The NFO for the Mirae Asset Gold ETF Fund of Fund will open for subscription on October 16 and close on October 22. The scheme will re-open for continuous sale and repurchase starting October 28 and will be managed by Ritesh Patel and Akshay Udeshi. The minimum initial investment during the NFO will be Rs 5,000, with subsequent investments in multiples of Re 1.
Mirae Asset Gold ETF Fund of Fund provides investors with exposure to domestic gold prices by investing in the Mirae Asset Gold ETF. The underlying ETF is backed by physical gold certified by the London Bullion Market Association (LBMA), ensuring a purity of 99.5% or higher. The scheme offers advantages such as lower costs, no storage fees, and reduced purity risks compared to owning gold directly for investment purposes, according to a press release from the fund house.
The scheme is suitable for those seeking investments predominantly in units of Mirae Asset Gold ETF and to generate long-term capital appreciation/income.
