Mumbai, Jan 23 (UNI) Quantum Mutual Fund, pioneers of direct to investor and low cost mutual funds, is launching its first commodity related offering 'Quantum Gold Fund', an exchange traded fund.
According to Qauntum Mutual Fund CEO Mr Devendra Nevgi, the new scheme would be the first Gold ETF in the country without any entry load. The New Fund Offer (NFO) of the scheme would be open tomorrow and it will close on February 8, 2008.
Investors can subscribe to the scheme with a minimum investment of Rs 5,000 and further multiples of Rs 1,000. Subsequent to the NFO, the Quantum Gold fund units are proposed to be listed on the National Stock Exchange (NSE) within 30 days of the allotment.
Investors can then buy or sell the Quantum Gold Fund units on the Exchange, through any broker-member.
"The underlying physical gold per unit of Quantum Gold Fund is approximately equal to half a gram. It is the first time such a low unit gold fund has been introduced in India'', he said.
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