To inculcate a culture and discipline of regular investing in equity instruments for wealth creation over long term, the Motilal Oswal Group has announced the Motilal Oswal Group Systematic Investment Plan (MOGSIP) for its employees. Through this one-of-a-kind scheme, once an employee starts an SIP in a mutual fund scheme of Motilal Oswa asset management company, the employer will also contribute a matching SIP amount in the employee’s name in the same scheme every month.
The primary objective is to imbibe the philosophy of long-term investment in all employees of the group. The scheme is available to all confirmed and on-roll employees of the Motilal Oswal group of companies. Employees can choose one of three pure-equity mutual fund schemes – multicap, midcap or focussed. Once an employee subscribes to a monthly SIP the employer will also contribute a matching SIP in the employee’s name in the same scheme every month. The minimum amount for monthly subscription is Rs. 500 only. Although the company contribution has certain grade-wise caps, there is no upper limit on any employee’s monthly contribution.
Speaking on the launch of this initiative, Motilal Oswal, managing director, Motilal Oswal financial services limited says, “The name Motilal Oswal Group has become synonymous with the word equity. We have been in the equity investment advisory for more than three decades and have positioned ourselves as equity experts in the industry. Though many of our group employees are equity investors, there are many others, who were not investing in the equity markets. While we are advising the external world, all our own people should be encouraged to invest in equity markets as well. This will also help them realise how wealth may be created via long-term investment in equity markets. Mutual funds are better options for them as a good manager knows all the nitty-gritties of equity markets.”
Through MOGSIP, we wish to encourage employees to plan for the future by demonstrating conviction in equity as an asset class, backed by further commitment from the employer,” says Mr. Oswal.