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ETF Securities Reach Another Milestone as Assets Break $750M Following Recent Successful Listings
03/05/07
- Further team expansion with appointment of Head of Sales for UK and Ireland
- Winner 'Most Innovative ETF Hybrid Product' at last week's Global ETF Awards
ETF Securities Ltd (ETFS), the pioneers in Exchange Traded Commodities (ETCs), is further consolidating its position as market leader, following its recent listings of precious metals on the LSE and 31 ETCs on the Borsa Italiana, by breaking through US$750m of assets under management. The increase in assets coincides with the further expansion of the team and winning a leading industry award.
ETF Securities' assets under management as of 1 May 2007 have pushed through the US$750 million mark. This comes on the back of the London Stock Exchange listing of an entire (physically-backed) precious metals platform on 24th April 2007. This innovative listing marked the first time platinum, palladium and a precious metals basket had been available to investors through ordinary brokerage accounts. Alongside platinum and palladium, ETF Securities also listed silver (for the first time outside the US) and gold ETCs. Demand for these new ETCs has been strong: trading in the platinum and basket security finished in the top three ETCs each day last week and a total of $22 million of precious metals traded over the first five days.
The listing of 5 new physically backed ETCs comes 6 months after ETF Securities listed a silver, gold and precious metal ETC as part of an entire platform of 29 ETCs, all based on DJ-AIG Commodity IndicesSM. These 29 ETCs have accumulated $550 million in assets with approximately 28% attributable to gold, silver and precious metals, highlighting the demand by investors for access to new asset classes.
This strong growth has led ETF Securities to expand its sales team further with the appointment of William Rhind as Head of UK and Irish sales. William brings with him a wealth of knowledge in the sales arena within the financial securities sector. He previously spent 5 years at Barclays Global Investors in London where he helped establish and build the largest Exchange Traded Fund (ETF) franchise in Europe. Prior to this, William was an investment banking graduate at Nomura International in London.
Coinciding with the growth in assets, ETF Securities recently won its 3rd award for its leadership and innovative range of Exchange Traded Commodities. Last week, ETF Securities was awarded the 'Most Innovative ETF Hybrid Product for Europe 2006' at the 3rd Annual Global ETF Awards in New York, as voted by readers of www.exchangetradedfunds.com.
Commenting on the increase in assets, further growth of the team and being awarded 'Most Innovative ETF Hybrid Product for Europe 2006' , Graham Tuckwell, Chairman of ETF Securities, said:
"Following our ETC listings over the last six months on the London Stock Exchange, Deutsche Bourse, Euronext Amsterdam, Euronext Paris, and Borsa Italiana, and our recent precious metal listings on the London Stock Exchange, we have seen significant growth in assets under management to break through $750m. The growth in assets confirms each exchange's commitment to ETCs with the launch of dedicated ETC platforms in each country."
"The sales team has increased threefold in the past 6 months. With our latest addition, William Rhind's sales experience and knowledge of exchange traded funds will be an invaluable asset to the team as we seek to continue our successful growth into new asset classes and products.
"We are also excited to have been awarded the 'Most Innovative ETF Hybrid Product for Europe 2006' at last week's Global ETF Awards. This reflects the hard work we have put into the company since its beginnings in 2002."
For further information please contact:
Claire Burston / John Kelly
Penrose Financial
Tel: +44 (0) 20 7786 4886/4821
- Notes to editors -
To obtain a copy of the relevant prospectus please visit the website at www.etfsecurities.com
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. ETCs listed by the management of ETF Securities (including Gold Bullion Securities which is part owned by the World Gold Council) now exceed US$2.95 billion.
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 US dollars and Euros through an ordinary brokerage account in the same way as equities, in a way that was previously unavailable.
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 (the "Securities") to be issued by subsidiaries of ETF 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 relevant prospectus and recipients of this advertisement who are considering a purchase of Securities following distribution of the relevant 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.
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. The Securities have not been and will not be registered under the US Securities Act or any other applicable law of the United States. The 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 or in transactions exempt from the registration requirements of the Securities Act. The Issuers have not been and do not intend to become registered as an investment company under the Investment Company Act and related rules. If the Issuers determine 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 Issuers may redeem the Securities held by that Security Holder in accordance with the provisions described in the relevant Prospectus. The 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 Issuers determine that any Security Holder is a Prohibited Benefit Plan Investor, the Issuers may redeem the Securities held by that Security Holder in accordance with the provisions described in the relevant Prospectus."
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