State Street Corporation

06/23/2021 | Press release | Distributed by Public on 06/23/2021 12:39

SPDR® Gold Shares to Launch Dual Currency Trading on Singapore Exchange

SINGAPORE, 23 June 2021 - State Street Global Advisors, the asset management business of State Street Corporation (NYSE:STT), and the World Gold Council today announced that the SPDR® Gold Shares (SGX:O87) already trading on the Singapore Exchange (SGX) will commence trading in a secondary currency of Singapore dollars (SGD), effective 30 June 2021.

As the first and only gold exchange traded fund (ETF) listed on SGX, SPDR® Gold Shares was listed in 2006 in US dollars (USD). It was the most traded ETF on SGX in 2020, with a trading volume of SGD 1.63 billion (USD 1.18 billion) 1.

SPDR® Gold Shares will be available for trading in both USD and SGD from 30 June 2021. The stock code of the SGD traded shares is GSD. The new SGD trading counter will allow investors in Singapore to access SPDR® Gold Shares in their local currency.

'The option to trade SPDR® Gold Shares in both SGD and USD offers Singapore investors even more flexibility to access gold as they increasingly seek diversification opportunities amid continued volatility in the stock and bond markets,' said Meaghan Victor, head of SPDR Asia Pacific distribution at State Street Global Advisors.

With an expense ratio of 0.40%2 per annum, SPDR® Gold Shares seeks to offer investors a cost-efficient and convenient way to access the gold market.

'Gold has a strong track record as both a hedge and a source of risk-adjusted returns,' said Joseph Cavatoni, Principal Executive Officer of the SPDR® Gold Shares sponsor and Head of Americas and Global Sales for the World Gold Council. 'With the newly added SGD option, depending on their objectives, investors can now strategically either access SPDR® Gold Shares denominated in USD to mitigate the risk of local currency depreciation or in SGD to capture not only the potential gain in gold price, but also the appreciation of USD against SGD.'

Launched in the US by the World Gold Council and State Street Global Advisors in 2004, the SPDR® Gold Shares is an exchange traded fund that tracks the spot price of gold bullion. It is the world's largest ETF backed by physical gold in terms of asset under management3. It was cross-listed in Singapore, Tokyo, Hong Kong and Mexico.

1 Source: Bloomberg Finance, L.P. as of December 2020.
2 Recurring fixed expense of 0.40% p.a. of the daily NAV of the SPDR® Gold Shares, accrued daily.
3 Source: Bloomberg Finance, L.P. as of May 2021.

For more information on SPDR® Gold Shares, please refer to: https://www.ssga.com/sg/en/individual/etfs/funds/spdr-gold-shares-o87

For more information on dual currency trading, please refer: https://www.sgx.com/securities/trading#Dual%20Currency%20Trading

About State Street Global Advisors

For four decades, State Street Global Advisors has served the world's governments, institutions and financial advisors. With a rigorous, risk-aware approach built on research, analysis and market-tested experience, we build from a breadth of active and index strategies to create cost-effective solutions. As stewards, we help portfolio companies see that what is fair for people and sustainable for the planet can deliver long-term performance. And, as pioneers in index, ETF, and ESG investing, we are always inventing new ways to invest. As a result, we have become the world's third-largest asset manager with US $3.59 trillion* under our care.

*This figure is presented as of March 31, 2021 and includes approximately $60.33 billion of assets with respect to SPDR products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Global Advisors are affiliated.

About World Gold Council

The World Gold Council is the market development organisation for the gold industry. Our purpose is to stimulate and sustain demand for gold, provide industry leadership, and be the global authority on the gold market.

We develop gold-backed solutions, services and products, based on authoritative market insight and we work with a range of partners to put our ideas into action. As a result, we create structural shifts in demand for gold across key market sectors.

We provide insights into the international gold markets, helping people to understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society.

Based in the UK, with operations in India, China, Singapore and the USA, the World Gold Council is an association whose members comprise the world's leading and most forward thinking gold mining companies.

Important Risk Information

All forms of investments carry risks, including the risk of losing all of the invested amount. Such activities may not be suitable for everyone.

Diversification does not ensure a profit or guarantee against loss.

The information provided does not constitute investment advice and it should not be relied on as such. It should not be considered a solicitation to buy or an offer to sell a security. It does not take into account any investor's particular investment objectives, strategies, tax status or investment horizon. You should consult your tax and financial advisor. All information is from SSGA unless otherwise noted and has been obtained from sources believed to be reliable, but its accuracy is not guaranteed. There is no representation or warranty as to the current accuracy, reliability or completeness of, nor liability for, decisions based on such information and it should not be relied on as such.

The whole or any part of this press release may not be reproduced, copied, or transmitted to any person without SSGA's express written consent and may not be distributed and published in jurisdictions in which such distribution and publication is not permitted.

The prospectus in respect of the Singapore offer of the shares (the 'Shares') in the SPDR Gold Trust (the 'Trust') is available and may be obtained upon request from State Street Global Advisors Singapore Limited ('SSGA') (Co. Reg. No: 200002719D). Investors should read the prospectus of the Trust before deciding whether to purchase Shares. Shares in the Trust are not obligations of, deposits in, or guaranteed by, World Gold Trust Services, LLC, SSGA or any of their affiliates. You may wish to seek advice from a financial adviser before making a commitment to purchase Shares. In the event that you choose not to seek advice from a financial adviser, you should consider whether the Trust is suitable for you. The NAV per unit, the price of units, and the income from units, if any, may fall or rise. Past performance of the Trust and/or of the Sponsor and/or of SSGA and/or of any of their respective affiliates is not necessarily indicative of its future performance. Investors have no right to request the Sponsor to redeem their Shares while the Shares are listed. It is intended that holders of Shares may only deal in their Shares through trading on the SGX-ST. Listing of the Shares on the SGX-ST does not guarantee a liquid market for the Shares. The Shares may be delisted from SGX-ST.

An investment in a precious metals fund carries risks of a different nature from other types of collective investment schemes which invest in transferable securities, and a precious metals fund may not be suitable for persons who are averse to such risks. Please refer to the prospectus of the Trust for a disclosure of the risks that may be applicable to the Trust.

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

Standard & Poor's®, S&P® and SPDR® are registered trademarks of Standard & Poor's Financial Services LLC (S&P); Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC (Dow Jones); and these trademarks have been licensed for use by S&P Dow Jones Indices LLC (SPDJI) and sublicensed for certain purposes by State Street Corporation.

State Street Corporation's financial products are not sponsored, endorsed, sold or promoted by SPDJI, Dow Jones, S&P, their respective affiliates and third-party licensors and none of such parties make any representation regarding the advisability of investing in such product(s) nor do they have any liability in relation thereto, including for any errors, omissions, or interruptions of any index.

Singapore: State Street Global Advisors Singapore Limited, 168, Robinson Road, #33-01 Capital Tower, Singapore 068912 (Company Reg. No: 200002719D, regulated by the Monetary Authority of Singapore) • Telephone: +65 6826-7555 • Facsimile: +65 6826-7501 • Web: www.SSGA.com

This advertisement or publication has not been reviewed by the Monetary Authority of Singapore

© 2021 State Street Corporation - All Rights Reserved

This press release is classified as General Access

Tracking Code: 3603230.1.1.APAC.RTL
Expiration Date: 30 June 2022