In a recent move DSP Merrill Lynch has targeted 30% of its proceeds from the North for its open-ended World Gold Fund which is to be benchmarked against the Gold Mines Index.
Ajit Menon, senior vice-president, and head channel sales DSP Merrrill Lynch told FE on Wednesday that the company was targeting 10% of the total collections for the Fund from Punjab. He said the World Gold Fund is not an Exchange Traded Fund and the new fund offer would commence from July 25, 2007 and close on August 23.
Menon said that investors should not park their entire funds in one portfolio or only in equities in view of the high volatility in the market. He said that investment in World Gold Fund would provide the investors, capital appreciation by investing in international investment fund which has been rated AAA by S&P.