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(Investment will be made in your desired Gold Savings Fund on a monthly basis.
You can accumulate gold equivalent to the value of as little as 0.5 Gram at prevailing gold price on MCX.)
Gold Accumulation Plan is a facility which allows investor to accumulate gold for their defined goals. The investor shall invest on a monthly basis in Gold Savings Fund (FOF scheme) offered on FundzBazar over a predefined investment horizon.
Gold Accumulation Plan allows investor to invest on a monthly basis in the selected scheme over his desired investment horizon. Units of Gold Savings Fund will be allotted at the applicable NAV based on the investment made on a monthly basis.
Investment will be made in Gold Savings Fund on a monthly basis. Amount will be debited every month through the NACH mandate of bank account registered in Fundzbazar and it will be invested in the Gold Savings Fund at the prevailing NAV.
Gold Savings Fund is an open ended Fund of Fund Scheme which in turn invests in Gold ETFs. Gold Exchange Traded Fund (ETF) invests in physical Gold of 99.5% purity. For further information Refer SID.
The investor will be required to provide NACH Mandate (OTM) for enabling debits of variable amounts from his bank account for investing in Gold Savings Fund
The monthly SIP Installment will vary based on the prevailing spot price of Gold on MCX one working day prior to the SIP Installment date.
The minimum Investment Amount should be the amount equivalent to the prevailing price of 0.5 grams of Gold on MCX as on the date of Investment.
The minimum tenure shall be 12 Months.
Once Gold Accumulation Plan is started i.e. Gold quantity to accumulate (Equivalent amount) & tenure is fixed, it will not change irrespective of any additional purchase or redemption done by an investor.
Yes, an investor can make additional purchase in the Gold Accumulation Plan subject to a minimum amount of Rs.1000 and in multiples of Re. 1 thereafter.
No, there is no Lock-in period. However, any redemption or switch out before the specified period will be subjected to exit load. Kindly refer Scheme Information Document (SID) and Key Information Memorandum (KIM) for further information.
Based on the planned total Gold Accumulation (in gms) and number of Installments, per month Gold Accumulation (in gms) will be calculated. Then, per month Gold Accumulation (in grams) will be multiplied by the prevailing spot price of Gold per gram on MCX one working day prior to the SIP Installment. This will give the amount of Monthly Installment.
(Total Gold to be accumulated (in gms)/ No. of months) * Prevailing MCX Gold Spot Price per gram.
The investor can redeem by giving a redemption request in his Fundzbazar account. The Redemption amount shall be subject to applicable NAV based on cut-off timings and exit load, if any.
Investment in Gold Funds comes under the category of non-equity and the applicable Income Tax Rates are as follows:
Tracking error means the variance between daily returns of the underlying benchmark (gold in this case) and the NAV of the scheme for any given period. NAV of the Scheme is dependent on valuation of gold. Gold has to be valued as per the formula provided by SEBI in its circular no. SEBI/IMD/CIR No. 2/65348/06 dated April 21, 2006. NAV so computed may vary from the price of Gold in the domestic market.
Factors such as the fees and expenses of the Scheme, cash balance, changes to the Underlying assets and regulatory policies may affect AMC’s ability to achieve close correlation with the Underlying assets of the scheme. The Scheme’s returns may therefore deviate from those of its Underlying assets.
Under normal circumstances, such tracking errors are not expected to exceed 2% per annum. However this may vary when the markets are very volatile.
* Mutual Fund investments are subject to market risks. Please read all scheme related documents carefully before investing.
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