Canara Robeco Mutual Fund launched a new open ended fund of fund scheme named Canara Robeco Gold Savings Fund. The New Fund Offer (NFO) price for the scheme was INR 10 per unit. NFO opened for subscription on June 4, 2012 and will close on June 18, 2012. The entry load was nil, while the exit load of 2% will be charged if fund redeemed or switched out on or before completion of 1 year from the date of allotment of units. The minimum application amount was INR 5,000 and in multiples of INR 1 thereafter. The two options were available under the Plan of the Scheme namely Growth and Dividend Payout option. The performance of the scheme will be standardized against Domestic price of physical gold. Akhil Mittal and Kiran Shetty will be the Fund Manager of the scheme. The asset allocation of scheme will be in such a way that the objective of the scheme to provide returns that closely correspond to returns provided by Canara Robeco Gold Exchange Traded Fund. Hence, the scheme will allocate 95% to 100% of assets in units of Canara Robeco Gold ETF and 0% to 5% in debt and money market instruments.

Canara Robeco Mutual Fund has launched the New Fund Offer Canara Robeco Gold Exchange Traded Fund, an open ended exchange traded fund. The NFO opens and closes for subscription on March 16, 2012. No entry and exit load charges is applicable for the scheme. The scheme will be benchmark against Domestic Price of Physical Gold. The minimum application amount is INR 5000 and in multiples of INR 1 thereafter. The scheme will be managed by Akhil Mittal. The investment objective of the scheme is to generate returns that are in line with the performance of gold, subject to tracking errors.

Canara Robeco Asset Management Company Ltd. announced the resignation of Arvind Sethi as Independent Director from the board.