HDFC Mutual Fund unveils HDFC Gold Fund

Published: Tuesday, October 11, 2011, 15:51 [IST]

HDFC Mutual Fund has unveiled a New Fund Offer (NFO), namely, HDFC Gold Fund (HGF). It's an open-ended debt scheme. This is Fund of Fund which will enable investors to invest systematically in gold, hedge their risks against market volatility and to effectively diversify their portfolio.

Investment Objective:
The investment objective of the Scheme is to generate returns that are in line with the performance of gold (and gold related instruments including derivatives as and when permitted by SEBI), subject to tracking errors.

The fund targets to raise a minimum subscription of Rs 1 crore under the scheme during the NFO period.

Allocation of funds:
The scheme shall invest 90-100% in Gold bullion and Investments in gold related instruments (including derivatives) if permitted by SEBI to invest in gold related instruments for medium term profile and invest upto 0-10% in the money market instruments with low to medium risk profile.

Basic Details:
NFO Opens: October 7, 2011
NFO Closes: October 21, 2011
NFO Price: Rs 100
Minimum Application Amount: Rs 5,000 per application and any amount, thereafter
Minimum SIP: Rs 1,000
Exit Load: Nil
Benchmark: Domestic price of gold

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Story first published: Tuesday, October 11, 2011, 15:51 [IST]

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