Introduction of Gold Exchange Traded Funds in India

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..... vide circular dated January 24, 2006, issued gazette notification no. S.O. 38(E) dated January 12, 2006 pertaining to SEBI (Mutual Funds) (Amendment) Regulations, 2006 on the captioned matter. Subsequently, SEBI had received some queries from mutual funds and custodians on certain operational aspects of GETF. The same has been examined and following guidelines are being issued: 1. Valuation Sin .....

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..... Asset Value NAV of units under the Scheme shall be calculated as shown below: Market or Fair Value of Scheme's investments + Current Assets Minus Current Liabilities and Provision NAV (Rs.) = _ No of Units outstanding under Scheme on the Valuation Date The NAV shall be calculated up to four decimals. 3. Recurring Expenses For a GETF, the limits applicable to equity schemes as specified .....

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