<p>Accordingly, the exit load charge will be 1.00 per cent of the applicable net asset value (NAV), if redeemed or switched for a period of up to one year from the date of allotment. The exit load charge will be nil, if the period is more than one year from the date of allotment. The changes will be effective from this day, it said. <br /><br />Prominent among 13 schemes whose exit load structure have been revised include Equity & Derivatives Fund, Balanced Fund, Indo Asia Equity Fund, Banking & Financial Services Fund and FMCG Fund.<br /><br />Meanwhile, the company also launched Gold Exchange Traded Fund, an open-ended exchange traded fund, whose aim was to provide investment returns which closely track the performance of domestic prices of gold derived from the London Bullion Market Association. However, it has pointed out that the performance of the scheme – which is closing on July 29 – may suffer from that of the underlying gold due to tracking error. <br /><br />Unlike gold jewellery or coins/bars, ETF units can be liquidated easily to benefit from any rise in the price of gold and it can also be bought with similar ease. Gold ETF costs are lower than buying, storing and insuring physical gold, while the units can be bought and sold in small quantities (equivalent to One gram of gold) on the major exchanges like NSE or BSE. Besides, the purity is 99.5 per cent or higher and the NAV will be declared daily.<br /><br />In this context, ICICI Prudential AMC’s MD Nimesh Shah said: “….this product….will enable investors to diversify into another asset class, in addition to equity and debt. The Gold ETF will allow investors to participate in the future potential of this asset classes with convenience.”</p>
<p>Accordingly, the exit load charge will be 1.00 per cent of the applicable net asset value (NAV), if redeemed or switched for a period of up to one year from the date of allotment. The exit load charge will be nil, if the period is more than one year from the date of allotment. The changes will be effective from this day, it said. <br /><br />Prominent among 13 schemes whose exit load structure have been revised include Equity & Derivatives Fund, Balanced Fund, Indo Asia Equity Fund, Banking & Financial Services Fund and FMCG Fund.<br /><br />Meanwhile, the company also launched Gold Exchange Traded Fund, an open-ended exchange traded fund, whose aim was to provide investment returns which closely track the performance of domestic prices of gold derived from the London Bullion Market Association. However, it has pointed out that the performance of the scheme – which is closing on July 29 – may suffer from that of the underlying gold due to tracking error. <br /><br />Unlike gold jewellery or coins/bars, ETF units can be liquidated easily to benefit from any rise in the price of gold and it can also be bought with similar ease. Gold ETF costs are lower than buying, storing and insuring physical gold, while the units can be bought and sold in small quantities (equivalent to One gram of gold) on the major exchanges like NSE or BSE. Besides, the purity is 99.5 per cent or higher and the NAV will be declared daily.<br /><br />In this context, ICICI Prudential AMC’s MD Nimesh Shah said: “….this product….will enable investors to diversify into another asset class, in addition to equity and debt. The Gold ETF will allow investors to participate in the future potential of this asset classes with convenience.”</p>
