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Alternative Market Briefing

Liquid diamond fund set to launch in 1Q-2014
Wednesday, September 18, 2013

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Guy Soskin Benedicte Gravrand, Opalesque Geneva for A Square:

A small number of investment professionals around the world are competing behind the scenes to turn diamond into a commodity that would be available to investors in the way that gold has been traded through funds on exchanges, reported the New York Times last year, just as the US SEC was reviewing a proposal to create a diamond-backed ETF.

"Diamond is the last uncommoditized commodity, and so it’s drawing in many organizations," Edahn Golan, the editor in chief of IDEX Online, a provider of diamond industry data, told the paper. The diamond market is known for its unclear valuations, however, and its sometimes difficult political context. Unlike gold and oil, says the paper, diamonds have not had much price volatility as they have not had large flows of speculative money. But that could change.

Opalesque has heard of one diamond fund that is getting ready to launch in the first quarter of next year: South African financial advisor Guy Soskin is in the process settting ......................

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