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DSP Mutual Fund has launched DSP Gold ETF, an open-ended ETF replicating the domestic price of the gold.
In a press release, Anil Ghelani, CFA, Head – Passive Investments & Products, DSP MF said, “Just as it is important to have a well-balanced diet for good nutrition, we should consider having a well-diversified portfolio with some gold ETFs. Gold gives us an opportunity to hedge against a standard ‘equity-debt portfolio’ due to its low correlation with equity and often a negative correlation with debt as an asset class.”
“With bulk of interest rate hikes likely behind us and continued volatility from global uncertainty, gold prices are expected to see upward movement. With China opening up their economy and India seeing demand going back to pre-covid levels, jewellery and investment demand from the world’s two largest gold consumer nations is expected to pick up, building a good case for gold,” says Ravi Gehani, Fund Manager, DSP MF.
