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 Name||Kotak Mutual Fund|
|Scheme Name||Kotak Gold Savings Fund|
|Scheme Category||Open Ended (Fund of Funds - Domestic)|
|NFO Launch Date||4th Mar 2011|
|NFO Closure Date||18th Mar 2011|
|NFO Price||(Rs) 10|
|Min. Subscription Amount||(Rs) 10000|
For Further Details Please Visit Website : Kotak Mutual Fund Google+