The fund house has filed offer document with SEBI to launch its Baroda Pioneer Global Equity - Gold & Mining Fund and Baroda Pioneer Gold Fund
Mumbai: Baroda Pioneer MF today filed two offer documents with SEBI to launch an open ended Baroda Pioneer Global Equity - Gold & Mining Fund and a Baroda Pioneer Gold Fund.
Baroda Pioneer Global Equity Fund, an open ended overseas fund of fund will predominantly invest (65 percent) in units of Pioneer Funds - Gold & Mining Fund. It will invest up to 35 percent in money market securities and/or units of money market/liquid schemes of Baroda Pioneer Mutual Fund.
The fund will be managed by Uzair Pradhan. Benchmarked against MSCI World Metals & Mining, the fund can also invest in other similar overseas mutual funds. Pioneer Funds - Gold & Mining Fund was launched in July 2008.
The fund will carry an exit load of 1 percent if redeemed before one year.
Pioneer Funds - Gold & Mining Fund is a Sub-Fund under Pioneer Funds which invests primarily in a diversified portfolio of equities and equity-linked instruments issued by companies primarily involved, directly or indirectly, in the business of mining, processing, fabricating, distributing or otherwise dealing in gold and other metals or minerals.
It does not hold physical gold or metal and has maximum flexibility to invest in any geographical region. There is no restriction on the proportion of this Sub-Fund’s assets that can be invested in any one geographical region. Pioneer Funds - Gold & Mining Fund’s base currency is Euro.
Gold Fund
The fund house has also filed offer document to launch a domestic gold fund of fund which will invest in existing gold ETFs. Investors can invest a minimum of Rs. 5,000 during its NFO. The scheme will carry 2 percent exit load if redeem before six months and 1 percent if redeemed before one year. The fund will be managed by Dipak Acharya.
