BlackRock Gold & General A

  • 1221.00p
    Price (Inc)

    These are the shares in the fund that pay out an income to clients. The income is made up of the total dividends – the money a company can pay out to its investors – from the companies in the fund.

  • 1289.00p
    Price (Acc)

    These are the shares in the fund that don’t pay out an income to clients. Any dividends – the money a company can pay out to its investors – are reinvested into companies in the fund. Despite no income, the shares should be worth more over time. Good incentive, eh?

  • 5.00% 0.00%

    Initial charge

    Some funds charge you when you first invest, which is aptly known as the initial charge. They’re usually between 3-5% but at Bestinvest, we usually don’t charge you a penny!

  • 1.75%
    Annual management charge

    This is how much the fund management company charges to run the fund. It’s like paying a babysitter, dog sitter or house sitter (that makes well-informed, heavily researched changes to improve your baby/dog/house when needed).

  • 1.92%
    Ongoing charges

    This stands for Ongoing Charges Figure. It’s the cost of running a fund and includes admin fees, manager fees, administration costs, etc.

  • 0.00%
    Yield

    How much the fund is currently paying out in income to investors. It’s NOT to be confused with the overall growth of a fund – a very different thing indeed. It’s also NOT a guarantee of future pay-outs, just a snapshot. This is more what it’s not than what it is…

Prices as at 26 November 2020, fund data last updated 20 October 2015

This fund looks to maximize long term capital growth by investing in a portfolio of gold mining stocks. Up to 30% of the portfolio can be held in other precious metals producers. It is managed on a “best ideas” basis and as such is benchmark agnostic. Due to the specialist nature of this fund the returns are likely to experience higher than average volatility.

Fund summary

Sector Specialist
Structure UNIT TRUST
Launched
Size £1,770m
Yield 0.00%
Charging basis Income
Dividends paid 30 Aug

Charges

Standard initial charge 5.00%
Initial charge via Bestinvest 0.00%
Annual management charge 1.75%
Ongoing charges figure 1.92%

Allocation

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Investment process

The managers have identified an investible universe of some 500 stocks. After applying a macro overlay (to highlight such issues as liquidity and high risk) this has been reduced to around 150 companies, which the team follows closely. BlackRock looks to identify companies offering the best exposure to metals and minerals prices at an acceptable level of risk. Other factors specifically taken into account are growth potential and management quality. Involvement in exploration plays and producers with complex hedging strategies is limited, whilst mid cap growth producers with quality assets tend to be emphasized. The portfolio is constructed on a “best ideas” basis. As such, it is benchmark agnostic, sector and country weightings being a byproduct of the stocks selected. The list is typically 50-80 holdings, the largest of which must be less than 10% of the portfolio value. Up to 30% can be held in other precious metals stocks.

This is a traditional long only and ungeared fund; obtaining its exposure to gold and precious metals via related quoted equities. Long term performance has been similar to that of its better peers, but all of them have lagged the returns that have been achieved from direct physical gold investment, which we prefer for such exposure. If this fund is to generate attractive absolute returns, it needs a strong rise in the price of gold, thus allowing gold miners' geared exposure to the gold price to eventually have an impact upon profits and share prices.

Manager research

Average monthly relative returns

  • 15/16 0.00%
  • 16/17 0.00%
  • 17/18 0.00%
  • 18/19 0.00%
  • 19/20 0.00%

Bestinvest MRI

  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%
  • 3 years 0.00%
  • 5 years 0.00%
  • Career 0.00%

Performance figures are based on the average of monthly percentage returns relative to the benchmark index.

Track record

Periods of worst performance

Absolute 0.00% ()
Relative 0.00% ()

About the MRI

Our unique indicator: the Bestinvest Manager Record Index (MRI) measures the likelihood that the fund manager is adding value through their decisions. It is based on their performance record over the course of their career, adjusted for the amount of risk taken. MRI is an important contributor to our fund rating system but it is also vital to take account of qualitative factors. It is also very important to select funds to form a cohesive portfolio with an appropriate overall risk level.

Allocation

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Sector breakdown

Gold 93.00%
Precious Metals & Stones 3.00%
Precious Metals & Stones 2.00%
Money Market 2.00%

Portfolio

Target portfolio of 50-80 stocks. Up to 30% in non-gold miners. Benchmark agnostic. Max individual stock weighting = 10%.

Key Investor Information - Income

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Key Investor Information - Accumulation

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