AUM (Assets under management) of exchange traded funds (ETFs) for gold in India, the world’s largest consumer of bullion, has clocked a year - on - year growth of 37% to Rs.11,198 crore by September 30, 2012.
The combined AUM of gold ETFs stood at Rs. 8,173 crore in the same period of 2011, according to NSE (National Stock Exchange).
Now, India has 14 mutual fund schemes offering gold ETFs.
With the on set of the wedding season and festivals like Diwali . Dhanteras, Dusherra, interest (for gold ETFs) is likely to pick up further, the NSE said .While earlier investors preferred to invest in physical gold, with higher awareness about the advantages of gold ETFs, this asset class is rapidly drawing a lot of investor attention, NSE also said.
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