SBI Mutual Fund launches SBI Silver ETF

SBI Mutual Fund has launched SBI Silver ETF, an open-ended exchange traded scheme tracking the price of silver.

The investment objective of the scheme is to generate returns that are in line with the performance of physical silver in domestic prices, subject to tracking error.

The scheme will be benchmarked against the Domestic price of silver. The fund manager of the scheme will be Vandna Soni.

“In today’s global economic scenario, there is an increased demand of metals which act as an inflation hedge. Unlike its better-known counterpart Gold, Silver finds a lot of use in industrial applications and this flexibility helps increase its value in the long term. Hence, investors looking to diversify into commodities can choose to invest through SBI Silver ETF and have the opportunity to be a part of its long-term growth prospects,” said Shamsher Singh, MD & CEO, of SBI Mutual Fund.