A new gold fund has been launched by Kotak Mutual Fund, inviting investors to subscribe to this open-ended fund of funds (FoF) scheme, which is passively managed and investments will be mainly towards the Kotak Gold Exchange Traded Fund. Some of the features of the fund include – zero entry load and zero exit load if exit is after one year from allotments of units. There is a 2 percent load if the exit is on or before one year from the date of allotment of units, and 1 percent if there is a switch between six months and one year of allotment. %% An investor is not required to hold a demat account for investing in the fund. The fund has a minimum application amount of Rs.5,000 and allows a SIP for Rs. 1,000 per month.