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Motilal Oswal's Equity ETF Raises Rs 235 crore

It is the largest amount raised by any equity ETF in the past five years

Motilal Oswal Mutual Fund has collected Rs 235 crore from its first fund -- MOSt Shares M50, an open-ended exchange-traded fund (ETF). It is the largest amount raised by any equity ETF in the past five years.

Among all equity ETFs, it is the second largest collection ever. UTI Sunder, which raised Rs 388 crore during its subscription period in in July 2003, is the largest equity ETF in terms of NFO collection.

MOSt Shares M50 is India's first fundamentally weighted ETF based on the Nifty.

The performance of the scheme will be benchmarked against MOSt 50 Index and S&P CNX Nifty Index. MOSt 50 Index is a fundamentally-enhanced index based on S&P CNX Nifty Index (Nifty). The index includes all 50 constituents of the Nifty.

The scheme will allocate 90 to 100 per cent of assets in securities constituting the MOSt 50 Index (which would have medium to high risk profile). The balance up to 10 per cent will be allocated to debt and money market instruments (which would have low to medium risk profile).

Nitin Rakesh, chief executive officer, Motilal Oswal Mutual Fund, told Value Research that the success of the new fund was primarily because of the uniqueness of the fund. “The large distribution network of our parent company, Motilal Oswal, and its already existing customer base also helped us in mopping up a good amount,” he added.

Exchange Traded Funds
Scheme Name  Issue Open  Issue Close  NFO Mobilisation (Rs Cr)  
UTI Sunder 07/07/2003 11/07/2003 388.00 
Motilal Oswal MOSt Shares M50 ETF 30/06/2010 19/07/2010 235.80 
Kotak Nifty ETF 11/01/2010 19/01/2010 112.00 
PSU Bank BeES 24/10/2007 24/10/2007 98.00 
Hang Seng BeES 15/02/2010 24/02/2010 55.00 
Kotak PSU Bank ETF 29/10/2007 02/11/2007 49.53 
Kotak Sensex ETF 07/05/2008 16/05/2008 33.68 
Nifty Benchmark ETS 12/12/2001 18/12/2001 21.00 
ICICI Prudential SPIcE 06/01/2003 09/01/2003 20.57 #
Reliance Banking ETF 12/05/2008 30/05/2008 11.82 #
Liquid Benchmark ETS 01/07/2003 03/07/2003 8.99 #
Banking BeES 25/05/2004 26/05/2004 3.98 #
Quantum Index 09/06/2008 20/06/2008 1.58 
Nifty Junior BeES 06/02/2003 14/02/2003 1.07 #
Shariah BeES 04/02/2009 05/03/2009 1.00 
# In cases where NFO mobilisation was unavailable, we have given the first declared AUM for these schemes