Aditya Birla Sun Life MF introduces Silver EFT FoF

Aditya Birla Sun Life Mutual Fund (MF) has launched the Aditya Birla Sun Life Silver ETF Fund of Fund, an open-ended fund of fund scheme investing in the units of Aditya Birla Sun Life 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 0.5% of applicable NAV, for redemption/switch-out of units on or before 30 days from the date of allotment and nil, for redemption/switch-out of units after 30 days from the date of allotment. The minimum subscription amount is Rs 100 and in multiples of Re 1 thereafter.

The performance of the scheme will be benchmarked against the price of silver (based on LBMA Silver daily spot fixing price) and its fund managers are Lovelish Solanki & Kedarnath Mirajkar.

The investment objective of the scheme is to provide returns similar to the returns generated by Aditya Birla Sun Life Silver ETF.