Gold Accumulation Facility
SBI Gold Fund announces the unique Gold Accumulation Facility under it's Systematic Investment Plan (SIP) / Systematic Transfer Plan (STP). Now investors can decide on a quantity of gold that they want to purchase at regular intervals. SBI Gold Fund invests its corpus in SBI GETS (SBI Gold Exchange Traded Scheme). Under this facility, you can opt for the SIP/STP installments in terms of number of units of SBI GETS. One unit of SBI GETS represents approximately one gram of gold. (Refer to terms and conditions of Gold Accumulation Facility before investing). Invest in SBI Gold Fund just like any other mutual fund scheme, providing you an opportunity to take exposure into Gold as an asset class, in a convenient way.

SBI Gold Fund is an open ended fund of fund scheme, which will invest in units of SBI Gold Exchange Traded Scheme (SBI GETS). The scheme seeks to provide returns that closely correspond to the returns provided by SBI GETS.

Now you can invest in SBI Gold Fund by quantity
The Gold Accumulation Facility would allow you to invest in the scheme based on a specific quantity of SBI Gold Exchange Traded Schemes (SBI GETS) unit, wherein unit of SBI GETS represent approximately one gram of Gold.

Earlier, SBI Gold Fund investors could invest only by value of SIP amount alone and not by quantity. With the introduction of Gold accumulation facility, it would now be additionally possible for investors to invest basis the quantity of gold (grammage) via the same SIP / STP route.

The Gold accumulation facility can be used by investors through Systematic Investment Plan (SIP) and Systematic Transfer Plan (STP) route. The amount will be calculated for each SIP/STP instalment into SBI Gold Fund, based on the NAV of SBI GETS and the number of units as specified by investor. The amount will be debited from investors’ bank account (for SIP) or will be transferred for source scheme (for STP) and will be invested into SBI Gold Fund at the applicable NAV of SBI Gold Fund on the transaction day. Hence the amount debited will be dynamic every month/quarter. The facility on SIPs will be available through direct debit banks.

Terms & conditions for the Gold Accumulation Facility SIP:

  • Target scheme: SBI Gold Fund
  • Frequency: Monthly & Quarterly
  • Minimum units: 1 unit of SBI GETS & in multiples of thereof
  • Maximum SIP instalment amount will be capped at Rs. 1 lakh.<
  • Minimum number of instalments: 6 for monthly SIP & 4 for quarterly SIP.
  • This facility will be available only through direct debit banks.
  • Investor will mention number of units of SBI GETS as SIP instalment in SIP mandate form.
  • Instalment amount will be calculated based on SBI GETS NAV, four business days prior to the due date, and will be rounded off to the nearest rupee and accordingly, units will be allotted for SBI Gold Fund. For example SIP due date is 5th January 2013. Installment amount will be calculated based on SBI GETS NAV of 1st January 2013.
  • SIP is available only on specific dates of the month viz. 5th/10th/15th/20th/25th/30th (For February, last business day). In case 5th/10th/15th/20th/25th/30th (For February, last business day) is a holiday then next business day.
  • All other terms & conditions of regular SIP will be applicable for Gold Accumulation Facility SIP in SBI Gold Fund

Terms & conditions for the Gold Accumulation Facility STP:

  • Target scheme: SBI Gold Fund
  • Source scheme: All open ended schemes
  • Frequency: Weekly, Monthly & Quarterly
  • Minimum units: 1 unit of SBI GETS & in multiples of thereof.
  • Minimum number of instalments: 6 for weekly & monthly STP & 4 for quarterly STP.
  • Instalment amount will be calculated based on SBI GETS NAV on the day of transaction, and will be rounded off to the nearest rupee and accordingly units will be allotted for SBI Gold Fund.
  • Weekly STP will be done on 1st, 8th, 15th& 22nd in a month. In case any of these day is non-business day then the immediate next business day will be considered.
  • Investor will mention number of units of SBI GETS as STP instalment in STP form.
  • Completed application form for STP should be submitted by investors at least 10 days before the first transaction date
  • Exit load as applicable in the target/source schemes
  • Default frequency for STP is Monthly & default date for the start of STP is 10th.
  • STP can be done without any restriction on maintaining the minimum balance requirement as stipulated for the switch out scheme.
  • All other terms & conditions of regular STP will be applicable for Gold Accumulation Facility STP in SBI Gold Fund.

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