Business oi-Roshni Agarwal

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Published: Saturday, January 1, 2022, 17:15 [IST]

The NFO offer by ICICI Prudential Mutual Fund for the silver ETF shall open on January 5 and conclude on January 19, 2022 as per the company’s site.

As per the disclosures made or the scheme information document:

The fund is suitable for:

Investment returns that closely track domestic prices of Silver, subject to tracking error.

Aiming for diversification of investment portfolio.

The Scheme will re-open for continuous Sale and Repurchase within 5 business days from the date of allotment. It may be noted that scheme risk-o-meter specified above is based on the scheme characteristics. The same shall be updated in accordance with provisions of SEBI circular dated October 5, 2020 on Product labelling in mutual fund schemes on an ongoing basis.

As per the investment details the fund shall be put in securities as listed below:

Subject to the Regulations and the disclosures as made under the section “How the Scheme will allocate its Assets”, the corpus of the Scheme can be invested in any (but not exclusively) of the following securities:

1. In Silver and Silver-related instrument(s).

2. Debt obligations of domestic government agencies and statutory bodies, which may or may not carry a Central/State Government guarantee.

3. Corporate debt (of both public and private sector undertakings).

4. Money market instruments permitted by SEBI/RBI, having maturities of up to one year.

5. Certificate of Deposits (CDs).

6. Commercial Paper (CPs).

7. The non-convertible part of convertible securities.

8. Exchange Traded Commodity Derivatives (ETCDs) with silver as underlying

9. Any other domestic fixed income securities.

Who can invest in the scheme?

Resident adult individuals either singly or jointly (not exceeding four)
Minor through parent/lawful guardian
Companies, Bodies Corporate, Public Sector Undertakings,
association of persons or bodies of individuals and societies
registered under the Societies Registration Act, 1860 (so long
as the purchase of units is permitted under the respective
constitutions)
Religious and Charitable Trusts are eligible to invest in the
Scheme, if the provisions of the respective constitution under
which they are established permits to invest under the
provisions of 11(5)(xii) of Income-tax Act, 1961 read with Rule
17C of Income-Tax Rules, 1962.
Partnership Firms
Karta of Hindu Undivided Family (HUF)
Banks & Financial Institutions
Non-resident Indians/Persons of Indian origin residing abroad
(NRIs) on full repatriation basis or on non repatriation basis
Army, Air Force, Navy and other para-military funds
Scientific and Industrial Research Organizations
51
Scheme Information Document
ICICI Prudential Silver ETF
Mutual Fund Schemes
Such other individuals/institutions/body corporate etc., as may
be decided by the AMC from time to time, so long as wherever
applicable they are in conformity with SEBI (Mutual Funds)
Regulations, 1996.
Any other category of investor who may be notified by
Trustees from time to time by display on the website of the
AMC.

Story first published: Saturday, January 1, 2022, 17:15 [IST]