ICICIdirect offers special Dhanteras discount of 50% on brokerage on gold ETFs investments
ICICIdirect.com in collaboration with National Stock Exchange announced a nation wide awareness camp for investors, which will be aimed at informing customers about the benefits of investing in gold ETF. The camp will be organized across 66 cities in India in 240 ICICIdirect centres. The programme is scheduled to be held on Saturday, October 22, 2011.
In the last few years, gold exchange-traded funds (ETFs) have gained popularity in India. Investors are becoming aware of the benefits of investing in gold paper as opposed to holding it as jewellery.
Each gold ETF unit is almost equal to a gram of gold. These units are traded on the exchange like a stock of a company. Gold ETFs can be purchased online and they are one of the cheapest form of purchasing gold as there is no premium or making charge like in purchase of jewellery. There are no quality issues as these are traded on exchange and a tax efficient way of investment as they don't attract STT or wealth tax. Further, there are no security issues of storage while purchasing online unlike in physical gold.
ICICIdirect.com facilitates seamless online investments in gold ETFs and also provides the option of investing regularly and systematically through SIP. Currently, 11 asset management companies offer 11 gold ETFs and three gold ‘fund of funds’ (FoFs) in India.
“Dhanteras is considered as an auspicious day for gold purchase. In the past few years we have observed an interesting trend of informed investors purchasing gold ETFs instead of physical gold on this day. With this view, ICICIdirect along with NSE has organized gold ETF awareness camps for its 2.2 million customers across 66 cities and inform them about the several benefits that gold ETFs offer,” said Mr. Vineet Arora, executive vice president and head – products and distribution, ICICI Securities Ltd. In addition to this, ICICIdirect.com has also launched a special Dhanteras discount offer of 50% on brokerage on any gold ETFs Investments and waiver on brokerage on gold ETF SIPs that would be started on Monday, October 24, 2011.