Source Physical Gold hits USD2.5bn in assets
Source, an exchange-traded product provider, says its Source Physical Gold P-ETC has crossed USD2.5bn in assets.
As demand for precious metals has continued, investors have increasingly adopted physically-secured ETPs as their vehicle of choice.
The Source Physical Gold P-ETC is now among the largest exchange-traded physical gold products globally, with an annual fee of 0.29 per cent.
In 2011, the Source Physical Gold P-ETC added over USD1.2bn in net new assets and traded over USD4bn on the LSE. So far in 2012, the product has added over USD360m in net new assets and already traded over USD4bn on the LSE, ranking it in the top five ETPs traded on the LSE for the year.
Stefan Garcia, head of commodity ETC sales at Source, says: “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.”
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