Religare Mutual Fund has announced the launch of Religare Gold Fund - an open ended fund of fund scheme. It will invest in the units of Religare Gold ETF.
Investment Objective
This fund will invest in Religare Gold ETF. The investment objective of the scheme is to provide returns that closely correspond to returns provided by Religare Gold ETF.
Manager
Mr. Nitish Nikand is the fund manager of the scheme. He is a Commerce Graduate and an MBA in Finance. With over 8 years of experience in fixed income markets and product development, Mr. Nikand has worked with ICICI Bank Ltd as product manager, JM Financial Asset Management Company Pvt. Ltd. as fixed income analyst and Citicrop Maruti Finance Ltd. as relationship manager - Treasury. He also manages Religare Credit Opportunities Fund, Religare Mid-Term Bond Fund, Gold ETF and Fixed Maturity Plans.
Similar Fund
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Comparison between a Gold ETF and Gold Fund of Fund
If somebody invests Rs. 50,000 each in Religare Gold ETF & Religare Gold Fund, then
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*Delivery brokerages are in the range of 0.05% to 0.35%. They may vary among brokerage houses. **Rs. 500/- (recurring expenses of Religare Gold ETF @ 1%) + Rs. 250/- (recurring expenses of Religare Gold Fund @ 0.50%).
Our View
This scheme is well suited for people who do not have a demat account but want to invest in gold. You may invest upto 5 to 10 per cent of your overall portfolio in gold. One should always keep in mind when to get out of such a fund. Hence, ensuring a stop loss in such an investment is very important.
Basic Details:
NFO Opens: November 15, 2011
NFO Closes: November 29, 2011
NFO Price: Rs.10/- per unit
Options: Growth and Dividend
Minimum Application Amount: Rs. 5000/- & in multiples of Re.1/- thereafter
Exit Load: 2% if redeemed/switched out on or before 6 months, 1% after 6 months but before 1 year from the date of allotment.
Benchmark: Price of gold
Fund Manager: Mr. Nitish Sikand
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