Swiss ETF providers ZKB and Julius Baer have both announced an expansion of their precious metal ETF ranges.

ZKB is launching three new hedged share classes of its gold ETF, effective today, 8 January.  Investors in these share classes will receive the return on the gold ETF with the currency exposure hedged into either euros, Swiss francs or pounds sterling.  Costs/revenues arising from the currency hedging will be assigned directly to the relevant currency class of the fund.

ZKB is also launching a sterling-denominated (unhedged) share class of its gold ETF.

These launches bring ZKB’s gold ETF product range into line with that offered by competitor Julius Baer, which also offers a gold ETF with both unhedged and hedged currency classes in the US dollar, Swiss franc, euro and sterling.

ZKB’s combined gold ETF assets under management (i.e., encompassing all share classes) were €3.5 billion as at 24 December, according to the Deutsche Bank ETF Liquidity Trends report.  Julius Baer’s combined assets under management were €1.5 billion at the same date.

Meanwhile Julius Baer is expanding its own ETF range with the launch of new funds tracking silver, platinum and palladium prices, also with effect from 8 January.

The new funds come in four currency classes – Swiss franc, euro, sterling and US dollar, and in two share classes – “A”, offering in-kind redemption and “AX”, without in-kind redemption.  All carry a management fee of 0.5% per annum.