Summary
This Form 8-K filing by iShares® COMEX® Gold Trust (IAU) on February 7, 2007, primarily announces a significant administrative change: the substitution of Barclays Global Investors International Inc. (BGII) as the sponsor in place of Barclays Global Investors, N.A. (BGI). This amendment to the Depositary Trust Agreement is intended to centralize the sponsorship of iShares® exchange-traded investment vehicles under a specialized entity, BGII, which is not an "investment company" under the Investment Company Act of 1940. For investors in IAU, this change is largely structural and administrative, with no immediate impact on the trust's investment objective or operations. The core provisions of the Trust Agreement remain unchanged, and the substitution is a strategic move to streamline the sponsorship of iShares products. The effective date of this change is contingent upon the SEC's approval of a related post-effective amendment to the registration statement.
Key Highlights
- 1Substitution of Sponsor: Barclays Global Investors International Inc. (BGII) is replacing Barclays Global Investors, N.A. (BGI) as the sponsor of the iShares® COMEX® Gold Trust.
- 2Administrative Amendment: The change is implemented through a First Amended and Restated Depositary Trust Agreement.
- 3Strategic Alignment: The substitution aims to consolidate sponsorship of non-"investment company" iShares ETFs under BGII.
- 4No Change to Trust Provisions: Key operational and investment provisions of the existing Trust Agreement remain in effect.
- 5Effective Date Contingency: The change becomes effective upon the SEC's approval of a post-effective amendment to the trust's registration statement.
- 6Filing Date: The report was filed on February 6, 2007, with an event date of February 5, 2007.