Home-grown LionGlobal Singapore Physical Gold ETF debuts on SGX
It is the country’s first fund supported by locally stored physical gold.
SGX Stock Exchange has listed the LionGlobal Singapore Physical Gold exchange-traded fund (ETF), the first in the country to be backed by physical gold stored locally.
The ETF is issued at $6.41 (US$5) per unit with a board lot size of one unit, and is available in SGD and USD under the stock codes GLS and GLU, respectively.
The fund had assets under management of over $500m at listing.
Its units are available in SGD and USD under the stock codes GLS and GLU, respectively.
Managed by Lion Global Investors, the ETF tracks the LBMA Gold Price AM and invests in gold bars that meet LBMA Good Delivery standards with a minimum fineness of 99.5%.
Standard Chartered Bank serves as custodian, with the gold physically stored and fully insured in secure vaults in Singapore.
The ETF is also eligible for investment using Supplementary Retirement Scheme funds.
Following its listing, the stock exchange now hosts 53 ETFs with combined assets under management of over $19b.
$1 = US$0.78