ICICI Prudential Mutual Fund Silver ETF: How to apply online, NFO open close dates, minimum amount, benefits, risk, exit load and other key details

ICICI Prudential Mutual Fund has launched ICICI Prudential Silver ETF. As per a statement by ICICI Prudential Mutual Fund, it is the first passive scheme in India that will be investing in physical silver. 
"The objective is to generate returns that are in line with the performance of physical silver in domestic prices, subject to tracking error," ICICI Prudential Mutual Fund said.

Here are key things to know:-

- OPEN/CLOSE DATES:

NFO opens January 05, 2022, and closes on January 19, 2022

HOW TO APPLY ONLINE

https://www.icicipruamc.com/icici-prudential-silver-etf

- Minimum Application Amount: 

During NFO: Rs. 100/- ( plus in multiple of Re. 1)

During Ongoing Offer Period:

On Stock Exchanges – Investors can buy/ sell units of the scheme in round lot of 1 unit and in multiples there of

Directly with the Mutual Fund – Authorized Participant(s)/ Investor(s) can buy/ sell units of the scheme in Creation Unit Size viz. 30,000 units and in multiples there of

- INVESTMENT:

The scheme will invest its proceeds in Physical Silver and silver relatedinstruments

- BENEFITS:

Unlike holding Physical Silver, an investor can benefit from investing in Silver ETFs as it provides more liquidity and less storage costs

- Type of Scheme

- An open-ended scheme replicating/tracking Domestic Price of Silver).

- Benchmark Index:

Domestic price of silver as derived from the LBMA prices.

- Exit Load:

Nil

- Liquidity: Units are listed on Stock Exchange

- SCHEME RISKOMETER:

Moderately high

Commenting on the launch, Chintan Haria Head Product & Strategy, ICICI Prudential Mutual Fund, said, "We believe Silver ETF will be one of the preferred ways for investors to take exposure to silver as one need not worry about the bulky nature of silver, purity, quality or liquidity of the investment. Silver is among the preferred option globally when it comes to investing in precious metals.This is because silver is considered as a store of value, hedge against inflation and has very limited co-relation with other asset classes." 

(DISCLAIMER: Mutual Fund investments are subject to market risks, read all scheme-related documents carefully. )