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- Mumbai 22 Feb 2012
Motilal Oswal Launches MOST Gold Shares-Now Get Gold At A Lower Price!
2012-02-21Mumbai
Mumbai, 21 February, 2012: Motilal Oswal Mutual Fund announced the launch of Motilal Oswal MOSt Shares Gold ETF (MOSt Gold Shares), an open ended exchange traded fund that invests in gold bullion. Continuing with the tradition of creating ‘India’s first’ products, MOSt Gold Shares is India’s 1st Gold ETF of its kind which seamlessly enables Investment as well as Consumption of Gold for Retail Investors.
The NAV of the MOSt Gold Shares unit will track spot price of 1 gm of gold. Valued at spot gold bullion prices, investors can get pure imported Gold at a price lower than any other option in the market by redeeming the ETF units for physical gold bars in as low as 10 grams across 22 cities in India. It will provide investors a means of participating in the gold bullion market and take physical delivery of gold when needed. This makes MOSt Gold Shares stand apart from others.
MOSt Gold Shares is supported by RiddiSiddhi Bullions Limited (RSBL), as Primary Authorized Participants & Market Makers. RSBL is one of the largest bullion dealers in India. It runs RSBL Spot, one of the most successful gold and silver trading OTC systems in the world. These prices are the benchmark in the professional bullion markets across India.
Speaking on the occasion, Mr. Nitin Rakesh, CEO, Motilal Oswal AMC said, “MOSt Gold Shares is a unique offering as it offers the best of both worlds – investment cum consumption - in a very cost effective way, you can get gold at lower price!”
“RSBL and Motilal Oswal has tried to meet the needs of all Indians wanting to have gold in their portfolio - whether as an investment or as physical. This product has everything for a consumer - effective pricing, assurance in purity and weight of LBMA listed refiner bars and tax efficiency.” said Mr. Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL).
MOSt Gold Shares will be listed on the NSE and BSE. The New Fund Offer (NFO) will be open for subscription from 2nd of March 2012 till 16th of March 2012. The minimum investment amount during the NFO is INR 10,000 and in multiples of INR 1 each thereafter. The fund manager of the scheme is Mr. Rajnish Rastogi. The investment objective of the Scheme is to provide return by investing in Gold Bullion. The performance of the fund will be benchmarked to the Spot Gold Price. All gold bullion held in the scheme’s allocated account with the custodian shall be of finesse (or purity) of (99.5%) or higher.
About Motilal Oswal Asset Management Company Limited (MOAMC)
Motilal Oswal Asset Management Company Ltd. (AMC) is a public limited company incorporated under the Companies Act, 1956 on November 14, 2008. Motilal Oswal Asset Management Company Ltd. has been appointed as the Investment Manager to Motilal Oswal Mutual Fund.
About Motilal Oswal Financial Services Limited
Motilal Oswal Financial Services Ltd. (NSE: MOTILALOFS, BSE: 532892, BLOOMBERG: MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,563 business locations spread across 555 cities and the online channel to over 738,156 registered customers. MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions. MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in the Asia Money Brokerage Polls for India. In the StarMine India Broker Rankings 2009 from Thomson Reuters, we won awards in 3 out of 4 categories and also bagged the No. 1 Broker Award in the ET Now – StarMine Analyst Awards 2009. We were adjudged as the ‘Best Performing Equity Broker (National)’ at the CNBC TV18 Financial Advisors Awards 2010. MOSL won 4 awards in the ET-Now Starmine Analyst Awards 2010-11, placing it amongst the Top-3 award winning brokers, was ranked No. 2 by AsiaMoney Brokers Poll 2010 in the Best Local Brokerage Category and won the ‘Best Market Analyst’ Award for 2 sectors at the India’s Best Market Analyst Awards 2011. Our mutual fund product, M-50 ETF bagged the ‘Most Innovative Fund of the Year’ award at the CNBC TV18 CRISIL Mutual Funds Awards 2011. MOFSL won awards for Excellence in HR through Technology and Excellence in Healthcare at Asia’s Best Employer Brand Awards 2011 in Singapore, and the ‘Best Capital Markets and Related NBFC’ award at the CNBC TV18 Best Banks and Financial Institutions Awards 2011. MOSL also won the ‘Best Equity Broking House’ award for FY11 at the Dun & Bradstreet Equity Broking Awards 2011.
About RSBL
RiddiSiddhi Bullions Limited (RSBL) is one of India's largest bullion dealers in the country with more than $5bn annual sales. RSBL's Spot Precious-metals Online Trading (SPOT) is India's most successful over the counter bullion trading system with more than 2000 members across the country. It is one of the few nominated agencies and Associate Member of the London Bullion Market Association (LBMA) from India. It has been listed among the top few unlisted companies in India by BS 1000 since the last 8 years.
Disclaimers:
Statutory Details: Constitution: Motilal Oswal Mutual Fund has been set up as a trust under the Indian Trust Act, 1882. Trustee: Motilal Oswal Trustee Company Limited. Investment Manager: Motilal Oswal Asset Management Company Ltd. Sponsor: Motilal Oswal Securities Ltd. Scheme Name & Classification: Motilal Oswal MOSt Shares Gold ETF (MOSt Gold Shares), an open ended Exchange Traded Fund. Investment Objective: The investment objective of the Scheme is to provide return by investing in Gold Bullion. The performance of the fund will be benchmarked to the Spot Gold Price. However, the performance of scheme may differ from that of the underlying index due to tracking error. There can be no assurance or guarantee that the investment objective of the Scheme would be achieved. Asset Allocation: Gold Bullion: 95%-100%; Government Securities, Money Market Instruments and cash at call: 0-5%. Load: Entry
Load: Nil Exit Load: Nil Terms of Issue: Minimum Application Amount: During NFO, Rs. 10,000/- and in multiples of Re. 1/- each. Ongoing Basis, On the Exchange: The units of the Scheme are proposed to be listed on the Capital Market Segment of National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange Ltd. (BSE). On the Exchange, the units of the Scheme can be purchased/sold in minimum lot of 1 unit and in multiples thereafter. Directly with the Fund: Investors can buy/sell units of the Scheme in creation unit size of 10 units (10 gms) and multiples of 10 units (10 gms) thereof. The scheme offers only redemption in kind (physical delivery of gold) directly with the fund. Face Value & Issue Price: The units being offered will have a face value of Rs. 10/- each. Units will be issued at a premium equivalent to difference between allotment price and the face value of Rs. 10/-. Investor Benefits and General Services: During continuous offer, sale and redemption of units of the Scheme would be at NAV based prices on all business days. NAVs to be declared on all business days. Risk Factors: (1) All Mutual Funds and securities investments are subject to market risks and there can be no assurance that the Scheme’s objectives will be achieved (2) As the price/value/interest rates of the securities in which the Scheme invests fluctuates, the Net Asset Value (NAV) of the Scheme may go up or down depending upon the factors and forces affecting the securities market (3) Past performance of the Sponsor/AMC/Mutual Fund and its affiliates does not indicate the future performance of the Scheme and may not provide a basis of comparison with other investments (4) Motilal Oswal MOSt Shares Gold ETF (MOSt Gold Shares ) is only the name of the Scheme and does not in any manner indicate either the quality of the Scheme, its future prospects and returns. Investors are therefore urged to study the terms of offer carefully and consult their Investment Advisor before they invest in the Scheme (5) The Sponsor is not responsible or liable for any loss or shortfall resulting from the operation of the Mutual Fund beyond the initial contribution made by it of an amount of Rs. 1 Lac towards setting up of the Mutual Fund (6) The present Scheme is not a guaranteed or assured return Scheme. (7) Investment in the scheme shall be subject to various other risk factors including but not limited to risk associated with investment in Gold, currency risk, exchange rate risk, tracking error risk, etc. Disclaimer of NSE: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Scheme Information Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Scheme Information Document. The investors are advised to refer to the Scheme Information Document for the full text of the Disclaimer Clause of NSE. Disclaimer of BSE: It is to be distinctly understood that the permission given by Bombay Stock Exchange Ltd. should not in any way be deemed or construed that the SID has been cleared or approved by Bombay Stock Exchange Ltd. nor does it certify the correctness or completeness of any of the contents of the SID. The investors are advised to refer to the SID for the full text of the Disclaimer Clause of the Bombay Stock Exchange Ltd. For further Scheme Specific Risk Factors & other details, Please read the Scheme Information Document (SID) & Statement of Additional Information (SAI) carefully before investing. A copy of SID, SAI and KIM alongwith the application form are available at the office of the AMC, R&T, Distributors, or can be downloaded from www.motilaloswal.com/assetmanagement and www.mostshares.com.