Amundi lists Europe’s cheapest gold ETC on LSE

Amundi has listed its physical gold ETC on the London Stock Exchange, denominated in GBP.

The Amundi Physical Gold ETC (GLDA) is the cheapest gold ETC available in Europe with a total expense ratio (TER) of 0.15%.

It is also available on Euronext Amsterdam (GOLD), denominated in USD, as well as the Deutsche Boerse (GLDA) and Euronext Paris (GOLD) in EUR.

GLDA tracks the movements of the price of gold, backed by physical gold which is held in an HSBC bullion vault in London.

Gold-backed ETCs have seen significant inflows in 2020 during the coronavirus turmoil as investors seek haven away from volatile markets.

Since its inception in May 2019, GLDA has accumulated over $2.7bn assets under management.

Why gold ETP spreads widened to record levels amid coronavirus turmoil

Ashley Fagan (pictured), head of ETF, indexing and smart beta development for UK and Ireland at Amundi, commented: “Markets in 2020 have been volatile but gold has delivered as a safe-haven asset.

“In an environment marked by uncertainty, gold can be used by investors to diversify their portfolios and provide an important long-term hedge against market risks and inflation.”

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