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MUMBAI JAN 31 : Benchmark Asset Management Company (AMC) is all set to sell securities backed by gold from February 15, the first such offering to the world’s biggest buyer of the yellow metal. The ETF will be listed on NSE.
“Benchmark will sell gold exchange-traded funds (GETFs) with each unit representing 1 gram of gold,” said Sanjiv Shah, executive director, Benchmark AMC. With the launch of Gold ETFs investors who have been investing in physical gold is expected to park some money in ETFs. Benchmark has appointed the Bank of Nova Scotia as the custodian for the fund. The fund offer closes on February 23. |
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