Gold Benchmark Exchange Traded Scheme debuted at Rs 942.8777 per unit. One unit of the scheme is equivalent to one gram of gold. The scheme, whose initial public offering closed on February 23, re-opened for fresh investments and sales on March 16, 2007. (Check out - Mutual Fund New Fund Listings)
Gold Benchmark Exchange Traded Scheme is the India's first Gold Exchange Traded Fund listed on the National Stock Exchange. The investment objective of Gold Benchmark Exchange Traded Scheme (Gold BeES) is to provide returns that, before expenses, closely correspond to the returns provided by domestic price of gold through physical Gold. However, the performance of Scheme may differ from that of the domestic prices of Gold due to expenses and certain other factors. There can be no assurance or guarantee that the investment objective of Gold BeES will be achieved.
The scheme was launched on February 15, 2007. The performance of the Scheme will be benchmarked against the price of Gold. The units can be bought or sold directly at the National Stock Exchange.