RGSF, is not a gold ETF (Exchange Traded Fund) but in fact the first Gold Fund of Fund (GFoF) in the Indian mutual fund industry. As per its offer document, the investment objective of the fund is "to seek to provide returns of that closely correspond to the returns provided by Reliance Gold Exchange Traded Fund." Hence to simply put, RGSF is positioned as a "feeder fund" which invests its corpus into Reliance Gold Exchange Traded Fund (RGETF), (which in turn invests in physical gold) and its (RGSF's) performance would be closely linked to the performance of the underlying fund - RGETF.
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Reliance Gold Savings Fund
Read more:
Reliance Gold Savings Fund