New Listing

Invesco launches sterling-hedged version of physical gold ETC

Tom Eckett

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Invesco has unveiled a sterling-hedged version of its physical gold exchange-traded commodity (ETC) following record demand for the precious metal, 

ETF Stream 

can reveal.

The Invesco Physical Gold GBP Hedged ETC (SGLS) is listed on the London Stock Exchange (LSE) with a fixed fee of 0.19% and a hedging cost of 0.25%.

SGLS will offer investors exposure to the price of gold in sterling.

Currency fluctuations can have a material impact on investors. For example, gold has risen 16.7% in H1 when converted to US dollars but 23.7% in sterling over the same period.

Chris Mellor, head of ETF Equity and commodity product management at Invesco, commented: “Many investors this year have told us they want exposure to the gold price but not the currency risk attached to a US dollar asset.”

Investors have piled into gold ETCs this year. In April, the Invesco Physical Gold ETC (SGLD) broke through the $10bn barrier amid concerns about the long-term impact of coronavirus.

Assets in SGLD currently sit at $11.8bn making it Invesco’s largest ETF in Europe.

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