Lyxor launches gold ETN

As investors increasingly turn to gold as a safe haven investment, Lyxor has launched a new gold exchange traded note. The Lyxor ETN Long Gold will track in real time the performance of the gold spot price quoted in US dollars per troy ounce. Lyxor ETNs are secured notes guaranteed by Société Générale and 100% collateralised with S&P AAAf-rated euro government bond funds or government bonds from the eurozone, which eliminates the counterparty risk on the issuer. The ETN has a fixed annual fee of 0.3% and a variable cost to finance the collateral used in the underlying structure, which...