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Bangalore: 'AIG World Gold Fund' topped the list of mutual fund schemes in the week ended September 03, 2009. The value of AIG scheme went up by 10.97 percent with the net asset value (NAV) of Rs.11.16. Ruchir Parekh is the Fund Manager of this open ended scheme, which had a market size of Rs.266.8 crore as on Aug 31, 2009.
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'. 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 or units of debt schemes of mutual funds, in order to meet liquidity requirements from time to time. According to mutualfundsindia.com, other funds which followed AIG World Gold Fund in top list for the last week are Birla Sun Life Commodity Equities Fund, which gained by 10.96 percent, DSP BlackRock World Gold Fund by 9.5 percent, Quantum Gold Exchange Traded Fund by 3.82 percent and Kotak Gold ETF by 3.8 percent.According to the data released by Association of Mutual Funds in India (AMFI), in the last one year, the mutual fund (MF) industry has shown a 42 percent growth in average assets under management (AUM).