Guggenheim Investments on Wednesday launched the first exchange traded fund designed to follow the Singapore dollar.
CurrencyShares Singapore Dollar Trust (NYSEArca: FXSG) holds actual foreign currency deposits rather than derivative instruments, the firm said. The ETF will rise when the U.S. dollar weakens relative to the Singapore dollar.
FXSG charges an annual expense ratio of 0.40%.
“We’re pleased to continue to expand our CurrencyShares line-up, and believe that the short-term tactical and long-term strategic opportunities in Singapore make it attractive,” said William Belden, managing director and head of product development at Guggenheim Investments. “CurrencyShares Singapore Dollar Trust provides investors an opportunity to potentially capitalize from the Singapore economy and positive movement in the Singapore dollar.”
The CurrencyShares ETFs, which now include nine funds with Wednesday’s launch, held $1.9 billion of assets at the end of 2012.
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