Upcoming Webinar :Register now for 'ULIP as an investment during economic recovery' powered by Bajaj Allianz

Birla Sun Life MF launches Gold ETF

Birla Sun Life Mutual launches Birla Sun Life Gold ETF, an open ended gold exchange traded fund that aims to generate returns that is in line with the performance of gold, subject to tracking error.
Apr 15, 2011 / 03:40 PM IST

Birla Sun Life Mutual Fund has launched a new fund as Birla Sun Life Gold ETF, an open ended gold exchange traded fund. The investment objective is to generate returns that is in line with the performance of gold, subject to tracking error.


Birla Sun Life Gold ETF is a passively managed fund tracking the price of Gold and reflects the performance of the Gold price. The Fund would invest in physical gold of prescribed quantity and quality (fineness) and endeavor to track the spot price of gold. The scheme invests in gold regardless of investment merit.  (View - New Fund Offers open NOW)


The Fund would invest upto 100% in Physical Gold and/or upto 5% in debt and money market instruments to meet the liquidity requirements, subject to tracking error. The scheme may buy or sell gold at different points of time during the trading session at the then prevailing prices which may or may not correspond to its closing price, due to disinvestments to meet redemptions, transactions cost and recurring expenses, execution of large buy/sell orders etc.


The New Fund Offer (NFO) will be open for subscription from April 25, and close on May 9, 2011. The unit shall be issued at a premium equivalent to the difference between the allotment price and the face value of Rs 10 each. (Check out - Mutual Fund New Fund Listings)


Minimum investment amount is Rs 6000 and in multiples of Rs 2000 thereafter per application.


Entry / Exit Load : Nil


Benchmark: Domestic price of physical gold


The fund manager of the scheme will be Mr. Satyabrata Mohanty.

For more Mutual Fund News click here

stay updated

Get Daily News on your Browser
Sections