Highlights

  • Motilal Oswal MF and ICICI Prudential MF also had applied for gold and silver funds
  • Experts suggest that gold can be 5-10% of a portfolio

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Know all about India’s first gold and silver fund

Securities and Exchange Board of India (Sebi) had in September allowed MF houses to introduce silver exchange-traded funds (ETFs) in the Indian market

It's a shiny new offer from the house of Edelweiss right ahead of the festive season. Year after SEBI allowed mutual fund houses to introduce silver exchange-traded funds, asset management company (AMC) Edelweiss Mutual Fund is scheduled to launch India’s first scheme that offers exposure to gold and silver via a single fund on August 24.

Edelweiss’ new scheme will target equal exposure to the two metals and will rebalance periodically. Since the AMC doesn’t have a standalone gold or silver fund, the scheme will invest in units of gold and silver ETFs managed by other fund houses or Edelweiss.

The new fund offer for Edelweiss Gold and Silver ETF Fund of Fund (FoF) will close on 7 September. The scheme would invest in shares of gold and silver ETFs managed by other fund houses or Edelweiss since the AMC lacks a single gold or silver fund.

Read More:- CWG: India’s Priyanka Goswami clinches Silver with her personal best in 10,000m race walk

Looking for a hedge against inflation and reccession, the yellow metal has provided much solace to investors. Data showed that the yellow metal was up 26.1%, 31.7% and 11.3% during recession and market down-cycles in 2008, 2011 and 2016, respectively.

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