IDBI MF has filed an offer document for IDBI Gold Exchange Traded Fund
Mumbai: IDBI Mutual Fund has filed
an offer document with SEBI to launch IDBI Gold Exchange Traded Fund (ETF), an
open ended gold exchange traded scheme.
The investment objective is to replicate the
performance of gold in domestic prices. The ETF will adopt a passive investment
strategy and will seek to achieve the investment objective by minimizing the
tracking error between the fund and the underlying asset.
The scheme would allocate
95-100 per cent of assets in gold and gold related instruments with medium risk profile. It would further invest up to
5 per cent of assets in money market instruments with low to medium risk
profile.
The fund will be benchmarked against domestic price of physical gold. The fund will be managed by Gautam Kaul.
