Mumbai:
Axis Mutual Fund has filed an offer document with SEBI to launch Axis
Gold Fund, an open ended fund of fund scheme.
The investment objective is to
generate returns that closely correspond to returns generated by Axis Gold
Exchange Traded Fund.
The scheme would allocate 95-100 per cent of assets in gold ETFs (primarily Axis Gold ETF) with medium risk profile. It would further invest upto 5 per cent of assets in money market instruments with low to medium risk profile.
The fund will be benchmarked against domestic price of gold. It offers growth and dividend option and will not charge any entry or exit load. The fund will be managed by Anurag Mittal.
