Invesco CurrencyShares Swiss Franc Trust reported a net comprehensive loss of $158,211 for the fiscal year ending December 31, 2024, a notable improvement from a loss of $453,245 in the previous year. The Trust's interest income increased to $458,644, up from $318,783 in 2023, while total expenses decreased to $616,855 from $772,028. The reduction in expenses was primarily due to a decrease in the Sponsor's fee, which is calculated at an annual nominal rate of 0.40% of the Swiss Francs held in the Trust. The Trust's net asset value (NAV) per share was $142,170,627, reflecting a decrease in the total redeemable capital shares from 1,800,000 in 2023 to 1,450,000 in 2024.
The Trust's assets, primarily consisting of Swiss Franc deposits, decreased to $142,218,802 from $190,371,716 year-over-year. This decline was attributed to significant redemptions of shares, with 750,000 shares redeemed during the year, compared to 1,050,000 in the previous year. The Trust's cash balance at the end of 2024 was $142,209,321, down from $190,287,878 at the end of 2023. The decrease in assets and cash was influenced by market volatility and the strength of the U.S. dollar, which pressured the value of the Swiss Franc.
Operationally, the Trust continues to function as a passive investment vehicle, with no significant changes in its organizational structure or strategic direction. The Trust does not engage in activities designed to profit from fluctuations in the Swiss Franc's price, and it does not hold or use derivative products. The Trust's only recurring expense is the Sponsor's fee, which is managed by Invesco Specialized Products, LLC. The Trust's NAV is calculated daily based on the Swiss Franc/USD exchange rate, and the Trust's website provides daily updates on its holdings.
Looking ahead, the Trust's performance remains closely tied to fluctuations in the Swiss Franc's value against the U.S. dollar. The Trust's management has indicated that ongoing geopolitical tensions and economic conditions will continue to impact the Swiss Franc's performance. The Trust's ability to generate interest income that exceeds its expenses will be critical in maintaining the value of the shares. The Trust's management remains vigilant regarding market conditions and is prepared to adjust its strategies as necessary to protect shareholder interests.
About Invesco CurrencyShares Swiss Franc Trust
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