Gold exchange-traded funds (ETFs) have become popular over the years thanks to returns which have beaten stock indices and the convenience of holding the metal in electronic form. Fund managers expect to attract huge investments in ETFs on Akshaya Tritiya, which falls on April 24 this year. They hope for a 200% rise in sales this year over last year, surpassing a growth of 145% in 2011 over 2010. The turnover on National Stock Exchange, one of the major exchanges where ETFs are listed, was at Rs 846crore in 2011 over Rs 345 crore in 2010.
According to NSE, the compounded annual growth rate (CAGR) is at 189% since 2007 during Akshaya Tritiya, a day on which buying gold is considered auspicious. Gold ETFs are funds through which investors buy gold by holding units of gold in electronic form. They gave the best returns across all categories of mutual funds in the January-April period. The funds gave 34.74% returns in the last one year against a 10% decline in the Sensex.
News Source -Â ECONOMIC TIMES.
Â Canara Robeco Mutual Fund has announced change in exit load of the following schemes with effect from 12 April 2012. The revised exit load will be:
Canara Robeco Dynamic Bond Fund: Retail Plan and Institutional Plan-1% if redeemed/switched out within 12 months from the date of allotment and nil if redeemed/switched out after 12 months from the date of allotment.
Canara Robeco Income Fund: Retail Plan and Institutional Plan-0.50% if redeemed/switched out within 12 months from the date of allotment and nil if redeemed/switched out after 12 months from the date of allotment.
News Source -Â NAV INDIA.
NEW FUND LAUNCH
Â Religare Mutual Fund has launched a new fund named as Religare Fixed Maturity Plan – Series XIV – Plan D (149 Days), a close ended debt scheme. The tenure of the scheme is 149 days from the date of allotment. The New Fund Offer (NFO) price for the scheme is Rs. 10 per unit. The new issue will be open for subscription from 13 April and closes on 16 April 2012.
News Source -Â INDIA INFOLINE.