Alt Investments

Taurus Builds Australian Investment On Gold And Precious Metals

Vanessa Doctor Asia Editor 16 March 2010

Taurus Builds Australian Investment On Gold And Precious Metals

As part of a deal to expand use of its products in Australia, ETF Securities has partnered with Taurus Funds Management, a specialist resources funds manager, to help increase the latter's exposure to gold and other precious metals through its exchange traded commodity products.

Under the agreement, Taurus will invest a sizeable sum into ETFS ETC products, with the possibility for further inflows as the fund expands, ETFS said in a statement. How large the investment would be was not disclosed. Taurus specialises in managing gold, precious metals, and other natural resources.

"We've been extremely impressed with the ETFS product as a cost effective and convenient mechanism through which to gain exposure to physically-backed gold and other precious metals through a single provider and platform," said Mohendra Moodley, the director at Taurus.

The platform allows Taurus to trade with minimal fuss and gives the firm the ability to change its strategy and allocation between the different precious metals in a simple manner, the statement noted.

ETFS believes this is just the first of many possibly similar partnerships in the Australian market.

"Large investors are looking for efficient and flexible access to the commodities market and ETCs allow investors access to liquidity and quick trades with minimal cost. We expect more investors to look to ETCs as the market becomes better acquainted with the product," Nigel Phelan, the head of sales in Australia and New Zealand at ETFS, said.

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