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Standard Bank to launch three new precious metals ETFs

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Standard Bank is planning to launch three new precious metals exchange-traded funds on the Johannesburg Stock Exchange (JSE), including South Africa’s first physically-backed palladium ETF.

The palladium fund will launch first on 24 March, followed by gold and platinum offerings on 7 April.
 
Each security in the palladium fund will be backed by 1/100 of an ounce of the metal giving investors exposure to the underlying asset price without having to arrange storage or insurance.
 
All of the metal backing the three new funds will be sourced in South Africa meaning that the securities of the ETFs will qualify as domestic investments. Standard Bank believes this will appeal to South African funds which are only allowed to invest a maximum of 35 per cent of their total assets overseas.
 
"Palladium is one of the metals which is known to be produced here, and which is known to investors," says Johann Erasmus, head of the executive global structuring group at Standard Bank. "We believe there's a lot of excitement that investors can now access the metal directly." 

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