MUTUAL FUNDS
ICICI Pru AMC announces Discontinuation of Subscription in Silver ETF Fund of Fund
Oct-14-2025

ICICI Prudential Asset Management Company (AMC) has announced addendum to the Scheme Information Document & Key Information Memorandum of ICICI Prudential Silver ETF Fund of Fund.

ICICI Prudential Mutual Fund has informed that ICICI Prudential Trust has approved temporary discontinuation of subscriptions in ICICI Prudential Silver ETF Fund of Fund (‘Silver ETF FOF’) through Lump sum mode (including Switches) and fresh registration of Systematic Investment Transactions i.e. Systematic Investment Plan (‘SIP’) and/ or Systematic Transfer Plan (‘STP’) registration (Target scheme) with effect from October 14, 2025 till further notice.

Silver ETF FOF is a fund of fund scheme with the primary objective to generate returns by investing in units of ICICI Prudential Silver ETF (‘Silver ETF’). The primary objective of Silver ETF is to generate returns that are in line with the performance of physical silver in domestic prices, subject to tracking error. The closing price of the units of ETF on the exchange is used for valuation of a FOF investing in an ETF. The prices of silver in India have risen significantly above global benchmarks due to local shortages and has led to inflated prices of silver ETFs on the exchange. The premium of the silver price in India is mainly due to supply constraints. The lack of supply of physical silver in the bullion market is expected to continue for near future which may in turn impact the fresh investments by Silver ETF FOF in Silver ETF. 

In the view of above and to protect the interest of the investors, the subscription in the Silver ETF FOF has been temporarily discontinued till further notice. The AMC shall continue processing the existing Systematic transactions registered prior to October 14, 2025. 

Investors are further requested to note that during this suspension period, redemptions (including switch-outs) will continue to be permitted in accordance with the terms outlined in the Scheme Information Document. All purchase or switch-in transactions of the Scheme timestamped on or before 3.00 PM of October 13, 2025, shall be accepted and processed at applicable NAV. The aforesaid suspension is temporary in nature and will continue only till further notice in this regard. 

All the other provisions of the SIDs and KIMs of the schemes, except as specifically modified herein above remain unchanged. This Notice-cum-Addendum forms an integral part of the SID and KIM of Silver ETF FOF, as amended from time to time.


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