ETF Securities is set to begin trading their new “ETFS White Metals Basket Trust” (NYSE:WITE) this Friday. The investment objective of the Trust is for the Shares to reflect the performance of the price of physical silver, platinum and palladium in the proportions held by the Trust, less the expenses of the Trust’s operations. The Shares are designed for investors who want a cost-effective and convenient way to invest in a basket of Bullion with minimal credit risk.
The Trust is one of several exchange-traded products that seek to track the price of physical precious metals (“Bullion ETPs”). Some of the distinguishing features of the Trust and its Shares include holding of physical silver, platinum and palladium bullion in the specified ratio, vaulting of Trust silver in London and the vaulting of Trust platinum and palladium in London or Zurich, the experience of the Sponsor’s management team, the use of JPMorgan Chase Bank, NA as Custodian, third-party vault inspection and the allocation of almost all of the Trust’s Bullion.
The Shares are intended to offer investors an opportunity to participate in the silver, platinum and palladium markets through an investment in securities. The Bullion representing a Share in the initial Baskets was comprised of 1.0 ounce of silver, 0.01 ounces of platinum and 0.008 ounces of palladium. The logistics of storing and insuring Bullion are dealt with by the Custodian and the related expenses are built into the price of the Shares. Therefore, the investor does not have any additional tasks or costs over and above those associated with dealing in any other publicly traded security.
For the full prospectus click: HERE