Publish Date:
HDFC Mutual Fund has Introduced a new scheme – HDFC Silver ETF Fund of Fund
It is an open-ended Fund of Fund scheme investing in HDFC Silver ETF (ETF).
Accordingly, the investment objective of the scheme is to seek capital appreciation by investing in units of HDFC Silver ETF (HSETF). There is no assurance that the investment objective of the Scheme will be realized.
Under normal circumstances, HDFC Silver ETF Fund of Fund will hold an allocation of 95% to 100% of its assets in Units of HDFC Silver ETF and 0% to 5% in Debt Securities & Money Market Instruments.
As per the Scheme Information Document, HDFC Silver ETF Fund of Fund shall buy/sell HSETF units either directly with the Fund or through the secondary market on the Stock Exchange(s). Investment in Debt securities and money market instruments will be as per the limits in the asset allocation table of the Scheme, subject to permissible limits laid under SEBI (MF) Regulations.
Investment in debt securities will be guided by credit quality liquidity, interest rates and their outlook. The Scheme may also invest in the schemes of Mutual Funds in terms of the prevailing SEBI (MF) Regulations.
HDFC Silver ETF Fund of Fund’s performance will be benchmarked against Domestic Prices of physical Silver (based on LBMA Silver daily spot fixing price)
The scheme will be managed by Mr Krishan Kumar Daga.
The NFO opens for subscription on October 07, 2022 and closes on October 21, 2022. The scheme will reopen for continuous sale and repurchase within 5 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 100/- and in multiples of any amount thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.