Product description

The Invesco Physical Palladium ETC aims to provide the performance of the spot palladium price through certificates collateralised with physical palladium. Each Palladium ETC is a certificate, which is secured by physical palladium 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 vast majority of palladium is held in allocated palladium plates/ingots. Any residual value that cannot be split into standard palladium plates/ingots will be put into unallocated palladium. This is placed in a segregated account with J.P. Morgan Chase Bank acting as Custodian and Intertrust Trustees Limited as Trustee. The investment return is achieved by holding physical palladium, which is valued daily at the PM auction for the London Bullion Market Association ("LBMA") Palladium price. Invesco ETCs are exchange traded certificates and not funds or exchange traded funds.

Security Information

General information
Base currency USD
Dividend treatment None
Minimum investment 1 certificate
Launch date 13 Apr 2011
Certificates outstanding 30,690
Exchanges London Stock Exchange
London Stock Exchange
Further information
ISA Eligible
SIPP Eligible
UCITS Eligible
UK reporting status Yes
Passported to Austria, Belgium, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Norway, Portugal, Spain, Switzerland (Qualified investors only), Sweden, United Kingdom
Structure
Legal form Certificate (PD compliant)
Replication method Physical
Assets owned Physical Palladium
Domicile Ireland
Financial year end 31 December
Key service providers
Issuer Invesco Physical Markets plc
Portfolio administrator J.P. Morgan Administration Services (Ireland) Limited
Depositary J.P. Morgan Chase Bank N.A.
Trustee Intertrust Trustees Limited
Auditor PricewaterhouseCoopers
Promoter Invesco UK Services Limited

Key information

Bloomberg ticker SPAL LN
ISIN IE00B4LJS984
Benchmark BBG ticker PLDMLNPM
Fixed fee 0.39%
CV (6 Dec 2019) $180.98
Total assets outstanding $5,554,236
Base currency USD

Key risks

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

 

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.