GAM says will use Trafigura's NEMS to store metal for funds

NEW YORK, June 27 Thu Jun 27, 2013 9:15am EDT

NEW YORK, June 27 (Reuters) - GAM Holding AG will store base metals for its new physical funds in facilities owned by North European Marine Services (NEMS), said a spokeswoman for Swiss & Global, a fund manager for bank Julius Baer and part of GAM Holding.

NEMS is a warehousing company owned by commodities trader Trafigura.

Switzerland's largest listed asset manager GAM Holding announced on Thursday plans to launch funds for industrial metals, backed by physical aluminum, copper, nickel and zinc.

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