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SBI: SBI's new scheme.. Available from June 27.. What is the minimum investment?

Samayam | June 27, 2024 8:44 AM CST

SBI: State Bank of India's SBI Mutual Fund has launched a new scheme. SBI Silver ETF is launching this new scheme called Fund of Funds. However, the subscription to this new scheme will be available only till 5th July. And when does this subscription start? What is the minimum investment? Now let us know the complete details.

SBI: In recent times they are investing heavily in mutual funds. Do you also want to invest in mutual funds? Waiting for new funds to launch? But this is for you. SBI Mutual Funds, a subsidiary of State Bank of India, has given good news to equity investors. A new scheme has been launched. The same is SBI Silver ETF Fund Of Fund (SBI Silver ETF Fund Of Fund). It is an open ended fund of fund scheme. SBI Silver invests in ETFs. The subscription for this new fund offer starts on 27th June and ends on 5th July.

' In today's global economic conditions demand for metals has increased which affects inflation. Apart from the main metal gold, silver is also in good demand. Increasing demand will help the value of silver rise in the long run. Hence investors looking to move into commodities can choose to invest through a silver ETF or fund of funds offering. There are chances of good growth in the long run.' SBI Mutual Fund MD and CEO Shamsher Singh said.

SBI Mutual Fund Deputy MD DP Singh stated that silver is not only a precious metal but also an industrial metal. Its demand will be high in sectors like electronics and renewable energy. This will improve the long-term growth potential of silver and benefit commodity investors. But, currently it will not have more impact than gold.

The new scheme SBI Silver ETF will invest 95 per cent to 100 per cent in silver and silver related sectors. The remaining 5 percent of the funds will be invested in government securities such as SDL and Treasury Bills. The minimum investment per application in this New Fund Offer (NFO) subscription is Rs. 5000 was fixed. After that you can invest any amount. SBI has appointed Harsha Sethi as the manager of this fund.