Third ETF set for BSE debut

When launched, the NewPlat ETF will operate similar to the Absa Capital’s other BSE product, the NewGold ETF, which tracks the price of gold. Each unit of both the NewGold and NewPlat represents an investment in physical gold assets stored abroad. The other ETF on the BSE is Nedbank Capital’s Bettabeta.

The NewPlat ETF first debuted on the Johannesburg Stock Exchange last April, before listing on the Stock Exchange of Mauritius earlier this year. Last August, the ETF became the largest of its type in the world with holdings of more than 579,000 ounces.