What changed in this filing

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Item 1. Financial Statements

2021-08-05 compared with 2021-05-06 · 39 added, 41 removed, 273 unchanged (23% of the section changed)

1 unchanged sentence

Combined Statements of Financial Condition

at March 31, 2021 (unaudited) and September 30, 2020

at June 30, 2021 (unaudited) and September 30, 2020

(Amounts in 000’s of US$)

Investments in Gold, at fair value (cost $ 3,896,055 and $ 3,014,561 at March 31, 2021 and September 30, 2020, respectively)

Investments in Gold, at fair value (cost $ 4,119,134 and $ 3,014,561 at June 30, 2021 and September 30, 2020, respectively)

Gold receivable

4 unchanged sentences

Combined Schedules of Investment

(All balances in 000’s except percentages)

March 31, 2021

(Amounts in 000’s except for percentages)

June 30, 2021

Investment in Gold

5 unchanged sentences

Other assets in excess of liabilities

See notes to the

unaudited financial statements.

See notes to the unaudited financial statements.

World Gold Trust

Unaudited Combined Statements of Operations

For the three and six months ended March 31, 2021 and March 31, 2020

For the three and nine months ended June 30, 2021 and June 30, 2020

(Amounts in 000’s of US$)

10 unchanged sentences

Unaudited Combined Statements of Cash Flows

For the three and six months ended March 31, 2021 and March 31, 2020

For the three and nine months ended June 30, 2021 and June 30, 2020

(Amounts in 000’s of US$)

5 unchanged sentences

Cash and cash equivalents at end of period

SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING

SUPPLEMENTAL DISCLOSURE OF NON-CASH

FINANCING ACTIVITIES:

Value of gold received for creation of shares-net

of change in gold receivable

Value of gold distributed for redemption of shares-net

of change in gold payable

Value of gold distributed for redemption of shares-net of change in gold payable

(Amounts in 000’s of US$)

11 unchanged sentences

Unaudited Combined Statements of Changes in Net Assets

For the three and six months ended March 31, 2021 and March 31, 2020

For the three and nine months ended June 30, 2021 and June 30, 2020

(Amounts in 000’s of US$)

8 unchanged sentences

Statements of Financial Condition

at March 31, 2021 (unaudited) and September 30, 2020

at June 30, 2021 (unaudited) and September 30, 2020

(Amounts in 000’s of US$ except for share and per share data)

Investments in Gold, at fair value (cost $ 3,896,055 and $ 3,014,561 at March 31, 2021 and September 30, 2020, respectively)

Investments in Gold, at fair value (cost $ 4,119,134 and $ 3,014,561 at June 30, 2021 and September 30, 2020, respectively)

Gold receivable

7 unchanged sentences

Schedules of Investment

(All balances in 000’s except for percentages)

March 31, 2021

(Amounts in 000’s except for percentages)

June 30, 2021

Investment in Gold

8 unchanged sentences

Unaudited Statements of Operations

For the three and six months ended March 31, 2021 and March 31, 2020

For the three and nine months ended June 30, 2021 and June 30, 2020

(Amounts in 000’s of US$, except per share data)

12 unchanged sentences

Unaudited Statements of Cash Flows

For the three and six months ended March 31, 2021 and March 31, 2020

For the three and nine months ended June 30, 2021 and June 30, 2020

(Amounts in 000’s of US$)

5 unchanged sentences

Cash and cash equivalents at end of period

SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING

SUPPLEMENTAL DISCLOSURE OF NON-CASH FINANCING ACTIVITIES:

Value of gold received for creation of shares-net

of change in gold receivable

Value of gold distributed for redemption of shares-net

of change in gold payable

Value of gold distributed for redemption of shares-net of change in gold payable

(Amounts in 000’s of US$)

11 unchanged sentences

Unaudited Statements of Changes in Net Assets

For the three and six months ended March 31, 2021 and March 31, 2020

For the three and nine months ended June 30, 2021 and June 30, 2020

(Amounts in 000’s of US$)

11 unchanged sentences

The beneficial interest in the Trust may be divided into one or more series.

The Trust has established six separate series, one of which is operational as of March 31, 2021.

The Trust has established six separate series, one of which is operational as of June 30, 2021.

The accompanying financial statements relate to the Trust and its one operational series, SPDR ®

14 unchanged sentences

The Trust had no operations with respect to GLDM’s Shares prior to June 26, 2018 other than matters relating to its organization and the registration of the offer and sale of GLDM’s Shares under the Securities Act of 1933, as amended.

The Statements of Financial Condition and Schedules of Investment at March 31, 2021, and the Statements of Operations, Changes in Net Assets and Cash Flows for the three and six months ended March 31, 2021 and 2020 have been prepared without audit.

In the opinion of management of the Sponsor, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the three and six months ended March 31, 2021 and for all periods presented have been made.

These financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report on Form 10-K for

the fiscal year ended September 30, 2020.

The results of operations for the three and six months ended March 31, 2021 are not necessarily indicative of the operating results for the full fiscal year.

The Statements of Financial Condition and Schedules of Investment at June 30, 2021, and the Statements of Operations, Changes in Net Assets and Cash Flows for the three and nine months ended June 30, 2021 and 2020 have been prepared without audit.

In the opinion of management of the Sponsor, all adjustments (which include normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows as of and for the three and nine months ended June 30, 2021 and for all periods presented have been made.

These financial statements should be read in conjunction with the financial statements and notes thereto included in the Annual Report on Form 10-K

for the fiscal year ended September 30, 2020.

The results of operations for the three and nine months ended June 30, 2021 are not necessarily indicative of the operating results for the full fiscal year.

Significant Accounting Policies

4 unchanged sentences

Basis of Accounting

For accounting purposes, GLDM is an investment company within the scope of Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 946, Financial Services—Investment Companies, and

therefore applies the specialized accounting and reporting guidance therein.

It is not registered as an investment company under the Investment Company Act of 1940, as amended.

19 unchanged sentences

(Amounts in 000’s of US$)

March 31, 2021

June 30, 2021

Investment in Gold

2 unchanged sentences

Investment in Gold

There were no transfers between Level 1 and other Levels for the six months ended March 31, 2021 or for the year ended September 30, 2020.

There were no transfers between Level 1 and other Levels for the nine months ended June 30, 2021 or for the year ended September 30, 2020.

The Administrator values the gold held by GLDM on the basis of the price of an ounce of gold as determined by ICE Benchmark Administration Limited (the “IBA”), a benchmark administrator, which provides an independently administered auction process, as well as the overall administration and governance for the London Bullion Market Association (the “LBMA”).

5 unchanged sentences

Gold is held by the Custodian on behalf of GLDM.

During the six months ended March 31, 2021 and the year ended September 30, 2020, no gold was held by a subcustodian.

During the nine months ended June 30, 2021 and the year ended September 30, 2020, no gold was held by a subcustodian.

Gold Receivable

12 unchanged sentences

As the Shares are redeemable in Creation Units at the option of the Authorized Participants, GLDM has classified the Shares as Net Assets for financial reporting purposes.

Changes in the Shares for the six months ended March 31, 2021 and 2020 are as follows:

Changes in the Shares for the nine months ended June 30, 2021 and June 30, 2020 are as follows:

(Amounts are in 000’s)

9 unchanged sentences

A gain or loss is recognized based on the difference between the selling price and the average cost of the gold sold, and such amounts are reported as net realized gain/(loss) from investment in gold sold to pay Sponsor expenses on the Statement of Operations.

GLDM’s net realized and change in unrealized gain/(loss) on

investment in gold for the six months ended March 31, 2021 of $( 444,088 ) is made up of a realized gain of $ 346 from the sale of gold to pay Sponsor fees, a realized gain of $ 36,875 from gold distributed for the redemption of shares, and a change in unrealized depreciation of $(

GLDM’s net realized and change in unrealized gain/(loss) on investment in gold for the nine months ended June 30, 2021

of $( 283,201 ) is made up of a realized gain of $ 500 from the sale of gold to pay Sponsor fees, a realized gain of $ 36,894 from gold distributed for the redemption of shares, and a change in unrealized depreciation of $ (

320,595 ) on investment in gold.

GLDM’s net realized and change in unrealized gain/(loss) on

investment in gold for the six months ended March 31, 2020 of $ 91,685 is made up of a realized gain of $ 116 from the sale of gold to pay Sponsor fees, a realized gain of $ 8,005 from gold distributed for the redemption of shares, and a change in unrealized appreciation of $ 83,564 on investment in gold.

GLDM’s net realized and change in unrealized gain/(loss) on investment in gold for the nine months ended June 30, 2020

of $ 284,239 is made up of a realized gain of $ 232 from the sale of gold to pay Sponsor fees, a realized gain of $ 32,748 from gold distributed for the redemption of shares, and a change in unrealized appreciation of $ 251,259 on investment in gold.

GLDM is classified as a “grantor trust” for U.S.

3 unchanged sentences

Instead, its income and expenses “flow through” to the shareholders, and the Administrator will report GLDM’s proceeds, income, deductions, gains and losses to the Internal Revenue Service on that basis.

The Sponsor has evaluated whether there are uncertain tax positions that require financial statement recognition and has determined that no reserves for uncertain tax positions are required as of March 31, 2021.

March 31, 2021, the 2019 and 2018 tax years remain open for examination.

As of June 30,

2021, the 2019 and 2018 tax years remain open for examination.

There were no examinations in progress at period end.

37 unchanged sentences

Financial Highlights

The following presentation includes financial highlights related to investment performance and operations of a Share outstanding for the three and six months ended March 31, 2021 and 2020.

The following presentation includes financial highlights related to investment performance and operations of a Share outstanding for the three and nine months ended June 30, 2021 and June 30, 2020.

The total return at net asset value is based on the change in net asset value of a Share during the period and the total return at market value is based on the change in market value of a Share on NYSE Arca during the period.

17 unchanged sentences

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-Q

Item 1. Financial Statements