ETF Securities fund upgraded by Zenith
ETF Securities has announced that its ETFS Physical Gold (GOLD) fund has been upgraded by research house, Zenith Investments Partners, to “recommended” due to the fund’s uniqueness.
Zenith praised the fund for the fact that its assets were physically backed by gold bullion while its currency exposure remained unhedged.
Zenith also believed that GOLD provided a “true to label” exposure to gold with the liquidity of an ASX listing.
GOLD was designed to deliver a return equivalent to the movements in the gold spot price before management costs, the firm said.
Following this, each unit provided investors with an attached entitlement to the relevant amount of physical bullion, which was held in a separate trust in the London vault of fund’s custodian, HSBC.
ETF Securities’ chief executive, Kris Walesby, described the upgrade as a “further solid recognition” for one of the firm’s flagship products.
“GOLD is a simple and low-cost way of owning and trading physical gold,” Walesby said.
“And the precious metal should be a fundamental element of any properly diversified investment portfolio.
“As Zenith points out, this is an efficient way to gain that exposure without any related transport, storage or insurance costs.”
AUTHOR
Oksana Patron
Recommended for you
The $673 billion global investment manager has appointed a former Zenith sales head as it seeks to expand its reach in the Australian wealth management market.
Fund managers may be operating in a squeezed environment, but a salary guide shows they are willing to pay up for specialist talent to diversify their fund range.
Reach Alternative Investments has entered into a strategic partnership with Russell Investments to bolster its wholesale private markets offering for financial advisers and investors.
Boutique investment consulting and research house Genium Investment Partners has announced a senior appointment to drive further growth in its research ratings business.
