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ETFS All Commodities AIGC.pdf
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ETFS All Commodities AIGC.pdf
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31 May 2019
ETFS All Commodities AIGC
Investment Objective
ETFS All Commodities (AIGC) is designed to enable investors to gain an
exposure to a total return investment in a basket of commodities futures
contracts by tracking the Bloomberg Commodity Index
SM
(the "Index") and
providing a collateral yield.
AIGC is an exchange traded commodity ("ETC"). Its securities can be
created and redeemed on demand by authorised participants and traded
on exchange just like shares in a company. The ETC is backed by swaps.
The payment obligations of the swap counterparties to the Issuer are
protected by collateral held which is marked to market daily. The collateral
is held in segregated accounts at The Bank of New York Mellon. Details of
the collateral held can be found in the Collateral section of the ETF
Securities website (www.etfsecurities.com).
Index Description
The Index is designed to reflect the movement in the price of the futures
contracts (that are continuously rolled on a pre-determined rolling
schedule) of the commodities used in the Bloomberg Commodity Index
SM
.
The Index is a broadly diversified index priced by reference to commodity
futures contracts from the major commodity sectors: Energy, Agriculture,
Industrial Metals, Precious Metals and Livestock.When the Index is
rebalanced no sector may constitute more than 33% and no indiviudal
commodity may constitute less than 2% of the Index. A futures contract is
an agreement to purchase a commodity at an agreed price, with delivery
and payment to take place at a specified point in the future. Futures
contracts are generally disposed of just before the term of the contract
expires and new contracts entered into in order to avoid taking actual
delivery of the commodity in question (a process known as 'rolling'), so that
continuous exposure to the commodity is maintained. The contracts being
purchased may be more expensive than the contracts being sold which
would cause an investor in commodity futures to make an additional loss.
This market trend is known as 'contango'. Alternatively the contracts being
purchased may be cheaper than the ones being sold which would result in
an additional gain, known as 'backwardation'. This price difference is
commonly referred to as "roll yield". As the roll yield is incorporated into the
calculation of the value of the Index, it may therefore have a positive or
negative impact on the value of the Index depending on whether there is
contango or backwardation. The ETC will also be affected as its value is
based upon the value of the Index.
Product Information
Issuer ETFS Commodity Securities Limited
Legal Form Debt security
UCITS Eligible Yes
Domicile Jersey
Listing Date 27 September 2006
Base Currency USD
Currency Hedged
No – this product is not protected against
adverse currency movements
Management Fee 0.49% p.a.
Replication Synthetic - fully funded collateralised swap
Counterparties
Citigroup Global Markets Limited, Merrill
Lynch International
Collateralised Yes
Product Manager
ETFS Management Company (Jersey)
Limited
Trustee The Law Debenture Trust Corporation p.l.c.
Collateral Manager The Bank of New York Mellon
SIPP And ISA (UK) Eligible Yes
UK Reporting Fund Status Yes
Passported To
Austria, Belgium, Denmark, Finland, France,
Germany, Ireland, Italy, Netherlands,
Norway, Spain, Sweden, United Kingdom
Benchmark Information
Index Name
Bloomberg Commodity Index
SM
Index Provider Bloomberg
Base Currency USD
Constituents 22
Bloomberg Code BCOM
Reuters Code .BCOM
Trading Information
Exchange ISIN Exchange Code Currency (Trading) Bloomberg Code Reuters Code
London Stock Exchange GB00B15KY989 AIGC USD AIGC LN AIGC.L
Deutsche Börse DE000A0KRKC6 OD7V EUR OD7V GY OD7V .DE
NYSE Euronext GB00B15KY989 AIGCP EUR AIGCP FP AIGCP.PA
Borsa Italiana GB00B15KY989 AIGC EUR AIGC IM AIGC.MI
Tokyo Stock Exchange GB00B15KY989 1684 JPY 1684 JP 1684.T
London Stock Exchange GB00B15KY989 AGCP GBX AGCP LN AGCP.L
Please see the glossary on page 3 for further explanations of the above terms. Investments may go up or down in value and you may lose some or all of
the amount invested. You should consult an independent investment adviser prior to making any investment in order to determine its suitability to your
circumstances.
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