ETF Securities USA says assets under management of the ETFS Silver Trust now exceed USD80m as of 10 August 2009 after experiencing high trading volumes since launch.
ETF Securities USA says assets under management of the ETFS Silver Trust now exceed USD80m as of 10 August 2009 after experiencing high trading volumes since launch.
ETFS Silver Trust began trading on the NYSE Arca on 24 July 2009. ETF Securities believes the inflows seen since inception indicate that investors are becoming increasingly bullish towards silver.
The objective of the newly listed shares is to reflect the performance of the price of silver bullion, less the trust’s operating expenses. The trust is open ended and is designed for investors who want a cost-effective and convenient way to invest in silver as well as diversify their silver holdings.
ETFS Silver Trust’s shares represent interest in physical silver bullion held in a London Bullion Market Association approved secured vault. It was introduced with an expense ratio of 0.30 per cent p.a. until 24 July 2010, capped at maximum of 0.45 per cent thereafter.
William Rhind, head of sales and marketing for ETFS Marketing, says: ‘The launch of ETFS Silver Trust marks an historic landmark for ETF Securities and we’re delighted with the initial investor uptake we’ve seen. Initial inflows indicate to management that SIVR has captured the mood of American investors who are looking to gain exposure to Silver through a cost effective, transparent, physically backed product.’
