ICICI Prudential Mutual Fund has launched an open ended fund of fund scheme called ICICI Prudential Regular Gold Saving Fund
Mumbai: The NFO will be open from September 20, 2011 to October 4, 2011
The investment objective is to generate returns by investing in units of ICICI Prudential Gold Exchange Traded Fund (IPru Gold ETF). The scheme will allocate 95 to 100 per cent of assets in units of ICICI Prudential Gold Exchange Traded Fund with medium to high risk profile. It would further allocate up to 5 per cent of assets debt and money market instrument with low to risk profile.
The minimum application amount will be Rs 5,000. The scheme will charge 2 per cent as exit load if investments are redeemed within 1 year from the date of allotment. The scheme will be managed by Chaitanya Pande. It will be benchmarked against the price of physical gold.
