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Jul 24, 2012, 03.53 PM IST
Asset management company IDBI Mutual Fund today launched a gold fund targeted mainly at retail investors and people without demat accounts.
The scheme opens for subscription tomorrow (July 25) and closes on August 8. The investment objective is to generate returns that correspond closely to the returns generated by IDBI Gold Exchange Traded Fund (IDBI Gold ETF) that was launched last October.
IDBI AMC Managing Director and Chief Executive Debasish Mallick told reporters here.
On the amount AMC expects to garner from the new scheme, Mallick said, "We are expecting at least Rs 100 crore during the NFO period."
The fund house further said investment in gold provides better inflation-adjusted returns.
"In the last 10 years, gold has beaten the headline inflation 8 out of 10 times. It has outperformed and given positive inflation adjusted returns," he said.
May 20 2013, 23:30
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