Mumbai: SBI Mutual Fund has filed
an offer document with SEBI to launch SBI Gold Fund, an open ended fund of fund
scheme.
The investment objective is to seek capital appreciation by investing in units of
SBI Gold ETF. The scheme would allocate
95-100 per cent of assets in SBI gold ETF with medium to high
risk profile. It would
further invest up to 5 per cent of assets in debt and money market instruments
with low to medium risk profile.
The fund will be
benchmarked against domestic price of gold. The scheme will charge 1 per cent
exit load if units are redeemed within a year from the date of allotment. The
fund will be managed by Raviprakash
Sharma.
