DSP Merrill unveils Gold Fund

DSP Merrill Lynch Fund Managers announced the launch of DSP Merrill Lynch World Gold Fund, an open ended fund of funds scheme investing in gold mining companies through an international fund.

The primary investment objective is to seek capital appreciation by investing mainly in the units of Merrill Lynch International Investments Fund - World Gold Fund.

This scheme is open-ended, and not an exchange traded fund. The new fund offer will commence on July 25 and close on August 23.

Merrill Lynch International Investments Fund - World Gold Fund is an open ended scheme. Launched in 1994, it currently manages assets of over $5.4 billion (over Rs 21,000 crore).

The scheme is rated AAA by both S&P Fund Research and Forsyth Partners. Over its 12 year track record, the scheme has outperformed its benchmark - FTSE Gold mines (cap) Index over the last one, three and five years and since inception.

The features of the scheme are:
Min Investment Rs 5,000
Entry Load - 2.25% (for regular investments during NFO and continuous offer)
Exit Load - 0.50% for holding period 6 months.

Source: Economic Times