Reliance Gold ETF listed on NSE (On Nov 27 , 2007)
Reliance Gold Exchange Traded Fund has been listed on NSE on 26 November 2007. The fund was initially available for subscription from 15 October 2007 to 01 November 2007. An investor can now buy or sell units of RGETF on a continuous basis on the National Stock Exchange and or other recognised stock exchanges where units are listed and traded like any other publicly traded securities at market prices which may be close to the actual NAV of the scheme. This open-ended fund launched at a face value of Rs. 100 will track domestic prices of gold through investments in physical gold. The fund aims to provide returns that closely correspond to the return provided by the price of gold through investment in physical gold. The performance of the scheme may differ from that of domestic price of gold due to expense and other related factors. Around 90-100 per cent of investments would be allocated to physical gold and gold related instruments. Debt and money market component in the portfolio would be upto 10 per cent. Three of India’s 32 mutual fund firms offer gold exchange traded funds collectively worth 3.25 billion rupees at the end of September while Tata, OptiMix and ICICI Prudential mutual funds are also among those seeking entry.
Tags: Indian Mutual Funds, Mutual Funds in India, Reliance Gold Exchange Traded Fund, Reliance Mutual Funds