ETF Securities has surpassed $3.5bn in assets under management (AUM) in its range of six US-listed precious metal ETPs.
The milestone has been reached following the launch of two precious metal basket ETPs towards the end of last year, joining the company's single product offerings in silver, gold, platinum and palladium.
ETFS Physical Precious Metals Basket Shares and White Metal Basket Shares were, according to the issuer, the first of their kind in the US.
All US-listed ETFS ETPs are physically backed by underlying bullion, with audit reports published on the firm's website. ETFS says it has plans to further expand its product offering in the US.
ETFS marketing strategic director William Rhind says: "Reaching $3.5bn in AUM is fantastic news and another key milestone for our business. Investor concern over sovereign debt and deficit problems continues to be a key theme driving client demand for exposure to precious metals."
INDUSTRY VOICE: How can the financial services sector create good outcomes for women as both employees and customers? This was the question posed by Quilter's corporate affairs director Jane Goodland to four panellists at TISA's annual conference this...
Interest rates held
'Transfer volumes to decrease'
‘Call to action for mortgage advisers’