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ETF Securities sees prolific growth in assets under
management in Germany and Austria
01/08/07
- Total assets under management for Germany and Austria exceed
€110/US$150m in 9 months
- Dedicated Sales Team for Germany and Austria
- Strong secondary trading volumes on exchange
ETF Securities Ltd (ETFS), the global pioneers in Exchange Traded Commodities
(ETCs), has seen growth in assets under management in Germany and Austria
exceed €110m/US$150m in 9 months. This comes as a direct result of ETF
Securities’ successful listing of its ETC platform on the Deutsche Börse in
November 2006, and most recently, the launch of a range of physically-backed
precious metals ETCs on the Deutsche Börse in May this year. The physicallybacked
precious metals ETCs have been very popular with investors, especially
private banks, as they are simple to understand and track the metal spot price
less fees.
ETF Securities has also expanded its European sales team with the appointment
of Tim Harvey and Michael Geister as dedicated representatives covering the
German and Austrian markets – the recent appointment of Michael strengthens
ETF Securities’ commitment to the region. Michael will focus on banks and online
brokers, and brings an in-depth knowledge in the German securities market. He
has been involved in the securities industry for over four years, having worked
within Societe Generale Corporate & Investment Banking in Paris, London and
Frankfurt. Michael holds a degree in Business Administration from the University
of Wismar.
ETF Securities recognises the vast opportunities in the German and Austrian
marketplace, as Germany is currently the largest ETF market in Europe, and
alone accounts for approx. 50% of market share. Additionally, the German
market is currently experiencing strong secondary trading on-exchange volumes
as more local market makers and brokers learn about the benefits of the
products. ETF Securities will continue to educate and increase awareness of its
36 ETCs to the regional investor community.
ETCs are relatively new investment tools which enable investors to gain exposure
to commodity prices without trading futures or taking physical delivery. They are
designed to offer investors a simple, cost-efficient and secure way to access the
commodities markets. ETCs provide investors with a return equivalent to
movements in commodities prices less a small management fee which accrues
daily.
Similar to Exchange Traded Funds, ETCs are open-ended securities which can be
created or redeemed on demand by Authorised Participants or market makers -
currently, these include Flow Traders, Nyenburgh, Susquehanna, Morgan Stanley
& Co, Barclays Capital, UBS, ABN Amro, HVB, HSBC, Merrill Lynch, Citigroup,
Winterflood, JP Morgan, Banca IMI, and Bear Stearns. Investors can buy and sell
ETCs through regulated brokers or approved market makers. ETCs can be traded
with all the same order types available to equities, including market, limit and
stop orders. They can also be shorted through stock borrowing and/or CFDs.
Commenting on Germany and Austria exceeding US$150m in 9 months ,
Graham Tuckwell, Chairman of ETF Securities, said:
“Following our listings of ETCs on the Deutsche Börse in November 2006, and
recently the range of physically-backed precious metals, we have seen a
significant amount of money invested into these products in Germany and
Austria. Germany and Austria are key focus markets for our company hence the
dedicated sales team of Tim Harvey and Micheal Geister to educate and increase
awareness of these products to the Investor community.”
For further information, please contact:
Roman Townsend / John Kelly
Penrose Financial
Tel: +44 (0) 20 7786 4875 / 4821
Notes to editors:
The management of ETF Securities Limited pioneered the development of
Exchange Traded Commodities (ETCs), with the world’s first listing of an ETC,
Gold Bullion Securities in Australia and London in 2003 and then the world’s first
entire ETC platform which was listed on the London Stock Exchange in September
2006. Since then, ETF Securities has listed its entire range of ETCs on Europe’s
major exchanges (Frankfurt, Paris, Amsterdam and Italy) with each exchange
creating a separate ETC segment.
To learn more about ETF Securities go to: www.etfsecurities.com
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 US Securities 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
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