Motilal Oswal Mutual Fund has filed an offer document with SEBI to launch Motilal Oswal MOSt Fixed Maturity Plan – Series 1, a close ended debt scheme.
The objective of the scheme will be to generate income by investing in a portfolio of debt and money market instruments normally maturing in line with the duration of the scheme. The scheme will invest in domestic debt instruments including government securities, money market instrument and securitized debt. However investment in securitized debt would be up to 15% of the net assets.
The scheme will offer two investment plans with separate portfolios. The two plans being, Annual Plan 1 & 2 (366 days) and Quarterly Plan 1 & 2 (91days). The benchmark for Annual Plan 1 & 2 (366 days) will be CRISIL Short Term Bond Fund Index and the benchmark for Quarterly Plan 1 & 2 (91days) will be CRISIL Liquid Fund Index.
The minimum application amount in the NFO will be Rs.10000/-. The scheme will offer a growth option and a dividend payout option.
Mr. Abhiroop Mukherjee will be the fund manager of the scheme and will be responsible for managing investments in all the money market instruments of the scheme.
