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EXCEL - IDEA: XBRL DOCUMENT - CURRENCYSHARES BRITISH POUND STERLING TRUSTFinancial_Report.xls
10-K - 10-K - CURRENCYSHARES BRITISH POUND STERLING TRUSTd449428d10k.htm
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EX-3.2 - EX-3.2 - CURRENCYSHARES BRITISH POUND STERLING TRUSTd449428dex32.htm
EX-4.4 - PARTICIPANT AGREEMENT - CURRENCYSHARES BRITISH POUND STERLING TRUSTd449428dex44.htm
EX-23.1 - EX-23.1 - CURRENCYSHARES BRITISH POUND STERLING TRUSTd449428dex231.htm
EX-32.1 - EX-32.1 - CURRENCYSHARES BRITISH POUND STERLING TRUSTd449428dex321.htm
EX-32.2 - EX-32.2 - CURRENCYSHARES BRITISH POUND STERLING TRUSTd449428dex322.htm
EX-31.1 - EX-31.1 - CURRENCYSHARES BRITISH POUND STERLING TRUSTd449428dex311.htm
EX-31.2 - EX-31.2 - CURRENCYSHARES BRITISH POUND STERLING TRUSTd449428dex312.htm
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v2.4.0.6
Organization and Description of the Trust
12 Months Ended
Oct. 31, 2012
Organization and Description of the Trust [Abstract]  
Organization and Description of the Trust
1. Organization and Description of the Trust

The CurrencyShares ® British Pound Sterling Trust (the “Trust”) was formed under the laws of the State of New York on June 8, 2006 when Guggenheim Specialized Products, LLC d/b/a “Guggenheim Investments” (the “Sponsor”) deposited 100 British Pounds Sterling in the Trust’s primary deposit account held by JPMorgan Chase Bank N.A., London Branch (the “Depository”). The Sponsor is a Delaware limited liability company whose sole member is Security Investors LLC (also d/b/a “Guggenheim Investments”). The Sponsor is responsible for, among other things, overseeing the performance of The Bank of New York Mellon (the “Trustee”) and the Trust’s principal service providers, including the preparation of financial statements. The Trustee is responsible for the day-to-day administration of the Trust.

The investment objective of the Trust is for the Trust’s shares (the “Shares”) to reflect the price of the British Pound Sterling plus accrued interest less the Trust’s expenses and liabilities. The Shares are intended to provide investors with a simple, cost-effective means of gaining investment benefits similar to those of holding British Pounds Sterling. The Trust’s assets primarily consist of British Pounds Sterling on demand deposit in two deposit accounts maintained by the Depository: a primary deposit account which may earn interest and a secondary deposit account which does not earn interest. The secondary deposit account is used to account for any interest that may be received and paid out on creations and redemptions of blocks of 50,000 Shares (“Baskets”). The secondary account is also used to account for interest earned, if any, on the primary deposit account, pay Trust expenses and distribute any excess interest to holders of Shares (“Shareholders”) on a monthly basis.

The accompanying audited financial statements were prepared in accordance with accounting principles generally accepted in the United States of America.