Benchmark's gold fund wraps up allotment

 Each unit of Gold BeES is approximately equal to the price of one gram of gold. The allotment price is arrived at after investment of money collected in NFO.  In addition to the base price, investors have been charged an entry load of 1.5% to 0% depending on the amount of application. 

 A release issued here said the units allotted were being credited to the demat accounts of the investors. Benchmark AMC will now proceed to complete the remaining formalities for listing on NSE as soon as possible. After listing, investors can buy or sell units of Gold BeES from the secondary market on the National Stock Exchange and the minimum number of units that can be bought or sold is one unit.

 Various GETFs across the world have AUM of around $ 12 billion.

 Gold BeES is an open-ended, exchange listed Scheme whose objective is to provide returns that before expenses, closely correspond to the returns provided by domestic price of gold through physical gold. The NFO commenced on February 15th and closed on February 26th 2007.

The annual recurring expenses of the fund will not exceed 1% per annum.