Source lists physical gold ETC in EUR on Xetra

Mar 16th, 2012 | By | Category: Commodities

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.

Source lists physical gold ETC in EUR on Xetra

Source has listed its physical gold ETC in EUR on Xetra, complementing the existing London and Swiss listings.

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’.

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