Date:24/07/2006 URL: http://www.thehindubusinessline.com/2006/07/24/stories/2006072402600400.htm

Back UTI hopes to launch Gold ETF in 2 months

Our Bureau

New Delhi , Jul 23

UTI Mutual Fund's gold exchange traded fund (ETF) is likely to hit the market in the next two months, according to Mr A.K. Sridhar, Chief Investment Officer, UTI Mutual Fund.

Speaking to presspersons on the sidelines of `The Mutual Fund Knowledge Summit,' organised by ICICI Bank - Private Banking, Mr Sridhar said discussions are on with the custodians to sort out certain issues about the new product.

He maintained that the Gold ETF would only supplement and not substitute activities in the commodities market with regard to this metal.

He also said UTI MF was keen to launch a real estate mutual fund in the coming days. Real estate mutual funds and gold ETFs could be good alternative avenues of investment for investors, Mr Sridhar said.