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- Mumbai 02 Dec 2010
Motilal Oswal Mutual Fund Files For India’s 1st Midcap ETF Based On The ‘CNX Midcap index’
2010-12-02 Mumbai
Mumbai, 2 December, 2010: Motilal Oswal Asset Management Company Ltd has announced the filing of the draft Scheme Information Document (SID) with SEBI for the Motilal Oswal MOSt Shares Midcap ETF (MOSt Shares Midcap), an open ended index ETF, which seeks to track the CNX Midcap Index.
This ETF will be India’s first exchange traded fund (ETF) which tracks the performance of the Midcap segment of the broader stock market, once it is approved by the Indian regulators.
“MOSt Shares Midcap ETF provides investors with a risk-diversified access to India’s most promising medium capitalization companies – today’s high growth and tomorrow’s opportunity” said Mr. Nitin Rakesh, CEO and MD, Motilal Oswal AMC.
With the filing of MOSt Shares Midcap ETF, once approved, Motilal Oswal AMC will be well on its way to providing investors with more risk mitigation options via diversification.
About Motilal Oswal Asset Management Company
Motilal Oswal Asset Management Company is registered with SEBI as the Investment Manager to Motilal Oswal Mutual Fund It was incorporated on November 14, 2008. MOAMC is a 100% subsidiary of Motilal Oswal Securities Limited.
About Motilal Oswal Financial Services Ltd
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 1,504 business locations spread across 591 cities and the online channel to over 666,633 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.
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 units issued under 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 MIDCAP ETF (MOSt Shares MIDCAP ETF) is 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. Please read the Scheme Information Document (SID) & Statement of Additional Information (SAI) carefully before investing.
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 Ltd. Investment Manager: Motilal Oswal Asset Management Company Ltd. Sponsor: Motilal Oswal Securities Ltd.