IDBI Gold Fund Growth
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|Risk||Moderately High risk|
|Fund Type||Sector - Precious Metals|
|Exit Load||1% for 365 Days|
More about this fund
|IDBI Gold ETF||99.8%|
About IDBI Gold Fund
Being an open ended fund of fund scheme, it invests in units of IDBI Gold Exchange Traded Fund (IDBI Gold ETF). The scheme aims at generating returns that are closely related to the returns generated by IDBI Gold Exchange Traded Fund. The Net Asset Value NAV of the scheme is affected by global macroeconomic events, domestic price of gold and regulations impacting demand and supply of gold.
Pros & Cons of IDBI Gold Fund
IDBI Gold Fund offers the following benefits:
- Opportunity to benefit from price movements of gold without the inconvenience of owning the commodity physically.
- Suitable for achievement of medium-term goals like children education and a safer haven during economic crisis.
- It is a star-rated fund but has underperformed the category and the benchmark in the 1year, 3 year and 5 year time horizon.
Fund Information and Statistics of IDBI Gold Fund
i) Inception / Launch date
IDBI Gold Fund was launched on 14 August 2012 by IDBI Mutual Fund.
ii) Risk level
Being a fund-of-fund, IDBI Gold Fund is a high risk bet. Investors having a medium-term investment horizon of around 5 years may think of investing in this fund. However, this fund is not suitable for wealth creation purposes.
The minimum amount of redemption allowed is Rs. 1000. Redemption of Units will be done by a repurchase/buyback by the fund house. Under normal circumstances, your fund house will dispatch the redemption proceeds within 10 business days from date of receipt of request.
iv) Fund Manager
Mr. Ashish Mishra, who holds a rich work experience of 13 years, has been managing IDBI Gold Fund since September 2017. Before joining as the fund manager, he had associations with prestigious institutions like ING Investment Management India Pvt Ltd. and Union Bank of India (Treasury).
v) Entry / Exit load
The fund house does not charge any entry load for investing in IDBI Gold Fund. However, the scheme charges an exit load of 1% on redemption of units within 365 days from the date of allotment.
Tax benefits of investing in IDBI Gold Fund
The short-term capital gains made on sale of units within 3 years from the date of allotment are taxable as per income tax slab of the investor. The long-term capital gains made on the sale of units after 3 years from the date of allotment is taxable at the rate of 20% with the benefit of indexation.
About IDBI Mutual Fund
IDBI Mutual Fund was established on 25th January 2010 under the Companies Act, 1956. It is being managed by the IDBI Asset Management Limited. It aims to promote financial inclusion by supporting the investor in taking informed investment decisions. It attempts to achieve this through mutual funds thereby giving him an opportunity to experience the prosperity of the capital markets.
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Frequently Asked Questions
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All investments come with risk. Risk is the volatility or fluctuation in the price (and returns) of the investment. Usually,
- High Risk = High possible returns
- Low Risk = Stable, relatively lower returns