Mumbai: Motilal Oswal Mutual Fund has filed an offer document for launching a new ETF scheme based on S&P 500 index. The scheme, MOSt Shares S&P 500 ETF, will be an open ended index exchange traded fund.
The investment objective of the scheme is to seek investment return that corresponds (before fees and expenses) generally to the performance of the S&P 500 Index, subject to tracking error. The scheme will invest 95 to 100 per cent in securities constituting the S&P 500 index with medium to high risk profile. It would further invest upto 5 per cent in debt and money market instruments and cash at call, mutual fund schemes or exchange traded funds based on the S&P 500 Index with low to medium risk profile
The scheme will managed by Rajnish Rastogi. It will benchmark against S&P 500 index.
