Motilal Oswal Mutual Fund has launched Motilal Oswal S&P 500® Index Fund, an open-ended scheme tracking US S&P 500® Index.
The S&P 500® Index has exposure to 11 sectors, purely large cap companies and covers approximately 80% of available market. The S&P 500® Index is the world’s largest index with a track record of 63 years.
In a press release, Aashish Somaiyaa, MD and CEO, Motilal Oswal MF said, “If you entered the Indian equity markets and you had no clue where to start, you would start with the A group in BSE, similarly if you entered the global equity markets from another planet and you had no clue where to start, you would start with S&P 500. It’s the world’s A group or the world’s large cap index composed of some of the biggest global companies.”
The NFO of the fund opens on April 15, 2020 and closes on April 23, 2020.
