ETF Securities Gold ETF Surpasses $500M In Assets

The ETFS Physical Swiss Gold Shares ETF SGOL, an ETF backed by physical gold issued by ETF Securities, surpassed $500 million in assets under management on June, according to ETF Securities. ETF Securities says it believes most of the new investor inflows to SGOL may have been driven by a lack of confidence in traditional paper currencies. On June 8, gold reached record highs when measured in British Pounds, Euros and U.S. Dollars. According to Bloomberg data, SGOL has grown by 15% this year, outpacing the growth seen by rival ETFs issued by iShares and State Street STT. While SGOL is still far smaller than the SPDR Gold Shares GLD in terms of assets under management, SGOL's asset growth is impressive considering the ETF made its debut in September 2009.