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ICICI Prudential Mutual Fund has filed offer document with SEBI to launch an open-fund of fund named ‘ICICI Prudential Silver ETF Fund of Fund'. The New Fund Offer price is Rs 10. Entry load will be nil and Exit load if  the  amount  sought  to  be  redeemed  or  switched  out  is  invested for a period up to 15 days from the date of allotment  will be 1% of the applicable Net Asset Value; If  the  amount  sought  to  be  redeemed  or   witched  out  is  invested for a period more than 15 days from the date of  allotment will be Nil . The Scheme offers growth and dividend options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.

The performance of the scheme will be benchmarked against domestic price of Silver. The minimum application amount is Rs 100 per application and in multiples of Re 1 thereafter.

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