India’s Religare Mutual Fund has rolled out an open-ended fund-of-fund scheme, Moneycontrol.com reports. The Religare Gold Fund seeks to provide returns corresponding to returns delivered by the Religare Gold Exchange Traded Fund. The scheme offers growth option as well as dividend option, which further provides re-investment and payout facility.
The new issue will open for subscription from November 15 to November 29. Nitish Sikand will be managing the scheme, which will allocate up to 95 percent to 100 percent in units of Religare Gold ETF and up to 5 percent in money market.
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