Motilal Oswal Mutual Fund files for ETF based on the S&P 500

Top Quote Motilal Oswal Asset Management Company Ltd has announced the filing of the draft Scheme Information Document (SID) with SEBI for Motilal Oswal MOSt Shares S&P 500 ETF (MOSt Shares SP500), an open ended index ETF, which seeks to track the S&P 500. End Quote
  • (1888PressRelease) March 01, 2011 - Mumbai - The S&P 500 includes 500 leading companies in leading industries of the U.S. economy, capturing 75% coverage of U.S. equities.

    The S&P 500 is widely regarded as the best single gauge of the large cap U.S. equities market since the index was first published in 1957. The index has over US$ 4.83 trillion benchmarked, with index assets comprising approximately US$ 1.1 trillion of this total.

    Speaking on the filing, Mr. Nitin Rakesh, MD & CEO of Motilal Oswal AMC said, "In our continuing endeavour to bring to the Indian investors innovative products, we are happy to announce the filing of Motilal Oswal MOSt Shares S&P 500 ETF for approval. This ETF will provide a cost-efficient, Rupee denominated, diversified exposure to the US stock market with access to household names like United Technologies, Tupperware, Boeing, Coca Cola, Ford, McDonalds, Xerox and Walt Disney."

    "The S&P 500 is the world's most followed stock market index with more assets directly linked to it than any other index," says Alexander Matturri, Executive Managing Director at S&P Indices. "We are proud to license our flagship index to Motilal and welcome them to our family of ETF licensees."

    For more information please contact:

    Alpesh Nakrani / Anirudh Rajan
    Paradigm Shift Public Relations
    Mob: +91 9869121167/+91 9892343828
    Tel: +91 22 22813797 / 98

    Mr. Hari Krishnan
    Motilal Oswal AMC
    Mob: +91 9820520392
    Ph: +91 22 39825500

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