Baroda Pioneer MF To Unveil Gold Fund

Baroda Pioneer Mutual Fundis seeking to unveil an open-ended fund-of-funds scheme,India Infolinereports. TheBaroda Pioneer Gold Fundwill be offered at $0.21 per unit. The investment objective of the scheme is to seek returns by investing in gold exchange- traded funds (ETFs).

The scheme provides growth option and dividend option and will invest 65 percent to 100 percent of assets in gold ETFs listed on recognized Indian stock exchanges. It will allocate nearly 35 percent of assets in money market securities and/or units of money market/liquid schemes of firms with low risk profile.

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