NFO Alert: Edelweiss Mutual Fund launches Edelweiss Silver ETF; all you should know
Edelweiss Mutual Fund introduced the launch of the Edelweiss Silver ETF. The scheme opened for public subscription on November 16, 2023, and can shut on November 20, 2023. The scheme re-opens for steady sale and repurchase not later than November 24, 2023.
What sort of mutual fund scheme is that this?
This is an open-ended exchange-traded fund replicating/monitoring the home costs of silver.
What is the principle goal of investing on this fund?
The scheme goals to realize returns per the efficiency of home silver costs whereas accounting for monitoring error. It’s vital to notice that there isn’t any assure that the scheme will meet its funding goal, and it doesn’t present assurances or ensures concerning returns.
How might one make investments on this scheme?
Investors can make investments underneath the scheme with a minimal funding of ₹5000 per plan/choice and in multiples of Re 1. There is not any higher restrict for funding.
Under regular circumstances, the asset allocation of the scheme shall be as follows:
|
Instruments |
Indicative allocations (% of complete belongings) |
Risk Profile |
|
Silver & silver associated devices |
95% to 100% |
Moderate Risk to High Risk |
|
Debt and Money Market Instruments |
0% to five% |
Low Risk to Moderate Risk |
Are there related mutual funds available in the market?
To date, many asset administration corporations (AMCs) have launched such silver exchange-traded funds, thus, permitting inclined traders to avail of returns comparable to the whole returns of the securities on this explicit index. These embrace:
|
Name of the fund home |
Name of the fund |
| Aditya Birla Mutual Fund |
Aditya Birla Sun Life Silver ETF |
| Nippon India Mutual Fund |
Nippon India Silver ETF |
| HDFC Mutual Fund |
HDFC Silver ETF |
|
Axis Mutual Fund |
Axis Silver ETF |
|
ICICI Prudential Mutual Fund |
ICICI Prudential Silver ETF |
|
Kotak Mahindra Mutual Fund |
Kotak Silver ETF |
|
DSP Mutual Fund |
DSP Silver ETF |
|
UTI Mutual Fund |
UTI Silver ETF |
| Source: MoneyManagement | |
How will the scheme benchmark its efficiency?
The efficiency of the scheme shall be benchmarked towards the home value of silver (primarily based on LBMA silver every day spot fixing value).
The AMC/Trustee reserves the precise to vary the benchmark for analysis of the efficiency of the scheme once in a while, topic to SEBI Regulations and different prevailing pointers if any.
Are there any entry or exit masses to this scheme?
This scheme includes no “Entry Load”, which signifies that traders don’t have to pay something to park their earnings on this scheme. The “Exit Load” could be charged as underneath
For creation unit dimension: No “Exit Load” will be levied on redemptions made by market makers / large investors directly with the fund in creation unit size.
For other than creation unit size: Nil
Who will manage this scheme?
Ashish Sood would be looking after investments in this scheme.
Does the fund contain any inherent risk?
The scheme involves “High Risk” as per the small print talked about within the Scheme Information Document and is finest suited to traders keen to know that their principal shall be topic to excessive danger solely. However, traders ought to seek the advice of their monetary advisors in the event that they doubt whether or not the product is appropriate for them.
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Updated: 16 Nov 2023, 04:19 PM IST