Mutual Fund News : Motilal Oswal MF introduces Nifty Next 50 Index Fund

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Motilal Oswal Mutual Fund (MF) has launched the Motilal Oswal Nifty Next 50 Index Fund (MOFNEXT50), an open-ended scheme replicating/ tracking Nifty Next 50 Index.

The investment objective of the scheme is to seek investment return that corresponds to the performance of Nifty Next 50 Index subject to tracking error.

The NFO opens for subscription on December 03, 2019 and closes on December 17, 2019.

The fund will be managed by Mr. Swapnil Mayekar, while its performance will be benchmarked against Nifty Next 50 Index TRI.

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 500 and in multiples of Re 1 thereafter.

The scheme offers Regular Plan and Direct Plan having Growth Option and seeks to collect a Minimum Target Amount of Rs 10 crore.

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