DSP Merrill Lynch Fund Managers on Thursday announced the launch of “World Gold Fund,” an open ended fund of funds scheme investing in gold mining companies through an international fund.
The primary investment objective is to seek capital appreciation by investing predominantly in the units of Merrill Lynch International Investments Fund – World Gold Fund (MLIIF-WGF). The New Fund Offer (NFO) will commence on July 25 and close on August 23, 2007. “This fund offers Indian investors the opportunity to benefit from the likely increase in gold prices and enhance their return as compared to investing in physical gold or gold ETFs,” the company’s President and Chief Investment Officer S Naganath said.
The scheme envisages that the minimum investment is Rs 5000, while the entry load is 2.25 pc for regular investments during NFO.
