ETF Securities is closing down its Asia physically backed gold exchange traded, but investors can still track the bullion market with the fund sponsor’s other option.
AGOL still held about $11.0 million in assets under management as of August 12, so some investors are still holding onto the ETF.
Under the Trust Agreement, shareholders may tender their Shares for redemptions electronically through the facilities of the Depository Trust Company to The Bank of New York Mellon until November 10, 2015. Shareholders may then receive the amount of unallocated gold represented by the tendered Shares.
A tendering shareholder may also incur a fee, charges and taxes, including a $500 transaction fee.
On the other hand, if you are still holding on to AGOL after November 11, the Trust will sell the remaining gold holdings in U.S. dollars and distribute it to shareholders based on the number of shares held. Transaction costs will be incurred by the Sponsor, but tendering shareholders will be subject to fees.