India’s Gold ETF Assets More Than Double in March

Gold barsThe assets held under India’s gold exchange-traded funds (ETFs) more than doubled to ‎‎$1.93 billion (INR 98.86 billion) in March 2012, from $857.5 million (INR 44 billion) a year ‎earlier, according to data from the Association of Mutual Funds in India (AMFI).‎

Total assets under gold ETFs were at $1.91 billion (INR 97.95 billion) in February 2012, ‎AMFI data showed.‎

The number of gold ETFs in India have increased to 14 since the product was first ‎launched in early 2007. An ETF generally comprises a basket of securities, which ‎provide exposure to the market. ETF is traded on the stock exchange similar to a ‎company share.‎

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