The investment objective of the Fund is to provide investment results denominated in RMB that, before fees and expenses and other hedging costs, closely correspond to the performance of the London Gold Fixing Price in USD.
The Fund will seek to hedge against the foreign exchange rate movements between RMB and USD so that its performance in RMB will, before fees and expenses and other hedging costs, track the performance of the London Gold Fixing Price in USD as closely as possible. To seek to achieve its investment objective, the Fund will acquire and hold Bullion (“Bullion” means gold in the form of uniquely identifiable bars or ingots of minimum fineness of 99.5% gold from an approved refiner on the LBMA Good Delivery List of Acceptable Refiners: Gold).
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