OUNZ is the only gold ETF with a patented
process by which investors can take delivery of their gold
VanEck Merk Gold Trust (NYSE: OUNZ) reduces fees investors pay
to take delivery of their gold.
“Investors appreciate the ease of buying gold through an ETF,
but foremost they want to be assured the gold is really there for
them. Now, we are reaffirming our commitment to provide investors
with easy and cost-effective access to their gold,” explains Axel
Merk, President of Merk Investments, the sponsor of OUNZ.
On any business day, investors may request delivery of the
London bars held by the Trust, as well as exchange their shares for
gold coins (or bars) that are more commonly desired by individual
investors. Minimum fees have been replaced with a flat fee to make
smaller deliveries more economical. The new fees will go into
effect on September 8, 2017, and feature substantial reductions.
Some examples:
- Cost of taking delivery of 20 1oz
Australian bars is reduced by 30%;
- Cost of taking delivery of 100 1oz
Australian bars is reduced by 27%;
- Cost of taking delivery of 1 London bar
is reduced by 58%;
- Cost of taking delivery of 50 London
bars is reduced by 96%.
For details on the new fees, please see
www.merkgold.com/fees.html. Because investors own a pro-rata share
of the gold held in OUNZ, taking delivery and/or exchanging the
gold into other coins and bars is not a taxable event.
“We increasingly see investors drawn to OUNZ not only for the
simple ETF access it provides to gold, but also its unique feature
that enables investors to take delivery of their gold,” said
Brandon Rakszawski, ETF Product Manager for VanEck. “We believe the
fee reduction will benefit shareholders long-term.”
About Merk Investments
Merk Investments provides investment advice on liquid global
markets, including domestic and international equities, fixed
income, commodities and currencies and their respective derivative
markets. Aside from the VanEck Merk Gold Trust, the Merk Funds®
include: the Merk Hard Currency Fund® (MERKX) and the Merk Absolute
Return Currency Fund® (MABFX).
About VanEck
VanEck’s mission is to offer investors forward-looking,
intelligently designed investment strategies that take advantage of
targeted market opportunities. Founded in 1955, the firm is a
pioneer in global investing with a history of placing clients’
interests first in all market environments. Today, VanEck continues
this tradition by offering active and passive investment portfolios
in hard assets, emerging markets equity and debt, precious metals,
fixed income, and other alternative asset classes. VanEck Vectors
exchange-traded products are one of the largest ETP families in the
world, managing more than 70 funds that span a range of sectors,
asset classes, and geographies. As of July 31, 2017, VanEck managed
approximately $40.3 billion in assets, including mutual funds,
ETFs, and institutional accounts.
Important Disclosures
This material must be preceded or accompanied by a
prospectus. Before investing, you should carefully consider the Van
Eck Merk Gold Trust's (the “Trust”) investment objectives, risks,
charges and expenses. This and other information is in the
prospectus, a copy of which may be obtained by visiting
vaneck.com/ounz or calling 800-826-2333. Please read the
prospectus carefully before you invest.
The Exchange Fee listed is effective September 8, 2017 and
supersedes any previously published Exchange Fees, including those
in the prospectus.
London bars: a gold bar meeting the specifications for weight,
dimensions, fineness (or purity), identifying marks and appearance
of gold bars set forth in “The Good Delivery Rules for Gold and
Silver Bars” published by the London Bullion Market Association
(“LBMA”).
Please see http://www.merkgold.com/patent.html for more
information on U.S. patent #8,626,641 granted to Merk pertaining to
the delivery process for OUNZ.
This press release does not constitute legal or tax advice.
Please read the prospectus and consult with your tax adviser for
tax related questions pertaining to OUNZ.
Investing involves risk, including possible loss of principal.
The Trust is not an investment company registered under the
Investment Company Act of 1940 or a commodity pool for the purposes
of the Commodity Exchange Act. Shares of the Trust are not subject
to the same regulatory requirements as mutual funds. Because shares
of the Trust are intended to reflect the price of the gold held in
the Trust, the market price of the shares is subject to
fluctuations similar to those affecting gold prices. Additionally,
shares of the Trust are bought and sold at market price, not at net
asset value (“NAV”). Brokerage commissions will reduce returns.
The request for redemption 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.
Commodities and commodity-index linked securities may be
affected by changes in overall market movements and other factors
such as weather, disease, embargoes, or political and regulatory
developments, as well as trading activity of speculators and
arbitrageurs in the underlying commodities.
Trust shares trade like stocks, are subject to investment risk
and will fluctuate in market value. The value of Trust shares
relates directly to the value of the gold held by the Trust (less
its expenses), and fluctuations in the price of gold could
materially and adversely affect an investment in the shares. The
price received upon the sale of the shares, which trade at market
price, may be more or less than the value of the gold represented
by them. The Trust does not generate any income, and as the Trust
regularly issues shares to pay for the Sponsor’s ongoing expenses,
the amount of gold represented by each Share will decline over
time. Investing involves risk, and you could lose money on an
investment in the Trust. For a more complete discussion of the
risk factors relative to the Trust, carefully read the
prospectus.
The sponsor of the Trust is Merk Investments LLC (the
“Sponsor”). VanEck and Foreside Fund Services, LLC, provide
marketing services to the Trust.
Before investing in the Merk Funds, you should carefully
consider the Funds' investment objectives, risks, charges and
expenses. This and other information is in the prospectus, a copy
of which may be obtained by visiting www.merkfunds.com.
Please read the prospectus carefully before you
invest. Foreside Fund Service, LLC, distributor of the Merk
Funds.
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version on businesswire.com: http://www.businesswire.com/news/home/20170906005418/en/
MacMillan CommunicationsMike MacMillan/Chris Sullivan,
212-473-4442chris@macmillancom.com
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