Summary
This filing for the iShares Gold Trust (IAU) for the quarter ending March 31, 2013, indicates a decline in the Trust's net asset value, primarily driven by a decrease in the price of gold. The net asset value per share decreased by 3.96% to $15.54, mirroring the 3.95% drop in the London PM Fix price for gold. This decline, while significant, was slightly exacerbated by the Trust's operational expenses, specifically the Sponsor's fees, which represented approximately 0.06% of the average weighted assets during the quarter. Despite the decrease in the value of its gold holdings, the Trust generated a substantial net income of $144.99 million, largely due to significant gains realized on gold distributed for share redemptions. The Trust experienced a net decrease in outstanding shares, with redemptions exceeding creations, reflecting investor sentiment during the period. The Trust continues to operate as a passive investment vehicle, with its Shares designed to track the price of gold, less expenses.
Financial Highlights
12 data points| Operating Expenses | $7.02M |
| Net Income | $144.99M |
| EPS (Basic) | $0.40 |
| Shares Outstanding (Basic) | 358.67M |
Key Highlights
- 1Net Asset Value (NAV) per Share decreased by 3.96% to $15.54, reflecting a decline in gold prices.
- 2The Trust reported a net income of $144.99 million for the quarter, primarily driven by gains on gold distributed for share redemptions.
- 3Total assets of the Trust decreased to $9.19 billion from $9.32 billion at the end of the prior fiscal year.
- 4Outstanding Shares decreased from 719.55 million to 701.60 million, indicating net redemptions during the quarter.
- 5Sponsor's fees, the primary expense, amounted to $7.02 million for the quarter.
- 6The Trust holds approximately 6,821 ounces of gold bullion valued at $10.90 billion at fair value as of March 31, 2013.
- 7The Trust continues to operate as a passive investment vehicle, with its objective being to track the price of gold less expenses.