Religare Gold Fund

Gold, Mutual Funds | admin | November 16, 2011 at 9:40 am

Religare Mutual Fund has launched a new fund namely, Religare Gold Fund an open ended fund of fund schemes. The new issue will be open for subscription from 15th November 2011 to 29th November 2011 at an offer price of Rs 10 per unit. The investment objective of the scheme is to provide returns which closely correspond to returns provided by Religare Gold Exchange Traded Fund. An exit load of 2% is payable if units are redeemed/ switched-out on or before 6 months from the date of allotment while if the if the units are redeemed/ switched-out after 6 months but before 1 year from the date of allotment an exit load of 1% will be charged. The performance of the scheme will be benchmarked against the prices of gold and will be managed by Mr Nitish Sikand.

Minimum Application Amount: Rs. 5,000 and in multiples of Re. 1 thereafter.

Minimum Targeted Amount: Rs. 1 crore

Asset Allocation: The scheme will invest upto 95%-100% in units of Religare Gold ETF with medium risk profile and invest upto 5% in money market with low to medium risk profile.

The scheme will not invest in securitized debt.