ICICI Prudential launches first silver ETF fund of fund

ICICI Prudential has announced the launch of country's first silver ETF fund of fund, which is an open-ended fund, offering a good mix of all asset classes. The fund will open on January 13 and closes on January 27.
 
The fund house said it was the first to launch a silver ETF in the country and has now launched the first silver ETF FoF--ICICI Prudential Silver ETF fund of fund.
 
Since silver is bulky in nature and hence difficult to store, we believe the fund form will be one of the preferred ways for investors. By investing in this fund, investors need not worry about purity, quality or liquidity of the underlying asset and is also free from storage related hassles.

 
Given its low correlation with other asset classes, investors can consider taking exposure to silver as a part of their portfolio diversification exercise, the AMC said.