Goldman Sachs Asset Management Announces Transfer of Goldman Sachs Physical Gold ETF to Cboe BZX Exchange
NEW YORK–(BUSINESS WIRE)–Goldman Sachs Asset Management, sponsor of the Goldman Sachs Physical Gold ETF (“AAAU” or the “Trust”) today announced the transfer of the Trust’s listing from NYSE Arca to the Cboe BZX Exchange on or about February 3, 2022.
Current AAAU shareholders are not required to take any action, and the transfer is not expected to affect trading in the Trust’s shares.
For more information on Goldman Sachs Physical Gold ETF, please visit our webpage.
About Goldman Sachs Asset Management
Combining traditional and alternative investments, Goldman Sachs Asset Management offers clients around the world a dedicated partnership and a focus on long-term performance. As a primary investment area within Goldman Sachs (NYSE: GS), we provide investment and advisory services to the world’s leading institutions, financial advisors and individuals, leveraging our deeply connected global network and on tailored expert insights, across all regions and markets, overseeing over $2 trillion in assets under supervision globally as of December 31, 2021. Driven by a passion for the performance of our clients, we seek to build long-term relationships based on conviction, lasting results and shared success over time. Follow us on LinkedIn.
1Assets under supervision (AUS) includes assets under management and other client assets over which Goldman Sachs does not have full discretion. AUS figure as of December 31, 2021.
Nothing contained herein should be construed as an offer to sell or a solicitation of an offer to buy Shares of the Trust. This document must be preceded or accompanied by a current prospectus (the “Prospectus”) of the Trust. CLICK HERE for a copy of the prospectus. Investors should read the prospectus carefully before investing. You should obtain your own independent financial, tax and legal advice before making any decision regarding any investment in the Shares. This information does not constitute an offer of Shares and should not be used as the basis for any investment decision.
Effective the close of business on December 11, 2020, Goldman Sachs Asset Management, LP became the Trust’s sponsor, assuming the role of the Trust’s previous sponsors. At this time, the name of the Trust was changed from Perth Mint Physical Gold ETF to Goldman Sachs Physical Gold ETF.
Investing involves risk, including possible loss of principal. Because the Shares are intended to reflect the price of gold held by the Trust’s custodian on behalf of the Trust, the market price of the Shares is subject to fluctuations similar to those affecting gold prices. . Further, Shares are bought and sold at market price, not net asset value (“NAV”) per share. Shares may trade at the net asset value per share or above or below the net asset value per share. Any discount or premium in the trading price to the net asset value per share may widen due to different trading hours of NYSE Arca and other exchanges. Brokerage commissions/fees will reduce returns. For a more complete discussion of the risk factors relating to the Trust, read the prospectus carefully.
The value of the Shares fluctuates with the price of gold held by the Trust. Fluctuations in the price of gold could have a material adverse effect on investment in the Shares. Investors should be aware that there is no assurance that gold will maintain its value over the long term in the future. The absence of an active trading market for the Shares may result in investment losses upon disposal of the Shares. Since the Trust only invests in gold, an investment in the Trust may be more volatile than an investment in a more broadly diversified portfolio. Substantial sales of gold by central banks, government agencies and multilateral institutions could adversely affect an investment in the Shares. In addition, if the speculative community had a negative view of gold, it could cause global gold prices to decline, which would negatively impact the price of the Shares.
The amount of gold represented by the Shares will decrease over the life of the Trust due to gold sales required to pay sponsor fees and Trust expenses. If the price of gold does not rise enough to compensate for this decline, the price of the Shares will also fall and investors will lose money on their investment. Liquidation of the Trust may occur at a time when disposal of the Trust’s gold will result in losses to investors. Although market makers generally profit from differences between net asset value and stock price through arbitrage opportunities, there is no guarantee that they will. The value of the Shares will be adversely affected if gold held by the Trust is lost, damaged, destroyed or misdelivered in circumstances where the Trust is unable to recover the corresponding loss. The Trust is a passive investment vehicle.
The Trust is not a standard ETF. The Trust is not a registered investment company under the Investment Company Act 1940 and is not required to register under that Act. The Trust is not a commodity pool for the purposes of the Commodity Exchange Act of 1936, and Goldman Sachs Asset Management, LP, as sponsor of the Trust (the “Sponsor”), is not regulated of the Commodity Futures Trading Commission as a commodity pool operator or commodity trading adviser under the Commodity Exchange Act in connection with the Shares. As such, the Trust is not subject to the same regulatory requirements as mutual funds. An investment in Shares is not suitable for all investors.
The Shares are not interests or obligations of Sponsor and its affiliates, and are not insured by the Federal Deposit Insurance Corporation or any other government agency. Although Shares may be bought or sold on the secondary market through any brokerage account, Shares are not redeemable from the Trust except in large aggregate units called “Baskets”. Only registered dealers who become Authorized Participants by entering into an agreement with the Promoter and Trustee of the Trust may purchase or redeem Baskets. The net asset value is determined as specified in the prospectus: the Trustee values the Trust’s gold on the basis of the LBMA Gold Price PM.
ALPS Distributors, Inc. is the Trust’s marketing agent. ALPS Distributors, Inc. is not affiliated with Goldman Sachs Asset Management.
Goldman Sachs does not provide accounting, tax or legal advice.
© 2022 Goldman Sachs. All rights reserved
NOT FDIC INSURED. MAY LOSE VALUE. NO BANK GUARANTEE. NOT INSURED BY ANY GOVERNMENT AGENCY.
ALPS inspection: GOL120 ED 19/01/23
Compliance code: Compliance Code: 265211-OTU-1540111 Date of first use: 19/01/2022