Mirae Asset Gold ETF · NSE:GOLDETF
Mirae Asset Gold ETF — Investor Presentation (March 2025)
30 slides from Mirae Asset Gold ETF's investor presentation, March 2025
Slide 1: Mirae Asset Gold ETF and Gold ETF Fund of Fund
March 2025 Mirae Asset Gold ETF (NSE Symbol: GOLDETF , BSE Scrip Code: 543781) (An open ended scheme replicating/tracking Domestic Price of Gold) Mirae Asset Gold ETF Fund of Fund (An open-ended Fund of Fund scheme investing in Mirae Asset Gold ETF)
Slide 2: What is driving gold prices now?
What is driving gold prices now ? Interest Rate Geopolitical US Dollar Central Banks Easing by FED Escalations Topping Out Buying Factors Driving Gold Price Domestic Growing Chinese Increasing Net long AUM growth of Demand Demand position Global Gold ETFs 1 Data as on 31st March 2025 Source: Mirae I
Slide 3: US interest rate play – Gold reacts positively to rate cuts
US interest rate play – Gold typically reacts positively at the time of rate cuts Gold Performs whenever there is a rate cuts and Vice versa 3500 1.5 3000 1 5.25% rate hike (0.25% to 5.5%) 2500 0.5 5% rate cut (5.25% to 0.25%) 2% rate hike (0.5% to 2.5%) 2000 0 1500 -0.5 1% rate Cut (5.5% to 4.5%) 1
Slide 4: US interest rate projection
US interest rate projection FOMC Participant’s Policy Path Chart “The Dot Plot” 7.0% 6.5% 6.0% 5.5% 5.0% 4.5% Interest Rate 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0% 2024 2025 2026 2027 Longer Run Dots: The dots represent each FED member’s interest rate projection for a given year. FED members ar
Slide 5: Geopolitical risk may boost gold prices
Geopolitical risk may boost gold prices GPR Index GPR Index 600 9/11 500 Russia - Ukraine Israel 400 Iraq 300 200 Middle-east Escalation 100 0 Geopolitical Risk Index has started rising again due to ongoing tensions in Middle East which may continue to uplift the gold price, which is considered as a
Slide 6: US Dollar Topping out? Gold performs when dollar weakens
US Dollar Topping out ? Gold performs when US Dollar weakens LBMA Gold DXY Index 3,200.00 120.00 Dollar Topping Out 3,000.00 115.00 2,800.00 110.00 2,600.00 LBMA GOLD (US$) DOLLAR INDEX 2,400.00 105.00 2,200.00 100.00 2,000.00 95.00 1,800.00 90.00 1,600.00 1,400.00 85.00 Gold typically rallies post
Slide 7: Central Banks buying: a key driver for gold price
Central Banks buying: A key driver for current momentum in gold price Total Central bank gold purchase (In Tonnes) Total Gold Reserves of Top 15 Countries (In Tonnes) 1,200 1,082 Uzbekistan 382 1,037 1,045 Portugal 383 1,000 Taiwan 424 Poland 448 Gold Purchases (In Tonnes) 800 Netherlands 612 656 Tu
Slide 8: Top countries who added gold to reserves since 2019
Top 5 Countries who added gold to their reserves since 2019 Change in Gold Reserves in last 5 years 600 500 75 40 400 Country 2019 2020 2021 2022 2023 2024 Total 148 300 10 230 90 China 100 0 0 60 230 40 430 In Tonnes 73 132 0 200 16 0 30 130 33 Turkey 159 132 -150 148 -2 75 362 30 60 0 77 100 0 2 1
Slide 9: Chinese central bank action: a key driver for rise in gold prices
Chinese central bank action : A key driver for rise in gold prices PBOC Gold Reserves (In Tonnes) China Holdings of US Treasury Securities ($ Bn) 2400 2,800 1100 2300 2,600 1033.8 1050 2200 2,400 1000 Gold Holdings (In Tonnes) 2100 2,200 950 Gold Price ($) 2000 2,000 900 1900 1,800 1800 1,600 850 78
Slide 10: Diverse usage of gold may provide multiple avenues of price growth
Diverse usage of gold may provide multiple avenues of price growth Gold consumption (In Tonnes) 5,000 4,500 4,000 3,500 3,000 Tonnes 2,500 2,000 1,500 1,000 500 - 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Jewellery Fabrication Technology Investment Central Banks Almo
Slide 11: Union budget 2024-25: Push for gold
Union budget 2024-25: Push for gold Custom Duty 16% 15% 14% Custom Duty Cut 12.88% Custom duty cut from 15% to 6%. 12% 10.75% 10% 10% 8% 8% 6% 6% Taxation and Holding period 6% 4% 24 Months: Holding Period for long term capital gain tax 4% 12.5% without indexation - LTCG 2% 2% 0% 16 Jan 16 Mar 21 Ja
Slide 12: India and China are top two markets for jewellery consumption
India and China are top two markets for jewellery consumption Top five countries’ annual gold jewellery demand (Tonnes) 35 UAE 40 41 Turkey 42 132 United States 136 563 India 562 511 China 630 0.0 100.0 200.0 300.0 400.0 500.0 600.0 700.0 2024 2023 Recovery in China may further uplift Gold prices in
Slide 13: Bullish on Gold: Increased net long position in COMEX
Bullish on Gold: Increased net long position in Gold Futures Market (COMEX) 1201 3500 3300 1001 3100 2900 801 LBMA Gold ($ per oz) 2700 Tonnes 601 2500 2300 401 2100 1900 201 1700 1 1500 Apr-2024 May-2024 Jun-2024 Jul-2024 Aug-2024 Sep-2024 Oct-2024 Nov-2024 Dec-2024 Jan-2025 Feb-2025 Mar-2025 Money
Slide 14: Interest seen building in global Gold ETFs
Interest Seen building in global Gold ETFs across all regions Global Gold ETF Flows (Region wise in Tonnes) 120.00 100.00 80.00 60.00 40.00 Tonnes 20.00 0.00 -20.00 -40.00 -60.00 -80.00 Dec-23 Jan-24 Feb-24 Mar-24 Apr-24 May-24 Jun-24 Jul-24 Aug-24 Sep-24 Oct-24 Nov-24 Dec-24 Jan-25 Feb-25 Mar-25 No
Slide 15: Gold as an Asset class
Gold as an Asset class J MIRAE ASSET Mutual Fund
Slide 16: Evolution of gold
Evolution of gold 433B.C 18thCentury King Ferdinand of Spain 3600B.C went on acquisition Ancient Chinese begin spree for Gold Assets circulating the Ying Yuan: around the World A square Gold Coin Alexander the Great Discovery of Gold caused popula- sacks the Persian Empire tion of San Francisco to s
Slide 17: Demand Drivers of gold
Demand Drivers of gold Economic Expansion Periods of growth are very supportive of jewellery, Economic Expansion technology and long term savings Strategic RiskandUncertainty Market downturns often boost investment demand for Riskand Uncertainty gold as a safe haven asset Opportunity Cost Price of c
Slide 18: Gold has exhibited negative correlation with equity markets
Gold has exhibited negative correlation with equity markets Correlation between Nifty 50 Index and Gold 80000 Tensions in 45000 Middle East Historical Correlationof Gold v/s Nifty 50 70000 - 0.09 40000 Russia Ukraine War 35000 60000 30000 50000 25000 40000 2018 Brexit Pullback 20000 30000 Sovereign
Slide 19: Gold may potentially act as a hedge against inflation
Gold may potentially act as a hedge against inflation Gold v/s US CPI 10 3,500.00 3,120.20 8 3,000.00 6 2,500.00 4 2,000.00 2 1,500.00 2.4 0 1,000.00 -2 500.00 -4 - Mar-05 Mar-07 Mar-09 Mar-11 Mar-13 Mar-15 Mar-17 Mar-19 Mar-21 Mar-23 Mar-25 US CPI Gold Gold retains its purchasing power when cost of
Slide 20: Gold performance during financial distress
Gold performance during financial distress ! Calendar Years Gold (USD) Dollar Index S&P 500 Index Event 1978 35.6% -10.3% 1.1% 1979 Oil Energy Crisis 1979 133.4% -0.8% 12.3% 1986 19.5% -16.1% 14.6% Japanese asset price bubble & Black Monday of 1987 1987 24.5% -17.6% 2.0% 1993 17.4% 4.9% 7.1% Black W
Slide 21: Avenues of Investment in gold
Avenues of Investment in gold Parameters ETF/ Fund of Fund Jeweller Banks Sovereign Gold Bond Scheme Physical DEMAT/ MF Units Jewellery/ Bar/ Coins Bar/ Coins certificate or in Mode Demat Gold bond prices are linked to Purity of Gold 99.5% or higher Can't say High on Purity price of gold of 999 puri
Slide 22: Performance of Gold
Performance of Gold J MIRAE ASSET Mutual Fund
Slide 23: Performance of gold v/s other asset classes
Performance of gold v/s other asset classes Returns comparison amongst different Asset class (%) MCX Gold Nifty 50 Nifty 10 Yr. Period Commodity Index G-Sec Index (INR) (Equity) (Debt) 15 Years 12.0% 11.9% 6.6% 10 Years 13.0% 12.1% 6.6% 7 Years 16.4% 14.2% 6.6% 5 Years 16.7% 23.7% 5.2% 3 Years 20.0%
Slide 24: Calendar Year Performance: Gold v/s Equity v/s Debt
Calendar Year Performance: Gold v/s Equity v/s Debt MCX Gold Nifty 50 Index Nifty 10 Yr. G-Sec Index Calendar Year Commodity (INR) (Equity) (Debt) 2024 20.6% 10.1% 9.5% 2023 15.4% 21.3% 8.1% 2022 13.9% 5.7% 0.4% 2021 -4.2% 25.6% 1.3% 2020 28.0% 16.1% 8.7% 2019 23.8% 13.5% 9.4% 2018 7.9% 4.6% 6.1% 20
Slide 25: Volatility Comparison of Equity v/s Gold during downturns
Volatility Comparison of Equity v/s Gold during downturns Volatility(in %) 50.0% 44.6% 45.0% 40.0% 35.1% 35.0% 32.5% 29.4% 30.0% 25.0% 21.7% 19.1% 20.1% 19.2% 20.0% 18.3% 17.8% 17.6% 16.7% 16.3% 16.0% 15.4% 15.2% 14.1% 13.5% 14.0% 15.0% 12.7% 12.5% 13.0% 12.1% 13.1% 12.6% 11.8% 12.2% 11.8% 11.0% 10.
Slide 26: Outlook
Outlook Trade war due to Inflows in global Higher demand by Weakness in US Geopolitical US tariffs may Gold ETFs, China global central banks Dollar would likely Tensions could impact global adding gold to (esp. China) may to move gold prices continue to economies which their reserves, continue to su
Slide 27: Why Mirae Asset Gold ETF Fund of Fund?
Why Mirae Asset Gold ETF Fund of Fund ? • Provides ease of transacting in gold through mutual fund route. • There is no uncertainty on purity of the Gold as it is regulated and LBMA certified (Purity of 99.5% and above). • The risk of theft and lower quality is eliminated as units of Gold as MF Unit
Slide 28: Scheme Details
Scheme Details Particulars Mirae Asset Gold ETF (NSE Symbol: GOLDETF , BSE Scrip Code: 543781) Type of Scheme An open ended scheme replicating/tracking Domestic Price of Gold Benchmark Domestic Price of Physical Gold Allotment Date 20th February, 2023 Fund Manager Mr. Ritesh Patel & Mr. Akshay Udesh
Slide 29: Disclaimer & Riskometers
Disclaimer & Riskometers Disclaimer: Every person who desires to apply for or otherwise acquire any Units of the Mutual Fund may do so pursuant to independent inquiry, investigation and analysis and shall not have any claim against the Exchange whatsoever by reason of any loss which may be suffered
Slide 30: Thank You
THANK YOU Follow us on: Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
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