Mon, 19/05/2014 - 10:10
Merk Investments has entered the exchange-traded fund market with the launch of the Merk Gold Trust, a deliverable gold ETF.
Merk Gold Trust shares will trade on the NYSE Arca under the symbol OUNZ.
The Merk Gold Trust provides investors with the opportunity to buy and hold gold through an ETF with the option to take delivery of physical gold if and when desired.
The Merk Gold Trust holds gold bullion as allocated “London Bars” vaulted in London. OUNZ shareholders own a pro-rata share of the gold held by the trust.
Investors have the option to take delivery of their gold in exchange for their OUNZ shares. If and when desired, investors may request delivery of the London Bars held by the trust, as well as exchange their shares for gold coins (or bars) that are more commonly desired by individual investors.
Typically, taking delivery of gold is not a taxable event, as investors are merely taking possession of what they already own: their gold.
As an ETF, OUNZ seeks to track the price of gold less the expenses of the trust’s operations.
“We believe we have revolutionised commodity investing by bridging the world between institutional and individual investors. Gold investing will never be the same, as investors may now buy gold with the ease of an ETF, but also have the option to take delivery of their gold when they want, where they want, in the form they want,” says Axel Merk, president and chief investment officer of Merk Investments.
James Machuga, Merk’s vice president for advisor services, says: “We believe OUNZ will not only be embraced by retail investors, but gives advisors and institutional investors the opportunity to assure their clients that their gold is deliverable.”
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