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Business-Standard.com reports the first ever silver ETF to debut in Mumbai, India. Benchmark AMC has filed an offer document with Sebi for a silver exchange-listed fund, the first ever in India. The fund would invest in units of overseas mutual fund schemes, including exchange-traded funds investing in silver or securities/instruments linked to silver and exchange-traded notes …

Business-Standard.com reports the first ever silver ETF to debut in Mumbai, India.

Benchmark AMC has filed an offer document with Sebi for a silver exchange-listed fund, the first ever in India. The fund would invest in units of overseas mutual fund schemes, including exchange-traded funds investing in silver or securities/instruments linked to silver and exchange-traded notes whose returns are linked to silver.

Rajan Mehta, Executive Director of Benchmark mutual fund says:

Currently, the ETF market in India is limited to gold. “Normally, those who track gold track silver too. Moreover, silver is an industrial commodity and is more volatile than gold. Consequently, traders would like to take a call on silver, if they are not into the ETF market yet.”

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