Canara Robeco Gold Savings Fund is an open-ended fund of fund scheme that aims to generate returns similar to Canara Robeco Gold Exchange Traded Fund, which is the underlying scheme.
The minimum amount for application is Rs. 5000; additional investments can be made in the multiples of Rs. 1000. An exit load of 2% will be charged on redemption / switch of units on or before 1 year from the date of allotment of units.
The scheme will invest 95% of the funds in the underlying scheme and the rest will be allocated to debt and money market instruments (including cash equivalents).
The fund will be managed by Akhil Mittal and benchmarked against domestic price of physical gold.
The scheme offers two options: growth and dividend. The dividend option comes with re-investment and payout facility.
