthly instalments would have grown to about ₹3,229,543 - an XIRR of 18.63%. Figures are pre-tax and assume you stayed invested throughout.
Risk & drawdowns
| Measure | This fund | Category average |
|---|---|---|
| Worst drawdown (lifetime) | -46.0% | -26.37% |
| Worst drawdown (3Y) | -27.73% | -20.9% |
| Volatility (1Y) | 20.12% | 19.02% |
| Sharpe (3Y) | 0.47 | 0.31 |
| Bull-market return | 32.9% | 30.78% |
| Bear-market return | -32.9% | -23.76% |
Timing matters more than people admit: the best possible 1-year stretch in Kotak Infrastructure & Economic Reform Fund (starting 2020-10-15) gained 100.7%, while the worst (starting 2019-03-22) lost 34.2%. The worst peak-to-bottom fall Kotak Infrastructure & Economic Reform Fund has ever put investors through is -46.0% - the real test of whether you'd have stayed invested. In falling markets (Nifty below its 200-day average) it has returned about -32.9% annualised, versus 32.9% in rising markets.
How Kotak Infrastructure & Economic Reform Fund behaves when markets fall
When the market is falling (the Nifty below its 200-day average), Kotak Infrastructure & Economic Reform Fund has historically returned about -32.9% annualised, versus roughly 32.9% when the market is rising. Its deepest fall on record is -46.0%. Right now it sits about 3.8% below its all-time high (last hit 2026-08-13). The real question isn't the average year - it's whether you could hold on through the worst one.
How Kotak Infrastructure & Economic Reform Fund ranks in its category
Percentile versus its ~946 category peers - 100th is best-in-class, 50th is average. This is the fairest apples-to-apples read.
Consistency (rolling returns)
| Measure | Value |
|---|---|
| Median 3Y rolling CAGR | 19.63% |
| 3Y windows positive | 89.3% |
| Worst 3Y window | -11.2% |
| 3Y windows beating Nifty 500 | 71.9% |
| Median 5Y rolling CAGR | 15.95% |
| Median 10Y rolling CAGR | 17.19% |
Instead of one lucky start date, rolling returns test every start date. Across all 3-year windows in its history, Kotak Infrastructure & Economic Reform Fund returned a median of 19.63% a year, and 89.3% of those windows were positive.
What Kotak Infrastructure & Economic Reform Fund holds
Its latest monthly portfolio disclosure. This is what your money actually owns.
Top holdings
Sector allocation
The top 10 holdings make up 46.2% of the portfolio, across 49 stocks. A higher concentration means the fund's fortunes ride on fewer names.
Portfolio overlap with similar funds
Kotak Infrastructure & Economic Reform Fund shares HDFC Transportation and Logistics Fund (4%), ICICI Prudential Transportation And Logistics Fund (1%), ICICI Prudential Innovation Fund (1%) of its portfolio with these category peers (overlap = the slice of the two portfolios invested in the same stocks). The lower the overlap, the more genuinely different the portfolios are.
Who manages Kotak Infrastructure & Economic Reform Fund - and how good are they?
Kotak Infrastructure & Economic Reform Fund is managed by Nalin Bhatt. Below is each manager's complete track record - every fund they currently run, judged on the same numbers as everything else on this page - so you can see whether this fund is in strong hands or is the outlier in a weak book.
Nalin Bhatt's full record
Nalin Bhatt currently runs 2 funds, across Sectoral/ Thematic, with about ₹2,875 Cr under management. The book's average King Score is 61.0/100. This fund is the highest-scored fund they run (King 61/100).
Tap any column heading to sort.
| # | Fund | RS | King | 3M | 6M | 1Y | 3Y CAGR | 5Y CAGR | 10Y CAGR | Sharpe | Roll 3Y | Worst fall |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Kotak Infrastructure & Economic Reform Fund (this page) | 63 | 61 | 0.8% | 12.4% | 5.6% | 15.0% | 17.8% | 16.3% | 0.47 | 19.6% | -46.0% |
| 2 | Kotak Transportation & Logistics Fund | 74 | n/a | 7.1% | 12.3% | 2.7% | n/a | n/a | n/a | 0.21 | n/a | -17.1% |
A caveat worth keeping: funds often have co-managers, and results belong to the whole team and process rather than one person. A manager's book tells you about their range and consistency, not a guarantee of skill.
Cost & fund basics
| Detail | Value |
|---|---|
| Expense ratio (Direct) | 0.72% |
| Exit load | ≈1% if redeemed within 1 year (typical) |
| Minimum investment | ₹100 |
| Fund size (AUM) | ₹2,384 Cr |
| Age | 11.6 years |
| Plan / Option | Direct · Growth |
How Kotak Infrastructure & Economic Reform Fund compares to peers
| Fund | RS | King | 3Y CAGR |
|---|---|---|---|
| HDFC Transportation and Logistics Fund | 82 | 89 | 24.1% |
| ICICI Prudential Transportation And Logistics Fund | 78 | 87 | 21.1% |
| ICICI Prudential Innovation Fund | 56 | 87 | 17.8% |
| LIC MF Healthcare Fund | 91 | 87 | 21.4% |
| Kotak Manufacture in India Fund | 81 | 83 | 19.1% |
| HDFC Defence Fund | 87 | 83 | 36.0% |
Overlap warning: funds in the same category often own many of the same stocks - holding several rarely adds the diversification people expect.
What these numbers mean
RS rating (1-99) ranks a fund's recent momentum against its category - higher is stronger right now. King Score (0-100) is a long-term quality composite (returns, consistency, drawdown, risk-adjusted return) versus peers. Max drawdown is the worst peak-to-bottom fall the fund has ever experienced. Rolling returns test every possible start date, so one lucky (or unlucky) entry point can't distort the picture. Every formula behind this page is public - see how we calculate every number.
Kotak Infrastructure & Economic Reform Fund review: the bottom line
Related
Frequently asked questions
Is Kotak Infrastructure & Economic Reform Fund a good mutual fund?
That depends on your goals and risk tolerance - this is descriptive research, not advice. On the numbers, Kotak Infrastructure & Economic Reform Fund scores 61/100 on our King Score and RS 63/99 within its category, has compounded 15.04% a year over three years, and its worst drawdown was -46.0%. Compare those against your needs and the peer table above.
What is the NAV of Kotak Infrastructure & Economic Reform Fund today?
The latest NAV is ₹81.81 (as of 2026-09-16). NAV (net asset value) is the per-unit price of the fund, published every business day by the AMC.
What is the last 10 years return of Kotak Infrastructure & Economic Reform Fund?
Over the last 10 years Kotak Infrastructure & Economic Reform Fund has returned about 16.34% a year (CAGR). In rupees: ₹1 lakh invested 10 years ago would be roughly ₹4.5 lakh today, before tax. See the year-by-year table above for how uneven the ride was.
What is the expense ratio of Kotak Infrastructure & Economic Reform Fund?
The Direct-plan expense ratio is 0.72% a year. The Direct plan is cheaper than the Regular plan because it carries no distributor commission - over decades that gap compounds meaningfully.
Who is the fund manager of Kotak Infrastructure & Economic Reform Fund?
Kotak Infrastructure & Economic Reform Fund is managed by Nalin Bhatt.
Is Kotak Infrastructure & Economic Reform Fund safe? How risky is it?
No market-linked fund is 'safe' in the fixed-deposit sense - the honest question is how deep its falls get. Its worst historical drawdown was -46.0% - ₹1 lakh briefly becoming about ₹54,000. As a sectoral & thematic fund, its risk profile is typical of that category. Look at the drawdown, volatility and bear-market figures above and ask whether you could stay invested through the bad stretches.
Is Kotak Infrastructure & Economic Reform Fund good for SIP?
We can't tell you what to do, but here is what actually happened: a ₹10,000 monthly SIP over the last 10 years grew ₹12.1 lakh into about ₹32.3 lakh (XIRR 18.63%). SIPs average your entry price, which helps most in funds that swing hard - check the crash-behaviour section above to see how it treats investors in bad markets.
What are the SIP returns of Kotak Infrastructure & Economic Reform Fund?
A ₹10,000/month SIP over 10 years would have grown to about ₹3,229,543 (an XIRR of 18.63%) on ₹1,210,000 invested, using the fund's actual NAV history. See the SIP table above for other durations.
How does Kotak Infrastructure & Economic Reform Fund rank among similar funds?
On 3-year returns it sits around the 73th percentile of its category, and its consistency ranks 70th percentile. 100th is best-in-class, 50th is average. See the category-ranking section above.
Is Kotak Infrastructure & Economic Reform Fund tax-efficient / what about capital gains?
As a sectoral & thematic fund, gains follow the rules for its asset class - equity-oriented funds are taxed differently from debt. All returns on this page are pre-tax; your actual post-tax return depends on your holding period and slab. This is descriptive information, not tax advice.
Direct or Regular plan - which is shown here?
All figures on this page are for the Direct-Growth plan (no distributor commission, lower cost). Returns are pre-tax; capital-gains tax depends on your own holding period and slab.
See Kotak Infrastructure & Economic Reform Fund live in the MF Terminal
Everything above is a static snapshot. The terminal is where you actually research it:
- Interactive price chart with EMAs & RSI
- The RS line plotted against its benchmark
- Full holdings, sector mix & portfolio overlap
- Point-in-time backtester & portfolio doctor
- Compare it side-by-side with any peer
- Screen 1,600+ funds on the same metrics
Data: AMFI NAV history, NSE indices, BSE StAR and monthly disclosures. All figures are pre-tax. Descriptive research and education only - nothing here is investment advice or a recommendation to buy, sell or hold any fund. Past performance does not guarantee future returns.