Motilal Oswal Mutual Fund has launched four passive funds: Nifty MidSmall IT and Telecom Index Fund, Nifty MidSmall Financial Services Index Fund, Nifty MidSmall Healthcare Index Fund, Nifty MidSmall India Consumption Index Fund.
The new fund offer or NFO of these four funds is open for subscription and will close on November 6. The schemes will reopen for continuous sale and repurchase on November 19.
The minimum application amount for lumpsum and SIP investment in all four schemes is Rs 500 and in multiples of Re 1 thereafter. Swapnil Mayekar and Rakesh Shetty will manage all four index funds
Motilal Oswal Nifty MidSmall IT and Telecom Index Fund
Motilal Oswal Nifty MidSmall IT and Telecom Index Fund is an open ended fund replicating / tracking the Nifty MidSmall IT and Telecom Total Return Index.The scheme will be benchmarked against Nifty MidSmall IT and Telecom Total Return Index.
The scheme will allocate 95-100% in constituents of Nifty MidSmall IT and Telecom Total Return Index and 0-5% in liquid schemes/ debt schemes, debt and/or money market instruments.
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Motilal Oswal Nifty MidSmall Financial Services Index Fund
Motilal Oswal Nifty MidSmall Financial Services Index Fund is an open ended fund replicating / tracking the Nifty MidSmall Financial Services Total Return Index.
The scheme will be benchmarked against Nifty MidSmall Financial Services Total Return Index.
The scheme will allocate 95-100% in constituents of Nifty MidSmall Financial Services Total Return Index and 0-5% in liquid schemes/ debt schemes, debt and/or money market instruments.
Motilal Oswal Nifty MidSmall Healthcare Index Fund
Motilal Oswal Nifty MidSmall Healthcare Index Fund is an open ended fund replicating / tracking the Nifty MidSmall Healthcare Total Return Index.
The scheme will be benchmarked against Nifty MidSmall Healthcare Total Return Index.
The scheme will allocate 95-100% in constituents of Nifty MidSmall Healthcare Index Fund and 0-5% in units of Liquid schemes and Money Market instruments.
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Motilal Oswal Nifty MidSmall India Consumption Index Fund
Motilal Oswal Nifty MidSmall India Consumption Index Fund is an open ended fund replicating / tracking the Nifty MidSmall India Consumption Total Return Index.
The scheme will be benchmarked against Nifty MidSmall India Consumption Total Return Index.
The scheme will allocate 95-100% in constituents of Nifty MidSmall India Consumption Index and 0-5% in units of liquid schemes and Money Market instruments.
The four schemes are suitable for investors who are seeking returns that correspond to the returns of the underlying index, subject to tracking error and want long term capital growth.