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Fourth tranche has opened today
Mumbai: Large number of investors and mutual fund players are set to benefit from National Stock Exchange of India Limited?s (NSE) electronic mutual fund platform which has started offering subscription to Sovereign Gold Bonds.
NSE?s online web based portal - called NMF II - is made for distributors to place mutual fund (MF) transactions on behalf of their clients. As of now, NMF II is the only online MF platform offering Sovereign Gold Bonds to investors. Recently, RBI has appointed NSE as 'Receiving Office' for collecting subscription bids from investors. The issue price of sovereign gold bond has been fixed at Rs 3,119 per gram. The fourth tranche of subscription has started today and will be open till 22. The investors have the flexibility to invest in demat or non-demat form in Sovereign Gold bonds through this platform.
NMF II is aimed at enabling the mutual fund distributors to improve their reach and allows registered distributors to transact in Mutual Funds through NSE's infrastructure. Currently, NMF II platform is one of the largest online platforms in the country for MF investments with approximately 1800 members and 96000 investors registered on the platform.
Investors of sovereign gold bond not only benefit from change in value of gold but also earn a 2.75% interest which makes this product very unique. Besides, these bonds can also be used as collateral for bank loans. The tenor of these bonds is 8 years with exit options in 5th, 6th and 7th year also. These bonds are tradable through stock exchanges including NSE. While lo
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