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Motilal Oswal Mutual Fund (MF) has launched Motilal Oswal Developed Market Ex US ETFs Fund of Funds, an open-ended fund of funds scheme investing in units of Global ETFs which track the performance of Developed Markets excluding US. The NFO opens for subscription on September 18, 2023 and closes on September 21, 2023. The Entry load is nil for the scheme. The Exit load is 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 S&P Developed Ex-U.S. BMI Total Return Index and its fund managers are Ankush Sood and Rakesh Shetty.

The investment objective is to generate long term capital appreciation by investing in units of global ETFs which track the performance of Developed Markets excluding US, subject to tracking error, if any.