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Motilal Oswal Mutual Fund has filed offer document with SEBI to launch an open-ended fund named 'Motilal Oswal Nifty India Defence ETF'. The New Fund Offer price is Rs 10. Entry and exit load will be nil. The Scheme does not offer any Plans /Options for investment and seeks to collect a Minimum Target Amount of Rs 5 crore.

The performance of the scheme will be benchmarked by Nifty India Defence Total Return Index. The minimum application amount is Rs 500 per application and in multiples of Re 1 thereafter.

The investment objective of the scheme is to provide returns that, before expenses, closely correspond to the total returns of the securities as represented by Nifty India Defence Total Return Index.