Publish Date:
Motilal Oswal Mutual Fund has launched – Motilal Oswal S&P BSE Financials ex Bank 30 Index Fund.
It is an open-ended fund replicating / tracking the S&P BSE Financials ex Bank 30 Total Return Index.
The investment objective of the scheme is to provide returns that, correspond to the total returns of the securities as represented by S&P BSE Financials ex Bank 30 Index, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme will be achieved.
Under normal circumstances, Motilal Oswal S&P BSE Financials ex Bank 30 Index Fund will hold an allocation of 95% to 100% of its assets in Constituents of S&P BSE Financials ex Bank 30 Total Return Index, and 0% to 5% of its assets in Debt and Money market instruments, units of Liquid/ debt schemes.
As per the Scheme Information Document (SID), the investment strategy for Motilal Oswal S&P BSE Financials ex Bank 30 Index Fund would involve offering investment returns that are similar to the total returns of S&P BSE Financials ex Bank 30 Total Return Index before fees / expense and subject to tracking error.
Motilal Oswal S&P BSE Financials ex Bank 30 Index Fund’s performance will be benchmarked against S&P BSE Financials ex Bank 30 Total Return Index.
The fund will be managed by Mr Swapnil Mayekar and Mr Abhiroop Mukherjee (for Debt component).
The NFO opens for subscription on July 14, 2022 and closes on July 22, 2022. The scheme will reopen for continuous sale and repurchase Within 5 Business Days from the 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.