Fintech
Gold Fund Holdings Update – August 2022 and Attribution Analysis
Toronto, Ontario–(Newsfile Corp. – August 23, 2022) – This report details the most recent portfolio holdings for Precious Metal Managed Funds and summarizes changes in portfolio holdings in August 2022.
A Copy of the Full Report is Available to Read by Following the Link Below:
https://mineralfunds/portfolio-holdings-update-august-2022
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
| 30.Jun.2022 | $1,380 M USD |
| Added | Dropped |
| Ivanhoe Electric, Inc. | Alexco Resource Corp. |
| New Pacific Metals Corp. | |
| Foran Mining Corp. | |
| Largest Position: | |
| Newmont Corp. (NYSE: NEM) | 15.0% |
| Franklin Gold & Precious Metals Fund (USA) | Franklin Gold and Precious Metals Fund (Lux) | ||
| 31.Jul.2022 | $986 M USD | 31.Jul.2022 | $478 M USD |
| Added | Dropped | Added | Dropped |
| Bravo Mining Corp. | Los Cerros Ltd. | Bravo Mining Corp. | Los Cerros Ltd. |
| Genesis Minerals Ltd. | Royal Bafokeng Platinum Ltd. | Genesis Minerals Ltd. | Royal Bafokeng Platinum Ltd. |
| Reunion Gold Corp. | Reunion Gold Corp. | ||
| Largest Position: | Largest Position: | ||
| Endeavor Mining (TSX: EDV) | 5.3% | Endeavor Mining (TSX: EDV) | 5.2% |
| VanEck International Investors Gold Fund | VanEck VIP Global Gold Fund | ||
| 31.Jul.2022 | $687 M USD | 31.Jul.2022 | $44 M USD |
| Added | Dropped | Added | Dropped |
| Largest Position: | Largest Position: | ||
| Franco-Nevada Crp. (TSX: FNV) | 9.3% | Franco-Nevada Crp. (TSX: FNV) | 9.2% |
FUNDS REPORTING MONTHLY ATTRIBUTION ANALYSIS
The Fund’s largest holding, Newmont Corp. (NYSE: NEM), increased in size in relative terms again this month from 14.6% to 15.0% of the portfolio, despite a decrease in holding size from $237.5 M USD to $208.8 M USD (-$18.7 M USD). The Newmont holding became a larger relative holding because the world’s largest listed gold company decreased in value by a lesser amount than smaller company holdings in a declining gold market over the month of June 2022.
During June 2022, Fidelity Select Gold Fund took a new position in Ivanhoe Electric, Inc. (NYSE: IE). The position was valued at $8.7 M USD representing 0.63% of the portfolio at month end. Ivanhoe Electric, Inc. is a newly listed company (listed June 2022) Chaired by mining financier Robert Friedland and is focused on the discovery of electric metals such as copper, gold, silver and nickel primarily in the USA.
The Fund also initiated a position in New Pacific Metals Corp. (TSX: NUAG). At month end the position was valued at $4.3 M USD representing 0.3% of the portfolio. New Pacific Metals holds three advanced stage, high quality silver projects in Bolivia including the Silver Sand project which was one of the earliest mineral discoveries in Bolivia.
Finally, the Fund also took on a new position in Foran Mining Corp. (TSXV: FOM) which is developing the McIlvenna Bay Project in Saskatchewan, Canada. The McIlvenna Bay Project is billed as ‘Developing a significant and scalable resource into the world’s first carbon neutral copper mine.” At month end the new position was valued at $1.4 M USD, representing 0.1% of the total portfolio.
During the month of June 2022, the Fund liquidated its holding of Alexco Resource Corp. (TSX: AXU) contributing to a selloff resulting from the announcement of a proposed transaction with Hecla Mining Company (NYSE: HL).
Franklin Gold & Precious Metals Fund (USA)
At month end July 2022, the Fund’s largest holding was Endeavour Mining PLC (TSX: EDV). This holding was valued at $51.8 M USD representing 5.3% of the portfolio. The second largest holding was Barrick Gold Corp (TSX: ABX) valued at $47.2 M USD and representing 4.8% of the total portfolio.
During July 2022, Franklin Gold & Precious Metals Fund (USA) took a new position in recently listed company (listed July 2022) Bravo Mining Corp. (TSXV: BRVO). Bravo Mining is developing the 100% owned Luanga PGM +Ni + Cu +Au Project in Carajás Mineral Province, Brazil. The company’s market cap is ~$160M CAD. At month end the Fund’s position was valued at $3.7M USD representing 0.38% of the total portfolio.
The Fund has also initiated a new position in Australian junior gold producer Genesis Minerals Ltd. (ASX: GMD). Genesis Minerals has a market cap of ~$460 M AUD and at month end the holding was valued at $3.2 M USD representing 0.35% of the portfolio. Genesis Minerals is focused on merging with Dacian Gold, developing the 2M oz. Leonora Gold Project and consolidating regional gold potential in and around Leonora, West Australia.
During July 2022, the Fund also took a new position in Reunion Gold Corp. (CVD: RGD). Reunion Gold has a market cap ~$260M CAD and at month end the position was valued at $2.5M USD representing 0.25% of the portfolio. Reunion Gold is focused on discovery and development of gold deposits in the Guiana Shield and has gold exploration and development projects in Guyana, Suriname and French Guiana.
During the month of July 2022, the Fund liquidated positions in Australian listed Los Cerros Ltd. (ASX: LCL) and South African listed Royal Bafokeng Platinum Ltd. (JSE: RBP).
Franklin Gold and Precious Metals Fund (Lux)
Franklin Gold and Precious Metals Fund (Luxembourg) mirrors Franklin Gold and Precious Metals Fund (USA).
VanEck International Investors Gold Fund
Franco-Nevada Corp. (TSX: FNV) remained the Fund’s largest position valued at $81.2 M USD and representing 9.3% of the portfolio. The Fund did not acquire any new company names and did not fully liquidate any holdings during the month of July.
The Fund increased holdings in: B2Gold Corp. (TSX: BTO) and Predictive Discovery Limited (ASX: PDI).
The Fund reduced holdings in: Nighthawk Gold Corp. (TSX: NHK), Wallbridge Mining Co. Ltd. (TSX: WM), Rio2 Limited (CVE: RIO) and Perpetua Resources Corp. (TSX: PPTA).
VanEck VIP Global Gold Fund mirrors VanEck International Investors Fund.
A complete list of Precious Metal Managed Funds and their respective portfolio holdings can be found at:
https://mineralfunds.com/gold-funds/
Reported by: Khadijah Samnani, Analyst Supported By: Christopher Berlet BSc, CFA
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/134612
NovaSparks™, the leading field programmable gate array (FPGA) market data company, is pleased to announce the appointment of Clément Pelletier as the new sales and marketing director, based in Bangkok, Thailand. Pelletier will report to Dr. Luc Burgun, CEO and president, beginning on December 1st, 2023.
“Clément possesses a wealth of experience that makes him unique in the industry,” said Luc Burgun, NovaSparks’ chief executive officer and president. “His thorough understanding of the sales process, particularly in the field of trading tools which he acquired over 20 years in Asia, makes him ideally suited to drive our sales and marketing initiatives in APAC. We are pleased to welcome Clément and look forward to his leadership in expanding our operations in Asia.”
Pelletier brings to NovaSparks solid experience in sales and marketing in Asia. Most recently, he served as sales director for the APAC office of Horizon Software, a global leader in electronic trading solutions and algorithmic technology. Prior to Horizon Software, he served as CEO of CPIT, an IT services and consulting, specialized in the Fintech industry, based in Hong Kong. Pelletier holds a Master of Engineering from INSA Lyon.
Fintech
Broadridge Investment Management Technology Enhances Carlyle’s Private Credit and CLO Portfolio Management Operations
Global Fintech leader Broadridge Financial Solutions, Inc. (NYSE:BR) announced today that its cloud-based solution, Sentry, has been implemented at global investment firm Carlyle in support of its private credit and collateralized loan obligation (CLO) portfolio management. The Sentry private credit and CLO portfolio management technology will enable Carlyle to more efficiently manage its deal pipeline, trade compliance and loan operations on a single platform, and scale operations as the platform grows.
“With increased demand in credit products and ongoing growth of our product offerings, we wanted the right technology that would enable us to scale up and achieve a platform approach,” said Jim Keogh, Carlyle’s Managing Director and Head of Operations for Global Credit. “Sentry has smoothly integrated with our technology stack and provides functionality that will improve our capabilities as we grow.”
“Working closely with Carlyle, we customized Sentry to specifically suit their portfolio management requirements, which emphasized the need to help manage all aspects of private credit and CLO administration,” said Mike Sleightholme, Broadridge’s president of international and head of asset management solutions. “This implementation really showcases the value of the flexibility and scalability our solution offers and how it helps position firms for growth.”
Broadridge’s Sentry PM is a scalable web-based solution that provides front-to-back-office functionality to both the private debt and syndicated loan markets to increase overall efficiency, including research and pipeline management, pre- and post-trade compliance, analysis of hypothetical trade scenarios, dynamic waterfall projections, loan administration, and data aggregation across strategies, portfolios and assets.
Nuvei Corporation (“Nuvei” or the “Company”) (Nasdaq: NVEI) (TSX: NVEI), the Canadian fintech company, announces today that it has partnered with Microsoft to deliver leading payment experiences for customers of its products, solutions, and services across many of its key markets.
Microsoft will start using Nuvei’s customizable and agile payments technology in the Middle East and the Africa region, while benefiting from Nuvei’s deep knowledge of local markets to optimize its payments for recurring billing and individual transactions across both its Office and Xbox product ranges.
Other benefits of Nuvei’s global payments capabilities Microsoft is harnessing include optimized authorization rates through local acquisition and superior risk management that minimize false declines, as well as Nuvei’s ability to offer all of the relevant local alternative payment methods (APMs) to each market through a single integration. Philip Fayer, Nuvei Chair and CEO said: “Enabling Microsoft to connect to its customers across a wide range of products is testament to our technology and dedication to world-class customer service. We’re excited to optimize payments for such a universal brand that is trusted and relied upon by so many people.”
“We’re pleased to extend our payment solutions to the Middle East and African region,” added Ajith Thekadath, Vice President Global Payments at Microsoft. “Whether it is a one-off purchase, software subscription, or in-game purchasing, payments are critical to our overall customer experience. Partnering with Nuvei enables our customers to pay wherever they are and whenever they want to.”
Extending the partnership across geographies and use cases
Nuvei and Microsoft are committed to extending this partnership across additional markets, as well as exploring new use cases to enhance the overall Microsoft experience. This includes Microsoft Dynamics 365, its business applications technology suite that drives operational efficiency and improved enterprise resource management.
Fayer commented: “As two innovative, technology-led businesses that provide solutions to many of the leading international brands across the globe, it makes sense to explore how we can work more cooperatively as we grow our commercial relationship.”
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