Mirae Asset Mutual Fund Launches Gold ETF Fund Of Fund

Mirae Asset Investment Managers (India) Pvt. Ltd. has announced the launch of Mirae Asset Gold ETF Fund of Fund, an open-ended fund of fund scheme investing in units of the Mirae Asset Gold ETF. The fund aims to provide long-term capital appreciation by offering exposure to domestic gold prices, a proven safe-haven asset, highlighted by Mirae Assets.

NFO Details

The New Fund Offer (NFO) for the Mirae Asset Gold ETF Fund of Funds will start on October 16 and closes on October 22, 2024. The program will re-open for continuous sale and buyback on October 28, 2024. During the NFO period, the minimum investment is Rs 5,000, with successive investments increasing by multiples of Re 1.

The fund will be managed by Akshay Udeshi and Ritesh Patel. Investing in the Mirae Asset Gold ETF, which is backed by physical gold verified by the LBMA with a purity of 99.5 per cent or greater, gives investors exposure to domestic gold prices, according to Mirae Asset.

Siddharth Srivastava, Head of ETF Product and Fund Manager at Mirae Asset stated, “Mirae Asset Gold ETF Fund of Fund offers investors a simple yet effective way to diversify their portfolios and gain exposure to gold. With gold’s historic role in preserving value during inflationary periods and economic downturns and acting as wealth creator over the long run, this fund aims to provide an opportunity for investors to strengthen their portfolios and navigate challenging times.”

Who Should Invest?

This fund is suitable for investors who wish to diversify their portfolios with gold, especially as a hedge against inflation and market volatility, says Mirae Asset. It is appropriate for people seeking long-term financial development through gold exposure while avoiding the risks associated with actual gold storage. This fund may also assist investors who want to improve their portfolios amid periods of global turmoil and economic volatility.