We wish to inform the Exchanges that Motilal Oswal Asset Management Company Limited ('MOAMC'), a Material Wholly-Owned Subsidiary of Motilal Oswal Financial Services Limited (the 'Company'), ....
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Motilal Oswal Asset Management Company (MOAMC), a wholly-owned subsidiary, has received a Letter of Appointment from PFRDA (Pension Fund Regulatory and Development Authority) appointing it as Sponsor of Pension Fund under the National Pension System (NPS). The appointment authorises MOAMC to establish a separate Pension Fund company that will manage pension assets for NPS subscribers. MOAMC must still obtain necessary registrations, approvals, and execute agreements including the Investment Management Agreement with the NPS Trust before commencing full-scale operations. This marks MOAMC's entry into India's pension fund management ecosystem.
This approval allows MOAMC to enter a new business segment (pension fund management), potentially expanding revenue streams for the subsidiary and parent company Motilal Oswal Financial Services.