Morningstar® Fund Report™|02/05/2025
Ninety One Global Gold Bond (USD-RMB)
Performance History 30/04/2025
Growth of 1,000(USD)
Fund -11.91 -11.70 8.89 8.27 44.48
+/-Cat 0.73 4.52 4.42 -3.66 -
+/-Idx -3.88 -1.99 1.48 -0.25 0.09
Category: Sector Equity Precious Metals
Index: Morningstar Global Gold NR USD
Trailing Returns 30/04/2025
Fund +/-Idx
YTD 44.48 0.09
3 Years 41.18 2.43
5 Years 52.65 3.94
10 Years 164.85 -13.93
12 Month Yield 0.00
Dividend Paying Frequency -
Key Stats
Morningstar Category
Sector Equity Precious Metals
Morningstar Rating™
ISIN
LU0345780281
NAV 30/04/2025
USD 29.6900
Day Change
0.37%
Total Net Assets (mil)
30/04/2025
USD  511.25
Front Load Fee
3.00%
Deferred Load Fee
-
Manager Name
George Cheveley
Inception Date
30/11/2007
Benchmark
Fund Benchmark
NYSE Arca Gold Miners TR USD
Morningstar® Benchmark
Morningstar Global Gold NR USD
Investment strategy
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.
Portfolio Profile 28/02/2025
Morningstar Style Box®_Morningstar:
Equity Style
Asset Allocation %
% Long % Short % Net Assets
Stocks 99.74 0.00 99.74
Bonds 0.01 0.00 0.01
Cash 0.65 0.40 0.25
Other 0.00 0.00 0.00
Top 5 Regions %
Canada 34.87
Australasia 29.09
Africa 16.33
United States 14.08
United Kingdom 5.62
Top 5 Sectors %
Basic Materials 99.74
Consumer Cyclical -
Financial Services -
Real Estate -
Consumer Defensive -
Top 5 Holdings Sector %
Northern Star Resources Ltd Basic Materials Basic Materials 8.43
Gold Fields Ltd Basic Materials Basic Materials 7.12
Evolution Mining Ltd Basic Materials Basic Materials 6.86
Newmont Corp Basic Materials Basic Materials 6.61
Anglogold Ashanti PLC Basic Materials Basic Materials 5.96
Return Charts
3 Months 6 Months 1 Year 3 Years 5 Years 10 Years
Index Currency
UPDATE
Fund: Ninety One Global Gold Bond (USD-RMB)
Index: Please select ...
Annual Returns 30/04/2025
2018 2019 2020 2021 2022 2023 2024 2025
Total Return -5.92 38.23 25.97 -11.91 -11.70 8.89 8.27 44.48
+/- Category 11.40 -2.10 -12.78 0.73 4.52 4.42 -3.66 -
+/- Index 3.81 -6.05 2.42 -3.88 -1.99 1.48 -0.25 0.09
% Rank (Rel to Cat) 7 57 71 49 37 30 73 15
Trailing Returns 30/04/2025
Total Return +/- Category +/- Index
1 Day 0.37 0.96 -0.35
1 Week -0.74 0.47 -0.55
1 Month 7.11 0.37 -0.30
3 Months 27.32 4.37 1.05
6 Months 22.53 4.98 -1.38
YTD 44.48 4.04 0.09
1 Year 51.25 6.52 2.60
3 Years 41.18 2.65 2.43
5 Years 52.65 -3.37 3.94
10 Years 164.85 7.88 -13.93
Quarterly Returns 30/04/2025
Quarter 1 Quarter 2 Quarter 3 Quarter 4
2025 34.89 - - -
2024 -0.16 4.64 19.77 -13.47
2023 12.34 -7.66 -9.90 16.51
2022 14.99 -28.99 -11.35 21.97
Dividend 30/04/2025
12 Month Yield 0.00
Morningstar Rating™ 31/03/2025
3-Year
5-Year
10-Year
Overall
Volatility Measurements 30/04/2025
3-Yr Volatility 33.31%   3-Yr Sharpe Ratio 0.37
3-Yr Mean Return 1.40%
Investment Style Details 28/02/2025
Morningstar Style Box®_Morningstar:
Equity Style
Size Rel to Cat
Average Mkt Cap (Mil) USD 6045.724 0.00
Market Capitalisation % Of Equity
Giant 0.00
Large 20.13
Medium 50.07
Small 29.00
Micro 0.55
Valuations and Growth Rates Equity Portfolio Relative to Category
Price/Prospective Earnings 11.41 0.00
Price/Book 1.82 0.00
Price/Sales 0.34 0.00
Price/Cash Flow 6.27 0.00
Dividend-Yield Factor 1.59 0.00
Long-Term Projected Earnings Growth 16.09 0.00
Historical Earnings Growth 2.44 0.00
Sales Growth 5.66 0.00
Cash-Flow Growth 20.17 0.00
Book-Value Growth 3.75 0.00
AssetAllocation 28/02/2025
Asset Allocation
% Long % Short % Net Assets
Stocks 99.74 0.00 99.74
Bonds 0.01 0.00 0.01
Cash 0.65 0.40 0.25
Other 0.00 0.00 0.00
World Regions 28/02/2025
% Of Equity Relative to Category
United States 14.08 0.00
Canada 34.87 0.00
Latin America 0.00 0.00
United Kingdom 5.62 0.00
Eurozone 0.00 0.00
Europe - ex Euro 0.00 0.00
Europe - Emerging 0.00 0.00
Africa 16.33 0.00
Middle East 0.00 0.00
Japan 0.00 0.00
Australasia 29.09 0.00
Asia - Developed 0.00 0.00
Asia - Emerging 0.00 0.00
Emerging Market 16.33 0.00
Developed Country 83.67 0.00
Not Classified 0.00 0.00
Stock Sector Weightings 28/02/2025
% Of Equity Relative to Category
CyclicalCyclical 99.74 -
Basic MaterialsBasic Materials 99.74 -
Consumer CyclicalConsumer Cyclical - -
Financial ServicesFinancial Services - -
Real EstateReal Estate - -
Sensitive - -
Communication ServicesCommunication Services - -
EnergyEnergy - -
IndustrialsIndustrials - -
TechnologyTechnology - -
DefensiveDefensive - -
Consumer DefensiveConsumer Defensive - -
HealthcareHealthcare - -
UtilitiesUtilities - -
Top 10 Holdings 28/02/2025
Portfolio
Total Number of Equity Holdings 28
Total Number of Bond Holdings 0
Assets in Top 10 Holdings % 58.37
Product Name Sector Country/Region % of Assets
Northern Star Resources Ltd Basic Materials Basic Materials Australia 8.43
Gold Fields Ltd Basic Materials Basic Materials South Africa 7.12
Evolution Mining Ltd Basic Materials Basic Materials Australia 6.86
Newmont Corp Basic Materials Basic Materials United States 6.61
Anglogold Ashanti PLC Basic Materials Basic Materials South Africa 5.96
Alamos Gold Inc Class A Basic Materials Basic Materials Canada 4.96
Pan American Silver Corp Basic Materials Basic Materials Canada 4.67
Endeavour Mining PLC Basic Materials Basic Materials United Kingdom 4.62
Agnico Eagle Mines Ltd Basic Materials Basic Materials Canada 4.58
Dundee Precious Metals Inc Basic Materials Basic Materials Canada 4.55
Management Team
CompanyName Ninety One Luxembourg S.A.
Phone +352 28 12 77 20
Website www.ninetyone.com
Address 2-4 Avenue Marie-Thérèse, Luxembourg, L-2132



 
Domicile LUX
Legal Structure SICAV
UCITS Yes
Inception Date 30/11/2007
Fund Advisor(s)
Ninety One UK Limited
Fund Manager   George Cheveley
Manager Start Date   01/04/2015
Education  
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)
Front Load Fee 3.00%
Deferred Load Fee -
Switching Fee 1.00%
Annual Charge
Management (Max) 1.50%

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