SBI Mutual Fund launches SBI Gold Fund scheme

As the frenzy around gold is soaring with the increase in the metal's price, SBI Mutual Fund has launched SBI Gold Fund to make investment in the precious metal affordable for a common man. SBI Gold Fund is an open ended Fund of Fund scheme to allow the common man to invest systematically in gold and reap the advantage of the current rally. 

The amount amassed through the NFO will be invested in SBI GETS, which is the Gold ETF offering from SBI Mutual. SBI GETS has emerged as the best performing gold ETF during the last 6 months by giving returns of 28.6 per cent as on 18th of August 2011. 

The returns from the SBI GETS were 36.57 per cent higher than the BSE Sensex returns of -12.5 during the same period. Speaking at the launch of SBI Gold Fund, Managing Director Mr. Deepak said, “In the current equity turmoil, we believe that SBI Gold Fund should certainly be one of the best investment opportunities under consideration for the common man to hedge their risks.” The New Fund Offer (NFO) opens starting 22nd of August 2011, and close on 5th of September 2011.