Mumbai: HDFC Mutual Fund has filed
an offer document with SEBI to launch HDFC Gold Fund, an open ended fund of
fund scheme.
The investment objective is to seek capital appreciation by investing in units of
HDFC Gold Exchange Traded Fund. The scheme
would allocate 95-100 per cent of assets in HDFC gold ETF with
medium to high risk profile. It would further invest upto 5 per cent of assets in
reverse repo and /or CBLO and / or money market instruments and/or Schemes
which invest predominantly in the money market securities or Liquid Schemes
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 Anil Bamboli.
