Summary
This 8-K filing from iShares Gold Trust (IAU) on March 19, 2015, announces a significant operational change related to the benchmark used for valuing the Trust's gold holdings. Following the discontinuation of the London PM Fix, the Trust, through its sponsor iShares Delaware Trust Sponsor LLC, has adopted the price set by the ICE Benchmark Administration (IBA) as the new benchmark for determining the daily commercial value of its gold. This change is effective immediately as of March 19, 2015. This transition is crucial for investors as it directly impacts the Net Asset Value (NAV) calculation of IAU shares. The adoption of the IBA's afternoon fix aims to ensure that the daily valuation of the Trust's gold remains representative of its fair market value in the commercial sphere, providing continuity and transparency for investors holding IAU. The filing includes the press release detailing this announcement as an exhibit.
Key Highlights
- 1iShares Gold Trust (IAU) is changing its gold valuation benchmark.
- 2The London PM Fix, previously used for valuation, has been discontinued.
- 3The ICE Benchmark Administration (IBA) afternoon fix will now be used to determine the daily commercial value of the Trust's gold.
- 4This change is effective as of March 19, 2015.
- 5The purpose of the change is to ensure the daily valuation accurately reflects the commercial value of the Trust's gold.
- 6The press release detailing this announcement is attached as Exhibit 99.1.
- 7This is an operational update impacting the calculation of IAU's Net Asset Value (NAV).