Sectoral / Thematic · Equity

Kotak Business Cycle Fund

Kotak Mahindra Asset Management Company Limited.

Benchmark

Nifty 500 TRI

Riskometer

Very High

Size

₹3,397 cr

Allotted

28 Sep 2022

Holdings as of

30 Sep 2026

Kotak Business Cycle Fund is a sectoral / thematic fund of Kotak Mahindra Asset Management Company Limited. with ₹3,397 cr under management. It is ahead of its benchmark (Nifty 500 TRI) in 2 of 2 periods. Its direct plan charges 0.75% a year. Abhishek Bisen has managed it for 4.0 years.

Has Kotak Business Cycle Fund beaten its benchmark?

Ahead of its benchmark, Nifty 500 TRI, in 2 of 2 periods in AMFI's figures; +4.54% over the last year against −4.30%.

Period returns

Direct Plan, growth · 3y and longer a year

Period	Fund	Nifty 500 TRI	Ahead
1 month	−1.15%	−3.60%	—
3 months	−1.41%	−5.03%	—
6 months	+7.06%	−1.83%	—
1 year	+4.42%	−4.06%	+8.48 pts
3 years	+15.36%	+9.27%	+6.09 pts
5 years	—	+8.00%	—
10 years	—	+12.69%	—
Since start from 6 Oct 2022	+15.51%	—	—

Valarth price history to 14 Oct 2026 · the index is the one the fund is nearest; — not on record

Official figures

AMFI performance feed, 13 Oct 2026

Ahead of its benchmark (Nifty 500 TRI) in 2 of 2 periods.

Period	Direct	Regular	Benchmark	Ahead	Rank
1y	+4.54%	+3.18%	−4.30%	+8.84	🔒
3y	+15.48%	+13.87%	+9.33%	+6.15	🔒
5y	—	—	—	—	—
10y	—	—	—	—	—

Ahead in points a year · its rank among Sectoral / Thematic funds, and how steady the lead is, in the app

Value of 100, month-end

Oct 2022 to 14 Oct 2026

Fund 176Nifty 500 TRI 148

₹100 put in at the start of Oct 2022 would be ₹176 on 14 Oct 2026, against ₹148 in the Nifty 500 TRI.

Risk, falls and every year

🔒 Pro

Its worst fall and how long it took to recover, three-year stretches, Sharpe, beta and capture ratios, calendar years beside the index, and money in and out: in the app.

See them in the app →

What does Kotak Business Cycle Fund cost?

0.75% a year on the direct plan, 2.03% on the regular plan; 3 of 174 funds in its category charge less.

Direct plan

0.75% a year

Category median 1.22%

Regular plan

2.03% a year

Category median 2.38%

Gap

1.28 points

for the same holdings

3 of 174 funds in its category charge less on the direct plan.

Expense report, Oct 2026 · Equity Scheme - Sectoral/ Thematic

What the regular plan costs you over time

🔒 Pro

The same money left for years in the direct and the regular plan, side by side, and what the commission takes: in the app.

Who manages Kotak Business Cycle Fund?

Harish Bihani, since 20 Oct 2023; Abhishek Bisen, since 28 Sep 2022.

Harish Bihani

3.0 years

since 20 Oct 2023

Abhishek Bisen

4.0 years

since 28 Sep 2022

Benchmark as filedNifty 500 Total Return Index

Exit load

For redemption / switch out within 90 days from the date of allotment: 0.5% If units are redeemed or switched out on or after 90 days from the date of allotment -Nil Units issued on reinvestment of IDCW shall not be subject to entry and exit load. Any exit load charged (net off Goods and Services tax, if any) shall be credited back to the Scheme.

From 6 Scheme Summary Documents filed with NSE, first on 29 Apr 2026; as on 29 Sep 2026

What does Kotak Business Cycle Fund hold?

54 holdings as of 30 Sep 2026; the ten largest are 40.8% of the fund, the largest ICICI BANK LTD. at 7.7%.

Mix

Holdings as of 30 Sep 2026

Equity98.6%Debt0.0%Cash1.4%Other0.0%

Holdings

52 shares

Top ten

40.8%

of the fund

Effective holdings

34.7

spread, as if equal-weighted

Matched to our table

100%

of the equity

Five largest

% of fund

ICICI BANK LTD.7.69%

ADITYA INFOTECH LIMITED5.74%

INDO-MIM LTD4.39%

ETERNAL LIMITED4.05%

AXIS BANK LTD.3.67%

Five largest industries

% of fund

Banks16.0%

Retailing10.5%

Industrial Manufacturing10.3%

Healthcare Services9.80%

Automobiles5.20%

By company size

% of equity · SEBI size lists

Large Cap43.4%Mid Cap25.7%Small Cap30.9%

How does Kotak Business Cycle Fund score against its category?

Seven scores against funds of its kind, and the warning signs it trips.

Scorecard

🔒 Pro

Seven scores, each out of 5, against funds in its category, with the reasons, and the warning signs it trips: in the app.

Open scorecard in the app →

Are the companies inside any good?

The holdings by valuation, forensic risk, business quality and balance sheet, weighted by their share of the fund.

The companies inside

🔒 Pro

The holdings weighted by their share of the fund: P/E and ROE, forensic risk levels, Valarth's valuation view, quality, moats, balance sheets and who owns them: in the app.

How is Kotak Business Cycle Fund run?

Turnover, what it bought and sold, its cash and its record in new listings, from its monthly holdings files.

How it is run

🔒 Pro

Turnover, what it bought and sold and when, how long it holds, size drift, cash and its record in new listings, from up to two years of monthly holdings files: in the app.

Which funds hold much the same?

The index it is nearest and the funds whose holdings overlap most.

not an index tracker

Nearest to the Nifty 50: 73% of it differs from the index (an active fund is usually above 60%).

Active share 72.9%60%

Funds that hold much the same

% of holdings in common

Kotak Pioneer Fund50.0% the same

28 shared holdings

Kotak Small Cap Fund38.0% the same

27 shared holdings

LIC MF LARGE CAP FUND34.0% the same

16 shared holdings

How much is in its sponsor's own group?

Holdings in companies of the fund house's sponsor group, beside the index.

Related-party exposure

🔒 Pro

How much of the fund is in companies of its sponsor's own group, beside what the index holds of them: in the app.

Questions people ask

Who manages Kotak Business Cycle Fund?

Harish Bihani (manager) since 20 Oct 2023; Abhishek Bisen (manager) since 28 Sep 2022.

What is the expense ratio of Kotak Business Cycle Fund?

0.75% a year on the direct plan and 2.03% on the regular plan (expense report, Oct 2026).

How has Kotak Business Cycle Fund done?

Its direct plan returned +15.48% a year over 3 years against +9.33% for its benchmark, Nifty 500 TRI, as of 13 Oct 2026.