MOSt Shares NASDAQ 100 Press Release
Motilal Oswal Mutual Fund launches MOSt Shares NASDAQ 100 - India’s first US Equities based ETF tracking the NASDAQ-100 Index®
Mumbai, 10th March, 2011: Motilal Oswal Asset Management Company Ltd. has announced the launch of Motilal Oswal MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ 100), an open ended index ETF, which seeks to track the NASDAQ-100 Index®. This will be India’s first US Equities based exchange traded fund (ETF) tracking the NASDAQ-100 Index®.
MOSt Shares NASDAQ 100 will provide Indian investors with an exposure to top 100 domestic and international non-financial securities listed on The NASDAQ Stock Market® based on market capitalization.
The NASDAQ-100 Index® is made up of the 100 largest non-financial companies listed on The NASDAQ Stock Market®. The NASDAQ 100-Index is developed and maintained by The NASDAQ OMX Group, the world's largest exchange company.
With the surge in popularity of technology stocks, the NASDAQ-100 Index® has become the premier benchmark for high-tech investors as well as one of the most followed indexes in the world.
On the event of the launch of MOSt Shares NASDAQ 100, Mr. Nitin Rakesh, MD & CEO, Motilal Oswal Asset Management Company Ltd said, “We are pleased to introduce to the Indian investors another unique, first of its kind ETF. Motilal Oswal MOSt Shares NASDAQ-100 ETF provides a good diversification option and access to leading global companies listed on the NASDAQ Stock Market”
Investing in the ETF does not impact overseas investment limits and is treated at par with all Indian mutual fund investments while trading like a share on Indian stock exchanges.
Speaking about the MOSt Shares NASDAQ 100, Mr.Raamdeo Agrawal, Director, Motilal Oswal Asset Management Company Ltd said, “Investing is going to become increasingly global. MOSt Shares NASDAQ 100 is logically the first place to look for high quality growth.”
MOSt Shares NASDAQ 100 will be listed on the NSE and BSE. The New Fund Offer (NFO) will be open for subscription from 16th of March 2011 till 23rd of March 2011. The minimum investment amount during the NFO is ` 10,000/- and in multiples of ` 1/- thereafter. The fund manager of the scheme is Mr. Rajnish Rastogi CFA.
Speaking on the occasion, Mr.John Jacobs, Executive Vice President, NASDAQ OMX said, “We are happy to be associated with Motilal Oswal Asset Management Company and the launch of Motilal Oswal MOSt Shares NASDAQ-100 ETF. India is an important global market for us and we see the inception of MOSt Shares NASDAQ 100 as a seminal event which provides Indian investors with access to international and innovative products”
About Motilal Oswal Asset Management Company
Motilal Oswal Asset Management Company is registered with SEBI as the Investment Manager to Motilal Oswal Mutual Fund It was incorporated on November 14, 2008. MOAMC is a 100% subsidiary of Motilal Oswal Securities Limited.
About Motilal Oswal Financial Services Ltd
Motilal Oswal Financial Services Ltd. (NSE :MOTILALOFS, BSE :532892, BLOOMBERG : MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,568 business locations spread across 595 cities and the online channel to over 693,978 registered customers. MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions. MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in the Asia Money Brokerage Polls for India. In the StarMine India Broker Rankings 2009 from Thomson Reuters, we won awards in 3 out of 4 categories and also bagged the No. 1 Broker Award in the ET Now – StarMine Analyst Awards 2009. We were also adjudged as the ‘Best Performing Equity Broker (National)’ at the CNBC TV18 Financial Advisors Awards – 2010.
For more information please contact: Alpesh Nakrani / Anirudh Rajan
Paradigm Shift Public Relations
Mob: +91 9869121167 / +91 9892343828
Tel: +91 22 22813797 / 98
Mr. Hari Krishnan
Motilal Oswal AMC Ltd
Mob: +91 9820520392
Ph: +91 22 39825500
Statutory Details: Constitution: Motilal Oswal Mutual Fund has been set up as a trust under the Indian Trust Act, 1882. Trustee: Motilal Oswal Trustee Company Limited. Investment Manager: Motilal Oswal Asset Management Company Ltd. Sponsor: Motilal Oswal Securities Ltd. Scheme Classification & Investment Objective: Motilal Oswal MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ 100), an open ended Index Exchange Traded Fund that seeks investment return that corresponds (before fees and expenses) generally to the performance of the NASDAQ-100 Index, subject to tracking error. Asset Allocation: Securities constituting NASDAQ-100 Index: 95%-100%; Overseas Debt and Money market instruments and cash at call, mutual fund schemes or exchange traded funds based on NASDAQ-100 Index: 0-5%. Load: Entry Load: Nil Exit Load: Nil Terms of Issue: Minimum Application Amount: During NFO, Rs.10,000/- and in multiples of Re.1/- each. Ongoing Basis, On the Exchange: The units of the Scheme are proposed to be listed on the Capital Market Segment of National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange Ltd. (BSE). On the Exchange, the units of the Scheme can be purchased/sold in minimum lot of 1 unit and in multiples thereafter. Directly with the Fund: The minimum number of units of the Scheme that investors can create/redeem in exchange of portfolio deposit and cash component is 100,000 units and in multiples thereof. Face Value & Issue Price: Offer of units having face value of Rs. 10/- per unit for cash at a premium approximately equal to the difference between the face value of Rs. 10/- each and allotment price i.e. 1/1000th of the value of NASDAQ-100 Index during the New Fund Offer and at NAV based prices during continuous offer. Investor Benefits and General Services: During continuous offer, sale and redemption of units of the Scheme would be at NAV based prices on all business days. NAVs to be declared on all business days. Risk Factors: (1) All Mutual Funds and securities investments are subject to market risks and there can be no assurance that the Scheme’s objectives will be achieved (2) As the price/value/interest rates of the securities in which the Scheme invests fluctuates, the Net Asset Value (NAV) of the Scheme may go up or down depending upon the factors and forces affecting the securities market (3) Past performance of the Sponsor/AMC/Mutual Fund and its affiliates does not indicate the future performance of the Scheme and may not provide a basis of comparison with other investments (4) Motilal Oswal MOSt Shares NASDAQ-100 ETF (MOSt Shares NASDAQ 100) is only the name of the Scheme and does not in any manner indicate either the quality of the Scheme, its future prospects and returns. Investors are therefore urged to study the terms of offer carefully and consult their Investment Advisor before they invest in the Scheme (5) The Sponsor is not responsible or liable for any loss or shortfall resulting from the operation of the Mutual Fund beyond the initial contribution made by it of an amount of Rs.100,000 towards setting up of the Mutual Fund (6) The present Scheme is not a guaranteed or assured return Scheme. (7) Investment in the scheme shall be subject to various other risk factors including but not limited to risk associated with investment in foreign securities, derivatives, currency risk, exchange rate risk, tracking error risk, etc. Please read the Scheme Information Document (SID) & Statement of Additional Information (SAI) carefully before investing. A copy of SID, SAI and KIM along with the application form is available at the office of the AMC, R&T, Distributors, or can be downloaded from www.motilaloswal.com/assetmanagement and www.mostshares.com.
Disclaimer of NASDAQ-100: NASDAQ®, OMX®, NASDAQ OMX®, NASDAQ-100®, and NASDAQ-100 Index®, are registered trademarks of The NASDAQ OMX Group, Inc. (which with its affiliates is referred to as the “Corporations”) and are licensed for use by MOAMC. MOSt Shares NASDAQ 100 (the Product) has not been passed on by the Corporations as to their legality or suitability. The Product are not issued, endorsed, sold, or promoted by the Corporations. THE CORPORATIONS MAKE NO WARRANTIES AND BEAR NO LIABILITY WITH RESPECT TO THE PRODUCT.