Six of the world’s leading platinum producers, announce the launch of a new industry entity, the World Platinum Investment Council (WPIC), which will work to develop the global market for platinum investment.
Anglo American Platinum, Aquarius Platinum, Impala Platinum Holdings, Lonmin, Northam Platinum and Royal Bafokeng Platinum will fund the WPIC to develop an active investment market for platinum, while making investment in platinum more accessible to a wide array of investors around the world.
WPIC will help institutional, high net worth and retail investors gain a better understanding of the platinum investment opportunity through the provision of independent data, information and insight. Over time, WPIC will also work with the financial services industry to support existing platinum products and create new investment products improving access to platinum’s investment benefits.
Speaking on behalf of its six members, Chris Griffith, the CEO of Anglo American Platinum, commented: “The World Platinum Investment Council has been formed to help investors make better informed decisions when it comes to physical platinum. We believe greater transparency, objective information and a broader selection of investment products will ultimately lead to a more sustainable platinum investment market.”
Paul Wilson is the WPIC’s chief executive officer. Mr Wilson was formerly an Advisory Partner of Bain & Company, the management consulting firm, and was responsible for its UK Financial Services practice. Mr Wilson is also Non-Executive Chairman of XL London Market Ltd and Non- Executive Director of Brewin Dolphin Plc.
Commenting on the launch, Paul Wilson said: “To date, the investment potential of platinum has been largely overlooked. We believe that presenting the platinum investment proposition to a wider range of investors will result in it rightfully being considered favourably as an investment. Platinum’s performance as an investment asset over the past 20 years supports this thesis.
“The World Platinum Investment Council’s initial priority will be to shed more light on the key drivers behind the platinum market’s fundamentals, as these are critical to the full appreciation of the platinum investment opportunity. We will do this by commissioning independent specialists to provide regular insightful data and analysis. We believe this increased insight will result in a broader base of investors considering platinum as a long-term investment.”
WPIC’s first quarterly analysis (Q3 2014) of global platinum supply and demand fundamentals, researched by SFA Oxford, a market specialist in metals and mining research, will be available shortly. Investors can subscribe to receive this data without charge on the organisation’s website: www.platinuminvestment.com