Equinova Mutual Fund
Scheme Information Document (SID)
CIN: U99999MH2020PTC000000 | SEBI Reg. No.: MF/000000
Registered O ice: 10th Floor, Equinova Tower, Bandra Kurla Complex,
Mumbai – 400051
Scheme Name: Nova Silver ETF
Type: Open-Ended ETF replicating/tracking Silver
Table of Contents
1. Disclaimer
2. General Information
3. Highlights / Summary
4. Definitions
5. Risk Factors (1)
6. Risk Factors (2)
7. Risk Mitigation Strategies
8. Requirement of Minimum Investors & AUM
9. Introduction to the Scheme
10. Investment Objective
11. Asset Allocation Pattern
12. Investment Strategy
13. Portfolio Turnover & Internal Norms
14. Fundamental Attributes
15. Benchmark Index Details
16. Fund Manager Info
17. Investment Restrictions
18. Performance of the Scheme (Illustrative)
19. Units & Offer Details (Trading)
20. Units & Offer Details (Creation/Redemption)
21. Fees & Expenses
22. NAV & Valuation Policies
23. Taxation
24. Investor Services
25. Rights of Unitholders
1. Disclaimer
This SID provides key information about
Equinova Silver ETF.
Investors should read it carefully and retain it for
future reference.
Units do not represent deposits and are not
insured.
Mutual Fund units trade on stock exchanges;
market price may fluctuate.
2. General Information
Mutual Fund: Equinova Mutual Fund
Sponsor: Equinova Financial Holdings Pvt. Ltd.
Trustee: Equinova Trustee Company Pvt. Ltd.
AMC: Equinova Asset Management Pvt. Ltd.
Scheme Type: Open-Ended ETF tracking Silver
Face Value: ₹100 per unit
Load Structure: Entry Load – Nil; Exit Load – Nil
3. Highlights / Summary
Investment Objective: Track domestic
Silver price returns
Minimum Investment: 1 unit on the
exchange
Plans/Options: Only Growth option
available
Benchmark: Domestic Price of Silver
Liquidity: Units can be traded on NSE/BSE
4. Definitions
NAV: Net Asset Value per unit
Business Day: Day when financial markets &
commodity exchanges are open
Tracking Error: Di erence between scheme returns &
benchmark
Creation Unit: Fixed number of units (e.g., 50,000) for
Authorised Participants
5. Risk Factors (1)
Mutual Fund investments subject to market
risks
No assurance of returns; past performance not
indicative of future results
Market Price Risk: ETF units may trade at
premium/discount to NAV
6. Risk Factors (2)
Price Risk: Volatility of Silver price
Tracking Error Risk: Scheme may not perfectly
replicate benchmark
Counterparty Risk: Related to parties holding
physical silver
Regulatory Risk: Changes in SEBI or
commodity regulations
7. Risk Mitigation Strategies
Physical Silver Holdings: 92.5%+ of Net Assets
in physical silver
Cost Management: Minimize operational &
transaction costs
Quality Assurance: Silver stored in SEBI-
approved secure vaults
8. Minimum Investors & AUM
Requirement
Minimum 20 investors and ₹20 crore AUM
within 6 months
Scheme may be wound up if requirements
not met
9. Introduction to the Scheme
Provides simple participation in Silver
performance
Invests in physical silver & related
instruments
10. Investment Objective
Generate returns that closely
correspond to domestic Silver price,
before expenses
No guarantee that objective will be
achieved
11. Asset Allocation Pattern
Normal Risk
Asset Class
Range Profile
Physical Silver/Silver-related
90–100% High
Instruments
Debt, Money Market, Liquid
0–10% Low
MF Units
12. Investment Strategy
Passive Tracking: The scheme will hold physical
silver of 999 fineness
Custodian: Silver will be stored with a SEBI-
registered custodian
Debt Holdings: The small portion in
Debt/Money Market Instruments is for liquidity
management and meeting expenses
No Active Management: The scheme does not
take active calls on the price movement of silver
13. Portfolio Turnover & Internal
Norms
Low portfolio turnover
Mainly due to Creation/Redemption &
rebalancing
AMC follows internal quality and storage
risk limits
14. Fundamental Attributes
Open-Ended ETF tracking Silver
Investment objective cannot be changed
without investor approval
Fee changes require 30-day notice
15. Benchmark Index Details
Benchmark: Domestic Silver Price
(LBMA AM Fixing in INR)
Chosen to track domestic Silver price
accurately
16. Fund Manager Info
Mr. Himadri Bera, CFA: 15+ years in
Commodity/Passive strategies
Mr. Imtiaz Ali Khan, MBA (Finance):
12+ years in Fixed Income/ETF cash
management
17. Investment Restrictions
Scheme must comply with all SEBI
regulations for Gold/Silver ETFs,
including holding primarily physical
silver.
No lending to AMC/associate
companies.
No exposure to derivatives (as per
current regulatory requirements for
Silver ETFs)
18. Performance (Illustrative)
Hypothetical Returns back-tested silver
price returns:
o 1-year: 15.8%
o 3-year CAGR: 12.5%
o 5-year CAGR: 9.3%
19. Units & Offer Details (Trading)
Ongoing Sale & Repurchase: Units
bought and sold on the exchange
(NSE/BSE) at the prevailing market
price.
Cut-o Timings (for Exchange
Trading): As per the exchange trading
hours.
Trading Lot: 1 unit.
20. Units & Offer Details
(Creation/Redemption)
Creation/Redemption: Allowed only for
Authorised Participants and large
investors in Creation Unit size directly
with the AMC.
IDCW Policy: Not applicable; all returns
are generally reflected in the NAV
(Growth).
Creation of Segregated Portfolio: Not
applicable for this scheme.
21. Fees & Expenses
TER: Up to 1.00%
Exit Load: Nil
Transaction charges: N/A for exchange-
traded units
22. NAV & Valuation Policies
NAV published on all business days
Silver valued at average closing price
from commodity exchange
Debt/Money Market instruments:
standard valuation
23. Taxation
Taxed as Debt Fund
STCG (Holding≤36 months): As per
income slab
LTCG (Holding>36 months): 20% with
indexation benefit
24. Investor Services
Dedicated Toll-Free helpline: 1800-000-
000
Complaints resolution through SEBI
SCORES portal.
Dematerialized Holding: Units are held
in Demat form and reported via DP
statements.
25. Rights of Unitholders
Right to redemption/sale proceeds
Right to portfolio disclosures twice a
month
Right to vote on fundamental changes
Right to approach SEBI for unresolved
grievances
