Hi
I started my SIP in Reliance Gold fund on March-2011. So far I have managed to accumulate 1 lakh (approx) with the current CAGR of -4.54% and Absolute return of -5.25%.
Now my financial adviser said that AMCs are no more going to offer any new Gold ETF funds.
Not sure if this is correct, and even if correct not sure of the reason !!!
In this scenario, he says it is better to close the existing reliance gold fund.
I was hoping that this fund would spring back in value as it has been performing good in the past ( 1 year back it had a CAGR of almost 20% ), till then I keep buying at the current low rate. This ‘may’ lead to good profit in the future.
Please suggest what do you think is the best in this scneario and current gold ETF trend.
Thanks
Hari Sudhan