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Nippon India Mutual Fund (MF) has launched the Nippon India Silver ETF FOF, an open-ended Fund of Fund scheme investing in units of Nippon India Silver ETF. The NFO opens for subscription on January 13, 2022 and closes on January 27, 2022. The Entry load is nil for the scheme. The Exit load will be 1%, if redeemed or switched out on or before completion of 15 days from the date of allotment of units and nil, if redeemed or switched out after completion of 15 days from the date of allotment of units. The minimum subscription amount is Rs 100 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked to the performance to Domestic Price of Silver (based on LBMA Silver daily spot fixing price) and its fund manager is Mehul Dama.

The investment objective of the scheme is to seek to provide returns that closely correspond to returns provided by Nippon India Silver ETF by investing in units of Nippon India Silver ETF.