UTI Mutual fund is launching a UTI Wealth Builder Fund - Series II scheme which will invest a portion of their assets in Equities and another portion in Gold Exchange Traded Fund. How is this fund? Is there any other existing scheme from UTI MF or any other Asset Management Company which is similar to the scheme mentioned above (part Equity-part Gold ETF)?
Currently launched UTI Wealth Builder Fund-Series II has come with an innovative idea, it will provide an exposure to a diversified portfolio of equity and equity based instruments, debt instruments as well as Gold ETFs (upto maximum 35%) by investing through a single fund. You can avail the diversification benefit by having some exposure in Gold ETFs without own a demat account. And since the equity exposure is a minimum of 65%, for tax purposes it will be treated like an equity fund. This fund could be idle for conservative investors.
Right now no other fund is available which is working on same theme.