Gold Fund Holdings Update – November 2022 and Attribution Analysis

Nov 24th, 2022 12:26 EST

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:

DomicileFund NameFund FeesHoldings Report
Funds Reporting Monthly
USAFidelity Select GoldSummarySep, 2022
USAFranklin Gold & Precious Metals Fund (USA)SummaryOct, 2022
LuxembourgFranklin Gold & Precious Metals Fund (Lux)SummaryOct, 2022
USAVanEck International Investors Gold FundSummaryOct, 2022
USAVanEck VIP Global Gold FundSummaryOct, 2022
Funds Reporting Quarterly
USAAmerican Century Global Gold FundSummarySep, 2022
USAUSAA Precious Metals and Minerals FundSummarySep, 2022
USAUS Global Investors Gold and Precious Metals FundSummaryJun, 2022
USAUS Global Investors World Precious MineralsSummaryJun, 2022
USAOCM Gold FundSummaryAug, 2022
Funds Reporting Annually / Semi Annually
LuxembourgKonwave Gold Equity FundSummaryJun, 2022
LuxembourgNinety One Global Gold Fund (Lux)SummaryJun, 2022
LuxembourgInvesco Gold and Special Minerals Fund (Lux)SummaryAug, 2022
LuxembourgNESTOR Gold FundSummaryJun, 2022
LuxembourgKonwave Sustainable Gold Equity FundSummaryJun, 2022
LuxembourgClaresco Or et Metaux PrecieuxSummaryJun, 2022
UKBlackRock Gold & General FundSummaryAug, 2022
UKJunior Gold and Silver Miners FundSummaryAug, 2022
FranceAmundi Actions OrSummaryJun, 2022
Cayman IslandGold 2000 Ltd.SummaryMay, 2022
Cayman IslandGold 3000 Ltd.SummaryJun, 2022
GermanyEarth Gold Fund UISummaryJun, 2022
AustriaAmundi Gold StockSummaryOct, 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 HoldingsCompanies Divested
NoneNone
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 USD31.Oct.2022$329 M USD
New Company HoldingsCompanies DivestedNew Company HoldingsCompanies 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 USD31.Oct.2022$37 M USD
New Company HoldingsCompanies DivestedNew Company HoldingsCompanies Divested
NoneGold Fields LimitedNoneGold 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 MONTHLY          ATTRIBUTION 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 HoldingsCompanies Divested
Predictive DiscoveryGreat Bear Resources
Rupert ResourcesPretium 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[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/145661

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