Home | Register | Sign in | Contact Us | Sitemap |
   
02 Jan 2012 06:00 PM
AMCs report an increase in gold SIP 
Pallabika Ganguly
 

Investors feel that Gold fund and ETFs are a good asset class to invest in the current scenario

AMCs have seen an average increase of 30% in gold SIP in last three months. Gold funds are clearly gaining popularity among investors.

“Gold is always considered to be a good investment and investors now prefer investing in gold funds or ETFs instead of physical gold. We have seen a 40 percent rise in gold SIPs in the last three months,” said Aashish Somaiyaa, Head – Retail Business, ICICI Prudential Mutual Fund.

Similarly, Reliance has seen a 30 percent increase in SIPs flowing into gold funds in the last two months. According to Himanshu Vyapak, Dy. CEO, Reliance Mutual Fund, gold investments through mutual funds are attracting more attention from even first time investors. "We have received over 75,000 accounts from first time investors for our Gold Savings Fund. Over 500,000 people have taken advantage of this fund. The total assets under management (AUM) of this fund is about Rs. 2,500 crore," claimed Vyapak.

According to AMFI data, gold AUM increased to Rs. 9568 crore in November from Rs. 8173 crore in September. “We all are seeing an increase in gold investment through SIP as investors feel that gold is a good asset class to stay invested,” said Vijai Mantri, MD & CEO of Pramerica Mutual Fund.

IFAs feel that gold is being considered as a worthy asset class to invest, given the current situation in the stock market. “All my clients already have investments in gold through SIP as we had advised them long time back. In the last two months too, there has been fresh investment in gold,” said Mukesh Dedhia of Ghalla Bhansali Group of Companies.

Pradip Agarwal, an IFA from Kolkata, said “I have got a number of enquiries for gold funds in last two months and many have invested in different gold funds.”

Gold ETFs and gold funds have lured investors in the last two-three months, but we need to watch if these funds give an attractive return also.

 
|
|
|
|
|
|
|
Cafemutual welcomes your comments. Any disagreements or criticisms must be expressed in a dignified manner. Thank you.
blog comments powered by Disqus
 
Related Articles
Don’t give final approval to AMFI promoted IMFI as SRO: SAT
L&T MF launches L&T Emerging Businesses Fund
Equity funds lost close to 40 lakh folios last year
Birla Sun Life Focused Equity Fund Series I and II (RGESS) mop up Rs. 89 crore
Mutual funds asset dips by 10 percent in March
HSBC Mutual Fund launches HSBC Managed Solutions Fund
SEBI said to eye a pie of investor awareness corpus from AMCs
SEBI extends deadline for AMCs to disclose AUM
NFOs now open April 23
Ratios which Investors should consider while choosing Mutual Fund Schemes
UTI Mutual Fund launches Banking and PSU Debt Fund
DWS launches Inflation Indexed Bond fund and Euroland offshore fund
IDFC to launch close end Equity Opportunities Fund Series 2 & 3
HDFC MF launches Capital Protection Fund Series I
NFOs now open July 1
Deutsche MF introduces DWS Fixed Maturity Plan - Series 16 (DFMP - 16)
 
About Us | Media | Advertise With Us | Editorial Policy | Contact Us | Privacy Policy | Disclaimer | Sitemap
© Cafemutal.com. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of cafemutual.com is prohibited.
Best Viewed in I.E 7.0 and above. Resolution: 1024 * 768. Developed & Hosted by Accord Fintech Pvt. Ltd