ETF Securities has announced the launch of five new exchange-traded funds backed by precious metals.

The ETFs in question are called Physical Gold, Physical Silver, Physical Platinum, Physical Palladium and Physical PM Basket, with the underlying metals for the latter being gold, silver, platinum and palladium.

Launched on 24th August, the ETFs will be listed on the Tokyo Stock Exchange and multiply-listed on the London Stock Exchange and Deutsche Boerse.

According to mondovisione, the move will bring the number of ETFs listed on the Tokyo Stock Exchange to 67, with the bourse having set a target in its Mid-Term Management Plan of securing 100 ETF listings by 2010.

The performance of ETFs is dependent on the movement in price of the metals on which they are based, with investors' stakes equivalent to the specific metal weights.

Source:

ETF Securities to launch 5 precious ETFs in Japan (12/08/09)

The progress of platinum group metal exchange traded funds (ETFs) (13/08/09)

Ÿ Adfero Ltd