First gold UCITS fund launches

Thu Dec 16, 2010

A gold denominated UCITS fund has been launched by Geneva-based Palaedino Asset Management.

The Axiom Fund, advised by Palaedino, is believed to be the first gold UCITS fund. It is a Luxembourg-domiciled UCITS III SICAV. The fund currently is reserved for institutional clients.

However it is going through the registration process in a number of European countries, including Switzerland, which will give access to the general public.

Investors who choose the new gold share classes will...


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