All the gold held on behalf of AAAU is guaranteed by the Government of Western Australia within the Gold Corporation Act 1987. AAAU will pay all of its expenses in gold ounces and will not hold any cash, minimizing the potential for tracking errors.
Furthermore, AAAU investors may redeem shares for physical gold bullion through a three step process that will require direct contact with The Perth Mint, along with proof of identity and ownership. An investor would file for a delivery application, submit shares and then receive the physical gold. Orders less than $25,000 will be delivered via FedEx while larger orders will require a secured armored delivery vehicle.
The ETF is currently backed by 26,997.501 ounces of gold, with a market value of a little under $32.4 million with 2,700,000 shares outstanding.
Financial advisors who are interested in learning more about investing in gold can register for the upcoming Tuesday, September 11 webcast here