Motilal Oswal Asset Allocation Passive FoF - Investors can give it a skip It will provide investors a static exposure to equity, debt and gold If you want exposure to multiple assets – equity, debt and gold , you can consider asset allocation mutual fund schemes. Here, you have two options. One, multi asset allocation funds, that must invest 10 per cent or more in at least three different asset classes. Two, you can invest in an asset allocation fund of funds (FoF), that invests in a combination of equity, debt and other-asset focused mutual funds. Such schemes help investors in diversifying risk and reducing return volatility. The recently launched, Motilal Oswal Asset Allocation Passive FoF – Aggressive and Conservative – belongs to the latter category. The new fund offer closes on March 5.