Zirodha Fund House’s new ‘Silver ETF’ is open for subscription from today. Investors will be able to apply for this NFO i.e. New Fund Offer till March 18. The company will invest 90-100% of the funds raised from this NFO in silver and related instruments. The remaining amount can be invested in debt and money market. This fund will follow the domestic prices of silver. The objective of this fund is wealth creation in the long term. You can apply for this NFO with a minimum of ? 1,000 You can invest a minimum of ? 1,000 in the NFO of Zerodha Fund House Silver ETF. The initial net asset value (NAV) of the ETF will be Rs 10 per unit. Investors can apply for this NFO through Zerodha Coin and CAMS. No exit load on redemption of money after 15 days of NAV issue
There will be no exit load on redemption of money after 15 days of the issue of the Net Asset Value (NAV) of the mutual fund. However, an exit load of 1% will be charged if money is redeemed within 15 days of NAV allotment. How does Silver ETF work?
Silver ETF follows the market price. The returns of these ETFs are low or high according to the fluctuations in the price of silver. Fund managers buy silver from the money invested by investors in Silver ETF and keep it in safe vaults. What is NFO?
NFO means New Fund Offer. When any mutual fund is listed, it is called NFO. All the mutual funds that are currently available are listed in this way by bringing NFO.
