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Source Launches Commodity ETF

Tom Burroughes

17 January 2017

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.