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BNY Mellon chosen for ETF Securities physical Swiss gold shares

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BNY Mellon Asset Servicing has been selected by ETF Securities to provide exchange-traded funds services for the ETF Securities Physical Swiss Gold Shares, which has been designed to reflect the price of gold bullion.

The services include trustee services, fund accounting, fund administration, ETF services and transfer agency.

“We are pleased to expand our relationship with ETF Securities, which currently utilizes our asset servicing capabilities for derivatives-based funds that are distributed in Europe,” says Joseph Keenan, managing director and head of relationship management for BNY Mellon Asset Servicing. “The new gold-backed fund demonstrates the increasing diversification that investors can achieve through ETFs.”

“BNY Mellon has an excellent reputation for providing customized services for commodity-based exchange-traded products,” says Fred Jheon, head of product and business development for ETFS Marketing. “Based on our existing relationship in Europe, we are confident that BNY Mellon will be an excellent partner in the US on our new physically-backed precious metal products. Our new offering, SGOL, has been constructed to provide investors with a low-cost and convenient way to gain exposure to physical gold held in fortified vaults in Switzerland, and we are confident that BNY Mellon has the capabilities to support this type of product.”

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