Key facts
- HDFC Mutual Fund restricted bulk investments in gold ETFs and gold FoFs.
- Other top AMCs are considering similar restrictions.
- The AMCs involved manage over Rs 1.3 lakh crore in gold products.
Top Asset Management Companies (AMCs) in India are reportedly considering implementing restrictions on bulk investments in gold Exchange Traded Funds (ETFs) and Gold Funds of Funds (FoFs). This potential move follows a similar decision made by HDFC Mutual Fund, which recently restricted large investments in its gold ETF and FoF schemes. The AMCs that are contemplating these measures collectively manage a significant portion of the Indian gold ETF market, with assets under management exceeding Rs 1.3 lakh crore.