Motilal Oswal Mutual Fund launched MOSt Shares Nasdaq 100, country's first US equity based exchange-traded fund (ETF), which seeks to track the Nasdaq-100 index.
The new fund offer will be open for subscription from March 16 and closes on March 23. The minimum investment amount during the NFO is Rs 10,000, and in multiples of Re 1 thereafter.
"The first of its kind ETF will provide investors in the country a good diversification option and access to leading global companies listed on the Nasdaq stock market," Motilal Oswal Asset Management Co's Managing Director & CEO Nitin Rakesh told reporters here.
Indian investors will be able to buy and sell ETF units during Exchange trading hours in India, he said.
MOSt Shares Nasdaq 100 will be listed on the NSE and BSE and investors will be able to buy or sell MOSt Shares Nasdaq 100 from both the bourses through their trading accounts with their brokers/sub-brokers at prices quoted on NSE or BSE.
The Nasdaq-100 is an index of 100 of the largest (by market capitalisation) non-financial companies listed on the Nasdaq.With the launch of Motilal Oswal Mutual Fund's MOSt Shares Nasdaq 100 fund offer, Indian investors will now have an exposure to top 100 domestic and international non-financial securities like Apple Inc, Google, Microsoft, Ebay and Amazon listed on the Nasdaq stock market.
