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Online PR News – 07-June-2017 – Maharashtra – Mumbai, 21 February, 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. Continuing with the tradition of creating ‘India’s first’ products, MOSt Gold Shares is India’s 1st Gold ETF of its kind which seamlessly enables Investment as well as Consumption of Gold for Retail Investors.rnrnThe NAV of the MOSt Gold Shares unit will track spot price of 1 gm 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.rnrnMOSt Gold Shares is supported by RiddiSiddhi Bullions Limited (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.rnrnSpeaking on the occasion, Mr. 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!”rnrn“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 Mr. Prithviraj Kothari, Managing Director of RiddiSiddhi Bullions Limited (RSBL).rnrnMOSt Gold Shares will be listed on the NSE and BSE. The New Fund Offer (NFO) will be open for subscription from 2nd of March 2012 till 16th of March 2012. The minimum investment amount during the NFO is INR 10,000 and in multiples of INR 1 each thereafter. The fund manager of the scheme is Mr. Rajnish Rastogi. 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.rnrnAbout Motilal Oswal Asset Management Company Limited (MOAMC)rnrnMotilal Oswal Asset Management Company Ltd. (AMC) is a public limited company incorporated under the Companies Act, 1956 on November 14, 2008. Motilal Oswal Asset Management Company Ltd. has been appointed as the Investment Manager to Motilal Oswal Mutual Fund.rnrnAbout Motilal Oswal Financial Services LimitedrnrnMotilal Oswal Financial Services Ltd. (NSE: MOTILALOFS, BSE: 532892, BLOOMBERG: MOFS IN) is a well-diversified, financial services company focused on wealth creation for all its customers, such as institutional, corporate, HNI and retail. Its services and product offerings include wealth management, retail broking and distribution, institutional broking, asset management, investment banking, private equity, commodity broking and principal strategies. The company distributes these products through 1,563 business locations spread across 555 cities and the online channel to over 738,156 registered customers. MOFSL has strong research capabilities, which enables them to identify market trends and stocks with high growth potential, facilitating clients to take well- informed and timely decisions. MOFSL has been ranked by various polls such as the Best Local Brokerage 2005, Most Independent Research - Local Brokerage 2006 and Best Overall Country Research - Local Brokerage 2007 in the Asia Money Brokerage Polls for India. In the StarMine India Broker Rankings 2009 from Thomson Reuters, we won awards in 3 out of 4 categories and also bagged the No. 1 Broker Award in the ET Now – StarMine Analyst Awards 2009. We were adjudged as the ‘Best Performing Equity Broker (National)’ at the CNBC TV18 Financial Advisors Awards 2010. MOSL won 4 awards in the ET-Now Starmine Analyst Awards 2010-11, placing it amongst the Top-3 award winning brokers, was ranked No. 2 by AsiaMoney Brokers Poll 2010 in the Best Local Brokerage Category and won the ‘Best Market Analyst’ Award for 2 sectors at the India’s Best Market Analyst Awards 2011. Our mutual fund product, M-50 ETF bagged the ‘Most Innovative Fund of the Year’ award at the CNBC TV18 CRISIL Mutual Funds Awards 2011. MOFSL won awards for Excellence in HR through Technology and Excellence in Healthcare at Asia’s Best Employer Brand Awards 2011 in Singapore, and the ‘Best Capital Markets and Related NBFC’ award at the CNBC TV18 Best Banks and Financial Institutions Awards 2011. MOSL also won the ‘Best Equity Broking House’ award for FY11 at the Dun & Bradstreet Equity Broking Awards 2011.