India's First Ever Nifty 500 Momentum 50 Index Fund Launched by Motilal Oswal Mutual Fund
Motilal Oswal launched the Nifty 500 Momentum 50 Index Fund, aiming to replicate the Nifty 500 Momentum 50 Total Return Index.
Motilal Oswal Mutual Fund launched the Nifty 500 Momentum 50 Index Fund on September 4, 2024. This fund is an open-ended index fund designed to track the performance of the Nifty 500 Momentum 50 Total Return Index. The fund aims to provide returns that align with the index, subject to tracking error. Investors can subscribe to the fund with a minimum investment of ₹500. The new fund offer (NFO) period will close on September 18, 2024.
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Objective of the Scheme
The primary objective of the Motilal Oswal Nifty 500 Momentum 50 Index Fund is to deliver returns that correspond to the total returns of the Nifty 500 Momentum 50 Total Return Index, before expenses. The fund does not guarantee the achievement of the investment objective, as the returns are subject to market movements and tracking error.
Fund Allocation
The allocation strategy of the fund involves investing 95 per cent to 100 per cent of its net assets in the constituents of the Nifty 500 Momentum 50 Index. The remaining 0 per cent to 5 per cent of assets may be allocated to units of liquid schemes and money market instruments.
Benchmark
The fund's performance will be benchmarked against the Nifty 500 Momentum 50 Total Return Index.
Peer Funds
|
Scheme Name
|
AUM
(Crore)
|
Expense Ratio
(per cent)
|
|
UTI Nifty 200 Momentum
30 Index Fund
|
7637.1
|
0.92
|
|
Motilal Oswal Nifty 200
Momentum 30 Index
|
765.87
|
1
|
|
ICICI Pru Nifty 200
Momentum 30 Index
|
397.46
|
0.99
|
|
Kotak Nifty 200 Momentum
30 Index Fund
|
295.29
|
0.9
|
|
Bandhan Nifty 200
Momentum 30 Index Fund
|
130.52
|
1.07
|
Data As of September 3, 2024.
Fund Management
The fund is managed by Swapnil Mayekar and Rakesh Shetty. Swapnil brings over 13 years of experience in fund management, while Rakesh has over 14 years of experience in trading equity, debt, and exchange-traded funds.
Conclusion
The Motilal Oswal Nifty 500 Momentum 50 Index Fund is designed for investors seeking capital growth by replicating the performance of the Nifty 500 Momentum 50 Index, with the potential for tracking error impacting returns.