Motilal Oswal Mutual Fund has launched a new fund named as Motilal Oswal MOSt Focused Long Term Fund (MOSt Focused Long Term), An open ended Equity Linked Saving Scheme (ELSS) with a 3 year lock-in. The New Fund Offer price is Rs 10 per unit. The new issue will be open for subscription from 26 December 2014 to 15 January 2015.
The investment objective of the scheme is to generate long-term capital appreciation from a diversified portfolio of predominantly equity and equity related instruments.
The scheme offers growth and dividend (payout) options under both regular plan and direct plan.
The scheme shall invest 80-100% in equity & equity related instruments with high risk profile and up to 20% in debt instruments, money market instruments, G-Secs, cash and cash at call, etc with low to medium risk profile.
The minimum application amount is Rs 500 and in multiples of Rs 500 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry and exit load charge will be nil for the scheme.
Benchmark Index for the scheme is CNX 500 Index
The fund managers for the scheme are Gautam Sinha Roy (for equity component) and Abhiroop Mukherjee (for debt component).