Invesco lowers fee on Physical Gold ETC

TER now 0.19% per annum

Invesco has cut the fixed fee on its $7.6bn Physical Gold ETC to 0.19% per annum, as demand for gold continues to rise.

It said the reduced annual fee and a bid to offer spread of typically around two basis points meant the ETC now offered investors the lowest total cost exposure to the price of gold of any competing gold product in Europe. The product is designed to provide the performance of the gold price, less the annual fee, with investments used to purchase physical gold bars. Chris Mellor, head of EMEA ETF commodity product management at Invesco, said investors had been turning to gold to provide a "potential cushion" in case of equity market volatility, concerns about slowing global growth and ...