Canara Robeco, the joint venture between state-run Canara Bank and the Holland-based Robeco has launched a gold savings fund, where the customers can invest in gold. The new fund is an open-ended fund-of-fund scheme, which will invest predominantly in units of Canara Robeco gold ETF.
The minimum investment in the fund is Rs 5,000 and multiples of Re.1 thereafter, investors can also choose the SIP option for which the minimum monthly amount is Rs 500. The fund is open for subscription from today and will closes on June 18 2012. There are two plans in this scheme.
- Canara Robeco Gold Saving Fund – Dividend
- Canara Robeco Gold Saving Fund – Growth
Entry Load is Nil and Exit Load is 2% if redeemed / switched – out within 1 year from the date of allotment