Invesco trims fee on $7.6bn physical gold ETC

Invesco has trimmed its annual fixed fee to 0.19% on its $7.6bn Invesco Physical Gold ETC, one of its largest exchange traded products listed in Europe. With a bid-offer spread typically around 2bps, Inesco says the product offers the lowest total cost of any similar gold product in the region. The manager notes that 2019 saw an all time high in the amount of gold held via exchange traded products by investors. Some $19.3bn of gold ETPs, equivalent to some 400 tonnes, was acquired globally through the year, of which $8.8bn went to products listed in Europe. Chris Mellor, head of EM...