May 28, 2023
mayank
Mirae Asset Silver ETF NFO
NFO opens on May 29, 2023
NFO will close on June 06, 2023
(Our detailed Guidance is given at the bottom of the Page)
Investment Strategy
The scheme seeks to generate returns that are in line with the performance of physical silver in domestic prices, subject to tracking error. The Scheme does not guarantee or assure any returns.
Basic Details
| Fund House | Mirae Asset Mutual Fund |
| Issue Open | 29 May 2023 |
| Issue Close | 06 June 2023 |
| Type | Open-ended |
| Category | Commodities: Silver |
| Min. Investment(₹) | 5,000 |
| Plans | Growth |
| Lock-in Period | NA |
| Exit Load | 0 |
| Riskometer | Very High |
| Benchmark | Domestic Price of Silver |
About Benchmark Index
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.
Past Performance of Benchmark Index
| 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 |
| – | – | – |
Fund Manager
1) Ritesh Patel
Education: Mr. Ghosh is a Commerce Graduate and holds a Degree in CS and LLB.
Experience: Prior to this assignment, 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.
Past Performance of his Schemes
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: http://www.karvymfs.com
Guidance for Mirae Asset Silver ETF NFO by Paresh Gordhandas, C.A., Research Analyst.
Precious metal, silver, has appreciated by 72.7% during the decade, however, it has delivered negative returns in five out of the last 10 years. So to achieve diversification of your investments, you may go for investment in Silver through this NFO. However do remember that after strong rise during lockdown period, the chances are high that in near future, the metal may not provide good returns. As a long term investment, it can give adequate returns. Invest Online
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