 "gold")
Gold(Picture: Shutterstock)
Groww Mutual Fund has launched an open ended fund that may supply buyers a brand new, cost-efficient and handy method to spend money on gold, it mentioned on Tuesday.
A Gold Trade-Traded Fund (ETF) is an funding fund traded on inventory exchanges and that seeks to reflect the value motion of bodily gold within the home market.
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The Groww Gold ETF goals to duplicate the home value of bodily gold, offering buyers a method to spend money on bullion with 99.5 per cent purity. This cost-effective funding possibility removes the trouble of buying, storing, or insuring bodily gold, whereas nonetheless permitting buyers to capitalize on value fluctuations.
Goal of scheme: The funding goal of the scheme is to generate returns akin to the entire returns of the securities as represented by the CRISIL-IBX AAA NBFC-HFC Index – Dec 2025 earlier than bills, topic to monitoring errors.
Benchmark: The scheme will likely be benchmarked in opposition to the home value of bodily gold.
Interval: The brand new fund supply (NFO) of the scheme is open for subscription and can shut on October 18.
Asset allocation: The scheme will allocate 95-100 per cent in gold (bodily and associated devices as permitted by the markets regulator) and 0-5 per cent in debt and cash market devices together with items of mutual funds.
Minimal funding: The minimal funding and extra buy quantity is Rs 500 and in multiples of Re 1 thereafter.
Exit load: There isn’t any exit load.
Expense ratio: The utmost complete bills ratio (TER) permissible beneath regulation 52 (6) (b) is as much as 1 per cent.
Fund supervisor: The fund is managed by Wilfred Gonsalves.
First Printed: Oct 08 2024 | 3:25 pm ist
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