ETFCentral


Absa Capital

NewGold


Summary

Issuer
Absa Capital
Short Code
GLD
Launch Date
1 November 2004
Index Tracked
N/A


Exposure

Local/Offshore
Local
Asset Class
Commodities


Cost

TER
0.40%


Smart Beta

Smart Beta
No
Smart Beta Type
N/A


Dividends

Distribution Dates
No distributions payable
Last Dividend Payout
N/A
Next Dividend Payout
N/A


Detailed Description

Absa CIB’s NewGold Exchange Traded Fund (NewGold) is one of the simplest and cost-efficient methods for investors to invest directly in actual gold. NewGold continuously tracks the gold spot price and enables investors to invest in a listed instrument (structured as a debenture) in which each security is equivalent to approximately 1/100th ounces of gold and is fully backed by holdings of gold bullion with the NewGold Custodian, ICBC Standard Bank.

NewGold is the first product in South Africa through which institutional and retail investors can securely invest directly in gold bullion.