Ninety One Global Gold I

Invests in gold miners with up to 1/3 in other precious metals

  • 236.89p
    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.

  • -
    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?

  • 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!

  • 0.75%
    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).

  • 0.87%
    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.

  • 0.10%
    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 29 September 2020

The fund aims to achieve long term capital growth primarily through investment in gold mining equities. It may also invest up to one third of the fund in companies that are involved in mining for other precious metals and minerals and other metals. The fund is benchmark agnostic, portfolio weightings being based on conviction levels determined by a bottom up fundamentals based stock selection process.

Fund summary

Sector Specialist
Structure OEIC
Launched June, 2007
Size £425m
Yield 0.10%
Charging basis Income
Dividends paid Acc units only

Charges

Standard initial charge 0.00%
Initial charge via Bestinvest 0.00%
Additional bid/offer spread 0.00%
Annual management charge 0.75%
Ongoing charges figure 0.87%

Allocation

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Investment process

Manager research

Average monthly relative returns

  • 15/16 -0.31%
  • 16/17 -0.31%
  • 17/18 0.74%
  • 18/19 -0.39%
  • 19/20 0.15%

Bestinvest MRI

  • 3 years 0.17%
  • 5 years -0.02%
  • Career 0.07%
  • 3 years 71.20%
  • 5 years 55.60%
  • Career 65.90%

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

Bradley George / Scott Winship

Geroge is the Head of Commodities & Resources at Investec Asset Management having been appointed to this role in 2006. He joined Investec Asset Management in London, after spending seven years at Goldman Sachs where he worked as an Executive Director in the Commodity Division, involved in selling the GSCI (Goldman Sachs Commodity Index) to investors and commodity derivative hedging products to resource corporates. Prior to this he worked in the Goldman Sachs Investment Banking Division on Natural Resources M&A transactions in both London and South Africa. Previously he spent three years at KPMG in the Financial Services Division, Treasury Advisory Group, offering clients consultancy advice on financial derivatives risk management. Bradley graduated from the University of Cape Town with an Honours degree in Business Science in 1994. He completed his Post Graduate Diploma in Accounting (PGDA) from the University of Cape Town in 1995. In 1998 he was awarded the Chartered Accountant designation CA (SA).

Track record

Bradley George / Scott Winship has 6.9 years experience of managing mutual funds in this sector. Over this period the average monthly return relative to the benchmark index has been +0.07%. During the worst period of relative performance (from November 2014 - April 2017) there was a decline of 17% relative to the index. The worst absolute loss has been 41%. Statistically, we estimate the probability that this fund manager is adding value, rather than being lucky, is 66%.

Periods of worst performance

Absolute -41.00% (July 2014 - July 2015)
Relative -17.00% (November 2014 - April 2017)

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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Top 10 holdings

Data accurate as at 31 July 2020

9.4% Kirkland Lake Gold Inc
9.3% Agnico Eagle Mines
9.2% Newmont Corp
5.9% Endeavour Mining Corp
5.8% Anglogold Ashanti
4.5% B2gold Corp
4.5% Barrick Gold Corp
4.4% Gold Fields
4.3% Ssr Mining Inc
4% Northern Star Resources Ltd
Source: Trustnet

Sector breakdown

Gold 96.00%
Precious Metals & Stones 4.00%
Money Market 1.00%

Portfolio

Typically holds 30-50 stocks. Up to 1/3 in non-gold precious metals stocks. Maximum of 10% in any one stock.

Constraints

Max. 10% in any one stock. Max 5% cash

Key Investor Information

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