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ETFS platinum passes USD500m in AUM


ETF Securities says assets under management of its physically-backed platinum exchange-traded fund are now at USD534m as of 1 April 2010.

Total assets across all four US physically-backed products are now USD1.3bn as of 1 April 2010.

The platinum ETF garnered USD490m during the first quarter of 2010 and traded on average USD101m per week.

Each share of the fund represents one tenth of an ounce of platinum less fees and is the only US product that gives investors exposure to the bullion versus using derivatives.

Fred Jheon, head of product and business development of ETFS Marketing, says: “We are pleased with the growth in asset gathering for the first quarter of 2010. PPLT represents a first of its kind in the US market and offers investors both investment characteristics similar to gold while providing correlation to the industrial cycle. Our precious metal ETFs, including PPLT, represent an effective tool for investors to achieve portfolio diversification and reduce overall risk.”

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