Gold Fund Holdings Update - March 2022
and Attribution Analysis
This report details the most recent portfolio holdings for Precious Metal Managed Funds and summarizes changes in portfolio holdings.
Gold & Precious Metal Funds included in this report:
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Domicile |
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Fund Name |
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Fund Fees |
Report |
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Funds Reporting Monthly |
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USA |
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Fidelity Select Gold |
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Summary |
Jan, 2022 |
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USA |
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Franklin Gold & Precious Metals Fund |
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Summary |
Feb, 2022 |
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USA |
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VanEck International Investors Gold Fund |
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Summary |
Feb, 2022 |
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USA |
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USAA Precious Metals and Minerals Fund |
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Summary |
Dec, 2021 |
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Funds Reporting Annually / Semi Annually |
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USA |
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Gabelli Gold Fund Inc. |
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Summary |
Dec, 2021 |
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USA |
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U.S. Global Investors Gold and Precious Metals Fund |
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Summary |
Dec, 2021 |
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USA |
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GAMCO Natural Resources, Gold & Income Trust |
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Summary |
Dec, 2021 |
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USA |
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U.S. Global Investors World Precious Minerals Fund |
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Summary |
Dec, 2021 |
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USA |
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Midas Fund Inc. |
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Summary |
Dec, 2021 |
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Canada |
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Dynamic Precious Metals Fund |
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Summary |
Dec, 2021 |
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Canada |
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Mackenzie Precious Metals Class |
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Summary |
Dec, 2021 |
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Canada |
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CI Precious Metals Fund |
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Summary |
Sep, 2021 |
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Canada |
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Dynamic Strategic Gold Class |
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Summary |
Dec, 2021 |
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Canada |
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IG Mackenzie Global Precious Metals Class |
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Summary |
Dec, 2021 |
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Canada |
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BMO Precious Metals Fund |
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Summary |
Sep, 2021 |
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Canada |
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CI Gold Corporate Class |
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Summary |
Sep, 2021 |
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France |
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Edmond de Rothschild Goldsphere |
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Summary |
Sep, 2021 |
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Malaysia |
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RHB Gold and General Fund |
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Summary |
Sep, 2021 |
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Germany |
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Earth Gold Fund UI |
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Summary |
Dec, 2021 |
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Singapore |
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United Gold & General Fund |
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Summary |
Dec, 2021 |
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Switzerland |
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Precious Capital Global Mining & Metals Fund |
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Summary |
Dec, 2021 |
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Liechtenstein |
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AIPM Junior Mining & Exploration UCITS Fund |
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Summary |
Dec, 2021 |
ATTRIBUTION ANALYSIS:
A portfolio holding ‘attribution analysis’ is undertaken on the portfolios of every gold fund that reports full asset allocations monthly, and on any fund that reports with assets in excess of USD $1billion. The analysis includes a list of any companies which are new to a portfolio, and also a list of companies which have been completely sold from or ‘dropped’ from a portfolio.
The summary below outlines which companies have been added, and are new, to a given portfolio and which companies have been sold from, and are no longer held by, a given portfolio.
ATTRIBUTION ANALYSIS FOR FUNDS REPORTING MONTHLY:
| Fidelity Select Gold (Jan 2022) |
|
Franklin Gold & Precious Metals Fund (Feb 2022) |
| Added |
Dropped |
|
Added |
Dropped |
| Nomad Royalty Co. Ltd. |
AngloGold Ashanti Ltd. |
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Kinross Gold Corp. |
Great Bear Resources Ltd.* |
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Zijin Mining Group Co. Ltd. |
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Kirkland Lake Gold Ltd.* |
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Treasury Metals Inc. |
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| VanEck International Investors Gold Fund (Feb 2022) |
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USAA Precious Metals and Minerals Fund (Dec 2022) |
| Added |
Dropped |
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Added |
Dropped |
| Reunion Gold Corporation |
Great Bear Resources Ltd.* |
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West African Resources Ltd. |
Seabridge Gold Inc. |
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Kirkland Lake Gold Ltd.* |
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Karora Resources Inc. |
Gold Resource Corp. |
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Pretium Resources Inc. |
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Victoria Gold Corp. |
McEwen Mining Inc. |
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Gatos Silver Ltd. |
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Chalice Mining Ltd. |
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Emerald Resources NL |
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Probe Metals Inc. |
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Eldorado Gold Corporation |
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*Companies that have been purchased
PORTFOLIO ATTRIBUTION COMMENTS:
We have yet to see evidence of portfolio liquidation for gold producers of the Russian Federation, but this may be evidenced in upcoming asset allocation surveys. Leading Russian gold producers include: PJSC Polyus, Polymetal International PLC. and Petropavlovsk PLC. Kinross Gold, Nord Gold and Highland Gold are also substantial gold producers from within the Russian Federation. Great Bear Resources Ltd. and Kirkland Lake Gold Ltd. have been acquired and are therefore no longer evidenced as portfolio holdings.
Fidelity Select Gold Fund has purchased a new portfolio position in Nomad Royalty Co. Ltd. (TSX: NSR, NYSE NSR).
A complete list of Precious Metal Managed Funds and their respective portfolio holdings can be found at:
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