Tuesday, March 09, 2010 17:24 Hrs IST

Quantum Gold Savings Fund files offer document with Sebi

An open ended fund of fund scheme

Quantum Mutual Fund has filed an offer document with Securities and Exchange Board of India (SEBI) to launch Quantum Gold Savings Fund, an open ended fund of fund scheme. The new fund offer (NFO) price for the scheme will be Rs 10 per unit.

The investment objective of the scheme is to provide capital appreciation by predominantly investing in units of Quantum Gold Fund – Exchange Traded Fund (QGF)

The scheme offers growth option.

The scheme would allocate 90% to 100% of assets in units of Quantum Gold Fund with medium to high risk profile. It would further allocate up to 10% of assets in money market instruments, short-term corporate debt securities, CBLO and units of debt and liquid schemes of mutual funds with low risk profile.

Entry load charge will be nil for the scheme. The scheme will charge an exit load of 1.5% if exited before 1 year from the date of allotment.

Minimum application amount will be Rs 500 and in multiples of Re 1 thereafter for Non SIP.

The minimum subscription (target) amount of Rs 1 lakh is expected to be raised during the NFO period.

The Scheme's performance will be benchmarked against domestic price of gold.

The scheme will be managed by Mr. Chirag Mehta.