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Wednesday, September 09, 2009|
A London ETF Provider Smells a Golden Opportunity in the U.S.
In the Wednesday edition of the Wall Street Journal Fund Track column, Carolyn Cui picks up on the launch of ETFS Physical Swiss Gold Shares. The new offering, from London-based ETF Securities, is the third gold ETF to hit the US market, joining the World Gold Council's $34.7 billion SPDR Gold Shares and Barclays Global Investors' $2.4 billion iShares Comex.
The launch comes amid skyrocketing gold prices. On Tuesday, gold prices shot up to a six-month high, then closed at $997.90 a troy ounce.
ETFS Physical Swiss Gold Shares sports an expense ratio of 39 basis points, compared with 40 bps for its two rivals.
The ETF's launch on Wednesday comes on the heels of ETF Securities' July rollout of a silver-backed ETF, which now has more than $130 million of assets.
Printed from: MFWire.com/story.asp?s=22542
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