Product description

The Invesco Physical Gold GBP Hedged ETC aims to provide the performance of the spot gold price hedged into GBP, less fees. Each Gold ETC is a certificate which is secured by gold bullion held in J.P. Morgan Chase Bank’s London vaults. The issuer of the certificates, Invesco Physical Markets PLC (Invesco PMP), is an Irish-domiciled company administered by J.P. Morgan Administration Services (Ireland) Limited.

The investment return is achieved by holding gold bullion, which is valued daily at the London PM auction price. The ETC uses a hedging mechanism which is designed to reduce the exposure of the underlying precious metal (and hence the relevant certificates) to exchange rate fluctuations between US dollars and the currency in which the ETC is denominated. Gold bullion equal to at least the full value of the certificates will be held in an allocated account in the name of the issuer. The mark-to-market of the hedging mechanism is realised daily through the purchase or sale of physical gold to ensure the structure remains fully invested in gold. Invesco ETCs are exchange traded certificates and not funds or exchange traded funds.

Security Information

General information
Base currency GBP
Dividend treatment Continuously reinvested
Minimum investment 1 share
Launch date 9 Jul 2020
Certificates outstanding 591,000
Exchanges London Stock Exchange
Further information
ISA Eligible
SIPP N/A
UCITS Eligible
UK reporting status Yes
Passported to Austria, Belgium, Denmark, Finland, France, Germany, Hong Kong S.A.R., China (Institutional), Ireland, Israel (Institutional), Italy, Luxembourg, Netherlands, Norway, Portugal (Institutional), Spain, Sweden, Switzerland, United Kingdom
Structure
Legal form Certificate (PD compliant)
Replication method Physical
Assets owned Physical Gold
Domicile Ireland
Financial year end 31 December
Key service providers
Issuer Invesco Physical Markets PLC
Fund administrator J.P. Morgan Administration Services (Ireland) Limited
Portfolio administrator J.P. Morgan Administration Services (Ireland) Limited
Depositary JPMorgan Chase Bank, N.A.
Trustee Intertrust Trustees Limited
Auditor PricewaterhouseCoopers
Promoter Invesco UK Services Ltd

Key information

Bloomberg ticker SGLS LN
ISIN XS2183935605
Benchmark BBG ticker GOLDLNPM
Fixed fee 0.19%
FX Hedge Fee 0.25%
CV (21 Sep 2020) £45.02
Total assets outstanding £26,606,221
Base currency GBP
Umbrella AUM (21 Sep 2020) £11,239,990,760
Entitlement (21 Sep 2020) 0.030237779

Key Risks

The value of investments, and any income from them, will fluctuate. This may partly be the result of changes in exchange rates. Investors may not get back the full amount invested.

Instruments providing exposure to commodities are generally considered to be high risk which means there is a greater risk of large fluctuations in the value of the instrument.

If the issuer cannot pay the specified return, the precious metal will be used to repay investors. Investors will have no claim on the other assets of the Issuer.

Currency hedging between the currency in which the underlying precious metal is typically quoted and the currency of the certificates may not completely eliminate the currency fluctuations between those two currencies and may affect the performance of the certificates.

The performance information on this web page refers to past performance. Past performance is not a reliable indicator of future returns.

The data shown on this page is not real-time, i.e. it may be delayed due to mandatory requirements of the data provider. As a consequence, the price of the product linked to a specific underlying you are quoted by your broker or intermediary may substantially differ from the price of the product that you would expect on the basis of the data displayed on this site. Invesco accepts no responsibility for loss, however caused, resulting from errors in this data.

ETC performance is in the base currency, and is based on Net Asset Value after management fees. It does not consider commissions or custody fees payable when buying, holding or selling the ETC. The ETC does not charge entry or exit fees. Data: Invesco.

1. The daily precious metal entitlement is the amount of Fine Troy oz that is held as collateral for each certificate and decreases by the management fee which accrues daily. The total precious metal held is only reduced over a month when precious metal is sold to pay fees. The precious metal entitlement takes fees into account on a daily basis.
2. Total precious metal data up to date with last precious metal bar list appended to website.