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Benchmark Mutual Fund launches Gold BeES

February 2nd, 2007

Benchmark Mutual Fund has become the first to bring the Gold Exchange Traded Fund (GETF) to the market and has set a new milestone in the Indian Mutual Fund Industry. The NFO of the Gold Benchmark Exchange Traded Scheme (Gold BeES) will be open from Feb 15 to 23, 2007. Rs. 10,000 is the minimum investment and investors can put in multiples of Rs. 1000 thereon.

Here is some info on this:

Gold Benchmark Exchange Traded Scheme (Gold BeES) offers investors an innovative, cost-efficient and secure way to access the gold market. Gold BeES is intended to offer investors a means of participating in the gold bullion market without taking physical delivery of gold, and to buy and sell on National Stock Exchange (NSE).

UTI Mutual Fund, Kotak Mutual Fund, Prudential ICICI and Tata Mutual Fund have all filed draft offer documents with SEBI for their Gold ETF funds and are in various stages of processing.

Many Personal Finance Advisors say that prudent investors can add Gold ETFs to their portfolio to have a proper balance and weightage to their wealth generation plan.

Entry Filed under: Mutual Funds, Gold ETF