ETF Securities Releases Results of Gold Bullion Vault Audit

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ETF Securities Releases Results of Gold Bullion Vault Audit

29 March 2010,11:00 a.m. EST
Kitco News


New York – ETF Securities released the results of a third-party audit with the purpose of showing its commitment to transparency. The audit was performed on the bullion stock held on behalf of the ETFS Swiss Gold Trust (SGOL) at the vaults of UBS Zurich.

In an issued press release, ETF Securities stated that the audit conducted by Inspectorate International Limited found that the account held title to 757 London Good Delivery, Large Gold Bars said to be a purity of 99.50% minimum, up to and including 99.99%. As per the weight list records of the Custodian, the bars total 304,549.565 fine troy ounces of gold.

“As part of our ongoing commitment to transparency to the market and, most importantly, to our investors, ETF Securities engages Inspectorate International Limited to audit each ETF Securities gold bullion bar held in the vault bi-annually, once at the end of the calendar year and once at random,” said Fred Jheon, Managing Director and Head of Product Development.

ETF Securities Ltd is a leading promoter and issuer of ETF Securities exchange traded products (ETPs), specializing in commodities, with global assets under management of over USD $17.2 billion.

The press release stated, “Each individual gold bar held by the sub-custodian, was agreed to the records of the sub-custodian as being held in the name of the above mentioned account. All bar numbers, brand and purities of each bar was checked against the records of the sub-custodian. The weight of a representative sample of bars was taken and then checked against the sub-custodian’s records.”

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