Axis Gold ETF : NFO

by khalid on 22/10/2010 · 1 comment

Axis Mutual Fund has launched a New Fund Offer (NFO) named as Axis Gold ETF. This is an open ended Gold Exchange Traded Fund. The scheme offers investors the opportunity to invest in Gold without actually bearing the risk of storage and safekeeping. Domestic price of gold will be the benchmark for the scheme. The investment objective of the Scheme is to generate returns that are in line with the performance of gold. Domestic price of gold will be the benchmark for the scheme. Axis Mutual Fund was set up on September 4, 2009 and sponsored by Axis Bank Limited. Assets of Axis Mutual Fund are managed by Axis Asset Management Company Limited.

During New Fund Offer period, each unit of the scheme will be issued at a face value of Rs 100 plus premium equivalent to the difference between the allotment price & the face value of Rs 100. Post the NFO period units of the scheme will be listed on the National Stock Exchange and can be traded like equity shares.

Entry load and Exit Load will not be applicable for the scheme. Mr. Anurag Mittal is the Fund Manager of the plan.

The scheme will allocate 95% – 100% of assets in gold with medium risk profile. It would further allocate upto 5% of assets in money market instruments with low to medium risk profile.

Fund NameAxis Mutual Fund
Scheme Name Axis Gold ETF
Scheme CategoryOpen Ended (GOLD ETFs)
NFO Launch Date20th Oct 2010
NFO Closure Date3rd Nov 2010
NFO Price Rs 100 (FV) + Premium
Min. Subscription AmountRs 5,000, in case of AP - 1 kg. of gold

For Further Details Please Visit Website : www.axismf.com

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