Canara Robeco mutual Fund (MF) company had launched a fund - of - fund scheme called Canara Robeco gold savings fund, where the customers can invest in gold.
The new fund is an open-ended scheme, which will invest predominantly in units of Canara Robeco gold ETF.(Exchange Traded Fund).
Mr. Ritesh Jain, Investment Head, Canara AMC said, "Given the current global uncertainties, gold is fast becoming an alternate asset with increasing demand from many central bankers & investors globally. In the Indian domestic market too, rising investment demand, increased risk aversion & high inflationary conditions favour Gold as a good investment option for the next few years"
Minimum investment : Rs. 5,000
NFO closes on June 18, 2012.
Canara Robeco is a joint venture between state run Canara Bank & the Holland-based Robeco, which is an asset management specialist.
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