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ICICI Prudential Mutual Fund (MF) has launched the ICICI Prudential SILVER ETF FUND OF FUND (FOF), an open-ended fund of fund scheme investing in units of ICICI Prudential Silver ETF. The NFO opens for subscription on January 13, 2022 and closes on January 27, 2022. The Entry load is not applicable for the scheme. The Exit load will be 1% of the applicable Net Asset Value, if the amount sought to be redeemed or switched out is invested for a period upto 15 days from the date of allotment and nil, if the amount sought to be redeemed or switched out is invested for a period more than 15 days from the date of allotment. The minimum subscription amount is Rs 100 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against the domestic price of Silver and its fund managers are Manish Banthia and Nishit Patel.

The investment objective of the scheme is to generate returns by investing in units of ICICI Prudential Silver ETF.