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Nw: Gold Fund Holdings Update – April 2022 and Attribution Prognosis

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ATTRIBUTION ANALYSIS:

A portfolio conserving ‘attribution analysis’ is undertaken on the portfolios of every and each gold fund that reports full asset allocations month-to-month, and on any fund that reports with sources in excess of USD $1billion. The analysis involves a checklist of any corporations that are unique to a portfolio, and additionally a checklist of corporations which were entirely offered from or ‘dropped’ from a portfolio.

The summary under outlines which corporations were added, and are unique, to a given portfolio and which corporations were offered from, and are now no longer held by, a given portfolio.

ATTRIBUTION FOR FUNDS REPORTING MONTHLY AND FUNDS WITH ASSETS> $1BILLION USD

  First Eagle Gold (Jan 2022)     Invesco Gold & Special Minerals Fund (Jan 2022)  
Added Dropped Added Dropped
No unique names Kirkland Lake Gold Ltd.(bought) Capricorn Metals  IGO Ltd
Anglogold Ashanti Falcon Metals  Canada Silver Cobalt Works Inc
Firefinch Ltd  Grand Undergo Resources Inc.(bought)
  Fidelity Procure Gold (Feb 2022)   Pilbara Minerals  Unusual Chanced on Gold Corp
Added Dropped Lithium The United States Corp.  Pretium Resources Inc
Freeport-McMoRan Inc Kirkland Lake Gold Ltd.(bought) Pretium Resources Inc Gran Colombia Gold Corp
Osisko Pattern Corporate Endeavour Mining PLC Cameco Corp  Somberero Resources 
Tronox Holdings plc  Tier One Silver 
  Franklin Gold & Treasured Metals Fund (Mar 2022)    Anaconda Mining 
Added Dropped Canterra Gold 
Bonterra Resources Inc Pretium Resources Inc Coppernico Metals 
Gangfeng Lithium Co Ltd

PORTFOLIO ATTRIBUTION COMMENTS:

Fidelity Procure Gold Fund has taken a unique set in Osisko Pattern Corp. (TSX-V: ODV). Osisko Pattern Corp. has no longer too long within the past performed a 3:1 consolidation and has a unique emphasis on dilution address a watch on and cash trail with the trudge vogue with plenty of shut to-time-frame production projects within the pipeline. The firm has additionally no longer too long within the past performed acquisition of the excessive-grade gold producing Trixie Mine property within the Tintic Mining District of Utah, that can arrive its winning production profile.

Invesco Gold & Special Minerals Fund has again had significant portfolio turnover. The Fund has elevated its conserving of Mineral Alamos, Inc. (TSX-V: MAI) having no longer too long within the past bought an further 1,900,00 shares. Minera Alamos continues to document on vogue and optimization of it’s Santana Gold Mine. The Fund has offered, or relocated, all of its conserving in Unusual Chanced on Gold Corp. (TSX-V: NFG) which at October 31st, 2021 stood at 870,000 shares valued at $6,769,635 USD (January 31st,2022 – $0). The Fund offered its set in Ganfeng Lithium Co. Ltd. (SHE: GFL), which is listed in Shanghai and headquartered in China, and acquired a unique conserving in Lithium Americas Corp. (NYSE: LAC). This can also simply be evidence of the rising vogue in direction of resource nationalism.

Most gold fund portfolios occupy minimal exposure to Russian sanctions. Russian gold refineries were suspended from London’s gold market, the sector’s greatest, suggesting that the availability of gold can also simply was extra constrained as quiz is rising.

A full checklist of Treasured Steel Managed Funds and their respective portfolio holdings will also be chanced on at:

Source

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