Zerodha Fund House launches Zerodha Silver ETF
Zerodha Fund House announced the launch of its new scheme Zerodha Silver ETF, an open-ended exchange traded fund replicating/ tracking domestic prices of physical silver. The scheme opens for subscription on 10 March, 2025 and will close on 18 March, 2025.
On the launch of the fund, Vishal Jain, CEO, Zerodha Fund House said, "Silver has the potential to play a role in both investment portfolios and modern industries. With its dual identity as both an industrial metal and a precious metal, our Silver ETF provides investors with a valuable tool to diversify their portfolios and capitalize on the metal's unique characteristics."
The investment objective of the scheme is to generate returns that are in line with the performance of physical silver in domestic prices, subject to tracking error. The Silver ETF will invest 95%-100% in silver and silver related instruments and 0-5% in debt and money market instruments, cash and cash equivalents.
Vaibhav Jalan, CBO, Zerodha Fund House also commented on the launch, "As demand for silver accelerates across technology and clean energy, our new Silver ETF provides investors an opportunity to participate in this evolving market."
The minimum amount for application is Rs.1000 and in multiples of Rs.1000 thereafter. The starting Net Asset Value (NAV) of this fund will be Rs.10/- per unit (subject to statutory deductions, if any) Or 1/10000th of silver per kg price.
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