Goldman Sachs Asset Management (GSAM) today announced that it has completed the previously-announced acquisition of the sponsorship of the Perth Mint Physical Gold ETF, which has been renamed the Goldman Sachs Physical Gold ETF (the “Trust” or “AAAU”). The Trust will continue to trade on NYSE Arca, Inc. under the ticker symbol “AAAU.”
The Goldman Sachs Physical Gold ETF provides the opportunity to invest in the Trust’s shares that reflect the price of gold less the Trust’s expenses at a competitively-priced 18 basis points. AAAU holds physical gold and seeks to provide investors exposure to the commodity and will now benefit from the global platform and resources of Goldman Sachs.
“We are pleased to complete this transaction and enter into this market, where we believe our size, scale and expertise can provide considerable value to investors,” said Michael Crinieri, GSAM’s Global Head of ETFs. “GSAM is committed to a thoughtful expansion of our ETF suite through high-quality products that meet unique investor needs, and Goldman Sachs Physical Gold ETF is an exciting addition to our product roster.”
GSAM is now the sole sponsor of the Trust and has retained JPMorgan Chase Bank, N.A., London branch, as the Trust’s new custodian. The Bank of New York Mellon will continue to serve as the trustee of the Trust.