FINANCE NEWS

AIG World Gold Fund tops MF schemes last week
Bangalore: The open ended scheme, AIG World Gold Fund tops mutual fund topped the MF charts last week after seeing a growth rate of 5.6902 percent. As of April 29, 2010, the net asset value (NAV) of the scheme was Rs. 12.42.
The primary investment objective of the scheme is to provide long term capital appreciation by investing predominantly in units of AIG PB Equity Fund Gold, according to Mutualfundsindia.com. The scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes. The Scheme may also invest a certain portion of its corpus in debt and money market securities and/or units of debt/liquid schemes of MFs, in order to meet liquidity requirements from time to time.
As on March 30, 2010, the fund size of AIG World Gold Fund was Rs. 202.67 crore and the Fund Manager is Ruchir Parekh. Other top MFs in the list include Birla Sun Life Commodity Equities Fund - Gbl Pre Metals, Reliance Banking Fund, DSP BlackRock World Gold Fund and DSP BlackRock World Gold Fund.