A Deeper Look At the World of Diamonds
Paul Zimnisky currently creates and develops new exchange-traded products as CEO of PureFunds. This past November, PureFunds launched three innovative ETFs, including the world’s first ETF to exclusively invest in the diamond and gemstone industry; it is traded on the NYSE Arca under the symbol GEMS. Prior to PureFunds, Paul worked as a buy-side equity analyst focused on the metals and mining space, and as an ETF arbitrage trader [for more commodity news and analysis subscribe to our free newsletter].
Diamond ETF GEMS Hits The Market
FactorShares, an ETF provider that was recently acquired by GenCap Ventures, has debuted the first ever ETF to focus on diamonds and gemstones. The PureFunds ISE Diamond/Gemstone ETF (GEMS) invests in a handful of firms that produce and sell diamonds/gemstones, making this fund one of a kind. The GEMS fund has been in the works for some time now, as several issuers were jockeying to release the first Diamond fund, but FactorShares beat everyone to the punch [for more diamond news and analysis subscribe to our free newsletter].
