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New gold ETF planned which will hold its backing metal in Asia

ETF Securities is looking to launch a new gold ETF which will hold the gold backing it in secure vaults in Singapore to parallel its similar ETF which holds its gold in Switzerland.

Author: Eric Dutram
Posted: Thursday , 05 Aug 2010

Chicago (ETFdb.com) - 

Independent

New gold ETF planned which will hold its backing metal in Asia

Eric Dutram

ETF Securities is looking to launch a new gold ETF which will hold the gold backing the ETF in secure vaults in Singapore to parallel its similar ETF which holds its gold in Switzerland.

Chicago (ETFdb.com)

One of the newest issuers in the space is ETF Securities; the London-based company is a giant in the European ETF space but a relative newcomer in the U.S. ETFS currently offers four ETFs that individually hold all of the major precious metals, including gold, silver, platinum, and palladium. By far its most popular fund is the ETF Securities Physical Swiss Gold Shares (SGOL), which currently has over $600 million in assets and daily volume well over 100,000 shares. Unlike other physically-backed gold funds, SGOL holds all of its gold in a secure vault in Switzerland; holdings are audited twice a year and the company also publishes the gold bar numbers on its web site, giving investors further peace of mind with regards to the safety of their investments. Thanks to the success of this novel approach, the company has filed with the SEC in order to bring a similar product to market that keeps its bullion in a secure vault in the island nation of Singapore.....

For full article click on Source

 

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