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Zerodha Fund House has launched Zerodha Gold ETF FoF (Fund of Funds), an open-ended fund of fund scheme investing in units of gold ETF.
The FoF will invest 95%-100% in units of underlying gold ETF while 0%-5% fund allocation will be in debt securities and money market instruments.
In a press release, Vishal Jain, CEO, Zerodha Fund House said, “Gold is commonly seen as a commodity that retains its worth and buying power in times of inflation. This fund provides a convenient and effective method for investing in gold without worrying about storage or security. As gold has a low correlation with equity, it helps to lower the overall volatility of your investment portfolio."
Vaibhav Jalan, CBO, Zerodha Fund House added, " The option to invest via SIP allows investors to gradually build their exposure to gold over time, making it an ideal solution for both first-time and seasoned investors."
The minimum amount for application is Rs.500 and in multiples of Rs.1 thereafter.
