MUMBAI: Motilal Oswal Asset Management Company Limited has announced a split in the face value of each unit of Motilal Oswal NASDAQ 100 ETF in a 1: 10 ratio. Consequently, the balance unit holding of existing unit holders under the Scheme as per records of the depositories as on 18 June, 2021, will increase proportionately. However, this will not have any impact on the current value of holdings of the unit holders of the scheme.
“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 Ltd.
“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 ₹100/,” said Pratik Oswal, Head of Passive Funds, Motilal Oswal Asset Management Company Ltd.
The NAV of the Motilal Oswal NASDAQ ETF on 16 June was Rs1,005. Hence a 1:10 split is likely to bring down the NAV to levels of around ₹100.
“We take this opportunity to thank all our investors for believing in us. The asset under management of Motilal Oswal NASDAQ 100 ETF crossed ₹4,000 crores as of 16th June 2021, another important milestone,” Oswal added.
Never miss a story! Stay connected and informed with Mint.
our App Now!!