Brief on SBI Gold Fund :
The two most important concerns while buying gold are purity and safety (in terms of storage). To address both these concerns, SBI GETS (Gold ETF ) was launched where investments are made in dematerialized (demat) form. Considering that dematerialization is a new concept in India and there is very low penetration of demat accounts amongst Indian investors. This low penetration has prevented access to gold as an asset class for investors who don’t have a demat account. Continuing our endeavor to provide investors an access to this investment vehicle, SBI Mutual Fund is launching a SBI Gold Fund. SBI Gold Fund is an investment avenue for the investors, where investors can invest in gold ( through gold ETF ) without a demat account. This fund also offers the facility of Systematic investment plan.
Type of Fund : Open Ended Fund of fund
Investment Objective: The investment objective of the Scheme (NFO) is to seek to provide returns that closely correspond to returns provided by SBI Gold Exchange Traded Scheme (SBI GETS).
NFO Launch date : August 22, 2011
NFO closes on (end date) : September 05, 2011
Scheme Re-opens on : September 19, 2011
Fund Manager : Ravi Prakash Sharma
Minimum Amount : Rs. 5000/- and multiples of Re. 1/-
Plans / Options : Growth, Dividend Payout & Dividend Re-investment
Allotment Date : 12/09/2011
Scheme re-opens : 19/09/2011
Plan and Options Offered: Growth and Dividend Plan (under dividend- reinvestment & payout facility both are available)
Benchmark: The Scheme’s performance will be benchmarked against the price of physical gold. The price here refers to the morning fixing of Gold by London Bullion Market association (LBMA).
a) No NFO bankers appointed for this NFO. All applications & cheques to be submitted to CAMS with a schedule on a daily basis.
SIP Date : SIP cycle of 5th/ 10th/ 15th / 20th /25th/30th (for February last business day)
b) SIP is available only through ECS / Direct Debit mode with below options. No Post dated cheques acceptable in NFO & ongoing.
(i) Monthly: Rs. 500/- per month for minimum 12 months OR Rs. 1000/- per month for minimum 6 months
(ii) Quarterly: Rs. 500/- per quarter for minimum 12 quarters (3 years) OR Rs. 1500/- per quarter for minimum 4 quarters (1 year)
c) The earliest (first) SIP debit through ECS / Direct Debit is 15/10/2011. Ensure the SIP from date in ECS / Direct Debit mandate is only from 15/10/2011 or subsequent date.
Load Structure
o Entry Load : Nil
o Exit Load:-
§ Exit within 1 year from the date of allotment – 1 %
§ Exit after 1 year from the date of allotment – Nil
d) SBI has autodebit arrangement with SBI, SBT, Union Bank, HDFC, Punjab national Bank, Bank of Baroda, Bank of India, AXIS, IDBI, SBM, Indus Ind bank and Kotak Mahindra Bank.
e) Ensure to verify the mandatory enclosures like PAN / KYC / Third Party confirmation, Identity & address proof (for Micro SIP applications) and mentioning the bank details, amount, plan, instrument details in applications before submitting to CAMS.
f) Outstation cheques should not be accepted and DD charges are not reimbursed.
g) In case of switches from other schemes to Gold Fund, submit the requests to CAMS duly time stamped as doing currently.
h) All the investors to mention the E-mail address & Mobile No in the applications.
i) All the applications & cheques to be submitted to CAMS.
