HDFC Mutual Fund has launched a new open ended Gold Exchange Traded Fund (ETF) namely, HDFC Gold Exchange Traded Fund. The new fund offer will be available from 25th June, 2010 to 23rd July, 2010. The minimum investment amount of the scheme is Rs 5,000. The investment objective is to generate returns that are in line with the performance of gold, subject to tracking errors. The scheme will invest 90 per cent to 100 per cent in gold bullion with medium to high risk profile. The scheme may also invest up to 10 per cent in debt securities and money market Instruments with low risk profile. The scheme will charge any entry and exit load. The scheme will be benchmarked against price of gold.
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