Gold Fund Holdings Update – November 2022 and Attribution Analysis

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 Festival

Holdings Report

Funds Reporting Monthly

USA

Fidelity Select Gold

Summary

Sep, 2022

USA

Franklin Gold & Precious Metals Fund (USA)

Summary

October, 2022

Luxembourg

Franklin Gold & Precious Metals Fund (Lux)

Summary

October, 2022

USA

VanEck International Investors Gold Fund

Summary

October, 2022

USA

VanEck VIP Global Gold Fund

Summary

October, 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

June, 2022

USA

US Global Investors World Precious Minerals

Summary

June, 2022

USA

OCM Gold Fund

Summary

August, 2022

Funds Reporting Annually / Semi Annually

Luxembourg

Conwave Gold Equity Fund

Summary

June, 2022

Luxembourg

Ninety One Global Gold Fund (Lux)

Summary

June, 2022

Luxembourg

Invesco Gold and Special Minerals Fund (Lux)

Summary

August, 2022

Luxembourg

NESTOR Gold Fund

Summary

June, 2022

Luxembourg

Conwave Sustainable Gold Equity Fund

Summary

June, 2022

Luxembourg

Claresco Or et Metaux Precieux

Summary

June, 2022

UK

BlackRock Gold & General Fund

Summary

August, 2022

UK

Junior Gold and Silver Miners Fund

Summary

August, 2022

France

Amundi Actions Or

Summary

June, 2022

Cayman Islands

Gold 2000 Ltd.

Summary

May, 2022

Cayman Islands

Gold 3000 Ltd.

Summary

June, 2022

Germany

Earth Gold Fund UI

Summary

June, 2022

Austria

Amundi Gold Stock

Summary

October, 2022

A portfolio holdingattribution 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

$1.179M 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 Gray Mining Ltd.

Argonaut Gold Inc.

De Gray 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

$588M USD

31.Oct.2022

$37M 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 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 Gray Mining Ltd. (ASX: DEG). De Gray 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 mineralization 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 following 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.

FUND AUM > $1 BILLION USD

BlackRock Gold & General Fund

Fund Comparison: February 28th2022 / August 31St2022

31.Aug.2022

£874.75M 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%

FUND 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:

Gold Funds Asset Allocations

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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