ETF Securities to sell top metals on ASX

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ETF Securities to sell top metals on ASX

Exchange traded commodities (ETCs) group ETF Securities Ltd will offer a range of precious metals securities on the Australian Securities Exchange.

The four new metals securities to be quoted are ETFS Physical Platinum, ETFS Physical Palladium, ETFS Physical Silver, and ETFS Physical PM Basket which will consist of platinum, palladium, silver and gold.

The first dealings in the securities are expected to start on the ASX on Friday, December 19.

"This is the first time that silver, platinum, palladium or a precious metals basket have been made available to Australian investors through ordinary brokerage accounts, which will enable Australian investors to take advantage of a whole new range of investment opportunities," ETF said in a statement on Tuesday.

All the physical precious metal ETCs were backed by allocated metal - uniquely identifiable bars that carried no bank credit risk.

"As a result, physical ETCs save investors from many of the difficulties associated with purchasing precious metals, such as access to physical bars and then having to store and insure those bars," ETF said.

ETF said ETCs offered investors a simple, cost-efficient and secure way to access the precious metals market, and they provided investors with a return equivalent to movements in their spot price less an annual management fee.

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