ICICI Prudential Gold Exchange Traded Fund : NFO

by khalid on 04/07/2010 · 3 comments

ICICI Prudential Mutual Fund has launched a New Fund Offer (NFO) named as ICICI Prudential Gold Exchange Traded Fund . This is an open ended GOLD ETFs . The objective of the fund is to provide investment returns that, before expenses, closely track the performance of domestic prices of Gold derived from the LBMA AM fixing prices. It will collect money from investors and generate returns which will be following the gold prices. It is reported that 90% to 100% of the capital will be invested in Gold and the ETF units will be created out of this, the remaining 10% or less will be kept in debt and money market securities to offer liquidity.

As we observed for last couple of months, the Gold prices have been shooting up the roof. So most of the investment management companies or mutual fund houses are coming up to introduce new ETF’s or Exchange Traded Funds in Gold. This one is launched from ICICI Prudential mutual fund , and HDFC mutual fund house has also launched the HDFC Gold Exchange Traded Fund : NFO

Entry load charge will not be applicable for the scheme. There will be no exit load on units bought or sold through the NSE and BSE.

Fund NameICICI Prudential Mutual Fund 1
Scheme Name ICICI Prudential Gold Exchange Traded Fund
Scheme CategoryOpen Ended (Gold ETFs)
NFO Launch Date30th Jun 2010
NFO Closure Date29th Jul 2010
NFO Price (Rs) 100
Min. Subscription Amount(Rs) 5000

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

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