Market Overview

The Perth Mint Physical Gold ETF Recruits Commodity ETF Authority Kevin Rich To Support Distribution


NEW YORK, June 20, 2019 /PRNewswire/ -- Exchange Traded Concepts, LLC ("ETC") — a leader in providing white-label exchange traded fund (ETF) solutions — in conjunction with The Perth MintAustralia's largest fully integrated precious metals refining, minting and depository enterprise — announces a key sales recruit for the Perth Mint Physical Gold ETF (NYSE:AAAU) with the addition of Kevin Rich, an industry veteran who will bolster the distribution efforts for the ETF.

As a consultant for The Perth Mint, Rich will spearhead various business development initiatives that focus on product development and sales. Among his responsibilities will be to work with major banks and asset managers to customize products, including commodity funds which incorporate AAAU, utilizing his unique background in the competitive landscape around fiscal gold ETFs.

"Since the first physically backed gold ETF arrived in 2004, these products have given investors a valuable tool to attain a diversified source of returns while managing risk in their portfolios," said Rich.

"Unfortunately, most of these ETFs hold their gold bullion in vaults owned by commercial banks concentrated geographically in London. The fact that AAAU vaults its gold in Australia is a valuable differentiator for investors looking to mitigate risk while maintaining exposure with one of the lowest expense ratios among gold-backed ETFs. I'm excited to help tell AAAU's story and to work with The Perth Mint team to reach new investor audiences."

Rich is a longtime ETF industry player, with a background in product development. He most recently consulted with the World Gold Council on some of its fund rollouts. From 2016 to 2018, Rich played a key role in the launch of the SPDR® Long Dollar Gold Trust and the SPDR® Gold MiniSharesSM Trust, while also supporting the SPDR® Gold Trust. Prior to that, he founded Rich Investment Solutions in 2009 and worked to develop, package, launch, sponsor and manage investment strategies for ETFs, winning the award for the Best New Alternative ETF in 2013. Rich has also worked at Deutsche Bank (DB), where he developed and launched the first futures-backed commodity ETF in 2006.

"We are very excited to have Kevin work with us in the U.S.," said Richard Hayes, The Perth Mint's Chief Executive Officer. "He has a deep understanding of the gold ETF space and a long history of innovation in accessing hard assets in more efficient and cost-effective ways. With his ideas and assistance, we aim to make the transition to AAAU seamless and continue to grow awareness and assets in the fund."

Since the inception of AAAU in July 2018, it has seen both the market price and fund net asset value increase by over 5%. Several factors have contributed to this inertia. For one, AAAU has an 0.18% management fee and a backing by The Perth Mint, which has been part of the gold industry since 1899.

"The drop in overall gold ETF fees from 0.40% to 0.18% has created a frenzy of activity as investors seek lower-cost options, and we see AAAU as a catalyst in the gold ETF price war," Hayes said. "With $50 billion of assets in play in the marketplace, AAAU is gearing up to further disrupt the gold industry."

AAAU shares are backed by physical gold with a minimum purity of 99.5 percent, which is secured within The Perth Mint's network of central bank grade vaults in Western Australia. All of the gold held on behalf of AAAU is guaranteed by the Government of Western Australia.

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* Although the Sponsors expect that an exchange of Trust shares for gold from the Gold Corporation's own account is not a taxable exchange, the Sponsors cannot give any assurances that the IRS will agree with this interpretation. Investors should consult their own tax advisors as to the specific tax consequences in their particular circumstances.

About Exchange Traded Concepts
Exchange Traded Concepts is the Issuer for the Fund. ETC is a private-label ETF advisor who helps firms launch all types of exchange-traded funds through a complete turnkey solution. ETC's ETF-In-A-Box™ Solution provides an efficient and cost-effective method to bring exchange-traded funds to market. By developing strategic partnerships with veteran ETF service providers, ETC assists investment managers, independent advisors, foreign asset managers, research and index providers and others in navigating the exchange-traded fund launch and ongoing management process with the time-sensitivity and professional guidance essential for maintaining regulatory compliance. ETC serves as the Administrative Sponsor for AAAU.

Exchange Traded Concepts provides a comprehensive portfolio management and trading solution. The team has extensive experience in managing global portfolios combined with broad product development and in-depth capital markets knowledge.
Exchange Traded Concepts Marketing Services serves as the marketing firm for the fund in the U.S. to create the messaging, communications program and to implement the multi-channel digital marketing plan.
Additional information can be found on the Exchange Traded Concepts' website at:

About The Perth Mint
The Perth Mint is the trading name of Gold Corporation, the Custodial Sponsor and Custodian of The Perth Mint Physical Gold ETF (NYSE:AAAU). It is wholly owned and guaranteed by the Government of Western Australia.

The Perth Mint is Australia's largest fully integrated precious metals refining, minting and depository enterprise. Its refinery is one of a select group globally that is accredited by the five major gold exchanges, being the London Bullion Market Association (LBMA), New York Commodities Exchange (COMEX), Shanghai Gold Exchange (SGE), Tokyo Commodities Exchange (TOCOM) and Dubai Multi Commodities Centre (DMCC). Processing more than 90 percent of the gold mined in Australia, the world's second-largest producer of gold after China, its total production capacity is in excess of 800 tons of gold per year.

The Perth Mint also operates the most extensive network of central-bank-grade vaulting facilities in the southern hemisphere, where it safeguards precious metals worth billions of dollars on behalf of investors. As one of Western Australia's top five exporters, The Perth Mint distributes approximately USD 14 billion of precious metal bars and coins to more than 130 countries annually, which is equivalent to more than 10% of the world's annual gold production.

This material must be preceded or accompanied by a prospectus, a copy of which may be obtained by clicking here

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus or summary prospectus with this and other information about The Perth Mint Physical Gold ETF ("Trust"), please call 1-844-880-3837 or visit the website at

Read the prospectus or summary prospectus carefully before investing.

All obligations of the trust custodian, The Perth Mint, including the gold held on behalf of investors in AAAU, are guaranteed by the government of Western Australia.

The Government Guarantee is subject to the claims-paying ability of the Government of Western Australia.  If the Custodian becomes insolvent, its assets, and the assets of the Government of Western Australia under the Government Guarantee, may not be adequate to satisfy a claim by the Trust or any Authorized Participant.  The referenced guarantee does not apply to fluctuations in the value of shares based on the price of gold which could create potential losses.  Gold owned by the Trust may be subject to loss, damage, theft or restriction on access. 

The Trust is not a mutual fund or any other type of Investment Company within the meaning of the Investment Company Act of 1940, as amended, and is not subject to regulation thereunder.  The value of your shares fluctuates based upon the price of the gold held by the Trust.  Fluctuations in the price of gold could materially adversely affect your investment in the shares.  Investors should be advised that there is no assurance that gold will maintain its long-term value in terms of U.S. dollar value in the future.  The lack of an active trading market for the shares may result in losses on your investment at the time of disposition of your shares.  Because the Trust invests only 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, governmental agencies and multi-lateral institutions could adversely affect an investment in the shares.

The request for the exchange of shares for gold is subject to a number of risks including but not limited to the potential for the price of gold to decline during the time between the submission of the request and delivery. Delivery may take a considerable amount of time depending on your location. The Trust may suspend redemptions of baskets by authorized participants and Gold Corporation may suspend or reject the exchange of shares for physical gold, which could affect the market price of the shares.  The withdrawal of an authorized participant and substantial redemptions by authorized participants may affect the liquidity of the shares.

Trust shares may trade at Net Asset Value or at a price that is above or below Net Asset Value.  Any discount or premium in the trading price relative to the Net Asset Value per share may widen as a result of the different trading hours of NYSE Arca and other exchanges. 

Market Price: The current price at which shares are bought and sold. Market returns are based upon the last trade price.
NAV: The dollar value of a single share, based on the value of the underlying assets of the fund minus its liabilities, divided by the number of shares outstanding. Calculated at the end of each business day at 4:00PM.
Basis Point (BPS): one basis point equals one hundredth (1/100) of one percent.

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The shares are neither interests in nor obligations of, and are not guaranteed by, the Sponsors (Gold Corporation and Exchange Traded Concepts, LLC), their member(s), or any of their affiliates.

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