Wednesday, December 19, 2018
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swiss & global adds new exchange-traded precious metal products

by nicholas larkin

jan. 15 (bloomberg) -- swiss & global asset management ltd. started exchange-traded products backed by silver, platinum and palladium.

the products listed on the swiss stock exchange jan. 8 and the metals will be held in zurich, stephan mueller, executive director of product management and development at the zurich- based manager, said today by phone.

julius baer started a gold-backed exchange-traded product in october 2008. holdings in the fund, which is now managed by swiss & global, were at 1.953 million ounces as of yesterday.

“we had economic turmoil in the last year and gold did well,” mueller said. “when the economic recovery kicks in we believe metals like platinum and palladium will fly. there is a lot of industrial demand for these metals.”

the silver product held 1.453 million ounces as of jan. 13. platinum holdings were 3,780 ounces and palladium 6,750 ounces. swiss & global is part of gam holding ltd.

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