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Gold Fund Holdings Update – May 2022 and Attribution Analysis

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Toronto, Ontario–(Newsfile Corp. – May 26, 2022) – This report details the most recent portfolio holdings for Precious Metal Managed Funds and summarizes changes in portfolio holdings.

A Copy of the Full Report is Available to Read by Following the Link Below:
https://MineralFunds.com/portfolio-holdings-update-may-2022

Gold & Precious Metal Funds included in this report:

Domicile Fund Name Fund Fees
  Funds Reporting Monthly  
USA Fidelity Select Gold Fund Summary
USA Sprott Gold Equity Fund Summary
USA VanEck International Investors Gold Fund Summary
USA USAA Precious Metals and Minerals Fund Summary
USA Franklin Gold & Precious Metals Fund Summary
USA VanEck VIP Global Gold Fund  Summary
     
     
  Funds Reporting Annually / Semi Annually  
USA Allspring Precious Metals Fund Summary
Luxembourg BAKERSTEEL Precious Metals Fund Summary
Luxembourg Konwave Gold Equity Fund Summary
Luxembourg CPR Invest – Global Gold Mines Summary
Luxembourg Franklin Gold and Precious Metals Fund (Lux) Summary
Luxembourg Deutsche Invest I Gold & Precious Metals Equities Summary
Luxembourg Schroder International Selection Fund Global Gold Summary
Luxembourg STABILITAS Pacific Gold+Metals Summary
Luxembourg DJE Gold & Ressourcen Summary
Luxembourg iW Precious Metal Mining Equities Summary
Luxembourg Landolt Investment (Lux) SICAV – Gold Summary
Luxembourg STABILITAS Gold+Ressourcen Special Situations Summary
Luxembourg NESTOR Gold Fund Summary
Luxembourg Crossinvest Metals and Mining Equity Summary
Luxembourg Konwave Sustainable Gold Equity Fund Summary
UK ES Baker Steel Gold and Precious Metals Fund Summary
UK Junior Gold and Silver Miners Fund Summary
France Tocqueville Gold Fund Summary

 

ATTRIBUTION ANALYSIS:

A portfolio holding ‘attribution analysis‘ is undertaken on the portfolios of every gold fund that reports full asset allocations monthly, and on any fund that reports with assets in excess of USD $1billion. The analysis includes a list of any companies which are new to a portfolio, and also a list of companies which have been completely sold from or ‘dropped’ from a portfolio.

The summary below outlines which companies have been added, and are new, to a given portfolio and which companies have been sold from, and are no longer held by, a given portfolio.

FUNDS REPORTING MONTHLY

Fidelity Select Gold Fund 

31.Mar.2022

  Sprott Gold Equity Fund
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31.Mar.2022

Added Dropped   Added Dropped
  Freeport-McMoran Inc.   Evolution Mining Corvus Gold Inc.
  Kinross Gold Corp.   Victoria Gold Corp. Hochschild Mining
      WestGold Resources Pretium Resources Inc. (Acquired)
         
Largest Position:     Largest Position:  
Newmont Corp. (NYSE: NEM) 15.86%   Gold Bullion 11.18%
         
VanEck International Investors Gold Fund  

30. Apr.2022

  USAA Precious Metals and Minerals Fund 

31.Mar.2022

Added Dropped   Added Dropped
      Shandong Gold Mining Co Novagold Resources Inc.
      Newcrest Mining Ltd. Golden Star Resources Ltd.
        Kirkland Lake Gold
         
Largest Position:     Largest Position:  
Agnico Eagle Mines Ltd. (TSX: AEM) 9.41%   Newmont Corp. (NYSE: NEM) 14.59%
         
Franklin Gold & Precious Metals Fund (USA) 

30. Apr.2022

  VanEck VIP Global Gold Fund                    

30. Apr.2022

Added Dropped   Added Dropped
Aston Minerals Ltd.        
Monarch Mining Corp.        
Solstice Minerals Ltd.        
TDG Gold Corp.        
         
Largest Position:     Largest Position:  
Endeavour Mining PLC (TSX: EDVM) 5.10%   Agnico Eagle Mines Ltd. (TSX: AEM)   9.31%

 

ATTRIBUTION ANALYSIS FUNDS REPORTING MONTHLY

Fidelity Select Gold Fund largest holding, Newmont Corp. (NYSE: NEM), increased significantly over the month from $264.8 M USD to 317.8M USD (an increase of $53.4M USD) representing 15.8% of the Fund’s total holdings on 31 March 2022 up from 15.1% on 28 February 2022. This is perceived to be defensive positioning in advance of medium-term gold mining share capital market contractions.

During the same month, the Fidelity Select Gold Fund completely sold its position in Kinross Gold Corp. (TSX: K), a holding which on 28 February 2022 had been valued at $24.9M USD. The Fund liquidated its entire Kinross holding before the April-May selloff took shares from above $8.00 in early April 2022 to below $5.25 in early May 2022.

During the month of March 2022, the Fidelity Select Gold Fund increased the relative size of its holdings in: Lundin Gold, Inc. (TSX: LUG) from $24.2M USD (1.38%) to $33.4M USD (1.67%), Skeena Resources Ltd. (TSX: SKE) from $20.8M USD (1.19%) to $27.8M USD (1.39%) and i-80 Gold Corp. (TSX: IAU) from $21.7M USD (1.24%) to $27.5M USD (1.38%). The Fund also purchased an entirely new position in Artemis Gold, Inc. (TSXV: ARTG) valued at $19.9M USD and representing (.99%) of the total portfolio at month end on 31 March 2022. Artemis Gold, Inc. is beginning pre-construction work on the ‘Blackwater’ project in Central British Columbia and is expected to receive the BC Mines Act Permit by early Fall of 2022.

VanEck International Investors Gold Fund reduced holdings for 14 of 43 positions in the portfolio to address portfolio redemptions and a reduction in Fund size. 28 of 43 portfolio holdings remained unchanged and only one portfolio holding increased in size over the month. On 31 March 2022, the portfolio held 9,185,099 shares of Benchmark Metals, Inc. (TSXV: BNCH) representing 0.8% of the portfolio. On 30 April 2022, this position had increased to 10,463,099 shares representing 0.86% of the portfolio. This position increase did not come from warrant exercise as the portfolio continues to hold unexercised warrants. Benchmark Metals Inc. (TSXV: BNCH) has completed 18,000 meters of drilling and is expecting to release a new PEA study for the company’s ‘Lawyer’s Gold & Silver Project’ by July of this year. 

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USAA Precious Metals and Minerals Fund largest holding, Newmont Corp. (NYSE: NEM), remained unchanged at 1,267,934 shares valued at $100,737,356 USD representing 14.6% of the portfolio on 31 March 2022. The Fund significantly increased its holding of Agnico Eagle Mines Ltd. (TSX: AEM) from 431,673 shares to 915,857 shares valued at $56,050,448 USD and representing 8.1% of the portfolio on 31 March 2022. The Fund’s shares of Pretium Resources Inc. (TSX: PVG) valued at $7,867,504 USD on 31 Dec 2021 were converted to Newcrest Mining Ltd (TSX: NCM) pursuant to acquisition and the position size was reduced to 3,786,833 USD representing 0.55% of the portfolio on 31 March 2022.

Russia Exposure for: USAA Precious Metals and Minerals Fund

On 24 February 2022 (date of Russia’s invasion of Ukraine) USAA Precious Metals and Minerals Fund held 62,088 shares of PJSC Polyus (MCX: PLZL), Russia’s biggest gold mining company, a position which had been valued at $10,832,283 USD on 31 December 2021. On 31 March 2022 the Fund continued to hold 62,088 shares of PJSC Polyus which had been revalued down to $350,332 USD (a write down of $10.48M USD for the quarter).

On 31 December 2021 USAA Precious Metals and Minerals Fund held 613,760 shares of Polymetal International PLC (LON: POLY) (MCX: POLY) valued at $10,893,403 USD. Polymetal International PLC is listed in London and Moscow and holds a portfolio of gold and silver mines in Russia, Kazakhstan and Russian controlled Armenia. During Q.1 of 2022 the Fund increased its holdings of Polymetal International PLC (LON: POLY) (MCX: POLY) to 757,840 shares, but this position had a decrease in value to $3,058,712 USD on 31 March 2022 (a write down of $7,834,691 USD for the quarter).

USAA Precious Metals and Minerals Fund wrote down a combined $18.3M USD (~3% of portfolio NAV) on two Russian gold mining company investments in Q.1 of 2022.

FUNDS REPORTING WITH AUM > 1B USD

BAKERSTEEL Precious Metals Fund 
31.Dec.2021
Added Dropped
Northern Star Resources Ltd. First Majestic Silver Corp.
  Pretium Resources Inc. (Acquired)
Largest Position:  
Kinross Gold Corp. (TSX: K) 5.07%

 

ATTRIBUTION ANALYSIS FUNDS REPORTING WITH AUM > $1B USD

BAKERSTEEL Precious Metals Fund assets exceeded $1B USD for the first time as reported on 31 December 2021 and so the Fund is now included in Attribution Analysis Funds Reporting with AUM > $1B USD.

Between June and December 2021, a substantial portfolio sector re-allocation was directed towards Australia. Assets invested in Australia increased from 13.5% of the Fund on 30 June 2021 to 21% on 31 December 2021. Increases were made to all Australian holdings with a substantial new position valued at €34.02 M EUR (3.95% of the portfolio) initiated in Northern Star Resources Ltd. (ASX: NST) which has operations in West Australia and Alaska. The Fund’s largest holding on 31 December 2021 was Kinross Gold Corporation (TSX: K) a position which was valued at €43.7 M EUR (5.07% of the portfolio). On 30 Jun 2021 the Fund’s largest position had been Kirkland Lake Gold Inc. (TSX: KL) which subsequently completed a merger with Agnico Eagle Mines Ltd. (TSX: AEM). During the period the Fund reduced exposure to silver mining selling out completely from its holding of First Majestic Silver Corp. (TSX: FR) which supported a position valued at €8.79 M EUR on 31 June 2021 and reducing its holding of Mag Silver Corp. (TSX: MAG) from 566,000 shares (valued at €9.6 M EUR) to 283,000 shares (valued at €3.8 M EUR). 

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Russia Exposure for: BAKERSTEEL Precious Metals Fund

On 30 June 2021 the Fund held 213,700 shares of PJSC Polyus (MCX: PLZL), Russia’s biggest gold mining company, a position valued at €17.2 M EUR. On 31 December 2021 the Fund continued to hold 213,700 shares valued at €16.3 M EUR.

On 30 June 2021 the Fund held 1,431,000 shares of Polymetal International PLC (LON: POLY) (MCX: POLY) valued at €26.0 M EUR. On 31 December 2021 the Fund had significantly reduced this holding to 693,000 shares valued at €10.6 M EUR

The Fund had a combined exposure of €26.9 M EUR (~3% of portfolio NAV) to two Russian gold mining company investments on 31 December 2021.

A complete list of Precious Metal Managed Funds and their respective portfolio holdings can be found at:
https://mineralfunds.com/gold-funds/

About MineralFunds.com

MineralFunds.com provides prices, performance and trade information for all the world’s metal ETFs including Precious Metals, Battery Metals, Platinum Group Metals and Base Metals and comprehensive fund information, including asset allocations, for Gold & Precious Metals Managed Funds from all international investment jurisdictions.

For further information please contact:
(416) 525 – 6869
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/125446

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Former MD of SUI Foundation, Greg Siourounis, Joins xMoney Global as Co-Founder and CEO to build MiCA-Regulated Stablecoin Platform

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xMoney Global, the global, inter-bank and cross crypto/fiat integrated payments platform has appointed award-winning economist Dr. Greg Siourounis as Co-Founder and CEO. The company is a Mastercard principal member, with strategic European licenses, such as e-Money and VASP.

As the digital landscape continues to evolve with the coming MiCA regulation, xMoney Global intends to lead Europe into this new transformative EU regulated stablecoin era. Greg Siourounis will lead the integration of xMoney’s advanced blockchain-enabled payments infrastructure with its upcoming stablecoin program. Stablecoins are a key driver of blockchain adoption in today’s market, now surpassing Bitcoin, remittances, and PayPal in annual transaction volume. As such, xMoney’s Global reputation positions it to bridge Web3 innovation with traditional finance, leading Europe into a new transformative EU regulated stablecoin era.

Dr. Greg, who has played a pioneering role in the growth of Sui Foundation as its former Managing Director and who previously founded Everypay, will drive xMoney Global’s next wave of growth. Beyond the standard reference of his academic work in 2024’s Nobel Prize in Economics, Dr. Greg’s career is also decorated with awards such as the 2005 Young Economist Award from The European Economic Association and the 2008 Austin Robinson Prize from The Royal Economic Society. His immediate target will be to focus on partnerships, regulatory alignment and market expansion, as xMoney Global looks to build a comprehensive payments platform that bridges legacy financial systems with the potential of decentralized finance.

Commenting on his appointment, Dr. Greg Siourounis, CEO of xMoney Global, said, “As Europe prepares to embrace MiCA regulation, xMoney Global is positioned to redefine what compliant, secure, and seamless digital payments can be. Our goal is to deliver a solid and trusted ecosystem that combines the strengths of traditional finance with the flexibility of blockchain technology to create a future-ready payment experience.”

Beniamin Mincu, Co-founder of MultiversX, said, “xMoney Global’s mission aligns perfectly with the vision of MultiversX to bring scalable and secure blockchain solutions to mainstream finance. This appointment marks a significant step toward building a more inclusive and resilient financial system.”

The launch of xMoney Global aims to offer a next-gen blockchain-as-a-service module backed by its native stablecoin, with key white-labeled services including acquiring, issuing, onramps/offramps and a sticky loyalty program, all backed by MultiversX’s state-of-the-art sharding technology. Following the surge in crypto markets after Trump’s pro-crypto Presidential win, xMoney will be ideally placed to accelerate real-world adoption as the easiest way for everyone (consumers, retail and e-commerce) to seamlessly access fiat and crypto currencies in an app, card or payment gateway.

The post Former MD of SUI Foundation, Greg Siourounis, Joins xMoney Global as Co-Founder and CEO to build MiCA-Regulated Stablecoin Platform appeared first on News, Events, Advertising Options.

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Fintech Pulse: A Daily Dive into Industry Innovations and Developments

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The financial technology sector continues to evolve at a rapid pace, offering innovations that disrupt traditional paradigms. Today’s briefing underscores fintech’s diverse growth avenues: from substantial venture capital plays and strategic partnerships to groundbreaking implementations in lending. Here’s a closer look at recent developments shaping the landscape.


Synapse’s Comeback and Andreessen Horowitz’s Strategic Bet

Source: Axios
Synapse, a financial infrastructure company previously embattled by controversy, is staging a remarkable comeback, backed by none other than venture capital heavyweight Andreessen Horowitz (a16z). With this new infusion of funds, Synapse aims to consolidate its position as a premier platform for building financial services tools.

This resurgence demonstrates the resilience of the fintech ecosystem, where innovation often prevails over turbulence. Synapse’s renewed vigor also signals that top-tier investors remain bullish on infrastructural solutions pivotal to the future of digital finance. Andreessen Horowitz’s participation not only validates Synapse’s model but also underscores the VC giant’s enduring interest in fintech infrastructure, even amid global economic uncertainties.

Analysis:
This partnership exemplifies the dynamism within fintech, highlighting the interplay of innovation, capital, and resilience. It also raises questions about the broader implications of giving second chances to firms with turbulent histories. While Synapse’s evolution could inspire others, it also places a spotlight on governance and accountability in high-growth sectors.


Israel’s Fintech Scene Gets a Boost with Investment in Finova Capital

Source: Calcalistech
Israeli fintech startup Finova Capital has raised an impressive $20 million in a funding round led by prominent institutional investors. This marks a significant milestone for the company as it seeks to expand its suite of financial solutions aimed at underserved markets.

Israel’s fintech ecosystem has long been recognized as a hub of innovation, and this latest investment only reinforces its global standing. Finova Capital’s focus on empowering smaller businesses and fostering financial inclusivity aligns with emerging trends where tech-driven solutions bridge critical gaps in financial services.

Analysis:
With this funding, Finova is poised to enhance its technological offerings while contributing to economic inclusion. However, the broader fintech industry will watch closely to see how the company leverages this capital amid increasing competition from regional and global players.


India’s Yubi Plans a Fundraising Push

Source: Bloomberg
Yubi, a prominent Indian fintech platform backed by Insight Partners, is reportedly preparing for a new fundraising round. Having already established itself as a leader in credit infrastructure, Yubi aims to bolster its offerings and expand its market footprint.

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India’s fintech landscape is witnessing explosive growth, with platforms like Yubi playing a critical role in the credit ecosystem. Yubi’s planned fundraising reflects the broader appetite for scaling solutions that streamline credit access, particularly in emerging markets where traditional lending models often fall short.

Analysis:
This development highlights two key trends: the increasing reliance on credit platforms in high-growth economies and the strategic role of international investors like Insight Partners in driving fintech innovation. Yubi’s expansion plans could set a precedent for other regional fintech players seeking to scale amid global economic headwinds.


Provenir and Hastings Financial Services Win Global Recognition

Source: Business Wire
In a testament to the transformative power of digital lending solutions, Provenir and Hastings Financial Services have been jointly recognized for the Best Digital Lending Implementation at the IBSi Global Fintech Innovation Awards. This accolade underscores the success of their collaboration in modernizing the lending process through cutting-edge technology.

Provenir’s advanced decision-making platform and Hastings Financial Services’ lending expertise have delivered a solution that significantly enhances user experience, operational efficiency, and risk management. Such innovations highlight the increasing role of partnerships in advancing fintech’s digital transformation.

Analysis:
This recognition not only validates the efficacy of digital lending but also emphasizes the importance of partnerships in driving innovation. It signals to the industry that collaboration can be a powerful tool for staying ahead in a rapidly evolving marketplace.


Microf and Quantum Financial Technologies Forge New Alliances

Source: PR Newswire
Microf, a financial solutions provider, has announced a strategic partnership with Quantum Financial Technologies. This collaboration aims to expand lending solutions for contractors, providing streamlined access to capital for businesses in need of flexible financing options.

This partnership is a timely response to the growing demand for specialized financial products in niche markets. By leveraging Quantum’s technology, Microf can now offer more tailored solutions, particularly to contractors navigating complex financial requirements.

Analysis:
This development reflects a growing trend: the diversification of fintech offerings to serve specific market segments. As competition in mainstream fintech intensifies, targeting underserved niches could become a defining strategy for success.


Key Takeaways for the Fintech Ecosystem

  1. Resilience in Fintech Funding: Despite economic uncertainties, venture capital continues to fuel innovative fintech players like Synapse and Finova Capital.
  2. Regional Growth Stories: From Israel to India, fintech ecosystems are thriving, attracting global attention and investment.
  3. Collaboration as a Catalyst: The success of partnerships like Provenir-Hastings and Microf-Quantum underscores the importance of strategic alliances.
  4. The Power of Recognition: Awards like the IBSi Fintech Innovation Awards validate industry achievements, inspiring others to push the envelope.
  5. Focus on Inclusion: Whether through credit platforms or lending solutions, fintech is playing a pivotal role in fostering financial inclusivity worldwide.

Looking Ahead: Challenges and Opportunities

The fintech sector’s journey is far from linear. Regulatory complexities, technological disruptions, and market volatility remain persistent challenges. However, as seen in today’s developments, the opportunities far outweigh the risks. By prioritizing innovation, collaboration, and inclusivity, fintech players can navigate the complexities of the global financial landscape.

This moment in fintech history is pivotal. It’s a time for bold decisions, strategic partnerships, and a commitment to bridging financial divides. As industry players rise to the occasion, the road ahead promises a future where technology and finance intertwine to empower individuals and businesses alike.

 

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Fintech Latvia Association Releases Fintech Pulse 2024: A Guide to Latvia’s Growing Fintech Hub

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The Fintech Latvia Association has launched the latest edition of its annual publication, Fintech Pulse 2024, unveiling insights and resources that position Latvia as a thriving hub for European fintech.

Announced at this year’s Fintech Forum, the magazine is now available in digital format, offering a comprehensive guide for fintech professionals and entrepreneurs navigating the Latvian market and exploring its advantages.

This issue covers essential topics, from support tools provided by Latvijas Banka and newcomer roadmaps to Riga’s investor resources and fintech education opportunities. Readers will find the latest fintech news from Latvia, coverage of this year’s key industry events, and member insights on the future of fintech. The Fintech Landscape section provides a comprehensive overview of the Latvian fintech ecosystem.

Tina Lūse, Managing Director of Fintech Latvia Association, expressed excitement about the ecosystem’s growth: “We are excited to unveil the third annual edition of Fintech Pulse. This year has been pivotal for our ecosystem, and together with public sector stakeholders, we are enhancing financial inclusion, democratizing investments, and driving innovation throughout the sector. This is a testament to Latvia’s emergence as a fintech hub, establishing itself as an equal partner in innovation and support within the Baltic region.”

Minister of Finance Arvils Ašeradens highlighted Latvia’s fintech potential in the magazine, stating: “Latvia has already made strides in adapting its regulatory framework to support a stable financial system. Now, we encourage financial market players to invest in modern technologies to meet the growing demand for inclusive financial services and solidify Latvia’s position in the fintech landscape. We are confident that with the combined offer of the government, Latvijas Banka and Riga city, we are a great place to start your next scalable European FinTech!”

Minister of Economics Viktors Valainis expressed Latvia’s ambition in the magazine, stating: “Latvia wants to become a WEB 3.0. innovation hub and solidify itself as one of the leaders of a newly regulated EU crypto-asset market. We welcome international companies to choose Latvia, a flexible and fast-paced country, where you can obtain a MICA license in just 3 months. Open your office in Latvia, receive a MICA license and serve the whole EU market!”

The Fintech Latvia Association brings together fintech and non-banking financial service providers to represent their interests at both the national and international levels. It promotes sustainable development in Latvia’s financial sector by fostering reliable, responsible, and long-term industry practices that earn trust from consumers and regulatory authorities. The association is committed to supporting innovation and growth opportunities within the fintech landscape.

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