Platinum, palladium ETFs shine in US
Monday, 25 January 2010
NEW YORK, Jan 24 (Commodity Online): ETFS Platinum Trust (PPLT) and ETFS Palladium Trust (PALL) have done exceptionally well in the first week of their launch in the US market.
Platinum and palladium ETFs were launched in the US last week with much fanfare and following days witnessed huge investments coming into the platinum ETFs with reports that the metal is set to soar in the coming days.
The Trust is open ended and is designed for investors who want a cost-effective and convenient way to invest in platinum as well as diversify their precious metal holdings.
Both products have an expense ratio of 0.60 per cent per annum. Both these funds are backed by Platinum and Palladium allocated bullion in plate and ingot form stored in secure vaults in London & Switzerland by the Custodian, JPMorgan Chase Bank, NA, one of the world's leading Custodians for precious metals.
Commenting on the first week's trading of the new physical ETFs on NYSE ARCA Fred Jheon, head of product and business development of ETFS Marketing LLC, said, "The first week of trading in PPLT and PALL has been very strong and reflects healthy investor interest. Investors like the physical backed structure and uniqueness of these PGM products to the US market. This has also been ETF Securities most successful launch to date globally."
Platinum and palladium ETFs were launched in the US last week with much fanfare and following days witnessed huge investments coming into the platinum ETFs with reports that the metal is set to soar in the coming days.
The Trust is open ended and is designed for investors who want a cost-effective and convenient way to invest in platinum as well as diversify their precious metal holdings.
Both products have an expense ratio of 0.60 per cent per annum. Both these funds are backed by Platinum and Palladium allocated bullion in plate and ingot form stored in secure vaults in London & Switzerland by the Custodian, JPMorgan Chase Bank, NA, one of the world's leading Custodians for precious metals.
Commenting on the first week's trading of the new physical ETFs on NYSE ARCA Fred Jheon, head of product and business development of ETFS Marketing LLC, said, "The first week of trading in PPLT and PALL has been very strong and reflects healthy investor interest. Investors like the physical backed structure and uniqueness of these PGM products to the US market. This has also been ETF Securities most successful launch to date globally."