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ZKB precious metals ETFs are globally unique!ZKB precious metals ETFs are globally unique!
6th BAC Platinum DayMarch 2008
Why choose commodities?yBest asset class with inflation protection
Long-term development of commodities prices
Why commodities?yAttractive supply and demand situation
Supply10 years of underinvestmentSupply is not elastic Strong industry consolidationStrong industry consolidation
DemandIndustrialisation China & IndiaMonetary policyPopulation growth
Why commodities?yInflation protection and portfolio optimisation
Inflation protection
Long-term development of commodities pricesand change in interest rates
Inflation protection
Portfolio optimisation due to negative correlation
Best asset class in equity andBest asset class in equity and bond market downturns
Increasing interest rates (rhs: change over 10 years)
Increasing commodity prices (lhs: average annual rate of change over 10 years)
Source: "Historical Statistics of the United States, Colonial Times to 1970", a U.S. Census Bureau publication, and other U.S. Census Bureau or BLS data & Louise Yamada Technical Research Advisors, LLC
Why precious metals?y pZKB Platinum ETF
Platinum (USD/ounce)
2000
2500
Attractive supply and demand situationHigher environmental standards for
1000
1500Higher environmental standards for carsRising car sales in developing
500countries
0
1976
1979
1982
1985
1988
1991
1994
1997
2000
2003
2006
London Platinum Free Market USD/Troy oz Source: DatastreamLondon Platinum Free Market USD/Troy oz Source: Datastream
ZKB ETFs are the way to goy gThe successful ZKB precious metals ETFs
Client Needs March 06 Successful creation of the
No issuer riskPhysical coverage
ZKB Gold ETF (> CHF 1 Bn)
May 2007Payment in kind
May 2007ZKB Platinum ETF (> CHF 100 m)ZKB Palladium ETF (> CHF 200 m)( )ZKB Silver ETF (> CHF 270 m)
ZKB ETFs are the way to goy gA passive instrument with active benefits
Investment volume CHF 500 m
ProcurementCustodyCustodyValuation
Weighting VATg g
ZKB ETFs are the way to goy gZKB ETF setup is one of a kind
AAA-rated bankPhysical coverage ~100%Payment in kindPayment in kindNo lendingNo repurchase transactions
We offer more than others!
pNo derivative financial instrumentsNo borrowing and granting loans
We offer more than others!No encumbrance of the fund’s assetsNo issuer riskNo issuer riskListed on the SWXVAT managementOpen-ended format
ZKB ETFs are the way to goy gSelling units - payment in kind
Traded on the SWX Can be redeemed at any time at
As secure as a safe!
Can be redeemed at any time at NAVCan be redeemed against cash or
As secure as a safe!payment in kind (subject to VAT)
SummarySummary
AAA-rated bankNo issuer risk
The only instrument of its kind in
No issuer riskNo leveragePhysical coverage and payment y
the world!y g p y
in kindListed on the SWX
Contact information
Tashi GumbatshangHead Sales & Distribution Investment Funds, Member of Senior ManagementTashi Gumbatshang holds a bachelor in business administration of the university of applied sciences in banking & finance. Moreover, he has the i t ti l di l C tifi d I t ti l W lth M CIWM (AZEK) H k d ith C dit S i Mi b k th V t b l Ginternational diploma Certified International Wealth Manager CIWM (AZEK). He worked with Credit Suisse, Migrosbank an the Vontobel Groupin various positions in investment business and management. From 2004 to 2006 he had been responsible for wholesale investment funds and successfully established the division Investment Advisory. At present he is Head of Product Management and Head of Wholesale Investment Funds.
[email protected], +41 44 292 28 87
Franz C. GörresSenior Relationship Manager, Member of Senior ManagementFranz Görres has over 25 years experience within the investment industry. He started with UBS as a Client Relationship Manager and Marketingy p y p g gOfficer for institutional mandates. Then he spent several years at Vontobel Group as Head of Marketing Investment Funds and Fund Research.Since 2005 Franz Görres was in charge of ClaridenLeu Bank as Director of investment fund sales and distribution.
[email protected], +41 44 292 25 02
AppendixppFacts & Figures
ZKB Gold ETF ZKB Silver ETF ZKB Platinum ETF ZKB Palladium ETF
Security number 2’439’100 2’979’271 2’979’270 2’979’268
ISIN CH0024391002 CH0029792717 CH0029792709 CH0029792683
Smallest unit (weight per unit)
CHF 32’185 (approx. 1 kg)
CHF 19’835 (approx. 30 kg)
CHF 36’165(approx. 0.5 kg)
CHF 17’450(approx. 1kg)
Management fee 0.4% 0.6% 0.5% 0.5%
Launch date 15 March 2006 10 May 2007 10 May 2007 10 May 2007
Payment in kind approx 1kg gold approx 30 kg silver approx 5 kg platinum approx 3 kg palladiumPayment in kind(standard bar weight)
approx. 1kg gold approx. 30 kg silver approx. 5 kg platinum approx. 3 kg palladium
Volume in Swiss Francs 1’025’708’176.70 274’099’160.00 100’329’540.00 202’354’236.00
Volume in kg 31'100.92 403’087.00 1’344.90 10’361.20g
Volume in ounces 999'917.51 12’959’546.34 43’239.53 333’120.27
March 2008
DisclaimerDisclaimer
This presentation does not constitute an offer or an invitation to purchase in relation to the Fund and is not a prospectusto the Fund and is not a prospectus.Full details can be found in the prospectus, the simplified prospectus and the fund regulations, which can be obtained free of charge from the custodian bank (Zurich g g (Cantonal Bank) or from the fund management company (Balfidor Fondsleitung AG).These Funds are only intended for sale in Switzerland and may not be sold abroad.
