
The United Kingdom (UK) is an important trade partner of India, as a lot of UK-based Non-Resident Indians (NRIs) invest in India. Also, India is one of the fastest growing economies in the world, it attracts thousands of NRI investors from abroad.
Many NRIs living in the UK invest in debt and equity Market for earning good returns. Mutual Funds are a great option to earn higher Income when compared to traditional investments. The longer you invest in MFs the higher are the possibilities to earn good returns.
Usually, NRIs living in the UK plans their long-term Financial goals like retirement by Investing in mutual funds in India. Investors living in the UK who are planning for mutual fund investment, the first thing you always need to do before deciding on the fund is to- determine the time frame of the investment. For instance, if you require the money within three years or less Call it as short-term. If you would redeem the investment between three to five years call it as mid-term and anytime above five years call it as long-term.
UK-based NRIs who want to invest in Mutual Funds in India there are some of the important guidelines & rules that need to be followed in order to begin their investment.

To invest in Mutual Funds in India one is supposed to open any of the following accounts with an Indian Bank:
This is Non-Resident External (NRE) account which can be in the form of savings, current, fixed or Recurring deposit. You need to deposit the foreign currency in this account. To be able to deposit Indian currency, you must open NRO account. There is no upper limit on the transaction amount in an NRE account.
The NRO or Non-Resident Ordinary account is in the form of savings or current account that is meant for NRIs to manage their income earned in India. In NRO account, foreign currency gets converted into Indian rupees after it gets deposited. An NRO account can be held jointly with another NRI as well as resident Indian (close relatives).
This stands for Foreign Currency Non-Repatriable account deposits. In this account, NRIs can remit their Earnings in one of the six currencies such as Canadian $, US$, Euro, AU$, Yen, and Pound. Funds can be transferred from other FCNR or NRE accounts. In FCNR, the principal and interest don’t accrue any tax.
Once you open any of these accounts, you need successfully complete your KYC (Know Your Customer), under KYC norms, which is set by SEBI (Securities Exchange Board of India). One can complete their KYC with any of the SEBI-registered intermediates.
To successfully complete your KYC procedure, UK NRIs need to complete certain important steps and furnish documents like:
An NRI needs to submit the KYC Form with all the necessary details filled to the SEBI registered intermediate. The documents can be sent by courier/post to the intermediate.
Following are the necessary documents that need to be submitted:
In case of NRIs in the Merchant Navy, a mariner’s declaration or certified copy of Continuous Discharge Certificate must be submitted.
NRIs or PIOs (Person of India Origin) can get the above documents attested by the authorised officials of overseas branches of scheduled commercial banks registered in India, judge, court magistrate, public notaries, or the Indian embassy/consulate general in the country that they are located.
As per SEBI rules, IPV is mandatory for KYC process. The intermediate should conduct the IPV of NRIs/PIOs.
Please note that all the above documents/proofs while submitting should be in the English language.
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Capital Gains Tax Rates on NRI Mutual Fund Investments for the Financial Year 2017-18 (Assessment Year 2018-19) are as below:
NRI taxation on Mutual Funds- Capital Gains Tax Rates- FY 2017/2018 (AY- 2018-19)
| Types of Mutual Fund Scheme | Short Term Capital Gains (STCG) | Long Term Capital Gains (LTCG) | 
|---|---|---|
| Equity Funds- STCG- Units held less than or equal to a year, LTCG- Units held more than a year | 15% | Nil | 
| Non-Equity Funds- STCG- Units held for 3 years or less, LTCG- Units held for more than 3 years | As per Individual’s income tax bracket | On listed funds-20% (with indexation), Unlisted funds- 10% (without indexation) | 
Dividends on Equity Funds: The dividend received in the hands of unit holder for equity funds is completely tax-free. The dividend is also tax-free to the AMC.
Dividends on Debt Funds: The AMC has to pay a dividend distribution tax (DDT) of 28.84% before distributing this dividend income to its unit-holders. The dividend income received by a Debt fund unit holder is also tax-free.
Below is the TDS rate applicable on MF redemptions by NRIs for AY 2018-19.
NRI Taxation on Mutual Funds- Capital Gains Tax Rates- FY 2017/2018 (AY- 2018-19)
| Mutual Fund Redemptions by NRIs & TDS Rate | STCG & TDS Rate | LTCG & TDS Rate | 
|---|---|---|
| Type of MF Scheme | ||
| Equity Oriented Funds | 15% | Nil | 
| Debt Funds | 30% | On listed funds- 20% (with indexation), unlisted funds- 10% (without indexation) | 
Some of the most popular cities in UK where you can find most Indians are:
Fund 3 MO (%) 6 MO (%) 1 YR (%) 3 YR (%) 5 YR (%) 2024 (%) Sub Cat. Franklin India Short Term Income Plan -  Retail Plan Growth  192.1 192.1 192.1 47.3 32.5     Short term Bond  DSP World Gold Fund Growth  29.6 43.8 72.6 43.5 15 15.9  Global  ICICI Prudential Regular Gold Savings Fund Growth  18 22.2 46.9 30.5 16.6 19.5  Gold  Franklin India Opportunities Fund Growth  4.7 12.1 9 30.4 27.7 37.3  Sectoral  Nippon India Gold Savings Fund Growth  17.9 22.3 46.7 30.3 16.3 19  Gold  HDFC Gold Fund Growth  17.8 21.8 46.6 30.3 16.3 18.9  Gold  SBI Gold Fund Growth  17.8 21.7 46.5 30.3 16.5 19.6  Gold  SBI PSU Fund Growth  5.8 7 6.2 30.1 33.3 23.5  Sectoral  IDBI Gold Fund Growth  16.1 19.7 44.1 29.9 16.6 18.7  Gold  Axis Gold Fund Growth  17.1 21.1 45.2 29.9 16.1 19.2  Gold  Note: Returns up to 1 year are on absolute basis & more than 1 year are on CAGR basis. as on 2 May 25   Research Highlights & Commentary of 10 Funds showcased
Commentary Franklin India Short Term Income Plan -  Retail Plan DSP World Gold Fund ICICI Prudential Regular Gold Savings Fund Franklin India Opportunities Fund Nippon India Gold Savings Fund HDFC Gold Fund SBI Gold Fund SBI PSU Fund IDBI Gold Fund Axis Gold Fund Point 1 Bottom quartile AUM (₹13 Cr). Lower mid AUM (₹1,421 Cr). Lower mid AUM (₹2,603 Cr). Highest AUM (₹7,509 Cr). Upper mid AUM (₹3,439 Cr). Upper mid AUM (₹4,915 Cr). Top quartile AUM (₹5,221 Cr). Upper mid AUM (₹5,179 Cr). Bottom quartile AUM (₹254 Cr). Bottom quartile AUM (₹1,272 Cr). Point 2 Established history (23+ yrs). Established history (18+ yrs). Established history (14+ yrs). Oldest track record among peers (25 yrs). Established history (14+ yrs). Established history (14+ yrs). Established history (14+ yrs). Established history (15+ yrs). Established history (13+ yrs). Established history (14+ yrs). Point 3 Rating: 2★ (upper mid). Top rated. Rating: 1★ (lower mid). Rating: 3★ (top quartile). Rating: 2★ (upper mid). Rating: 1★ (bottom quartile). Rating: 2★ (upper mid). Rating: 2★ (lower mid). Not Rated. Rating: 1★ (bottom quartile). Point 4 Risk profile: Moderate. Risk profile: High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: Moderately High. Risk profile: High. Risk profile: Moderately High. Risk profile: Moderately High. Point 5 1Y return: 192.10% (top quartile). 5Y return: 15.01% (bottom quartile). 5Y return: 16.57% (upper mid). 5Y return: 27.67% (upper mid). 5Y return: 16.34% (lower mid). 5Y return: 16.29% (bottom quartile). 5Y return: 16.50% (lower mid). 5Y return: 33.32% (top quartile). 5Y return: 16.64% (upper mid). 5Y return: 16.06% (bottom quartile). Point 6 1M return: 192.10% (top quartile). 3Y return: 43.47% (top quartile). 3Y return: 30.47% (upper mid). 3Y return: 30.43% (upper mid). 3Y return: 30.33% (upper mid). 3Y return: 30.33% (lower mid). 3Y return: 30.31% (lower mid). 3Y return: 30.06% (bottom quartile). 3Y return: 29.91% (bottom quartile). 3Y return: 29.87% (bottom quartile). Point 7 Sharpe: -90.89 (bottom quartile). 1Y return: 72.56% (top quartile). 1Y return: 46.87% (upper mid). 1Y return: 8.95% (bottom quartile). 1Y return: 46.67% (upper mid). 1Y return: 46.61% (upper mid). 1Y return: 46.53% (lower mid). 1Y return: 6.17% (bottom quartile). 1Y return: 44.09% (bottom quartile). 1Y return: 45.18% (lower mid). Point 8 Information ratio: -2.42 (bottom quartile). Alpha: 3.15 (top quartile). 1M return: 2.73% (upper mid). Alpha: 2.40 (top quartile). 1M return: 2.74% (upper mid). 1M return: 2.46% (lower mid). 1M return: 2.48% (lower mid). Alpha: -0.35 (bottom quartile). 1M return: 1.69% (bottom quartile). 1M return: 1.97% (bottom quartile). Point 9 Yield to maturity (debt): 0.00% (top quartile). Sharpe: 1.80 (lower mid). Alpha: 0.00 (upper mid). Sharpe: -0.43 (bottom quartile). Alpha: 0.00 (upper mid). Alpha: 0.00 (upper mid). Alpha: 0.00 (lower mid). Sharpe: -0.81 (bottom quartile). Alpha: 0.00 (lower mid). Alpha: 0.00 (bottom quartile). Point 10 Modified duration: 0.00 yrs (top quartile). Information ratio: -1.09 (bottom quartile). Sharpe: 2.55 (upper mid). Information ratio: 1.75 (top quartile). Sharpe: 2.52 (upper mid). Sharpe: 2.55 (upper mid). Sharpe: 2.58 (top quartile). Information ratio: -0.37 (bottom quartile). Sharpe: 2.38 (lower mid). Sharpe: 2.57 (top quartile). Franklin India Short Term Income Plan -  Retail Plan
DSP World Gold Fund
ICICI Prudential Regular Gold Savings Fund
Franklin India Opportunities Fund
Nippon India Gold Savings Fund
HDFC Gold Fund
SBI Gold Fund
SBI PSU Fund
IDBI Gold Fund
Axis Gold Fund
*List of funds is based on past 3 Year Returns in decending order.
 The objective of the Scheme is to provide investors stable returns by investing in fixed income securities.   Below is the key information for Franklin India Short Term Income Plan -  Retail Plan   Returns up to 1 year are on   "The primary investment objective of the Scheme is to seek capital appreciation by investing predominantly in units of MLIIF - WGF. The Scheme may, at the discretion of the Investment Manager, also invest in the units of other similar overseas mutual fund schemes, which may constitute a significant part of its corpus. The Scheme may also invest a certain portion of its corpus in money market securities and/or units of money market/liquid schemes of DSP Merrill Lynch Mutual Fund, in order to meet liquidity requirements from time to time. However, there is no assurance that the investment objective of the Scheme will be realized."   Research Highlights for DSP World Gold Fund   Below is the key information for DSP World Gold Fund   Returns up to 1 year are on   ICICI Prudential Regular Gold Savings Fund (the Scheme) is a fund of funds scheme with the primary objective to generate returns by investing in units of ICICI Prudential Gold Exchange Traded Fund (IPru Gold ETF).
However, there can be no assurance that the investment objectives of the Scheme will be realized.   Research Highlights for ICICI Prudential Regular Gold Savings Fund   Below is the key information for ICICI Prudential Regular Gold Savings Fund   Returns up to 1 year are on   The investment objective of Franklin India Opportunities Fund (FIOF) is to generate capital appreciation by capitalizing on the long-term growth opportunities in the Indian economy.   Research Highlights for Franklin India Opportunities Fund   Below is the key information for Franklin India Opportunities Fund   Returns up to 1 year are on   The investment objective of the Scheme is to seek to provide returns that closely correspond to returns provided by Reliance ETF Gold BeES.   Research Highlights for Nippon India Gold Savings Fund   Below is the key information for Nippon India Gold Savings Fund   Returns up to 1 year are on   To seek capital appreciation by investing in units of HDFC Gold Exchange Traded Fund (HGETF).   Research Highlights for HDFC Gold Fund   Below is the key information for HDFC Gold Fund   Returns up to 1 year are on   The scheme seeks to provide returns that closely correspond to returns provided by SBI - ETF Gold (Previously known as SBI GETS).   Research Highlights for SBI Gold Fund   Below is the key information for SBI Gold Fund   Returns up to 1 year are on   The objective of the scheme would be to provide investors with opportunities for long-term growth in capital along with the liquidity of an open-ended scheme through an active management of investments in a diversified basket of equity stocks of domestic Public Sector Undertakings and in debt and money market instruments issued by PSUs AND others.   Research Highlights for SBI PSU Fund   Below is the key information for SBI PSU Fund   Returns up to 1 year are on   The investment objective of the Scheme will be to generate returns that correspond closely to the returns generated by IDBI Gold Exchange Traded Fund (IDBI GOLD ETF).   Research Highlights for IDBI Gold Fund   Below is the key information for IDBI Gold Fund   Returns up to 1 year are on   To generate returns that closely correspond to returns generated by Axis Gold ETF.   Research Highlights for Axis Gold Fund   Below is the key information for Axis Gold Fund   Returns up to 1 year are on 1. Franklin India Short Term Income Plan -  Retail Plan
Franklin India Short Term Income Plan -  Retail Plan 
 Growth Launch Date   31 Jan 02  NAV (02 May 25)   ₹15,041.3  ↑ 0.11   (0.00 %)  Net Assets (Cr)   ₹13 on 31 Mar 25  Category  Debt - Short term Bond AMC   Franklin Templeton Asst Mgmt(IND)Pvt Ltd  Rating  ☆☆ Risk  Moderate Expense Ratio  0 Sharpe Ratio  -90.89 Information Ratio  -2.42 Alpha Ratio  -6.74 Min Investment   5,000  Min SIP Investment   500  Exit Load   0-1 Years (0.5%),1 Years and above(NIL)  Yield to Maturity  0% Effective Maturity  Modified Duration   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹12,081 30 Sep 22 ₹13,040 30 Sep 23 ₹14,242 30 Sep 24 ₹14,242 
Purchase not allowed Returns for Franklin India Short Term Income Plan -  Retail Plan
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  192.1%  3 Month  192.1%  6 Month  192.1%  1 Year  192.1%  3 Year  47.3%  5 Year  32.5%  10 Year    15 Year    Since launch  12.4%   Historical performance (Yearly) on absolute basis 
Year Returns 2024    2023    2022    2021    2020    2019    2018    2017    2016    2015     Fund Manager information for Franklin India Short Term Income Plan -  Retail Plan 
Name Since Tenure Data below for Franklin India Short Term Income Plan -  Retail Plan as on 31 Mar 25 
 Asset Allocation 
Asset Class Value  Debt Sector Allocation 
Sector Value  Credit Quality 
Rating Value  Top Securities Holdings / Portfolio 
Name Holding Value Quantity 2. DSP World Gold Fund
DSP World Gold Fund 
 Growth Launch Date   14 Sep 07  NAV (27 Oct 25)   ₹40.7374  ↓ -1.80   (-4.24 %)  Net Assets (Cr)   ₹1,421 on 31 Aug 25  Category  Equity - Global AMC   DSP BlackRock Invmt Managers Pvt. Ltd.  Rating  ☆☆☆ Risk  High Expense Ratio  1.41 Sharpe Ratio  1.8 Information Ratio  -1.09 Alpha Ratio  3.15 Min Investment   1,000  Min SIP Investment   500  Exit Load   0-12 Months (1%),12 Months and above(NIL)   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹7,753 30 Sep 22 ₹6,406 30 Sep 23 ₹7,497 30 Sep 24 ₹10,968 30 Sep 25 ₹21,899  Returns for DSP World Gold Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  -5.8%  3 Month  29.6%  6 Month  43.8%  1 Year  72.6%  3 Year  43.5%  5 Year  15%  10 Year    15 Year    Since launch  8.1%   Historical performance (Yearly) on absolute basis 
Year Returns 2024  15.9%  2023  7%  2022  -7.7%  2021  -9%  2020  31.4%  2019  35.1%  2018  -10.7%  2017  -4%  2016  52.7%  2015  -18.5%   Fund Manager information for DSP World Gold Fund 
Name Since Tenure Jay Kothari 1 Mar 13 12.59 Yr. Data below for DSP World Gold Fund as on 31 Aug 25 
 Equity Sector Allocation 
Sector Value Basic Materials 95.54%  Asset Allocation 
Asset Class Value Cash 1.83% Equity 95.6% Debt 0.01% Other 2.56%  Top Securities Holdings / Portfolio 
Name Holding Value Quantity  BGF World Gold I2  
Investment Fund  | -76% ₹1,268 Cr 1,456,030 
 ↓ -89,620  VanEck Gold Miners ETF  
-  | GDX23% ₹389 Cr 573,719  Treps / Reverse Repo Investments  
CBLO/Reverse Repo  | -1% ₹18 Cr  Net Receivables/Payables  
Net Current Assets  | -0% ₹3 Cr 3. ICICI Prudential Regular Gold Savings Fund
ICICI Prudential Regular Gold Savings Fund 
 Growth Launch Date   11 Oct 11  NAV (28 Oct 25)   ₹36.1108  ↓ -1.15   (-3.10 %)  Net Assets (Cr)   ₹2,603 on 31 Aug 25  Category  Gold - Gold AMC   ICICI Prudential Asset Management Company Limited  Rating  ☆ Risk  Moderately High Expense Ratio  0.38 Sharpe Ratio  2.55 Information Ratio  0 Alpha Ratio  0 Min Investment   5,000  Min SIP Investment   100  Exit Load   0-15 Months (2%),15 Months and above(NIL)   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹9,035 30 Sep 22 ₹9,753 30 Sep 23 ₹11,088 30 Sep 24 ₹14,321 30 Sep 25 ₹21,617  Returns for ICICI Prudential Regular Gold Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  2.7%  3 Month  18%  6 Month  22.2%  1 Year  46.9%  3 Year  30.5%  5 Year  16.6%  10 Year    15 Year    Since launch  9.6%   Historical performance (Yearly) on absolute basis 
Year Returns 2024  19.5%  2023  13.5%  2022  12.7%  2021  -5.4%  2020  26.6%  2019  22.7%  2018  7.4%  2017  0.8%  2016  8.9%  2015  -5.1%   Fund Manager information for ICICI Prudential Regular Gold Savings Fund 
Name Since Tenure Manish Banthia 27 Sep 12 13.02 Yr. Nishit Patel 29 Dec 20 4.76 Yr. Data below for ICICI Prudential Regular Gold Savings Fund as on 31 Aug 25 
 Asset Allocation 
Asset Class Value Cash 1.47% Other 98.53%  Top Securities Holdings / Portfolio 
Name Holding Value Quantity  ICICI Pru Gold ETF  
-  | -100% ₹3,301 Cr 331,508,144 
 ↑ 37,135,052  Treps  
CBLO/Reverse Repo  | -1% ₹40 Cr  Net Current Assets  
Net Current Assets  | -1% -₹36 Cr 4. Franklin India Opportunities Fund
Franklin India Opportunities Fund 
 Growth Launch Date   21 Feb 00  NAV (27 Oct 25)   ₹263.665  ↑ 2.48   (0.95 %)  Net Assets (Cr)   ₹7,509 on 31 Aug 25  Category  Equity - Sectoral AMC   Franklin Templeton Asst Mgmt(IND)Pvt Ltd  Rating  ☆☆☆ Risk  Moderately High Expense Ratio  1.83 Sharpe Ratio  -0.43 Information Ratio  1.75 Alpha Ratio  2.4 Min Investment   5,000  Min SIP Investment   500  Exit Load   0-1 Years (1%),1 Years and above(NIL)   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹16,667 30 Sep 22 ₹16,312 30 Sep 23 ₹21,669 30 Sep 24 ₹35,745 30 Sep 25 ₹35,091  Returns for Franklin India Opportunities Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  3.9%  3 Month  4.7%  6 Month  12.1%  1 Year  9%  3 Year  30.4%  5 Year  27.7%  10 Year    15 Year    Since launch  13.6%   Historical performance (Yearly) on absolute basis 
Year Returns 2024  37.3%  2023  53.6%  2022  -1.9%  2021  29.7%  2020  27.3%  2019  5.4%  2018  -10.1%  2017  35.6%  2016  4.2%  2015  2.3%   Fund Manager information for Franklin India Opportunities Fund 
Name Since Tenure Kiran Sebastian 7 Feb 22 3.65 Yr. R. Janakiraman 1 Apr 13 12.51 Yr. Sandeep Manam 18 Oct 21 3.96 Yr. Data below for Franklin India Opportunities Fund as on 31 Aug 25 
 Equity Sector Allocation 
Sector Value Consumer Cyclical 20.07% Financial Services 18.85% Health Care 12.76% Technology 11.87% Basic Materials 9.66% Communication Services 5.71% Industrials 4.42% Energy 4.34% Utility 2.78% Consumer Defensive 1.74% Real Estate 0.5%  Asset Allocation 
Asset Class Value Cash 7.28% Equity 92.71%  Top Securities Holdings / Portfolio 
Name Holding Value Quantity  HDFC Bank Ltd (Financial Services) 
Equity, Since 31 May 24 | HDFCBANK5% ₹389 Cr 4,087,942  Reliance Industries Ltd (Energy) 
Equity, Since 30 Apr 22 | RELIANCE4% ₹337 Cr 2,472,229  Axis Bank Ltd (Financial Services) 
Equity, Since 30 Apr 25 | 5322154% ₹334 Cr 2,950,277  Eternal Ltd (Consumer Cyclical) 
Equity, Since 31 Aug 23 | 5433204% ₹311 Cr 9,548,090  Maruti Suzuki India Ltd (Consumer Cyclical) 
Equity, Since 30 Apr 25 | MARUTI4% ₹272 Cr 169,582  Mahindra & Mahindra Ltd (Consumer Cyclical) 
Equity, Since 31 May 24 | M&M3% ₹219 Cr 637,966  Bharti Airtel Ltd (Communication Services) 
Equity, Since 31 Jan 24 | BHARTIARTL3% ₹218 Cr 1,158,502  Mphasis Ltd (Technology) 
Equity, Since 30 Nov 24 | 5262993% ₹216 Cr 814,231  NTPC Ltd (Utilities) 
Equity, Since 31 Aug 22 | 5325553% ₹216 Cr 6,333,312  Lemon Tree Hotels Ltd (Consumer Cyclical) 
Equity, Since 31 Aug 24 | LEMONTREE3% ₹213 Cr 12,833,401 5. Nippon India Gold Savings Fund
Nippon India Gold Savings Fund 
 Growth Launch Date   7 Mar 11  NAV (28 Oct 25)   ₹44.6633  ↓ -1.52   (-3.29 %)  Net Assets (Cr)   ₹3,439 on 31 Aug 25  Category  Gold - Gold AMC   Nippon Life Asset Management Ltd.  Rating  ☆☆ Risk  Moderately High Expense Ratio  0.35 Sharpe Ratio  2.52 Information Ratio  0 Alpha Ratio  0 Min Investment   5,000  Min SIP Investment   100  Exit Load   0-1 Years (2%),1 Years and above(NIL)   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹8,958 30 Sep 22 ₹9,692 30 Sep 23 ₹11,032 30 Sep 24 ₹14,174 30 Sep 25 ₹21,300  Returns for Nippon India Gold Savings Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  2.7%  3 Month  17.9%  6 Month  22.3%  1 Year  46.7%  3 Year  30.3%  5 Year  16.3%  10 Year    15 Year    Since launch  10.8%   Historical performance (Yearly) on absolute basis 
Year Returns 2024  19%  2023  14.3%  2022  12.3%  2021  -5.5%  2020  26.6%  2019  22.5%  2018  6%  2017  1.7%  2016  11.6%  2015  -8.1%   Fund Manager information for Nippon India Gold Savings Fund 
Name Since Tenure Himanshu Mange 23 Dec 23 1.77 Yr. Data below for Nippon India Gold Savings Fund as on 31 Aug 25 
 Asset Allocation 
Asset Class Value Cash 1.14% Other 98.86%  Top Securities Holdings / Portfolio 
Name Holding Value Quantity  Nippon India ETF Gold BeES  
-  | -100% ₹4,139 Cr 431,810,511 
 ↑ 28,940,000  Net Current Assets  
Net Current Assets  | -1% -₹29 Cr  Triparty Repo  
CBLO/Reverse Repo  | -1% ₹21 Cr  Cash Margin - Ccil  
CBLO  | -0% ₹0 Cr  Cash  
Net Current Assets  | -0% ₹0 Cr 00 6. HDFC Gold Fund
HDFC Gold Fund 
 Growth Launch Date   24 Oct 11  NAV (28 Oct 25)   ₹34.7846  ↓ -1.22   (-3.39 %)  Net Assets (Cr)   ₹4,915 on 31 Aug 25  Category  Gold - Gold AMC   HDFC Asset Management Company Limited  Rating  ☆ Risk  Moderately High Expense Ratio  0.49 Sharpe Ratio  2.55 Information Ratio  0 Alpha Ratio  0 Min Investment   5,000  Min SIP Investment   300  Exit Load   0-6 Months (2%),6-12 Months (1%),12 Months and above(NIL)   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹8,979 30 Sep 22 ₹9,716 30 Sep 23 ₹11,065 30 Sep 24 ₹14,244 30 Sep 25 ₹21,453  Returns for HDFC Gold Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  2.5%  3 Month  17.8%  6 Month  21.8%  1 Year  46.6%  3 Year  30.3%  5 Year  16.3%  10 Year    15 Year    Since launch  9.3%   Historical performance (Yearly) on absolute basis 
Year Returns 2024  18.9%  2023  14.1%  2022  12.7%  2021  -5.5%  2020  27.5%  2019  21.7%  2018  6.6%  2017  2.8%  2016  10.1%  2015  -7.3%   Fund Manager information for HDFC Gold Fund 
Name Since Tenure Arun Agarwal 15 Feb 23 2.63 Yr. Nandita Menezes 29 Mar 25 0.51 Yr. Data below for HDFC Gold Fund as on 31 Aug 25 
 Asset Allocation 
Asset Class Value Cash 1.13% Other 98.87%  Top Securities Holdings / Portfolio 
Name Holding Value Quantity  HDFC Gold ETF  
-  | -100% ₹6,356 Cr  Net Current Assets  
Net Current Assets  | -1% -₹49 Cr  Treps - Tri-Party Repo  
CBLO/Reverse Repo  | -0% ₹22 Cr 7. SBI Gold Fund
SBI Gold Fund 
 Growth Launch Date   12 Sep 11  NAV (28 Oct 25)   ₹34.0323  ↓ -1.20   (-3.41 %)  Net Assets (Cr)   ₹5,221 on 31 Aug 25  Category  Gold - Gold AMC   SBI Funds Management Private Limited  Rating  ☆☆ Risk  Moderately High Expense Ratio  0.3 Sharpe Ratio  2.58 Information Ratio  0 Alpha Ratio  0 Min Investment   5,000  Min SIP Investment   500  Exit Load   0-1 Years (1%),1 Years and above(NIL)   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹9,030 30 Sep 22 ₹9,763 30 Sep 23 ₹11,132 30 Sep 24 ₹14,369 30 Sep 25 ₹21,663  Returns for SBI Gold Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  2.5%  3 Month  17.8%  6 Month  21.7%  1 Year  46.5%  3 Year  30.3%  5 Year  16.5%  10 Year    15 Year    Since launch  9.1%   Historical performance (Yearly) on absolute basis 
Year Returns 2024  19.6%  2023  14.1%  2022  12.6%  2021  -5.7%  2020  27.4%  2019  22.8%  2018  6.4%  2017  3.5%  2016  10%  2015  -8.1%   Fund Manager information for SBI Gold Fund 
Name Since Tenure Raviprakash Sharma 12 Sep 11 14.06 Yr. Data below for SBI Gold Fund as on 31 Aug 25 
 Asset Allocation 
Asset Class Value Cash 0.27% Other 99.73%  Top Securities Holdings / Portfolio 
Name Holding Value Quantity  SBI Gold ETF  
-  | -101% ₹7,118 Cr 717,924,671 
 ↑ 124,207,431  Net Receivable / Payable  
CBLO  | -4% -₹255 Cr  Treps  
CBLO/Reverse Repo  | -2% ₹171 Cr 8. SBI PSU Fund
SBI PSU Fund 
 Growth Launch Date   7 Jul 10  NAV (28 Oct 25)   ₹33.2632  ↓ -0.05   (-0.16 %)  Net Assets (Cr)   ₹5,179 on 31 Aug 25  Category  Equity - Sectoral AMC   SBI Funds Management Private Limited  Rating  ☆☆ Risk  High Expense Ratio  1.89 Sharpe Ratio  -0.81 Information Ratio  -0.37 Alpha Ratio  -0.35 Min Investment   5,000  Min SIP Investment   500  Exit Load   0-1 Years (1%),1 Years and above(NIL)   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹16,196 30 Sep 22 ₹17,561 30 Sep 23 ₹25,841 30 Sep 24 ₹42,766 30 Sep 25 ₹40,703  Returns for SBI PSU Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  5.1%  3 Month  5.8%  6 Month  7%  1 Year  6.2%  3 Year  30.1%  5 Year  33.3%  10 Year    15 Year    Since launch  8.2%   Historical performance (Yearly) on absolute basis 
Year Returns 2024  23.5%  2023  54%  2022  29%  2021  32.4%  2020  -10%  2019  6%  2018  -23.8%  2017  21.9%  2016  16.2%  2015  -11.1%   Fund Manager information for SBI PSU Fund 
Name Since Tenure Rohit Shimpi 1 Jun 24 1.33 Yr. Data below for SBI PSU Fund as on 31 Aug 25 
 Equity Sector Allocation 
Sector Value Financial Services 36.21% Utility 29.89% Energy 13.58% Industrials 12.34% Basic Materials 5.79%  Asset Allocation 
Asset Class Value Cash 2.18% Equity 97.82%  Top Securities Holdings / Portfolio 
Name Holding Value Quantity  State Bank of India (Financial Services) 
Equity, Since 31 Jul 10 | SBIN16% ₹866 Cr 9,927,500  Bharat Electronics Ltd (Industrials) 
Equity, Since 30 Jun 24 | BEL9% ₹524 Cr 12,975,000  NTPC Ltd (Utilities) 
Equity, Since 31 Jul 10 | 5325559% ₹495 Cr 14,543,244  Power Grid Corp Of India Ltd (Utilities) 
Equity, Since 31 Jul 10 | 5328988% ₹463 Cr 16,535,554  GAIL (India) Ltd (Utilities) 
Equity, Since 31 May 24 | 5321558% ₹454 Cr 25,750,000  Bharat Petroleum Corp Ltd (Energy) 
Equity, Since 31 Aug 24 | 5005476% ₹329 Cr 9,700,000  Bank of Baroda (Financial Services) 
Equity, Since 31 Aug 24 | 5321345% ₹284 Cr 11,000,000  NMDC Ltd (Basic Materials) 
Equity, Since 31 Oct 23 | 5263714% ₹213 Cr 27,900,000  Indian Bank (Financial Services) 
Equity, Since 30 Jun 21 | 5328143% ₹182 Cr 2,427,235  Oil India Ltd (Energy) 
Equity, Since 31 Mar 24 | OIL3% ₹159 Cr 3,850,000 9. IDBI Gold Fund
IDBI Gold Fund 
 Growth Launch Date   14 Aug 12  NAV (28 Oct 25)   ₹29.8578  ↓ -1.31   (-4.19 %)  Net Assets (Cr)   ₹254 on 31 Aug 25  Category  Gold - Gold AMC   IDBI Asset Management Limited  Rating  Risk  Moderately High Expense Ratio  0.64 Sharpe Ratio  2.38 Information Ratio  0 Alpha Ratio  0 Min Investment   5,000  Min SIP Investment   500  Exit Load   0-12 Months (1%),12 Months and above(NIL)   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹9,217 30 Sep 22 ₹10,058 30 Sep 23 ₹11,430 30 Sep 24 ₹14,833 30 Sep 25 ₹22,097  Returns for IDBI Gold Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  1.7%  3 Month  16.1%  6 Month  19.7%  1 Year  44.1%  3 Year  29.9%  5 Year  16.6%  10 Year    15 Year    Since launch  8.6%   Historical performance (Yearly) on absolute basis 
Year Returns 2024  18.7%  2023  14.8%  2022  12%  2021  -4%  2020  24.2%  2019  21.6%  2018  5.8%  2017  1.4%  2016  8.3%  2015  -8.7%   Fund Manager information for IDBI Gold Fund 
Name Since Tenure Sumit Bhatnagar 1 Jun 24 1.33 Yr. Data below for IDBI Gold Fund as on 31 Aug 25 
 Asset Allocation 
Asset Class Value Cash 2.75% Other 97.25%  Top Securities Holdings / Portfolio 
Name Holding Value Quantity  LIC MF Gold ETF  
-  | -99% ₹369 Cr 353,644 
 ↑ 83,600  Treps  
CBLO/Reverse Repo  | -2% ₹7 Cr  Net Receivables / (Payables)  
CBLO  | -1% -₹4 Cr 10. Axis Gold Fund
Axis Gold Fund 
 Growth Launch Date   20 Oct 11  NAV (28 Oct 25)   ₹33.6834  ↓ -1.30   (-3.73 %)  Net Assets (Cr)   ₹1,272 on 31 Aug 25  Category  Gold - Gold AMC   Axis Asset Management Company Limited  Rating  ☆ Risk  Moderately High Expense Ratio  0.5 Sharpe Ratio  2.57 Information Ratio  0 Alpha Ratio  0 Min Investment   5,000  Min SIP Investment   1,000  Exit Load   0-1 Years (1%),1 Years and above(NIL)   Growth of 10,000 investment over the years. 
Date Value 30 Sep 20 ₹10,000 30 Sep 21 ₹9,072 30 Sep 22 ₹9,818 30 Sep 23 ₹11,221 30 Sep 24 ₹14,428 30 Sep 25 ₹21,617  Returns for Axis Gold Fund
absolute basis & more than 1 year are on CAGR (Compound Annual Growth Rate) basis. as on 2 May 25 Duration Returns 1 Month  2%  3 Month  17.1%  6 Month  21.1%  1 Year  45.2%  3 Year  29.9%  5 Year  16.1%  10 Year    15 Year    Since launch  9%   Historical performance (Yearly) on absolute basis 
Year Returns 2024  19.2%  2023  14.7%  2022  12.5%  2021  -4.7%  2020  26.9%  2019  23.1%  2018  8.3%  2017  0.7%  2016  10.7%  2015  -11.9%   Fund Manager information for Axis Gold Fund 
Name Since Tenure Aditya Pagaria 9 Nov 21 3.9 Yr. Pratik Tibrewal 1 Feb 25 0.66 Yr. Data below for Axis Gold Fund as on 31 Aug 25 
 Asset Allocation 
Asset Class Value Cash 1.23% Other 98.77%  Top Securities Holdings / Portfolio 
Name Holding Value Quantity  Axis Gold ETF  
-  | -100% ₹1,562 Cr 161,319,805 
 ↑ 14,191,095  Net Receivables / (Payables)  
CBLO  | -1% -₹11 Cr  Clearing Corporation Of India Ltd  
CBLO/Reverse Repo  | -0% ₹5 Cr 
Double taxation means where an NRI is subjected to double taxation- once in India and also again in the country where they are residing. For a Non-resident Indian based in UK, can be spared by paying double Taxes. India has a Double Tax Avoidance Agreement (DTAA) with the UK.
For suppose, NRIs based in the UK makes STCGs (Short Term Capital Gains) from equity investments in India, they pay 15 percent tax in India. But, if the rate for such gains is 25 percent in the UK, investors will have to pay the tax only for the difference in rate in UK.
This means that the investors get a Deduction on the tax paid in India from their tax payable in the UK.
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