The iShares Silver Trust’s investment objective is to, “reflect, at any given time, the price of silver owned by the trust at that time less the trust’s expenses and liabilities. The iShares are intended to constitute a simple and cost-effective means of making an investment similar to an investment in silver. An investment in physical silver requires expensive and sometimes complicated arrangements in connection with the assay, transportation, warehousing and insurance of the metal. Traditionally, such expense and complications have resulted in investments in physical silver being efficient only in amounts beyond the reach of many investors. The iShares have been designed to remove the obstacles represented by the expense and complications involved in an investment in physical silver, while at the same time having an intrinsic value that reflects, at any given time, the price of the silver owned by the trust at such time less the trust expenses and liabilities. Although the iShares are not the exact equivalent of an investment in silver, they provide investors with an alternative that allows a level of participation in the silver market through the securities market.” Silver owned by the trust will be held by the custodian in England, and other locations that may be authorized in the future. The agreement between the trust and the custodian is governed by English law.
|Profile as of 6/16/2009|
|Total Net Assets||$4,010,375,924||Ounces of Silver
|Shares Outstanding||284,850,000||Tonnes of Silver
|Expense Ratio||0.50%||Indicative Basket Silver Amount||49,226.300|
|Beta (vs. S&P 500)||0.48||Basket Silver Amount||49,226.900|
|NAV per SLV in Silver||98.453%|