A New Investment Opportunity in Precious Metals Edelweiss Mutual Fund Launches Edelweiss Silver ETF

Nov 16, 2023

Edelweiss Mutual Fund taps into the Silver market with launch of – Edelweiss Silver ETF

It is an open-ended exchange traded fund replicating/tracking domestic prices of Silver.

Accordingly, 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 assurance that the investment objective of the Scheme will be realized and the Scheme does not assure or guarantee any returns.

[Read: Performance of Silver Mutual Funds is Slowing Down. Here's Why]

Under normal circumstances, Edelweiss Silver ETF will hold an allocation of 95% to 100% in Silver & Silver related instruments, and 0% to 5% in Debt and Money Market Instruments.

As per the Scheme Information Document, Edelweiss Silver ETF aims to generate returns that are in line with the performance of physical Silver in domestic prices, subject to tracking error.

The Scheme may invest in Silver and Silver related instruments (including derivatives) and intends to track the domestic price of Silver. 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.

[Read: Are ETFs Better Than Traditional Mutual Funds? Let’s Find Out....]

Edelweiss Silver ETF’s performance will be benchmarked against Price of Silver (based on LBMA Silver daily spot fixing price).

The scheme will be managed by Mr Ashish Sood.

The NFO opens for subscription on November 16, 2023 and closes on November 20, 2023. The schemes will reopen for continuous sale and repurchase on November 24, 2023.

The minimum subscription amount is Rs 5,000/- and in multiples of Re.1/- thereof.

Currently, there are no plan/options available under the Scheme.