I) The Fund creates / redeems units of the Scheme in 'Creation Unit Size' which is exchanged for portfolio Deposit which would consist of physical Gold of defined purity and quantity and Cash component. The fund declares the Portfolio Deposit or Cash Component on the website / www.QuantumMF.com and the same would be applicable for creating and redeeming unit size for that Business Day.
(A) Applicable NAV for Purchases in Creation in Unit Size:
(i) In respect of valid application received from Authorised Participant / Large Investor along with the Portfolio Deposit and / or Cash Component, up to 3.00 p.m. on a Business Day at the official point of acceptance, NAV of the day on which the application is received shall be applicable.
(ii) In respect of valid application received for purchase in Creation Unit Size, from Authorised Participant / Large Investor along with the Portfolio Deposit and / or Cash Component after 3.00 p.m., on a Business Day at the official point of acceptance, the closing of NAV of the next Business Day on which the application is received shall be applicable.
(B) Applicable NAV for Redemptions in Creation Unit Size:
(iii) In respect of valid application received up to 3.00 p.m. on a Business Day at the official point of acceptance, NAV of the day on which the application is received shall be applicable.
(iv) In respect of valid application received after 3.00 p.m. on a Business Day at the official point of acceptance, the closing NAV of the next Business Day on which the application is received shall be applicable.
(II) On the Exchange:
As the Units of the Scheme are listed on NSE, an investor can buy / Sell units on continuous basis on the capital market segment of NSE during trading hours like any other publicly traded stock at prices which may be close to the actual NAV of the Scheme.