Benchmark Asset Management Company today said it completed the allotment process for Gold BeES, the country's first gold exchange fund (ETF), at a base base price of Rs 945.7631 (before considering applicable entry load in NFO). | |
| Each unit of Gold BeES is approximately equal to the price of 1 gram of gold. The allotment price is arrived at after investment of the money collected in the new fund offer (NFO). In addition to the base price, investors have been charged an entry load of 1.5 per cent to 0 per cent, depending on the amount of application. |
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| A press release issued here said the units allotted were being credited to the demat accounts of the investors. Benchmark AMC will now proceed to complete the remaining formalities for listing on the NSE as soon as possible. After the listing, investors can buy or sell units of Gold BeES from the secondary market on the NSE. The minimum number of units that can be bought or sold is 1 unit. |
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| Gold ETFs across the world manage assets of around $12 billion. |
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| Gold BeES is an open-ended, exchange-listed scheme, whose objective is to provide returns that closely correspond to those provided by investment in physical gold. The NFO commenced on February 15 and closed on February 26. |
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| The annual recurring expenses of the fund will not exceed 1 per cent a year. |
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