Baer to bring physical gold fund onshore

Julius Baer plans to bring its Physical Gold fund onshore to widen access to British investors.

The fund, which buys gold bars that are stored in vaults in Switzerland, was launched in October 2008 and has seen inflows of Swfr700m (£423m) since then.

Stephen Moore, the head of UK sales at the asset management division in London, says: “It is growing so fast it is incredible. At the moment it is appealing to predominantly German and Swiss clients but we are trying to get a link through an insurance company in the Isle of Man to give UK investors access in the next four weeks.”

He adds that it is one of a few pure gold funds that does not use derivatives.