Reliance Gold Savings Fund : NFO opening on 14th Feb 2011

by khalid on 17/02/2011 · 3 comments

Reliance 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 Reliance Gold Savings Fund. This is the first gold fund of fund in India which opens new avenue for investing 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 Reliance Gold Exchange Traded Fund (RGETF) 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.

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 Reliance 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 14th February 2011 and closes on 28th February 2011.

Hiren Chandaria will be the fund manager of the open-ended Reliance Gold Savings Fund.

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 : 2% if redeemed/switched out on or before completion of 1 yrs from the date of allotment.

Fund NameReliance Mutual Fund
Scheme Name Reliance Gold Savings Fund
Scheme CategoryOpen Ended (Fund of Funds - Domestic)
NFO Launch Date14th Feb 2011
NFO Closure Date28th Feb 2011
NFO Price (Rs) 10
Min. Subscription Amount(Rs) 5000 and in multiples of Re 1 thereafter.

For Further Details Please Visit Website : http://www.reliancemutual.com/

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{ 2 comments… read them below or add one }

dr praveen kumar srivastava February 21, 2011

please sent me detailed information about Reliance Mutual Fund.
my contact no.—9415021917

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devesh jha February 22, 2011

os that

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