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Axis Mutual Fund has launched Axis Silver ETF, an open ended scheme replicating domestic price of silver and Axis Silver Fund of Fund, an open ended fund of fund scheme investing in units of Axis Silver ETF.
In a press release, Chandresh Nigam, MD & CEO, Axis MF said, “Silver’s interesting proposition wherein it has the ability to act as an industrial commodity as well as a precious metal is one of the key factors that we believe will drive its significance. Now that investors have access to investing in silver via ETFs, it will further increase the metal’s value as a promising asset class in the future.”
The company press release said that silver has widespread usage across multiple sectors like bio pharma and medical technologies, power generation and clean energy, and electric vehicles and mobility technologies. Furthermore, silver not only provides diversification to the portfolio but also has the potential to provide a hedge against inflation, said the company.
