VanEck Merk Gold Trust to switch NAV pricing index to Solactive Gold Spot Index
The sponsor, Merk Investments, said the Trust will replace the LBMA PM Gold Price with the Solactive Gold Spot Index to value its gold, effective July 11, 2023 or as soon as practicable after. The sponsor says the change could result in materially different net asset values for the Trust, and that the new index is priced around the NYSE close, which it believes better aligns NAV with U.S. trading hours.
- Benchmark changes from the LBMA PM Gold Price to the Solactive Gold Spot Index (SOLAGOLD) effective July 11, 2023 or as soon as practicable thereafter
- The Bank of New York Mellon, the Trust's trustee, has been instructed to use SOLAGOLD for NAV from the change date; NAV uses the LBMA PM Gold Price until then
- The filing states the change could result in materially different net asset values for the Trust