UTI MF Rolls Out UTI Gold ETF

UTI Mutual Fund has rolled out UTI Gold Exchange Traded Fund (ETF) from 1 March 2007. The New Fund Offer (NFO) closes on 12 March 2007. UTI Gold Exchange Traded Fund is an open-ended exchange traded fund designed to track the performance and yield of the underlying asset viz. gold. The scheme will be invested in gold bullion and will reflect the international price of gold in the market. The objective of UTI Gold ETF is to endeavours to provide returns that, before expenses, closely track the performance and yield of Gold. Every unit of UTI Gold Exchange Traded Fund will approximately represent one gram of pure gold. Units allotted under the scheme will be credited to investors’ demat accounts.