UK OEIC

Global Gold

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A good diversifier for investors’ portfolios, a specialist gold equity fund with a successful long-term track record

Reasons to invest

  • Investing primarily in the shares of companies involved in gold mining which can provide leverage to movements in the gold price
  • Gold has traditionally acted as a ‘safe haven’ in periods of financial and political uncertainty
  • The Fund is run by a specialist team within our Natural Resource capability

Objective

Investment objective summary

  • The Fund aims to provide capital growth (to grow the value of your investment) over at least 5 years.
      • The Fund invests primarily (at least two-thirds) in the shares of companies around the world involved in gold mining and in related derivatives (financial contracts whose value is linked to the price of the shares of such companies).
      • The index used in the performance section is deemed to be a good representation of the Fund’s investable universe and is widely used, independently calculated and readily available.
      George Cheveley
      Portfolio Manager
      George is a portfolio manager and metals and mining specialist in the Natural Resources team. George...

      Performance & commentary

      Literature

      Portfolio & Holdings

      Date as of 28/02/2025
      Fund
      Canada
      39.4
      Australia
      29.1
      United States
      20.1
      South Africa
      10.4
      United Kingdom
      1
      *Offshore and/or Mainland

      Specific fund risks

      Commodity-related investment

      Commodity prices can be extremely volatile and losses may be made.

      Concentrated portfolio

      The portfolio invests in a relatively small number of individual holdings. This may result in wider fluctuations in value than more broadly invested portfolios.

      Currency exchange

      Changes in the relative values of different currencies may adversely affect the value of investments and any related income.

      Derivatives

      The use of derivatives is not intended to increase the overall level of risk. However, the use of derivatives may still lead to large changes in value and includes the potential for large financial loss. A counterparty to a derivative transaction may fail to meet its obligations which may also lead to a financial loss.

      Equity investment

      The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. insolvency), the owners of their equity rank last in terms of any financial payment from that company.

      Geographic / Sector

      Investments may be primarily concentrated in specific countries, geographical regions and/or industry sectors. This may result in wider fluctuations in the value of the portfolio compared to more broadly invested portfolios.

      We recommend that you seek independent financial advice to ensure this Fund is suitable for your investment needs.

      All the information contained in this communication is believed to be reliable but may be inaccurate or incomplete. Any opinions stated are honestly held but are not guaranteed and should not be relied upon.

      This communication is provided for general information only. It is not an invitation to make an investment nor does it constitute an offer for sale. The full documentation that should be considered before making an investment, including the Prospectus and Key Investor Information Documents, which set out the Fund specific risks, are available from Ninety One. This Fund should be considered as a long-term investment.

      Performance data source: © Morningstar, NAV based, (net of fees, excluding initial charges), total return for GSF Luxembourg domiciled funds and net income reinvested where applicable for OEIC United Kingdom domiciled funds, in the share class dealing currency. Performance would be lower had initial charges been included as an initial charge of up to 5% (10% for S shares) may be applied to your investment. This means that for an investment of $1,000, where the initial charge equals 5%, $950 ($900 for S shares) would actually be invested in the Fund. Returns to individual investors will vary in accordance with their personal tax status and tax domicile.

      For a full description of the Morningstar rating for funds, please see the attached guide. A rating is not a recommendation to buy, sell or hold a fund.

      The overall rating for a fund, often called the ‘star rating’, is a third party rating derived from a quantitative methodology that rates funds based on an enhanced Morningstar™ Risk-Adjusted Return measure. ‘Star ratings’ run from 1 star (lowest) to 5 stars (highest) and are reviewed at the end of every calendar month. The various funds are ranked by their Morningstar™ Risk-Adjusted Return scores and relevant stars are assigned. It is important to note that individual shareclasses of each fund are evaluated separately and their ratings may differ depending on the launch date, fees and expenses relevant to the shareclass. In order to achieve a rating the share class of a fund must have a minimum three-year performance track record.

      The portfolio may change significantly over a short period of time. This is not a buy or sell recommendation for any particular security. Figures may not always sum to 100 due to rounding. 

      For an explanation of statistical terms, please see our glossary.

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