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FinEx ETF, the exchange-traded funds business of international investment manager FinEx Group, has announced the listing of the FinEx Physically Held Gold ETF (FXGD) on the NYSE Euronext in Amsterdam.
The ETF, which holds physical gold bullion bars in vaults in London, tracks the price of gold calculated using the London gold fixing price set in US dollars on each trading day.
Shares in the ETF are available in euros.
The ETF has already 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, said: “We are pleased to announce the launch of our gold ETF on NYSE Euronext, an exchange which we believe is set to grow in importance as the ETF market in Europe increases in size and strength.”
He added: “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.”
Indeed, new research from FinEx shows that 42% of institutional investors believe that the price of gold will increase over the next one to three years, including 4% who anticipate a dramatic rise. Only 14.5% anticipate a fall in value.
The research reveals that institutional investors believe the two main drivers of a rise in the value of gold will be fear of another financial shock (41% describing this factor as ‘very significant’ or ‘significant’), and geopolitical uncertainty (38.5% describe this factor as ‘very significant’ or ‘significant’).
The research also confirms that ETFs/ETPs are the most popular vehicle for investing in gold. Nearly half (49%) of institutional investors said that ETFs/ETPs were their ‘investment vehicle of choice’ for investing in gold versus 16.5% for pooled gold accounts, 4.1% for un-hedged gold stocks and just 1.0% for both bullion and futures.
Some 53% of institutional investors said that cost efficiency was a benefit offered by ETFs/ETPs when investing in gold, followed by liquidity (38% said this) and transparency (22%).
The fund has a total expense ratio (TER) of 0.45%.