Two years after the launch of the first mutual fund (MF) offering, silver exchange-traded funds (ETFs) are gaining greater traction. The assets under management (AUM) of the eight ETFs offered by various fund houses crossed the ₹5,000 crore mark in April amid a rally in silver prices.
Last month, the AUM of gold ETFs offered by domestic MFs topped 31,000 crore for the first time. Inflows into silver ETFs have been elevated since the start of the calendar year 2024. During JanuaryMarch 2024, the garnered net inflows of over 1,500 crore compared to around 1,300 crore inflow in the previous nine months of 2023-24 shows data from the Association of Mutual Funds in India.
Back-of-the-envelope calculations based on April 25 AUM disclosures show an inflow of around ₹650 crore in April. Likewise, inflows into gold ETFs a more established offering have averaged 550 crore over the past nine months.
This story is from the April 30, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the April 30, 2024 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
India Inc profit in Q4 grew least in 5 quarters
Listed companies' combined net profits (adjusted for exceptional gains and losses) were up 11.4 per cent yearon-year (Y-o-Y) in the January-March 2024 (Q4FY24), growing at the slowest pace in the last five quarters.
Rising mercury quenches FMCG thirst
With heatwave persisting in most parts of the country, fastmoving consumer goods (FMCG) companies continue to report a sharp increase in the sales of summer-centric products like ice creams and cold beverages.
Agnikul fires up reusable rocket dream, orbital launch next target
After the successful test flight of Agnibaan SORTED, Chennai-based space startup Agnikul Cosmos is lining up an orbital flight in the next 12 months and is also drawing up an ambitious plan to develop India's first reusable launch vehicle carrying payloads.
Indian travellers in 'hot pursuit' of luxury
More inclined to seek unique experiences, willing to brave the heat, and explore beyond traditional holiday seasons
HAZE OVER BRIGHT LINE TEST
Why transfer pricing over marketing intangibles has become a contested issue between companies and tax authorities
Of cricket and monetary policy
The June policy will be one of status quo in every way. There will be no change in rate or stance
Small credit business gives itself a hand
As unsecured loan growth ebbs, new ways to serve the segment have emerged, report
Banking channel for financial inclusion feels left out
Business correspondent firms' revenues are under stress as banks get tough with them to meet targets
Unclaimed shares in banks caught in legal limbo
The Banking Regulation Act, 1949, empowers the Reserve Bank of India (RBI) to regulate banks, but many of its provisions do not apply to those owned by the government.
Lack of central KYC hinders market participation
I recently spent an idyllic week trekking with friends in the Dordogne region of southwest France.
