SBI Mutual Fund launches SBI Silver ETF FoF
SBI Mutual Fund has announced the launch of SBI Silver ETF Fund of Fund, an open-ended fund of fund scheme investing in SBI Silver ETF.
The new fund offer of the scheme will open for subscription on June 27 and it will close on July 5.
The investment objective of the fund is to provide returns that closely correspond to returns provided by SBI Silver ETF.
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“In today’s global economic scenario, there is an increased demand of metals which act as an inflation hedge. Unlike its better-known counterpart Gold, Silver finds a lot of use in industrial applications and this flexibility helps increase its value in the long term. Hence, investors looking to diversify into commodities can choose to invest through the Silver ETF or Fund of Fund offering and have the opportunity to be a part of its long-term growth prospects,” said Shamsher Singh, MD & CEO, SBI Mutual Fund
«Silver is not only a precious metal, it is an industrial metal, and its demand will be linked to the potential rise in sectors like electronics and renewable energy. This improves the long-term growth potential of Silver and can benefit investors who invest into commodities but currently don’t look beyond Gold. Investing through an ETF and Fund of Fund, gives investors a low-cost investment option and the advantage of liquidity,” said D P Singh, Deputy MD & Joint CEO, SBI Mutual Fund.
The scheme will invest a minimum of 95% and a maximum of 100% of its
