Motilal Oswal Mutual Fund has launched a new Open Ended Growth scheme named "Motilal Oswal Nifty 500 Momentum 50 ETF" with maturity period of 0 days from the launch date.

The New Fund Offer (NFO) price for the scheme is Rs 10.00 per unit, which will open for subscription from Sep 16 to Sep 18, 2024.

According to the offer document filed with SEBI, the entry and exit load is Nil.

The minimum application amount is Rs 500.00 and in multiples of Rs 1 thereafter. The options available under the plan of the scheme are Growth.

The fund manager of the scheme will be Swapnil Mayekar, while the performance of the scheme will be benchmarked against Nifty500 Momentum 50 Total Return.

The investment objective of the scheme is to provide returns that, before expenses, correspond to the total returns of the securities as represented by Nifty 500 Momentum 50 Total Return Index, subject to tracking error. However, there can be no assurance or guarantee that the investment objectives of the scheme will be achieved.