Matterhorn Asset Management, the Swiss asset manager that owns precious metals company GoldSwitzerland, has expanded its vaulting network with the opening of new facilities in Hong Kong and Singapore, the firm said in a statement.

GoldSwitzerland, which has vaults in Zurich and the Swiss Alps, will starting 1 October 2013 store precious metals in Asia's top two financial hubs. Matterhorn acts as facilitator for investors who can buy and sell gold and silver, as well as transfer existing holdings. It also advises clients on their precious metals strategies. The metals are held in the name of the investor who, thus, has sole control of the investment. 

The move comes as Singapore, for example, has developed as a centre for holding precious metals and other valuables in its Freeport, highlighting how the control of such hard assets is seen as an important wealth management service at a time of concerns about the global economy.

Matterhorn began its Precious Metals Investment Program in 2002 and chooses vault locations according to the five criteria: It is a politically safe and economically sound country; the vault storage is outside the banking system; the vault is away from any type of direct government control; the vault is with the highest security and is in a most secure location; and the investor has direct control and access to the metals.

The company recommends investors to hold up to 50 per cent of the financial assets in physical gold stored in private vaults outside the banking system. The total minimum investment in gold accepted is around 200 ounces. The minimum per vault is 100 ounces of gold.