The fund invests in physical gold in the form of standard bars (approx. 12.5 kg or around 400 ounces). The investment objective is to reflect gold's performance in the long-term after deduction of the running costs. An investment in the fund is an effective alternative to a direct investment in physical gold. The share classes which are not denominated in USD (CHF, EUR & GBP), feature currency hedging against the USD. Investors of the share class A have the possibility to payments in kind from 1 kg of gold.