London (Platts)--17Dec2012/536 am EST/1036 GMT
S&P Dow Jones Indices said Monday it had licensed Mirae Asset Global Investments to create an Exchange Traded Fund, to be listed on the Korea Exchange, based on the S&P GSCI Cash Copper, a commodity-based index which tracks the value of copper. "The S&P GSCI Cash Copper seeks to track the return on an investment in physical copper on a daily basis by valuing the holding of physical copper, after taking into account the daily rent associated with storing the metal in a warehouse approved by the London Metals Exchange," it said in a statement. "We are proud to create the first physical copper ETF product in Asia Pacific region," said Joo Young Yun, Head of the ETF Division at Mirae Asset Global Investments.--Ben Kilbey, ben_kilbey@platts.com--Edited by Jeremy Lovell, jeremy_lovell@platts.comRequest a free trial of Metals DailyPlatts Metals Daily offers prices, news and analysis for the aluminum, copper and molybdenum value chains. It contains hundreds of metals prices across base, minor, light and precious metals assessed by editors globally. This detailed report will help you monitor global events and quickly spot opportunities or potential pitfalls as well as bring you aluminum and copper price and news coverage. Daily prices and news for molybdenum are also covered to deliver critical insights.
S&P Dow Jones Indices said Monday it had licensed Mirae Asset Global Investments to create an Exchange Traded Fund, to be listed on the Korea Exchange, based on the S&P GSCI Cash Copper, a commodity-based index which tracks the value of copper. "The S&P GSCI Cash Copper seeks to track the return on an investment in physical copper on a daily basis by valuing the holding of physical copper, after taking into account the daily rent associated with storing the metal in a warehouse approved by the London Metals Exchange," it said in a statement. "We are proud to create the first physical copper ETF product in Asia Pacific region," said Joo Young Yun, Head of the ETF Division at Mirae Asset Global Investments.--Ben Kilbey, ben_kilbey@platts.com--Edited by Jeremy Lovell, jeremy_lovell@platts.com
Platts Metals Daily offers prices, news and analysis for the aluminum, copper and molybdenum value chains. It contains hundreds of metals prices across base, minor, light and precious metals assessed by editors globally. This detailed report will help you monitor global events and quickly spot opportunities or potential pitfalls as well as bring you aluminum and copper price and news coverage. Daily prices and news for molybdenum are also covered to deliver critical insights.
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