HDFC Mutual Fund has launched an open ended Gold Exchange Traded Fund, which aims to generate returns in line with the performance of gold. The scheme will invest 90% to 100% in gold bullion. Each unit, approximately equal to 1 gm of gold, will be issued at a premium equivalent to the difference between allotment price and face value. The new fund offer will be available from 25 June, 2010 to 23 July, 2010. Investors can investment a minimum amount of Rs 5,000. The scheme will not charge any entry and exit load. The scheme will be benchmarked against domestic price of physical gold.
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