Singapore asset manager Lion Global Investors has launched the first physical gold fund in the city state.
The LionGlobal Singapore Physical Gold Fund is backed one-to-one by investment-grade gold bars, the company says in a statement on November 26.
It will be distributed through six local financial services companies with Standard Chartered Bank Singapore serving as custodian.
According to Teo Joo Wah, Lion Global’s chief executive officer, the fund caters to growing demand for alternative assets in diversified portfolios, especially in volatile markets when gold is treated as a trusted store of value.
He says it “represents a bold step forward in making physical gold more accessible, secure and relevant for today’s investors”.
The fund is available in Singapore and US dollar share classes at a minimum initial investment of S$1,000 and US$1,000, respectively.
