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SIP in gold savings fund has been launched in India by Reliance Mutual Fund, the largest fund house of India. It is the first time such a scheme has been issued for the investors.
This will help the investors who can’t afford to buy gold in bulks to accumulate it regularly and in small amounts. SIP will make them not only invest in gold but also buying gold which is like a tradition in India particularly for occasions such as marriage etc.
The scheme allows investors to have small SIPs even of Rs 100 per month and in multiples of Re 1 thereafter and so is quite affordable for a common man. To invest in gold, the investors don’t need to have demats as because; they can invest in it directly either through physical form or using online facilities. Also, it allows one to invest in paper gold as it is only one to facilitate investing in paper gold despite having no demat account.
The offer will now, give an option for long term investors as well to consider gold mutual funds launched by Reliance to enhance their investment portfolio. The fund have all the taxation benefits long term investments provide from the very first year itself unlike physical gold which provides it after three years of investment. Also’ there is no need to worry about the purity and storage of gold.
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