ABSA NewGold ETF is one of the largest privately held fund in gold in the world.
NewGold was listed on the ETF sector of the JSE Stock Exchange in 2004. Today, the fund is the largest ETF in South Africa. Since its listing, it has performed well as an investment, and out performed the South African Gold Mining Index.
Source from Absa. In May 2005 Barclays Bank of the United Kingdom purchased 56.4% stake in Absa. In early 2007 the Barclays Bank acquisition of Absa was criticised by governor of the South African Reserve Bank, Tito Mboweni who said he “had yet to see the benefits of Barclays’ management of Absa”. Absa NewGold physical gold was stored in South Africa and in early 2009 Absa appointed Brink’s Limited (Brink’s) as the safe custody custodian of NewGold’s gold bullion holdings. The reason for the change was according to Absa was the limitation in the safe custody capacity of the previous custodian, in light of significant increase in NewGold’s holdings of gold and the predicted continued growth of such holdings. NewGold was the largest ETF in South Africa with R8.7 billion under management in 2009. NewGold’s gold bullion has been transported to the safe vault premises of Brink’s in England where they have assumed physical control of the gold bullion with effect from 16 February 2009. Source : ABSA In 2013, Absa acquired the entire issued share capital of Barclays Africa Limited and issued 129,540,636 Consideration Shares to Barclays Africa Group Holdings Limited (a wholly owned subsidiary of Barclays) thus increasing the shareholding of Barclays Bank PLC to 62,3%. The Consideration Shares were listed on the JSE from the commencement of trading on 31 July 2013. The name change from “Absa Group Limited” to “Barclays Africa Group Limited” was announced on 22 July 2013, and became effective 2 August 2013. Source : Wikipedia In 2016 Barclays Bank PLC is selling it’s majority stake in share holding from Barclays Africa Group Limited ( Absa Group Limited ) Please refer to Fin24 Absa also owns the largest Exchange Traded Fund in the world in platinum. (Absa NewPlat ETF) This is also stored in England. When countries like Venezuela, Germany and others, are repatriating their physical precious metals from the US and England back home, will the Absa NewGold’s physical gold, and Absa NewPlat’s physical platinum, come back to South Africa from England? Documents from Barclays Africa Group ( Absa ) and Financial Services Board to view or download see below. NewGold Brochure : CISCA Circular No 19