Benchmark Gold BeES NFO closes on February 23

Mumbai, Feb 19 (UNI) The Gold Benchmark Exchange Traded Scheme (Gold BeES) New Fund Offer (NFO), launched by Benchmark Asset Management Company, will close on February 23.

The Gold BeES is an open-ended exchange listed scheme that tracks domestic prices of gold through investments in physical gold, a company press release here said. Each unit of Gold BeES will be approximately equal to the price of one gram of gold, the release said.

An investor can start by investing as little as Rs 10,000 and thereafter in multiples of Rs 1,000, the release said adding that there is no upper limit for investment.

The Gold BeES will be listed on the National Stock Exchange (NSE) and investors can buy or sell units from the secondary markets on the NSE, the release said.

During the NFO, which had commenced on February 15, there will be entry load ranging from 1.5 per cent to zero per cent and on the ongoing basis there will be no load. However, total expense ratio of the fund will not exceed 1 per cent per annum.

UNI