Following the establishment of the newly established investment asset class by market regulator Sebi in 2021, mutual funds launched a slew of new fund offers in the silver ETF (exchange-traded fund) category this year and have gathered Rs 1,400 crore in Assets Under Management (AUM).
According to information with the Securities and Exchange Board of India (SEBI), fund houses, including Kotak Asset Management Company, have also submitted draught paperwork to the market regulator to float silver ETFs as well as silver ETF fund of funds for investors. Following the establishment of the newly established investment asset class by market regulator Sebi in 2021, mutual funds launched a slew of new fund offers in the silver ETF (exchange traded fund) category this year and amassed Rs 1,400 crore in assets.
According to information from SEBI, fund houses, including Kotak Asset Management Company, have also submitted draught paperwork to the market regulator to float silver ETFs as well as silver ETF fund of funds for investors. According to statistics given by Morningstar India, the sector has already received Rs 1,400 crore in assets based on silver funds as of July end. Since Sebi approved silver ETFs in November 2021, asset management firms are scrambling to introduce silver products.
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