Assets in the SPDR Gold Trust have surpassed USD50bn, according to State Street Global Advisors and World Gold Trust Services, a wholly-owned subsidiary of the World Gold Council.
"With assets having increased by approximately 32 per cent year-to-date (as of 25 June 2010), SPDR Gold Shares has radically transformed the way in which a wide range of investors access the gold market," says James Ross, senior managing director at State Street Global Advisors.
Jason Toussaint, managing director, investments, World Gold Trust Services, adds: "Strategic asset allocation will continue to play a central role in investors’ portfolio performance moving forward, and portfolios that contain even a small allocation in gold have the potential to better cope with varying market scenarios. This milestone for GLD underscores that investors have embraced gold as a viable core holding over the long-term."
SPDR Gold Shares was launched in November 2004 by World Gold Trust Services and State Street to satisfy the growing need among investors for an exchange-traded fund backed by physical gold.
As of 25 June, assets under management in the trust totalled more than USD53bn, making it the second largest ETF by assets in the world.
GLD is also cross-listed on the Bolsa Mexicana de Valores, the Singapore Exchange the Tokyo Stock Exchange and the Stock Exchange of Hong Kong.