DSP ML plans to launch gold fund

DSP Merrill Lynch Mutual Fund will launch an open-ended gold-linked fund next month to raise about $100 million (over Rs 400 crore) to invest in the group''s world gold fund programme. We have already got approval from market regulator SEBI for the gold fund that will invest in Merrill Lynch''s World Gold Fund, DSP Merrill Lynch Mutual Fund senior vice president S N Lahiri said. The World Gold Fund, launched in 1994 by the United States-based Merrill Lynch, invests predominantly in global conglomerates engaged in mining of gold and other precious metals.