UTI MF launches gold ETF -Video

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UTI Mutual Fund on Monday announced the launch of the UTI Gold Exchange Traded Fund from March 1, 2007.The new fund offer closes on March 12, 2007.

UTI Gold Exchange Traded Fund is an open-ended fund designed to track the performance and yield of gold. The scheme will invest in gold bullion and reflect the international price in the market.

UK Sinha, Chairman & Managing Director, UTI AMC, said: "UTI Gold Exchange Traded Fund offers investors a new, innovative, relatively cost-efficient and secure way to access the gold market without the necessity of taking physical delivery of gold. It is like having gold in your demat account."