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Motilal Oswal Mutual Fund (MF) has launched Motilal Oswal Nifty 500 ETF, an open-ended scheme replicating/tracking the Nifty 500 Total Return Index. The NFO opens for subscription on September 27, 2023 and closes on September 29, 2023. The Entry load and Exit load is nil for the scheme. The minimum subscription amount is Rs 500 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against Nifty 500 Total Return Index and its fund managers are Swapnil Mayekar and Rakesh Shetty.

The investment objective of the scheme is to provide returns that, before expenses, correspond to the total returns of the securities as represented by the Nifty 500 Total Return Index, subject to tracking error.