DSP ML World Gold fund had a stellar run, returning 60 per cent in 6 months since its inception in 2007, but then had a major correction when gold equities took a beating around the world.
Even when equity markets continued to slide, gold funds did exceptionally well in the first 4 months of the year 2008.
These two gold funds are feeder funds that instead of investing directly in gold mining companies abroad do so through a gold fund of Merrill Lynch and AIG Global, respectively. Both the World Gold Funds are treated as debt funds.
Also read: 10 biggest wealth creators of 2008
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