Tuesday, 25 October 2016
Last updated 6 hours ago
Mar 21 2011 | 1:44pm ET
Luxembourg Fund Partners, an independent advisory firm, has launched a physical gold fund, LFP Prime SICAV SIF.
The fund is designed to provide investors with a liquid, convenient and low-cost way to own shares in a regulated fund that is backed by fully allocated gold. Shares of the fund are convertible into the underlying asset through the Precious Metals Agent.
"We are extremely pleased to be able to offer this product at this time," said Luc Leleux, who manages LFP's flagship LFP PRIME SICAV-SIF fund. "Investment demand in physical gold has been robust, and we are glad to offer a Luxembourg-regulated product to the market. Luxembourg is the leader in cross-border distribution of funds globally and has an excellent track record."
ABN Amro Bank Luxembourg is the custodian of the fund, Las Bovedas Corporation SARL is the Investment Advisor, AFE Custodial Company is the Precious Metals Agent, and Grant Thornton and Ernst and Young are the auditors.
The fund is available to informed and institutional investors only.
LFP specializes in defining, creating, operating and managing Luxembourg investment funds and investment structures on behalf of private and institutional clients.