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- Mumbai 14 Apr 2020
Amidst Lockdown , Motilal Oswal Launches Motilal Oswal S&P 500® Index Fund - India’s First Passive Fund Tracking The S&P 500® Index
Mumbai, 15 April, 2020:Motilal Oswal Asset ManagementCompany Ltd. has announced the launch of the Motilal Oswal S&P 500®Index Fund, an open ended schemereplicating / tracking US’s S&P 500® Index.
Motilal Oswal S&P 500® Index Fund willprovide an opportunity to invest in one of the world’s most popular indices. Thefund will provide Indian investors an exposure to the performance of leading500 companies listed in United States. The S&P 500® Index is widelyregarded as the best single gauge of large-cap U.S. equities and coversapproximately 80% of available market. The S&P 500® Index is world’slargest index with a track record of 63 years, making it one of the oldestindices in the world.
AashishSomaiyaa, Managing Director & CEO, Motilal Oswal Asset Management Company said, “If you entered the Indian equity markets and you had no clue where tostart you would start with the A group in BSE, similarly if you entered theGlobal equity markets from another planet and you had no clue where to startyou would start with S&P 500. It’s the world’s A group or the world’s largecap index composed of some of the biggest global companies. And, we at MotilalOswal AMC are happy to provide access”
The S&P500® index is the best gauge of the US market as it constitutes 82% of theUS stock market. It has exposure to all 11 sectors and has exposure to purelylarge cap companies. It is a global index with 40% of its investments comingfrom overseas. After recent correction, S&P 500® Index may have arrived atan attractive valuation to enter.
Pratik Oswal, Head of Passive Funds, Motilal Oswal AssetManagement Company said, “With the launch of the S&P500 index fund- we are excited to have Jack Bogle''s legacy and spirit in India (Founder,Vanguard Mutual Fund). It’s a fund that is present in almost every investor’sportfolio in the US and a great way to start the process of internationaldiversification – helping Indian investors fight rupee depreciation as well asportfolio volatility. It was the first ever passive fund launched (way back in1975) and the biggest one today.”
“We are excited that MotilalOswal has launched a fund based on the S&P 500 Index to provide Indianinvestors’ access to global companies in a diverse range of sectors andindustries. The S&P 500 is one of the world’s most recognized and premiergauges for U.S. stock market performance. S&P Dow Jones Indices iscommitted to offering choice and delivering independent and transparentindices, research, data and analytics to market participants,” said Koel Ghosh, Head of South Asia, S&PDow Jones Indices
Motilal Oswal S&P 500® Index Fundwill be launched on15April2020 and will remain open for subscription till 23 April 2020. The minimumapplication amount is Rs.500/- and in multiples of Re. 1/- thereafter. The fundmanager of the scheme is Mr. Herin Visaria*for foreign securities and for Debtcomponent - Mr. Abhiroop Mukherjee*.
About Motilal OswalAsset Management Company:
MotilalOswal Group possesses legacy in equities for over 3 decades. Motilal Oswal AssetManagement Company (Motilal Oswal AMC) is registered with SEBI as theInvestment Manager for Motilal Oswal Mutual Fund. It was incorporated onNovember 14, 2008. It provides Investment Management and Advisory Services toinvestors based within and outside India and having Portfolio ManagementServices business, ETFs and Mutual Funds.
MotilalOswal AMC (MOAMC) is one of the most honoured and trusted names in equityinvesting. MOAMC is one of the pioneers of PMS business with over 17 years oftrack record. It is also one of the pioneers of passive funds in India throughETFs way back in 2010, Nifty 50, Nifty Midcap 100, Nasdaq 100 – the onlyoffshore ETF and have exclusive rights for Nasdaq.
MOAMCis one of the fastest growing Asset Management Companies in India with a uniqueinvestment philosophy, ‘Buy Right; Sit Tight’ which means buying qualitycompanies at a reasonable price and Sit Tight to ride their growth cycle for along period of time.
For further detailscontact:
Rohini Kute
Head,Corporate Communication,
MotilalOswal Financial Services
Mob+91 9820196838