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Physical Gold Fund I SP

Due Diligence

Regulatory Information

Physical Gold Fund I SP, Physical Gold Fund SP, and Physical Hard Assets Fund SPC are registered and authorized to operate in the jurisdiction of Cayman Islands through the Cayman Islands Monetary Authority (CIMA)

Physical Gold Fund I SP is registered with the U.S. Securities and Exchange Commission (SEC)

Physical Gold Fund I SP complies with the reporting requirements of FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard)

Independent Service Providers

Independent Auditor: Price Waterhouse Coopers

Description: Price Waterhouse Coopers is a multinational professional services network. It is one of the largest professional services firms in the world, and is one of the “Big Four” auditors globally.

  • Services Provided to the fund: Annual audit of financials, random annual site inspection of gold assets.

Independent Fund Administrator: SS&C Fund Services

Description: SS&C is home to the industry’s largest fund administrator: SS&C GlobeOp. Named “Best Global Hedge Fund Administrator” of 2017 by Hedgeweek, SS&C GlobeOp serves a worldwide clientele of hedge funds, private equity funds, fund of funds, managed accounts, family office and UCITS, with more than $1.4 trillion in assets under administration.

  • Services Provided to the fund: Accounts management, Signatory authority over cash transactions/trades/redemption’s, signatory authority over gold vault access (one of 3), verification of service provider contracts, produces NAV’s

Independent Gold Bullion Auditor: Grant Thornton

Description: The people in the independent firms of Grant Thornton International Ltd provide personalized attention and the highest quality service to public and private clients in more than 100 countries. Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations.

  • Services Provided to the fund: Grant Thornton is required to be present at each “bailment” of the fund’s gold into the vault. Grant Thornton provides sign off after physical confirmation of each gold bar by serial number, and weight in fine troy ounces.

Cash Custodian: Northern Trust International Banking Corporation

Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region, and 18,100 employees globally. As of March 31, 2018, Northern Trust Corporation had: $10.8 trillion in assets under custody/administration, $8.1 trillion in assets under custody, $1.2 trillion in assets under management, $130 billion in banking assets.

Legal Counsel: Solomon Harris, Cayman

Description: Solomon Harris is a full service corporate/commercial law firm specialising in international offshore work with recognised expertise in a number of niche areas, including investment funds, captive insurance, capital markets and corporate restructuring/insolvency. The firm has developed a reputation as one of Cayman’s top tier firms for providing effective offshore legal solutions, both promptly and efficiently. The firm continues to be recognised as a top ranking Cayman firm by the leading UK international law firm directories, such as Chambers Global and Legal 500 and is perceived in the market as a more “nimble” alternative to its larger competitors with a complement of very experienced lawyers across all work groups.

  • Services Provided to the fund: Solomon Harris provides counsel and regulatory advice, filings, and expertise to ensure the fund is meeting its responsibilities in regards to the CIMA and its investors.

Management Controls, Processes, Governance

Process Controls
Bullion Custody
Subscription/Transaction Flow
Bailment Process
Acquisition
Chain of Integrity | Oversight
Areas of Risk Control

Physical Gold Fund SP

Due Diligence

Regulatory Information

Physical Gold Fund I SP, Physical Gold Fund SP, and Physical Hard Assets Fund SPC are registered and authorized to operate in the jurisdiction of Cayman Islands through the Cayman Islands Monetary Authority (CIMA)

Physical Gold Fund SP is approved by the FCA in the United Kingdom under the National Private Placement Regime (NPPR) (FRN: 739437 (Physical Hard Assets SPC), Umbrella FRN 739438 (Physical Gold Fund SP).
CLASS B: PRN: 743940.
CLASS I: PRN: 739441

Physical Gold Fund SP is registered in the UK with Her Majesty’s Revenue and Customs (HMRC) as a ‘Reporting Fund’
Share Class Ref No: P0189-0002– Share Class Name: Physical Gold Fund SP – Class B.
Share Class Ref No: P0189-0003 – Share Class Name: Physical Gold Fund SP – Class I.

Shariah Compliant Certified, via Amanie

Physical Gold Fund SP is listed in the Cayman Islands Exchange (CSX)

Physical Gold Fund SP complies with the reporting requirements of FATCA (Foreign Account Tax Compliance Act) and CRS (Common Reporting Standard)

Independent Service Providers

Independent Auditor: Price Waterhouse Coopers

Description: Price Waterhouse Coopers is a multinational professional services network. It is one of the largest professional services firms in the world, and is one of the “Big Four” auditors globally.

  • Services Provided to the fund: Annual audit of financials, random annual site inspection of gold assets.
  • Price Waterhouse Coopers Cayman Website

Independent Fund Administrator: SS&C Fund Services

Description: SS&C is home to the industry’s largest fund administrator: SS&C GlobeOp. Named “Best Global Hedge Fund Administrator” of 2017 by Hedgeweek, SS&C GlobeOp serves a worldwide clientele of hedge funds, private equity funds, fund of funds, managed accounts, family office and UCITS, with more than $1.4 trillion in assets under administration.

  • Services Provided to the fund: Accounts management, Signatory authority over cash transactions/trades/redemption’s, signatory authority over gold vault access (one of 3), verification of service provider contracts, produces NAV’s

Independent Gold Bullion Auditor: Grant Thornton

Description: The people in the independent firms of Grant Thornton International Ltd provide personalized attention and the highest quality service to public and private clients in more than 100 countries. Grant Thornton LLP is the U.S. member firm of Grant Thornton International Ltd, one of the six global audit, tax and advisory organizations.

  • Services Provided to the fund: Grant Thornton is required to be present at each “bailment” of the fund’s gold into the vault. Grant Thornton provides sign off after physical confirmation of each gold bar by serial number, and weight in fine troy ounces.

Cash Custodian: Northern Trust International Banking Corporation

Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., 23 international locations in Canada, Europe, the Middle East and the Asia-Pacific region, and 18,100 employees globally. As of March 31, 2018, Northern Trust Corporation had: $10.8 trillion in assets under custody/administration, $8.1 trillion in assets under custody, $1.2 trillion in assets under management, $130 billion in banking assets.

Legal Counsel: Solomon Harris, Cayman

Description: Solomon Harris is a full service corporate/commercial law firm specialising in international offshore work with recognised expertise in a number of niche areas, including investment funds, captive insurance, capital markets and corporate restructuring/insolvency. The firm has developed a reputation as one of Cayman’s top tier firms for providing effective offshore legal solutions, both promptly and efficiently. The firm continues to be recognised as a top ranking Cayman firm by the leading UK international law firm directories, such as Chambers Global and Legal 500 and is perceived in the market as a more “nimble” alternative to its larger competitors with a complement of very experienced lawyers across all work groups.

  • Services Provided to the fund: Solomon Harris provides counsel and regulatory advice, filings, and expertise to ensure the fund is meeting its responsibilities in regards to the CIMA and its investors.

Management Controls, Processes, Governance

Process Controls
Bullion Custody
Subscription/Transaction Flow
Bailment Process
Acquisition
Chain of Integrity | Oversight
Areas of Risk Control

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