Fund name Motilal Oswal Nifty India Defence Index Fund SEBI category Index fund NFO period June 13-27, 2024 Benchmark Nifty India Defence Total Return Index (TRI) Fund manager(s) Rakesh Shetty and Swapnil Mayekar Exit load 1 per cent if the units are redeemed within 15 days of allotment. Nil thereafter. Tax treatment If the units are sold after a year, a 10 per cent tax will be applicable on gains exceeding Rs 1 lakh. If the units are sold within a year, a 15 per cent tax will be levied.