The Hindu : Business : Gold fund from Merrill Lynch

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Friday, Jul 20, 2007
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Gold fund from Merrill Lynch

Special Correspondent

The new fund offer will open on July 25

— PHOTO: SHASHI ASHIWAL

GOLDEN OPPORTUNITY: Hemendra Kothari, Chairman, DSP Merrill Lynch Fund Managers, addressing a press conference in Mumbai on Thursday.

MUMBAI: DSP Merrill Lynch Fund Managers Ltd. on Thursday announced the launch of DSP Merrill Lynch World Gold Fund, an open ended fund, investing in gold mining companies through an international fund, with an objective of seeking capital appreciation by investing predominantly in the units of Merrill Lynch International Investments Fund - World Gold Fund (MLIIF-WGF).

This scheme is open-ended fund and not an exchange traded fund. The new fund offer (NFO) will open on July 25 and close on August 23.

Speaking on the occasion of the launch, S. Naganath, President and Chief Investment Officer of DSP Merrill Lynch Fund Managers, said, “Gold bullion has traditionally been a favoured savings instrument for the Indian household. DSP Merrill Lynch World Gold Fund will offer Indian investors the opportunity to benefit from the likely increase in gold prices and significantly enhance their return potential as compared to investing in physical gold or gold ETFs.”

The features of the scheme are: Minimum investment is Rs. 5,000. The entry load is at 2.25 per cent and the exit load is at 0.50 per cent for holding a period of less than six months.

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