IDBI Gold ETF: Collects R110 crore in NFO

Mr. Debasish Mallick

IDBI Gold ETF (Exchange Traded Fund ), the NFO (New Fund Offer ) launched by IDBI Asset Management, has collected about  Rs 110 crore, predominantly from nearly 11,000 retail investors, including HNIs (Hhigh Net-worth Individuals ).

The NFO was open for subscription between October 19 and November 2 and the units allotted on November 9, 2011.

According to Mr. Debasish Mallick, MD, IDBI Asset Management's ''The NFO will be listed on NSE and BSE with effect from November 17".

IDBI Gold ETF is de signed with the purpose to invest in physical gold with an objective to replicate the performance of gold in prices. The fund will adopt a passive investment strategy and seek to achieve investment objectives of the scheme by minimising the tracking error between the fund and the underlying asset.

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