Taking Australian gold to Wall Street
The Perth Mint, Australia’s largest precious metals refining, minting and depository enterprise, today announced the launch of the Perth Mint Physical Gold ETF (NYSE Arca: AAAU) trading on the New York Stock Exchange (NYSE).
AAAU is Australia’s first gold ETF to be traded on the NYSE and is the latest investment offering issued by The Perth Mint promoting the sale of gold produced by the Australian gold mining industry.
Committed to creating demand and developing markets for Australian precious metals, The Perth Mint’s launch of AAAU now provides a direct pathway for Australian-mined gold to be sold into the world’s largest financial market.
“Given the nature and scale of The Perth Mint’s operations, we were able to provide the physical infrastructure to develop AAAU. Bringing this world-leading gold product to market is the result of the collaborative efforts of several specialist parties,” said Richard Hayes, The Perth Mint’s Chief Executive Officer.
As a global leader in investment management and services, the Bank of New York Mellon (BNYM) was appointed as the fund’s trustee with the leading US-based investment advisory firm Exchange Traded Concepts as its administrative sponsor.
Unparalleled in the ETF space, AAAU offers several distinct features.
As the first ETF backed by physical gold which itself is guaranteed by a sovereign entity – the Government of Western Australia – each AAAU share represents ownership of 1/100th of an ounce of gold which is 100 percent secured by physical gold stored by The Perth Mint.
The unique guarantee of the physical gold backing the fund and the opportunity for investors to store their metal in one of the most secure central bank grade vaulting facilities in the southern hemisphere gives investors a new, accessible and cost effective way to invest in gold without the concern of storing the gold themselves.
Another key feature of AAAU is that shareholders may, at any time, exchange their shares for physical gold.
Shareholders may make their selection from the extensive range of premium bullion bars and coins offered by The Perth Mint and have it delivered to their door.
AAAU will also pay all its expenses in gold ounces, thereby minimising potential tracking errors to the gold price.
The trading of AAAU commenced in New York today at 9.30am (EDT), with Australian and other investors outside of the United States also being able to participate in the fund through an international brokerage account.
AAAU will also promote the potential investment benefits of gold, one of Australia’s most valuable and important export commodities.
“Australian gold has an international reputation for purity and ethical sourcing, with investors integrally participating in the success of a great Australian story,” Mr Hayes continued.
“In an increasingly uncertain and turbulent world, the case for gold remains compelling because it serves as a potential hedge against inflation, currency risk and stock market volatility.”
AAAU combines features of a contemporary investment vehicle with the backing of solid gold, which has held its purchasing power across centuries of economic and geopolitical upheaval.
Investors can learn more about the AAAU and access the funds holding list specifying all physical gold segregated and secured for AAAU investors at www.aaauetf.com.
The referenced guarantee does not apply to fluctuations in the value of shares based on the price of gold which could create potential losses.
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This material must be preceded or accompanied by a prospectus.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about the Perth Mint Physical Gold ETF (“Trust”), please call 1-844-880-3837 or visit our website at www.aaauetf.com. Read the prospectus or summary prospectus carefully before investing.
The Fund is not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder. The value of your shares fluctuates based upon the price of the gold held by the Trust. Fluctuations in the price of gold could materially adversely affect your investment in the shares.
Investors should be advised that there is no assurance that gold will maintain its long-term value in terms of U.S. dollar value in the future. In the event that the price of gold declines, the value of an investment in the shares is expected to decline proportionately.
Trust shares may trade at Net Asset Value or at a price that is above or below Net Asset Value. Any discount or premium in the trading price relative to the Net Asset Value per share may widen as a result of the different trading hours of NYSE Arca and other exchanges. Substantial sales of gold by central banks, governmental agencies and multi-lateral institutions could adversely affect an investment in the shares. Because the Trust invests only in gold, an investment in the Trust may be more volatile than an investment in a more broadly diversified portfolio. The lack of an active trading market for the shares may result in losses on your investment at the time of disposition of your shares.
The request for the exchange of shares for gold is subject to a number of risks including but not limited to the potential for the price of gold to decline during the time between the submission of the request and delivery. Delivery may take a considerable amount of time depending on your location. The Trust may suspend redemptions of baskets by authorized participants and Gold Corporation may suspend or reject the exchange of shares for physical gold, which could affect the market price of the shares. The withdrawal of an authorized participant and substantial redemptions by authorised participants may affect the liquidity of the shares.
Gold owned by the Trust may be subject to loss, damage, theft or restriction on access. Although the Trust does not insure gold held by the Custodian, the Custodian’s obligations in relation to gold owned by the Trust and held in safekeeping by the Custodian are subject to the Government Guarantee in the event the Gold is lost, damaged, or stolen.
If the Custodian becomes insolvent, its assets, and the assets of the Government of Western Australia under the Government Guarantee, may not be adequate to satisfy a claim by the Trust or any Authorized Participant.
Market Agent: Foreside Fund Services, LLC
The shares are neither interests in nor obligations of, and are not guaranteed by, the Sponsors (Gold Corporation and Exchange Traded Concepts, LLC), their member(s), or any of their affiliates. The shares are not insured by the Federal Deposit Insurance Corporation or any other governmental agency.
About The Perth Mint
The Perth Mint is the trading name of Gold Corporation, the Custodial Sponsor and Custodian of the Perth Mint Physical Gold ETF (NYSE Arca: AAAU). It is wholly owned and guaranteed by the Government of Western Australia.
The Perth Mint is Australia’s largest fully integrated precious metals refining, minting and depository enterprise. Its refinery is one of a select group globally that is accredited by the five major gold exchanges, being the London Bullion Market Association (LBMA), New York Commodities Exchange (COMEX), Shanghai Gold Exchange (SGE), Tokyo Commodities Exchange (TOCOM) and Dubai Multi Commodities Centre (DMCC). Processing more than 92 percent of the gold mined in Australia, the world’s second largest producer of gold after China, its total production capacity is in excess of 800 tons of gold per year.
The Perth Mint also operates the most extensive network of central bank grade vaulting facilities in the southern hemisphere, where it safeguards precious metals worth billions of dollars on behalf of investors. As one of Western Australia’s top five exporters, The Perth Mint distributes approximately USD 14 billion of precious metal bars and coins to more than 130 countries annually, which is equivalent to over 10 percent of the world’s annual gold production.
About Bank of New York Mellon
Established in 1784, Bank of New York Mellon (BNYM) is one of the longest-standing and largest financial institutions in the world and its credit ratings from all four major agencies (Moody’s, S&P, Fitch and DBRS) are consistently among the highest in the investment industry. With clients in more than 100 markets across the globe, BNYM has more than $33 trillion under custody and/or administration and $1.9 trillion in assets under management (as at 31 December 2017). BNYM is the industry's most experienced service provider for Exchange Traded Funds (ETFs), being named “Best Service Provider – The Americas” at the 13th annual Global ETF Awards in 2017 for the 11th consecutive year.
About Exchange Traded Concepts
Exchange Traded Concepts (ETC) is the leading investment advisor with a turnkey Exchange Traded Products (ETP) platform that provides time sensitive and cost-effective methods to bring an exchange-traded fund to market. Seasoned ETF professionals have the experience plus the industry expertise required to navigate the complexities of launching, marketing, distributing and managing an ETF. ETC provides firms with the guidance necessary to maintain full regulatory compliance. With 27 funds and more than $5.5 billion in Assets Under Management (AUM), ETC is the recognized leader in supporting firms develop intelligent investment solutions within the ETF universe for all types of asset classes.
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