Brompton Funds Management confirmed on Tuesday (4th August) that it has launched a new precious metals fund which is set to feature platinum.

A final prospectus has been filed for the fund - which is known as the Precious Metals Bullion Trust - and the Toronto Stock Exchange has conditionally approved its units and warrants.

According to the company, the fund has the potential to reach a maximum of $120 million, which would equate to about 36,000 oz of platinum at current market prices.

"The investment objective of the fund is to provide unit holders with a secure, low cost and convenient method of investing in gold, silver and platinum bullion on a Canadian dollar-hedged basis," it said.

"Units are redeemable quarterly for a redemption price equal to 100 per cent of the net asset value per unit less costs, beginning in April 2010."

Furthermore, Brompton noted that investors will have exposure to a number of benefits associated with direct investments, such as avoiding counterparty or company-specific risks.

Assuming the fund meets customary requirements, trading will commence on 14th August, with the units and warrants taking the respective symbols PBU.UN and PBU.WT.

Source:

Precious Metals Bullion Trust Files Final Prospectus (04/08/09)

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