IDBI MF has launched the NFO of IDBI GOLD FUND, an open ended domestic fund scheme.
The NFO opens for subscription on July 25, 2012 and closes on August 23, 2012. During New Fund Offer (NFO) period (for new/additional purchases SIP/STP/SWP) no entry load is applicable, while an exit load of 1% for exit within 12 months from the date of allotment will be charged.
On an ongoing basis (for new/additional purchases SIP/STP/SWP) there will be no entry load , while an exit load of 1% for exit within 12 months from the date of allotment will be charged. The exit load will not be charged for transactions (resulting in redemption of units) executed after 12 months from the date of allotment.
The minimum subscription amount is Rs. 5000.
The scheme’s performance will be benchmarked against Domestic price of Gold and its fund manager is V Balasubramanian.
The investment objective of the scheme is to generate returns that correspond closely to the returns generated by IDBI Gold Exchange Traded Fund (IDBI GOLD ETF).
Source : Accord Fintech
