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.