Stocks

Motilal Oswal MF to launch ETF tracking NASDAQ-100 Index

PTI Mumbai | Updated on March 10, 2011 Published on March 10, 2011

Motilal Oswal Mutual Fund on Thursday announced the launch of MOSt Shares Nasdaq 100, India’s 1st US equity based ETF, which seeks to track the Nasdaq-100 index.

The NASDAQ Stock Market is the largest electronic screen-based equity securities trading market in the United States and second largest by market capitalisation in the world. The NASDAQ-100 is an index of 100 of the largest (by market capitalisation) non-financial companies listed on the NASDAQ.

With the launch of Motilal Oswal Mutual Fund’s MOSt Shares Nasdaq 100 fund offer, Indian investors will now have an exposure to top 100 domestic and international non-financial securities like Apple Inc, Google, Microsoft, Ebay and Amazon listed on the Nasdaq stock market.

MOSt Shares Nasdaq 100 will be listed on the NSE and BSE and investors will be able to buy or sell MOSt Shares NASDAQ 100 from NSE or BSE through their trading accounts with their brokers/sub-brokers at prices quoted on NSE or BSE.

The minimum investment amount during the NFO is Rs 10,000 and in multiples of Re 1 thereafter. The new fund offer will be open for subscription from March 16 and closes on March 23.

For all the investment applications received during the NFO period, MOSt Shares NASDAQ 100 units will be allotted to investors at a price approximately equal to 1/1000th of the closing value of NASDAQ-100 Index available on the allotment date (Indian Standard Time).

Published on March 10, 2011
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