BSE to launch platinum ETF

When launched by its sponsor, Absa Capital, the NewPlat ETF will join another ETF product on the BSE, the NewGold, also owned by the South African financial giant and debuted in 2010. In addition, the NewPlat will become the BSE’s third ETF after Nedbank Capital’s Bettabeta that listed in 2011.

Yesterday, BSE officials revealed that the NewPlat ETF will operate similar to the NewGold, which tracks the price of gold, with each unit sold representing an investment in physical gold assets stored abroad.