ETF Securities has launched ETFS GBP Daily Hedged Physical Gold on the London Stock Exchange and the ETFS EUR Daily Hedged Physical Gold on the Deutsche Boerse.
These give euro and sterling investors direct exposure to gold, whilst aiming to mitigate the effect of currency volatility through a daily hedging mechanism.
ETF Securities says it plans to make the euro-denominated ETF also available on the Borsa Italiana.
Both products are issued by Jersey-based ETFS Hedged Metal Securities. They are backed by physical metal held in custody by JPMorgan Chase Bank. Morgan Stanley & Co International acts as the swap contract counterparty in respect of the currency hedge.
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