ordnance house, 31 pier road, st helier, - etf securities - website.pdf · all services are...

Registered in England No. 638315

Registered Address 2 Perry Road, Witham, Essex CM8 3TU

All services are rendered in accordance with Inspectorate’s General Terms and

Conditions of Business, available on request or at

www.inspectorate.com/terms_and_conditions/index.asp

Certified to

ISO 9001:2008

Inspectorate International Limited

2 Perry Road, Witham

Essex CM8 3TU T: +44(0) 1376 536800 F: +44(0) 1376 520819 E: [email protected]

January 11, 2016

The Directors

ETF Securities USA LLC

Ordnance House,

31 Pier Road,

St Helier,

Jersey, JE4 8PW

Dear Sirs,

Audit of Gold Bullion in respect of ETFS Precious Metals Basket Trust

ETF Securities USA LLC (the “Client”) has engaged Inspectorate International Limited (“Inspectorate”)

to conduct two inspections per year of the gold bullion held on behalf of ETFS Precious Metals

Basket Trust at the vault of J.P. Morgan Chase N.A, London (the “Custodian”).

It is with pleasure that we submit below our reports to the Client in accordance with the agreed

procedures for the audit reference date of December 31, 2015.

Name of Account Bank of New York Mellon as Trustee for ETFS Precious Metals Basket

Trust

Material London Good Delivery Gold Bars

Location J.P. Morgan Chase N.A, London

Results As at the close of business on December 31, 2015, ETFS Precious Metals

Basket Trust held title to 226 London Good Delivery Gold Bars said to be

of purity of 99.50% minimum, up to and including 99.99%. As per the

weight list records of the Custodian the fine weight troy ounces are said

to be:

London Good Delivery Gold Bars : 90,180.727 Tr oz






Certified to

ISO 9001:2008




Description of Activity Over the course of the inspection, we performed procedures including

but not limited to:

1. Compared the records of the Custodian to the records provided by

the Administrator to verify that the gold bars are held in the name

of the applicable account;

2. Reconciled the total weight of gold bullion as recorded by the

Administrator to the records of the Custodian as at the Audit

Reference Date;

3. Visually checked each bar for the bar number, brand and purity;

4. Weighed a random sample of gold bars, equating to approximately

2.5 percent of the bar list. Bars were weighed in troy ounces to the

nearest thousandth of an ounce. Details of each bar weighed were

recorded;

5. Reconciled the physical movement of bars which occurred during

the inspection period between December 31, 2015 and January 11,

2016.

Anomalies No anomalies were identified in respect of the gold bars as at December

31, 2015.

The audit was carried out to the best of our knowledge and this report reflects our findings as at the

time and place of the audit only.

For and on behalf of

INSPECTORATE INTERNATIONAL LIMITED

Inspectorate Reference: 16008817K Date: 15th

January 2016

Page 1 of 2



All services are rendered in accordance with Inspectorate’s General Terms and Conditions of Business, available on request or at


Certified to ISO 9001:2008

Inspectorate International Limited 2 Perry Road, Witham Essex CM8 3TU T: +44(0) 1376 536800 F: +44(0) 1376 520819 E: [email protected] www.inspectorate.com

The Directors


Ordnance House,

31 Pier Road,

St Helier,

Jersey, JE4 8PW

Dear Sirs,

Audit of Silver Bullion in respect of ETFS Precious Metals Basket Trust

ETF Securities USA LLC (the “Client”) has engaged Inspectorate International Limited (“Inspectorate”) to con-

duct two inspections per year of the silver bullion held on behalf of ETFS Precious Metals Basket Trust at the

vault of J.P. Morgan Chase N.A, London (the “Custodian”).

It is with pleasure that we submit below our reports to the Client in accordance with the agreed procedures

for the audit reference date of December 31, 2015.


Trust

Material London Good Delivery Silver Bars

Locations J.P. Morgan Chase N.A, London


Basket Trust held title to 3,416 London Good Delivery Silver Bars said to

be of purity of 99.90% minimum, up to and including 99.99%. As per the

weight list records of the Custodian the gross weight troy ounces are

said to be:

London Good Delivery Silver Bars : 3,305,816.300 Tr oz

Inspectorate Reference: 16008817K Date: 15th

January 2016

Page 2 of 2



All services are rendered in accordance with Inspectorate’s General Terms and Conditions of Business, available on request or at


Certified to ISO 9001:2008

Inspectorate International Limited 2 Perry Road, Witham Essex CM8 3TU T: +44(0) 1376 536800 F: +44(0) 1376 520819 E: [email protected] www.inspectorate.com


but not limited to:


the Administrator to verify that the silver bars are held in the name

of the applicable account;

2. Reconciled the total weight of silver bullion as recorded by the


Reference Date;

3. Visually checked one bar from each pallet for the bar number, brand

and purity;



2016.

Anomalies No anomalies were identified in respect of the silver bars as at

December 31, 2015.

The audit was carried out to the best of our knowledge and this report reflects our findings as at the time

and place of the audit only.



of 2 (15008817C)

v






Certified to

ISO 9001:2008



Essex CM8 3TU T: +44(0) 1376 536800 F: +44(0) 1376 520819 E: [email protected] www.inspectorate.com

January 8, 2016

The Directors


Ordnance House,

31 Pier Road,

St Helier,

Jersey, JE4 8PW

Dear Sirs,

Audit of Palladium Bullion in respect of ETFS Precious Metals Basket Trust


to conduct two inspections per year of the palladium bullion held on behalf of ETFS Precious Metals





Trust

Material London Good Delivery Palladium Bars



Basket Trust held title to 170 London Good Delivery Palladium Bars said

to be of purity of 99.95% minimum, up to and including 99.99%. As per

the weight list records of the Custodian the gross weight troy ounces are

said to be:

London Good Delivery Palladium Bars : 17,449.460 Tr oz

of 2 (15008817C)

v






Certified to

ISO 9001:2008





but not limited to:


the Administrator to verify that the palladium bars are held in the

name of the applicable account;

2. Reconciled the total weight of palladium bullion as recorded by the


Reference Date;


4. Weighed a random sample of palladium bars, equating to

approximately 2.5 percent of the bar list. Bars were weighed in troy

ounces to the nearest thousandth of an ounce. Details of each bar

weighed were recorded;



2016.

Anomalies No anomalies were identified in respect of the palladium bars as at

December 31, 2015.










Certified to

ISO 9001:2008




January 14, 2016

The Directors


Ordnance House,

31 Pier Road,

St Helier,

Jersey, JE4 8PW

Dear Sirs,

Audit of palladium bars in respect of ETFS Precious Metals Basket Trust


to conduct two inspections per year of the palladium bullion held on behalf of ETFS Precious Metals

Basket Trust at the vaults of UBS A.G., Zurich.



Name of Account Bank of New York Mellon as Trustee for ETFS Palladium Trust

Material London Good Delivery Palladium Bars

Location UBS A.G., Zurich

Results As at the Close of business on December 31, 2015, ETFS Precious Metals

Basket Trust held title to 5 London Good Delivery Palladium Bars said to

be of minimum purity 99.95% up to and including 99.99%. As per weight

list records of the Custodian the gross weight are said to be:

London Good Delivery Palladium Bars: 513.984 troy ounces






Certified to

ISO 9001:2008





but not limited to:


the Administrator to verify that the palladium bars are held in the


2. Reconciled the total weight of palladium bullion as recorded by the


Reference Date;


4. Weighed a random sample of palladium bars, equating to

approximately 2.5 percent of the bar list. Bars were weighed in troy





2016.

Anomalies No anomalies were identified in respect of the Palladium bars as at

December 31, 2015.

The audit was carried out to the best of our knowledge and this report reflects our findings as at the time and

place of the audit only.



of 2 (15008817E)

v






Certified to

ISO 9001:2008




January 8, 2016

The Directors


Ordnance House,

31 Pier Road,

St Helier,

Jersey, JE4 8PW

Dear Sirs,

Audit of Platinum Bullion in respect of ETFS Precious Metals Basket Trust


to conduct two inspections per year of the platinum bullion held on behalf of ETFS Precious Metals





Trust

Material London Good Delivery Platinum Bars



Basket Trust held title to 87 London Good Delivery Platinum Bars said to

be of purity of 99.95% minimum, up to and including 99.99%. As per the

weight list records of the Custodian the gross weight troy ounces are

said to be:

London Good Delivery Platinum Bars : 11,634.148 Tr oz

of 2 (15008817E)

v






Certified to

ISO 9001:2008





but not limited to:


the Administrator to verify that the platinum bars are held in the


2. Reconciled the total weight of platinum bullion as recorded by the


Reference Date;


4. Weighed a random sample of platinum bars, equating to

approximately 5 percent of the bar list. Bars were weighed in troy





2016.

Anomalies No anomalies were identified in respect of the platinum bars as at

December 31, 2015










Certified to

ISO 9001:2008




January 14, 2016

The Directors


Ordnance House,

31 Pier Road,

St Helier,

Jersey, JE4 8PW

Dear Sirs,

Audit of platinum bars in respect of ETFS Platinum Trust


to conduct two inspections per year of the platinum bullion held on behalf of ETFS Precious Metals

Basket Trust at the vaults of UBS A.G., Zurich.




Trust

Material London Good Delivery Platinum Bars

Location UBS A.G., Zurich

Results As at the Close of business on December 31, 2015, ETFS Precious Metals

Basket Trust held title to 2 London Good Delivery Platinum Bars said to

be of purity of 99.95% minimum and up to and including 99.99%. As per

the weight list records of the Custodian the gross weight troy ounces are

said to be:

London Good Delivery Platinum Bars: 339.946 Tr. Oz.






Certified to

ISO 9001:2008





but not limited to:


the Administrator to verify that the platinum bars are held in the


2. Reconciled the total weight of platinum bullion as recorded by the


Reference Date;


4. Weighed a random sample of platinum bars, equating to 100

percent of the bar list (two bars). The bars were weighed in troy

ounces to the nearest thousandth of an ounce. Details of the bar




2016.

Anomalies No anomalies were identified in respect of the platinum bars as at

December 31, 2015.





ordnance house, 31 pier road, st helier, - etf securities - website.pdf · all services are...

Documents