Motilal Oswal Mutual Fund has launched a new open-ended diversified equity scheme - Most Focused Multicap 35 Fund.
The new scheme seeks to achieve long-term capital appreciation by primarily investing in a maximum of 35 equity and equity-related instruments across sectors and market capitalisation levels, a company release said.
The new fund offer, which opened for subscription from April 7, will close on April 17, 2014.
The scheme will allocate a minimum of 65 percent to equities and a maximum of 35 per cent in debt or money market instruments.
It may also invest in foreign securities up to 10 percent of total net assets, the company said.
"In the long run, we have always seen alternating cycles of out-performance between large-cap, mid-cap and small-cap stocks.
"From that perspective, this new scheme becomes an ideal core holding proposition in an investor's equity portfolio allocation," said Aashish Somiyaa, Managing Director and Chief Executive Officer, Motilal Oswal AMC.