SBI Funds plans to launch Gold ETF
SBI Funds plans to launch a Gold Exchange Traded Fund (Gold ETF) and has sought the Sebi approval to launch the product.
By PTI |
MUMBAI: SBI Funds, a joint venture between the country's largest lender the State Bank of India and Societe Generale Asset Management (France), plans to launch a Gold Exchange Traded Fund (Gold ETF) and has sought the Sebi approval to launch the product, a top official said.
"We have filed an offer document with Sebi to launch the product," SBI Funds Chief Investment Officer, Sanjay Sinha said here on Wednesday.
Gold ETF, which is a relatively new product in India, will be listed and traded in the stock exchanges and would offer an unique investment property for investors who wish to invest in gold.
Gold ETF were first introduced in the domestic market in early last year.
Mutual Funds that presently offers Gold ETFs in India include UTI MF, Reliance MF, Benchmark MF, Tata Asset Management, Escorts and Prudential ICICI.
"We have filed an offer document with Sebi to launch the product," SBI Funds Chief Investment Officer, Sanjay Sinha said here on Wednesday.
Gold ETF, which is a relatively new product in India, will be listed and traded in the stock exchanges and would offer an unique investment property for investors who wish to invest in gold.
Gold ETF were first introduced in the domestic market in early last year.
Mutual Funds that presently offers Gold ETFs in India include UTI MF, Reliance MF, Benchmark MF, Tata Asset Management, Escorts and Prudential ICICI.
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