MF News IDBI plans to launch gold fund

IDBI plans to launch gold fund

IDBI Mutual Fund has filed an offer document with SEBI to launch its open-ended IDBI Gold Fund

Team Cafemutual Dec 19, 2011

Mumbai: IDBI Mutual Fund has filed an offer document with SEBI to launch its open-ended IDBI Gold Fund. The fund will invest in its recently launched IDBI Gold ETF which collected Rs. 110 crore.

The minimum application amount is Rs. 5,000. The fund will be benchmarked against domestic price of gold. The scheme will only have growth option. It carries 1% exit load if redeemed within a year.

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