Motilal Oswal Mutual Fund has filed offer document with SEBI to launch an open ended scheme named ‘Motilal Oswal Nifty Smallcap 250 Fund’. The New Fund Offer price is Rs 10 per unit. Entry load will be nil and Exit load will be 1%- If redeemed on or before 3 months from the date of allotment, and it will be Nil- If redeemed after 3 months from the date of allotment. The scheme offers growth options and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked against Nifty Smallcap 250 Index. The minimum application amount for initial purchase is Rs 500 and Re 1 thereafter.
The investment objective of the scheme is to seek investment return that corresponds (before fees and expenses) generally to the performance of the Nifty Smallcap 250 Index (Underlying Index), subject to tracking error.