Not much details are out yet, but over the next few weeks, we are going to hear about it for sure!
Reliance is launching a gold fund.
This will be the first and only open ended scheme in India using which investors can invest in gold (the metal, not mining companies) without a demat account.
This is a fund of fund (FoF), which means that it will invest in gold ETFs underneath. We should know more about the costs involved (expense ratio) pretty soon.
But the convenience of having this instrument cannot be denied. Every time an investor asks if there is a gold fund, we’ve had to refer them to ETFs and they frown about needing a demat account. Now, at last, we can say that there is a fund that would track gold prices directly.
The fund will go NFO on February 14th and close on February 28th.
Reliance has always had an active marketing team when it comes to NFO. And this offering is a one of a kind offering in the market. So, be prepared to be bombarded about it in the days/weeks to come! 🙂
And, of course, we will carry the NFO on Fundsindia.com!
Investing in NFO is made simple with FundsIndia. Open a free FundsIndia account in less than 20 minutes for NFO investing.
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This is very good news… I was trying to see if there are any non demat options to invest in gold similar to ETF.. Looking forward towards this.. The FMC need to be looked out for and since it is FOF additional charges will also needs to be considered like which funds it buys into… If you could share what the range of cumulative charges will be compared to ETF will help in making the decision easier
Hello Vijay, Exactly…we are looking for details on the FMC and other FoF charges, if any. Should have the details next week, I think. My guess is that there will be a 0.75% FoF FMC on the fund like many other FoFs. Thanks, Srikanth
Hello Vijay, Exactly…we are looking for details on the FMC and other FoF charges, if any. Should have the details next week, I think. My guess is that there will be a 0.75% FoF FMC on the fund like many other FoFs. Thanks, Srikanth
This is very good news… I was trying to see if there are any non demat options to invest in gold similar to ETF.. Looking forward towards this.. The FMC need to be looked out for and since it is FOF additional charges will also needs to be considered like which funds it buys into… If you could share what the range of cumulative charges will be compared to ETF will help in making the decision easier