UTI Gold ETF Come Out With Maiden NAV Of Rs 949.72

UTI Gold Exchange Traded Fund has come out with its maiden NAV of Rs 949.72 per unit. The scheme, whose new fund offer closed on 16 March 2007, re-opened for fresh investments and sales on 13 April 2007. The scheme will debut on the stock exchange on 17 April 2007. UTI Mutual Fund has raised nearly Rs 250 crore from about 26,000 investors, with the launch of UTI Gold Exchange Traded Fund.
UTI Gold Exchange Traded Fund is an open ended Exchange Traded Fund. The scheme was launched on 1 March 2007. The objective of the scheme endeavour to provide returns that, before expenses, closely track the performance and yield of Gold. However the performance of the scheme may differ from that of the underlying asset due to tracking error. There can be no assurance or guarantee that the investment objective of UTI-Gold ETF will be achieved. Units of UTI Goldshare are listed on the National Stock Exchange of India (NSE). Minimum lot for purchase / sale on NSE is 1 unit and in multiples thereof. Investors can puchase and sell UTI Goldshare units on NSE. The UTI-Gold Exchange Traded Fund will be benchmarked against the price of gold.