Kotak Mahindra new issue closes on 18th March
Kotak Mahindra Asset Management Company has launched its latest fund-of-fund named 'Kotak Gold Fund'. This open-ended fund will enable investors to take exposure to gold without having a demat account. In addition to this Kotak AMC will offer investors the option to invest Rs1.000 per month through the SIP route.
The Kotak Gold Fund closes on 18th March and its performance will be benchmarked against the prices of physical gold.
Sandesh Kirkire chief executive officer, Kotak Mahindra Asset Management Company said, "We see a lot of potential with Kotak Gold Fund primarily because of two significant factors. One by providing a platform to investors to invest in gold without a demat account and also create a discipline by systematically investing in Gold as an asset class." Mr Kirkire elaborated, ' In recent times, gold has shown a low correlation with other asset classes while at the same time its returns potential has been similar to equity assets performance. As a result allocation into gold improves portfolio diversification and can minimise the downside risk of the portfolio.'
The fund attracts the benefit of long term capital gains tax after one year of investment. This is in contrast to physical gold where you have to pay short term capital gains tax for a period upto three years. Also the returns of this fund do not attract any wealth tax, which is not the case with physical gold.
Inside story of the National Stock Exchange’s amazing success, leading to hubris, regulatory capture and algo scam
Fiercely independent and pro-consumer information on personal finance.
1-year online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
30-day online access to the magazine articles published during the subscription period.
Access is given for all articles published during the week (starting Monday) your subscription starts. For example, if you subscribe on Wednesday, you will have access to articles uploaded from Monday of that week.
This means access to other articles (outside the subscription period) are not included.
Articles outside the subscription period can be bought separately for a small price per article.
Fiercely independent and pro-consumer information on personal finance.
Complete access to Moneylife archives since inception ( till the date of your subscription )
