Morningstar Fund Report  | 14/04/2025Print

Ninety One Global Strategy Fund - Global Gold Fund A Acc USD

Performance History31/03/2025
Growth of 1,000 (GBP) Advanced Graph
Ninety One Global Strategy Fund - Global Gold Fund A Acc USD
Fund-11.1-0.62.810.230.9
+/-Cat0.75.14.2-3.74.5
+/-B’mrk-3.9-2.21.4-0.30.4
 
Category: Sector Equity Precious Metals
Category Benchmark: Morningstar Gbl Gold NR USD
Key Stats
NAV
11/04/2025		 USD 30.25
Day Change 5.54%
Morningstar Category™ Sector Equity Precious Metals
ISIN LU0345780281
Fund Size (Mil)
11/04/2025		 USD 515.22
Share Class Size (Mil)
11/04/2025		 USD 191.95
Max Initial Charge 5.00%
Ongoing Charge
28/03/2025		  1.90%
Investment Objective: Ninety One Global Strategy Fund - Global Gold Fund A Acc USD
The Sub-Fund aims to achieve long-term capital growth primarily through investment in equities issued by companies around the globe involved in gold mining. The Sub-Fund may also invest, up to one-third, in companies around the globe that are involved in mining for other precious metals and other minerals and metals.
Returns
Trailing Returns (GBP)11/04/2025
YTD41.19
3 Years Annualised9.23
5 Years Annualised10.99
10 Years Annualised12.01
12 Month Yield 0.00
Management
Manager Name
Start Date
George Cheveley
01/04/2015
Inception Date
30/11/2007

Category Benchmark
Fund BenchmarkMorningstar Benchmark
NYSE Arca Gold Miners TR USDMorningstar Gbl Gold NR USD
Portfolio Profile for  Ninety One Global Strategy Fund - Global Gold Fund A Acc USD28/02/2025
Morningstar Style Box®
Equity Style
Asset Allocation
  % Long% Short% Net Assets
Stock99.740.0099.74
Bond0.010.000.01
Property0.000.000.00
Cash0.650.400.25
Other0.000.000.00
Top 5 Regions%
Canada34.87
Australasia29.09
Africa16.33
United States14.08
United Kingdom5.62
Top 5 Sectors%
Basic Materials100.00
Top 5 HoldingsSector%
Northern Star Resources LtdBasic MaterialsBasic Materials8.43
Gold Fields LtdBasic MaterialsBasic Materials7.12
Evolution Mining LtdBasic MaterialsBasic Materials6.86
Newmont CorpBasic MaterialsBasic Materials6.61
Anglogold Ashanti PLCBasic MaterialsBasic Materials5.96
Increase Decrease New since last portfolio
Ninety One Global Strategy Fund - Global Gold Fund A Acc USD
Growth Of 1000 (GBP) 31/03/2025
Fund:  Ninety One Global Strategy Fund - Global Gold Fund A Acc USD
Category:  Sector Equity Precious Metals
Category Index:  Morningstar Gbl Gold NR USD
Growth of 1,000 GBP
Annual Returns (GBP)31/03/2025
 201820192020202120222023202431/03
Price Return-0.0732.8922.08-11.10-0.582.7510.2130.88
+/- Category12.10-2.01-12.380.735.094.17-3.724.50
+/- Category Index4.05-5.812.34-3.92-2.241.39-0.250.45
% Rank in Category757714937307324
Trailing Returns (GBP)11/04/2025
   Total Returns   +/- Category   +/- Category Index
1 Day5.54   1.570.41
1 Week18.86   12.192.55
1 Month20.99   6.952.33
3 Months30.98   11.732.05
6 Months27.32   9.290.95
YTD41.19   11.621.07
1 Year41.34   8.63-0.08
3 Years Annualised9.23   4.101.30
5 Years Annualised10.99   -0.930.61
10 Years Annualised12.01   0.95-0.72
 
Category: Sector Equity Precious Metals
Category Index: Morningstar Gbl Gold NR USD
Quarterly Returns (GBP)31/03/2025
 Quarter 1Quarter 2Quarter 3Quarter 4
202530.88---
20240.754.5712.87-7.33
20239.29-10.20-6.1511.56
202218.30-23.01-3.5613.19
2021-15.874.23-8.6911.02
2020-15.2060.982.07-12.38
 
 
 
Morningstar Rating™(Relative to Category)31/03/2025
 Morningstar ReturnMorningstar RiskMorningstar Rating™
3-YearAverageAverage3 star
5-YearAverageAverage3 star
10-YearAverageAverage3 star
Overall*AverageAverage3 star
 
Category :  Sector Equity Precious MetalsClick here to see our Methodology
Volatility Measurements31/03/2025
 
3-Yr Std Dev29.18 %
3-Yr Mean Return11.97 %
 
3-Yr Sharpe Ratio0.25
 
Modern Portfolio Statistics31/03/202531/03/2025
 Standard IndexBest Fit Index
 Morningstar Gbl Gold NR USD  Morningstar Gbl Gold NR USD
3-Yr Beta1.051.05
3-Yr Alpha1.121.12
 
Investment Style Details28/02/2025
Morningstar Style Box®
Equity Style
SizeRel to Cat
Average Mkt Cap (Mil)USD 6046-
Market Capitalisation% of Equity
Giant0.00
Large20.18
Medium50.20
Small29.07
Micro0.55
Valuations and Growth RatesEquity PortfolioRelative to Category
Price/Prospective Earnings11.410.97
Price/Book1.821.06
Price/Sales2.651.09
Price/Cash Flow6.270.97
Dividend-Yield Factor1.591.18
 
Long-Term Projected Earnings Growth16.090.54
Historical Earnings Growth2.44-0.59
Sales Growth5.660.92
Cash-Flow Growth20.170.88
Book-Value Growth3.750.54
 
Category: Sector Equity Precious Metals
Asset Allocation28/02/2025
Asset Allocation
 % Long% Short% Net Assets
Stock99.740.0099.74
Bond0.010.000.01
Property0.000.000.00
Cash0.650.400.25
Other0.000.000.00
World Regions28/02/2025
 % of EquityRelative to Category
United States14.081.46
Canada34.870.57
Latin America0.000.00
United Kingdom5.621.26
Eurozone0.000.00
Europe - ex Euro0.000.00
Europe - Emerging0.000.00
Africa16.332.00
Middle East0.00-
Japan0.000.00
Australasia29.091.99
Asia - Developed0.000.00
Asia - Emerging0.000.00
 
Category: Sector Equity Precious Metals
Sector Weightings28/02/2025
 % of EquityRelative to Category
Basic MaterialsBasic Materials100.001.00
 
Category: Sector Equity Precious Metals
Top 10 Holdings28/02/2025
 Portfolio NEW
Total Number of Equity Holdings28
Total Number of Bond Holdings0
Assets in Top 10 Holdings58.37
NameSectorCountry% of Assets
Northern Star Resources Ltd101Australia8.43
Gold Fields Ltd101South Africa7.12
Evolution Mining Ltd101Australia6.86
Newmont Corp101United States6.61
Anglogold Ashanti PLC101South Africa5.96
Alamos Gold Inc Class A101Canada4.96
Pan American Silver Corp101Canada4.67
Endeavour Mining PLC101United Kingdom4.62
Agnico Eagle Mines Ltd101Canada4.58
Dundee Precious Metals Inc101Canada4.55
 
Increase Decrease New since last portfolio
Category: Sector Equity Precious Metals
 
Management
Name of CompanyNinety One Luxembourg S.A.
Phone+352 28 12 77 20
Websitewww.ninetyone.com
Address2-4 Avenue Marie-Thérèse, Luxembourg, L-2132
 Luxembourg   L-2132
 Luxembourg
DomicileLuxembourg
Legal StructureSICAV
UCITSYes
Inception Date30/11/2007
Fund Advisor(s)
Ninety One UK Limited
Fund ManagerGeorge Cheveley
Manager Start Date01/04/2015
 
Biography
George is a portfolio manager and metals and mining specialist in the Natural Resources team. George is a portfolio manager for the Global Gold strategy and co-portfolio manager for the Natural Resources strategy. He covers all aspects of metals and mining supply and demand including, most recently, the impact of renewable energy and electric vehicles on metals demand. Prior to joining the firm, George was a market analyst for three years at BHP Billiton, working in The Hague and Singapore. He was recruited to BHP Billiton in 2004 from CRU (Commodities Research Unit), an independent metals/chemicals related research company based in London. At CRU, he spent three years in the Carbon Steel team and five years as a Research Manager – Copper, providing in-depth research and forecasts to the industry, banks and hedge funds. George began his career in 1990 in operations at British Steel Strip Products, working for three years in the Tinplate division. George graduated from the University of Oxford in 1989 with an honours degree in Classics and in 1995 was awarded a Master of Business Administration from Warwick University.
Fees and Expenses
Sales Charges (Maximum) 
Max Initial Charge5.00%
Max Exit Charge*n/a
Annual Charges
Max Annual Management Charge1.50%
Ongoing Charge1.90%
Purchase Details
Minimum Investments
Initial3000  USD
Additional750  USD
Savings-
Tax Free Savings Schemes
ISAsYes