IDBI plans to launch a Gold Fund - Indian IPO Blog

Sunday, January 15, 2012

IDBI plans to launch a Gold Fund

IDBI Mutual Fund has filed an offer document with SEBI to launch its open-ended IDBI Gold Fund. The fund will invest in its recently launched IDBI Gold ETF

It must be noted that this is not the Gold Exchange Traded Fund of IDBI, but would be a different fund altogether which would in turn, invest in IDBI Gold ETF

The minimum application amount is Rs. 5,000. The fund will be benchmarked against domestic price of gold. The scheme will only have growth option. It carries 1% exit load if redeemed within a year.

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