Tue, 06/10/2009 - 06:04
Castlestone Management, the alternative New York and London asset manager, has made direct, unleveraged exposure to physical gold bullion and precious metals available to euro and sterling investors in its Aliquot Gold Bullion and Aliquot Precious Metals Funds.
Euro and sterling investors will now have direct, unleveraged exposure to physical gold or precious metals prices without the worry of currency movements undermining their investments.
Gold and precious metals investing has become increasingly popular since the onset of the financial crisis and in light of their strong price performance in the last year. Gold and precious metals both proved their value during the crisis serving both as a defensive haven in times of turbulence and a crucial portfolio diversification tool.
As tangible, unleveraged real assets, gold and other precious metals are also increasingly seen as a valuable hedge against the devaluation of currency. This is becoming more urgent in light of the unprecedented surge in money supply growth over the last year. In addition, silver and platinum provided direct exposure to the emerging economic recovery as both have industrial uses which will increase demand as the recovery gains momentum.
However, gold is normally only quoted and traded in US dollars. For investors in other currencies, this adds an element of currency risk which can dilute the usefulness and value of direct investment in gold. In response to requests from investors, Castlestone Management has decided to launch euro and sterling hedged share classes for its Aliquot Gold Bullion and Aliquot Precious Metals funds.
These funds differ from many other alternatives in that they generally invest directly in physical assets—actual gold and other precious metals. Buying physical gold ensures that there is little or no corporate, market or counterparty risk.
Angus Murray, chief executive of Castlestone Management, says: “Direct exposure to commodity spot prices, compared with say an equity commodity fund, can provide more of the diversification benefits available from these asset classes.”
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