Sprott Asset Management LP announces the launch of the Sprott Gold Miners Exchange Traded Fund on the New York Stock Exchange (NYSE: SGDM). The ETF was created in partnership with ALPS Advisors Inc. and Zacks Index Services. ..
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The goal of the ETF is to provide exposure to the Sprott Zacks Gold Miners Index (NYSE: ZAXSGDM), which seeks to outperform a purely passive, market-capitalization representation of gold stocks. The Index methodology is factor-based and was developed by leveraging Sprott’s long-time experience as a gold investor and Zacks’
research capabilities.
“The market is ready for an innovative new way to gain exposure to gold stocks,” said John Ciampaglia, Chief Operating Officer of Sprott. “To our knowledge, the Sprott Gold Miners ETF is the first gold equities ETF to be based on a proprietary, factors-based index strategy.”
“We have a strong distribution relationship in the United States with ALPS and look forward to working closely with them to introduce the Sprott Gold Miners ETF to investors,” added Mr. Ciampaglia.
“At Sprott, we are committed to developing innovative new products in areas where we can provide value through our expertise and experience,” said John Wilson, CEO of
Sprott. “Along with our three Sprott Physical Bullion Trusts, this latest offering now gives us four NYSE-listed investment funds that are easily accessible to investors.”
The Index aims to track the performance of large to mid-capitalization publically traded gold companies that are listed on major U.S. exchanges. The Index uses a transparent, rules-based methodology that is designed to identify 25 gold stocks with the highest historical beta to the spot price of gold, with each stock’s weighting in the Index adjusted based on its quarterly revenue growth on a year-over-year basis and the quality of its balance sheet, as measured by long-term debt to equity. The Index is rebalanced on a quarterly basis to incorporate the latest financial data into the screening process. The Index can also invest to a lesser degree in silver companies that meet the above criteria.
Source: ETFWorld.com
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