As per reports, DSP Merrill Lynch Mutual Fund, the Indian arm of the US-based financial services giant, will launch a $100 million (Rs.406 crore) gold-linked fund in June 2007 as it received the necessary regulatory approval from the Securities and Exchange Board of India (SEBI).%%The proposed open-ended gold fund would invest in the Merrill Lynch’s World Gold Fund, said DSP Merrill Lynch Mutual Fund senior vice president, S.N. Lahiri.%% Lynch’s World Gold Fund was launched in 1994, and had net assets of $5.81 billion as of April 2007. The fund primarily invests in international gold mining companies (82 per cent) and, to a lesser extent, in platinum (10.8 per cent), silver (3.2 per cent) and diamond (1.6 per cent) companies.%%On April 24, the Reserve Bank of India, the country’s central bank, raised the ceiling on overseas investments by mutual funds to $4 billion (from $3 billion) as the country’s foreign-exchange reserves crossed the $200 billion-mark for the first time, earlier in the same month.