It is an investment facility which offers investors an opportunity to accumulate money for buying gold for specific purposes. The investors can invest on a monthly basis in Nippon Gold Savings Fund (FOF scheme) over their desired investment period/tenure.
For subscription purpose, the units of the scheme are being offered publically. The following persons (subject, wherever relevant, to purchase of units being permitted under their respective constitutions and relevant State Regulations) will be eligible to subscribe to the units:
(1) Resident Adult Individuals, either single or jointly (not exceeding three).
(2) Parents/Lawful guardians on behalf of Minors
It should be noted that this is an indicative list. RNAM reserves the right to include/exclude any new/existing investors’ categories to invest in this scheme from time to time, subject to the SEBI’s Regulations if any.
The money of the investors will be invested in Nippon Gold Savings Fund (an open ended Fund of Fund Scheme) which in turn invests in Nippon ETF Gold BeES. Nippon ETF Gold BeES is a Gold Exchange Traded Fund (ETF) which invests in physical Gold with 99.5% purity.
There is no lock-in period for this plan. However, if the investment is redeemed or switched out on or before completion of 365 days from the units’ allotment date, 2% of exit load will be applicable.
The investor will be charged a maximum of 1.50% of the daily net assets including the expenses charged in its underlying investments in Nippon ETF Gold BeES and additional expenses as allowed by sub-regulation 6A of regulation 52 of SEBI Mutual Fund Regulations, 1996.
Entry Load - Nil
Exit Load- 2% only if the investment is redeemed or switched out on or before completion of 365 days from the date of allotment of units
Or else
Nil - If redeemed or switched out after the completion of 1 year from the date of allotment of units.
For latest expense ratio and Exit load, please refer: Expense Ratio-
Exit Load -
The investments will be made monthly in Gold Investment Plan. It includes the corpus debit of predecided (monthly) value which would be the different subject to the predominant rate of gold. Every month the potential investors will be getting a peculiar alert to make a reminder about the amount to be debited from their account. This debiting amount may differ depending on the rampant gold price.
The starting minimum value for investing in the fund is Rs. 5000 and after that in multiples of Rs. 1. The further investing purchase amount in Nippon Gold Savings Fund is Rs. 1000 and after again in multiples of Rs.1.
The amount will be decided by the total Gold which needs to be gathered up over the investment scope divided by the number of months. This would be multiplied by the current price of Gold on NCDEX of the past day from the date of investment.
The amount can easily be redeemed from the Nippon Gold Savings Fund on any working day, from the AMC directly at the current applicable NAV and exit load.
You can choose to invest in this scheme via lump-sum mode. The most prominent advantage is that investors get to invest in gold without having to bother much about procuring the precious metal. The investment amount varies according to the amount of gold you invest in grams. It is a fund of fund scheme which endeavors to match returns offered by Nippon Gold Exchange Traded Fund. However, unlike the ETF fund, it does not require de-mat account for investment.
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