Publish Date:
DSP Mutual Fund has introduced a new scheme – DSP Silver ETF
It is an open-ended exchange-traded fund replicating/tracking domestic prices of silver.
Accordingly, the scheme seeks to generate returns that are in line with the performance of physical silver in domestic prices, subject to tracking error. There is no assurance that the investment objective of the Scheme will be realized.
Under normal circumstances, DSP Silver ETF will hold an allocation of 95% to 100% of its assets in Silver and Silver Related Instruments, 0% to 5% in Cash and Cash Equivalents.
As per the Scheme Information Document, the Scheme will track its Underlying Index and will use a “passive” approach to endeavour to achieve scheme’s investment objective. The AMC does not make any judgments about the investment merit of underlying assets nor will it attempt to apply any economic, financial or market analysis. Since the scheme is an exchange traded fund, the scheme will only invest in silver & silver related securities constituting the underlying index.
DSP Silver ETF’s performance will be benchmarked against Domestic Price of Physical Silver (based on London Bullion Market association (LBMA) Silver daily spot fixing price.)
The scheme will be managed by Mr. Ravi Gehani.
The NFO opens for subscription on August 01, 2022 and closes on August 12, 2022. The scheme will reopen for continuous sale and repurchase Within five Business Days from the date of allotment.
The fund’s NAV is priced at Rs 10/- per unit during the NFO period. The minimum subscription amount is Rs 5,000 and in multiples of Re.1 thereafter.
Currently, there are no plan/options available under the Scheme.