The World's Largest Gold Fund Is Getting a Cheaper Little Brother
By GCRU Gold News on Friday, June 15 2018, 02:44 - Permalink
The World Gold Council is readying a new fund that will charge less than any other gold ETF, regulatory filings show. It will vie for assets with 35 other precious-metals exchange-traded products in the U.S., including SPDR Gold Shares
known by its ticker GLD the $35 billion market leader, which the council also started.
Investors will soon be able to get a piece of that action for a lower price. The SPDR Gold MiniShares Trust, which will trade as GLDM, will cost just 18 basis points in management fees, or $1.80 for every $1,000 invested, the filings show. By comparison, GLD charges $4 for every $1,000 invested.
The fund will also start trading with a significantly lower share price than GLD, allowing investors to buy in smaller increments, the documents show.