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USCF lowers fees of United States Copper Index Fund (CPER)

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United States Commodity Funds LLC (USCF) has announced a voluntary reduction in a portion of its management fee for the United States Copper Index Fund (CPER).

As of 29 May, 2012, the management fee will be reduced from 0.95% to 0.65%. USCF anticipates that the waiver will remain in place through 31 March, 2013. This reduction is voluntary, and may be terminated or modified prior to 31 March, 2013, with the approval of USCF’s Board of Directors.

Chief Investment Officer John Hyland says: "With CPER, we tried to design both a useful tool for investing in copper exposure over the long term, as well as a useful tool for trading copper exposure over the shorter term. We think that offering it with lower expenses will help generate economies of scale for both trading and investing."

The United States Copper Index Fund is an exchange-traded security that is designed to track, in percentage terms, the price movements of the SummerHaven Copper Index Total Return (SCI). CPER issues units that may be purchased and sold on the NYSE Arca.

United States Copper Index Fund tracks a portfolio of Copper futures contracts traded on the Comex exchange. Copper is a metal that has global and widespread uses across multiple industries. Copper futures contracts are one of the most actively traded of the metals futures contracts and serve as the single commodity in the SummerHaven Copper Index.

 

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