HDFC Asset Management Company (HDFC AMC) has launched HDFC Silver ETF Fund of Fund (HDFC’s Silver ETF FOF)
HDFC Asset Management Company (HDFC AMC) has launched HDFC Silver ETF Fund of Fund (HDFC’s Silver ETF FOF), which is an open-ended Fund of Fund scheme investing in HDFC Silver ETF. The captioned NFO opens on October 7, 2022, and closes on October 21, 2022. In a statement, HDFC AMC said that the fund is available for all since a Demat account is not required.
Smart investment options like SIP, STP are available and the fund offers ease of investing in small amounts and is very cost-effective, the AMC said.
Investment objective
The investment objective of HDFC Silver ETF FOF is to seek capital appreciation by investing in units of HDFC Silver ETF. However, there is no assurance that the investment objective of the Scheme will be realized.
“Investing in physical silver and storing it in a safe manner could be difficult for an individual, hence HDFC’s Silver ETF FOF NFO gives an opportunity to investors to get exposure to silver through mutual fund, thereby eliminating the need to store silver physically. Festive times such as the upcoming Dhanteras are an especially good time to invest in this auspicious metal,” the AMC said.
“The Fund encourages investors to get exposure to silver due to its multi-purpose utility. It provides an opportunity to leverage on the greater adoption of Silver for new age technologies – solar power, electric vehicles, and industrial use cases from electrical switches to chemical-producing catalysts while hedging against currency risk,” it added.
Commenting on the launch, Navneet Munot, Managing Director and Chief Executive Officer, HDFC Asset Management Co. Ltd. said, “The HDFC Silver ETF FOF will provide investors the opportunity to invest in silver which serves dual utilities of being a precious metal and an industrial commodity.”
NFO dates
The New Fund Offer is available for investment from October 7 till October 21, 2022.
(Mutual fund investments are subject to market risks. Please consult your financial advisor before investing)
