Artha Bharat's Gold Fund Hits Snag as Trading Partner Eludes It

Artha Bharat has launched what it calls the first physically backed gold fund in GIFT City, but its ability to trade is still pending. The company says it needs a trading member and broker for IIBX operations.

The fund holds physical gold bullion via vault depository receipts, not derivatives or futures. It has received in-principle approval but is waiting on one or two final conditions before getting its license.

Sachin Sawrikar, the founder and Group CEO, said it took six months to register with a custodian due to infrastructure issues. The existing ecosystem is geared towards jewellers rather than investment funds.