India Gold ETF's hold 40 tons of Gold
Analysts however said, the 40 tons of ETF gold is only about 10 per cent of the 398 tonnes of gold imported in the April-October 2012 period.
After five years of it's introduction in India, all 14 Gold ETF's together holds a staggering 40 tons of gold.
According to reports, Goldman Sachs Gold ETF leading the pack with 11,218 kg, followed by RShares Gold ETF with nearly 9,800 kg, and Kotak Gold ETF and SBI Gold ETS hold about 4,500 kg each.
Analysts however said, the 40 tons of ETF gold is only about 10 per cent of the 398 tonnes of gold imported in the April-October 2012 period.
The first gold ETF was launched by Benchmark Mutual Fund (now Goldman Sachs) in early 2007 and now there are 14 mutual fund houses present in this segment managing gold assets worth nearly Rs 12,000 crore, as per the data available with industry body Association of Mutual Funds in India (Amfi).
Comparatively, smaller gold ETFs from UTI and HDFC fund houses manage gold weighing less than three tonnes each, individual portfolio for December 2012 shows.
One tonne is equal to 1,000 kg. ETFs allow investors to trade in the metal in non-physical form electronically on stock exchanges, also aim to provide investors returns linked with domestic price of physical gold, but holdings are maintained in demat form.
Recently,India’s central bank the RBI recommended that to gainfully use the gold reserves with Indian ETFs and reduce the demand for gold, a certain part of the total corpus of the fund could be loaned to the permitted categories of bulk gold importers.
It also linked gold ETF schemes offered by mutual funds to gold deposit schemes of banks with a view to increase availability of physical gold in the market.
Sumber : Google
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