Gold Fund Holdings Update - September 2022 and Attribution Analysis

Toronto, Ontario--(Newsfile Corp. - October 14, 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/portfolio-holdings-update-september-2022

Gold & Precious Metal Funds included in this report:

A portfolio holding 'attribution analysis' is undertaken on the portfolios of gold funds that report asset allocations monthly, and on any fund with assets in excess of $1 Billion USD reporting during the period.

The analysis includes a list of companies which are new to a portfolio in the period 'New Company Holdings', and companies which have been eliminated from a portfolio during the period 'Companies Divested'. 'Increasing Shareholding' and 'Decreasing Shareholding' fields identify companies to which a fund is either increasing or, alternatively, decreasing exposure.

FUNDS REPORTING MONTHLY

Fidelity Select Gold Fund

FUNDS REPORTING MONTHLY ATTRIBUTION ANALYSIS

AUM in all monthly reporting gold funds decreased through July and August respectively.

Fidelity Select Gold Fund
AUM for Fidelity Gold Fund decreased in July from $1,380 M USD to $1,325 M USD (-4.0%).

A significant decrease in value for the Fund's largest holding Newmont Corporation (NYSE: NEM) (-26.5% on the month) which began the month $61.17 USD and closed the month at $44.94 USD contributed to a relative decrease in the largest holding from 15.0% to 12.4%. The Fund did not take on any new names and did not complete full liquidation of any existing positions during the month.

Franklin Gold & Precious Metals Fund (USA)
AUM for Franklin Gold and Precious Metals Fund (USA) decreased in August from $986 M USD to $903 M USD (-8.4%).

The Fund took up a new position in Moneta Gold Inc. (TSX: ME). During the month Moneta Gold reported high-grade intercepts at the Tower Gold Project near Timmins, Ontario. Subsequent to month end Moneta reported a positive PEA and an updated NI 43-101 report for the Tower Gold Project in Ontario. The Fund increased positioning in junior producer Orla Mining Ltd. (TSX: OLA) which closed on the acquisition of Gold Standard Ventures Corp. (NYSE: GSV) on August 12^th. The Fund also increased positioning in Osisko Group company O3 Mining Inc. (TSXV: OIII).

The Fund reduced holdings in: Eastern Platinum Ltd. (TSX: ELR), Gascoyne Resources Ltd. (ASX: GYC) and Perseus Mining Ltd. (TSX: PRU). On September 23^rd, subsequent to month end, Eastern Platinum Ltd. announced a financing facility with Investec Bank Ltd.

Franklin Gold and Precious Metals Fund (Lux) increased exposure to Integra Resources Corp. (CVE: ITR) which closed an oversubscribed financing on August 4^th, 2022, and which continues to advance permitting for the DeLamar Gold-Silver Project. The Luxembourg based Fund also increased exposure to Australian listed Matador Mining Ltd. (ASX: MZZ) which is exploring for high-grade gold in the jurisdiction of Newfoundland, Canada.

VanEck International Investors Gold Fund
AUM for VanEck International Investors Gold Fund decreased in August from $687 M USD to $611 M USD (-11.1%).

The Fund did not add any new holdings and did not increase positioning in any holdings. The Fund continued to reduce holdings of Nighthawk Gold Corp. (TSX: NHK) and Wallbridge Mining Co. Ltd. (TSX: WM), and also began reducing its holdings of BonTerra Resources Inc. (CVE: BTR) and Perpetua Resources Corp. (TSX: PPTA).

VanEck VIP Global Gold Fund
AUM for VanEck VIP Global Gold Fund decreased in August from $44 M USD to $39 M USD (-11.4%).

The Fund did not add any new positions or increase positioning in any gold company names. The Fund reduced positioning in 21 of 51 holdings. 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/140595

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