Question about Gold ETF demat and redemption

POSTED BY Subrahmanyam ON August 2, 2013 2:18 pm COMMENTS (4)

Hi Manish and all,

   I have a query about Gold ETF which was taken from ICICI Prudential AMC as NFO. I don’t have any demat account and now I came to know that I cann’t redem or switch this ETF like other Mutual Funds. So please let me know should I need to open a Demat Account just to redeem this? So after opening a demat acccount should I also need a trading account with anyone to sell this or can I redeem just holding it in demat account? Please someone guide me.

Thanks and Regards,

P. Subrahmanyam 

 

4 replies on this article “Question about Gold ETF demat and redemption”

  1. Subrahmanyam says:

    Thanks Ashal for your suggestion. I will findout as suggested by you.

  2. Dear Subra, if the idea is to just transfer these units, please contact any nearby broker to you who may arrange some offline buyer with out opening a demat account for you. this ‘ll be cheaper than opening & closing demat account.

    thanks

    Ashal

  3. Subrahmanyam says:

    Thanks Ashal, Any suggestion about DP & Trading A/C provider.. very cheap and best. I don’t want to continue trading in future, Just want to open account and redeem this and close the DP & Trading Account. How much minimum should I need to expend for this?

  4. Dear P Subra, please open a demat & trading account. convert your physical units into demat & after that sell it through your trading account.

    Thanks

    Ashal

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