SBI Gold Fund Launched by SBI Mutual Fund

Saturday, August 27, 2011

Recently, SBI Mutual Fund launched a new fund - SBI Gold Fund. It is an open-ended fund to enable investors to invest systematically in gold and gain advantage of the recent rally in the metal’s prices.

An online news portal about business and economy - economictimes.indiatimes.com, quotes a statement of Deepak Chatterjee who is the SBI MF Managing Director and Chief Executive Officer,
“It is a convenient product and will give an opportunity to an investor to invest in the purest form of gold without the need of buying and storing physical gold, that too, without a dematerialised account unlike gold exchange traded funds.”


So, SBI Gold Fund will give an opportunity to an investor to invest in the gold without buying and storing it. It is just like gold exchange traded funds.

He added,
“There was a demand for ETFs and the assets under ETF schemes in the country crossed Rs 6,000 crore last month.”


SBI Gold Fund will open on August 22 and close on September 5, 2011. Investors have to invest minimum Rs. 5000 in this fund.

The portal quotes another statement of SBI MF Chief Investment Officer Navneet Munot,
“Gold could show some volatility in future and hence the SIP route makes more sense. Looking at the current global economic conditions and stock market volatility, gold is a better option.”


So, gold is a better option to see the economic conditions and stock market volatility. In this situation, SBI Mutual Fund launches SBI Gold Fund to grab the investors from the market.

Gold loans and investment in gold are the main market in India these days. Loan against Gold Units of Reliance Commercial Finance and Loans against Gold ETF Units of Muthoot Finance are the most effective products of the recent days. Now, SBI Mutual Fund has introduced SBI Gold Fund to grab Indian market.

0 comments:

Post a Comment

Contact Us

http://propertyonwheel.blogspot.in/ is a financial blog of my sole opinions, views, reviews and thoughts. The blog site links to other third party sites also related to the blog site content. Do not copy content (text/images) without permission of the blog's owner. The blog takes your privacy as prime concern and you agree to abide by the terms & conditions of the blog by visiting it. Contact Us - riturajji (at the rate of) gmail (dot) com.

New Posts

Your Views