Geneva-based Palaedino Asset Management, the fund manager arm of the Palaedino Group and advisor to the Axiom Fund, this week announced that it would be
Geneva-based Palaedino Asset Management, the fund manager arm of the Palaedino Group and advisor to the Axiom Fund, this week announced that it would be offering investors the opportunity to subscribe to its four Axiom funds via a “gold share class” in euros – the world’s first gold-denominated UCITS offering. The decision comes at a time when gold prices have rallied this year, reaching an all-time high of USD1432.50 on December 7th. Investors opting for the Gold Share Class will gain exposure to both the chosen fund’s investments, and gold fluctuations, the advantage being that they’ll be isolated from currency fluctuations in the euro, sterling and US dollar. It’s certainly an effective way to hedge against inflation. Investors must simply transfer euros, which are then converted into ounces of gold and denominated thereafter. The four funds include: Global Equities, Global Fixed Income, Global Diversified and the UCITS Alternative Investable Index Fund. Commenting on the offering, Jerome Berset, Senior Portfolio Manager at Palaedino Asset Management, said the unconventional approach would enable investors to “kill two birds with one stone”. “A Gold Class will therefore provide clients with an optimum use of their capital since they will be exposed to financial assets and to the price of Gold simultaneously,” said Berset, who referred to gold when used this way as a “quasi currency”.
