New copper fund revives controversial product

Sprott has launched a $100-million fund that will buy and hold physical copper, marking a comeback for a class of investment product that has in the past been highly controversial among investors and regulators. The new Sprott Physical Copper Trust started trading on the Toronto Stock Exchange on Thursday. Sprott, which already has successful funds backed by physical gold, silver, platinum, palladium and uranium, said in a prospectus that it would be “the world’s first physical copper fund.”