Friday, February 25, 2011

Motilal Oswal MOSt Shares S&P 500 ETF files offer document with Sebi

Motilal Oswal Mutual Fund files offer document with Sebi to launch Motilal Oswal MOSt Shares S&P 500 ETF (MOSt Shares SP500), an open ended Index Exchange Traded Fund. The New Fund Offer price is Rs. 10 per unit.

Investment objective: The scheme seeks investment return that corresponds (before fees and expenses) generally to the performance of the S&P 500 Index (Underlying Index), subject to tracking error.

Options offered: The scheme offers only Growth Option.

Benchmark: The S&P 500 Index

Loads:

Entry Load: Not Applicable

Exit Load: Nil

Minimum Application Amount: Rs. 10,000 and in multiples of Re. 1 each.

Minimum Target Amount: Rs. 10 crore during the New Fund Offer

Asset Allocation: The scheme shall invest 95%-100% in securities constituting the S&P 500 Index. The scheme shall also invest upto 5% in debt and money market instruments and cash at call, mutual fund schemes or exchange traded funds based on the S&P 500 Index. The scheme may take an exposure to derivatives of the Underlying Index or constituents of the Underlying Index. The scheme shall invest in derivatives only for hedging and portfolio balancing. The total exposure to derivatives would be restricted to 10% of the net assets of the scheme. The margin paid for derivative instruments will form part of debt and money market instruments.

Fund Manager: Mr. Rajnish Rastogi

Source: http://www.indiainfoline.com/Markets/News/Motilal-Oswal-MOSt-Shares-SandP-500-ETF-files-offer-document-with-Sebi/3577902174

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