Motilal Oswal Mutual Fund launches its maiden fund

Motilal Oswal Mutual Fund has launched a new open ended Exchange Traded Fund (ETF) namely, MOSt Shares M50 ETF. The new fund offer would remain open from 30th June, 2010 to 19th July, 2010. The minimum investment amount of the scheme is Rs 10,000. The investment objective is to seek investment return that corresponds (before fees and expenses) generally to the performance of the MOSt 50 Index (Underlying Index), subject to tracking error. The scheme will allocate 95 per cent to 100 per cent of assets in securities constituting MOSt 50 Basket with medium to high risk profile. It would further allocate up to 5 per cent of assets in debt and money market instruments and cash at call with low to medium risk profile. The scheme will be managed by Mr. Rajnish Rastogi and will be benchmarked against S&P CNX Nifty Index.

Source: http://finance.indiamart.com/cgi-bin/mutual_top_stories.cgi?news_headline=Motilal+Oswal++Mutual+Fund+launches+its+maiden+fund@