Royal Skandia has added two precious metals funds to its unit-linked fund range in the Isle of Man.
The BMG BullionFund and BMG Gold BullionFund are medium to long term saving and investment solutions from Bullion Management Group (BMG) of Canada.
As open-end mutual funds, the funds provide the same liquidity as their underlying precious metal assets; BMG does not trade or attempt to time the market and the funds have no exposure to counterparty risk.
The BMG BullionFund is an open-ended mutual fund that purchases equal dollar amounts of gold, silver and platinum bullion - a world first according to BMG. The BMG Gold BullionFund is also an open-ended mutual fund that purchases only gold bullion. As the BMG funds hold only pure physical bullion, tax efficiency is maximised as there is no sales tax or withholding tax is applicable on bullion in Canada
Established in 2002. BMG now holds approximately CDN$600 million in assets under management and is one of only two Canadian firms that have gained the distinction of qualifying as an Associate Member of the London Bullion Market Association (LBMA). BMG is also the first Canadian bullion fund to belong to Canada’s Social Investment Organization (SIO).
Physical bullion in BMG Funds is stored on an allocated and insured basis under a custodial agreement with The Bank of Nova Scotia in its LBMA member vault in Toronto, Canada.
BMG President and CEO, Nick Barisheff, is also the author of $10,000 Gold: Why Gold’s Inevitable Rise is the Investor’s Safe Haven to be published in May by John Wiley and Sons.
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