New products and changes introduced over the last week include the planned launch of a gold-trust ETF by Merk, a multi-strategy ETF from Invesco PowerShares and a dividend growth fund from American Independence.
In addition, 1st Global announced a mobile app for advisors. Here are the latest developments of interest to advisors:
1) Merk Rolls Out Gold Trust ETF
The Merk Gold Trust holds gold bullion as allocated “London Bars” vaulted in London. OUNZ shareholders own a pro-rata share of the gold held by the Trust.
Investors have the option to take delivery of their gold in exchange for their OUNZ shares. If and when desired, investors may request delivery of the London Bars held by the Trust, as well as exchange their shares for gold coins (or bars) that are more commonly desired by individual investors.
As an ETF, OUNZ seeks to track the price of gold less the expenses of the trust’s operations.
“We believe we have revolutionized commodity investing by bridging the world between institutional and individual investors. Gold investing will never be the same, as investors may now buy gold with the ease of an ETF, but also have the option to take delivery of their gold when they want, where they want, in the form they want,” explained Axel Merk, president and chief investment officer of Merk Investments, in a press release.
2) Invesco Announces Coming Multistrategy ETF
Invesco PowerShares Capital Management LLC has announced the planned launch of the PowerShares Multi-Strategy Alternative Portfolio (LALT) on May 29.