SBI Mutual Fund has launched an open
ended fund of fund schemes called SBI Gold Fund
Mumbai: The NFO will be open from August
22, 2011 to September 05, 2011
The investment objective
is to provide returns that closely correspond to returns provided by SBI Gold
Exchange Traded Scheme (SBI GETS). The scheme will allocate 95 to 100 per
cent of assets in units of SBI GETS with medium to high risk profile. It would
further allocate up to 5 per cent of assets in reverse repo and /or CBLO and/or
short-term fixed deposits and/or schemes which invest predominantly in the
money market securities or liquid schemes with low to medium risk profile.
The minimum application amount will be Rs 5,000. The scheme will charge 1 per cent as exit load if investments are redeemed within 1 year from the date of allotment. The scheme will be managed by Raviprakash Sharma. It will be benchmarked against the price of physical gold.
