SMITH & WILLIAMSON GLOBAL GOLD & RESOURCES - Fund overview
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Overview of
SMITH & WILLIAMSON GLOBAL GOLD & RESOURCES
Managed by a very experienced team based in Canada, this fund invests predominantly in gold and resource equities with the former being greater than half of the fund's exposure. The team look to invest across the market capitalisation spectrum and are able to move relatively quickly due to the fund's relatively small size. Nevertheless investors should be aware that performance is likely to have a strong positive correlation to the gold price.
Standard Initial Charge
5.00% 0.00%
Invest via Bestinvest
to save 5.00%
Fund summary
| Sector |
Specialist
|
| Product type |
OEIC
|
| Launched |
December, 2004
|
| Size |
£72m
|
| Yield |
0.0%
|
| Charging basis |
–
|
| Dividends paid |
31/1, 31/5
|
| Bid price |
288.90p |
Fund Charges
|
Standard Initial charge
|
5.00%
|
|
Initial charge via Bestinvest
|
0.00%
|
|
Additional bid/offer spread
|
0.00%
|
|
Annual management charge
|
1.75%
|
|
Total expense ratio
|
1.86%
|
|
Reduction in yield (10yr)
|
1.86%
|
Bestinvest says
No information available.
Portfolio
| Allocation |
Proportion |
|
|
Equity |
0%
|
|
High yield bonds |
–
|
|
Quality bonds |
0%
|
|
Property |
0%
|
|
Commodities |
93%
|
|
Hedge |
–
|
|
Fund cash |
7%
|
|
Allocation
|
Proportion
|
|
|
|
|
UK
|
9%
|
|
|
Europe
|
1%
|
|
|
Nth America
|
82%
|
|
|
Japan
|
0%
|
|
|
Pacific
|
6%
|
|
|
Other Equity
|
2%
|
|
Allocation
|
Proportion
|
|
|
|
|
Large Caps
|
31%
|
|
|
Mid Caps
|
40%
|
|
|
Small Caps
|
29%
|
View all performance data for SMITH & WILLIAMSON GLOBAL GOLD & RESOURCES
Investment process
This is a UK mirror fund of the AGF Precious Metals fund managed in Canada. The managers have been running this fund for some time and it is unusual for such an experienced team to be running such a small amount of money.
The fund invests predominantly in Gold companies with the remainder in a broad range of sectors including other precious metals, diversified miners, steel and minerals.
The fund will have some exposure to large bellweather miners, especially those that have sufficient balance sheet strength to make acquisitions, but the management believe that greater value can be added through investing in small and medium size companies. This includes some frontier and exploration companies that may have only recently discovered mineral deposits but do not yet know the size of these discoveries. The managers will study these deposits including the geology of the area, access to transport and the quality of the deposits and, where they think that the risk reward is favourable, they will make a small investment which is subsequently increased as they feel more certain. These holdings are generally held for a significant period.
The fund may also invest in gold bullion shares, other transferable securities, money market instruments, deposits, collective investment schemes and warrants.