NewPlat Exchange Traded Fund (ETF) 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.
Classified as a domestic investment, NewPlat Exchange Traded Fund (ETF) offers a simple and cost-effective method to invest in physical platinum bullion. NewGold Issuer Limited (RF) issues listed instruments (structured as debentures) backed by physical holding of precious metals.
NewGold platinum debentures are listed on the Johannesburg Stock Exchange (JSE) and are secondary listed. They are easily obtained through a JSE member stockbroker, Absa internet banking portal and the Investment Plan administered by Absa Investment Management Services (AIMS). NewPlat Exchange Traded Fund (ETF) is the second product offer in South Africa through which institutional and retail investors can securely invest in platinum bullion, with the added benefit of low management fees.