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ETF Securities assets surge past the $1.7billion mark
05/10/07
- Strong growth of AUM due to new products in physical precious metals and longer dated oil ETCs
- 2 key new hires to the product development and research team
The global pioneer in exchange traded commodities (ETCs), ETF Securities (ETFS), today announced that their range of exchange traded commodities have attracted more than $1.7 billion in investment. The majority of the growth has been invested since the start of the year.
ETFS pushed through the $1.7 billion milestone in assets under management following the recent listing of six new oil ETCs on the London Stock Exchange in the ETC segment. These new ETCs now offer investors for the first time ever, the opportunity to gain direct and simple exposure to one, two and three year oil futures prices in the Brent and WTI oil benchmarks. Investors now have access to an entire platform of oil ETCs - 9 oil ETCs tracking 4 different maturities and 2 different types of oil.
The demand for new ETCs is a result of significant investor interest in commodities and increased knowledge about commodities investing. Substantial demand from investors for more choice to different commodities and different parts of commodity futures curves has led ETF Securities to create new products, allowing investors to implement different investment strategies in commodities.
Due to the growth of the business ETF Securities are continuing to expand their Product Development and Research function with the recent key appointments of Danny Laidler as Senior Product Specialist and Edith Southammakosane as Research Analyst.
Danny worked in the financial services industry for 8 years, of which 7 years have been spent in Product Development for JPMorgan Fleming, F&C, Threadneedle and BGI. Danny has worked as a Product Development Manager for fund platforms in the UK, Jersey, Luxembourg, the Channel Islands and Dublin, which included playing a key role in launching a platform of UCITS III ETFs. Danny has a Brunel Bachelor of the Arts Honours Degree in Business Administration.
Edith worked as an intern for Lyxor Asset Management marketing team in 2006 and for BNP Paribas Arbitrage back office in 2005. She graduated from EDHEC Business School, with a Master in Management, major in Risk and Asset Management in 2007.
Commenting on today's announcement Graham Tuckwell, Chairman ETF Securities, said:
"ETFS are the innovators of ETCs and continue to be a world leader of ETCs. As at October 2007, ETF Securities has over 50 ETCs listed on 5 exchanges with over $1.7 billion in assets which shows our success in bringing a ground-breaking range of commodities to European investors.
The speed at which our assets under management are growing says a lot about investor's appetite for simple access to commodities. Investors have responded to our products and we will continue to bring innovation to the market place to meet this demand.
"There has been a surge in global demand for natural resources and this has acted as a catalyst for our expansion in assets under management. The growth in assets confirms each exchange's commitment to ETCs with the launch of dedicated ETC platforms in each country. We now have over 50 different ETCs available on 5 of Europe's major exchanges offering a wide range of investment trading opportunities in the commodities sector for investors."
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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