Product description

The Invesco Physical Gold GBP Hedged ETC aims to provide the performance of the spot gold price hedged into GBP, less fees. Each Gold ETC is a certificate which is secured by gold bullion held in J.P. Morgan Chase Bank’s London vaults. The issuer of the certificates, Invesco Physical Markets PLC (Invesco PMP), is an Irish-domiciled company administered by J.P. Morgan Administration Services (Ireland) Limited.

The investment return is achieved by holding gold bullion, which is valued daily at the London PM auction price. The ETC uses a hedging mechanism which is designed to reduce the exposure of the underlying precious metal (and hence the relevant certificates) to exchange rate fluctuations between US dollars and the currency in which the ETC is denominated. Gold bullion equal to at least the full value of the certificates will be held in an allocated account in the name of the issuer. The mark-to-market of the hedging mechanism is realised daily through the purchase or sale of physical gold to ensure the structure remains fully invested in gold. Invesco ETCs are exchange traded certificates and not funds or exchange traded funds.

Trading information

London Stock Exchange
Trading currency GBX
Settlement period T+2
Exchange ticker SGLS
Bloomberg ticker SGLS LN
Reuters ticker SGLS.L
Valor 55528536
Sedol BLF0JQ0
Today (14 Aug 2020)
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Key information

Bloomberg ticker SGLS LN
ISIN XS2183935605
Benchmark BBG ticker GOLDLNPM
Fixed fee 0.19%
FX Hedge Fee 0.25%
CV (13 Aug 2020) £45.97
Total assets outstanding £551,594
Base currency GBP
Umbrella AUM (13 Aug 2020) £10,178,089,380
Entitlement (13 Aug 2020) 0.031007976

Key Risks


Instruments providing exposure to commodities are generally considered to be high risk which means there is a greater risk of large fluctuations in the value of the instrument.

If the issuer cannot pay the specified return, the precious metal will be used to repay investors. Investors will have no claim on the other assets of the Issuer.

Currency hedging between the currency in which the underlying precious metal is typically quoted and the currency of the certificates may not completely eliminate the currency fluctuations between those two currencies and may affect the performance of the certificates.



