PureFunds ISE Junior Silver ETF: Exposure to Silver Explorers and Junior Producers
Silver Investing News spoke with Andrew Chanin, co-founder of PureFunds, about the PureFunds ISE Junior Silver ETF, the only exchange-traded fund that aims to hold silver explorers and junior silver producers.
Last week, Silver Investing News (SIN) published 5 Silver ETFs at a Glance, an article that takes a look at a number of different silver-focused exchange-traded funds (ETFs) worth taking a look at. To get a better understanding of the PureFunds ISE Junior Silver ETF (ARCA:SILJ), one of the ETFs that made the list, SIN got in touch with Andrew Chanin, co-founder of PureFunds. In the interview below, Chanin explains what place the PureFunds ISE Junior Silver ETF holds in the overall ETF picture, also touching on what companies the ETF tracks and how those companies are selected. In closing, he offers his opinion on where the silver price is headed in 2014. SIN: What led you to create the PureFunds ISE Junior Silver ETF? How does it fit into the overall ETF picture?AC: I got my start off in finance right out of school, trading as a clerk on the floor of the American Stock Exchange with one of the largest ETF specialist firms at the time. As lead marketer, I started being given many new issues of ETFs being launched. The popular ETF concepts that were launching were natural resource ETFs, so I started learning a lot more about natural resources. As I stumbled upon the precious metals, I really dug into silver and found a great interest in it. While still trading ETFs, I was speaking with different issuers to try to get them to bring other natural resource equity ETFs to market so that I could trade them. Eventually I decided that there were so many different ETF concepts I wanted to see that I should try to bring them to market myself.