Sprott says new copper fund too small to pose market risk

will be too small to have an impact on global availability of the industrial metal, despite past controversy over attempts to launch similar products about a decade ago.

Funds that allow investors to buy and hold physical copper have faced criticism in the past. In 2012, US manufacturers petitioned the Securities and Exchange Commission and even went to court to try to block the launch of similar copper-backed funds proposed by BlackRock Inc. and JPMorgan Chase & Co., arguing the investment vehicles would leave less metal available, creating shortages and boosting prices. Both firms ultimately scrapped their plans.

“Having a fund that would be a fraction of that size is beneficial in terms of giving investors another way to invest in the market,” he said in an interview on Tuesday. “We’re not concerned about impacting or influencing the market to a great degree, given how large the market is.

پاکستان تازہ ترین خبریں, پاکستان عنوانات

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