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India’s Gold ETF Assets Nearly Double in May
Jun 14, 2012 3:25 AM
By Dilipp S Nag
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RAPAPORT... The assets held under India’s gold exchange-traded funds (ETFs) nearly doubled year on year to $1.85 billion (INR 103.12 billion) as of May 31, 2012. The assets were valued at $981 million (INR 54.63 billion) a year earlier, according to the Association of Mutual Funds in India (AMFI).
Total assets under gold ETFs were at $1.83 billion (INR 102.18 billion) in April 2012, AMFI data showed.
The number of gold ETFs in India has increased to 14 since the product was first launched in early 2007. An ETF is generally comprised of a basket of securities, which provide broad exposure to the market. ETF is traded on the stock exchange similar to a company share.
*Note: All data was published in rupee. Any references to U.S. dollar amounts were made according to exchange-rate conversions by Rapaport News.
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Tags:
Dilipp S Nag, etf, etfs, gold, Gold ETFs, India, Rapaport
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