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- Mumbai 17 Nov 2011
Motilal Oswal Mutual Fund Launches Motilal Oswal MOST 10 Year Gilt Fund–India’s First Fund To Provide Access To The 10 Year Benchmark G-Sec By Investing 90-100% In 10 year G-Secs.
2011-11-14 Mumbai
Motilal Oswal Asset Management Company Ltd. has announced the launch of Motilal Oswal MOSt 10 Year Gilt Fund, an open ended Gilt Scheme, giving the investors access to highly liquid and representative part of the G-Sec market, the 10 Year Benchmark GOI Dated Security. MOSt 10 Year Gilt Fund is India’s First fund to open access to the 10 Year G-sec for retail investors by investing 90-100% of the corpus in 10 Year G-Secs only.
MOSt 10 Year Gilt Fund proposes to (1) Invest in the 10 year Benchmark G-Sec (currently 8.79% 2021 G-Sec) with no discretion with fund manager on duration / maturity, and (2) Emulate the risk and returns on the 10 year Benchmark G-Sec.
MOSt 10 Year Gilt Fund will primarily invest in 10 year Benchmark Government Security: 90%-100%; other Government Securities (7 to 12 years), T Bills, Cash Management Bills, CBLO and Repo: 0-10%. The Fund would also invest maximum amount in the 10 year Benchmark G-Sec as it is highly liquid paper in the entire G-Sec market. It also helps to align the performance of the fund with the 10 year Benchmark G-Sec.
On the event of the launch of MOSt 10 Year Gilt Fund, Mr. Nitin Rakesh, MD & CEO, Motilal Oswal Asset Management Company Ltd. said, “in the continuation of Motilal Oswal AMC's focus on bringing innovative products to market, we have opened up the access to the Benchmark G-Sec for investors. With this Fund, investors now have a pure-play on the interest rate cycle as well as a long term asset allocation product. As interest rate cycle may peak in the near future, this could be a good time to take an exposure to G-Secs, and the 10-Yr G-Sec is the most optimal exposure, as investors may stand to gain from capital appreciation. ”
MOSt 10 Year Gilt Fund, is an open ended fund structure with two plans: Dividend & Growth. The New Fund Offer (NFO) will be open for subscription from 21st November 2011 to 5th December 2011. The minimum subscription amount is Rs 10,000/- and additional investment of Rs. 1000 & multiples of Re. 1/- thereafter. The Total Expense Ratio is 0.99% (Proposed). The fund manager of the scheme is Mr. Abhiroop Mukherjee.
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 1,538 business locations spread across 563 cities and the online channel to over 732,173 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
For more information please contact:
EDS Table
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- Alpesh Nakrani / Anirudh Rajan Paradigm Shift Public RelationsMob: +91 9869121167 / +91 9892343828Tel: +91 22 22813797 / 98
- Mr. Hari KrishnanMotilal Oswal AMC 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: Motilal Oswal MOSt 10 Year Gilt Fund (MOSt 10 Year Gilt Fund), an open ended gilt scheme Investment Objective: The primary investment objective of the Scheme is to generate credit risk-free returns by investing in a portfolio of securities issued by the Central Government and State Government. Asset Allocation: 10 yr Benchmark Government Security: 90%-100%; Other Government Securities (7 to 12 years), T-Bills, Cash Management Bills, CBLO & Repo: 0-10%. Load: Entry Load: Nil Exit Load: 0.50% for exit within 3 months Terms of Issue: Minimum Application Amount: During NFO& ongoing basis: Rs. 10,000/- and in multiples of Re. 1/-thereafter. Face Value & Issue Price: Offer of units of Rs. 10/- per unit during the New Fund Offer and at NAV based prices on ongoing basis. Investor Benefits and General Services: During NFO,Investors can also subscribe to the units through the mutual fund trading platforms viz. BSE StAR MF of Bombay Stock Exchange Limited (BSE) and Mutual Fund Service System (MFSS) of NSE. The AMC will calculate and publish the first NAV of the Scheme not later than 30 days from the closure of the NFO. Subsequently, the NAVs will be calculated and disclosed at the close of every Business Day. Risk Factors: (1) All the 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 10 Year Gilt Fund (MOSt 10 Year Gilt Fund) 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. Scheme Specific Risk Factors: The 10 yr Benchmark Government Bond is the most liquid security in the entire Government Bond market, presently it alone constitutes about 80%-90% of the entire volume of the Government Bond market. The 10 yr Benchmark however changes every year as there is a new 10 yr Benchmark Government Bond issued by the RBI as the existing one becomes a 9 yr residual maturity paper, hence the market exits from the existing paper and the focus shifts to the new 10 yr Benchmark Government Bond. 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 along with 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 Investors can also contact us on our toll free number 1800-200-6626 or send email at mfservice@motilaloswal.com