The Hindu Business Line : Quantum launches Gold Fund

Mumbai, Jan. 23 Quantum Mutual Fund is launching its first commodity-related offering — the Quantum Gold Fund Quantum Gold Fund is an open-ended Exchange Traded Fund, which is proposed to be listed on the National Stock Exchange of India (NSE), closely tracking the domestic prices of gold. The New Fund Offer (NFO) of the scheme would be open from Thursday, 24th January, 2008 to Friday, 8th February 2008.

During this NFO period, investors can subscribe to the scheme with a minimum investment of Rs 5,000 and further multiples of Rs 1,000. The Quantum Gold Fund seeks to offer investors an innovative, cost-efficient and secure way to invest in gold. The Fund enables investors to buy gold without the hassles of holding and storing physical gold. The Fund will closely track, before expenses, the movement in the price of the underlying asset-physical gold of 0.995 fineness.

The Quantum Gold Fund would also be the first Gold ETF in the country without any entry load during the NFO. “With no entry loads during the NFO, the Quantum Gold Fund will be an ideal portfolio diversification vehicle, with liquidity available on listing on the NSE. Younger investors should certainly start investing in gold early and regularly in demat form to reap its benefits in the longer term. Gold tends to do well in any kind of financial market uncertainty — as it is now”, said Mr Devendra Nevgi, CEO and CIO of Quantum AMC Pvt Ltd.

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