The Hong Kong Securities and Futures Commission (SFC) has authorised the first exchange traded fund which tracks the price of gold (Gold ETF) for listing on the Stock Exchange of Hong Kong, the regulator announced on Wednesday.
Gold ETF is a passive investment vehicle which holds physical gold as its only underlying assets. It offers investors a simple means of participating in the gold bullion market without the necessity of taking physical delivery of gold.
Commenting on the authorisation of the fund, Alexa Lam, the SFC’s Deputy Chief Executive Officer and Executive Director, Policy, China and Investment Products, stated:
“We have seen growing investor interest in the commodities market and have been working with industry participants to enable the introduction of different commodities products to the Hong Kong market.
“Facilitating the development of a broad range of products is a key priority for the SFC. We are pleased that Hong Kong now has its first retail Gold ETF."
A comprehensive report in our Intelligence Report series examining offshore investment, offshore stock exchanges, trusts and hedge funds is available in the Lowtax Library at http://www.lowtaxlibrary.com/asp/subs_reports.asp and a description of the report can be seen at http://www.lowtaxlibrary.com/asp/description_report9.asp
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment