Invesco CurrencyShares British Pound Sterling Trust Files Q1 2024 10-Q

TL;DR

<b>Invesco CurrencyShares British Pound Sterling Trust filed its Q1 2024 10-Q, reporting on its financial status and operations.</b>

AI Summary

Invesco CurrencyShares British Pound Sterling Trust (FXB) filed a Quarterly Report (10-Q) with the SEC on May 8, 2024. Filed a 10-Q for the quarterly period ended March 31, 2024. The Trust's common units are traded on the NYSE Arca under the symbol FXB. The filing covers the period from January 1, 2024, to March 31, 2024. The registrant's principal executive offices are located in Downers Grove, Illinois. The Trust was incorporated in New York.

Why It Matters

For investors and stakeholders tracking Invesco CurrencyShares British Pound Sterling Trust, this filing contains several important signals. This filing provides investors with an update on the Trust's performance and holdings for the first quarter of 2024. As a trust tracking the British Pound Sterling, its performance is directly tied to currency exchange rates, making this report crucial for understanding its value.

Risk Assessment

Risk Level: low — Invesco CurrencyShares British Pound Sterling Trust shows low risk based on this filing. The filing is a standard quarterly report (10-Q) for a financial trust, indicating routine operations with no immediate high-risk indicators presented in the header information.

Analyst Insight

Review the detailed financial statements and disclosures within the 10-Q to assess the Trust's performance and any changes in its holdings or operational status.

Key Numbers

• 2024-03-31 — Quarterly Period End Date (Reported period)
• 2024-05-08 — Filing Date (Date of submission)
• 001-32906 — Commission File Number (SEC filing identifier)

Key Players & Entities

• Invesco CurrencyShares British Pound Sterling Trust (company) — Registrant name
• FXB (company) — Trading Symbol
• NYSE Arca (company) — Exchange
• Invesco Specialized Products, LLC (company) — Sponsor
• New York (company) — State of Incorporation
• Downers Grove, Illinois (company) — Business Address

FAQ

Industry Context

The Invesco CurrencyShares British Pound Sterling Trust is an exchange-traded fund designed to track the price movements of the British Pound Sterling against the US Dollar.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, specifically Section 13 or 15(d), which governs periodic reporting requirements for public companies and certain other entities.

What Investors Should Do

1. Analyze the Trust's net asset value and any changes in its holdings for Q1 2024.
2. Review the disclosures regarding the British Pound Sterling's performance against the USD during the reporting period.
3. Check for any updates on the Trust's operational status or sponsor-related information.

Key Dates

• 2024-03-31: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-05-08: Filing Date — Date the 10-Q report was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending March 31, 2024, following the previous fiscal year-end reporting.

Filing Documents

• fxb-20240331.htm (10-Q) — 516KB
• fxb-ex31_1.htm (EX-31.1) — 14KB
• fxb-ex31_2.htm (EX-31.2) — 14KB
• fxb-ex32_1.htm (EX-32.1) — 9KB
• fxb-ex32_2.htm (EX-32.2) — 9KB
• img227281918_0.jpg (GRAPHIC) — 207KB
• img227281918_1.jpg (GRAPHIC) — 267KB
• img227281918_2.jpg (GRAPHIC) — 173KB
• 0000950170-24-054967.txt (&nbsp;) — 3334KB
• fxb-20240331.xsd (EX-101.SCH) — 287KB
• fxb-20240331_htm.xml (XML) — 146KB

Financial Statements

Financial Statements 1 Notes to Unaudited Financial Statements 6 ITEM 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 10 ITEM 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 13 ITEM 4.

Controls and Procedures

Controls and Procedures 13 PART II. OTHER INFORMATION 14 Item 1.

Legal Proceedings

Legal Proceedings 14 Item 1A.

Risk Factors

Risk Factors 14 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 14 Item 3. Defaults Upon Senior Securities 14 Item 4. Mine Safety Disclosures 14 Item 5. Other Information 14 Item 6. Exhibits 15

– FINANCI AL INFORMATION

PART I – FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements. Invesco CurrencyShares British Pound Sterling Trust March 31, 2024 and December 31, 2023 (Unaudited) March 31, 2024 December 31, 2023 Assets British Pound Sterling deposits, interest bearing $ 72,810,503 $ 85,722,013 Receivable from accrued interest 219,030 282,429 Total Assets $ 73,029,533 $ 86,004,442 Liabilities British Pound Sterling deposits, non-interest bearing, overdrawn $ 10,298 $ 14,218 Redemptions payable 6,067,542 — Accrued Sponsor's fee 23,905 30,908 Total Liabilities 6,101,745 45,126 Commitments and Contingent Liabilities (Note 8) Redeemable Capital Shares and Shareholders' Equity Redeemable Capital Shares, at redemption value, no par value, 550,000 and 700,000 issued and outstanding, respectively 66,927,788 85,959,316 Shareholders' Equity: Retained Earnings — — Total Liabilities, Redeemable Capital Shares and Shareholders' Equity $ 73,029,533 $ 86,004,442 See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements. 1 Invesco CurrencyShares British Pound Sterling Trust For the Three Months Ended March 31, 2024 and 2023 (Unaudited) Three Months Ended March 31, 2024 2023 Income Interest Income $ 709,197 $ 721,797 Total Income 709,197 721,797 Expenses Sponsor's fee ( 77,268 ) ( 111,637 ) Total Expenses ( 77,268 ) ( 111,637 ) Net Comprehensive Income (Loss) $ 631,929 $ 610,160 Basic and Diluted Earnings (Loss) per Share $ 1.00 $ 0.63 Weighted-average Shares Outstanding 634,066 968,333 See accompanying Notes to Unaudited Financial Statements which are an integral part of the financial statements. 2 Invesco CurrencyShares British Pound Sterling Trust

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations. Cautionary Statement Regarding Forward-Looking Information This report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be identified by words such as "anticipate," "expect," "intend," "plan," "believe," "seek," "outlook" and "estimate" and other similar words. Forward-looking statements are based upon our current expectations and beliefs concerning future developments and their potential effects on us. Such forward-looking statements are not guarantees of future performance. Various factors may cause our actual results to differ materially from those expressed in our forward-looking statements. These factors include fluctuations in the price of the British Pound Sterling, as the value of the Shares relates directly to the value of the British Pounds Sterling held by the Trust and price fluctuations could materially adversely affect an investment in the Shares. Readers are urged to review the "Risk Factors" section contained in the Trust's most recent annual report on Form 10-K for a description of other risks and uncertainties that may affect an investment in the Shares. Neither Invesco Specialized Products, LLC (the "Sponsor") nor any other person assumes responsibility for the accuracy or completeness of forward-looking statements contained in this report. The forward-looking statements are made as of the date of this report, and will not be revised or updated to reflect actual results or changes in the Sponsor's expectations or predictions. Overview/Introduction The Invesco CurrencyShares British Pound Sterling Trust (the "Trust") is a grantor trust that was formed on June 8, 2006. The Shares began trading on the New York Stock Exchange under the ticker symbol "FXB" on June 26, 2006. The primary listing of the Shares was transferred to NYSE Arca, Inc. ("NYSE Arca") o

View Full Filing

View this 10-Q filing on SEC EDGAR