Source, one of Europe’s leading ETP providers, has announced that its highly popular Source Physical Gold P-ETC has also been listed on Xetra in EUR.
The listing complements the existing listings in USD and GBP on the LSE and SIX Swiss Exchange and provides euro-denominated investors with easy access to one of the fastest growing gold products in Europe.
In 2011, the Source Physical Gold P-ETC raised over $1.2 billion in assets and traded over $4 billion on the LSE. As demand for precious metals has soared, investors seem to have adopted physically-secured ETPs, such as the Source ETC, as their vehicle of choice.
With over $2.3 billion in assets, the Source Physical Gold P-ETC is now among the largest physical gold products globally.
Commenting on the listing, Source CEO Ted Hood said: “Investors look to precious metals as both an investment opportunity and a safe haven. The concept of a physical holding, coupled with the ability to access it in times of crisis, is part of their appeal. It is important that the investment vehicle does not compromise this.”
Source P-ETCs combine the convenience and liquidity of an ETP with the reassurance of physical investment. Each P-ETC is secured by physical metal held in JP Morgan’s London vaults.
Source P-ETCs also offer investors the option for physical delivery of the metal. “The success of our Physical Gold P-ETC shows that investors like our approach,” added Hood.
The Source ETC platform has raised $2.7 billion across 31 products since launch in April 2009 – Source is now the third largest commodity ETC provider in Europe and has approximately $9 billion in total AUM (including ETFs).
The product has an annual Total Expense Ratio (TER) of 0.29% and trades on Xetra under the ’8PSG GR’ ticker. The London and SIX ticker code is ‘SGLD’.