Birla Sun Life Mutual Fund is the top mutual funds investment companies in India offers wide portfolio of the best mutual funds. The company has launched a New Fund Offer (NFO) named as Birla Sun Life 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, subject to tracking errors. Domestic price of gold will be the benchmark for the scheme. Birla Sun Life Mutual Fund is a joint venture between Aditya Birla Group and Sun Life Financial Services of Canada.
The New Fund Offer (NFO) price for the scheme is Rs 10 per unit at a Premium equivalent to the difference between the allotment price and the face value of Rs 10 each. The new issue is open for subscription from 25th April 2011 and closes on 9th May 2011. Post the NFO period units of the scheme will be listed on the National Stock Exchange and can be traded like equity shares.
NFO Opens : 25th April 2011
NFO Closes : 9th May 2011
The fund manager would invest upto 100% in Physical Gold and/or upto 5% in debt and money market instruments to meet the liquidity requirements, subject to tracking error. The scheme may buy or sell gold at different points of time during the trading session at the then prevailing prices which may or may not correspond to its closing price, due to disinvestments to meet redemptions, transactions cost and recurring expenses, execution of large buy/sell orders etc.
Entry Load : NIL
Exit Load : NIL
Fund Manager : Mr. Satyabrata Mohanty
|Fund Name||Birla Sun Life Mutual Fund|
|Scheme Name||Birla Sun Life Gold ETF|
|Scheme Category||Open Ended (GOLD ETFs)|
|NFO Launch Date||25th Apr 2011|
|NFO Closure Date||8th May 2011|
|NFO Price||(Rs) 10|
|Min. Subscription Amount||(Rs) 6000 and in multiples of Rs 2000 thereafter|
For Further Details Please Visit Website : www.birlasunlife.com Google+