VanEck to reduce management fee for NUGG

Sydney 29 May 2023 - VanEck Australia is pleased to announce it is reducing the management fee for its Gold Bullion ETF (ASX code: NUGG) to 0.25% p.a.

Arian Neiron, Managing Director, VanEck, Asia Pacific said: “In the months since we launched NUGG, we have been astounded by investor interest in gold and gold equities. NUGG is different from other gold bullion ETFs as it is physically backed by gold bullion sourced only from Australian gold producers and investors can convert their ETF holdings into physical gold at The Perth Mint. It was also the most cost-effective physically backed gold ETF on ASX.

“After a fee review, as we approach six months since NUGG’s launch, we have decided to reduce NUGG’s management fee. NUGG’s new fee will enable more investors to gain exposure to VanEck’s gold bullion strategy, further extending our leadership in the gold space. This makes the most cost-effective physical gold ETF even more affordable.

“The fee reduction comes at an opportune time for investors given the current market volatility. History has shown, when confidence erodes, or when there is extreme volatility in markets, investors turn to gold. Importantly, with NUGG, investors can gain confidence from gold that is only Australian sourced and the ability to physically access the gold from The Perth Mint.

“We are confident that the new fee will encourage more investors and their advisers to consider NUGG for their gold exposure. The new fee is consistent with our business objective of providing investors with opportunities to access the best investment outcomes.

“VanEck’s global leadership in gold investing stretches more than 50 years, encompassing gold equites and bullion across ETFs and active funds. VanEck launched the US’s first gold equity fund in 1968, and that fund is still around today. Our gold miners ETF (GDX), launched in 2006, is one of the most actively traded ETFs in the world.”