Motilal Oswal AMC launches Gold and Silver ETFs, FoFs

MotilalOswal Asset Management Company (MOAMC) has announced the launch of Motilal Oswal Gold and Silver ETFs FoFs, with an objective to generate returns by investing in units of Gold ETF and Silver ETF.
The scheme shall generate returns by investing in units of Gold and Silver ETFs; the daily weights shall be market driven with the starting (NFO) allocation of 70:30. 

The maximum weight is capped at 90%, subject to quarterly review.  The initial higher allocation to Gold is on account of it having higher economic value and being highly liquid. Additionally it is relatively more stable as compared to silver, according to a press release from the company.

The NFO will open on September 26, 2022 and closes on 7th October 2022.Indicative Base Total Expense Ratio of the funds: Regular – 0.50%, Direct – 0.15%. The date of allocation is October 13, 2022.  The Minimum Application amount for Motilal Oswal Gold  and Silver ETFs FOFs is Rs. 500/- and in multiples of Re. 1/- thereafter.  On ongoing basis investor can purchase/redeem units of the Scheme through financial advisor or by log-in to www.motilaloswalmf.com.