Motilal Oswal Asset Management Company launched Motilal Oswal MOSt Shares NASDAQ -100 ETF (MOSt Shares NASDAQ 100), an open ended index exchange-traded fund (ETF), which will track the NASDAQ-100 Index.
The NASDAQ-100 Index comprises of 100 largest non-financial companies listed on The NASDAQ Stock Market. The NASDAQ 100-Index is developed and maintained by the NASDAQ OMX Group. Nitin Rakesh, MD & CEO, Motilal Oswal Asset Management Company said, “MOSt shares NASDAQ-100 ETF provides a good diversification and access to leading global companies listed on the NASDAQ stock market." MOSt Shares NASDAQ 100 will be listed on the NSE and BSE.
MOSt Shares NASDAQ 100 will provide exposure to top 100 domestic and international non-financial securities listed on the NASDAQ Stock Market® based on market capitalisation. The New Fund Offer (NFO) will be open for subscription from March 16, 2011 till March 23. The minimum investment amount during the NFO is Rs 10,000 and in multiples of Re 1, thereafter. The fund manager of the scheme is Rajnish Rastogi
This is India's first ETF based on US equities.