Kotak gold fund launched

After Reliance Mutual fund, which launched a gold fund last month, it is the turn of Kotak Mutual Fund to launch a gold savings fund. With this fund, you can invest in gold without having a demat account. The issue is currently open for subscription and closes on March 18.

THE PRODUCT

Kotak Gold Fund is an open-ended fund of funds (FoF) scheme, which is passively managed and will invest primarily in Kotak Gold Exchange Traded Fund. So its returns will mirror the returns of Kotak Gold Exchange traded fund. While there is no entry load, there is an exit load of 2% if you redeem or switch out units on or before the completion of one year from the date of allotment of units, 1% if you switch between six months and one year of allotment and no exit load after one year of allotment. The minimum amount on application is . 5,000. You can also do a SIP for . 1,000 per month.