SBI Mutual Fund launches gold fund
SBI Mutual Fund|sbi gold fund
Gold prices have shot through the roof. That simply means it is becoming increasingly difficult - for both buyers and investors - to purchase even two grams of gold today. The rising price of the yellow metal has made it beyond the reach of many. But one option still available for investors are the schemes launched by mutual fund houses. SBI MF is the latest fund house to launch a gold fund, called the SBI Gold Fund.
The new fund offer (NFO) is open for subscription since August 22 and will close on September 5. The NFO price for the scheme is 10 per unit.
This scheme will invest 95%-100% of assets in units of SBI Gold ETF, with the option to put 5% in the reverse repo/CBLO/short-term fixed deposits and/or schemes investing predominantly in the money market securities or liquid schemes. The minimum application amount is 5,000 under the lump-sum investment option.