» Home » Information » Article Details
 
 

Mutual Funds

 Refer this page to a friend   Print preview

Mutual Fund NFO: MF scheme to allow exposure to financial services sector excluding banks

14-Jul-2022

The fund is an open-ended scheme tracking the total returns of S&P BSE Financials ex Bank 30 Total Return Index and qualifies as a passive fund.

If you are looking to take exposure to the stocks of financial sector companies but without any allocation into bank stocks, here’s a mutual fund scheme to do so. Motilal Oswal Mutual Fund has announced the launch of Motilal Oswal S&P BSE Financials ex Bank 30 Index Fund. It is an open-ended scheme replicating/tracking the total returns of S&P BSE Financials ex Bank 30 Total Return Index and thereby qualifies as a passive fund.

The NFO opens on 14th July 2022 and closes on 22nd July 2022. During NFO investors can invest a minimum of Rs. 500, while on an ongoing basis, one can invest a lump sum or start SIP with a minimum of Rs 500. The fund will be the first of its kind passive fund that aims to provide exposure to the financial services sector, excluding banks. The index will include the top 30 non-banking financial stocks from S&P BSE 250 Large Midcap Total Return Index with a maximum stock weight capped at 15%.

The index will be rebalanced semi-annually in June and December. Currently, the index includes stocks of Housing finance companies, NBFCs, Exchanges, Asset Management Companies, Insurance, Card Payment & Fintech, etc.

Source : Financial Express

Back Top
 
 
Life Insurance
Non-Life Insurance
Mutual Funds
Bonds
Loans
Small Saving
Online Counselling
Insurance Portfolio
e-Greetings
Articles
Calculators
Newsletter