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Motilal Oswal launches MOSt Gold Shares

The New Fund Offer (NFO) of MOSt Gold Shares will be open for subscription from 2 March 2012 till 16 March 2012

Motilal Oswal Mutual Fund announced the launch of Motilal Oswal MOSt Shares Gold ETF (MOSt Gold Shares), an open-ended exchange traded fund that invests in gold bullion. MOSt Gold Shares is India's 1st Gold ETF, which seamlessly enables investment as well as consumption of gold for retail investors.

The NAV (net asset value) of the MOSt Gold Shares unit will track spot price of 1 gram of gold. Valued at spot gold bullion prices, investors can get pure imported Gold at a price lower than any other option in the market by redeeming the ETF units for physical gold bars in as low as 10 grams across 22 cities in India. It will provide investors a means of participating in the gold bullion market and take physical delivery of gold when needed. This makes MOSt Gold Shares stand apart from others.

MOSt Gold Shares is supported by RiddiSiddhi Bullions (RSBL), as Primary Authorized Participants & Market Makers. RSBL is one of the largest bullion dealers in India. It runs RSBL Spot, one of the most successful gold and silver trading OTC systems in the world. These prices are the benchmark in the professional bullion markets across India.

Speaking on the occasion, Nitin Rakesh, CEO, Motilal Oswal AMC said, "MOSt Gold Shares is a unique offering as it offers the best of both worlds-investment-cum-consumption-in a very cost effective way, you can get gold at lower price!"

"RSBL and Motilal Oswal has tried to meet the needs of all Indians wanting to have gold in their portfolio - whether as an investment or as physical. This product has everything for a consumer - effective pricing, assurance in purity and weight of LBMA listed refiner bars and tax efficiency." said Prithviraj Kothari, managing director of RiddiSiddhi Bullions (RSBL).

The investment objective of the scheme is to provide return by investing in gold bullion. The performance of the fund will be benchmarked to the spot gold price. All gold bullion held in the scheme's allocated account with the custodian shall be of finesse (or purity) of (99.5%) or higher.

MOSt Gold Shares will be listed on the NSE and BSE. The New Fund Offer (NFO) will be open for subscription from 2 March 2012 till 16 March 2012. The minimum investment amount during the NFO is Rs10,000 and in multiples of Re1 each thereafter. The fund manager of the scheme is Rajnish Rastogi.

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COMMENTS

anil

5 years ago

Is GOLD ETF give any divident?

Edelweiss Tokio Life Insurance launches Protection and Income Replacement plans

The newly launched plans of Edelweiss Tokio Life Insurance help a family maintain the same standard of living in case of the unfortunate death of the chief earning member of the family

Edelweiss Tokio Life Insurance Company, has launched two cost-effective term plans that helps a family maintain the same standard of living in case of the unfortunate death of the chief earning member of the family.

Edelweiss Tokio Life-Protection, a pure term plan provides lump sum payment to the nominee in case of the unfortunate event of the death of the life assured, the income replacement ensures that on death of the life assured the family still continues to receive regular monthly income till the end of the policy term.

Some of the key highlights of the Edelweiss Tokio Life-Protection plan include: lower cost for higher sum assured; assurance of protection for a maximum period of 30 years, depending on age cover may extend upto 70 years; limited premium payment option, which enables you to pay premiums for a shorter term and yet stay covered for a longer term; lower rates rewarding a healthy lifestyle by way of non-consumption of tobacco.

Some of the features of the Edelweiss Tokio Life-Income Replacement plan include:      lower cost for higher sum assured; inflation mitigating benefit by way of fixed 5% increase every year in monthly income; limited premium payment option, which enables you to pay premiums for a shorter term and yet stay covered for a longer term; the monthly benefit will be provided for a minimum of five years even if your remaining policy term is less than five years; lower rates rewarding a healthy lifestyle by way of non-consumption of tobacco.

Highlighting the importance of protection, Deepak Mittal, CEO, Edelweiss Tokio Life Insurance Company said, "A sudden unfortunate death of the bread winner of the family could jeopardize dreams and bring about a drastic change in the lifestyle of a family. Our protection and income replacement plans address this core need and provide a cost friendly solution of complete protection of your aspirations for your loved ones."

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