Motilal Oswal Group launches SIP for employees
All confirmed and on-roll employees of Motilal Oswal Group are eligible for MOGSIP
According to a press release, the objective of the plan is to help employees to imbibe the philosophy of long-term investing. An employee can invest in one of three pure equity mutual fund schemes - multi cap, mid cap or focused - of Motilal Oswal AMC.
Within one month of opening subscription to MOGSIP, more than 1,450 employees have opted for the program. The first month’s SIP has been invested on September 5.
The minimum amount for monthly subscription is Rs 500. There is no upper limit on employee’s monthly contribution. Although, the company contribution has certain grade-wise caps.
“Though many of our group employees are equity investors, there are many others, who were not investing in the equity markets. When we are advising external world, all our own people too should be encouraged to invest into equity markets,” said Motilal Oswal, Managing Director, MOFSL. "This will also help them realise how wealth may be created via long-term investing in equity markets. Mutual funds are better options for them as, a good manager knows all the nitty-gritties of equity markets,” added Motilal Oswal.