October 24, 2008
Julius Baer to Launch New Physical Gold Fund
Swiss wealth manager Julius Baer is launching a new physical gold fund, which is claimed to protect investors from market volatility.
The fund will exclusively invest in standard gold bars of 400 ounces or about 12.5 kilos and it will not use any derivatives. The fund will be listed on the SWX Swizz Exchange.
According to Citywire, the new fund will be available in euro and Swiss franc versions, and it will be currency hedged on a daily basis.
Stephen Mueller, from the physical gold team of Julius Baer was quoted by Reuters as saying: "Our clients want to invest into a safe haven that has no counterparty or balance sheet risk. We are creating a pure gold investment fund with no risk in the balance sheet."