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The fund invests exclusively in physical gold, mainly standard bars of 400 ounces or about 12.5 kilos, that are stored in high-security vaults in Switzerland.
Other gold exposure, for example through derivatives or metal accounts, is not allowed. "Our clients want to invest into a safe haven that has no counterparty or balance sheet risk," said Stephen Mueller, from the physical gold team of Julius Baer.
"We are creating a pure gold investment fund with no risk in the balance sheet." The fund will be listed on the SWX Swiss Exchange. Redemption in kind is possible.
http://www.reuters.com/article/rbssF...57435220081020
Other gold exposure, for example through derivatives or metal accounts, is not allowed. "Our clients want to invest into a safe haven that has no counterparty or balance sheet risk," said Stephen Mueller, from the physical gold team of Julius Baer.
"We are creating a pure gold investment fund with no risk in the balance sheet." The fund will be listed on the SWX Swiss Exchange. Redemption in kind is possible.
http://www.reuters.com/article/rbssF...57435220081020