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- Mumbai 10 Jan 2011
Motilal Oswal Mutual Fund Launches MOST Shares M100 ETF - India’s First Midcap ETF; Based On CNX Midcap Index
2011-01-10 Mumbai
Mumbai, January 10, 2010: Motilal Oswal Asset Management Company Ltd. has announced the launch of Motilal Oswal MOSt Shares Midcap 100 ETF (MOSt Shares M100), an open ended Index Exchange Traded Fund which seeks to track the CNX Midcap Index. This Midcap ETF is India’s first exchange traded fund (ETF) which tracks the performance of the Midcap segment of the broader stock market.
Speaking at the launch of Motilal Oswal Mutual Fund’s second product, Mr. Nitin Rakesh, MD & CEO said, “We are excited to bring a brand new product to market – MOSt Shares M100 will be a 1st of its kind access into a midcap basket and will provide all categories of advisors & investors the ability to allocate assets to midcaps as a segment”. MOSt Shares M100 is the second offering and also second ‘India’s First’ product from the stable of Motilal Oswal Mutual Fund, in line with Motilal Oswal AMC’s endeavor to launch such specialized first of their kind products.
MOSt Shares M100 ETF will be listed on the NSE. The minimum investment amount during the NFO is ` 10,000 and in multiples of ` 1 thereafter. On an ongoing basis, on the exchange, the units of the Scheme can be bought/sold in round lot of 1 unit. The fund manager of the scheme is Mr. Rajnish Rastogi.
The New Fund Offer (NFO) will be open for subscription from January 12, 2011 and will be closed on January 24, 2011.
About MOSt Shares M100
Motilal Oswal MOSt Shares Midcap 100 ETF is an open ended Index ETF that seeks investment return that corresponds (before fees and expenses) to the performance of the CNX Midcap Index, subject to tracking error. The Scheme will invest in the securities which are constituents of CNX Midcap Index in the same proportion as in the Index.
During NFO, Investors can apply online on BSE Star Platform or on MFSS platform of NSE through their share broker/sub-brokers or by physical application through any Mutual Fund distributor. They can also apply directly to Motilal Oswal AMC through physical applications.
On an ongoing basis, MOSt Shares M100 will be listed on NSE and investors will be able to buy or sell MOSt Shares M100 from NSE through their trading accounts with their brokers/sub-brokers at prices quoted on NSE.
Large investors can subscribe/redeem directly with the Fund only in creation unit size i.e. 2,50,000 units.
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. MOFSL was honoured with the Best Performing Equity Broker (National) Award at CNBC TV18 Financial Advisor Awards 2010.
For more information please contact:
EDS Table
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- Alpesh Nakrani / Anirudh Rajan Paradigm Shift Public RelationsMob: +91 9869121167 / +91 9892343828 Tel: +91 22 22813797 / 98
- Mr. Hari KrishnanMotilal Oswal Asset Management Company LtdMob: +91 9820520392Ph: +91 22 39825500
Disclaimer:
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 Classification & Objective: Motilal Oswal MOSt Shares Midcap 100 ETF (MOSt Shares M100), an open ended Index Exchange Traded Fund that seeks investment return that corresponds (before fees and expenses) to the performance of CNX Midcap Index (Underlying Index), subject to tracking error. Asset Allocation: Securities constituting CNX Midcap Index: 95%-100%; Debt and 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 on National Stock Exchange (NSE). On NSE, the units of the Scheme can be purchased/sold in minimum lot of 1 unit and in multiples thereafter. Directly with the Fund:The minimum number of units of the Scheme that investors can create/redeem in exchange of portfolio deposit and cash component is 2,50,000 units and in multiples thereof. Face Value & Issue Price: Offer of units having face value of Rs. 10/- per unit for cash at an allotment price during the New Fund Offer and at NAV based prices during continuous offer. Investor Benefits and General Services: During continuous offer, sale and redemption on all business days at NAV based prices. 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 Midcap 100 ETF (MOSt Shares M100) 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 equities such as trading volumes, settlement risk, liquidity risk, default risk, tracking error risk, including the possible loss of principal, investment in derivatives, etc. IISL Disclaimer: MOSt Shares M100 offered by Motilal Oswal Asset Management Company Limited (MOAMC) or its affiliates is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL) and its affiliates. IISL and its affiliates do not make any representation or warranty, express or implied (including warranties of merchantability or fitness for particular purpose or use) to the owners of MOSt Shares M100 or any member of the public regarding the advisability of investing in securities generally or in the MOSt Shares M100 linked to CNX Midcap Index or particularly in the ability of CNX Midcap Index to track general stock market performance in India. Please read the full Disclaimers in relation to the CNX Midcap Index in the Scheme Information Document. NSE Disclaimer: 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. 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.