SA investors gain direct exposure to Rand performance of palladium bullion
The corporate and investment banking division of Absa Bank Limited (Absa), member of Barclays, today debuted it’s fully backed physical palladium Exchange Traded Fund (ETF) on the Johannesburg Stock Exchange (JSE).
NewPalladium joins a suite of commodity ETFs from Absa that include NewGold, the largest ETF in Africa, and NewPlat, the largest platinum ETF in the world and the second largest ETF in Africa.
An investment in NewPalladium, issued by NewGold Issuer Limited, will provide investors with the opportunity to obtain exposure to the Rand performance of palladium bullion.
“The NewPalladium ETF further demonstrates Absa’s commitment to bringing world class financial products to local investors at competitive rates,” said Vladimir Nedeljkovic, Head of Exchange Traded Products at the Corporate and Investment Banking division of Absa.
“I am confident that the NewPalladium ETF will perform as well as NewGold and NewPlat,” added Nedeljkovic.
The listing of the NewPalladium is significant for South African investors since this fund, like NewPlat before it, is classified by the South African Reserve Bank as a domestic investment, not affecting the foreign exposure limits normally applicable to institutional investors and authorised dealers.
ETFs remain among the fastest growing investment funds in major markets across the world. They are attractive because of their low costs, tax efficiency and stock-like features.
Note to the editor:
About Corporate and Investment Banking at Absa:
Corporate and Investment Banking, a division of Absa Bank Limited (Absa) and a member of Barclays, is a leading South African corporate and investment bank with global reach, offering clients financing, risk management and advisory solutions in a wide range of currencies and structures across the globe.
About Absa’s ETFs and Index Products:
Absa’s Corporate and Investment Banking division is a leading originator of exchange traded funds (ETFs) in the South African market, and has 48% of the market share based on assets under management. To find out more please visit www.absacapitaletfs.com
+27 11 214 2409
+27 83 552 2109
For further information contact:
Marketing and Corporate Communications
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