Publish Date:
SBI Mutual Fund has launched SBI Silver ETF & SBI Silver ETF Fund of Fund
SBI Silver ETF is an open-ended Exchange Traded Fund tracking price of silver.
The investment objective of the scheme is to generate returns that are in line with the performance of physical silver in domestic prices, subject to tracking error. However, there is no guarantee or assurance that the investment objective of the scheme would be achieved.
Under normal circumstances, SBI Silver ETF will hold an allocation of 95% to 100% in Silver and / or silver related instruments and 0% to 5% in Government. Securities* including Triparty Repo, and units of liquid mutual fund
[Read: How Many Mutual Funds Should I Invest In? Avoid Over-Diversifying Your Portfolio]
SBI Silver ETF will invest in silver and/or silver related instruments and will endeavour to track performance of physical silver in domestic prices. The scheme will use a “passive” or indexing approach to achieve scheme’s investment objective.
The fund management does not make any judgments about the investment merit of a particular commodity, nor will it attempt to apply any economic, financial or market analysis. Indexing eliminates active management risks with regard to over/ underperformance vis-à-vis a benchmark.
The scheme will endeavour to minimize the tracking error. However, there may be some distortions.
SBI Silver ETF is benchmarked against the Domestic price of Silver (based on London Bullion Market association (LBMA) Silver daily spot fixing price).
SBI Silver ETF will be managed by Ms Vandna Soni.
SBI Silver ETF is open for subscription from June 24, 2024 to June 27, 2024. The fund will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
Currently, the scheme does not offer any plans & options.
The minimum subscription amount is Rs 5,000/- and in multiples of Re. 1 thereafter.
SBI Silver ETF Fund of Fund
SBI Silver ETF FOF seeks to provide returns that closely correspond to returns provided by SBI Silver ETF. However, there can be no assurance that the investment objective of the Scheme will be realized.
Under normal circumstances, SBI Silver ETF FOF will hold an allocation of 95% to 100% in SBI Silver ETF and 0% to 5% in Government. Securities including Triparty Repo and units of debt mutual fund.
The investment objective of the scheme is to provide returns that track returns provided by SBI Silver ETF.
SBI Silver ETF will be managed by Mr Harsh Sethi
SBI Silver ETF FoF is open for subscription from June 27, 2024 to July 5, 2024. The fund will reopen for continuous sale and repurchase within 5 business days from the date of allotment.
The fund offers Direct Plan and Regular Plan. Under each plan the fund offers Growth option and Income Distribution cum Capital Withdrawal.
The minimum subscription amount is Rs 1,000/- and in multiples of Re. 1 thereafter.