Gold ETFs glitter; grow a whopping 62% in 2011-12

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Gold ETFs glitter; grow a whopping 62% in 2011-12
Gold Exchange Traded Fund (ETF) which track the price of gold, continued to lure investors in 2011-2012 with sizeable investment interest.

Gold ETFs saw staggering net inflows of Rs 3,646 crores, growing by a whopping 62% in 2011-12, in comparison to the previous year, according to the monthly report from the Association of Mutual Funds in India.

Risk averse investors have been opting for Gold ETFs, considering that risky assets like equities have invariably failed to provide decent returns in the last few years.

Gold ETFs are funds which investors can hold in electronic form and generally track physical gold rates.

A number of Gold ETFs were launched in 2011-12, the more recent being Canara Robeco Gold Exchange Traded Fund and Motilal Oswal MOSt Shares Gold ETF (open ended Gold ETF), both of which garnered Rs 42 crores in March.

Investment in Gold ETF is expected to increase this month as Akshaya Tritiya falls on April 24. As per Hindu custom/religion buying gold on that day is considered auspicious.

Read more about: gold, etf, investment
Story first published: Thursday, April 12, 2012, 14:10 [IST]
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