A traditional safe haven during market corrections
Gold outperformed S&P 500 during all major correction, except in 1980–82
We believe now is an opportune time to invest gold equities.
Following the industry restructuring we expect gold equities to continue to provide positive leverage to the rising gold price as well be able to protect value in a less favourable commodity price environment. The Investec Global Gold Fund has delivered outperformance against the index and, in bull markets, against physical gold since November 1990.
Investec Global Gold Fund vs. Physical gold performance since November 1990 (Nov 1990 = 100)
Source: Bloomberg, Investec Asset Management, since inception of fund on 31.12.99 to 30.09.17. NAV based, inclusive of all annual management fees but excluding all initial charges, gross income reinvested, in US$.
|1 year||3 years p.a.||5 years p.a.||10 years p.a.||Since inception p.a.**|
|Investec GSF Global Gold A Acc||-13.5%||4.4%||-11.1%||-3.8%||
|Euromoney Global Gold TR (pre 01.10.14 PR)**||-10.2%||5.7%||-13.0%||-5.3%||0.7%|
Past performance should not be taken as a guide to the future, losses may be made. Data is not audited. Source: Morningstar, dates to 30.09.17, NAV based, inclusive of all annual management fees but excluding any initial charges, gross income reinvested, in US$. *Comparative index changed from Euromoney Global Gold PR to Euromoney Global Gold TR on 01.10.14. **Inception date 26.11.90.
|Comparative index||Euromoney Global
|Morningstar category||Equity Precious Metals|
All information is as at 30.09.17 unless otherwise stated.
The Fund’s investment objectives and performance targets will not necessarily be achieved and there is no guarantee that these investments will make profits; losses may be made.
Fund specific risks:
Geographic / Sector: Investments may be primarily concentrated in specific countries, geographical regions and/or industry sectors. This may mean the value of the Fund may decrease whilst more broadly invested funds might grow.
Currency exchange: Changes in the relative values of different currencies may adversely affect the value of the Fund’s investments and any related income.
Derivatives: The use of derivatives is not intended to increase the overall level of risk in the Fund. However, the use of derivatives may still lead to large changes in the value of the Fund and includes the potential for large financial loss.
Liquidity: There may be insufficient buyers or sellers of particular investments giving rise to delays in trading and being able to make settlements from the Fund and/or large fluctuations in the value of the Fund which may lead to larger financial losses than might be anticipated.
Third party operational: The Fund’s operations depend on third parties. Investors in the Fund may suffer disruption or financial loss in the event of third-party operational failure.
Equity investment: The value of equities (e.g. shares) and equity-related investments may vary according to company profits and future prospects as well as more general market factors. In the event of a company default (e.g. bankruptcy), the owners of their equity rank last in terms of any financial payment from that company.
Concentrated portfolio: The Fund invests in a relatively small number of individual holdings. This may mean the value of the Fund may fluctuate more widely than more broadly invested funds.