To inculcate a culture and discipline of regular investing in equity instruments for wealth creation over long term, Motilal Oswal Group has announced Motilal Oswal Group SIP (MOGSIP). Just like a defined contribution plan, once an employee starts a SIP in a mutual fund scheme of Motilal Oswal AMC, the employer will also contribute a matching SIP amount in the employee’s name in the same scheme every month.
In a press release, Motilal Oswal, Managing Director, MOFSL said, “Though many of our group employees are equity investors, there are many others of our own employees, who were not investing in the equity markets. When we are advising external world, all our own people too should be encouraged to invest into equity markets. This will also help them realise how wealth may be created via long term investing in equity markets. Mutual funds are better options for them as a good manager knows all the nitty-gritties of equity markets. Through this initiative, we wish to encourage employees to plan for future with demonstration of conviction in equity as an asset class; backed by further commitment from the employer.”
Within one month of opening subscription to MOGSIP more than 1450 employees have opted for the program. In fact, the first month’s SIP has been successfully invested on 5th September.
Here are the key highlights of the new initiative
• All confirmed and on-roll employees of Motilal Oswal Group Companies are eligible
• Employee may choose from one of three pure equity mutual fund schemes of Motilal Oswal AMC – Multicap, Midcap or Focused
• Once an employee subscribes to a monthly SIP, the employer will also contribute a matching SIP in the employee’s name in the same scheme every month
• The minimum amount for monthly subscription is Rs. 500 only. There is no upper limit on employee’s monthly contribution. Although, the company contribution has certain grade-wise caps
