Diamonds may soon become exchange-traded funds, according to the Wall Street Journal. GemShares, a financial company, is patenting its index for turning the commodity, which are difficult to price in a standard manner, into a tradable asset. Rich investors have 5% of their assets in diamonds, according to a survey by Barclays Wealth.
The diamond securities market will probably first lure producers and dealers of the jewels seeking to hedge against price drops, but in time, speculative or investment demand could be a possibility. GemShares has not yet determined when the securities will be ready, but the Journal predicts the ETFs could be selling by mid-2013.
For the full story.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Thought leadership on regulatory changes, economic trends, corporate success stories, and tactical solutions for treasurers, CFOs, risk managers, controllers, and other finance professionals
- Informative weekly newsletter featuring news, analysis, real-world case studies, and other critical content
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the employee benefits and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
