BNY Mellon Asset Servicing has been selected by ETF Securities to provide exchange-traded funds (ETF) services for its Physical Swiss Gold Shares, which has been designed to reflect the price of gold bullion. The services include trustee services, fund accounting, fund administration, ETF services and transfer agency.
Joseph Keenan, managing director and head of relationship management for BNY Mellon Asset Servicing, said: “We are pleased to expand our relationship with ETF Securities, which currently utilizes our asset servicing capabilities for derivatives-based funds that are distributed in Europe. The new gold-backed fund demonstrates the increasing diversification that investors can achieve through ETFs.”
Fred Jheon, head of product and business development for ETFS Marketing, said: “BNY Mellon has an excellent reputation for providing customized services for commodity-based exchange-traded products. Based on our existing relationship in Europe, we are confident that BNY Mellon will be an excellent partner in the US on our new physically-backed precious metal products. Our new offering, SGOL, has been constructed to provide investors with a low-cost and convenient way to gain exposure to physical gold held in fortified vaults in Switzerland.”
ETF Securities is a provider of exchange traded commodities (ETCs) and exchange traded funds (ETFs). ETF Securities is independently owned and is the European market provider in ETCs.
