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:
    August 4, 2013 at 7:40 am

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

    Reply
  2. Ashal Jauhari says:
    August 3, 2013 at 11:36 pm

    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

    Reply
  3. Subrahmanyam says:
    August 3, 2013 at 3:59 am

    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?

    Reply
  4. Ashal Jauhari says:
    August 3, 2013 at 2:47 am

    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

    Reply

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.