Gold Exchange-traded Fund Launches on Moscow Bourse | Business | The Moscow Times:
"Investment management firm FinEx Group and the Moscow Exchange said they had launched Russia's first gold-backed exchange-traded fund as part of a bid to turn Moscow into an international financial centre.
The FinEx Physically Held Gold ETF fund, which has been listed on the Irish Stock Exchange and cross-listed on the Moscow Exchange, tracks the gold price as calculated using the London Gold Fixing Price, FinEx said.
Shares will be available in U.S. dollars and rubles, it added.
"Our research shows there is substantial appetite among investors for gold now and going forwards. We anticipate significant demand for this product, especially in Russia," Simon Luhr, chief executive of London-based FinEx Capital Management, said in a statement Thursday."
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