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Motilal Oswal Mutual Fund has filed offer document with SEBI to launch an open-ended fund named ‘Motilal Oswal Nifty 500 Momentum 50 Index Fund'. The offer price will be Rs 10 each. Entry load will be nil. 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 Scheme offers Growth Option for investment. The minimum target subscription amount for the Scheme to be raised is Rs 5 crore.

The performance of the scheme will be benchmarked against Nifty 500 Momentum 50 Total Return Index. The minimum application amount is Rs 500 and in multiples of Re 1 thereafter.

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 500 Momentum 50 Total Return Index, subject to tracking error.