Industry Updates

Amundi throws down gauntlet to rivals with latest gold ETP fee cut

Tom Eckett

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The war on fees in the gold ETP space is hotting up after Amundi became the latest issuer to cut charges on its precious metal product.

Effective 27 February, the Amundi Physical Gold ETC (GOLD) has seen its total expense ratio (TER) cut by four basis points to 0.15% making it the cheapest gold ETP available on the European market.

The move comes just weeks after Invesco reduced the fee on its physical gold ETC by five basis points to 0.19%.

This made it the joint-cheapest alongside BlackRock, WisdomTree and Amundi’s ETPs before the French asset manager reduced its fee late last month.

Launched in May last year, GOLD has gathered $1.7bn assets since launch, a sign investors have been allocating to the precious metal amid concerns about the long-term health of the global economy.

Highlighting this, gold ETF assets hit all-time highs in February following $4.9bn inflows over the month, according to the World Gold Council.

GOLD tracks the performance of the gold spot price and is backed by physically allocated gold stored by HSBC.

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