Motilal Oswal Asset Management Company Ltd has announced the filing of the draft Scheme Information Document (SID) with SEBI for Motilal Oswal MOSt Shares S&P 500 ETF (MOSt Shares SP500), an open ended index ETF, which seeks to track the S&P 500®.
Mumbai, Maharashtra -- (SBWIRE) -- 03/09/2011 -- The S&P 500 includes 500 leading companies in leading industries of the U.S. economy, capturing 75% coverage of U.S. equities.
The S&P 500 is widely regarded as the best single gauge of the large cap U.S. equities market since the index was first published in 1957. The index has over US$ 4.83 trillion benchmarked, with index assets comprising approximately US$ 1.1 trillion of this total.
Speaking on the filing, Mr. Nitin Rakesh, MD & CEO of Motilal Oswal AMC said, “In our continuing endeavour to bring to the Indian investors innovative products, we are happy to announce the filing of Motilal Oswal MOSt Shares S&P 500 ETF for approval. This ETF will provide a cost-efficient, Rupee denominated, diversified exposure to the US stock market with access to household names like United Technologies, Tupperware, Boeing, Coca Cola, Ford, McDonalds, Xerox and Walt Disney.”
“The S&P 500 is the world’s most followed stock market index with more assets directly linked to it than any other index,” says Alexander Matturri, Executive Managing Director at S&P Indices. “We are proud to license our flagship index to Motilal and welcome them to our family of ETF licensees.”
For more information please contact:
Alpesh Nakrani / Anirudh Rajan
Paradigm Shift Public Relations
Mob: +91 9869121167/+91 9892343828
Tel: +91 22 22813797 / 98
Mr. Hari Krishnan
Motilal Oswal AMC
Mob: +91 9820520392
Ph: +91 22 39825500