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Business EconomyPosted at: Apr 15 2020 12:41PM


Amidst lockdown, Motilal Oswal launches Motilal Oswal S&P 500 Index Fund

Kolkata, Apr 15 (UNI) Motilal Oswal Asset Management Company Ltd. has announced
the launch of the Motilal Oswal S&P 500 Index Fund, an open ended scheme replicating /
tracking US’s S&P 500 Index.
Motilal Oswal S&P 500 Index Fund will provide an opportunity to invest in one of the
world’s most popular indices. The fund will provide Indian investors an exposure to the
performance of leading 500 companies listed in United States.
The S&P 500 Index is widely regarded as the best single gauge of large-cap U.S.
equities and covers approximately 80% of available market. The S&P 500 Index is
world’s largest index with a track record of 63 years, making it one of the oldest
indices in the world.
Aashish Somaiyaa, Managing Director & CEO, Motilal Oswal Asset Management
Company said, “If you entered the Indian equity markets and you had no clue where
to start you would start with the A group in BSE, similarly if you entered the Global
equity markets from another planet and you had no clue where to start you would
start with S&P 500. It’s 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 AMC are happy
to provide access”
The S&P 500 index is the best gauge of the US market as it constitutes 82% of the
US stock market. It has exposure to all 11 sectors and has exposure to purely large
cap companies. It is a global index with 40% of its investments coming from overseas.
After recent correction, S&P 500 Index may have arrived at an attractive valuation to
enter.
Pratik Oswal, Head of Passive Funds, Motilal Oswal Asset Management Company
said, “With the launch of the S&P500 index fund - we are excited to have Jack Bogle's
legacy and spirit in India (Founder, Vanguard Mutual Fund). It’s a fund that is present
in almost every investor’s portfolio in the US 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.”
“We are excited that Motilal Oswal has launched a fund based on the S&P 500 Index
to provide Indian investors’ access to global companies in a diverse range of sectors and
industries. The S&P 500 is one of the world’s most recognized and premier gauges for
U.S. stock market performance. S&P Dow Jones Indices is committed to offering choice
and delivering independent and transparent indices, research, data and analytics to
market participants,” said Koel Ghosh, Head of South Asia, S&P Dow Jones Indices.
Motilal Oswal S&P 500 Index Fund will be launched on April 15 and will remain open
for subscription till April 23. The minimum application amount is Rs 500 and in multiples
of Re. 1 thereafter. The fund manager of the scheme is Herin Visaria for foreign
securities and for Debt component - Abhiroop Mukherjee.
UNI BM
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Tags: #Amidst lockdown# Motilal Oswal launches Motilal Oswal S&P 500 Index Fund
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