Mumbai: Reliance Mutual Fund’s latest offering Reliance Gold Savings Fund has mopped up around Rs 500 crore approximately during its NFO, according to three people familiar with the development. The NFO opened on 14 February 2011 and closed on 28 February 2011. The scheme re opens for subscription on 14 March, 2011.
It is one of the first schemes to provide an SIP option in gold ETF to retail investors who have so far shied away from investing in ETFs via the demat route. After its launch, a host of other fund houses like UTI, SBI, HDFC and Benchmark are set to launch gold funds to attract retail investors as Cafemutual had first reported.
