Motilal Oswal Mutual Fund (MF) has launched the Motilal Oswal Nifty Next 50 Index Fund (MOFNEXT50), an open-ended scheme replicating/ tracking Nifty Next 50 Index. The NFO opens for subscription on December 03, 2019 and closes on December 17, 2019. Entry load is nil and Exit load will be 1%, if redeemed on or before 3 months from the date of allotment and Exit load will be nil, if redeemed after 3 months from the date of allotment. The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.
The scheme’s performance will be benchmarked against Nifty Next 50 Index TRI and its fund manager is Swapnil Mayekar.
The investment objective of the scheme is to seek investment return that corresponds to the performance of Nifty Next 50 Index subject to tracking error.