Increased investor appetite for paper gold assets has led to higher trade volumes record in gold ETFs in stock exchanges in India in 2011-12. Two new gold etfs- Canara Bank Robeco Gold ETF and Motilal Oswal MOST Gold Shares ETFs were launched this year while PNB Asset Management-Vijaya Bank has sought approval from SEBI for a gold ETF
UMBAI (Commodity Online): India Gold ETFs have provided impressive returns for investors in 2011-12 with majority of them making gains above 33%. SBI Mutual Fund Gold ETF (NSE: SBIGETS) has topped the charts with a gain of 35.78%, according to analysis of data from National Stock Exchange.
Among the other gold ETFs that have been trading in the 2011-12 period in India stock exchanges, Axis Bank Gold ETF (NSE:AXISGOLD) gave returns of 33.18% , Goldman Sachs Gold ETF (GOLDBEES) gave a return of 33.65%, UTI Gold ETF (GOLDSHARE) 32.51%, HDFC Gold ETF (HDFCMFGETF) 33.19%, ICICI Prudential (IPGETF) 32.95%; Kotak Gold ETF (KOTAKGOLD), 32.66%, Quantum Gold ETF (QGOLDHALF), 33.95%, Reliance Mutual Fund (RELGOLD) 33.59%, Religare Mutual Fund Gold ETF (RELIGAREGO), 33.72% Three gold ETFs, Birla Sunlife Gold ETF (BSLGOLDETF), Canara Bank Robeco Gold ETF (CRMFGETF) and Motilal Oswal Most Share Gold ETF (MGOLD) was not traded fully during 2011-2012 period and hence not comparable with the other major ETFs. Birla Sunlife Gold ETF has provided a return of 25.87% since 23 May 2011 till date, CRMFGETF 7.23% since 27 March 2012 till date and MGold 2.92% since March 27 2012. Gold ETFs have become a favourite with retail investors and latest data from Association of Mutual Funds in India (Amfi), show that assets under management (AUMs) under gold ETFs have more than doubled to Rs 9,886 crore as on March 31, 2012, from Rs 4,400...
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