New seriesOpen-ended + 2 series
Founders Fund
Businesses whose founders still own more than 26%, held with a long horizon.
26%+founders' stake, at the least, in every business
A private fund of Indian shares, from ₹1 crore.
Motilal Oswal's Category III Alternative Investment Funds: listed Indian shares, in open-ended funds or fixed-term series. No demat account needed.
- No demat neededYou hold units of the fund.
- SEBI Category IIITwo registered Motilal Oswal trusts.
- One-to-oneOffered privately, with the PPM.
₹1 croreminimum to invest, set by SEBI
9AIF strategies listed by Motilal Oswal AMC
2SEBI Category III trusts run by Motilal Oswal
₹1.5 lakh crMotilal Oswal AMC assets across MF, PMS and AIF
$0.5 bn+in Motilal Oswal's GIFT City funds, since June 2024
Figures as Motilal Oswal publishes them on its AIF and GIFT City pages. The ₹1 crore minimum is set by SEBI.
What an AIF isCategory III, listed equity
Not a mutual fund, not a PMS. A private fund.
01.
Units in a private fund
A SEBI-registered trust for ₹1 crore and more. You hold units, so no demat account is needed.
02.
Open-ended, or a series
Join an open-ended fund any time, or commit to a fixed-term series that calls money in parts.
03.
Tax paid in the fund
A Category III AIF pays its own tax. What you see as the value is after that tax.
Motilal Oswal AIF strategies9 funds in 5 families
Five ideas. Nine ways to invest in them.
Open-ended + Series
Hedged Equity Multifactor
A model picks 20 to 25 stocks on four factors, with a hedge against sharp falls.
20–25stocks, chosen by a model, not a person
Strategy
Next Trillion Dollar Opportunity
Mostly small and mid caps, in the sectors set to gain as India adds its next trillion dollars of GDP.
2007the year Motilal Oswal began this idea, as a PMS
Strategy + Series
Value Migration
Long-term compounding in good businesses run by great managers.
2003the year Motilal Oswal began this idea, as a PMS
Series
Mid to Mega
Mid caps that can grow into tomorrow's largest companies, in a fixed-term fund.
IIIthe third fund series of this idea
AIFs are offered by private placement only, so returns and holdings are not shown here. Ask us and we share the fund's papers and record with you directly.
Inside each fund familyFormats, method, rules
How each one actually works.
Category III AIF
Founders Fund
Businesses whose founders still own more than 26%, held with a long horizon.
Cat IIISEBI category
₹1 crminimum
3ways in, in rupees
Ways to invest
How a series runs
Same idea as a PMSfrom ₹50 lakh- Commit
- Drawdowns
- Fixed term
- +2 yrs max
- Paid back
How stocks are picked
QQuality
GGrowth
LLongevity
PPrice
The ruleFounders own more than 26%.
Category III AIF
Hedged Equity Multifactor
A model picks 20 to 25 stocks on four factors, with a hedge against sharp falls.
Cat IIISEBI category
₹1 crminimum
2022launched
Ways to invest
How a series runs
- Commit
- Drawdowns
- Fixed term
- +2 yrs max
- Paid back
How the model picks
Sleeve 1 · 75%
- 51–300market-cap rank
- ~75quality
- ~20value + momentum
Sleeve 2 · 25%
- 51–300market-cap rank
- −10%most volatile cut
- ~20value + momentum
Plus a tail hedgeCushions sudden crashes. No human picks stocks.
Category III AIF
Next Trillion Dollar Opportunity
Mostly small and mid caps, in the sectors set to gain as India adds its next trillion dollars of GDP.
Cat IIISEBI category
₹1 crminimum
2007first run as a PMS
Ways to invest
- Next Trillion Dollar OpportunityAsk usPPM
How to invest
Same idea as a PMSfrom ₹50 lakh- Ask us
- Read the PPM
- Invest ₹1 cr+
- Track the NAV
How stocks are picked
QQuality
GGrowth
LLongevity
PPrice
Where it looksSectors riding India's next trillion dollars of GDP.
Category III AIF
Value Migration
Long-term compounding in good businesses run by great managers.
Cat IIISEBI category
₹1 crminimum
2003first run as a PMS
Ways to invest
How a series runs
Same idea as a PMSfrom ₹50 lakh- Commit
- Drawdowns
- Fixed term
- +2 yrs max
- Paid back
How stocks are picked
QQuality
GGrowth
LLongevity
PPrice
The ideaGreat businesses, held long enough to compound.
Category III AIF
Mid to Mega
Mid caps that can grow into tomorrow's largest companies, in a fixed-term fund.
Cat IIISEBI category
₹1 crminimum
Seriesfixed term
Ways to invest
- India Excellence Fund Series IIISeriesPPM
How a series runs
Same idea as a PMSfrom ₹50 lakh- Commit
- Drawdowns
- Fixed term
- +2 yrs max
- Paid back
How stocks are picked
QQuality
GGrowth
LLongevity
PPrice
The ideaToday's mid caps, tomorrow's giants.
AIF fee calculatorNothing is sent
What a year of fees costs you.
Your investment after one year
₹1.16 crore
+16.5% after all fees and expenses
The same method as Motilal Oswal's PMS fee calculator (SEBI's Annexure 4A format): fees on average assets, returns earned evenly through the year, high-water mark = what you invested. GST extra. Fees only: a Category III AIF also pays tax inside the fund. Each fund's PPM sets its actual fees.
Ask us a fund's feesAIF for NRIsFrom Motilal Oswal's own pages
Living abroad? Two ways in: rupees or dollars.
NRIs can invest in Motilal Oswal's AIFs here in rupees, or in US dollars through its funds at GIFT City, next door to Ahmedabad.
In rupees, in India
- Motilal Oswal's onshore AIFs take NRI investors
- ₹1 crthe same SEBI minimum as residents
- No demat account needed: you hold units
- KYC once, registered with a KYC agency
Tax
- Paid inside the fund, as for every Category III AIF. Your country may tax you too.
In US dollars, at GIFT City
- Motilal Oswal Alternative IFSC: a Category III AIF registered with IFSCA
- The Founders idea, in a dollar fund
- A dollar fund feeding Motilal Oswal's Large & Midcap Fund, with no tax at fund level, Motilal Oswal says
- $0.5 bn+managed there since June 2024
Living in the US or Canada? Ask us before you start: FATCA rules decide what you can open.
Sources: Motilal Oswal's AIF page, motilaloswal.com's AIF page ("Even NRI investors can invest in AIFs") and Motilal Oswal's GIFT City page.
How to startOne-to-one, by private placement
- 01
Talk to us
Your goals, horizon and what you already hold.
- 02
Read the PPM
The fund's Private Placement Memorandum, shared with you directly.
- 03
Sign and fund
KYC and the contribution agreement; ₹1 crore at once, or in drawdowns.
- 04
Track it
Monthly or quarterly NAV, an investor login, and us a call away.
AIF or PMSBoth run by Motilal Oswal AMC
Same research. A different wrapper.
PMSAIF
You ownThe shares, in your dematUnits of the fund
Minimum₹50 lakh₹1 crore
FormatsOpen-endedOpen-ended, or a fixed-term series
TaxOn each sale, in your namePaid inside the fund
Value shownEvery dayNAV monthly or quarterly
Talk to us about AIFsAbout a minute
Tell us what you have in mind. A person replies.
We share the fund's papers with you and walk you through the fees and the paperwork.
- Call
- +91 76007 29555
- +91 97373 04182
Questions8
Quick answers.
Who can invest in an AIF?
Resident Indians, NRIs and foreign investors, with at least ₹1 crore. That minimum is set by SEBI.
Can an NRI invest in Motilal Oswal's AIFs?
Yes: in rupees, in Motilal Oswal's onshore AIFs, or in US dollars through its GIFT City funds. The two routes.
Why are returns not shown on this page?
SEBI allows AIFs to be offered only by private placement, not to the public. We share each fund's PPM and record with you directly.
Do I need a demat account?
No. You hold units of the fund, recorded in your name, and see them through Motilal Oswal's investor login.
Open-ended or a series: what is the difference?
An open-ended fund takes money and pays it back on set dates. A series is close-ended: you commit once, the money is called in parts, and it is returned at the end of a fixed term, which may be extended by up to two years with approval.
How is a Category III AIF taxed?
The fund pays tax on its own gains; there is no pass-through to investors. The NAV you are shown is after that tax.
How often will I know the value?
Category III AIFs publish their NAV every month if open-ended and every quarter if close-ended, as SEBI requires.
What does it cost?
A management fee, a fee on gains above a hurdle, or both, plus fund expenses and GST. Each fund's PPM sets them; the calculator above shows how they add up.
From the GVNG DeskRead before you invest
