Publish Date:
Kotak Mahindra Mutual Fund has launched – Kotak Silver ETF Fund of Fund.
It is an open-ended Fund of Fund scheme investing in units of Kotak Silver ETF
Accordingly, the investment objective of the scheme is to generate returns by investing in units of Kotak Silver ETF. However, there can be no assurance that the investment objective of the Scheme will be realized.
Under normal circumstances, Kotak Silver ETF Fund of Fund will hold an allocation of 95% to 100% of its assets in Units of Kotak Silver ETF and 0% to 5% in Debt & Money Market Instruments including units of debt oriented Mutual Funds.
As per the Scheme Information Document, Kotak Silver ETF Fund of Fund aims to generate returns that are in line with the performance of the underlying scheme, subject to tracking error. The underlying Scheme may invest in Silver and Silver related instruments (including derivatives as and when SEBI / RBI permits) and intends to track the spot price of Silver. 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.
Kotak Silver ETF Fund of Fund’s performance will be benchmarked against Price of silver (based on LBMA daily spot fixing price).
The scheme will be managed by Mr Jeetu Valechha Sonar and Mr Abhishek Bisen
The NFO opens for subscription on March 13, 2023, and closes on March 27, 2023. The schemes will reopen for continuous sale and repurchase on April 13, 2023.
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 any amount thereafter.
The scheme offers Regular Plan and Direct Plan each plan offers Growth option only.