Anglo Far-East Custodial Company Selected as Precious Metals Agent for New Luxembourg-Regulated Physical Gold Fund

LUXEMBOURG, March 21, 2011 /PRNewswire/ -- Anglo Far-East Custodial Company (AFECC) has joined ABN Amro, Las Bovedas Corporation SARL, and Luxembourg Fund Partners to launch a new physical gold fund regulated by the CSSF.

Under the Terms of Agreement, AFECC will provide all background logistics of acquisition, transport, auditing, safe storage and liquidation of the physical gold bars backing the Fund.

The Precious Metals Fund – LFP Prime SICAV SIF S.A. (Physical Gold Fund) won regulatory approval on March 15, 2011, and is listed under ISIN LU0596820836 for Class A and LU0596823269 for Class I shares.

"We are thrilled to be the Precious Metals Agent for this revolutionary new Fund," said Anglo Far-East's Founding Director Philip Judge. "We recognized the need for funds and institutions that wanted to back their offerings with physical precious metals in purely allocated bar form. This custodial governance model eliminates counterparty risk like you may have from the way other products have been structured in the past. Because of our experience and expertise in this area, AFECC is in the ideal position to provide the needed support to the Fund."

"This Fund's physical asset holding provides the lowest storage and insurance risk profile for a Gold Fund. Due to its structure, with this Fund the metal is not held or vaulted by an entity that may have positions in financial markets or OTC Derivative risks," commented AFECC's Treasury Director Simon Heapes. "This gives the benefit of guarding the Fund against a systemic domino effect in the economy which has become a concern for many investors in recent times. This unique custodial governance system was designed to closely reflect the time proven system Anglo Far-East has developed and successfully used for nearly two decades now that we refer to as the Chain of Integrity."

About AFE Custodial Company -

AFE Custodial Company (AFECC) is part of the Anglo Far-East group of companies and provides bullion logistics support to institutions, funds and trusts in the market of good delivery allocated gold and silver bullion. AFECC handles the full range of acquisition, storage and liquidation of good delivery metal on behalf of its clients. www.anglofareast.com/afecc

About ABN Amro -

ABN AMRO Private Banking is the international wealth-management division of ABN AMRO Bank with EUR 150 bln of total assets under management offering more than 120,000 high-net-worth individuals a full range of banking, investment management, financial and estate planning products and solutions. Our domestic and international offices in 13 markets worldwide employ over 4,000 professionals. We rank among the top 10 private banks in Europe and enjoy a strong position in Asia. www.abnamroprivatebanking.com

About Luxembourg Fund Partners S.A. -

Luxembourg Fund Partners S.A. is a bespoke independent advisory firm offering comprehensive and tailored solutions integrated through financial products of the Grand Duchy of Luxembourg. LFP is a market leader in the Fund industry and expert in building, administrating and managing Regulated Investment Funds and Investment Structures on behalf of private and institutional clients. www.lfp.lu

SOURCE Anglo Far-East Custodial Company