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ETF Securities continues team expansion following recent listings and growth of assets
23/01/07
- Legal Counsel and Pricing & Research Analyst join team
- New ETCs break $100m barrier
ETF Securities Ltd (ETFS), the pioneers in Exchange Traded Commodities (ETCs), is continuing to expand their team with the addition of a Legal Counsel and a Pricing and Research Analyst. These appointments are to fulfill the growth in investor demand following ETF Securities' recent listings of a platform of ETC products on the London Stock Exchange, Deutsche Bourse and Euronext Amsterdam - with the total value of the new commodities under management recently breaking the $100m barrier.
Ben Glazewski joins ETFS as Legal Counsel. Ben relocated to London 5 years ago to pursue a career in investment banking and has since worked at Credit Suisse, UBS and more recently as Legal Counsel in the funds team at Barclays Wealth. He holds a Bachelor of Management Studies (BMS) and Bachelor of Laws (LLB) degree from New Zealand and was admitted as a Solicitor of the High Court of New Zealand Bar and the Supreme Court of Victoria, Australia where he practiced as a corporate/commercial solicitor in both jurisdictions.
Chingmin Chiu has also joined ETFS as Pricing and Research Analyst. She recently gained an MSc Finance degree from the Cass Business School in London, having previously worked in retail and institutional sales at Polaris Securities Company, a Taiwanese financial group that launched the first ETF in Taiwan. Chingmin has a Bachelor degree of Economics from National Taipei University in Taiwan.
These appointments are part of the ongoing expansion of the ETFS team, closely following three appointments to the sales team in the run-up to Christmas. ETFS is also currently recruiting across all disciplines and including sales people for the UK, Italy, Germany and France.
ETCs are a secure and transparent investment designed to give investors a total return. They provide investors with a simple and cost-effective way to obtain direct exposure to commodities prices without having to trade futures contracts or take physical delivery of the commodities - which investors were previously unable to do. ETF Securities' listing of the ETCs across Europe has enabled investors to trade an expansive range of commodities in USD and Euros through an ordinary brokerage account in the same way as equities in a way that was previously unavailable.
Commenting on the further growth of the team, Graham Tuckwell, Chairman of ETF Securities, said:
"Following our listings over the last four months of ETCs on the London Stock Exchange, Deutsche Bourse and Euronext Amsterdam, and the resulting significant growth in assets under management, we are continuing to expand the team. Ben and Chingmin's appointments increase further depth to the team following our recent addition of three sales people towards the end of last year. Their experience and contribution to the team will be invaluable."
In September 2006, ETF Securities launched 29 ETCs, comprising of 19 individual securities and 10 index securities, on the London Stock Exchange. This prompted the London Stock Exchange (LSE) to create a new sector, Exchange Traded Commodities. This new trading platform on the LSE deals exclusively in ETCs, with the management of ETF Securities having created all 32 securities (29 new ones and 3 existing ones). These new securities are the first listed products to track a series of sub-indices representing individual commodities, along with commodity groups, that have recently been added to the Dow Jones-AIG Commodity Index family.
Following a high level of investor demand ETF Securities went on to launch similar ETCs on the Deutsche Bourse in November and then the following month on Euronext Amsterdam in December 2006.
ETFS will be holding a conference call for brokers and institutional investors at 3pm (UK time) on Thursday 1st February with Eric Kolts from Dow Jones AIG speaking about the DJ-AIG Commodities Indices. Please email info@etfsecurities.com for dial-in details.
To listen to past conference calls, please contact ETF Securities.
mms://streaming.netsecrets.co.uk/arkadin/15856613122006.wma
This advertisement does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, any transferable securities to be issued by ETFS Commodity Securities Limited or any other securities, nor shall it or any part of it nor the fact of its distribution form part of or be relied on in connection with any contract or investment decision relating thereto. Any offer, invitation or solicitation shall be made solely by means of the prospectus and recipients of this advertisement who are considering a purchase of securities following distribution of the prospectus in connection therewith are reminded that any such purchase should be made solely on the basis of the information contained in such prospectus and any supplementary prospectus(es). This advertisement does not constitute any recommendation regarding the securities of ETFS Commodity Securities Limited.
The communication of this press release is not being made by, and this press release has not been approved by, an authorised person for the purposes of section 21 of the Financial Services and Markets Act 2000 (the "FSMA"). Accordingly this press release is not being distributed to, and must not be passed on to, the general public in the United Kingdom. The communication of this press release or any other document issued in connection with the offer and sale of the ETCs is only being made to and directed at those persons in the United Kingdom falling within the definition of Investment Professionals (as defined in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"), or high net worth entities, and other persons to whom it may otherwise lawfully be communicated, falling within Article 49(1) of the Order or any person to whom it may otherwise lawfully be made (all such persons together being referred to as "relevant persons"). The communication of this press release (or any other document issued in connection with the offer and sale of the ETCs) must not be acted upon or relied upon by persons who are not relevant persons. Persons distributing this press release must satisfy themselves that it is lawful to do so. All applicable provisions of the FSMA must be complied with in respect of anything done in relation to the ETCs in, from or otherwise involving the United Kingdom.
This is not an offer of securities for sale in the United States. Commodity Securities have not been and will not be registered under the USSecurities Act or any other applicable law of the United States. Commodity Securities are being offered and sold only outside the United States to non-US persons in reliance on the exemption from registration provided by Regulation S of the US Securities Act. The Issuer has not been and does not intend to become registered as an investment company under the Investment Company Act and related rules. Commodity Securities and any beneficial interest therein may not be reoffered, resold, pledged or otherwise transferred in the United States or to US persons. If the Issuer determines that any Security Holder is a Prohibited US Person (being a US Person who is not a "qualified purchaser" as defined in the Investment Company Act), the Issuer may redeem the Commodity Securities held by that Security Holder in accordance with the provisions described in the Prospectus. Commodity Securities may not be purchased with plan assets of any "employee benefit plan" within the meaning of section 3(3) of the United States Employee Retirement Income Security Act of 1974, as amended ("ERISA"), any "plan" described in section 4975(e)(1) of the United States Internal Revenue Code of 1986, as amended (the "Code") or any entity whose underlying assets include "plan assets" of any of the foregoing by reason of an employee benefit plan's or other plan's investment in such entity, which employee benefit plan, plan or entity is subject to Title I of ERISA or section 4975 of the Code or any United States Federal, state, or local law or non-United States law that is substantially similar to the prohibited transaction provisions of section 406 of ERISA or section 4975 of the Code (any such employee benefit plan, plan or entity, a "Prohibited Benefit Plan Investor"). If the Issuer determines that any Security Holder is a Prohibited Benefit Plan Investor, the Issuer may redeem the Commodity Securities held by that Security Holder in accordance with the provisions described in the Prospectus."
"Dow Jones," "AIG®" "Dow Jones-AIG Commodity IndexSM," and DJ-AIGCISM" are service marks of Dow Jones & Company, Inc. and American International Group, Inc. ("American International Group"), as the case may be, and will be licensed for use for certain purposes by ETF Securities Ltd. ETCs based on the DJ-AIGCISM or related sub-indices (including single commodity sub-indices) are not sponsored, endorsed, sold or promoted by Dow Jones, AIG Financial Products Corp. ("AIG-FP"), American International Group, or any of their respective subsidiaries or affiliates, and none of Dow Jones, AIG-FP, American International Group, or any of their respective subsidiaries or affiliates, makes any representation regarding the advisability of investing in such product(s).
To obtain a copy of the prospectus please visit the website at www.etfsecurities.com
For further information, please contact:
Claire Burston/Ben Larter
Penrose Financial
Tel: +44 (0) 20 7786 4886/4876
Notes to editors:
ETF Securities Limited has been a pioneer in developing Exchange Traded Commodities (ETCs) - securities which track commodity prices and trade on a stock exchange. The management of ETF Securities launched the world's first ETC (Gold Bullion Securities in Australia) and has since launched both ETFS Oil Securities and Gold Bullion Securities on the London Stock Exchange (LSE). To date these securities have attracted almost US$2 billion in assets.
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