The 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.