Motilal Oswal MF splits face value of NASDAQ 100 ETF units

Motilal Oswal Asset Management Company Limited has announced split in the face value of each unit of Motilal Oswal NASDAQ 100 ETF from existing Rs 10 to revised Re 1. According the AMC, the ex-date and record date for the split is set as 17 June and 18 June respectively.

The balance unit holding of the existing unit holders under the scheme as per records of the depositories as on 18th June will increase proportionately. However, this will not have any impact on the current value of holdings of the Unit holders of the scheme, the AMC said.

“At Motilal Oswal AMC, it is our constant endeavor to offer easy access to innovative products at low cost. The split will result in Motilal Oswal NASDAQ 100 ETF trading at 1/10th price from the open on 17 June 2021. This would encourage small investors to take exposure to international equities.” said Navin Agarwal, MD & CEO of Motilal Oswal Asset Management Company.

“We think the split will encourage more retail participation in this ETF which may also help increase liquidity on the stock exchange. Post-split, investors can invest in this ETF with as low as Rs 100/-.” said Pratik Oswal, Head of Passive Funds, Motilal Oswal Asset Management Company. “We take this opportunity to thank all our investors for believing in us. The asset under management of Motilal Oswal NASDAQ 100 ETF cross Rs 4,000 crores as of 16th June 2021, another important milestone.” further added by Pratik Oswal.