ICICI Prudential AMC Launches ICICI Prudential Silver ETF Fund of Fund : NFO Closes on January 27

20 January 2022

ICICI Prudential AMC has launched a new fund offer for ICICI Prudential Silver ETF Fund of Fund. The fund is open for subscription between January 13, 2022, and January 27, 2022.

Read on to find out more about the NFO

Investment Objective

ICICI Prudential Silver ETF Fund of Fund is an open-ended fund of fund scheme investing in units of ICICI Prudential Silver ETF.

Indicative Asset Allocation

Types of Instruments  Indicative allocation  

(% of total assets) 

Risk Profile
Minimum Maximum
Units of ICICI Prudential Silver ETF 95% 100% Medium
Debt & Money Market Instruments  0% 5% Low to Medium 

Fund Details

Scheme name ICICI Prudential Silver ETF Fund of Fund  
Type of scheme An open-ended fund of fund scheme investing in units of ICICI Prudential Silver ETF.
NFO Dates January 13 – January 27, 2022
Fund Managers Mr. Manish Banthia
Benchmark LBMA Silver Price
Minimum Amount for Application during NFO Rs. 100/- and in multiples of Re. 1/- thereafter.
Minimum Additional Purchase Amount Rs. 100/- and in multiples of Re. 1/-
Minimum Redemption/Switch-Out Amount Any Amount
Load If the amount is invested for a period of up to 15 days from the date of allotment – 1% of the applicable Net Asset Value 

If the amount is invested for a period of more than 15 days from the date of allotment – Nil

Plans Direct and Regular
Options Growth, Income Distribution cum Capital Withdrawal Option / IDCW Option.
Minimum SIP Amount 6 installments of Rs. 100/- each

Benchmark

LBMA Silver Price

The Scheme’s performance is benchmarked against the domestic price of Silver. The domestic price of Silver will be derived from the LBMA prices. 

The London Bullion Market Association (LBMA) is an international trade association representing the global Over The Counter (OTC) bullion market.

Fund Managers

Mr. Manish Banthia 

Mr. Pranav Vasa has been associated with ICICI Prudential Asset Management Company Limited since October 2005. He has an overall work experience of around 16 years. 

Past Experience: 

  • ICICI Prudential Asset Management Company Limited – Fixed Income Investments – August 2007 to October 2009. 
  • ICICI Prudential Asset Management Company Limited – New Product Development – October 2005 to July 2007. 
  • Aditya Birla Nuvo Ltd. – June 2005 to October 2005. 
  • Aditya Birla Management Corporation Ltd. – May 2004 to May 2005.

Other funds managed by him are:

  • ICICI Prudential Regular Savings Fund
  • ICICI Prudential Equity Savings Fund
  • ICICI Prudential Equity & Debt Fund
  • ICICI Prudential Child Care Fund (Gift Plan)
  • ICICI Prudential Ultra Short Term Fund
  • ICICI Prudential Short Term Fund
  • ICICI Prudential Medium Term Bond Fund
  • ICICI Prudential Bond Fund
  • ICICI Prudential Long Term Bond Fund
  • ICICI Prudential Balanced Advantage Fund
  • ICICI Prudential Credit Risk Fund
  • ICICI Prudential Gold ETF
  • ICICI Prudential All Seasons Bond Fund
  • ICICI Prudential Debt Management Fund (FOF)
  • ICICI Prudential Asset Allocator Fund (FOF)
  • ICICI Prudential Thematic Advantage Fund (FOF)
  • ICICI Prudential Retirement Fund (all plans)
  • ICICI Prudential Income Optimizer Fund (FOF)
  • ICICI Prudential Business Cycle Fund
  • ICICI Prudential Regular Gold Savings Fund (FOF)

Disclaimer

The stocks mentioned in this article are not recommendations. Please conduct your own research and due diligence before investing. Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.
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