ETF Securities announced that ETFS Physical Asian Gold Shares will list on the NYSE Arca on January 14, 2011, trading under the ticker AGOL “Asian Gold”. AGOL is the first U.S. precious metals product to be vaulted in Asia and will be held in Singapore, the gateway to Asia….
Key highlights of ETFS Asian Gold (AGOL):
- Allocated Gold Stored in Singapore: ETFS Physical Asian Gold Shares (AGOL) will custody all of its physical gold bars in secure LBMA approved vaults in Singapore.
- Gold Physically Backed: ETFS Physical Asian Gold Shares (AGOL) are backed by London Bullion Market Association (LBMA) gold bars that meet “good delivery” standards.
- Diversification: Investors can diversify their gold holdings either into Asia using AGOL or Switzerland using the existing SGOL. Both ETPs are offered at 0.39% per annum. (3)
- Transparency– Gold bars underlying AGOL will be audited bi-annually by an independent third party auditor.
- Breadth of Precious Metal ETPs – ETF Securities now offers seven precious metal ETPs with a variety of single and basket precious metal ETPs. (5)
ETFS Physical Asian Gold Shares (AGOL):
The objective of the ETFS Physical Asian Gold Shares (AGOL) is to reflect the price performance of physical gold, less Trust expenses. The Trust is open ended and is designed for investors who want a cost-effective (1) and convenient (2) way to invest in or diversify their existing gold holdings. AGOL has an expense ratio of 0.39% per annum. (3)
ETFS Physical Asian Gold Shares represent a direct interest in physical gold bullion held in vaults located in Singapore by the Custodian (JP Morgan Chase Bank). All physical bullion held with JP Morgan Chase Bank conforms to the London Bullion Market Association’s (LBMA)(4) rules for Good Delivery.
Commenting on the new listing of the ETFS Physical Asian Gold Shares on NYSE ARCA, Fred Jheon, Head of Product and Business Development of ETFS Marketing LLC, said:
“We are pleased to introduce the first physically backed Asian Gold ETP in the US. AGOL offers investors a new alternative to invest in the gold market and diversify their physical gold holdings into Singapore. The launch of AGOL further broadens ETF Securities product lineup and demonstrates our commitment to developing innovative precious metal ETPs.”
(1) The Sponsor expects that, for many investors, costs associated with buying and selling the Shares in the secondary market and the payment of the Trusts ongoing expenses will be lower than the costs associated with buying, selling, storing and insuring Gold bullion in a traditional allocated Gold bullion account.
(2) The Shares will trade on the NYSE Arca and will provide institutional and retail investors with indirect access to the Gold bullion market.
(3) Ordinary brokerage fees do apply.
(4) The LBMA Good Delivery list represents the de facto standard for the quality of gold bars. Stringent criteria for assaying standards and specifications for weight, dimensions, fineness/purity that identify and validate marks and appearance of the bars must be met to qualify as being London Good Delivery bar.
(5) Single physical precious metal ETPs are Asian Gold (AGOL), Swiss Gold (SGOL), Silver (SIVR), Platinum (PPLT) and Palladium (PALL). Basket precious metal ETPs are Precious Metals Basket (GLTR) and White Metal Basket (WITE).
Source:ETFWorld – ETFSecurities
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