India ETFs' gold collection up at 4.135 tonnes end April
MUMBAI, May 6 (Reuters) - India's total gold collections by five exchange-traded funds (ETF) at the end of April grew by 5 percent to 4.135 tonnes, the ETFs said on Tuesday.
"Retail investors are in it as gold has shown good returns on year and also because they have taken a beating in stocks," said a fund manager, who did not want to be identified. The ETFs' gold collections were highest in December at 4.265 tonnes.
India's gold ETFs -- instruments that trade like shares and are backed by physical gold holdings -- are one year old, and several other investment firms are planning an entry into market.
The following table shows ETFs' gold holdings in metric tonnes and their value in billion rupees:
End April End March
Fund Gold Value Gold Value =============================================================
Benchmark GBES.NS 1.351 1.55 1.268 1.55
UTI UTGF.NS 1.294 1.52 1.275 1.56
Kotak KTGF.NS 0.303 0.35 0.274 0.34
Reliance Capital RELE.NS 1.151 1.34 1.090 1.34
Quantum QTGF.NS 0.036 0.04 0.030 0.04 =============================================================
Total 4.135 4.8 3.937 4.83
NOTE - Value figures are average of the month and are taken from www.amfiindia.com.
(Reporting by Ruchira Singh; Editing by Prem Udayabhanu)
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