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Flexible Plan Investment Claims Market's First Gold Bullion Mutual Fund

Jul 15, 2013
Joey Peters

Bloomfield Hills, Michigan-based Flexible Plan Investments announced today the launch of golf bullion mutual fund - a first for the marketplace according to a statement. The mutual fund seeks to generate returns reflecting daily changes in the price of gold bullion. This is the first time this type of gold bullion fund has been offered to retail investors through a mutual fund product, officials said.

Previously, gold bullion index strategies were only available through exchange-traded funds (ETFs). However, many ETFs that invest in commodity futures contracts are subject to Schedule K-1 tax reporting rules. In addition to adding delays on returns, the reporting rules require multiple state reporting and deal with unrelated business taxable income.

According to Plan Investment, the Gold Bullion Strategy Fund will distribute the conventional Form 1099, familiar to most mutual fund investors, rather than multiple Schedule K-1 tax forms and does not generate unrelated business taxable income.

Established in 1981, Flexible Plan Investments, Ltd. invests over $1.5 billion in assets for clients in its separately managed account business as of March 31 of this year.

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