The New Fund Offer of the fund is open and will close for subscription on February 15.
The scheme will be managed by Ritesh Patel. The minimum subscription amount is Rs 5,000 and in multiples of Re 1 thereafter.
The investment objective of the scheme is to generate returns that are in line with the performance of physical gold in domestic prices, subject to tracking error.
In 2023, Inflation and central bank intervention through policy rates may be considered as the key gold driver in 2023. The launch comes at a time when external global dynamics create challenges for the growth of the domestic and global economy making gold a relatively safe haven for investors. Gold can be assessed by investors as an important component of asset allocation, Mirae Asset MF said.
“Historically, gold has increased risk-adjusted returns in a portfolio during recessionary phases & economic downturns. Gold retains its purchasing power when the cost of goods rises, as gold has performed historically well during the times of inflation. In the current uncertain and volatile market environment, investing in gold ETF seems to be a reasonable option for portfolios from a long-term point of view.” said Siddharth Srivastava, Head – ETF Product, Mirae Asset Mutual Fund.
Mirae Asset Gold ETF intends to track the performance of the domestic price of physical Gold. Each unit of the ETF will represent roughly around .01 grams of Gold. An investor who wants to take exposure in Gold can invest via Mirae Asset Gold ETF, further explained Srivastava.
