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Motilal Oswal Mutual Fund (MF) has launched Motilal Oswal Nifty Microcap 250 Index Fund, an open-ended fund replicating / tracking the Nifty Microcap 250 Total Return Index. The NFO opens for subscription on June 15, 2023 and closes on June 29, 2023. The Entry load is nil for the scheme. The Exit load will be 1%, if redeemed on or before 15 days from the date of allotment and nil, if redeemed after 15 days from the date of allotment. The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against Nifty Microcap 250 Total Return Index and its fund manager is Swapnil Mayekar.

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 Microcap 250 Total Return Index, subject to tracking error.