Article from http://timesofindia.indiatimes.com/business/india-business/
PUNE: SBI Mutual Fund has introduced Gold Accumulation Facility on SBI Gold Fund. The facility would allow investors to invest in the scheme based on a specific quantity of SBI Gold Exchange Traded Schemes (SBI GETS) unit, wherein unit of SBI GETS represent approximately one gram of gold.
So far, SBI Gold Fund investors could invest only by a specific amount and not by quantity. With the introduction of gold accumulation facility, it would now be additionally possible for investors to invest on the basis quantity of gold (grammage) via the same systematic investment plan (SIP) or Systematic Transfer Plan (STP) route.
The gold accumulation facility can be used by investors through SIP and STP route. The amount will be calculated for each SIP/STP instalment into SBI Gold Fund, based on the net asset value (NAV) of SBI GETS and the number of units as specified by investor.
Deepak Chatterjee, managing director and chief executive officer, SBI Funds Management Private Limited said, "A customer research says that investors generally prefer investing in gold on basis of quantity more than its value. With the Gold Accumulation Facility, SBI Gold Fund now offers one of the best investment opportunities to the investors. This is the best option for the investor who aspires for a specified quantity of gold to be accumulated over a fixed period."
Dileep Athavale, TNN | May 14, 2013, 03.10PM IST
Article from http://timesofindia.indiatimes.com/business/india-business/
