FSA receives complaints about proposed ETFs in The UK
09 Nov 2010
Plans to allow investors to easily own industrial metals like copper and aluminium have come under the scrutiny of the UK regulator, the Financial Services Authority.
The regulator has received complaints about yet-to-be launched exchange traded funds (ETFs) that would own industrial metals, the FSA has confirmed.
Though investors currently do have access to physical metals like gold with ETFs, a new product would provide investors with access to non-precious metals, as well.
Investors in 'physically-backed' exchange traded funds (ETFs) own lumps of metal like gold and silver, which is stored in vaults – such as the ETF Securities Physical Silver ETF.
The World Gold Council says physical ETFs have proved extremely popular and thanks to their success industrial metal mining firms are now looking to set up ETFs for non-precious metals.
ETF providers ETF Securities and BlackRock, have announced they intend to launch ETFs that would allow investors to own metals like copper and aluminium.
