Schemes of Benchmark Mutual Fund to be Renamed

Mutual Funds

oi-Monika Nihalani

By Monika Nihalani

Published: Saturday, July 9, 2011, 13:24 [IST]

Recently Goldman Sachs Group has agreed to buy Benchmark Asset Management Company (AMC), India's largest provider of index-tracking funds.

Benchmark Asset Management Company was founded in 2001 and has so far launched the maximum number of ETFs in India. It has approximately Rs 3000 crore of assets under management.

Goldman will integrate the entire operations of Benchmark as well as its manpower and pursuant to this agreement, the schemes of Benchmark Mutual Fund will be renamed. Benchmark Mutual Fund presently has thirteen schemes in operation.

Change in the name of the schemes will not result in any change in the basic characteristics and fundamental attributes of the schemes (except the change in the fundamentals attributes of Liquid BeES), including the investment objectives of respective schemes.

Below are the proposed new names of the schemes:

1. Nifty Benchmark Exchange Traded Scheme (Nifty BeES - Goldman Sachs Nifty Exchange Traded Scheme (GS Nifty BeES)
2. Nifty Junior Benchmark Exchange Traded Scheme (Junior BeES) - Goldman Sachs Nifty Junior Exchange Traded Scheme (GS Junior BeES)
3. Banking Index Benchmark Exchange Traded Scheme (Bank BeES) - Goldman Sachs Banking Index Exchange Traded Scheme (GS Bank BeES)
4. PSU Bank Benchmark Exchange Traded Scheme (PSU Bank BeES) - Goldman Sachs PSU Bank Exchange Traded Scheme (GS PSU Bank BeES)
5. Shariah Benchmark Exchange Traded Scheme (Shariah BeES) - Goldman Sachs S&P CNX Nifty Shariah Index Exchange Traded Scheme (GS S&P Shariah BeES)
6. Infrastructure Benchmark Exchange Traded Scheme (Infra BeES) - Goldman Sachs Infrastructure Exchange Traded Scheme (GS Infra BeES)
7. Hang Seng Benchmark Exchange Traded Scheme (Hang Seng BeES) - Goldman Sachs Hang Seng Exchange Traded Scheme (GS Hang Seng BeES)
8. Liquid Benchmark Exchange Traded Scheme (Liquid BeES) - Goldman Sachs Liquid Exchange Traded Scheme (GS Liquid BeES)
9. Gold Benchmark Exchange Traded Scheme (Gold BeES) - Goldman Sachs Gold Exchange Traded Scheme (GS Gold BeES)
10. Benchmark Derivative Fund - Goldman Sachs Derivative Fund (GSDF)
11. Benchmark Equity & Derivatives Opportunities Fund (BEDOF) - Goldman Sachs Equity & Derivatives Opportunities Fund (GSEDOF)
12. Benchmark S&P CNX 500 Fund - Goldman Sachs S&P CNX 500 Fund (GS CNX 500)
13. Benchmark Short Term Fund - Goldman Sachs Short Term Fund (GSSTF)

Unit holders who are not in agreement with the aforesaid change will have an option to exit without payment of any exit load. This option can be exercised from 11 July 2011 to 10 August 2011.

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