Motilal Oswal starts Group SIP for employees

Motilal Oswal Group has started a new systematic investment plan for its employees whereby it will contribute a matching SIP amount in the same scheme to inculcate a culture and discipline of regular investment in equity instruments for wealth creation over the long term.

The primary objective is to inculcate the philosophy of long-term investing in all employees of Motilal Oswal Group, it said in a statement on Monday.

Within one month of opening subscription to MOGSIP over 1,450 employees have opted for the programme. The first month’s SIP was successfully invested on September 5, it said.

While all confirmed and on-roll employees of Motilal Oswal Group companies will be eligible for the Motilal Oswal Group SIP, they have to choose from one of three pure equity mutual fund schemes of Motilal Oswal AMC – Multicap, Midcap or Focused.

The minimum amount for monthly subscription is Rs 500 and there is no upper limit on the employee’s monthly contribution. Although, the company contribution has certain grade-wise caps.

Motilal Oswal, Managing Director, Motilal Oswal Financial Services, said the group has been in equity investment advisory for over three decades, while many employees were not investing in the equity markets.

"When we advise the external world, our own people too should be encouraged to invest in equity markets. This will help them realise how wealth is created through long-term investment in the equity markets," he added.