Van Eck Global Investments has cross-listed its two gold mining exchange-traded funds (ETFs) on the SIX Swiss Exchange. The funds are denominated in US Dollars and will be traded in Swiss Francs (CHF).
The Market Vectors Gold Miners UCITS ETF (SIX: GDX) and the Market Vectors Junior Gold Miners UCITS ETF (SIX: GDXJ) started trading in Europe on the London Stock Exchange in April 2015 followed by listings on Deutsche Börse XETRA in May and BATS CHI-X Europe at the beginning of June. Both funds follow the same investment strategies and are based on the same index underlyings as their successful US-listed counterparts which are the largest gold mining ETFs globally. Two months after its initial listing in London, the Market Vectors Gold Miners UCITS ETF is the third-largest gold mining ETF in Europe by assets invested.
“Over 30 per cent of the USD 8 billion invested in our US-listed gold mining funds comes from non-US clients. This strong international client demand for UCITS ETFs and providing investors with flexible product options was the key motivation for our recent fund launches on the London Stock Exchange,” says Lars Hamich, CEO of Van Eck Global Europe. “The cross-listings on Deutsche Börse, BATS CHI-X and now on the SIX Swiss Exchange provide our European clients with extended trading options and trading currencies.”
Alain Picard, Head of Product Management SIX Swiss Exchange, says: “We are pleased to welcome Van Eck Global as new ETF provider. The two ETFs listed on the Swiss Exchange today are a valuable addition to our existing product line and provide investment opportunities in the precious metals sector.”
The Market Vectors Gold Miners UCITS ETF tracks the performance of the NYSE Arca Gold Miners Index (GDMNTR) and provides access to a comprehensive global portfolio of large-, mid- and small-capitalisation companies. Market Vectors Junior Gold Miners UCITS ETF is benchmarked to the Market Vectors Global Junior Gold Miners Index (MVGDXJTR). The index reflects the performance of the global spectrum of micro-, small- and medium-capitalisation or so-called junior mining companies.