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Akshaya Tritiya 2024: Invest in these gold mutual funds for excellent returns

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Published Date: 21 Mar 2024Updated Date: 25 Nov 20246 mins readBy MOFSL
Top Gold Mutual Funds

Introduction:

The occasion of Akshaya Tritiya is around the corner. As per the ancient Hindu culture, Akshaya Tritiya is considered a highly auspicious day to start a new venture and make fresh investments. It is believed that doing so can bring wealth, prosperity, and good luck. In 2024, this occasion will fall on Friday, 10 May, 2024.

As an investor, you might also be contemplating where to invest your money on Akshaya Tritiya for auspicious and potentially lucrative returns. One of the most traditional and popular investment avenues during this time is gold. While physical gold remains a favoured choice, gold mutual funds offer a convenient and hassle-free alternative for those looking to capitalise on the precious metal's stability and long-term growth prospects.

In this blog post, you will explore some top-rated gold mutual funds that you can consider adding to your portfolio this Akshaya Tritiya. Keep reading.

  • SBI Gold Fund

SBI Gold Fund, managed by SBI Mutual Fund, is one of the most popular gold mutual funds in India. It invests primarily in physical gold, providing your investments with direct exposure to domestic gold prices. With a track record of consistent performance and low expense ratio, the SBI Gold Fund remains a top choice for investors seeking stability and capital appreciation through gold investments.

As of 19 March 2024, the Net Asset Value (NAV) for SBI Gold Fund stood at Rs. 20.48 per unit. The total fund size stood at Rs. 1,506 crores. The three-year return of the fund stood at 12.40%.

  • HDFC Gold Fund

HDFC Gold Fund is another prominent gold mutual fund you can consider for your investment portfolio. Managed by HDFC Mutual Fund, this fund aims to generate returns that closely track domestic gold prices. With its strong brand reputation and focus on investor satisfaction, HDFC Gold Fund remains a preferred choice for investors seeking exposure to gold.

As of 19 March 2024, the NAV for this fund stood at Rs. 20.91 per unit. The total fund size stood at Rs. 1,682 crores. The fund has received a 4-star rating from Value Research Online.

  • Axis Gold Fund

Managed by Axis Asset Management Company (AMC), Axis Gold Fund aims to generate returns that closely correspond to the returns provided by physical gold in India. The fund invests predominantly in units of Axis Gold ETF, which in turn invests in physical gold of 99.5% purity. With its transparent investment strategy and competitive expense ratio, Axis Gold Fund offers you a convenient way to expose your investments to domestic gold prices.

As of 19 March 2024, the NAV for this fund stood at Rs. 21.29 per unit and the total fund size stood at Rs. 377 crores. The three-year return stood at Rs. 12.32%.

  • Aditya Birla Sun Life Gold Fund

Aditya Birla Sun Life Gold Fund is managed by Aditya Birla Sun Life Mutual Fund and aims to provide returns that closely correspond to the returns provided by gold. The fund invests primarily in units of Aditya Birla Sun Life Gold ETF, which in turn invests in physical gold. With its experienced fund management team and consistent performance track record, Aditya Birla Sun Life Gold Fund offers you a reliable avenue to invest in domestic gold.

As of 19 March 2024, the NAV for this fund stood at Rs. 20.23 per unit and the total fund size stood at Rs. 293 crores. The three-year return stood at 12.34%.

To conclude

As Akshaya Tritiya approaches, gold continues to be a favoured investment choice for many investors in India. While physical gold remains a traditional option, gold mutual funds provide you with a convenient and efficient way to invest in the precious metal. The gold mutual funds mentioned above allow you to diversify your investment portfolio and benefit from the spiralling domestic gold prices.

However, as with any other investment instrument, you must conduct thorough research and consult financial advisors before making investment decisions. By choosing the right gold mutual fund, you can potentially capitalise on the precious yellow metal's stability and long-term growth prospects.

 

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Disclaimer: The stocks, companies, or financial instruments mentioned in this blog are for informational purposes only and should not be considered as investment recommendations. It is advised to consult with your financial advisor before making any investment decisions. Investment in securities markets are subject to market risks, read all the related documents carefully before investing. Investors are strongly encouraged to carefully read the risk disclosure documents prior to participating in market-related investments or trading activities. Due to the volatile nature of financial markets, no guarantees can be made regarding investment returns. Motilal Oswal Financial Services Ltd. does not offer any assured returns on market-linked securities. Please note that past performance of stocks or indices is not indicative of future results.
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