ICICI Prudential launches first silver ETF fund of fund

ICICI Prudential Mutual Fund has launched ICICI Prudential Silver ETF, the first latent plan in Quite a while that will be investing into physical silver. The goal is to create returns that are in line with the performance of actual silver in domestic prices, liable to following mistake. The NFO opens on January 05, 2022, and closes on January 19, 2022.

ICICI Prudential Silver ETF is an open-ended scheme replicating or following Domestic Price of Silver. The venture returns will intently follow homegrown costs of Silver, subject to tracking error. The investment objective of the Scheme to produce returns that are in line with the performance of actual silver in domestic costs as gotten from the LBMA AM fixing costs.

The scheme will put its returns in Physical Silver and silver related instruments. Dissimilar to holding Physical Silver, an investor can profit from investing into Silver ETFs as it gives greater liquidity and less storage costs.

Minimum application sum during NFO is ₹100 (in addition to in different of Re. 1) while during progressing offer period, on stock trades, the financial backers can purchase/sell units of the plan in round parcel of 1 unit and in multiples there of directly with the common asset Authorized Participant(s)/Investor(s) can purchase/sell units of the plan in Creation Unit Size viz. 30,000 units and in multiples thereof.