Planning to invest in Gold? These are top schemes to purchase in May
So wait no more and put your money into these money making machines.
You may not be aware that you can even invest in gold without physically possessing the yellow metal. This investment can be made with the available gold ETF's and gold funds in the market. The advantage of investing in gold funds is that their is no worry of theft and also, the funds are cheaper in comparison to the physical form of gold. As said by ClearTax, a gold fund is an open-ended fund which invests in units of a gold Exchange Traded Fund (ETF). The basic aim of the fund is to create wealth by tapping the potential of gold as a commodity. It is suitable for investors who have a desire to take exposure in gold.
Sharekhan, in its best Gold fund picks for May 2019, mentions the following gold funds schemes to invest:
ICICI Prudential Regular Gold Savings Fund:
The ICICI Prudential Regular Gold Savings Fund is an open ended scheme investing in one or more overseas mutual fund schemes. The application amount for this gold scheme is Rs 5,000. The minimum additional investment is Rs 100. The ICICI Prudential Regular Gold Savings Fund invests in units of ICICI Prudential Gold iWIN ETF, which will generate the returns for the investor.
According to Sharekhan, this scheme will get returns up to 0.4% in five years, with an expense ratio of 0.1. It has a net value price of 11.
Aditya Birla Sun Life Gold Fund:
This too is an open ended funds of funds and Aditya Birla Sun Life Gold Fund invests in the units of its Aditya Birla Sun Life Gold ETF, which will provide the investor with the returns generated. The minimum investment in this scheme is Rs 1,000.
The Aditya Birla Sun Life Gold Fund has a net value price of 10. The scheme will get returns up to 0.3% in five years, with an expense ratio of 0.5.
SBI Gold Fund:
The SBI Gold Fund invests in its SBI Gold Exchange Traded Scheme to produce returns for the investor in this scheme. The application amount for this gold scheme is Rs 5,000 and the minimum additional investment is Rs 1000 thereafter. SBI Gold Fund is a open ended funds of funds with a net value of 10.
The scheme will get returns up to 1.2% in three years, with an expense ratio of 0.5, according to the report by Sharekhan.