Mumbai:
Religare Mutual Fund has filed an offer document with SEBI to launch
Religare Gold Fund, an open ended fund of fund scheme.
The investment objective is to provide returns that closely correspond to returns
provided by Religare Gold Exchange Traded Fund.
The scheme would allocate
95-100 per cent of assets in Religare 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. The scheme will charge 2 per cent as
exit load if units are redeemed within 6 months from the date of allotment and
1 per cent if units redeemed after 6 months and on or before 1 year from date
of allotment. The fund will be managed by Nitish Sikand.
