ETPMPM

The physical metals for ETPMPM are held in the vault(s) of JPMorgan Chase Bank, N.A. in London. The vault is audited twice yearly by the auditor Inspectorate. All audit reports are made available in the resources section below. Each precious metal bar in the vault is itemised in a bar-list which is also available in the resources section below.

Each unit in ETPMPM comes with an entitlement to an amount of physical bullion. The entitlement to each metal is reduced daily by a management fee; 0.40% per annum for gold and 0.49% per annum for silver, platinum and palladium.

To redeem for the physical precious metals, an investor needs to:

1. Complete and send a redemption form.
2. Open an unallocated bullion account with an authorised bullion dealer.
3. Pay a redemption fee of $1,000 for each redemption.

Depending on the quantity of the order, investors may find that selling units in the secondary market is a more cost-efficient option, especially for small quantities.

The current weights for each metal in ETPMPM are shown in the Metal Entitlement file and are updated on a daily basis. ETPMPM does not rebalance, but the weight on each metal in Australian dollar terms will change as the prices of each of the metals moves.

Precious and industrial metals tend to have a low correlation to other traditional assets and therefore can be used to enhance a portfolio’s risk/return characteristics through diversification. alternative asset exposure. Precious and industrial metals can be viewed as alternative assets.

Rather than rely on the performance of one metal, ETPMPM is diversified across gold, silver, platinum and palladium. Each metal varies in having defensive and/or growth qualities.