Motilal Oswal Mutual Fund launches MOSt Shares M100 ETF India's First Midcap ETF; based on CNX Midcap Index
Motilal Oswal Asset Management Company Ltd. has announced the launch of Motilal Oswal MOSt Shares Midcap 100 ETF (MOSt Shares M100), an open ended Index Exchange Traded Fund which seeks to track the CNX Midcap Index. This Midcap ETF is India's first exchange traded fund (ETF) which tracks the performance of the Midcap segment of the broader stock market.
- (1888PressRelease) January 11, 2011 - Mumbai - Speaking at the launch of Motilal Oswal Mutual Fund's second product, Mr. Nitin Rakesh, MD & CEO said, "We are excited to bring a brand new product to market - MOSt Shares M100 will be a 1st of its kind access into a midcap basket and will provide all categories of advisors & investors the ability to allocate assets to midcaps as a segment". MOSt Shares M100 is the second offering and also second 'India's First' product from the stable of Motilal Oswal Mutual Fund, in line with Motilal Oswal AMC's endeavor to launch such specialized first of their kind products.
MOSt Shares M100 ETF will be listed on the NSE. The minimum investment amount during the NFO is ` 10,000 and in multiples of ` 1 thereafter. On an ongoing basis, on the exchange, the units of the Scheme can be bought/sold in round lot of 1 unit. The fund manager of the scheme is Mr. Rajnish Rastogi.
The New Fund Offer (NFO) will be open for subscription from January 12, 2011 and will be closed on January 24, 2011.
For more information please contact:
Alpesh Nakrani / Anirudh Rajan
Paradigm Shift Public Relations
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