Kolkata: Union Mutual Fund has announced the launch of two New Fund Offers (NFOs)—Union Gold ETF and Union Gold ETF Fund of Fund (FoF)—providing investors with an opportunity to add gold exposure to their portfolios in a structured and convenient manner.
Both NFOs open on February 10, 2025. The Union Gold ETF closes on February 17, 2025, while the Union Gold ETF Fund of Fund closes on February 24, 2025.
Union Gold ETF is an open-ended scheme replicating/tracking domestic price of gold. Units will be listed on both the stock exchanges (NSE and BSE) within five business days of allotment, allowing investors to trade them like any other stock. No exit load is applicable.
Union Gold ETF Fund of Fund (FoF) is an open-ended fund of fund scheme that will invest in units of Union Gold ETF, offering indirect exposure to gold. The scheme carries an exit load of 1% if units are redeemed within one year. Both schemes will be managed by Mr. Vinod Malviya, Fund Manager, Union AMC.
The benchmark for both schemes is the domestic price of physical gold. Investors can invest a minimum of ₹1,000 and in multiples of ₹1 thereafter during the NFO period.
