Motilal Oswal Mutual Fund launches MOSt Shares M100 ETF
MUMBAI: Motilal Oswal Mutual Fund has launched MOSt Shares M100 ETF, an open ended index exchanged traded scheme.
NFO Period: January 12, 2011 to January 24, 2011
Investment Objective: The fund seeks investment return that corresponds (before fees and expenses) to the performance of the CNX Midcap Index (underlying Index), subject to tracking error.
Asset Allocation: The scheme would allocate 95 to 100 per cent of assets in securities constituting CNX Midcap Index with medium to low risk profile. It will further allocate at least 5 per cent of assets to debt and money market instruments and cash at call with low to medium risk profile
Benchmark Index: CNX Midcap Index
Expenses/Exit Load: The total recurring expenses charged to the scheme will be 1.50 per cent per annum. There will be no exit load.
Fund Manager: The scheme will be managed by Rajnish Rastogi, Sr. Vice President & Co-Head of Equities.
Target Investors
The fund house is targeting every segment of the investors like retail, mass affluent, HNI, companies, institutions.
Distribution Strategy
The fund will be distributed through a mix of its own retail network and third party channel partners. The fund house has also approached private banks, wealth management firms and some institutional investors.
A Motilal spokesperson said, “Since it is a listed product, broking channels are very active. IFAs are very active for us as they also like asset allocation model. We aim to do 50 road shows and presentations around 45 cities.”
Motilal Oswal expects lot of mobilisation to come through online platforms - BSE Star and NSE MFSS. Motilal Oswal had received 80 per cent of applications online during the earlier NFO.
Empanelled IFAs: 200 plus
Collection banker: HDFC is the only collection banker.
Application Amount: Rs. 10,000/- and in multiples of Re 1 thereafter
Custodian/Collection Bank/RTA: Karvy is the official registrar.
