Thursday, July 18, 2024
Mirae Asset Mutual Fund Launches Mirae Asset Silver ETF
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MUMBAI, India, May 29, 2023 /PRNewswire/ -- Mirae Asset Mutual Fund, one of the fastest-growing fund houses in India, today announced the launch of Mirae Asset Silver ETF (An open-ended scheme replicating/tracking Domestic Price of Silver).

The New Fund Offer (NFO) opens on May 29, 2023 and closes on June 06, 2023. Scheme re-opens for continuous Sale & Repurchase on June 12, 2023. Listing of ETF units on stock exchanges i.e. BSE & NSE will be done within 5 days from the date of allotment. Mirae Asset Silver ETF will be managed by Mr. Ritesh Patel. During the NFO, an investor can invest a minimum of Rs. 5,000 and in multiples of Re. 1 thereafter.

To counter adverse movements in a particular asset or asset classes, investors can achieve effective diversification in their portfolios by incorporating alternative investments such as commodities. In India, investing in gold and silver ETFs are two most prominent investment strategies to gain exposure in commodity segment without the need to trade commodities or derivatives. These ETFs provide investors with the opportunity to invest in precious metals in the digital format instead of investing in physical gold and silver. To varying degrees, both gold and silver may provide a hedge in a potential economic or market downturn, as well as during sustained periods of rising inflation.

The Asset Under Management (AUM) of commodity-based ETFs have seen an uptick in the past 3 years* with AUM increasing at a 35% CAGR rate from INR 10,081 Crores to INR 24,718 Crores. With Securities and Exchange Board of India (SEBI) allowing ETFs based silver, 8 silver-based ETFs were launched by Mutual Fund Houses in the year 2022 which are now managing assets worth INR 1,785 Crores.

Source: AMFI data & Ace MF as on 30th April 2023.

*Past 3 years: Period is April 2020 to April 2023

Why to Invest in Silver ETF:

  • Silver tends to act as hedge against the inflation and rising dollar movement also unlike Gold, Silver has significant usage in industrial applications.
  • There are several trends driving up silver demand, including consumer electronics growth, investment in 5G infrastructure and rising silver use in the green economy – especially in solar photovoltaic (PV) panels.
  • In last 5 years, Silver has given return of 13.1% v/s 12.3% by Nifty 50 Index and 13.0% by Gold (As on April 30, 2023).
  • ETF is a relatively low-cost and easy option to take exposure in silver as it provides the convenience of buying and selling on stock exchanges just like stocks
  • For last two years i.e. 2021 and 2022, the demand for silver has exceeded the supply, however, the price has not moved significantly due to other macro-factors. Cooling down of factors will bring back attention to supply deficit

Siddharth Srivastava, Head - ETF Product, Mirae Asset Mutual Fund, said, "Silver is widely considered to be a relatively in times of economy turmoil and a good hedge against dollar, just like gold. In addition to these factors, silver price has found support from its growing use in industrial settings, which now accounts for roughly half of the silver annual demand. These factors make silver a very compelling asset to be included in an investor's portfolio either from a long-term point of view or for tactical allocation based on various technical indicators."

Mirae Asset Silver ETF will be benchmarked on the basis of domestic silver price based on the London Bullion Market Association (LBMA) silver daily spot fixing price.

Product Label & Disclaimers:

Mirae Asset Silver ETF 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)

*Investors should consult their financial advisors if they are not clear about the suitability of the product.

BSE/NSE Disclaimer: Every person who desires to apply for or otherwise acquires any unit of this Fund may do so pursuant to independent inquiry, investigation and analysis and shall not have any claim against the Exchange whatsoever by reason of any loss which may be suffered by such person consequent to or in connection with such subscription/ acquisition whether by reason of anything stated or omitted to be stated herein or any other reason whatsoever

Statutory Details: Trustee: Mirae Asset Trustee Company Private Limited; Investment Manager: Mirae Asset Investment Managers (India) Private Limited (AMC); Sponsor: Mirae Asset Global Investments Company Limited.

The information contained in this document is compiled from third party and publically available sources and is included for general information purposes only. There can be no assurance and guarantee on the yields. Views expressed by the Fund Manager cannot be construed to be a decision to invest. The statements contained herein are based on current views and involve known and unknown risks and uncertainties. Whilst Mirae Asset Investment Managers (India) Private Limited (the AMC) shall have no responsibility/liability whatsoever for the accuracy or any use or reliance thereof of such information. The AMC, its associate or sponsors or group companies, its Directors or employees accepts no liability for any loss or damage of any kind resulting out of the use of this document. The recipient(s) before acting on any information herein should make his/her/their own investigation and seek appropriate professional advice and shall alone be fully responsible / liable for any decision taken on the basis of information contained herein. Any reliance on the accuracy or use of such information shall be done only after consultation to the financial consultant to understand the specific legal, tax or financial implications.

Please consult your financial advisor or mutual fund distributor before investing.

For further information about other schemes (product labelling and performance of the fund) please visit the website of the AMC:

Mutual fund investments are subject to market risks, read all scheme related documents carefully.

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