World’s largest gold ETF cleared for HK pensioners

State Street Global Advisors (SSgA) has received regulatory approval to allow Hong Kong MPF scheme providers to invest in its gold exchange-traded fund, coinciding with a tumble in bullion prices. Workers contributing to the city’s Mandatory Provident Fund (MPF) can now gain exposure to the world’s largest gold bullion-backed ETF (and second largest ETF globally), which had $72 billion in AUM as at December. Providers are now able to invest up to 10% of their MPF allocations int…