Saturday, 25 April 2015
Last updated 15 hours ago
Dec 16 2010 | 10:42am ET
The Geneva-based Palaedino Group is giving its clients a chance to strike gold.
The investment advisor is launching what it’s billing as the world’s first UCITS funds denominated in gold.
Palaedino will allow investors to subscribe to its funds via a ‘gold share class.’ The group says this will allow them to participate in the performance of the funds and gold while being isolated from fluctuations in conventional currencies such as euros, U.S. dollars and sterling.
Gold share classes will be available for all group funds, including global equities, global fixed incomes, global diversified and the new UCITS Alternative Investable Index Fund.
Palaedino is not alone—the New York-based hedge fund Paulson & Co. and the Bermuda-based Osmium Capital Management also offer gold share classes. Immediate-delivery gold traded at a record $1,431.25 an ounce on December 7, and has added 27% this year.
The Palaedino Group is a multi-family office set up in 2006. The group oversees over CHF 1.1 billion (CHF 500 million in UCITS funds).
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…