Toronto, Ontario--(Newsfile Corp. - November 24, 2022) - This report details the most recent portfolio holdings for Precious Metal Managed Funds and summarizes changes in portfolio holdings.
A Copy of the Full Report is Available at the Link Below:
https://mailchi.mp/mineralfunds/portfolio-holdings-update-november-2022
Gold & Precious Metal Funds included in this report:
| Domicile | Fund Name | Fund Fees | Holdings Report | ||
| Funds Reporting Monthly | |||||
| USA | Fidelity Select Gold | Summary | Sep, 2022 | ||
| USA | Franklin Gold & Precious Metals Fund (USA) | Summary | Oct, 2022 | ||
| Luxembourg | Franklin Gold & Precious Metals Fund (Lux) | Summary | Oct, 2022 | ||
| USA | VanEck International Investors Gold Fund | Summary | Oct, 2022 | ||
| USA | VanEck VIP Global Gold Fund | Summary | Oct, 2022 | ||
| Funds Reporting Quarterly | |||||
| USA | American Century Global Gold Fund | Summary | Sep, 2022 | ||
| USA | USAA Precious Metals and Minerals Fund | Summary | Sep, 2022 | ||
| USA | US Global Investors Gold and Precious Metals Fund | Summary | Jun, 2022 | ||
| USA | US Global Investors World Precious Minerals | Summary | Jun, 2022 | ||
| USA | OCM Gold Fund | Summary | Aug, 2022 | ||
| Funds Reporting Annually / Semi Annually | |||||
| Luxembourg | Konwave Gold Equity Fund | Summary | Jun, 2022 | ||
| Luxembourg | Ninety One Global Gold Fund (Lux) | Summary | Jun, 2022 | ||
| Luxembourg | Invesco Gold and Special Minerals Fund (Lux) | Summary | Aug, 2022 | ||
| Luxembourg | NESTOR Gold Fund | Summary | Jun, 2022 | ||
| Luxembourg | Konwave Sustainable Gold Equity Fund | Summary | Jun, 2022 | ||
| Luxembourg | Claresco Or et Metaux Precieux | Summary | Jun, 2022 | ||
| UK | BlackRock Gold & General Fund | Summary | Aug, 2022 | ||
| UK | Junior Gold and Silver Miners Fund | Summary | Aug, 2022 | ||
| France | Amundi Actions Or | Summary | Jun, 2022 | ||
| Cayman Island | Gold 2000 Ltd. | Summary | May, 2022 | ||
| Cayman Island | Gold 3000 Ltd. | Summary | Jun, 2022 | ||
| Germany | Earth Gold Fund UI | Summary | Jun, 2022 | ||
| Austria | Amundi Gold Stock | Summary | Oct, 2022 |
A portfolio holding 'attribution analysis' is undertaken on the portfolios of gold funds that report asset allocations monthly, and on any fund with assets in excess of $1 Billion USD reporting during the period.
The analysis includes a list of companies which are new to a portfolio in the period 'New Company Holdings', and companies which have been eliminated from a portfolio during the period 'Companies Divested'.
FUNDS REPORTING MONTHLY
Fidelity Select Gold Fund
| 30.Sept.2022 | $1,179 M USD |
| New Company Holdings | Companies Divested |
| None | None |
| Largest Position: | |
| Newmont Corp. (NYSE: NEM) | 11.6% |
Franklin Gold & Precious Metals Fund (USA) Franklin Gold & Precious Metals Fund (Lux)
| 31.Oct.2022 | $831 M USD | 31.Oct.2022 | $329 M USD |
| New Company Holdings | Companies Divested | New Company Holdings | Companies Divested |
| De Grey Mining Ltd. | Argonaut Gold Inc. | De Grey Mining Ltd. | Argonaut Gold Inc. |
| Dacian Gold Inc. | Dacian Gold Inc. | ||
| Largest Position: | Largest Position: | ||
| Endeavor Mining (TSX: EDV) | 5.4% | Endeavor Mining (TSX: EDV) | 5.5% |
VanEck International Investors Gold Fund VanEck VIP Global Gold Fund
| 31.Oct.2022 | $588 M USD | 31.Oct.2022 | $37 M USD |
| New Company Holdings | Companies Divested | New Company Holdings | Companies Divested |
| None | Gold Fields Limited | None | Gold Fields Limited |
| Equinox Gold Corp. | Equinox Gold Corp. | ||
| Nighthawk Gold Corp. | Nighthawk Gold Corp. | ||
| Perpetua Resources Corp. | Perpetua Resources Corp. | ||
| Pure Gold Mining Inc. | Pure Gold Mining Inc. | ||
| Largest Position: | Largest Position: | ||
| Agnico Eagle M. Ltd. (TSX: AEM) | 9.8% | Agnico Eagle M. Ltd. (TSX: AEM) | 9.7% |
FUNDS REPORTING MONTHLYATTRIBUTION ANALYSIS
Fidelity Select Gold Fund
AUM for Fidelity Gold Fund decreased in September from $1,186 M USD to $1,179 M USD (-0.6%).
The Fund did not take on any new positions, nor fully divest from any positions during the month. The Fund's largest position remained Newmont Corp. (NYSE: NEM) with the weighting increasing very slightly on the month from 11.3% of the portfolio to 11.6% of the portfolio.
Franklin Gold & Precious Metals Fund (USA)
AUM for Franklin Gold and Precious Metals Fund (USA) decreased in October from $839 M USD to $831 M USD (-1.0%).
The Fund took up a new position in Australian listed De Grey Mining Ltd. (ASX: DEG). De Grey is expanding the Hemi discovery in Australia's Pilbara region. Hemi is an intrusion-related gold deposit type considered new to the Pilbara region and is showing gold mineralisation scale potential not previously encountered in the Mallina Basin.
During the month of October, the Fund divested of a holding in Australian listed Dacian Gold Inc. (ASX: DEG) after shares doubled in price pursuant to a takeover offer from Genesis Minerals Ltd. (ASX: GMD). The Fund also divested from its holding of Argonaut Gold Ltd. (TSX: AR).
Franklin Gold & Precious Metals Fund (Lux)
AUM for Franklin Gold and Precious Metals Fund (Lux) decreased in October from $334 M USD to $329 M USD (-1.5%).
VanEck International Investors Gold Fund
AUM for VanEck International Investors Gold Fund decreased in October from $611 M USD to $588 M USD (-3.8%).
During October the Fund divested fully from: Gold Fields Ltd. (JSE: GFI), Equinox Gold Corp. (TSX: EQX), Nighthawk Gold Corp. (TSX: NHK), Perpetua Resources Corp. (TSX: PPTA) and Pure Gold Mining Inc. (CVE: PGM.H).
After a difficult year for Pure Gold Mining Inc. (CVE: PGM.H) in which new senior management were recruited, and new credit facilities were secured and extended, on October 24th the company announced suspension of operations and closure of the PureGold Mine. The Fund liquidated its position in Pure Gold Mining Inc. during the month of October.
VanEck VIP Global Gold Fund
AUM for VanEck VIP Gold Gold Fund decreased in October from $39 M USD to $37 M USD (-5.1%).
The Fund's largest holding remains Agnico Eagle Mines Ltd. (TSX: AEM), the world's third largest publicly listed gold producer, representing 9.7% of the portfolio.
FUNDS AUM > $1 BILLION USD
BlackRock Gold & General Fund
Fund Comparison: February 28th, 2022 / August 31st, 2022
| 31.Aug.2022 | £874.75 M GBP |
| New Company Holdings | Companies Divested |
| Predictive Discovery | Great Bear Resources |
| Rupert Resources | Pretium Resources |
| Yamana Gold | |
| Largest Position: | |
| Barrick Gold Corp. (TSX: ABX) | 7.4% |
FUNDS AUM > $1 BILLION USD ATTRIBUTION ANALYSIS
BlackRock Gold & General Fund
AUM for BlackRock Gold and General Fund decreased over the period from: £1,173.58 M GBP on 28th February 2022 to £874.75 M GBP on 31st August 2022 (-25.5%). On August 31st the Fund's largest holding was Barrick Gold Corp. (TSX: ABX) representing 7.4% of the portfolio.
Two of the Fund's company investments were acquired during the period. Pretium Resources Inc. (TSX: PVG) was acquired by Newcrest Mining Ltd. (ASX: NCM) and Great Bear Resources Ltd. (TSX-V: GBR) was acquired by Kinross Gold Corp. (TSX: K).
During the period, the Fund took new positions in: Predictive Discovery Ltd. (ASX: PDI), Rupert Resources Ltd. (CVE: RUP) and Yamana Gold Inc. (TSX: YRI).
Predictive Discovery Ltd. (ASX: PDI) is focused on developing the Tier-1 Bankan Gold Discovery in Guinea, West Africa, and Rupert Resources Ltd. (CVE: RUP) is advancing the new Ikkari gold discovery in Lapland, Northern Finland. The Predictive Discovery Ltd. Bankan Gold Discovery is billed as the largest gold discovery in West Africa in the past decade.
Yamana Gold Inc. (TSX: YRI) is a Canadian company that owns and operates gold, silver and copper mines in Canada, Chile, Brazil and Argentina. Yamana Gold Inc. is currently the subject of a bidding competition between Agnico Eagle Mines Ltd. (TSX: AEM) and Pan American Silver Corp. (TSX: PAAS) on the one side and Gold Fields Ltd. (JSE: GFI) on the other.
'Increasing Shareholding' and 'Decreasing Shareholding' fields identify companies to which a fund is either increasing or, alternatively, decreasing exposure. This portfolio analysis information is available to Substack subscribers only.
A complete list of Precious Metal Managed Funds and their respective portfolio holdings can be found at:
https://mineralfunds.com/gold-funds/
Reported by: Khadijah Samnani, Analyst Supported By: Christopher Berlet BSc, CFA
For further information please contact:
(416) 525 - 6869
manager@mineralprices.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145661
