- New ETF to be listed in Hong Kong
- First ETF to track FTSE Gold Mines Index
- c. US$420 billion ETF AuM linked to FTSE Russell indexes globally
FTSE Russell, the global index and data provider, announces it has licensed its FTSE Gold Mines Index to XIE Shares, who launched today its new XIE Shares FTSE Gold Miners ETF on Hong Kong Stock Exchange. XIE Shares is the exchange traded funds (ETF) business of Enhanced Investment Products (EIP) Limited.
The FTSE Gold Mines Index Series is designed to reflect the performance of the worldwide market in the shares of gold mining companies. The index series encompasses all gold mining companies that have a sustainable and attributable gold production of at least 300,000 ounces a year, and that derive 51% or more of their revenue from mined gold. The XIE Shares FTSE Gold Miners ETF is the first to be tracking the FTSE Gold Mines Index. There are currently 35 constituents in the Index including Barrick Gold, Newmont Mining, Newcrest Mining and GoldCorp.
Sudir Raju, Managing Director ETP Relationships, Asia, FTSE Russell said:
“We are pleased that XIE Shares has decided to licence the FTSE Gold Mines Index Series for its new ETF, the first to be tracking this index. FTSE Russell works closely with a number of firms in the Asia region and has a strong track record in developing a broad range of indexes and services across asset classes, which are suitable for benchmarking purposes and as tools in the creation of a wide variety of financial products, such as exchange traded funds.”
Tobias Bland, EIP CEO, said:
“The launch of this ETF tracking the FTSE Gold Mines Index will provide investors with an easy and cost effective way to buy gold deposits worth US$900 billion as well as gaining exposure to gold price fluctuations. We are delighted to add this ETF to our range of products available on Hong Kong Stock Exchange.”
More information on the FTSE Gold Mines Index Series can be found here.
