Motilal Oswal MF launches 2 NFOs

Hyderabad: Motilal Oswal Asset Management Company (MOAMC) has launched two passive funds i.e, Motilal Oswal S&P BSE Financials Ex-Bank 30 Index Fund and Motilal Oswal S&P BSE Healthcare ETF. Both the NFOs will open on July 14 and close on July 22.

Navin Agarwal, MD and CEO, MOAMC, said: "With an objective to bring new investment opportunity through innovative products, we built a new concept to leverage wealth creation opportunities beyond just banks within financial services sector. With India's urban population set to grow to 50 per cent from the current 35 per cent, the migration will trigger transfer of money from old assets (term deposits) to new assets (capital markets & insurance) and the rise in consumption economy i.e. high demand for credit."

The Motilal Oswal S&P BSE Financials Ex-Bank 30 Index Fund aims to provide exposure to the financial services sector excluding banks.