GBSP
WisdomTree Physical Gold - GBP Daily Hedged
WisdomTree Physical Gold - GBP Daily Hedged is designed to track the MS Long Gold British Pound Hedged Index (the "Index"). The product enables GBP investors to gain exposure to the gold spot price with a daily currency hedge against movements in the GBP/USD exchange rate.
WisdomTree Physical Gold - GBP Daily Hedged is an exchange traded commodity ("ETC"). Its securities can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company. WisdomTree Physical Gold - GBP Daily Hedged is backed by physical allocated gold held by JP Morgan Chase Bank, N.A. and the provision of a daily currency hedge by a FX counterparty. Only metal that conforms to the London Bullion Market Association's (LBMA) rules for Good Delivery can be accepted by the custodian. Each physical bar is segregated, individually identified and allocated.
WisdomTree Physical Gold - GBP Daily Hedged is an exchange traded commodity ("ETC"). Its securities can be created and redeemed on demand by authorised participants and traded on exchange just like shares in a company. WisdomTree Physical Gold - GBP Daily Hedged is backed by physical allocated gold held by JP Morgan Chase Bank, N.A. and the provision of a daily currency hedge by a FX counterparty. Only metal that conforms to the London Bullion Market Association's (LBMA) rules for Good Delivery can be accepted by the custodian. Each physical bar is segregated, individually identified and allocated.
*Formerly ETFS GBP Daily Hedged Physical Gold
Fund Overview
| Fund Overview | |
|---|---|
| Base Currency | GBP |
| Currency hedged | Yes |
| Daily Change (01 Apr 2020) | -0.20% |
| ISIN | JE00B7VG2M16 |
| Leverage Factor | N/A |
| Metals Lending | No |
| Physical delivery | No |
| Price (NAV) (01 Apr 2020) | £8.73 |
| Underlying Exposure | Physically backed with allocated metal subject to LBMA rules for Good Delivery and daily rolled currency forwards |
| Vault Inspector | Inspectorate International (Vault inspected 2x per annum) |
| Vault Location | London |
Net Asset Value
Structure
| Structure | |
|---|---|
| Domicile | Jersey |
| Replication method | Physical - backed by bullion |
| Home domicile regulator | Jersey Financial Services Commission |
| Legal form | Debt security |
| Legal structure | ETC |
Legal Tax
| Legal Tax | |
|---|---|
| ISA | Eligible |
| Sharia compliant | No |
| Securities regulator | Financial Conduct Authority (FCA UK) |
| SIPP | Eligible |
| UCITS Eligible | Eligible |
Key Service Providers
| Key Service Providers | |
|---|---|
| Custodian | JPMorgan Chase Bank, N.A. |
| Trustee | The Law Debenture Trust Corporation p.l.c. |
| Issuer | WisdomTree Hedged Metal Securities Limited |
| Registrar | Computershare Investor Services (Jersey) Ltd |
| Counterparty | Morgan Stanley & Co. International plc |
Fees
| Fees | |
|---|---|
| MER | 0.39% |
| Daily Swap Rate | 0.00071% |
| Entry / Exit fees | None when traded on Exchange |
Passported Countries
| Passported Countries |
|---|
 Austria |
 Denmark |
 Finland |
 France |
 Germany |
 Ireland |
 Italy |
 Netherlands |
 Norway |
 Spain |
 Sweden |
 United Kingdom |
Listings & Codes
Listings & Codes
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Performance
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i The above chart presents information about the difference between the daily market price for shares of the Fund and the Fund's net asset value. The market price is determined using the midpoint between the highest bid and the lowest offer on the listing exchange, as of the time that the Fund's NAV is calculated (usually 4:00 p.m. eastern time for most Funds). The vertical axis of the chart shows the premium or discount expressed as a percentage of mid-point.
Performance is total return based on the growth of a hypothetical 10K based unit value net of fees using daily NAV. Historical performance is not an indication of future performance and any investments may go down in value.
| Index Details |
|---|
MS Long Gold British Pound Hedged Index
Each individual GBSP security has an effective entitlement to gold. That entitlement is (i) adjusted by the currency hedge (upwards or downwards depending on currency movements) and (ii) reduced by the management fee and hedging costs. As a result, there is no cash component and the security maintains a direct relation to the value of the underlying precious metal in the relevant currency. The currency hedge is provided through arrangements with a FX counterparty (Morgan Stanley & Co International plc) who provide, on an unfunded basis, exposure to the Index which tracks in gold terms movements in the GBP/USD exchange rate. Authorised participants create and redeem GBSP securities by delivering or receiving gold that conforms to LBMA Good Delivery standards. GBSP securities are traded on exchange at a price that is based on the spot price of gold multiplied by the applicable metal entitlement.
Index Details
| Index Details | |
|---|---|
| Index Name | MS Long Gold British Pound Hedged Index |
| Index Provider | MSPM |
| Index Constituent Count | 1 |
| Currency | GBP |
| Bloomberg Ticker | MSCEGLDG |
| Reuters Index Ticker | .MSCEGLDG |
| Index Website | |
| Security | 31 Mar 2020 |
|---|---|
| 1. Physically backed with allocated metal subject to LBMA rules for Good Delivery and daily rolled currency forwards | 100.00% |
The products discussed in this document are issued by WisdomTree Hedged Metal Securities Limited (the "Issuer"). The Issuer is regulated by the Jersey Financial Services Commission. Investors should read the prospectus of the Issuer before investing and should refer to the section of the prospectus entitled ‘Risk Factors’ for further details of risks associated with an investment in the securities offered by the Issuer.
Securities issued by the Issuer are direct, limited recourse obligations of the Issuer alone and are not obligations of or guaranteed by any of Morgan Stanley & Co International plc, Morgan Stanley & Co. LLC and JP Morgan Chase Bank, N.A. any of their affiliates or anyone else or any of their affiliates. Each of Morgan Stanley & Co International plc, Morgan Stanley & Co. LLC and JP Morgan Chase Bank, N.A. disclaims all and any liability whether arising in tort, contract or otherwise which it might have in respect of this document or its contents otherwise arising in connection herewith.
The Morgan Stanley Indices are the exclusive property of Morgan Stanley & Co. LLC ("Morgan Stanley"). Morgan Stanley and the Morgan Stanley index names are service mark(s) of Morgan Stanley or its affiliates and have been licensed for use for certain purposes by WisdomTree Management Jersey Limited in respect of the securities issued by the Issuer. The securities issued by the Issuer are not sponsored, endorsed, or promoted by Morgan Stanley, and Morgan Stanley bears no liability with respect to any such financial securities. The prospectus of the Issuer contains a more detailed description of the limited relationship Morgan Stanley has with the Issuer and any related financial securities. No purchaser, seller or holder of securities issued by the Issuer, or any other person or entity, should use or refer to any Morgan Stanley trade name, trademark or service mark to sponsor, endorse, market or promote this product without first contacting Morgan Stanley to determine whether Morgan Stanley's permission is required. Under no circumstances may any person or entity claim any affiliation with Morgan Stanley without the prior written permission of Morgan Stanley.
Securities issued by the Issuer are direct, limited recourse obligations of the Issuer alone and are not obligations of or guaranteed by any of Morgan Stanley & Co International plc, Morgan Stanley & Co. LLC and JP Morgan Chase Bank, N.A. any of their affiliates or anyone else or any of their affiliates. Each of Morgan Stanley & Co International plc, Morgan Stanley & Co. LLC and JP Morgan Chase Bank, N.A. disclaims all and any liability whether arising in tort, contract or otherwise which it might have in respect of this document or its contents otherwise arising in connection herewith.
The Morgan Stanley Indices are the exclusive property of Morgan Stanley & Co. LLC ("Morgan Stanley"). Morgan Stanley and the Morgan Stanley index names are service mark(s) of Morgan Stanley or its affiliates and have been licensed for use for certain purposes by WisdomTree Management Jersey Limited in respect of the securities issued by the Issuer. The securities issued by the Issuer are not sponsored, endorsed, or promoted by Morgan Stanley, and Morgan Stanley bears no liability with respect to any such financial securities. The prospectus of the Issuer contains a more detailed description of the limited relationship Morgan Stanley has with the Issuer and any related financial securities. No purchaser, seller or holder of securities issued by the Issuer, or any other person or entity, should use or refer to any Morgan Stanley trade name, trademark or service mark to sponsor, endorse, market or promote this product without first contacting Morgan Stanley to determine whether Morgan Stanley's permission is required. Under no circumstances may any person or entity claim any affiliation with Morgan Stanley without the prior written permission of Morgan Stanley.