How do you hold yours? BULLIONROCK hosts precious metals investing seminar

| December 11, 2013 | 0 Comments
L-R: Metalor Technologie UK managing director Steve Burling, Trust Corporation managing director Mike Betley, BULLIONROCK managing director Robin Newbould and Head of Tax for KPMG Guernsey Tony Mancini

BULLIONROCK recently hosted a breakfast seminar to address the question: what should trustees be considering when investing in precious metals for their clients?

Chaired by Trust Corporation managing director and Guernsey Association of Trustees chairman, Mike Betley,  the ‘How do You Hold Yours?’ seminar was aimed primarily at trustees but was also attended by investment managers and other intermediaries that manage client portfolios.

BULLIONROCK’s managing director, Robin Newbould, said the event was designed to demonstrate the importance of precious metal investment as part of diversification within client portfolios.

Mr Newbould was joined by industry experts who provided a rare insight into the world of precious metals. Metalor Technologie UK managing director, Steve Burling, discussed how the metals get from the ground to the refined and certificated ‘investment grade’ stage.

Head of Tax for KPMG Guernsey, Tony Mancini, discussed the tax implications that trustees and intermediaries might need to consider when holding precious metals for their clients and looked at the unique tax advantages of the island that made Guernsey the ideal place to store bullion as well as providing an understanding of the tax treatment of the most common forms of precious metal investment.

Mr Newbould said:  “Intermediaries and investment houses have tended to invest in gold in the form of unallocated ounces and exchange-traded commodities rather than physical bullion but we believe they should also consider bars and coins for their clients.

“Guernsey has a unique combination of elements that make it the perfect place to buy and store precious metals.”

The seminar echoed many of the messages given by Mr Newbould in his recent video

BULLIONROCK donated £2 for every delegate to Male Uprising Guernsey (MUG); the charitable trust that aims to increase awareness of male cancers and to help those who are affected by prostate, bowel and testicular cancer.

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