Motilal Oswal Asset Management Company Ltd has filed paperwork with the Securities and Exchange Board of India to launch an open-ended index ETF, which would be the countrys first once it is approved by the regulator.
Motilal Oswal MOSt Shares NASDAQ-100 ETF, referred to as MOSt Shares N100, will track the NASDAQ-100 Index.
MOSt Shares N100 will be a unique offering, says Nitin Rakesh, managing director and CEO of Motilal Oswal AMC. It aims to provide Indian investors with a global, diversified, rupee-denominated, Indian market hours access to high growth NASDAQ-100 Index companies such as Google, Microsoft, Apple and other leading global companies.
The NASDAQ-100 Index is made up of the 100 largest non-financial companies listed on The NASDAQ Stock Market.
We plan to launch more such specialized first of their kind world leading products which help investors create a well diversified portfolio from global assets, adds Rakesh.