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Finex launches regulated gold fund ETF
17 October 2013
European first for cross-listed gold ETF
FinEx ETF has launched Europe's first fully-regulated gold
exchange trade fund (ETF).
The FinEx Physically Held Gold ETF, which is backed by
physically held Gold Bullion in vaults in London, tracks gold
prices on the London Gold Fixing Price. Shares in the ETF will
be available in both US dollars and rouble. It is listed on
both the Irish Stock Exchange and Moscow Exchange, via a
Simon Luhr, managing partner and CEO, FinEx Capital Management,
said: "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."
FinEx also revealed research that showed institutional
investors are bullish over the outlook for gold, with 42%
believing the price of gold will increase over the next one to
three years - including 4% who believe the price of gold will
see a dramatic rise. FinEx found only 14.5% of institutional
investors anticipated that the commodity would fall in
The survey found the major drivers behind the confidence of a
rising gold price were the risk of another financial shock,
which 41% said was a 'significant' or 'very significant'
factor, and geopolitical uncertainty, which 38.5% said
was 'significant' or 'very significant'.
FinEx also found that nearly half (49%) of institutional
investors felt ETFs and ETPs were the most suitable investment
vehicle for investing in gold, with 53% of institutional
investors saying that ETFs/ETPs offered cost efficiency
benefits for gold investments, followed by liquidity (38%) and