Reliance Mutual Fund on Wednesday said it has so far collected 5 billion rupees ($111 million) from 200,000 investors under its gold fund of funds scheme.
"The large participation in the fund reaffirms our belief that gold will emerge as one of the largest asset classes for the Indian MF industry," said Sundeep Sikka , CEO, Reliance Mutual Fund.
The scheme will be open for trading from March 14, the fund house said in a statement.
India imported a record of over 900 tonnes of gold in 2010 as consumers expected a further rally in near-record prices.
Source: http://economictimes.indiatimes.com/personal-finance/mutual-funds/mf-news/reliance-gold-fund-scheme-collects-5-bn-rupees/articleshow/7662655.cms
"The large participation in the fund reaffirms our belief that gold will emerge as one of the largest asset classes for the Indian MF industry," said Sundeep Sikka , CEO, Reliance Mutual Fund.
The scheme will be open for trading from March 14, the fund house said in a statement.
India imported a record of over 900 tonnes of gold in 2010 as consumers expected a further rally in near-record prices.
Source: http://economictimes.indiatimes.com/personal-finance/mutual-funds/mf-news/reliance-gold-fund-scheme-collects-5-bn-rupees/articleshow/7662655.cms
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1 comment:
Because of High demand of Gold in India, prices are hiking and, investors are now a days see Gold as an investment. No doubt demand of Gold is increasing and Reliance have raised 5 bn Rs..that's and indication that further Gold prices are going to increase. So stay invested in Gold for better returns.
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