NewGold Issuer Limited is an investment holding company managing NewGold Exchange Trade Fund which is a Sharia-complaint exchange traded fund (ETF) lunched by ABSA Capital. The fund allows institutional and retail investors the opportunity to invest in commodity markets and gold bullion.
The fund has proven to be one of the best performing assets for long term and tactical investors, particularly during these times of global economic uncertainty.
NewGold Exchange Traded Fund was lunched in 2004 and is domiciled in South Africa. At the time of its lunch, it was the third commodity ETF in the world and, until recently, the only commodity ETF listed on the Johannesburg Stock Exchange (JSE). It has listings on stock exchanges in Botswana, Nigeria, Namibia and Ghana, and secondary listed on Uganda Stock Exchange (USE), Mauritius (SEN) and Zambia Stock Exchange (LuSE). ABSA listed NewGold on the Ghana Stock Exchange in August 2012 as NewGold (GLD).
While investors in Ghana continue to be fixed on government securities and chasing high yields in other investments, Barclays said NewGold presented a commendable approach to portfolio diversification and offered a great investment opportunity to sophisticated retail investors, asset and pension funds managers, among others. NewGold is marketed by Barclays Bank also known as Absa in Ghana and can be acquired through a licensed stockbroker on the Ghana Stock Exchange (GSE) or IC Securities Ltd – the local market maker.