The UBS SDIC Silver Futures Fund LOF will be valued based on prices in silver futures on major global markets instead of those listed at the Shanghai Futures Exchange, according to statements from UBS SDIC. The change, which came into effect on Monday (Feb 2), led to a record 31.5% drop in the product’s net asset value. Last month’s rally in precious metals came to a halt on Friday when spot silver prices plunged more than 25%. The LOF fund mainly invests in silver futures listed on the Shanghai bourse, which are bound by a 17% daily limit, while global futures markets have no price caps. The adjustment came as silver futures on the Comex tumbled 32.7% in the prior two sessions as a frenzied rally, partly fuelled by Chinese speculators, ground to a halt.

Source: The Edge Markets February 03, 2026 08:25 UTC