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State Street’s SPDR Gold Shares passes USD30bn assets milestone

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State Street Global Markets and World Gold Trust Services have announced that assets in the SPDR Gold Trust have surpassed USD30bn, making it the world’s second largest ETF by assets.

State Street Global Markets and World Gold Trust Services have announced that assets in the SPDR Gold Trust have surpassed USD30bn, making it the world’s second largest ETF by assets.

The largest ETF is another State Street fund, the SPDR S&P 500 ETF.

“As economic uncertainty climbs, an increasing number of investors are adding more gold to their portfolios,” says Natalie Dempster, the World Gold Council’s head of investment for North America.

“Assets in the trust have increased by more than 60 per cent in the last six months. This growth underscores gold’s safe haven appeal and its recognition as an excellent portfolio diversifier among a wide array of financial advisors and investors.”

Launched by World Gold Trust Services and State Street in November 2004, the SPDR Gold Trust was the first US commodity-based exchanged-traded security and quickly emerged as one of the fastest growing exchange-traded products.

“In providing convenient, low-cost access to a previously hard-to-reach corner of the market, the SPDR Gold Trust has helped change the way many investors manage their portfolio amid increasing market volatility,” says James Ross, a senior managing director at State Street Global Advisors.

World Gold Trust Services is a wholly owned subsidiary of the World Gold Council, a commercially-driven marketing organisation funded by the world’s leading gold mining companies.

State Street Global Markets is a wholly-owned subsidiary of State Street Corporation. The company is a registered broker-dealer with the Securities and Exchange Commission and is a member of the National Association of Securities Dealers and the Securities Investor Protection Corporation. The company is engaged as a securities broker-dealer that comprises several classes of services, including principal transactions, agency transactions, investment servicing, and mutual fund distribution.

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