Religare Gold ETF
Religare with a success story in the stock broking industry entered the mutual fund sector to capitalize its brand value and soon it came up with a gold exchange traded fund to tap the ever green gold market in India. With the competition at its peak, religare gold ETF could capture only a small market share. However, it’s still a good bet as far as the quality of service and tracking error are concerned.
Please find below full details about the Religare Gold ETF.
Fund Name: Religare Mutual Fund – Religare Gold Exchange Traded Fund
NSE Symbol: RELIGAREGO
BSE Scrip ID: RELIGAREGO
BSE Scrip Code: 533172
Face Value: 100
Fund Launch Date: March 2010
AMC: Religare Asset Management Company Limited
Exchanges for Trading: NSE and BSE
Fund Manager: Mr. Nitish Sikand
Scheme Type: Open ended Exchange Traded Fund
Benchmark: Domestic price of physical Gold
Can Distribute Dividends?: Yes
Fund Size: 43.58 Crore as at March end 2011
Registrar: Karvy Computershare Pvt. Ltd.
Entry Load: No entry load as per SEBI rules.
Exit Load: No exit load as the fund house doesn’t involve in redemptions. An investor can sell it on the exchange. Only brokerage charges are applicable.
Recurring Expenses (Total Expense Ratio): 2.5%
Minimum Investment: 1 Unit of RELIGAREGO on NSE and BSE
Lock in period: Nill
NAV announcement frequency: Every business day
Latest price of the Unit: Religare GOLD ETF Latest Price
As per Religare Gold ETF’s SID,
To generate returns that closely corresponds to the returns provided by investment in physical gold in the domestic market, subject to tracking error.
However, there is no assurance or guarantee that the investment objective of the Scheme will be achieved. The Scheme does not assure or guarantee any returns.
The fund will be managed passively with investments in physical gold and will endeavor to track the performance and yield of its underlying asset viz. gold. Investments in physical gold will be made regardless of any investment merit. The fund intends to follow a fully invested approach and will have a minimum exposure of 90% of its assets
in gold and gold bullion at all times. The fund may buy and sell gold at different points of time during the trading session which may or may not correspond to the closing price of gold, maintain cash to meet its liquidity requirement which may result in the Scheme having tracking error and to that extent the performance of the Scheme may not commensurate with the performance of its underlying asset.
However, the fund manager will try and minimize the tracking error to the fullest extent possible. The Scheme may also invest in the instrument having gold as underlying, as and when permitted by SEBI. Warehouse receipts and other permitted securities linked to gold prices and units of International Gold ETF are some of the instruments in which the
Scheme may invest as and when permitted by SEBI.
|Type of Asset||Minimum Investment %||Maximum Investment %||Risk Profile|
|Gold Bullion||90||100||Medium to High|
|Bonds and Money Market instruments||0||10||Low|
|Type of Asset||Investment %|
|Bonds and Money Market instruments||-0.3%|
Performance of the fund:
|Performance in last 6 months||9.54%|
|Performance in last 1 year||17.96%|
|Performance since inception||26.92%|
NB: Performance is based on NAVs as of May 26th 2011
Figures for more than one year are annualized.ADVERTISEMENTS