Can you tell me about the ICICI Prudential Silver ETF Fund launching soon?

ICICI Prudential MF will launch India’s first silver ETF with NFO opening on 05th January. Other fund houses like HDFC MF, Nippon India Mutual Fund, Mirae and DSP are also in the race. Silver ETFs must invest at least 95% of net assets in silver and silver-related instruments. The ETF will endeavour to generate returns at par with LBMA price.

Holding silver ETFs can be more liquid and entails lower storage costs. Globally, silver is a preferred option as a proxy for precious metals. Silver is preferred due to its low correlation with other asset classes.