Not much details are out yet, but over the next few weeks, we are going to hear about it for sure!
Reliance is launching a gold fund.
This will be the first and only open ended scheme in India using which investors can invest in gold (the metal, not mining companies) without a demat account.
This is a fund of fund (FoF), which means that it will invest in gold ETFs underneath. We should know more about the costs involved (expense ratio) pretty soon.
But the convenience of having this instrument cannot be denied. Every time an investor asks if there is a gold fund, we’ve had to refer them to ETFs and they frown about needing a demat account. Now, at last, we can say that there is a fund that would track gold prices directly.
The fund will go NFO on February 14th and close on February 28th.
Reliance has always had an active marketing team when it comes to NFO. And this offering is a one of a kind offering in the market. So, be prepared to be bombarded about it in the days/weeks to come! 🙂
And, of course, we will carry the NFO on Fundsindia.com!
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