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Products December 3, 2010
ETF Securities Launches White Metals ETF
ETF Securities announced that ETFS Physical White Metals Basket Shares (Ticker: WITE) was introduced on the NYSE Arca today.
Reported by PLANADVISER staff
The objective of the ETFS White Metals Basket Trust shares is to reflect the performance of the price of silver, platinum and palladium. The Trust is open-ended and is designed for investors who want a cost-effective and convenient way to invest in all three precious metals, as well as diversify their existing gold or precious metal holdings.
The product has a gross annual expense ratio of 0.60%.
According to the announcement, the Shares represent beneficial interest in the Trust, which holds physical allocated silver, platinum and palladium bullion held in vaults by the Custodian (JP Morgan Chase Bank).
The new listing comes from the same management team that created ETFS Physical Swiss Gold Shares (SGOL) and ETFS Physical Silver Shares (SIVR) in 2009, as well as ETFS Physical Platinum Shares (PPLT) and ETFS Physical Palladium Shares (PALL) in January 2010, which have combined assets under management of $2.89 billion as of December 1, 2010.