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Benchmark AMC completes allotment for Gold BeES

CHENNAI: Benchmark Asset Management Company has completed the allotment process for Gold BeES, India's first gold ETF. The base price for allotment (that is, before considering applicable entry load in the new fund offer) works out to Rs. 945.7631. Each unit of Gold BeES is approximately equal to the price of one gram of gold. The allotment price is arrived at after investment of money collected in the NFO. In addition to the base price, investors have been charged an entry load of 1.5 per cent to zero per cent depending on the amount of application, says a release.

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