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Products December 2, 2009
ETF Securities Offers Gold- and Silver-Backed Funds
ETF Securities USA LLC's ETFS Physical Swiss Gold Shares (SGOL) began trading on the NYSE ARCA on September 9, and its ETFS Physical Silver Shares (SIVR) began trading on the NYSE ARCA on July 24.
Reported by
Rebecca Moore
The objective of the ETFS Physical Swiss Gold Shares is to reflect the performance of the price of Gold bullion, less the Trust’s operating expenses, and the objective of the ETFS Physical Silver Shares is to reflect the performance of the price of silver bullion, less the Trust’s operating expenses.
Highlights of the new offerings are:
- gold stored in Switzerland: ETFS Physical Swiss Gold Shares will custody all of its physical gold bullion in secure LBMA-approved vaults in Zurich, Switzerland, offering diversification benefits across issuer, custodian, and geographies.
- physically-backed: ETFS Physical Swiss Gold Shares are backed by allocated physical gold bullion that meets London Bullion Market Association (LBMA) “good delivery” standards. ETFS Silver Trust’s shares represent interest in physical silver bullion held in a London Bullion Market Association (LBMA) approved secured vault.
- low cost: ETFS Physical Swiss Gold Shares has an expense ratio of 0.39%. ETFS Silver Trust introduced with an expense ratio of 0.30% p.a. until July 24, 2010, capped at maximum of 0.45% thereafter.
- transparent: Gold bars underlying ETFS Physical Swiss Gold Shares will undergo a bi-annual inspection performed by an independent external auditor.
All gold bar identification numbers and all silver bar numbers are published daily to www.etfsecurities.com.
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