Old Mutual launches gold and silver fund as prices climb

Gold bars 1As equity markets falter and risk appetites wane, the price of gold reached a 12-month high this month, with Old Mutual Global Investors (OMGI) planning to launch its Gold and Silver Fund in March. The fund aims to diversify its exposure by combining indirect exposure to gold and silver bullion, with additional equities of companies that mine for precious metals. It will be managed by Ned Naylor-Leyland, who joined OMGI from Quilter Cheviot last September. He will be supported by analyst Joe Lunn and investment administrator Amelia Brown, both of whom worked with Naylor-Leyland at Quilter Cheviot. “In times of market turmoil, monetary metals have consistently been turned to as a safe haven for investors,” said Naylor-Leyland. The firm says it will adjust the weighting of gold- and silver- related equity and equity-related securities, at various points throughout the market cycle, to create the optimal balance in the portfolio. Warren Tonkinson, managing director, OMGI, added: “As investors increasingly look for alternatives to diversify their portfolios, now is the perfect time to launch the Old Mutual Gold & Silver Fund.” ©2016 funds europe

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