Goldman Sachs Mutual Fund has launched its first equity mutual fund Goldman Sachs India Equity Fund, which is available under both dividend and growth options. The fund is open for subscription from October 17 to October 31.
Goldman Sachs India Equity Fund is the first open-ended equity diversified fund, launched by Goldman Sachs Mutual Fund since it took over Benchmark Asset Management in 2011, which operated a bunch of exchange traded funds (ETF) and an index fund.
The scheme aims to generate long-term capital growth from an actively managed portfolio primarily of equity & equity related securities.
The scheme is intended for long-term investors who can accept the risks associated with in vesting primarily in such securities.
Multi-cap stocks
The scheme is benchmarked to S&P CNX 500 Index. The investment will be in multi-cap stocks. The fund house will have a bottom-up investment approach.
Besides equity, the scheme may invest in convertible securities, that are debt obligations of the issuer convertible at a stated exchange rate into equity shares.
The scheme has an exit load of 1% if the units are redeemed or switched-out within one year of allotment of units. No exit load will be charged if the units are redeemed after one year of allotment,
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