Zerodha Gold ETF Launched

The scheme opens for public subscription on February 16, 2024, and will close on February 21, 2024

Vishal Jain, CEO, Zerodha Fund House

FinTech BizNews Service   

Mumbai, February 16, 2024: Zerodha Fund House today announced the launch of its new scheme ‘Zerodha Gold ETF’, an open-ended, simple and low-cost ETF to take exposure to gold in one’s investment portfolio. The scheme opens for public subscription on February 16, 2024, and will close on February 21, 2024. The fund is expected to be listed on NSE and BSE exchanges by 1st March, 2024.

Like other schemes of Zerodha Fund House, Zerodha Gold ETF is also a passively managed scheme. The investment objective of the scheme is to generate returns that are in line with the performance of physical gold in domestic prices, subject to tracking error. The Zerodha Gold ETF Fund will invest 95%-100% in physical gold & gold related instruments while 0%-5% fund allocation will be in debt, money market instruments and cash & cash equivalents.

On the occasion of the start of the NFO period, Vishal Jain, CEO, Zerodha Fund House said, “Gold is typically viewed as a financial asset that maintains its value and purchasing power during Inflationary periods. The Gold ETF offers a simple and efficient way for you to invest in gold without the concern of storage and security. As Gold has a low correlation with equity, it reduces the overall volatility of your portfolio."

The minimum amount for application during NFO is ₹500 and in multiples of ₹100 thereafter. Post listing, the units of Zerodha Gold ETF can be bought directly from the exchange with a minimum of 1 unit. The starting Net Asset Value (NAV) of this ETF will be around ₹10.

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