1 min read.Updated: 24 Nov 2021, 10:54 PM ISTNeil Borate
If granted, this would be the third hike in foreign investment limits in the past year
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Motilal Oswal Asset Management Company has requested Sebi to increase the USD 1 billion limit (around ₹7,400) crore given to fund houses for international investment, two persons with knowledge of the matter independently confirmed to Mint. Motilal Oswal Mutual Fund has an Exchange Traded Fund (ETF) and a Fund of Funds (FoF) tracking the NASDAQ Index and an index fund tracking the S&P 500 index. The Motilal Oswal NASDAQ ETF has assets under management (AUM) of ₹5,704 crore and the Motilal Oswal S&P 500 Index Fund has assets of ₹2,398 crores (as of October 2021). Launched in March 2011, the NASDAQ ETF has delivered 26.2% CAGR over the past 10 years, sharply beating the domestic Indian equity market. The S&P BSE 500, a proxy for the Indian stock market, has given a CAGR of 16.5% over the past 10 years. Motilal Oswal S&P 500 Index Fund launched in April 2020 has delivered 33.7% since inception.