Kotak PMS

PMS Rating

IME PMS Rating

3 of 5 stars

Can be considered for investment due to being a stable AMC-driven PMS: Within AMC-driven PMS houses, Kotak PMS is one of the better-run PMS platforms. This is primarily driven by a relatively stable investment team and a more differentiated & defined investment style (relative to other AMC PMSs, but not pure-play investor-promoted PMS funds), which combined with the benefits of being a part of a larger financial conglomerate make it a reasonable choice for PMS investments.

The PMS/AIF AMC Rating is derived on the basis of our analysis on 5 key qualitative parameters that we use to analyse the quality of a PMS/AIF Provider. These include an assessment of the size of the AMC, the pedigree of the AMC, the pedigree of the team, the value of the investment philosophy & the level of differentiation. These insights of our central research team are documented in the IME RMS, and can be accessed during a consultation call with an IME PMS specialist.

PMS Background

Discretionary AUM (803cr) | Promoter Category ()

PMS Background

As part of one of the most respected financial brands in India, Kotak PMS benefits from the substantial research, broker & corporate access and distribution strengths that come along with being a part of a financial conglomerate (a leading bank, broker, wealth managers and mutual fund). It is one of the oldest PMS houses in India and enjoy’s a top-10 ranking in the Indian PMS industry.

PMS Investment Philosophy

Kotak PMS follows a value investing style (i.e. buying stocks at a significant discount to their underlying value). The aim is to invest in well-managed and high-quality companies, that may be currently out of market favor, but with identified triggers that can act as catalysts to unlock value.

Investment Parameters 

Invest under the following parameters:

  • Management Quality – Assess management Quality by analysing 3 parameters–> Operations Management, Capital Allocation
  • Growing Market Opportunity – They believe it is difficult for a business to grow if market is not growing and may lead to a turf war. 
  • Returns on Invested Capital- Gauge competitive strength of a company. Usually, high returns on invested capital should attract competitors. 
  • Strong Financials and Earnings Growth- Look for businesses that have ability to resist changes in the economy. Reason why they look for businesses with low leverage. 
  • Fair Valuations- Seek for mispriced opportunities in order to take advantage of risk-reward. 

Inv Team

Investment Team

Anshul Saigal | 4-star rated FM

Fund Manager | 23 yrs Experience | 17 yrs at current firm

Past Experience: Digital Century (VP), Stan C (Corporate Banking), JP Morgan (Analyst)

Anshul has been with Kotak PMS for over a decade, where he follows a value-oriented investment strategy. His past experience includes identifying long-short opportunities in tech at Digital Century, Corporate Banking at Stan C and as an analyst at JP Morgan.

PMS/AIF Schemes

PMS & Listed Equity AIF Schemes

Scheme Category Style 1 yr 3 yr 5 yr Since Inc
Kotak Investment Approach Series II Special Opportunities Value 35.7 24 19.3 10.5
Kotak Focus Investment I Special Opportunities Value 34.6 22.6 16.3 14.6
Kotak Small & Midcap Equity Mid & Smallcap GARP 43.5 25.5 20.8 18.1
Kotak Pharma & Healthcare Healthcare Sectoral 54.9 19 21.3 13.9

Returns as of 28-Feb-24.

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Details shared on the public website, are only a short snapshot of the more detailed analysis that resides in our Proprietary Research Management Solution (RMS) – A proprietary cloud-based tool, that ensures that the unbiased research insights of our central research team are shared directly with investors.

Our RMS allows us to operate with a level of transparency, ethics & consistency of insights, that is unparrarelled in the industry. Our RM’s will help showcase the PMS/AIF options that are the most suited for your unique requirements.

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Note: PMS AMC & Scheme Reviews and Ratings are based on IME Capital’s Proprietary Review and Rating Methodology (read more here: AMC Rating & Scheme Ratings). These reflect the unbiased views of our central research team, based on our assessment of the investment value of these PMS/AIF strategies for our investors. We follow a highly stringent rating-criteria, where approximately 50% of PMS AMC’s & strategies would be rated 2-star or below (this is not meant to indicate that these funds are not investment-worthy, but that they do not currently fulfill the requirements we focus on for recommending funds to our investors — based on our internal views on the merit of the AMC/strategy relative to peers). Reviews & Ratings are primarily based on research of publicly available information (SEBI disclosures, PMS websites, PMS-aggregation platforms, webinar recording, media interviews etc.) and no explicit consent is required from AMCs for the same. While we endeavour to do further due-diligence via direct interactions with the investment teams of AMCs, this is typically restricted to AMC’s that meet our foundational fund selection criteria (reviews on lower-rated AMCs are often based solely on publicly available information). The views reflected in our Reviews & Ratings, are our independent views and may not be shared by the AMC’s and the investment teams. Please read detailed disclaimer for more.