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Products Home / Products / Fund of Fund Schemes / HDFC Gold Fund
 
HDFC Gold Fund Print

This product is suitable for investors who are seeking*:
  • capital appreciation over long term.
  • investment in Units of HDFC Gold Exchange Traded Fund (HGETF). HGETF invests in gold bullion of 0.995 fineness.
  • high risk. (BROWN)

*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.

Note: Risk is represented as:

(BLUE) investors understand that their principal will be at low risk (YELLOW)) investors understand that their principal will be at medium risk (BROWN) investors understand that their principal will be at high risk
Investment Objective
The investment objective of the Scheme is to seek capital appreciation by investing in units of HDFC Gold Exchange Traded Fund.

Basic Scheme Information
Nature of Scheme An Open-ended Fund of Fund Scheme investing in HDFC Gold Exchange Traded Fund
Investment Objective The investment objective of the Scheme is to seek capital appreciation by investing in units of HDFC Gold Exchange Traded Fund.
Option/Plan Currently the Scheme offers only Growth Option.
Entry Load
(as a % of the Applicable NAV)

    Not Applicable.
  • Pursuant to SEBI circular no. SEBI/IMD/CIR No.4/ 168230/09 dated June 30, 2009, no entry load will be charged by the Scheme to the investor. Upfront commission shall be paid directly by the investor to the ARN Holder (AMFI registered Distributor) based on the investors' assessment of various factors including the service rendered by the ARN Holder.
Exit Load
(as a % of the Applicable NAV)

    In respect of each purchase / switch-in of units-
  • an Exit Load of 2% is payable if Units are redeemed / switched-out within 6 months from the date of allotment.
  • an Exit Load of 1% is payable if Units are redeemed / switched-out after 6 months but within 1 year from the date of allotment.
  • No Exit Load is payable if Units are redeemed / switched-out after 1 year from the date of allotment.
Minimum Application Amount
Purchase: 5,000 and any amount thereafter.
Additional Purchase: 1,000 and any amount thereafter.

Minimum Amount per SIP Installment
Monthly SIP: 500/- and in multiples of 100/-
Quarterly SIP: 1,500/- and in multiples of 100/-
Lock-In-Period Nil
Net Asset Value Periodicity The NAV will be calculated on all Business Days and will be disclosed on the website of HDFC Mutual Fund and on the website of Association of Mutual Funds in India - AMFI (www.amfiindia.com) by 10.00 a.m. on every next Business Day.
Redemption Proceeds Within 10 working days.
Tax Benefits
(As per present Laws)
Please click for details

The investor will bear the recurring expenses of the scheme in addition to the expenses of underlying scheme.
Current Expense Ratio (#)
(Effective Date 01st Nov 2011)

   

0.50%

 

Excluding Service Tax on Investment Management Fees, if any. 

Direct Plan shall have a lower expense ratio by 0.30%.

(#) Any change in the expense ratio will be updated within two working days.

 



Plan Name NAV Date NAV Amount
Direct Plan - Growth Option18 Sep 20149.4492
Growth Option18 Sep 20149.4151
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Investment Pattern
The table below provides the broad asset allocation of the portfolio of Scheme to be followed under normal circumstances:

Instruments Indicative Allocation (% to net assets) Risk Profile
Units of HDFC Gold Exchange Traded Fund 95% to 100% Medium to High
Reverse repo and /or CBLO and / or money market instruments and/or Schemes which invest predominantly in the money market securities or Liquid Schemes* 0% to 5% Low


*The Fund Manager may invest in Liquid Schemes of HDFC Mutual Fund. However, the Fund Manager may invest in any other scheme of a mutual fund registered with SEBI, which invest predominantly in the money market securities.
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Investment Strategy
The investment objective of the Scheme is to seek capital appreciation by investing in units of HDFC Gold Exchange Traded Fund.

To achieve the investment objective, the Scheme will predominantly invest in units of HDFC Gold Exchange Traded Fund. The Scheme shall buy/sell the HGETF units either directly with the Fund or through the secondary market on the Stock Exchange(s). The Scheme would also invest in Reverse repo and /or CBLO and / or money market instruments and/or Schemes which invest predominantly in the money market securities or Liquid Schemes to the extent necessary to meet the liquidity requirements for honouring repurchase or redemptions. The AMC shall endeavor that the returns of the Scheme will replicate the returns generated by the underlying ETF and is not expected to deviate more than 2%, on an annualized basis net of recurring expenses in the Scheme. This deviation would mainly occur on account of receipt of cash flows which generally takes upto 5 days as per current operational procedures and also on account of purchase/ sale of units of underlying scheme being done for processing Scheme's subscription/ redemption requests at prices different from that of the applicable NAV. Though every endeavor will be made to achieve the objective of the Scheme, the AMC/Sponsors/Trustees do not guarantee that the investment objective of the Scheme will be achieved. No guaranteed returns are being offered under the Scheme.

Though every endeavor will be made to achieve the objectives of the Scheme, the AMC/Sponsors/ Trustees do not guarantee that the investment objectives of the Scheme will be achieved. No guaranteed returns are being offered under the Scheme

Risk Control :
Investments made from the net assets of the Scheme would be in accordance with the investment objective of the Scheme and the provisions of the SEBI (MF) Regulations. The AMC will strive to achieve the investment objective by way of a judicious portfolio mix comprising of units of HGETF, Reverse repo and /or CBLO and / or money market instruments and/ or Schemes which invest predominantly in the money market securities or Liquid Schemes. Every investment opportunity in the above securities would be assessed with regard to credit risk, interest rate risk and liquidity risk.
Since investing requires disciplined risk management, the AMC would incorporate adequate safeguards for controlling risks in the portfolio construction process. The fund will comply with all applicable exposure limits and take actions. Effective and continuous monitoring of the Scheme shall be ensured and necessary actions, if any shall be taken, if required.

Credit Risk :
A detailed credit evaluation of each investment opportunity will be undertaken. The AMC will utilise ratings of recognised rating agencies as an input in the decision making process. Investments in Debt Securities and Money Market Instruments will usually be in instruments that have been assigned high investment grade ratings by a recognised rating agency. In line with SEBI Circular No. MFD/CIR/9/120/ 2000 dated November 24, 2000, the AMC may constitute committee(s) to approve proposals for investments in unrated instruments. The AMC Board and the Trustee shall approve the detailed parameters for such investments. The details of such investments would be communicated by the AMC to the Trustee in their periodical reports. It would also be clearly mentioned in the reports, how the parameters have been complied with. However, in case any security does not fall under the parameters, the prior approval of Board of AMC and Trustee shall be sought.

Interest Rate Risk :
An interest rate scenario analysis would be performed on an on-going basis, considering the impact of the developments on the macro-economic front and the demand and supply of funds. Based on the above analysis, the AMC would manage the investments of the Scheme on a dynamic basis to exploit emerging opportunities in the investment universe and manage risks at all points in time.

Liquidity Risk :
The AMC will provide liquidity by maintaining a low average duration of the portfolio and by investing in securities that would result in a staggered maturity profile of the portfolio. Liquidity will also be managed by investing in the Collaterilsed Borrowing & Lending Obligations (CBLO) / repo market when CBLO money / repo yields are attractive relative to other money market yields. Investment in debt instruments would generally be in securities that have reasonable secondary market activity. Due to the short duration of the portfolio and the low risk product profile, the effect of volatility in debt markets on the portfolio will be limited. This permits investors to enhance their yields without compromising on the quality of the portfolio. In the event of a requirement to liquidate all or a substantial part of these investments in a very short duration of time, the AMC may not be able to realize the full value of these securities leading to an adverse impact on the Net Assets of the Plan(s) under the Scheme.

Tracking Error:
Tracking error means the variance between daily returns of the underlying benchmark (gold in this case) and the NAV of the Scheme for any given period. NAV of the Scheme is dependant on closing trade price of HGETF. NAV so computed may vary from the price of Gold in the domestic market.
Tracking error can also be caused by late realization of cheques/demand drafts. However cheques in the normal course of banking would take 2/3 days for realization. Hence the investment can be done only on the 3rd or 4th day depending upon the timing of the credit in the Scheme account.

Applicable NAV (after the scheme opens for repurchase)
The NAV applicable for purchase or redemption or switching, based on the time of the Business Day on which the application is accepted.

For list of Self Certified Syndicate Banks (SCSBs) and their Designated Branches (DBs) click on the following links below:

SEBI Website - http://www.bseindia.com/bookbuilding/scsb.asp
BSE Website - http://www.bseindia.com/bookbuilding/scsb.asp
NSE Website - http://www.nseindia.com/content/ipo/scsb_list.zipList of SCSBs (including details Controlling Branch & Designated Branch)
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Systematic Investment Plan (SIP) Details

Scheme Name Minimum Application Amount(Rs.) Entry Load Exit Load
HDFC Gold Fund - Growth Option 500 for Monthly & 1500 for Quarterly NIL
    In respect of each SIP installment:
  • An Exit Load of 2% is payable if Units are redeemed / switched-out within 6 months from the date of allotment.
  • An Exit Load of 1% is payable if Units are redeemed / switched- out after 6 months but within 1 year from the date of allotment.
  • No Exit Load is payable if Units are redeemed / switched-out after 1 year from the date of allotment.

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Portfolios - Holdings
Please click here to view complete Scheme Portfolios
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