Publish Date:
Motilal Oswal Mutual Fund has launched an open-ended equity scheme – Motilal Oswal MSCI EAFE Top 100 Select Index Fund.
The scheme will be replicating/ tracking MSCI EAFE Top 100 Select Index.
The investment objective of the scheme is to generate long term capital appreciation by investing in securities of MSCI EAFE Top 100 Select Index subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.
Under normal circumstances, 95% to 100% of the funds portfolio will be invested in Equity and Equity Related Securities of MSCI EAFE Top 100 Select Index. It can also invest 0% to 5% of its assets in Units of Liquid schemes / Money Market Instruments / iShares Core MSCI EAFE ETF (IEFA), iShares MSCI EAFE ETF (EFA), iShares Core MSCI International Developed Markets ETF (IDEV), Vanguard FTSE Developed Markets ETF (VEA).
The investment strategy of Motilal Oswal MSCI EAFE Top 100 Select Index Fund as mentioned in the Scheme Information Document (SID) is as follows:
The Scheme follows a passive investment strategy and invests in stocks in a proportion that is as close as possible to the weightages of these stocks in the respective index (MSCI EAFE Top 100 Select index). The investment strategy would revolve around reducing the tracking error to the least possible through regular rebalancing of the portfolio, taking into account the change in weights of stocks in the indices as well as the incremental collections /redemptions from the Scheme
MSCI EAFE Top 100 Select Index seek to measure the performance of top 100 companies from select Developed Markets and are also part of MSCI EAFE Index (Universe index). The index doesn’t include companies from US and Canada.
Motilal Oswal MSCI EAFE Top 100 Select Index Fund’s performance will be benchmarked against MSCI EAFE Top 100 Select Index.
The fund will be managed by Mr Ankush Sood (For Foreign Securities) and Mr Abhiroop Mukherjee (For Debt Component).
The NFO opens for subscription on November 15, 2021 and closes on November 25, 2021. The scheme will reopen for continuous sale and repurchase within 5 business days from date of allotment.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.
The fund offers Regular Plan and Direct Plan. Each Plan offers Growth Option.