VanEck lists gold bullion ETF

By Penny Pryor

VanEck has listed a gold bullion ETF (NUGG) on the ASX which is physically backed by gold bullion sourced from Australian gold producers. VanEck says that investors can also convert their ETF into physical gold at The Perth Mint.

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 worl," VanEck CEO and managing director, Arian Neiron, said.

The fund, specifically designed for Australian investors, is VanEck's 32nd ETF listed on the ASX.

"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." Neiron said.

The fund has management costs of 0.39 per cent per annum.