New fund launched
DSP Merrill Lynch Fund Managers has launched an open ended fund called DSP Merrill Lynch World Gold Fund.A release said the new fund offer would close on August 23. In the last few years, gold prices had gone up steadily due to the increasing demand – supply gap.Profitability of gold mining companies would increase with a rise in the price of gold. The fund would invest in gold mining companies. The investors had an access to MLIIF-WGF, one of the largest funds in its category. The minimum investment would be Rs. 5,000.