The rally in precious metal reflected in gold exchange traded funds as well. Birla Sun Life, Goldman Sachs, ICICI Prudential, Kotak, IDBI gold ETFs etc gained 2-7 percent.
Investment in Indian equity mutual funds by domestic retail investors has hit the highest since 2008, signalling the return of individual players drawn to a stock market that is outperforming physical assets such as gold and real estate.
The Budget has made an additional tax break of Rs 50,000 into the NPS investment under section 80CC(D) of the Income Tax Act. Currently, three MF houses, out of a total of 45, are having products in the pension segment and they are UTI MF, Franklin Templeton and the recently launched retirement product by Reliance Mutual Fund.
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