HDFC Mutual Fund announced the launch of HDFC Gold Fund — an open ended fund of funds which will invest in HDFC's Gold ETF scheme. The new fund offer (NFO) will be open from October 7-21.
“The corpus collected through the NFO will be invested in HDFC GETF to seek capital appreciation. Investors can invest in HDFC Gold Fund through the regular subscription process, and unlike Gold ETFs, there is no requirement for a demat account to invest in this scheme,” said a statement from the fund house.
Investors can participate in the fund through a Systematic Investment Plan, the minimum investment for which will be Rs 100, said the statement.
This will be the seventh gold fund of funds to be launched in the industry.