Dear Comrades,
Reliance Capital, on Friday, said it had decided to suspend sale of gold
in physical form, including supply of gold coins for sale through India
Post, and also as an investment product, across all its businesses and
subsidiaries.
Asset under management
Reliance Gold Fund is having an assets under management (AUM) of around
Rs.3,000 crore. Reliance Money is the largest distributor of gold coins
through its tie-up with India Post.
In addition, it said, Reliance Capital’s Commercial Finance Division had
decided to suspend financing against gold as a security. Further,
Reliance Capital Asset Management (RCAM), a part of Reliance Capital,
had decided to suspend new subscriptions in Reliance Gold Savings Fund.
However, “existing SIP investors will not be affected by this decision,”
it added.
http://www.thehindu.com
