Millennium is leading a $70 million secondary share purchase in the equity of ETF Securities Limited (ETFS), an innovative provider of exchange traded funds (ETFs).

A spokesman for Millennium stated the move is an attempt to capture three long term trends that are driving the asset management industry:

  • The secular shift of institutional and retail investment assets into exchange traded products.
  • The trend toward more cost-effective, transparent and innovative products that provide access to and track important themes and sectors.
  • The emergence of commodities as an asset class of growing importance within diversified portfolios.

Thus far, ETFS has focused on commodities markets, and oversees several popular offerings. Its line-up includes ETFs focused on platinum, palladium, Swiss gold, silver, white metals and precious metals.

Tisha Guerrero contributed to this article.

The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.