Fund Management
Source Launches Commodity ETF
This publication reports on the latest product and service launches in the wealth management sector.
Source, the exchange traded fund provider backed by a consortium
of banks and other institutions, has launched an ETF to track
commodity prices as tracked by a Bloomberg index.
The Source Bloomberg Commodity UCITS ETF follows the Bloomberg
Commodity TR Index, and is listed on the London Stock Exchange.
Registered in Ireland, the ETF carries a 0.19 per cent
charge, Source said in a statement yesterday. The total cost is
0.4 per cent.
The rollout comes amid data showing that European investors put
almost $2 billion into broad commodity ETFs last year, Source
said. The organisation said the new ETF's charge is about
half the cost of some competing funds.
The Bloomberg index, launched in 1998, covers 20
commodities.