The Royal Mint Physical Gold ETC assets more than double since start of the year

The Royal Mint Physical Gold ETC (LSE:RMAU) has reached over US$600m in assets under management (AUM), more than doubled since the end of 2021.

Starting the year at US$278mln by April 29, the exchange-traded product’s assets topped US$600mln, representing year-to-date growth of 117.6% and the highest AUM since its launch in 2020.

The ETC provides investors with exposure to the spot price of gold by physically holding gold bars with the Royal Mint, which are said to be 100% in compliance with the LBMA’s 2019 Responsible Sourcing guidelines, while a portion of the gold held in custody is 100% recycled.  

The spot price of gold came close to US$2050 in early March but has since declined to around US$1819, close to where it was at the start of the year. 

The RMAU fund was the first listed product to be sponsored by The Royal Mint and the first gold ETC to be launched in partnership with a European sovereign mint, said HANetf, which provides the exchange-traded fund platform.

Hector McNeil, co-chief executive and co-founder of HANetf, said: “We launched The Royal Mint Physical Gold ETC (LSE:RMAU) (RMAU) just two years ago. We are thrilled to see it exceed 600 million dollars in AUM in such a short period of time.

“Gold will always be an asset of interest to investors seeking a diversified portfolio. With the world such a turbulent place, be it the pandemic, inflation, or the outbreak of war in Europe, this precious metal is likely to have even more appeal for those looking for some sort of insurance.”

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