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Swarnamahal Financial Services Ltd., (SFS), linked to same name bearing trusted top jewellery retail brand, is planning to launch a Gold ETF (Exchange Traded Fund) fund, to provide the investing public with benefits of this ever in demand precious metal.
SFS is a registered finance company in operation since 2005, and the idea of Gold ETF heralds the setting up of a Commodities Exchange in Sri Lanka.
“Gold and jewellery are synonymous with the brand Swarnamahal. With our rich legacy, expertise and professional acumen coupled with the success so far, we are keen to pioneer a Gold ETF fund when the necessary legal framework as well as the Commodities Exchange is ready along with regulatory approvals,” SFS Director Nalaka Edirisinghe told the Daily FT.
He said that the very idea of setting up a multi-asset class Commodities Exchange is a welcome move as it will further help developing Sri Lanka as a commercial hub in line with the Government’s stated policy. Globally Commodities Exchanges as well as ETFs are an integral part of the capital and financial markets offering wider options for investors in diversifying the management of their funds as well as risks.
Via a Gold ETF the public has the comfort of investing in the precious metal sans the hassle of stocking or requiring attention to details and logistics of purchase. Globally some Gold ETF track gold stock index or gold price index. (See Page 9 to find out how Gold ETFs work).
http://colombostockwatch.com/2011/05/swarnamahal-financial-services-mulls-gold-exchange-traded-fund-portfolio/
SFS is a registered finance company in operation since 2005, and the idea of Gold ETF heralds the setting up of a Commodities Exchange in Sri Lanka.
“Gold and jewellery are synonymous with the brand Swarnamahal. With our rich legacy, expertise and professional acumen coupled with the success so far, we are keen to pioneer a Gold ETF fund when the necessary legal framework as well as the Commodities Exchange is ready along with regulatory approvals,” SFS Director Nalaka Edirisinghe told the Daily FT.
He said that the very idea of setting up a multi-asset class Commodities Exchange is a welcome move as it will further help developing Sri Lanka as a commercial hub in line with the Government’s stated policy. Globally Commodities Exchanges as well as ETFs are an integral part of the capital and financial markets offering wider options for investors in diversifying the management of their funds as well as risks.
Via a Gold ETF the public has the comfort of investing in the precious metal sans the hassle of stocking or requiring attention to details and logistics of purchase. Globally some Gold ETF track gold stock index or gold price index. (See Page 9 to find out how Gold ETFs work).
http://colombostockwatch.com/2011/05/swarnamahal-financial-services-mulls-gold-exchange-traded-fund-portfolio/
