Invesco reduces fee on physical gold ETC following record inflows

Second fee cut this year

Invesco has reduced the fee of its Physical Gold ETC from 0.19% to 0.15% per annum, following an increase in AUM to more than $14bn as the gold price has broken through the $2,000/ounce mark.

According to analysis from Invesco, gold exchange-traded products listed in Europe raised more than $10bn of net new assets in 2020 to the end of July, with $1.4bn of inflows occurring during the final month alone. Invesco's Physical Gold ETC accounted for more than half of these flows during July. Invesco's Jackson: Could gold reach $7,000? Gary Buxton, head of EMEA ETF at Invesco, said: "For more than a decade, our gold ETC has provided investors with an efficient way to gain exposure to the performance of the gold price. "As the ETC has grown significantly in size, we have been a...