Fund houses line up Silver ETF launches after Sebi's operational guidelines

Market players believe just like Gold ETFs, silver passive funds can become popular in India. The main aim of the schemes is to generate returns in line with performance of physical silver

Aditya Birla Sun Life Mutual Fund (MF), Nippon Indian MF and Mirae Asset have filed offer documents with the Securities and Exchange Board of India (Sebi) to launch silver exchange traded funds (ETFs).

Late last month, the market regulator issued the operational framework to launch this product.

Market players believe that just like Gold ETFs, silver passive funds have also potential to become popular in India. The main objective of the schemes is to generate returns that are in line with the performance of physical silver in domestic markets.

Sebi had laid down several norms for the asset management companies