Units were allocated on 3rd July, and the scheme will reopen for further subscription and redemption from 9th July.
Pratik Oswal, Chief of Business Passive Funds
FinTech BizNews Service
Mumbai, 4 July 2024: Motilal Oswal Asset Management Company (MOAMC) is delighted to announce the impressive success of its one-of-a-kind “Motilal Oswal Nifty India Defence Index Fund,” which has collected INR 1,676 crores during the New Fund Offer (NFO) period from 13th June 2024 to 27th June 2024. Units were allocated on 3rd July, and the scheme will reopen for further subscription and redemption from 9th July.
This New Fund Offer has set a new benchmark with the highest-ever collection by an equity index fund. The Motilal Oswal Nifty India Defence Index Fund, a unique offer is India’s first defence index fund that offers exposure to defence stocks listed in India, allowing investors to participate in the significant growth potential of the defence sector.
Prateek Agrawal, MD & CEO, Motilal Oswal Asset Management Company Ltd said, “India’s strides towards Atmanirbharta (Self-Reliance) in defence is paving the way for significant growth and innovation. This fund is a testament of the faith that investors have in Motilal Oswal AMC’s products. This fund is poised to benefit from India's increasingly robust advancements in defence technology and infrastructure, and our investors will be an active part of India’s defence growth story.”
Pratik Oswal, Chief of Business Passive Funds, Motilal Oswal Asset Management Company Ltd said, “We are thankful to the investors for putting their trust in us. The NFO of Motilal Oswal Nifty India Defence Index Fund, marks a significant accomplishment in our journey of offering strategic investments, simplified products and being an enabler with greater reach and participation for investors. We are committed to staying ahead of the curve and delivering innovative solutions.”
The open-ended fund replicating/tracking the total returns of the Nifty India Defence index has appealed to more than 2,48,000 unique investors from across 16,900 pin codes in India, and this is reflected in its granular and well-diversified client base.
MOAMC wishes to extend its heartfelt thanks to all the investors for their overwhelming response and continued trust.
