SBI gold fund introduces Gold Accumulation Facility

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SBI gold fund introduces Gold Accumulation Facility
SBI Gold Fund announces a unique gold accumulation facility. Now you can decide on a quantity of gold that you want to purchase every month. SBI Gold Fund invests its corpus in SBI GETS (Gold Exchange Traded Scheme).

Under this facility investor can opt for the SIP/STP installment in terms of the number of units of SBI GETS.

One unit of SBI GETS represent one gram of gold. Invest in SBI Gold Fund just like any other mutual fund scheme, providing you an opportunity to take exposure into Gold as an asset class, in a convenient way.

Click to know what are gold funds?

Terms & conditions for the Gold Accumulation Facility SIP:

  • Target scheme: SBI Gold Fund 
  • Frequency: Monthly & Quarterly 
  • Minimum units: 1 unit of SBI GETS & in multiples of thereof 
  • Maximum SIP instalment amount will be capped at Rs. 1 lakh.< 
  • Minimum number of instalments: 6 for monthly SIP & 4 for quarterly SIP. 
  • This facility will be available only through direct debit banks. 
  • Investor will mention number of units of SBI GETS as SIP instalment in SIP mandate form. 
  • Instalment amount will be calculated based on SBI GETS NAV, four business days prior to the due date, and will be rounded off to the nearest rupee and accordingly, units will be allotted for SBI Gold Fund. For example SIP due date is 5th January 2013. Installment amount will be calculated based on SBI GETS NAV of 1st January 2013. 
  • SIP is available only on specific dates of the month viz. 5th/10th/15th/20th/25th/30th (For February, last business day). In case 5th/10th/15th/20th/25th/30th (For February, last business day) is a holiday then next business day. 
  • All other terms & conditions of regular SIP will be applicable for Gold Accumulation Facility SIP in SBI Gold Fund.

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Read more about: sbi, gold fund
Story first published: Friday, May 10, 2013, 15:05 [IST]
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