November 2017 Gold ETF Fund December 6, 2017
Gold ETF Key Takeaways: Global gold-backed ETFs collectively hold 2,357t, as funds added 9.1t in November Europe led inflows in October, as investors added 15.8t (US$622mn, 1.5% AUM) of gold through funds listed in the region ishares Physical Gold ETC added 7.0t (US$292mn, 3.1% AUM) Two currency-hedged funds in Europe grew by almost 20% Regional flows European funds added 15.8t (US$622mn, 1.5% AUM) North America had outflows of 5.4t (US$198mn, 0.38% AUM), declining for the second month in a row. Asian funds lost 0.3t (US$200k, 0% AUM) Individual fund flows ishares Gold Trust added 7.0t (US$292mn, 3.1% AUM) SPDR Gold Shares led outflows worldwide with 11.2t (US$451mn, 1.3% AUM) coming out of the fund. In Europe, three currency-hedged funds grew substantially on a percentage basis. db Physical Gold Euro Hedged ETC added 5.3t (US$195mn, 14% AUM). UBS ETF CH-Gold CHF hedged added 4.2t (US$163mn, 19% AUM). db Physical Gold ETC EUR added 2.3t (US$95mn, 18% AUM). ETFS Physical Gold added 2.3t, increasing their AUM by 2%. Year-to-date trends European funds continued to lead inflows and captured 75% of global inflows this year, adding 143t (US$5.7bn, 14% AUM) of gold to their holdings in 2017. North America had inflows worth 62.3t (US$2.9bn, 5.5% AUM) Asian funds had outflows of 13.7t (US$455mn, 14% AUM) during the year Other regions had marginal outflows of 0.1t (US$8.7mn, 0.5% AUM) over the period. World Gold Council October 2017 Fund Year-to-date (YTD) flows As of 11/30/2017 North America 52.4 62.3 2,858.1 5.45% Europe 41.0 143.2 5,738.3 14.01% Asia 3.3-13.7-455.4-13.69% Other 1.8-0.1 8.7 0.49% Net inflows 213.8 8,950.0 9.09% Net outflows -22.0-800.3-0.81% Total 98.5 191.8 8,149.7 8.27% Month-to-date (MTD) flows As of 11/30/2017 North America 52.4-5.4-197.6-0.38% Europe 41.0 15.8 621.9 1.52% Asia 3.3-0.3-0.2 0.00% Other 1.8-0.9-30.7-1.73% Net inflows 25.8 1,004.9 1.02% Net outflows -16.7-611.5-0.62% Total 98.5 9.1 393.4 0.40% *As of 30 October 2017. Source: Bloomberg, Company Filings, World Gold Council 2
November 2017 fund flows Month-to-date (MTD) flows As of 11/30/2017 MTD as a percentage of previous period AUM As of 11/30/2017 North America 52.4-5.4-197.6-0.38% North America 52.4-5.4-197.6-0.38% Europe 41.0 15.8 621.9 1.52% Europe 41.0 15.8 621.9 1.52% Asia 3.3-0.3-0.2 0.00% Asia 3.3-0.3-0.2 0.00% Other 1.8-0.9-30.7-1.73% Other 1.8-0.9-30.7-1.73% Net inflows 25.8 1,004.9 1.02% Net inflows 25.8 1,004.9 1.02% Net outflows -16.7-611.5-0.62% Net outflows -16.7-611.5-0.62% Total 98.5 9.1 393.4 0.40% Total 98.5 9.1 393.4 0.40% Top 15 flows Country Δ tonnes Top 15 flows Country Δ tonnes ishares Gold Trust US 7.0 292.1 3.05% EUWAX GOLD II GR 0.0 6.0 82.17% db Physical Gold Euro Hedged ETC GR 5.3 194.8 14.15% UBS ETF CH-Gold CHF hedged SW 4.2 163.5 19.29% UBS ETF CH-Gold CHF hedged SW 4.2 163.5 19.29% db Physical Gold ETC EUR GR 2.3 94.7 17.75% ETFS Physical Gold LN 2.5 106.3 1.77% db Physical Gold Euro Hedged ETC GR 5.3 194.8 14.15% db Physical Gold ETC EUR GR 2.3 94.7 17.75% db Physical Gold GBP Hedged ETC LN 0.0 1.4 8.25% ishares Physical Gold ETC LN 1.0 41.6 1.35% Bosera Gold Exchange Trade Open-End Fund ETF CH 0.1 4.2 6.23% Japan Physical Gold ETF JT -0.1 20.6 4.32% FinEx Gold ETF USD RM 0.0 0.4 5.65% Gold Bullion Securities Ltd LN 0.5 20.4 0.53% Japan Physical Gold ETF JT -0.1 20.6 4.32% ishares Gold CHF Hedged ETF CH SW 0.3 9.9 2.79% ishares Gold EUR Hedged ETF CH SW 0.1 3.8 3.59% ETFS Physical Swiss Gold LN 0.2 8.1 1.38% ETFS GBP Daily Hedged Physical Gold LN 0.2 5.9 3.53% ETFS EUR Daily Hedged Physical Gold IM 0.3 7.9 3.27% ETFS EUR Daily Hedged Physical Gold IM 0.3 7.9 3.27% Pictet CH Precious Metals Fund - Physical Gold SW 0.7 6.9 0.97% ishares Gold Trust US 7.0 292.1 3.05% EUWAX GOLD II GR 0.0 6.0 82.17% ishares Gold CHF Hedged ETF CH SW 0.3 9.9 2.79% ETFS GBP Daily Hedged Physical Gold LN 0.2 5.9 3.53% ETFS Physical Gold LN 2.5 106.3 1.77% ETFS Physical Swiss Gold Shares US 0.1 5.9 0.56% UBS ETF CH-Gold EUR hedged SW 0.1 2.8 1.72% Bottom 15 flows Country Δ tonnes Bottom 15 flows Country Δ tonnes ICICI Prudential Gold iwin ETF IN 0.0-0.4-2.29% AXIS GOLD ETF IN 0.0-0.2-0.61% ETFS Physical PM Basket LN 0.0-0.5-0.35% Sprott Physical Gold Trust US -0.3-14.1-0.64% Huaan Yifu Gold ETF CH 0.0-0.8-0.10% Source Physical Gold P-ETC LN -0.8-30.8-0.65% UBAM CH - Gold + SW -0.1-1.3-2.96% ishares Gold ETF CH SW -0.1-2.5-0.71% ishares Gold ETF CH SW -0.1-2.5-0.71% BetaShares Gold Bullion ETF Currency Hedged AU 0.0-0.3-0.73% ZKB Gold ETF SW 0.0-7.9-0.13% Aditya Birla Sun Life Gold ETF IS 0.0-0.1-0.79% ishares Gold Bullion ETF CN -0.2-8.9-3.33% SPDR Gold Shares US -11.2-451.0-1.30% E Fund Gold Tradable Open-end Securities InvestmeCH -0.3-11.5-6.65% ICICI Prudential Gold iwin ETF IN 0.0-0.4-2.29% UTI-Gold Exchange Traded Fund IN 0.0-12.8-18.98% NewGold Issuer Ltd SJ -0.8-30.5-2.31% Sprott Physical Gold Trust US -0.3-14.1-0.64% UBAM CH - Gold + SW -0.1-1.3-2.96% Xetra-Gold GR -1.7-14.6-0.21% ishares Gold Bullion ETF CN -0.2-8.9-3.33% Royal Canadian Mint - Canadian Gold Reserves CN -0.5-22.6-6.45% Invesco India Gold Exchange Traded Fund IN 0.0-0.2-3.54% NewGold Issuer Ltd SJ -0.8-30.5-2.31% Royal Canadian Mint - Canadian Gold Reserves CN -0.5-22.6-6.45% Source Physical Gold P-ETC LN -0.8-30.8-0.65% E Fund Gold Tradable Open-end Securities Investment CH -0.3-11.5-6.65% SPDR Gold Shares US -11.2-451.0-1.30% UTI-Gold Exchange Traded Fund IN 0.0-12.8-18.98% Source: Bloomberg, Company Filings, World Gold Council World Gold Council October 2017 Fund 3
2017 Year-to-date fund flows Year-to-date (YTD) flows As of 11/30/2017 YTD flows as a percentage of previous year AUM As of 11/30/2017 North America 52.4 62.3 2,858.1 5.45% North America 52.4 62.3 2,858.1 5.45% Europe 41.0 143.2 5,738.3 14.01% Europe 41.0 143.2 5,738.3 14.01% Asia 3.3-13.7-455.4-13.69% Asia 3.3-13.7-455.4-13.69% Other 1.8-0.1 8.7 0.49% Other 1.8-0.1 8.7 0.49% Net inflows 213.8 8,950.0 9.09% Net inflows 213.8 8,950.0 9.09% Net outflows -22.0-800.3-0.81% Net outflows -22.0-800.3-0.81% Total 98.5 191.8 8,149.7 8.27% Total 98.5 191.8 8,149.7 8.27% Top 15 flows Country Δ tonnes Top 15 flows Country Δ tonnes Xetra-Gold GR 53.3 2,131.3 48.61% Safe Port Physical Gold 95+ Fund LE 0.4 16.3 111.24% ishares Gold Trust US 45.2 1,876.6 25.67% ETFS GBP Daily Hedged Physical Gold LN 2.2 81.3 105.73% Source Physical Gold P-ETC LN 30.7 1,250.1 39.30% db Physical Gold GBP Hedged ETC LN 0.2 7.5 101.95% SPDR Gold Shares US 17.3 989.8 3.23% EUWAX GOLD II GR 0.0 7.0 96.21% ishares Physical Gold ETC LN 16.0 698.7 31.38% db Physical Gold Euro Hedged ETC GR 16.1 517.6 61.32% db Physical Gold Euro Hedged ETC GR 16.1 517.6 61.32% FinEx Gold ETF USD RM 0.1 2.7 51.34% ETFS Physical Gold LN 6.1 266.8 4.98% Graniteshares Gold Trust US 0.1 2.6 50.34% UBS ETF CH-Gold CHF hedged SW 2.2 238.3 33.85% Xetra-Gold GR 53.3 2,131.3 48.61% db Physical Gold ETC LN 3.6 156.1 28.42% Source Physical Gold P-ETC LN 30.7 1,250.1 39.30% ETFS Physical Swiss Gold LN 3.2 129.5 30.61% UBS ETF CH-Gold CHF hedged SW 2.2 238.3 33.85% ETFS Metal Securities Australia Ltd - ETFS Physical Gold AU 1.9 83.3 26.51% ishares Physical Gold ETC LN 16.0 698.7 31.38% ETFS GBP Daily Hedged Physical Gold LN 2.2 81.3 105.73% ETFS Physical Swiss Gold LN 3.2 129.5 30.61% Pictet CH Precious Metals Fund - Physical Gold SW 3.5 80.5 14.39% db Physical Gold ETC LN 3.6 156.1 28.42% EUWAX Gold GR 1.4 56.2 16.24% SPDR Long Dollar Gold Trust US 0.5 5.3 27.71% Bosera Gold ETF I CH 1.0 40.1 ETFS Metal Securities Australia Ltd - ETFS Physical Gold AU 1.9 83.3 26.51% Bottom 15 flows Country Δ tonnes Bottom 15 flows Country Δ tonnes AXIS GOLD ETF IN -0.1-4.0-13.93% Royal Canadian Mint - Canadian Gold Reserves CN -0.9-35.8-10.12% BMG Gold Bullion Fund CN -0.1-4.6-5.89% UTI-Gold Exchange Traded Fund IN 0.1-6.6-11.23% UTI-Gold Exchange Traded Fund IN 0.1-6.6-11.23% HDFC Gold Exchange Traded Fund IN -0.2-8.6-11.55% Kotak Gold ETF IN -0.2-8.0-12.15% Kotak Gold ETF IN -0.2-8.0-12.15% HDFC Gold Exchange Traded Fund IN -0.2-8.6-11.55% SBI-ETF Gold IN -0.4-14.8-12.19% Safe Port Precious Metals 95+ Fund LE -0.3-12.1-64.78% Thanachart Gold ETF TB 0.0-0.6-12.39% SBI-ETF Gold IN -0.4-14.8-12.19% ETFS Physical PM Basket LN 0.0-15.4-12.89% ETFS Physical PM Basket LN 0.0-15.4-12.89% AXIS GOLD ETF IN -0.1-4.0-13.93% ZKB Gold ETF SW 1.0-26.2-0.49% Invesco India Gold Exchange Traded Fund IN 0.0-0.9-14.61% Royal Canadian Mint - Canadian Gold Reserves CN -0.9-35.8-10.12% IDBI Gold ETF IN 0.0-1.7-14.90% Sprott Physical Gold Trust US -1.6-65.9-3.20% Istanbul Gold Exchange Traded Fund TI -0.1-3.8-21.55% NewGold Issuer Ltd SJ -2.1-77.9-6.29% Huaan Yifu Gold ETF CH -6.1-254.8-27.67% Guotai Gold ETF CH -2.4-97.9-78.51% E Fund Gold Tradable Open-end Securities Investment Fund CH -3.6-150.1-52.60% E Fund Gold Tradable Open-end Securities Investment Fund CH -3.6-150.1-52.60% Safe Port Precious Metals 95+ Fund LE -0.3-12.1-64.78% Huaan Yifu Gold ETF CH -6.1-254.8-27.67% Guotai Gold ETF CH -2.4-97.9-78.51% Source: Bloomberg, Company Filings, World Gold Council World Gold Council October 2017 Fund 4
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