*ICICI Prudential launches first silver ETF fund of fund Mumbai, Jan 6 (PTI) ICICI Prudential has announced the launch of country’s first silver ETF fund of fund, which is an open-ended fund, offering a good mix of all asset classes.
The fund will open on January 13 and closes on January 27.
The fund house said it was the first to launch a silver ETF in the country and has now launched the first silver ETF FoF–ICICI Prudential Silver ETF fund of fund.
Since silver is bulky in nature and hence difficult to store, we believe the fund form will be one of the preferred ways for investors.
By investing in this fund, investors need not worry about purity, quality or liquidity of the underlying asset and is also free from storage related hassles. Given its low correlation with other asset classes, investors can consider taking exposure to silver as a part of their portfolio diversification exercise, the AMC said.
*** *IIFL Finance appoints Richa Chatterjee as president,HR head Non-banking lender IIFL Finance has appointed Richa Sachdeva Chatterjee as its president and chief human resources officer.
Chatterjee was previously the HR head at Network18’s digital, print and publishing businesses, preceded by senior roles at Viacom18, the Boston Consulting Group and Tata Motors, the company said in a statement.
IIFL Finance employs nearly 24,000 people across its 2,914 branches having hired over 4,000 in the first six months of the current financial year.
*** *BPCL to jointly develop bio-reactor for bio-gas production with CSIR Bharat Petroleum Corporation has joined hands with CSIR-Indian Institute of Chemical Technology (CSIR-IICT) to develop a bio-reactor design to maximize bio-methane production for compressed bio-gas made from agricultural waste residues, such as wheat straw, rice straw, sugarcane bagasse etc.
The CSIR-IICT has developed a large-scale bio-reactor based on vegetable waste which is operational in Hyderabad.
With a focus on sustainable solutions, the company is developing a vibrant ecosystem and a road-map to become a net zero energy company by 2040. PTI BEN RUJ RUJ
