VanEck has launched the Gold Bullion ETF (ASX: NUGG) on ASX, where investors are able to convert their NUGG holdings into physical gold at The Perth Mint.
The ETF is backed by gold bullion exclusively sourced from Australian gold producers whose operations adhere to the LBMA Responsible Gold Guidance.
“NUGG is an exciting launch, extending on VanEck’s global leadership in gold investing that stretches more than 50 years, encompassing gold equities and bullion across ETFs and active funds,” VanEck’s Asia Pacific CEO and managing director Arian Neiron commented.
Moreover, NUGG is the fund manager’s 32nd ASX-listed ETF.
Mr Neiron said the ETF “will be the most cost‐effective gold ETF on ASX, giving access to this unique asset class.”
“VanEck launched the US’s first gold equity fund in 1968, and that fund is still around today. Our gold miners ETF (GDX), since its launch in 2006, is one of the most actively traded ETFs in the world,” he continued.
The Perth Mint will additionally publish a registered gold bar list daily for investors.
“Investors are increasingly looking for transparency for their precious metals purchases. The gold bullion that physically backs NUGG, is held in a vault at the Perth Mint and is sourced from Australian gold producers. A list of the allocated gold bars that make up the fund’s assets will be made available on our website daily.” Mr Neiron explained.
“NUGG’s launch is timely given the financial and political uncertainty the world faces. History has shown, when confidence erodes, or when there is extreme volatility in markets, investors turn to gold.”
“Importantly, with NUGG, investors can gain confidence from the ability to physically access the gold from The Perth Mint, gold that is Australian sourced,” he concluded.
