FinEx ETF Ltd has launched the first fully regulated gold fund available as an ETF in the European Union, the FinEx Physically Held Gold ETF, which is backed by physically held Gold Bullion in vaults in London.
The Fund tracks the price of gold calculated using the London Gold Fixing Price set in US dollars on each trading day. Shares in the ETF will be available in US dollars and Rouble.
The ETF has been listed on the Irish Stock Exchange and cross-listed on the Moscow Exchange via a passporting mechanism pioneered by FinEx ETF.
Simon Luhr, Managing Partner and CEO, FinEx Capital Management, says: “Our Gold ETF is the first regulated Irish gold fund to list as an ETF. In Russia, cross listed investment products have to be fully regulated, so we have launched this product as an ETF rather than an exchange traded commodity (ETC) or note. Investing in gold via an ETF is a secure and safe way to gain exposure to this commodity, and being backed physically provides reassurance to investors. Our research shows there is substantial appetite among investors for gold now and going forwards. We anticipate significant demand for this product, especially in Russia.”
Evgeny Kovalishin, President and CEO, FinEx Plus, says: “Since we launched on the Moscow Exchange in April we have received many inquiries from market participants and seen tremendous interest for ETFs as an investment tool. During the summer our Eurobond ETF achieved the highest trading volume of any open-ended fund traded on the Exchange. And this is just the beginning. Our aim is to offer a comprehensive range of ETFs giving investors access to all the main asset classes with investment vehicles renowned worldwide for their qualities of value for money, convenience, efficiency and diversification.”