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UTI Mutual Fund has launched UTI Silver ETF and UTI Silver ETF FoF.
UTI Silver ETF is an open-ended scheme tracking domestic price of silver and UTI Silver ETF FoF is an open-ended Fund of Fund Scheme investing in units of UTI Silver ETF.
In a press release, Sharwan Goyal, Fund Manager and Head – Passive, Arbitrage and Quant strategies at UTI MF said, “Both the schemes offer an opportunity to leverage on the greater adoption of silver for new age technologies and a potential hedge against currency depreciation and inflation risk. The funds will provide investors a simple and cost-effective way to take exposure in silver as an asset class.
