MOSt Shares M50 ETF lists on NSE today
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The New Fund Offer (NFO) which was open for subscription from June 30, 2010 till July 19, 2010 raised over Rs 235 crores, making it the largest amount raised during the NFO by any equity ETF in the past 5 years. (Data source: Value Research Online.com).
Speaking on the occasion, Mr. Raamdeo Agrawal- Director, MOAMC said- "M50 is a next generation Mutual Fund product. The active thinking in the designing of the product and passive execution tries to combine the best investment principles of Focus & Discipline. This product is highly investor friendly with potential of superior returns."
MOSt Shares M50 NFO got a tremendous response from investors. It had higher retail participation than institutional participation. Perhaps the first time; BSE STAR and NSE MFSS platforms were open from 9am to 11pm even on Sunday(18th July 2010).
Mr. Nitin Rakesh- Managing Director & CEO, MOAMC said – "We are very enthused by the outcome of our NFO - it shows that there is demand for differentiated products that offer investor friendly features, especially low costs, real time prices and transparency"
About MOSt Shares M50
MOSt Shares M50 is an open ended Exchange Traded Fund (ETF), which seeks investment return that corresponds (before fees and expenses) generally to the performance of the MOSt 50 Basket (Underlying Basket), subject to tracking error. MOSt 50 Basket is a fundamentally weighted basket based on S&P CNX Nifty Index. The constituents of MOSt 50 Basket will be the same as the constituents of Nifty. The MOSt 50 Basket passively allocates weights to its constituents at the time of rebalancing based on the pre-defined methodology of the basket. Weights assigned to constituents are dependent on their fundamental performance and their prices with higher weights being assigned to constituents which have demonstrated superior financial performance and have reasonable valuation.
MOSt 50 Basket has been designed by Motilal Oswal Asset Management Company Ltd. (MOAMC) which owns the intellectual property of the methodology of the Basket. MOSt Shares M50 would invest in securities constituting the MOSt 50 Basket in same proportion as in the Basket.
IISL Disclaimer: The MOSt 50 Basket is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited (IISL). MOSt 50 Basket has been developed by MOAMC and IISL has calculated and maintained as per the specifications and requirements of MOAMC. IISL does not make any representation or warranty, express or implied regarding the advisability of investing in the products linked to MOSt 50 Basket and availing the services generally or particularly or the ability of MOSt 50 Basket to track general stock market performance in India. Please read the full Disclaimers in relation to the MOSt 50 Basket in the Scheme Information Document. S&P Disclaimer: "S&P®" and "Standard and Poor's®" are trademarks of S&P, and have been licensed for use by India Index Services & Products Limited in connection with the S&P CNX Nifty Index. MOSt Shares M50 is not sponsored, endorsed, sold or promoted by India Index Services & Products Limited ("IISL") or Standard & Poor's ("S&P"), a Delaware limited liability company. Neither IISL nor S&P makes any representation or warranty, express or implied, to the owners of MOSt Shares M50 or any member of the public regarding the advisability of investing in securities generally or in MOSt Shares M50. Please read the full Disclaimers in relation to the S&P CNX Nifty 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 are available at the office of the AMC, R&T, Distributors, or can be downloaded from www.motilaloswal.com/
For more information please contact:
Alpesh Nakrani / Anirudh Rajan
Paradigm Shift Public Relations
Mob: +91 9869121167 / +91 9892343828
Tel: +91 22 22813797 / 98Mr. Hari Krishnan
Motilal Oswal Asset Management Company Ltd
Mob: +91 9820520392
Ph: +91 22 39825500