Kotak Gold Savings Fund : NFO opening on 4th Mar 2011

by khalid on 02/03/2011 · 3 comments

Kotak Mahindra Asset Management Company has launched a New Fund Offer(NFO) named as Kotak Gold Savings Fund. This is second Gold savings Fund of Fund in the market which is similar to Reliance Gold Savings Fund launched last month. Investing in Gold has now become very easy and anyone can invest in gold , in paper form, without any Demat account or a locker. This is unlike the existing gold investments in Exchange Traded Fund (ETF) mode where a Demat account is mandatory. This is an open ended fund. The Fund seeks to provide returns that closely correspond to returns provided by Kotak Gold Exchange Traded Fund launched in 2007 which in turn invests in physical gold. This product will offer a simple, affordable and investor friendly solution for investing in Gold to the masses. Kotak Mahindra Mutual Fund is sponsored by Kotak Mahindra Bank Limited, which is part of the Kotak Mahindra Group.

There is no need of Demat account, no locker required, no need of jeweler and even no wealth tax have to be paid if you chose to invest in this Kotak Gold Savings Fund.

The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 4th March 2011 and closes on 18th March 2011.

With monthly investments starting at Rs 100, this product introduces affordable gold investments to all sections of society. Gold as an asset class provides an opportunity to enhance portfolio returns over a period of time and acts as a perfect diversifier for one’s existing investment portfolio.

This fund enables the investor to avail long-term taxation benefits from first year, unlike physical gold wherein long-term taxation can be availed after three years.

Entry load : NIL
Exit load : 1% if redeemed/switched out on or before completion of 1 yrs from the date of allotment.

Mr Abhishek Bisen and Pankaj Tibrewal will manage the fund.

Fund NameKotak Mutual Fund
Scheme Name Kotak Gold Savings Fund
Scheme CategoryOpen Ended (Fund of Funds - Domestic)
NFO Launch Date4th Mar 2011
NFO Closure Date18th Mar 2011
NFO Price (Rs) 10
Min. Subscription Amount(Rs) 10000

For Further Details Please Visit Website : Kotak Mutual Fund

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{ 2 comments… read them below or add one }

B. Sachidananda Hegde March 4, 2011

I am interested in investing in the new Gold fund. Kindly let me know whether any SIP provision exists and it could be executed.

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khalid March 4, 2011

Hi Hegde,

Reliance and Kotak has come up with these Gold saving funds and you can invest in them with SIP option too.

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