Most mutual fund houses, after getting approval from the Securities and Exchange Board of India (SEBI), launch a plain-vanilla fund. However, Motilal Oswal Asset Management Company (AMC) has decided to start its journey with a different type of a fund.
The AMC has filed an offer document with the market regulator SEBI that it has named the MOSt Shares M50 – Motilal Oswal Exchange Traded Fund (ETF).
It is an open ended Index ETF.
The underlying index is the MOSt 50 Index. MOSt 50 is a customized Index whose constituents will be the same as that of constitu
ents of S&P CNX Nifty. However, the weightage would not be the same as S&P CNX Nifty, but would be based on their superior financial performance.
The new fund offer (NFO) unit price for the scheme will be Rs 10.
The fund would invest up to 100 per cent in the MOSt 50 Index while it would invest up to 10 per cent in debt and money market instruments.
The fund would be managed by Rajnish Rastogi who is a CFA Charter Holder from CFA Institute, USA, and both a B Tech (Electrical Engineering), as well as a M.Tech from IIT, Delhi. He also has 13 years of experience in the financial services industry.
The minimum application amount would be Rs 10,000.
No exit load would be applicable.
Source: http://new.valueresearchonline.com/story/h2_storyView.asp?str=101287
The AMC has filed an offer document with the market regulator SEBI that it has named the MOSt Shares M50 – Motilal Oswal Exchange Traded Fund (ETF).
It is an open ended Index ETF.
The underlying index is the MOSt 50 Index. MOSt 50 is a customized Index whose constituents will be the same as that of constitu
ents of S&P CNX Nifty. However, the weightage would not be the same as S&P CNX Nifty, but would be based on their superior financial performance.
The new fund offer (NFO) unit price for the scheme will be Rs 10.
The fund would invest up to 100 per cent in the MOSt 50 Index while it would invest up to 10 per cent in debt and money market instruments.
The fund would be managed by Rajnish Rastogi who is a CFA Charter Holder from CFA Institute, USA, and both a B Tech (Electrical Engineering), as well as a M.Tech from IIT, Delhi. He also has 13 years of experience in the financial services industry.
The minimum application amount would be Rs 10,000.
No exit load would be applicable.
Source: http://new.valueresearchonline.com/story/h2_storyView.asp?str=101287
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