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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.

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