14 Dec 2012
|Motilal Oswal Mutual Fund has filed an offer document with Sebi to launch an opened ended Gold Fund of Fund scheme named “Motilal Oswal MOSt Gold Fund of Fund (MOSt Gold FOF). The New Fund Offer (NFO) price for the scheme is Rs 10 per unit.
According to the offer document filed with SEBI, the entry load is nil, while the exit load of 0.5 per cent will be charged if the units are redeemed within 1 year of allotment of units.
The minimum application amount is Rs 10,000 and in multiple of Rs 1 thereafter. The two options were available under the Plan of the Scheme viz. Growth option only. The performance of the scheme will be standardized against Spot Gold Price and Rajnish Rastogi will be the Fund Manager of the scheme.
The asset allocation of scheme will be in such a way that the objective of the scheme to seek returns will be met through investments in units of Motilal Oswal MOSt Shares Gold ETF (MOSt Gold Shares). Hence, the scheme will allocate 95 to 100 per cent of asset in Motilal Oswal MOSt Shares Gold ETF (MOSt Gold Shares) and 0 to 5 per cent in money market instruments and/or units of liquid schemes.