???management fees for SPDR GLD ETF

wira wrote:

Hi
Am looking to trade GLD ETF. can advise if there are management fees for this ETF and how does this gets charged to investors ?

I understand that the folks at SPDR gold ETF 'makan' 0.4% of the gold in store as their own pocket money every year... (they say tt this is the admin fee for keeping the real gold safe and sound(plus their salary for running the show and perhaps some govt taxes as well)).

So as they 'makan' 0.4% every year, the amount of gold per ETF of course gets lesser and lesser (it began w 0.1ounce per ETF)- so obviously, there is now less than 0.1ozgold per unit of GLD ETF..

As I once asked and now understand (I believe ShinyThings later answered), the website at Singapore "GLD 10US$" - Welcome - SPDR Gold Shares currently shows the following:

Quote:

http://www.spdrgoldshares.com/sites/sg/
SGX "GLD 10US$" Share Price: US$169.00
Data source: Singapore Exchange; data delayed 20 mins
Current Indicative Intraday Value of GLD 10US$: US$169.01; Data delayed 5-10 seconds.

Gold Spot Price
Bid: US$1,743.50
Offer: US$1,744.00
Mid: US$1,743.75
data source: thebulliondesk.com; data delayed 5-10 sec, 15/10/2012

Total Gold in Trust
Tonnes: 1,340.52
Ounces: 43,099,106.50
Value US$76,134,526,325.56

So thus, due to the slow attrition of gold per ETF, the indicative price of 1 ETF (0.1oz gold) is US$169.01 despite the world market Bid for 1oz physical gold being: US$1,743.50- the approx USD$50/oz discount in value of the ETF being what has been moth eaten away as admin fees by the company since inception (it works kinda like a unit trust/ shares in terms of how the managing company collects its fees).

UOB as I've asked does similarly as the ETF (mgt fees) on its savings bk acc (0.25%p.a.; subject to min 1.44g p.a.) but for the gold cert account, u actually have to come out w $36/kg p.a. separately to pay them. U do the maths but add in remisier fees (0.7%- return ticket), me thinks that UOB gold cert is cheapest (think spread @200/70k= ~0.3+%).

UOB Gold prices in STG: https://uniservices1.uobgroup.com/se...560&height=400

Correct me if I'm wrong as I'm no financial adviser but this is what I believe.

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At:

15Oct2012: Buying gold from UOB