After allegations of irregularities in the stock of Kalyan Jewelers surfaced, the top management of Motilal Oswal Asset Management Company has talked to 500 distributors about the investment policy of the fund house and measures related to controlling risk. . On behalf of the management, Motilal Oswal, AMC MD and CEO Prateek Aggarwal, CIO Niket Shah and CBO Akhil Chaturvedi etc. participated in this call. These representatives assured the distributors that the fund house and its fund managers had done nothing wrong and no one had been fired.
Recently, there was a strong discussion on social media that many fund managers of Motilal Oswal AMC are involved in manipulation in the shares of Kalyan Jewelers and the fund house has dismissed many fund managers in this regard. Aggarwal said, ‘If you see bulk deals related to Kalyan Jewellers, the list of buyers will be there.’
He said, ‘You should be proud that you were able to purchase as much as we wanted. Instead of being praised for this, we were put on trial. According to NSE bulk deal data, Motilal Oswal had bought about 22 lakh shares of Kalyan Jewelers on August 22. The management has reiterated that the rumor related to this is baseless and it is the result of rumors running on WhatsApp University.
Currently, Motilal Oswal has invested in Kalyan Jewelers through various funds. These funds include Nifty 200, Nifty 500 Momentum Fund, Business Cycle Fund and their Midcap Fund. During the call, the management has reiterated that the strategy of the company’s fund has been prepared in such a way that there is not much dependence on any one particular stock.
Agarwal said, ‘One assumption was that we are a stock-based fund house. However, if you look at our performance over the years, it has been consistently good and is not based on any particular stock. He said that our entire team has worked together, the effect of which has been seen in the growth of the fund house.