ICICI Prudential Asset Management Company has launched ICICI Prudential Gold Exchange Traded Fund, an open-ended fund.
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ICICI Prudential Gold Exchange Traded Fund, an open-ended exchange traded fund, aims to provide investment returns that, before expenses, closely track the performance of domestic prices of Gold derived from the LBMA AM fixing prices.
Investment Philosophy
This fund is a passively managed open-ended Exchange Traded fund, which invests in gold bullion and instruments with gold as underlying, so as to provide investment returns that, before expenses, closely track the performance of domestic prices of Gold derived from the LBMA AM fixing prices. The fund is not actively managed and it does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of gold.
Investor Profile
This fund is ideal for -
- Investors looking to diversify from other asset classes like Equity, Debt & Real Estate.
- Investors who already have physical gold holdings.
Its cost is lower than buying, storing and insuring physical gold.
Gold can be bought and sold in small quantities - as low as 1 unit (approximately equivalent to 1 gram of gold.
Unlike jewellery or coins or bars, ETF units can be liquidated easily to benefit from rise in price of gold.
Purity of gold purchased will be 99.50% or higher.
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