AIG Investments launches World Gold fun

Asset management company AIG Investments on Thursday announced the launch of an open-ended world gold fund, to cash in on the ongoing uncertainty in global equity Markets and high inflation.

The feeder fund proposes to invest in Companies engaged in the extracting, processing and marketing of gold through its global fund AIG PB Equity Fund Gold.

"Keeping in mind the strong fundamentals of gold as an asset class, the fund is an alternative to equity investment. By investing in gold mining Companies, you could hedge your portfolio against market risks," AIG India CEO and MD Saurabh Sonthalia said. Gold stocks have the potential to outperform gold prices by a significant margin in the long run, he said.

The primary investment objective of the scheme is to provide long-term capital appreciation by investing predominantly in units of AIG PB Equity Fund Gold based in Zurich having corpus size of over USD 200 million.

At present, the global fund portfolio consists of 60 stocks across the different regions of the world.

The new fund offer will be open for purchase from April 15 to May 14 and will re-open for ongoing purchase and redemption by June 12.

AIG Investments, which manages five funds at present, has asset under management over Rs 3,200 crore.

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