‘Mirae Asset Silver ETF’, This is an open-ended exchange-traded fund scheme replicating/tracking the domestic price of silver, was introduced by Mirae Asset Mutual Fund. The NFO is now open for subscription from May 29th, 2023 and will end on June 6th, 2023. Within five Business Days following the date of allotment(June 12th), the Schemes will reopen for continuous sale and repurchase. Subscriptions can be made starting at Rs. 5,000 and in multiples of Rs. 1/-.
About Mirae Asset Mutual Fund
Mirae Asset Global Investments is a global diversified asset manager offering cutting-edge strategies to customers in an ever-evolving global market. In administering their fully diversified investment platform, Mirae Asset Global Investments, which was created in Asia and currently has a presence in 16 countries, they employ a collaborative approach.
As part of an internal restructuring of its business effective as of January 1, 2020, Mirae Asset Global Investments (India) Private Limited (“MAGI India”) has transferred its asset management business to its wholly owned subsidiary, Mirae Asset Investment Managers (India) Private Limited (“Mirae AMC”). Effective January 1, 2020, Mirae AMC has taken over as the Asset Management Company (“AMC”) of Mirae Asset Mutual Fund (“MAMF”) from MAGI India.
Mirae Asset Silver ETF – NFO Detail
| Type of Offer | NFO (New Fund Offer) |
| Fund House | Mirae Asset Mutual Fund |
| Name of the Fund | Mirae Asset Silver ETF |
| Type of Scheme | Open-ended |
| Category of Scheme | ETF |
| NFO Starts | 25-May-2023 |
| NFO Ends | 06-June-2023 |
| NFO Unit Price | Rs 10 per unit |
| Minimum Investment | Rs. 5000 |
| Plans | Regular |
| Options | Growth |
| Entry Load | Not Applicable |
| Exit Load | Nil. |
| Investment Manager | Mirae Asset Investment Managers (India) Private Limited |
| Fund Manager | Mr. Ritesh Patel |
Mirae Asset Silver ETF NFO – Scheme Objective
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.
Mirae Asset Silver ETF NFO – Who Can Invest?
This product is suitable for investors who are seeking*:
- Investors seeking returns that are in line with the performance of silver over the long term, subject to tracking errors.
- Investments in physical silver of 99.9% purity (fineness).
How Will the Scheme Allocate Its Asset
- 95-100% in Silver*
- 0-5% in Money market instruments including Tri Party REPO/ debt securities, Instruments and/or units of debt/liquid schemes of domestic Mutual Funds.
Where Will the Scheme Invest?
- The Scheme, out of the funds allocated shall primarily invest in Silver (includes physical Silver and other Silver related instruments which may be permitted by Regulator from time to time) and shall invest in debt and money market securities, only to the extent necessary to meet the liquidity requirements for honoring repurchase / redemptions / expenses.
- The Scheme may invest in the schemes of Mutual Funds in accordance with the applicable extant SEBI (Mutual Funds) Regulations as amended from time to time.
- the Scheme may, for meeting liquidity requirements invest in units of money market/liquid schemes of Mirae Asset Mutual Fund and/or any other mutual fund provided that aggregate interscheme investment made by all schemes under the same management or in schemes under the management of any other asset management company shall not exceed 5% of the net asset value of the mutual fund. The AMC shall not charge any investment management fees with respect to such investment.
Mirae Asset Silver ETF NFO – SID (Scheme Information Document)
Please click here to read the SID (Scheme Information Document) of this upcoming NFO scheme.
How to Invest?
Visit this page on the AMC website for further detail and investment.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing.
