August 8, 2025
RA Jainee
Mirae Asset Gold Silver Passive FoF NFO Review – Should You Invest?
Table of Contents:
1. NFO Open date, Close date
2. NFO Investment Strategy
3. Basic Details NFO
4. Benchmark Index NFO
5. Fund Manager | Performance Review of Fund Manager
6. Should You Invest in this NFO?
7. Invest Online
What is the Mirae Asset Gold Silver Passive FoF Open Date, Close Date?
NFO opens on August 11, 2025
NFO will close on August 25, 2025
Investment Strategy for this NFO?
The scheme seeks to provide long-term capital appreciation from a portfolio investing in units of Mirae Asset Gold ETF and Mirae Asset Silver ETF.
Basic Details
| Fund House | Mirae Asset Mutual Fund |
| Issue Open | 11 August 2025 |
| Issue Close | 25 August 2025 |
| Type | Open-ended |
| Category | Commodities: Gold |
| Min. Investment(Rs) | 5,000 |
| Plans | Growth, IDCW |
| Lock-in Period | NA |
| Exit Load | 0.05% for redemption within 15 days |
| Riskometer | Very High |
| Benchmark | Domestic Price of Gold (50), Domestic Price of Silver (50) |
About Benchmark Index for this NFO?
Gold:
Traditionally, Gold has been used as money and also served as a relative standard for currency equivalents specific to economic regions or countries, until recent times. India continues to remain world’s second biggest consumer of Gold.
From an overall evaluation it is seen that India has a traditional and stable market for gold consumption. There is increase in demand from Ornamental and Electronic Sectors. Gold is considered a valuable asset, for investments and bank reserves. A huge gap exists between demand and indigenous production which is likely to continue
The market participants engaged in import, exports, domestic trading, and manufacturing of gold and gold jewelleries are exposed to price risk. Commodity derivatives product provide an effective hedging tool much to the advantage of market participants.
Silver:
Silver has been used for thousands of years for ornaments and utensils, trade, and as the basis for many monetary systems. Its value as a precious metal was long considered second only to gold. Silver is a brilliant grey-white metal that is soft and malleable. Its unique properties include its strength, malleability, ductility, electrical and thermal conductivity, sensitivity, high reflectance of light, and reactivity.
India is not a major silver exporter in pure form, although it exports silver jewellery. In terms of mine production, India is ranked 14th and is ranked third in terms of demand and imports. India imports Silver (unwrought or semi-manufactured) from countries such as China, United Kingdom, Russian Federation, Germany and Rep of Korea, while it exports silver jewellery to countries such as US, Hong Kong, UAE.
The major countries producing Silver are Mexico, Peru, China, Chile and Russia. Major consuming countries are United States, China, India, Japan and Russia. Major Silver exporting countries are Mexico, Rep of Korea, Canada, China and Hong Kong.
The market participants engaged in import, exports, domestic trading, and manufacturing of silver and silver jewelleries are exposed to price risk. Commodity derivatives product provide an effective hedging tool much to the advantage of market participants.
Fund Managers of Mirae Asset Gold Silver Passive FoF
1) Ritesh Patel
Education: Mr. Ghosh is a Commerce Graduate and holds a Degree in CS and LLB.
Experience: Prior to joining Mirae asset MF, he was Assistant Company Secretary with JM Financial Asset Management Pvt. Ltd. He has also been associated with organizations like Hindustan Composites Ltd, Tower Capital & Securities Pvt. Ltd and Multi-Arc India Ltd.
AMC
Mirae Asset Investment Managers (India) Pvt. Ltd.
Address: Unit No.606 – 6th Floor, Windsor Building – Off. CST Road, Kalina, Santacruz (East), Mumbai – 400098
Website: http://www.miraeassetmf.co.in
Registrar & Transfer Agent
KFin Technologies Ltd.
Address: 303, Vamsee Estates, Opp. Big Bazaar, Ameerpet, Hyderabad – 500016
Website: https://mfs.kfintech.com/mfs/
Review for Mirae Asset Gold Silver Passive FoF @ sahifund.com by Paresh Gordhandas, C.A. & Research Analyst
[ A ] Benchmark Performance of Domestic Price of Gold (50), Domestic Price of Silver (50)
Performance
| Index Returns (%)# | QTD | YTD | 1 Year | 5 Years | Since Inception |
| Price Return | – | – | – | – | – |
| Total Return | – | – | – | – | – |
| Statistics ## | 1 Year | 5 Years | Since Inception |
| Std. Deviation * | – | – | – |
| Beta (NIFTY 50) | – | – | – |
| Correlation (NIFTY 50) | – | – | – |
Fundamentals
| P/E | P/B | Dividend Yield |
| – | – | – |
Study about Benchmark Index in details
Benchmark Index Performance
The fund tracks Domestic Gold (50%) and Silver Prices (50%), offering commodity diversification:
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Gold: Over the last 1 year (till Aug 2025), gold has rallied ~44% due to global safe-haven demand, inflation hedge, and central bank buying. Over 5 years, gold CAGR has been ~11%, delivering stability during equity downturns.
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Silver: More volatile but also more rewarding. In the past year, silver has gained ~38% globally, outperforming gold in percentage terms. Over 5 years, silver CAGR is ~9–10%, though with sharp up-and-down cycles.
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Combined Effect: A 50-50 gold-silver blend adds both stability (gold) and growth potential (silver). However, volatility remains high compared to equity-debt hybrid benchmarks.
Verdict on Benchmark: Strong short-term tailwinds from commodities, but not immune to global price swings. Good hedge against equity-heavy portfolios.
[ B ] Performance Review of the Fund Managers of this NFO
Past Performance of Ritesh Patel
| Fund | Mirae Asset Gold ETF | It’s Benchmark | Mirae Asset Multi Asset Allocation Fund | It’s Benchmark |
| 1 Year | 44.05 | 44.90 | 9.75 | 6.16 |
| 3 Year | — | — | — | — |
| 5 Year | — | — | — | — |
| 7 Year | — | — | — | — |
| 10 Year | — | — | — | — |
As on 08-8-2025
Fund Manager Performance
Ritesh Patel – Fund Manager
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Mirae Asset Gold ETF (1-year return ~44.05%) – closely tracked benchmark performance (44.90%).
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Mirae Asset Multi Asset Allocation Fund (1-year return ~9.75% vs 6.16% benchmark) – demonstrated ability to generate alpha through allocation.
Track Record:
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Ritesh Patel has shown competency in managing commodity-linked strategies with minimal tracking error in Gold ETF.
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Limited long-term track record in multi-asset/commodity funds, but performance in recent 1-year period is encouraging
Sahifund Verdict
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Strengths:
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Rare fund offering dual commodity exposure (gold + silver).
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Gold provides inflation hedge and crisis protection.
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Silver adds industrial demand-linked upside.
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Mirae AMC has strong reputation in passive and ETF space.
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Risks:
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Very High risk profile due to full commodity exposure.
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Global price movements of gold/silver can lead to short-term volatility.
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Not a replacement for equity or balanced allocation funds.
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Suitability:
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Best for investors seeking hedge against equity markets or those who want diversification into commodities.
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Should form only a satellite allocation (5–10% of portfolio), not core holding.
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Sahifund View:
Mirae Asset Gold Silver Passive FoF is an innovative diversification product. Good for long-term wealth protection and inflation hedge. Not ideal for conservative or short-term investors.
Peer Mention: How does it compare with existing Gold/Silver funds?
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HDFC Gold ETF – Strong long-term performer, 5-year CAGR ~11%, but offers gold-only exposure.
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Nippon India Gold Savings Fund – Mirrors Nippon Gold ETF, convenient SIP route, but again gold-only.
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ICICI Prudential Gold ETF – Among the largest AUMs in gold ETFs, consistent benchmark tracking.
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Mirae Asset Gold Silver Passive FoF (NFO) – Unique because it gives both gold + silver exposure in one fund, which peers currently do not offer.
Investors who already hold gold-only funds may use this NFO for additional silver diversification.
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
The NFO opens on 11 August 2025 and closes on 25 August 2025.
It will invest in units of Mirae Asset Gold ETF and Silver ETF to provide gold + silver exposure.
The minimum application amount is Rs. 5,000.
The scheme will be managed by Ritesh Patel, who also manages Mirae Asset Gold ETF.
This fund is suitable for investors looking to diversify into precious metals as a hedge. Allocation should be limited to 5–10% of overall portfolio.
Is it good to invest in Mirae Asset Gold Silver Passive FoF NFO?
>> Post your MF questions @ sahifund.com/ask-me/
>> NFO Guidance:
https://sahifund.com/category/nfos/
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