Nippon India Gold Savings Fund is one of mutual fund scheme launched by Nippon India. It has a plethora of products for investors of all categories who can choose the product that suits their investment objective correctly. The Nippon India Gold Savings Fund is an open ended fund of fund scheme.
The main objective of investment of the Nippon India Gold Savings Fund - Growth plan - Growth Option is to make provisions for returns that are closely correspondent to the returns that are provided by the Nippon India ETF Gold BeES scheme. The Nippon India ETF Gold BeES scheme helps in facilitating the provision of returns that are almost similar to the total returns of the securities which are represented by the Nifty Bank Index.
The key features of the Nippon India Gold Savings Fund - Growth plan - Growth Option are listed below:
Type of fund | An open ended fund of fund scheme |
Plans available |
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Options under each plan |
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Risk | Moderately High |
Systematic Investment Plan (SIP) | Available |
Systematic Transfer Plan (STP) | Available |
Systematic Withdrawal Plan (SWP) | Available |
Minimum application amount | Rs.1,000 and in multiples of Re.1 subsequently |
Minimum additional investment | Rs.1,000 and in multiples of Re.1 subsequently |
Minimum instalment for Systematic Investment Plan (SIP) |
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Minimum instalment for Systematic Withdrawal Plan (SWP) | Rs.500 and in multiples of Rs.100 thereafter |
Minimum instalment for Systematic Transfer Plan (STP) | A fixed amount of the investor's choice can be availed under the Systematic Transfer Plan (STP) as per the following options:
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Entry Load | N/A |
Exit Load |
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Asset Allocation of the Nippon India Gold Savings Fund - Growth plan - Growth Option
Type of security | Indicative Allocations (percentage of total assets) | Risk Profile | |
Minimum | Maximum | High/Medium/Low | |
Units under the Nippon India ETF Gold BeES | 95% | 100% | Medium to High |
Reverse repo and/or schemes which invest in money market securities or liquid schemes and/or short-term deposits and/or CBLO | 0% | 5% | Low to Medium |
The following persons are considered to be eligible to subscribe to the units of the Nippon India Gold Savings Fund - Growth plan - Growth Option:
The Net Asset Value or NAV of the units under the Nippon India Gold Savings Fund - Growth plan - Growth Option scheme will be determined on a daily basis or as per the recommendation of the regulations. If no other formula is prescribed by the SEBI, the NAV of the scheme would be computed on the basis of the following formula:
NAV = (Fair value or Market value of the investments of the scheme + Receivables + Accrued Income + Other Assets - Accrued Expenses - Payables - Liabilities) / Number of outstanding units on the date of calculation.
The Net Asset Value is calculated up to 4 decimal places. The NAV has to be calculated and disclosed at the end of every working day. It has to be published in at least 2 national daily newspapers. It is also required to be updated on the website of AMFI (www.amfiindia.com) and the official website of Nippon India Mutual Funds (www.Nippon Indiamutual.com) by 10 a.m. of the consecutive business day.
The benchmark of the Nippon India Gold Savings Fund - Growth plan - Growth Option is based on the price of physical gold.
The Nippon India Gold Savings Fund - Growth plan - Growth Option is managed by Ms. Payal Wadhwa Kaipunjal. She holds degrees in B.Com, MBA, PGDM, FRM (GARP). She has been managing the Nippon India Gold Savings Fund since January 2017.
There are certain restrictions pertaining to the investment in the Nippon India Gold Savings Fund - Growth plan - Growth Option. Some of these restrictions are as follows:
The dividends under the Nippon India Gold Savings Fund scheme will be distributed as per Regulation 53(a) of the SEBI (Mutual Funds) Regulations, 1996. However, under the Nippon India Gold Savings Fund - Growth plan - Growth Option scheme there will be an absence of direct distribution of income. The only way through which returns will be delivered to the investors under this scheme is through capital growth or capital appreciation. This is provided through the redemption of the units at the Net Asset Value (NAV) which is applicable to the units held by the investors.
The Nippon India Gold Savings Fund - Growth Plan - Growth Option is a product which is offered by Nippon India Mutual Fund (RMF). With an Average Assets Under Management (AAUM) of Rs.2,40,445.37 crore (first quarter of Financial Year 2018) and 83.99 lakh folios (as on 30 June 2018), RMF is one of the largest AMCs in India. It functions under the name of Anil Dhirubhai Ambani (ADA) Group. It has its presence in over 160 cities across the nation. It offers a number of products which is suitable for the investment needs of every category of investors. If an investor's investment requirements are fulfilled by the Nippon India Gold Savings Fund - Growth Plan - Growth Option, then it is one of the best options to invest in. The added benefits are a number of products to choose from along with a supportive customer service.
GST rate of 18% applicable for all financial services effective July 1, 2017.
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