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Mumbai Feb. 7 Escorts Asset Management Ltd has filed for Escorts Gold Exchange Traded fund with SEBI, an open-ended scheme, which will be listed on the exchange in the form of an exchange traded fund. It aims to provide returns that before expenses closely correspond to the returns provided by domestic price of gold by investing predominantly in gold and gold related instruments.

The scheme will offer units of face value of Rs 10 each and can be bought or sold like any other stock on the National Stock Exchange or any other exchange where it is listed.

HDFC Bank will be the custodian for holding the gold.

Escorts Mutual Fund is the fifth fund house in the country to file for gold ETF.

More Stories on : New Fund Offer | Gold & Silver

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