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After 33% returns in 3 months, this gold-mining mutual fund changes course. Here’s why

DSP World Gold Fund, which invests in an overseas mutual fund that buys shares of gold-mining companies, will now diversify into ETFs that invest in shares of gold miners. But that isn’t going to make the fund less risky.

January 25, 2023 / 10:15 AM IST
Representative image.

Representative image.

DSP World Gold Fund is changing its path. It will be called DSP World Gold Fund of Funds.

The scheme, India’s first that invests in an overseas mutual fund that buys shares of gold-mining companies, will now also invest in exchange-traded funds (ETFs) that invest in shares of gold miners.

This fund used to invest its entire corpus in Blackrock Global Funds – World Gold Fund (BGF). Now, in addition to the Blackrock fund, it will invest in VanEck Gold Miners ETF, iShares MSCI Global Gold Miners ETF and VanEck Junior Gold Miners ETF, among other, which offer exposure to shares of gold miners.

All this, after the scheme returned 33.82 percent in the three months ended January 23.