Zerodha Mutual Fund launches Zerodha Gold ETF
Zerodha Mutual Fund on Friday announced the launch of Zerodha Gold ETF. The scheme is an open-ended, simple and low-cost ETF to take exposure to gold.
The new fund offer (NFO) of the scheme is open for subscription and will close on February 21. The scheme will re-open for continuous sale and repurchase within five business days from the date of allotment of units under the NFO.
The fund is expected to be listed on NSE and BSE exchanges by March 1, 2024.
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The scheme will be managed by Shyam Agarwal and benchmarked against the domestic price of physical gold.
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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.
The Zerodha Gold ETF Fund will invest 95%-100% in physical gold and gold-related instruments, 0%-5% in debt, money market instruments and cash and cash equivalents.
“Gold is typically viewed as a financial asset that maintains its value and purchasing power during Inflationary periods. The Gold ETF offers a simple and efficient way for you to invest in gold without the concern of storage and security. As Gold has a low correlation with equity, it reduces the overall volatility of your portfolio," said Vishal Jain, CEO, Zerodha Fund House.
The minimum investment amount is Rs 500 and in multiples of Rs 100 thereafter. The creation unit
