•The ETFS Physical Silver ETF (the Fund) is an exchange traded fund listed on The Stock Exchange of Hong Kong Limited (the SEHK). The Fund’s investment objective is to provide investment results, before fees and expenses, that closely correspond to the performance of the London Fix for silver.

•Price of physical precious metal is highly volatile and may fluctuate widely and may be affected by numerous events or factors related to its production and sale and other financial market factors. As the Fund is concentrated in physical precious metal, it is more susceptible to the effects of such price volatility than more diversified funds. Investment in the Fund may therefore be subject to losses and, in the worst case scenario, you may lose all of your investment.

•As the Fund primarily holds physical bullion of precious metal, the safekeeping and custody of underlying precious metal and quality of precious metal held by the Fund are key considerations which investors must consider. Although the custodian is required to allocate bullions on a continuous basis once it reaches a whole bar, where bullions are held on an unallocated basis, the Fund has no proprietary rights to any specific bullion so held, and the Fund could suffer a significant loss on the custodian’s insolvency.

•Although the custodian may make insurance arrangements for the bullions held, it is not under an obligation to insure against loss, theft or damage. Further, neither the Manager nor the Trustee will maintain insurance for the bullions.

•The Fund is not actively managed and the Manager has no discretion to adapt to market changes. A fall in the London Fix for silver will result in a fall in the value of the Fund. There is also no assurance that the price at which Units of the Fund are traded on the SEHK will exactly reflect the price of underlying precious metal represented by those Units.

•As each Fund’s base currency and the London Fix for silver is in US dollars, the value of units in the Fund that are traded on the SEHK in Hong Kong dollars will be affected by changes in the exchange rate between these two currencies.

•The Fund is also subject to other risks, such as fixing process risk, limited operating history, tracking error risk and other trading risks. Investors should not make investment decisions on the basis of the content of website alone. Please read the prospectus for details and risk factors.