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Lord Rothschild fund joins World Gold Council to put £12.5m into BullionVault

Posted By admin On June 22, 2010 @ 4:22 am In World News | Comments Disabled

Garry White
London Telegraph [1]
June 22, 2010

An investment fund backed by Lord Rothschild has joined the World Gold Council to put £12.5m into BullionVault, the online gold investment platform.

Tim Levene of Augmentum Capital, a fund backed by Lord Rothschild’s RIT Capital Partners, said the investment was not a bet on the gold price but on “the future growth of the BullionVault platform”, which stores physical gold for private clients in London, New York and Zurich. RIT currently has 9pc of its assets in physical gold.

Investment demand for the metal has risen on concerns that sovereign debt problems could spread and the value of currencies plunge. The gold price hit a new nominal all-time high above $1,260 on Friday and analysts expect the price will continue to rise.

In return for the £12.5m investment, the World Gold Council and Augmentum will receive an equity stake in BullionVault.

Marcus Grubb, managing director of investment at the World Gold Council, said taking the BullionVault stake was part of the Council’s strategy of “increasing its portfolio of successful platforms for gold investment”. Mr Levine and Mr Grubb will join BullionVault’s board.

Full article here [1]

Lord Rothschild fund joins World Gold Council to put £12.5m into BullionVault 150410banner1 [2]

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URLs in this post:

[1] London Telegraph: http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/7842235/Lord-Rothschild-fund-joins-World-Gold-Council-to-put-12.5m-into-BullionVault.html

[2] Image: http://infowars-shop.stores.yahoo.net/inemnewwoord.html

[3] Rothschild Said to Start Fund; Chairman’s Son Joins: http://www.prisonplanet.com/rothschild-said-to-start-fund-chairman%e2%80%99s-son-joins.html

[4] World Gold Council Releases Q4 And 2009 Gold Demand Trends Report: http://www.prisonplanet.com/world-gold-council-releases-q4-and-2009-gold-demand-trends-report.html

[5] World Gold Council to CFTC: Don’t mess with paper gold: http://www.prisonplanet.com/world-gold-council-to-cftc-dont-mess-with-paper-gold.html

[6] BullionVault.com Runs Out Of Silver In Germany: http://www.prisonplanet.com/bullionvault-com-runs-out-of-silver-in-germany.html

[7] Gold fund’s holdings jump on rush to bullion safety: http://www.prisonplanet.com/gold-fund%e2%80%99s-holdings-jump-on-rush-to-bullion-safety.html

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