Sachin Bansal-led Navi Mutual Fund (MF) on 2 August 2022 filed an offer document with the Securities and Exchange Board of India (Sebi) for a Gold Miners ETF Fund of Fund.
The scheme will replicate VanEck Gold Miners ETF (GDX), which is pegged to the NYSE Arca Gold Miners Index (GDMNTR). The index is designed to measure the performance of highly capitalized companies in the gold mining industry.
According to the scheme information document, the minimum application amount will be Rs 500 and in multiples of Re 1 thereafter. The scheme’s riskometer states that the scheme will fall in the ‘very high risk’ category.
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