Motilal Oswal launches first passive fund tracking S&P 500 Index; will remain open for subscription till 23 April
Motilal Oswal Asset Management Company on Tuesday announced the launch of an open-ended scheme tracking US's S&P 500 Index. The fund will provide an opportunity to invest in one of the world's most popular indices
Mumbai: Motilal Oswal Asset Management Company on Tuesday announced the launch of an open-ended scheme tracking US's S&P 500 Index. The fund will provide an opportunity to invest in one of the world's most popular indices.
It will provide Indian investors exposure to the performance of leading 500 companies listed in the United States.
The S&P 500 Index is widely regarded as the best single gauge of large-cap US equities and covers about 80 percent of the available market. The S&P 500 Index is the world's largest index with a track record of 63 years, making it one of the oldest indices in the world.
"It is the world's A group or the world's large-cap index composed of some of the biggest global companies. And we at Motilal Oswal Asset Management Company are happy to provide access," said Managing Director and CEO Aashish Somaiyaa.
Motilal Oswal S&P 500 Index Fund will be launched on 15 April and will remain open for subscription till 23 April.
Pratik Oswal, Head of Passive Funds at Motilal Oswal Asset Management Company, said the fund that is present in almost every investor's portfolio in the United States and a great way to start the process of international diversification -- helping Indian investors fight rupee depreciation as well as portfolio volatility.
"It was the first-ever passive fund launched (way back in 1975) and the biggest one today," he said in a statement.
Rishab Shetty’s Kantara is unbeatable: Worldwide collection at the box office crosses the monumental mark of 400 Crores
Here is why Rishab Shetty’s Kantara is that cinematic wonder that comes once in a lifetime and goes on to create a rage.
The FIR was lodged on Friday evening at Kotwali Police Station on the complaint of one Sujesh Kumar Sagar, the in-charge of the video surveillance team set up by a poll panel for the Rampur by-election
The policyholder receives 'Sum Assured on Maturity' as lump sum when the policy matures. Tax benefits are offered to the policyholders under this policy as per the Income Tax Act, 1961