Quantum MF Raises Rs 3.4 Crore Through Gold Fund

Quantum Mutual Fund has collected Rs 3.4 crore through its Quantum Gold Fund during its initial offer period from 24 January 2008 to 8 February 2008.

Quantum Gold Fund is an open-ended fund, which will be listed on the exchange in the form of an Exchange Traded Fund (ETF) tracking domestic prices of gold through investments in physical Gold.

The investment objective of the scheme is to generate returns that are in line with the performance of gold and gold related instruments, subject to tracking errors. QGF is designed to provide returns that, before expenses, closely correspond to the returns provided by Gold.

The scheme will invest 90%-100% in physical gold. The scheme will invest 0-10% in money market instruments, short-term corporate debt securities, CBLO, and units of debt and liquid schemes of mutual funds. As the scheme invests 90% to 100% of the net assets into gold, the scheme will, by and large, be passively managed fund. However, the scheme may invest in gold related securities including derivatives.