Company: FXB
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0000950170-25-027271
Chunk: 32

Company: Invesco CurrencyShares British Pound Sterling Trust
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1B
Chunk 32
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 the interest deposited, if any, exceeds the sum of the Sponsor’s fee for the prior month plus other Trust expenses, if any, the Trustee converts the excess into USD at the prevailing market rate and distributes the USD as promptly as practicable to Shareholders on a pro-rata basis (in accordance with the number of Shares that they own). Distributions paid during the current reporting period follow (annualized yield reflects the estimated annual yield an investor would receive if a monthly distribution stayed the same for the entire year going forward, and is calculated by annualizing the monthly distribution and dividing by the Trust NAV for the dates listed below):

    FXB Distribution History

    Date
     
    Value

    NAV

    Yield
     
    Annualized Yield

    10/1/2024
     
    $
    0.32270

    $
    129.18

    0.25%
     
    3.04%

    11/1/2024
     
    $
    0.32154

    $
    123.82

    0.26%
     
    3.06%

    12/2/2024
     
    $
    0.29157

    $
    122.38

    0.24%
     
    2.90%

Results of Operations 

        	During the years ended December 31, 2024 and 2023, the Trust's net comprehensive income (loss) was, in part, impacted by market volatility resulting from expectations around the Federal Reserve (the “Fed”) easing and heightened geopolitical concerns for 2024, and the US banking sector turmoil for 2023 which are considered to be unusual or infrequent events. Although the full and direct impact of Fed easing expectations, rising geopolitical tensions, and the US banking sector turmoil on the Trust's net comprehensive income (loss) during the years ended December 31, 2024 and 2023 cannot be known, it is believed that they have each independently impacted the Closing Spot Rate, the interest rate paid by the Depository, and the global economy and markets generally, including the number of Shares created and redeemed by the Trust.

The British pound sterling (GBP/USD) ended 2024 only slightly negative, largely due to sharp losses in the fourth quarter. While the pair saw strong gains in Q3, it fluctuated throughout the first half of the year, mainly on US dollar moves. The Fed