Gold Benchmark Exchange Traded Scheme (Gold BeES) to be launched in NSE

Benchmark Mutual Fund has planned to launch Gold Benchmark Exchange Traded Scheme (Gold BeES) which offers investors an innovative, cost-efficient and secure way to access the gold market. Gold BeES is intended to offer investors a means of participating in the gold bullion market without taking physical delivery of gold, and to buy and sell on National Stock Exchange (NSE).

The minimum amount of investment during NFO is Rs.10000 and in multiples of Rs.1000 thereafter. Once listed, 1 unit of Gold BeES will represent approximately 1 Gram of gold and investors can buy or sell units on the National Stock Exchange (NSE). The minimum number of units that can be bought or sold is 1 unit.

The transaction settlement is only in demat account with T+2 rolling settlement.

The fund charges entry load upto an investment of Rs.4,99,99,000 depending on the amount invested. There is no entry load for investment of Rs.5,00,00,000 and above. There will be no exit load charge by the Fund. On an ongoing basis there will be No Entry / Exit Load charge by the Fund.

Source : Equity Bulls

Keywords