ETFCentral


Absa Capital

NewPlat


Summary

Issuer
Absa Capital
Short Code
NGPLT
Launch Date
26 April 2013
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 NewPlat Exchange Traded Fund (NewPlat) is one of the simplest and cost-efficient methods for investors to invest directly in actual platinum. NewPlat continuously tracks the platinum 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 platinum and is fully backed/covered by holdings of platinum with the NewPlat Custodian, ICBC Standard Bank.

NewPlat is the first product in South Africa through which institutional and retail investors can securely invest directly in platinum spot.