INDAX Fees and Costs — Kotak India Equity Fund, Investor Shares
Data updated: 2026-09-25
The net expense ratio is 1.28%: a 0.65% management fee, a 0.25% 12b-1 fee plus 0.38% other expenses. This share class carries a redemption fee of 2.00%. In fiscal 2025 the fund paid $464K in broker commissions, 0.1207% of average net assets, and portfolio turnover was 53%.
INDAX Fees and Expenses
Annual operating expenses and sales charges of INDAX. Prospectus, as of February 28, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.65% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.38% |
| Gross expense ratio | 1.28% |
| Fee waiver | — |
| Net expense ratio | 1.28% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | 2.00% |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | Yes |
INDAX Costs Over Time
On $10,000 invested in INDAX, assuming 5% a year before costs, total costs come to $869 over 5 years, cutting the return by 1.47% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 1.28%) | $134 | $418 | $721 |
| Trading costs (broker commissions) | $13 | $39 | $68 |
| Lost growth on money paid in costs | $0 | $23 | $80 |
| Total costs | $147 | $480 | $869 |
| Value after costs | $10,353 | $11,097 | $11,894 |
| Impact on return, per year | 1.47% | 1.47% | 1.47% |
INDAX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.1207%
- Total broker commissions: $464K
- Bought from dealers (principal trades, not a cost): —
- Portfolio turnover (prospectus): 53%
- Securities lending: none during the year
INDAX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley | $63K | 18.83% |
| NOMURA SECURITIES INTERNATIONAL, INC. | $55K | 16.25% |
| AXIS CAPITAL HOLDINGS | $31K | 9.35% |
| ICICI SECURITIES INC. | $31K | 9.22% |
| Jefferies LLC | $30K | 8.96% |
| EDELWEISS FINANCIAL SERVICES INC. | $29K | 8.52% |
| KOTAK MAHINDRA, INC. | $29K | 8.51% |
| GOLDMAN SACHS & CO. LLC | $27K | 8.00% |
| UBS SECURITIES LLC | $22K | 6.61% |
| EQUIRUS SECURITIES PRIVATE LIMITED | $19K | 5.75% |
Kotak India Equity Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| INDSX | Class II | 0.75% | none |
| INDIX | Class I | 0.93% | none |
| INAAX | Class A | 1.28% | 3.25% |
| INDAX | Investor Shares | 1.28% | none |
| INFCX | Class C | 1.97% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.