ETF Securities To Introduce Industrial Metals Basket ETF
ETF Securities, the ETF issuer that has made investing in baskets of precious metals a popular theme with investors, is trying the same approach with industrial metals, announcing it has filed paperwork with the SEC to introduce the ETFS Physical IM Basket ETF.
The fund, for which ETF Securities did not disclosed a ticker or an expense ratio, will be backed by physical metals evidenced by warrants or in some cases, warehouse receipts from the London Metals Exchange, ETF Securities said.
The new ETF will be track the following industrial metals: Aluminum, copper, lead, nickel, tin and zinc. ETF Securities has a similar approach with success recently.
The ETFS Physical Precious Metals Basket Shares (NSYE: GLTR) offers basket exposure to gold, silver, palladium and platinum while the ETFS Physical White Metals Basket Share (NYSE: WITE) is basically GLTR without gold exposure.
In January, ETF Securities said assets under management for its U.S.-listed ETFs had reached $3.5 billion.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.