BENEFITS OF I N V E S T I N G IN C O M M O D I T I E S

Aim to Hedge Commodities can act as a hedge against inflation as their prices are highly linked to
against Inflation general price levels in the economy.

Commodities provide diversification to a portfolio as their price movements are less

Diversification correlated to equities

Trading Flexibility Ease of trading through stock exchanges & are highly liquid in nature

Precious commodities enable investors to park their excess funds safely for long
Store of Value periods of time

NO RISK
Risk of Silver has no risk of price reduction due to downgrades as its creditworthiness is not
Downgrade evaluated by rating agencies

The above factors are not exhaustive

2
 VARIED APPLICATIONS OF SILVER

Silver-intensive future that lies ahead

Renewable Energy Jewelry

Industrials & Electronics Investment

Consumption of Silver Renewable Energy Industrials and Electronics Jewellery Investment

Million Ounces (approx.) 101 413.4 181.2 200.5
Value( `. in crs) (approx.) 19,500 79,816 34,985 38,711

The above factors are not exhaustive. Data for the year 2020. Source: Global Newswire, Conversion 1 KG = 35.274 Ounce and 1 KG of Silver
on 31st December 2020 = ` 68,105
3
 WHAT DRIVES VALUE OF SILVER?

ECONOMIC INDUSTRIAL SUPPLY AND INFLATION INTEREST RATES

OUTLOOK OUTPUT DEMAND

During uncertain Silver is widely Supply of silver The silver price Interest rates
times the used in specialist fluctuates in tandem history shows that reduction plays a
investments in electronics, where with demand for in times of role in inflation
silver demand cost allows, as it is other resources such increasing thereby increasing
increases an excellent as copper, gold and inflation, the attractiveness of
conductor of zinc whereas demand commodity silver while
electricity – better, is heavily influenced increases in value. decreasing the
even, than copper. by the industrial attraction of other
manufacturing asset classes
outlook.

The above factors are not exhaustive

4
 IN D U S T R IAL D E M A N D FOR SILVER

Total Demand v/s Industrial Demand Silver Demand by Market Segment (Moz)
350
Total Demand Industrial
1100 540
300

1050 520
250

500 200
1000
480 150
950
100
460
900 50
440
0

Solar PV

Photography

Jewelry
Automotive

All Electrical

Investment
Brazing Materials
Consumer
Power Distribution

Other Industrial
Electronics

Other Electronics
Semiconductor
850 420

800 400
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021F

Industrial Demand for Silver as a proportion of Total Demand Consumption of Silver is highest for electronic mobility and
has increased due to its increasing application in modern appliances indicating increased future demand as more
environmental friendly manufacturing renewable energy and mobility solutions are adopted

Data as on 31st December 2021. Source: Silver Institute and Motilal Oswal.
5
 POTENTIAL HEDGE AGAINST INFLATION

During inflation, the huge demand in precious metal tends to outstrip the supply

200000 8.00
7.50
185000 7.00
6.50
170000 6.00
155000 5.50
5.00
140000 4.50
4.00
125000 3.50
3.00
110000 2.50
2.00
95000 1.50
80000 1.00
0.50
Feb/18

Jun/18

Dec/18

Dec/19

Dec/20
Aug/18

Aug/19

Aug/20

Aug/21
Apr/18

Feb/19

Feb/20

Feb/21
Jun/19

Jun/20

Jun/21
Apr/19

Apr/20

Apr/21
Oct/18

Oct/19

Oct/20

Oct/21
Silver Price Inflation

Source: Edelweiss Research. Past performance may or may not be sustained in future.
6
 GOLD - SILVER RATIO

Gold-Silver ratio : It is the quantity of silver in ounces needed to buy a single ounce of gold. Higher ratios are often
associated with economic recessions, when weaker industrial demand has a greater impact on the silver market and
so the current valuation is more consistent with economic expansion.

Source: Edelweiss Research. Past performance may or may not be sustained in future.
7
 INTRODUCING
THE FIRST SILVER ETF

IN I N D I A
 ABOUT ICICI PRUDENTIAL SILVER ETF

The investment The scheme will invest Unlike holding Physical

objective of the Scheme its proceeds in Silver, an investor can
to generate returns that Physical Silver and benefit from investing
are in line with the silver related in Silver ETFs as it
performance of physical instruments provides more liquidity
silver in domestic prices and less storage costs
as derived from the
LBMA AM fixing prices

The actual allocation shall be as per the SID of the Scheme.

9
 PERFORMANCE OF SILVER

Silver has delivered approx. 63% absolute returns in last ~ 4 years

200000
190000
180000
170000
160000 `.158781
150000
140000
130000
120000
110000
100000
90000
80000
Jun 18

Jun 19

Jun 20
Feb 18

Feb 19

Feb 20

Feb 21

Jun 21
D ec 18

D ec 19

D ec 20

D ec 21
O ct 19

O ct 20

O ct 21
O ct 18
A pr 18

A pr 19

A pr 20

A pr 21

A ug 21
A ug 18

A ug 19

A ug 20
Source: Edelweiss Research. Past performance may or may not be sustained in future.
10
 RESISTANCE OF SILVER

Silver has delivered better returns compared to Nifty 50 TRI,

during last 3 key global events

Crisis Period Silver Nifty 50 TRI

Subprime Mortgage 1st Jan 2008 to 27th Feb 2009 13.08% -54.43%

Taper Tantrum 1st Jan 2013 to 30th Aug 2013 -6.07% -7.15%

Covid-19 19th Feb 2020 to 23rd Mar 2020 -22.62% -37.09%

Source MFIE, Edelweiss. Past performance may or may not be sustained in the future. The Total Return Variant of the Index has been used. The
performance figures pertain to the Index and do not in any manner indicate the returns/performance of the Scheme.

11
WHY IN VEST IN ICICI PRUDENTIAL SILVER ETF?

Silver is a tangible Investor need not worry Investing in silver is prudent

asset. It has a diverse array about purity or quality investment during crisis
of applications.

Act as potential Holding the commodity in Diversifying portfolio with

Hedge against form of ETFs provides the silver can reduce overall
inflation investor higher liquidity portfoilio risk

Majority of silver is Silver ETF enables Silver is used for

consumed and not available investing in silver Solar panels, medical
for recycling. without storage costs instruments, switches,
satellites etc

12
I N V E S T M E N T APPROACH: ICICI PRUDENTIAL SILVER ETF

P R I M ARY MARKE T S E C O N D ARY MARKE T

AM C SELLER

CASH Silver ETF

BUY/SELL
AU T H O R I Z E D N AT I O N AL STOCK
PARTICIPANT E X C H AN G E (NS E )
MARKET M AK I N G / ARBITRAGE

CREATION IN- KIND REDEM PTION IN- KIND

CASH Silver ETF
(PHYSICAL SILVER) (PHYSICALSILVER)

FUND BUYER

13
ICICI PRUDENTIAL SILVER ETF

Type of Scheme An open-ended scheme replicating/tracking Domestic Price of Silver.

Plans/ Options Currently there are no plans/ options under the scheme

NFO Period January 05, 2022 to January 19, 2022

Fund Manager Details Gaurav Chikane

Minimum Application Amount During NFO: Rs. 100/- ( plus in multiple of Re. 1)
During Ongoing Offer Period:
On Stock Exchanges – Investors can buy/ sell units of the scheme in round lot of 1 unit and in multiples there of
Directly with the Mutual Fund – Authorized Participant(s)/ Investor(s) can buy/ sell units of the scheme in
Creation Unit Size viz. 30,000 units and in multiples there of

Exit Load Nil

Benchmark Index Domestic price of silver as derived from the LBMA prices.

MICR Cheques/ RTGS and MICR cheques will be accepted till the end of business hours upto January 14, 2022
Transfer Cheques Transfer cheques and Real Time Gross Settlement (RTGS) request will be accepted till the end of
business hours upto January 19, 2022

Switches Not Applicable

Liquidity Units are listed on Stock Exchange

14
RISKOMETER

SCHEME RISKOMETER
ICICI PRUDENTIAL SILVER ETF
(An open-ended scheme replicating/tracking Domestic Price of Silver):*

 Investment returns that closely track domestic prices of Silver, subject to tracking
error.
 Aiming for diversification of investment portfolio.

*Investors should consult their financial advisers if in doubt about whether the Investors understand that their
product is suitable for them. principal will be at Moderately High
risk

The Product labeling assigned during the NFO is based on internal assessment of the scheme characteristics or model portfolio and the
same may vary post NFO when actual investments are made.

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Disclaimer: All figures and data given in the document are dated unless stated otherwise. In the preparation of the material contained in this document, the AMC has used information that is publicly available, including
information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the AMC and/or its affiliates and which may have been made available to the AMC
and/or to its affiliates. Information gathered and material used in this document is believed to be from reliable sources. The AMC however does not warrant the accuracy, reasonableness and / or completeness of any
information. We have included statements / opinions / recommendations in this document, which contain words, or phrases such as “will”, “expect”, “should”, “believe” and similar expressions or variations of such
expressions, that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties associated with our expectations with respect
to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our services and / or investments, the monetary and interest policies
of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices etc.
The AMC (including its affiliates), the Mutual Fund, the trust and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect,
punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any decision taken on this
material. Investors are advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequence of subscribing to the units of ICICI Prudential Mutual
Fund.
ICICI ETF is part of ICICI Prudential Mutual Fund and is used for exchange traded funds managed by ICICI Prudential Asset Management Company Limited.
Riskometer as on 30th November 2021
15
DISCLAIMERS

Mutual Fund investments are subject to market risks, read all scheme related documents carefully.
Disclaimer: All figures and data given in the document are dated unless stated otherwise. In the preparation of the material contained in this document, the AMC has used information that is publicly available,
including information developed in-house. Some of the material used in the document may have been obtained from members/persons other than the AMC and/or its affiliates and which may have been made
available to the AMC and/or to its affiliates. Information gathered and material used in this document is believed to be from reliable sources. The AMC however does not warrant the accuracy, reasonableness and
/ or completeness of any information. We have included statements / opinions / recommendations in this document, which contain words, or phrases such as “will”, “expect”, “should”, “believe” and similar
expressions or variations of such expressions, that are “forward looking statements”. Actual results may differ materially from those suggested by the forward looking statements due to risk or uncertainties
associated with our expectations with respect to, but not limited to, exposure to market risks, general economic and political conditions in India and other countries globally, which have an impact on our services
and / or investments, the monetary and interest policies of India, inflation, deflation, unanticipated turbulence in interest rates, foreign exchange rates, equity prices or other rates or prices etc.

The AMC (including its affiliates), the Mutual Fund, the trust and any of its officers, directors, personnel and employees, shall not liable for any loss, damage of any nature, including but not limited to direct, indirect,
punitive, special, exemplary, consequential, as also any loss of profit in any way arising from the use of this material in any manner. The recipient alone shall be fully responsible/are liable for any decision taken on
this material. Investors are advised to consult their own legal, tax and financial advisors to determine possible tax, legal and other financial implication or consequence of subscribing to the units of ICICI Prudential
Mutual Fund.

Disclaimer of National Stock Exchange of India Limited: “As required, a copy of this Scheme Information Document has been submitted to National Stock Exchange of India Limited (hereinafter referred to as NSE).
NSE has given vide its letter NSE/LIST/5280 dated March 04, 2021 permission to the Mutual Fund to use the Exchange's name in this Scheme Information Document as one of the stock exchanges on which the
Mutual Fund's units are proposed to be listed subject to, the Mutual Fund fulfilling various criteria for listing. The Exchange has scrutinized this Scheme Information Document for its limited internal purpose of
deciding on the matter of granting the aforesaid permission to the Mutual Fund. It is to be distinctly understood that the aforesaid permission given by NSE should not in any way be deemed or construed that the
Scheme Information Document has been cleared or approved by NSE; nor does it in any manner warrant, certify or endorse the correctness or completeness of any of the contents of this Scheme Information
Document; nor does it warrant that the Mutual Fund's units will be listed or will continue to be listed on the Exchange; nor does it take any responsibility for the financial or other soundness of the Mutual Fund, its
sponsors, its management or any scheme of the Mutual Fund. Every person who desires to apply for or otherwise acquire any units of the Mutual Fund may do so pursuant to independent inquiry, investigation and
analysis and shall not have any claim against the Exchange whatsoever by reason of any loss which may be suffered by such person consequent to or in connection with such subscription /acquisition whether by
reason of anything stated or omitted to be stated herein or any other reason whatsoever.”

Disclaimer of BSE Limited: It is to be distinctly understood that the permission given by BSE Limited should not in any way be deemed or construed that the SID has been cleared or approved by BSE Limited nor
does it certify the correctness or completeness of any of the contents of the SID. The investors are advised to refer to the SID for the full text of the Disclaimer clause of the BSE Limited”

16