SBI Mutual Fund launches gold accumulation facility

MUMBAI: SBI Mutual Fund today launched a gold accumulation facility fund that would allow investors to invest in the scheme based on a specific quantity of the fund house's ETF unit.

"A customer research says that investors generally prefer investing in gold on the basis of quantity more than its value. With the gold accumulation facility, SBI gold fund now offers one of the best investment opportunities to the investors," SBI MF managing director and CEO Deepak Chatterjee said.

Earlier, SBI gold fund investors could invest only by value of SIP amount alone and not by quantity.

With the introduction of this facility, it would now be additionally possible for investors to invest on the basis of quantity of gold (grammage) via the same systematic investment plan and systematic transfer plan (STP) route.

SBI Gold Fund is an open ended fund, which enables the common man to invest systematically in gold without the need of buying and storing physical gold and that too without a demat account.