Publish Date:
Mirae Asset Mutual Fund has launched – Mirae Asset Gold ETF
It is an open-ended scheme replicating/tracking Domestic Price of Gold
Accordingly, the investment objective is to generate returns that are in line with the performance of physical gold in domestic prices, subject to tracking error. The Scheme does not guarantee or assure any returns.
Under normal circumstances, Mirae Asset Gold ETF will hold an allocation of 95% to 100% of its assets in Gold and gold related instruments and 0% to 5% in Money market
instruments including Tri Party REPO/ debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds.
As per the Scheme Information Document, Mirae Asset Gold ETF aims to generate returns that are in line with the performance of physical gold in domestic prices, subject to tracking error. Investments made from the net assets of the Scheme would be in accordance with the investment objective of the Scheme and the provisions of the SEBI (MF) Regulations.
The scheme endeavours to achieve the investment objective by way of a judicious portfolio mix comprising Gold (includes physical Gold and other Gold related instruments which may be permitted by Regulator from time to time) and instruments related to gold (including derivatives as and when permitted by SEBI), Debt Securities and Money Market Instruments. Investments in gold (includes physical Gold and other Gold related instruments which may be permitted by Regulator from time to time) would be primarily assessed with regard to its fineness.
Mirae Asset Gold ETF’s performance will be benchmarked against Domestic Price of Physical Gold.
The scheme will be managed by Mr Ritesh Patel
The NFO opens for subscription on February 09, 2023 and closes on February 15, 2023. The schemes will reopen for continuous sale and repurchase on February 21, 2023.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5,000/- and in multiples of any amount thereafter.
The Scheme does not offer any Plans/Options for investment.