| Motilal Oswal Mutual Fund has launched a new fund named as Motilal Oswal Nifty Next 50 Index Fund, an open ended scheme replicating / tracking Nifty Next 50 Index. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue will be open for subscription from 03 December to 17 December 2019.
The investment objective of the Scheme is to seek investment return that corresponds to the performance of Nifty Next 50 Index subject to tracking error.
The scheme has two plans: regular plan and direct plan, each plan offers growth option
The scheme would allocate 95%-100% of assets in Equity and equity related securities covered by Nifty Next 50 Index with high risk profile and invest upto 5% of assets would be allocated to Debt, Money Market Instruments, G-Secs, Cash and Cash at call, etc. with low to medium risk profile.
The minimum application amount is Rs 500 and in multiples of Re. 1/- thereafter.
The minimum additional amount is Rs 500 and in multiples of Re. 1/- thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry Load: Nil
Exit Load: 1%- If redeemed on or before 3 months from the date of allotment.
Nil- If redeemed after 3 months from the date of allotment.
Benchmark Index for the scheme is Nifty Next 50 Index TRI.
The fund manager of the scheme is Swapnil Mayekar.
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