Absa to secondary list ETFs on A2X

Absa Corporate and Investment Bank (Absa CIB) are to secondary list three of its market-leading metal exchange traded funds (ETFs) on A2X Markets.

  • NewGold (GLD)
  • NewPlat (NGPLT) and
  • NewGold Palladium (NGPLD).

The three ETFs will retain primary listings on the JSE and will now also be available for trade on A2X from 11 July 2019.

These listings follow A2X’s recent licence extension to include the secondary listing and trade of ETFs and ETNs that was granted by the Financial Sector Conduct Authority and the South African Reserve Bank’s Prudential Authority earlier this year.

The Newgold ETFs that are being listed on A2X are the largest ETFs in the local market with almost R25 billion in assets under management, Absa said.

A2X began trading in October 2017 and has nine approved brokers that account for about 50% of market activity.

NewGold Exchange Traded Fund

The NewGold Exchange Traded Fund offers the opportunity to invest in gold bullion, as it tracks the rand price of gold. The debentures are fully backed by physical gold bullion with each debenture approximately equivalent to 1/100th of a fine troy ounce of gold bullion, which is held with a secure depository on behalf of investors at an annual fee of 0.4% of its value.

NewPlat Exchange Traded Fund

NewPlat Exchange Traded Fund offers the opportunity to invest in platinum bullion, as it tracks the rand price of platinum. The debentures are fully backed by physical platinum bullion with each debenture approximately equivalent to 1/100th of a fine troy ounce of platinum bullion, which is held with a secure depository on behalf of investors. The annual management fee is 0.4% of the value of the debenture.

NewPalladium Exchange Traded Fund

The NewPalladium Exchange Traded Fund offers the opportunity to invest in palladium bullion, as it tracks the rand price of palladium. The debentures are fully backed by physical palladium bullion with each debenture approximately equivalent to 1/100th of a fine troy ounce of palladium bullion, which is held with a secure depository on behalf of investors. The annual management fee is 0.4% of the value of the debenture.


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Absa to secondary list ETFs on A2X