Motilal Oswal Asset Management Company Ltd and the Nasdaq OMX Group, Inc. have filed for an open-ended index ETF, Motilal Oswal MOSt Shares Nasdaq-00 ETF, which seeks to track the Nasdaq-100 Index.
The Nasdaq-100 consists of the top 100 non-financial companies listed on the Nasdaq stock market. "The MOSt Shares N100 will provide investors an opportunity for exposure to the US capital market," said Mr Rajnish Rastogi, Senior VP & Co-Head of Equities, Motilal Oswal Asset Management Company.
"It aims to provide Indian investors with a global, diversified, rupee denominated, Indian-market-hours access to high growth Nasdaq -100 Index companies such as Google, Microsoft, Apple and other leading global companies," said Mr Nitin Rakesh, MD & CEO of Motilal Oswal AMC.
Source: http://www.thehindubusinessline.com/2010/12/02/stories/2010120251321100.htm
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