NFO: ICICI Pru Silver ETF FOF

By Morningstar |  06-01-22 | 
 

ICICI Prudential has launched Silver ETF Fund of Fund (FOF). The NFO opens for subscription on January 13, 2022, and closes on January 27, 2022.

The fund will invest in ICICI Prudential Silver ETF. The underlying ETF invests in physical silver and silver-related instruments with silver as the underlying.

The minimum investment required during NFO is Rs 100.

In each of the past three periods of crisis (Subprime mortgage, taper tantrum and Covid -19) which affected global financial markets, Silver has at times outperformed equity as an asset class. Apart from this, silver price history shows that during times of rising inflation, there can be an uptick in silver price, states ICICI Pru AMC.

Apart from investment, silver has extensive application across renewable energy, industrials and electronics, jewelry, etc. The industrial demand for silver as a proportion of total demand has increased due to its increasing application in modern environment-friendly manufacturing, a trend which is likely to gather pace in the times ahead.

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