ETF Securities Starts Fund with Silver, Platinum, Palladium
Source: Bloomberg, Yi Tian (12/2/10)
"The White Metals Basket ETF offers investors higher volatility."
The White Metals Basket ETF, listed on the NYSE Arca exchange under the ticker WITE, offers investors "a higher- volatility option than holding just gold or gold-related products," William Rhind, the head of U.S. sales and marketing at EFT Securities in New York, said yesterday on a conference call.
The fund may "appeal to investors looking perhaps for a precious metals play that is more geared to the performance of the economic-growth cycle," Rhind said. ETF Securities, the world’s biggest provider of exchange traded commodity funds, had $24 billion in assets as of yesterday.
The metals will be held in JPMorgan Chase & Co.'s vaults in London and Zurich, said Fred Jheon, the head of product and business development at ETF Securities. The fund is weighted with 55% in silver, 33% in platinum and 12% in palladium.