Last checked at 20 Sep 2016 14:43
RNS Number 3534K
ETFS Commodity Securities Limited
20 September 2016
ETFS Commodity Securities Limited
Capital Adjustment
ETFS Commodity Securities Limited (the "Issuer") gives notice of the following:
With effect from 20 October 2016 the basis of calculation of the rate of the Capital Adjustment will change. The rate of the Capital Adjustment is currently the weekly 3-month U.S. Treasury Bill rate less a spread of 0.45 per cent. per annum in the case of Classic Commodity Contracts, 0.60 per cent. per annum in the case of Longer Dated Commodity Contracts, 0.85 per cent. per annum in respect of the One Times Short Commodity Securities, 1.90 per cent. per annum in respect of the Three Times Short Individual Securities, 1.30 per cent. per annum in respect of the Two Times Long Commodity Securities and 1.60 per cent. in respect of the Three Times Long Individual Securities (reflecting the risk taken by the Commodity Contract Counterparties) and less Management Fee and the Licence Allowance.
As at 19 September 2016, the rate of the Capital Adjustment was as follows:
| Daily | Annual* |
Classic and Longer Dated Commodity Securities |
|
|
Classic Micro and Commodity Securities | -0.0000166% | -0.60% |
Longer Dated Micro and Commodity Securities | -0.0000207% | -0.74% |
|
|
|
Short Commodity Securities |
|
|
One Times Short Commodity Securities | -0.0000409% | -1.46% |
Three Times Short Individual Securities | -0.0000696% | -2.47% |
|
|
|
Leveraged Commodity Securities |
|
|
Two Times Long Commodity Securities | -0.0000532% | -1.90% |
Three Times Long Individual Securities | -0.0000614% | -2.19% |
* is the Daily rate compounded over 365 days | ||
| ||
With effect from 20 October 2016 the rate will be based on the four week U.S. Treasury Bill rate rather than the three month U.S. Treasury Bill rate. Had the change become effective on 19 September 2016, the rate of the Capital Adjustment would have been as follows:
| Daily | Annual* |
Classic and Longer Dated Commodity Securities |
|
|
Classic Micro and Commodity Securities | -0.0000201% | -0.72% |
Longer Dated Micro and Commodity Securities | -0.0000242% | -0.87% |
|
|
|
Short Commodity Securities |
|
|
One Times Short Commodity Securities | -0.0000444% | -1.59% |
Three Times Short Individual Securities | -0.0000731% | -2.60% |
|
|
|
Leverage Commodity Securities |
|
|
Two Times Long Commodity Securities | -0.0000567% | -2.02% |
Three Times Long Individual Securities | -0.0000649% | -2.31% |
* is the Daily rate compounded over 365 days | ||
| ||
Terms used in this announcement and not otherwise defined bear the same meanings as where used in the relevant Prospectus, being in the case of the Classic and Longer Dated Commodity Securities, the prospectus of the Issuer dated 21 April 2016 and in the case of the Short and Leveraged Commodity Securities, the prospectus of the Issuer dated 19 October 2015.
For further information, please contact
Richard Parker,
R&H Fund Services (Jersey) Limited
Tel: +44 (0) 1534 825200
Fax: +44 (0) 1534 825335
E-mail address: richard.parker@rhfsl.com