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