Fastest-Growing Gold ETF Using Fee War to Redefine Industry
- CEO sees ‘drastically different’ model for ETF investors ahead
- Value jumped to $458 million from $12 million a year earlier
Photographer: Carla Gottgens/Bloomberg
This article is for subscribers only.
Will Rhind has seen the top of the gold market, and the bottom. Now, the leader of the fastest-growing bullion-backed ETF in the past year is redefining it by forcing down the fees paid by investors.
Rhind, 39, joined the World Gold Council, the company behind SPDR Gold Shares, in 2007, just as exchange-traded funds were starting to gain investor attention. He watched assets hit an all-time high in 2012, followed by a shift in sentiment that sent the precious metal plunging to a bear market one year later.