NUGG - VanEck Gold Bullion ETF

[System]

Fund description: NUGG gives investors an investment in Australian sourced gold.

Management style: Physical

NUGG - VanEck Gold Bullion ETF | Invest in Aus Gold

Backed by physical gold bullion sourced from Australian gold producers, NUGG is one of the most cost-effective gold ETFs on ASX. Explore performance.

www.vaneck.com.au

 

[Sean K]

$2.6m in assets? I think GG probably has more stored under the mattress. And there’s a distribution once per year. Huh? Do they post out gold flakes at Christmas?

 

[qldfrog]

$2.6m in assets? I think GG probably has more stored under the mattress. And there’s a distribution once per year. Huh? Do they post out gold flakes at Christmas?

To be fair,they are just starting and this is probably the seed capital wo anyone having purchased yet

 

[Dona Ferentes]

To be fair,they are just starting and this is probably the seed capital wo anyone having purchased yet

It's an ETF and freshly minted, it's dependent on inflows. I hadn't seen any notification or advertising , apart from @qldfrog posting here.

The interesting bit will be to see how/ if it grows. Rule of thumb is that $100million is needed to be profitable for them.

 

[Sean K]

To be fair,they are just starting and this is probably the seed capital wo anyone having purchased yet

It's going to be stored at the Perth Mint, so I guess this is somewhat competing with PMGOLD? I suppose the management fees will be the difference. PMGOLD .15% NUGG .39%. Is this a fair comparison?

 

[qldfrog]

It's going to be stored at the Perth Mint, so I guess this is somewhat competing with PMGOLD? I suppose the management fees will be the difference. PMGOLD .15% NUGG .39%. Is this a fair comparison?

Was thinking exactly same Sean, i have a fair amount of PMGOLD, diversified it a bit with GOLD stake but so far see no point in moving into NUGG.
Keen to be shown dis/advantages of either

 

[Garpal Gumnut]

Fund description: NUGG gives investors an investment in Australian sourced gold.

Management style: Physical

As opposed to Irresponsibly Sourced Australian Origin Gold.

That's done me.

NUGG won't last.

gg

 

[InsvestoBoy]

As opposed to Irresponsibly Sourced Australian Origin Gold.

That's done me.

NUGG won't last.

gg

GG,

It saddens me that your snap judgement shows that the idea of irresponsibly sourced gold is beyond your conception.

The creation of this ETF is actually opportunism from Perth Mint in response to the below, responsibly sourced Australian origin gold as opposed to

Small-scale mining​

The Financial Review revealed last week the Mint was buying up to $200 million of tainted or "conflict gold" from PNG firm Golden Valley, which is owned by convicted killer Justin Parker.

Mr Parker is one of the biggest buyers of gold from small-scale miners across PNG, who often use child labour and toxic mercury to remove impurities.

Despite these revelations, the Mint has consistently claimed to be at the "forefront" of ethical gold sourcing. But on Tuesday evening, it bowed to pressure and halted all shipments of gold from small-scale miners in PNG and across the region.

"Effective immediately as part of this [audit] process, The Perth Mint has suspended relationships with all companies and aggregators dealing with ASM [Artisanal Small-scale Mining]," Mr Walsh said.

Like the consumer backlash over "blood diamonds", which forced buyers and cutters to be more accountable at the end of last century, the gold industry has sought to stamp out "conflict gold" and ensure the integrity of its supply chains in recent years.

This push for ethically sourced gold has been led by the world's largest gold exchange, the London Bullion Market Association (LBMA), which is conducting its own investigation into the Perth Mint after saying it took the allegations "very seriously".

(from https://www.afr.com/companies/mining/perth-mint-board-ignored-corruption-advice-20200617-p553ib)

Perth Mint insiders say the refiner has ignored staff concerns about dealing with Golden Valley, which buys from small-scale miners, an industry heavily criticised for using child labour, degrading the environment through the use of toxic mercury, and promoting conflict.

The insiders, speaking on the condition they remain anonymous, said the mint was paying little more than lip service to its pledges around responsible gold sourcing by continuing to deal with Golden Valley.

They cited a conversation with a Golden Valley employee, who was asked how the company dealt with competition in PNG.

"It's easy, a gun to the back of the head," the employee said. Golden Valley denies a comment like this was ever made.

Any sanctions from the LBMA would be highly damaging for the Mint, which has repeatedly claimed to be at the "forefront of setting the highest possible ethical standards".

LBMA responsible sourcing accreditation has allowed the Mint to put its name to exchange traded funds on the ASX and the New York Stock Exchange, which have won approval from ethical investment managers.

...

"This situation leads to significant questions and ultimately doubt around the efficacy of the LBMA's responsible sourcing policy, which responsible investors no doubt rely upon," he said.

Under the LBMA's responsible sourcing policy, refiners such as the Perth Mint commit to not buying gold which promotes conflict or human rights abuses, including child labour, and is sustainably sourced.

"Failure to adhere to the LBMA's responsible sourcing program will result in the removal of the refiner from the good delivery lists," the LBMA's chief technical officer, Neil Harby, said in a video explaining the policy.

(from https://www.afr.com/companies/minin...-sanctions-over-conflict-gold-20200612-p551wc)

"oh, you mean you don't want your gold to come from PNG child labourers under the aegis of a convicted killer?"

 

[InsvestoBoy]

It's an ETF and freshly minted, it's dependent on inflows. I hadn't seen any notification or advertising , apart from @qldfrog posting here.

The interesting bit will be to see how/ if it grows. Rule of thumb is that $100million is needed to be profitable for them.

This product will take a lot of inflows from all the other Perth Mint products that don't offer the same sourcing guarantees.

 

[Garpal Gumnut]

GG,

It saddens me that your snap judgement shows that the idea of irresponsibly sourced gold is beyond your conception.

The creation of this ETF is actually opportunism from Perth Mint in response to the below, responsibly sourced Australian origin gold as opposed to


(from https://www.afr.com/companies/mining/perth-mint-board-ignored-corruption-advice-20200617-p553ib)


(from https://www.afr.com/companies/minin...-sanctions-over-conflict-gold-20200612-p551wc)

"oh, you mean you don't want your gold to come from PNG child labourers under the aegis of a convicted killer?"

The quote said " Irresponsibly sourced Australian Gold ".

If it had said " Irresponsibly sourced Gold from child labour in PNG " I would of course had a different opinion.

I don't have the time to background each and every quote on ASF.

Slavery is abhorrent.

gg