Page 17 - Banking Finance August 2022

MUTUAL FUND

Mutual Fund

Motilal Oswal Mutual Oswal Asset Management Company, ager -- fixed income & a vice-president
was quoted saying in a release. at LIC Mutual Fund, said.
Fund launches index
The Motilal Oswal S&P BSE Quality ETF Prabhu said the fund launch comes at
funds and ETFs tracking and Index Fund are single factorbased an appropriate time as spreads be-

quality and value factors investment strategies that aim to in- tween corporate bonds and the repo
clude the top 30 'Quality' stocks based rate are retracing towards their mean
Motilal Oswal Asset Management
on rule-based parameters. These com- of 1.07 per cent, making money mar-
Company has launched factor-based
panies tend to have durable business ket funds a favourable option to in-
funds such as Motilal Oswal S&P BSE
models and sustainable competitive vest.
Quality ETF and Motilal Oswal S&P BSE
advantages.
Quality Index Fund, and Motilal Oswal The fund proposes to invest in money
S&P BSE Enhanced Value ETF and market securities having up to one-year
Motilal Oswal S&P BSE Enhanced Value LIC MF eyes Rs 1,000 crore maturity, along with an option to in-
Index Fund, company said in a release. vest in both sovereign and money mar-
from new money market
ket instruments to arrive at an opti-
The new fund offer will open for sub-
fund mum asset allocation between the as-
scription on July 29 and closes on Au-
LIC Mutual Fund is targeting to collect set classes, Singh said.
gust 12. Investors can invest a mini-
Rs 1,000 crore from its new money
mum of Rs 500 and in multiples of Re
market fund launched. The new fund
1 thereafter. On an ongoing basis, in- Franklin Templeton Mu-
is an open-ended debt scheme that
vestors can purchase/redeem units of tual Fund launches new
facilitates investing in money market
the scheme through a financial advisor
instruments, it said in a statement. scheme after two years
or through the company website.
Nityanand Prabhu, executive director Franklin Templeton Mutual Fund is
"With an objective to cater the evolv-
and business head of LIC MF, told that launching a new scheme after a gap of
ing needs of the investors, we have
it has set an internal target of garner- two and a half years. The fund house
introduced ETFs & index funds in the
ing at least Rs 1,000 crore from the has received approval from Sebi to
factor investing segment. These new
scheme during the primary subscription launch a balanced advantage fund. This
funds are based on the Quality and
period. will be Franklin Templton's first prod-
Value factors. We aspire to build a
uct offering after it faced rough
unique brand positing by establishing The fund, targeted mainly at corpo-
weather following its decision to shut
ourselves as a fund house to drive the rate investors, is open for two days for
six debt schemes in 2020.
factor investing category in India," the subscription. It will reopen on Au-
Navin Agarwal, MD & CEO, Motilal gust 3, Rahul Singh, a senior fund man- FIBAF is a dynamically-managed fund.
BANKING FINANCE | AUGUST | 2022 | 17