Mutual Fund News : Motilal Oswal Mutual Fund launches Motilal Oswal S&P 500 Index Fund

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Motilal Oswal Mutual Fund has launched ‘Motilal Oswal S&P 500 Index Fund’, a passively managed open ended equity scheme tracking the US equity markets by replicating the S&P 500 Index.

The Scheme seeks investment return that corresponds to the performance of S&P 500 Index subject to tracking error. However, there can be no assurance or guarantee that the investment objective of the Scheme would be achieved.

The performance of the fund will be benchmarked against S&P 500 TR Index.

The fund will be managed by Mr. Herin Visaria (Foreign Securities) & Mr. Abhiroop Mukherjee (Debt Securities).

The NFO opens for subscription on April 15, 2020 and closes on April 23, 2020.

The New Fund Offer is priced at 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, with each plan having Growth Option.