NFO Alert: Edelweiss Mutual Fund launches Edelweiss Gold ETF; all you need to know
Edelweiss Mutual Fund announced the launch of the Edelweiss Gold ETF, an open-ended exchange-traded fund replicating/tracking the domestic prices of gold.
The scheme opened for public subscription on November 02, 2023, and will close on November 06, 2023. The scheme re-opens for continuous sale and repurchase not later than November 10, 2023.
This is an open-ended exchange-traded fund replicating/tracking the domestic prices of gold.
The investment objective of the scheme is to generate returns that are in line with the performance of physical gold in domestic prices, subject to tracking error. However, there is no assurance that the investment objective of the scheme will be realised and the scheme does not assure or guarantee any returns.
Investors can invest under the scheme with a minimum investment of ₹5000 per plan/option and in multiples of Re 1. There is no upper limit for investment.
Under normal circumstances, the asset allocation of the scheme will be as follows:
Instruments
Indicative allocations
(% of total assets)
Risk Profile
Gold & Gold Related Instruments
95% to 100%
Moderate Risk to High Risk
Debt and Money Market Instruments
0% to 5%
Low Risk to Moderate Risk
To date, many asset management companies (AMCs) have launched such gold exchange-traded funds. These include:
Name of the fund
10-year returns (in %)
5.80
5.80
6.02
IDBI Gold Exchange Traded Fund
-
ICICI Prudential Gold ETF
-
Invesco India Gold ETF
5.86
Kotak Gold ETF
6.13
HDFC Gold Exchange Traded Fund
6.02
UTI Gold Exchange Traded Fund
-
Aditya Birla Sun Life Gold ETF
6.12
SBI- ETF Gold
-
Canara Robeco Gold Exchange Traded Fund
-
The performance of the scheme will be benchmarked against the domestic price of physical gold.
The AMC/Trustee
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