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    HomeNewsBusinessMutual FundsReliance gold fund scheme collects Rs 500 cr

    Reliance gold fund scheme collects Rs 500 cr

    Reliance Mutual Fund on Wednesday said it has so far collected Rs 500 crore (USD 111 million) from 200,000 investors under its gold fund of funds scheme.

    March 09, 2011 / 16:53 IST
       
       
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      Reliance Mutual Fund on Wednesday said it has so far collected Rs 500 crore (USD 111 million) from 200,000 investors under its gold fund of funds scheme.


      "The large participation in the fund reaffirms our belief that gold will emerge as one of the largest asset classes for the Indian MF industry," said Sundeep Sikka, CEO, Reliance Mutual Fund.


      The scheme will be open for trading from March 14, the fund house said in a statement.

      India imported a record of over 900 tonnes of gold in 2010 as consumers expected a further rally in near-record prices.

      first published: Mar 9, 2011 04:27 pm

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