Toronto financial company BMO Asset Management is launching three exchange-traded funds (ETFs) specializing in the direct holding of gold bars stored on Canadian soil.
According to BMO Asset Management, these new gold market ETFs “will allow investors to have direct exposure to the price of gold bullion without having to purchase and store the precious metal.”
Introduced on the Toronto Stock Exchange on Friday, these gold bullion ETFs are listed under three related symbols: ZGLD for the BMO Canadian Dollar Gold Bullion ETF, ZGLD.U for the BMO Canadian Dollar Gold Bullion ETF US dollars, and ZGLH for the BMO gold bullion ETF which is hedged to Canadian dollars
According to BMO Asset Management, these gold bullion ETFs with management fees advertised at 0.2% “were created in response to investor demand for exchange-traded funds that not only invest in gold, but also hold physical gold in a highly secure location in Canada.
BMO…
