BNY Mellon Asset Servicing Selected to Provide Services For ETF Securities Physical Swiss Gold Shares
September 16 2009 - 6:45AM
PR Newswire (US)
New ETF Aimed at Providing Investors with Low-Cost Exposure to Gold
NEW YORK, Sept. 16 /PRNewswire-FirstCall/ -- BNY Mellon Asset
Servicing, the global leader in securities servicing, announced
today that it has been selected by ETF Securities to provide
comprehensive exchange-traded funds (ETF) services for the ETF
Securities (ETFS) Physical Swiss Gold Shares (NYSE ARCA: SGOL),
which has been designed to reflect the price of gold bullion. The
services include trustee services, fund accounting, fund
administration, ETF services and transfer agency. "We are pleased
to expand our relationship with ETF Securities, which currently
utilizes our asset servicing capabilities for derivatives-based
funds that are distributed in Europe," said Joseph Keenan, managing
director and head of relationship management for BNY Mellon Asset
Servicing. "The new gold-backed fund demonstrates the increasing
diversification that investors can achieve through ETFs." "BNY
Mellon has an excellent reputation for providing customized
services for commodity-based exchange-traded products," said Fred
Jheon, head of product and business development for ETFS Marketing
LLC. "Based on our existing relationship in Europe, we are
confident that BNY Mellon will be an excellent partner in the U.S.
on our new physically-backed precious metal products. Our new
offering, SGOL, has been constructed to provide investors with a
low-cost and convenient way to gain exposure to physical gold held
in fortified vaults in Switzerland, and we are confident that BNY
Mellon has the capabilities to support this type of product." ETF
Securities Ltd is a provider of exchange traded commodities (ETCs)
and exchange traded funds (ETFs). ETF Securities is independently
owned and is the European market leader in ETCs. The management of
ETF Securities pioneered the development ETCs, with the world's
first listing of an ETC, Gold Bullion Securities in Australia and
London in 2003 and then the world's first entire ETC platform which
was listed on the London Stock Exchange in September 2006. ETF
Securities has most recently launched the largest platform of
thematic sector ETFs in Europe providing exposure to European
firsts such as coal, steel, shipping and nuclear power. BNY Mellon
Asset Servicing offers clients worldwide a broad spectrum of
specialized asset servicing capabilities, including custody and
fund services, securities lending, performance and analytics, and
execution services. BNY Mellon is the corporate brand of The Bank
of New York Mellon Corporation. BNY Mellon is a global financial
services company focused on helping clients manage and service
their financial assets, operating in 34 countries and serving more
than 100 markets. The company is a leading provider of financial
services for institutions, corporations and high-net-worth
individuals, providing superior asset management and wealth
management, asset servicing, issuer services, clearing services and
treasury services through a worldwide client-focused team. It has
$20.7 trillion in assets under custody and administration, $926
billion in assets under management, services $11.8 trillion in
outstanding debt, and processes global payments averaging $1.8
trillion per day. Additional information is available at
bnymellon.com. DATASOURCE: BNY Mellon CONTACT: Mike Dunn,
+1-212-922-7859, Web Site: http://www.bnymellon.com/
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