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ETF Securities acquires Gold Bullion Securities ETFs listed in London and Australia


Gold Bullion Holdings has agreed to sell to ETF Securities management and control of its Gold Bullion Securities products, the Lyxor Gold Bullion Securities product listed on the London St

Gold Bullion Holdings has agreed to sell to ETF Securities management and control of its Gold Bullion Securities products, the Lyxor Gold Bullion Securities product listed on the London Stock Exchange, Euronext Paris, Borsa Italiana and Deutsche Börse, and the Australian-listed Gold Bullion Securities product.

Under the agreement, the two products will be marketed with the ETFS suite of exchange-traded commodities and renamed ETFS Gold Bullion Securities. As of June 25 holdings in the European product totalled USD3.3bn or 115 tonnes of gold, while the Australian product accounted for USD300m or 11 tonnes.

‘The acquisition of these two gold ETCs demonstrates our commitment to be the leading provider of exchange-traded commodities,’ says ETF Securities chairman Graham Tuckwell. ‘These products will fit well within our commodities platform and will be part of an expanded marketing effort for gold products in particular.’

James Burton, chief executive of the World Gold Council, the majority owner of Gold Bullion Holdings, says: ‘As the world’s first two gold ETFs, the Gold Bullion Securities products have played an instrumental role in the development of the allocated, physically-backed, gold ETF market, which now represents more than 780 tonnes of global gold demand.’

The World Gold Council is a marketing organisation funded by the world’s leading gold mining companies and aims to promote demand for gold in all its forms through marketing activities in major international markets.

The council will continue to support ETF Securities in the marketing of gold as part of its remit to promote investment demand for gold. Burton adds: ‘This development will help us consolidate our efforts through the exchange-traded gold programme to launch and promote further gold ETF products around the world.’

The deal is subject to regulatory approval but the parties expect it to be completed very soon. The European securities are currently marketed by Lyxor, with whom the parties have started discussions on arrangements for marketing and branding to be changed to ETF Securities.

Since the launch of the Gold Bullion Securities ETFs some five years ago, most of the original management team and directors have gone on to establish ETF Securities, which is now the leading ETC provider in Europe, with more than 120 products listed on five exchanges and more than USD6bn in assets.

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