ICICI Prudential Mutual Fund has launched a new open ended Exchange Traded Fund (ETF) scheme, ICICI Prudential Gold Exchange Traded Fund. The new fund offer will be available from 28th June, 2010 to 27th July, 2010. The minimum investment amount of the scheme is Rs 5,000. The investment objective is to provide investment returns that, before expenses, closely track the performance of domestic prices of Gold derived from the LBMA AM fixing prices. The scheme would allocate 95 per cent to 100 per cent of assets in gold bullion and instruments with gold. It would further allocate up to 5 per cent of assets in debt & money market instruments. Investments in securitised debt shall be limited to the maximum exposure allowed to the debt instruments as per above asset allocation. The scheme will be managed by Mr. Chaitanya Pande and will be benchmark against Price of Gold.
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