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Motilal Oswal MF has launched Motilal Oswal Nifty 500 ETF.
The underlying index comprises 500 companies based on their market capitalization. The index has exposure to 21 sectors. Overall, the index offers a blend of large cap (75%), Midcap (16%) and small cap (9%).
The ETF is expected to be listed on NSE by 6th October 2023 with the trading symbol of ‘MONIFTY500’.
In a press release, Pratik Oswal, Head of Passive Funds, Motilal Oswal MF said, "Investors seeking diversification across market caps, sectors and stocks to mitigate risk will find this ETF to be an ideal choice. With over 90% market capitalization coverage, it offers a blend of stability, diversification and growth potential, making it an appealing option for those looking to capitalize on India's promising future.”
The minimum application amount for Motilal Oswal Nifty 500 ETF is Rs. 500.
