SBI Mutual Funds, the joint venture between the State bank of India, and SGAM (France) is celebrating the Akshaya Tritiya week in select branches throughout the country from April 22 to April 28.
Srinivas Jain, chief marketing officer, SBI mutual fund stated, "We are observing a discerning trend in preference for Gold ETF as an alternate investment avenue on the eve of Akshaya Tritiya. We have received queries from our investors and distributors on it being an auspicious occasion to invest in Gold ETFs."
This celebration is intended to create awareness about the ETF as an investment option among the investing class.
Speaking about this, Achal Kumar Gupta, MD and CEO, SBI Mutual Fund, said, "Gold ETF is the most efficient way of owning gold, as it acts an important hedge in the portfolio. Since buying gold has great significance on this day, we hope our investors will make us of the opportunity."
SBI Gold Exchange Traded Scheme (SBI GETS) is a passively managed open-ended mutual fund, which would invest in Gold and try to track the price of Gold. The investment purpose of this scheme is to seek to provide returns that closely correspond to returns provided by price of gold through investment in physical gold.
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