With gold having been one of 2016’s most popular defensive strategies against persisting low returns and the struggle for income, Legal & General Investment Management’s multi-index fund range manager Justin Onuekwusi outlines four alternatives to gold for the post-Brexit world.
Tilney Bestinvest’s Gareth Lewis advocates a cautious approach in the wake of Brexit and the continuing low interest rates and quantitative easing climate, with investment in gold proving a successful option.
George Cheveley, manager of the Investec Global Gold Fund, details his structured, two-pronged approach, while Ani Markova, head of the Smith & Williamson Global Gold Fund, describes her fund’s long-term strategy. Chelsea Financial Services’ managing director Darius McDermott offers a neutral viewpoint.
Controversial former US baseball star Jose Canseco has developed something of a cult following after several of his contrarian market predictions have come true.
The first half of 2016 was the first time investment has been the largest component of gold demand for two consecutive quarters. Should this leave gold bugs feeling vindicated or afraid?
Net fund flows into global gold ETFs in the first half this year have already surpassed the same period of 2009 during the financial crisis, as Brexit has created more uncertainties in the global economic outlook.
While gold funds were the out and out winners of the first half of the year, the worst performers were much more of a mixed bag.
Asset management giant Schroders has launched the Schroder ISF Global Gold Fund, its first gold equities offering.
Pictet Asset Management is overweight gold as concerns grow over political risks and the US dollar, said chief strategist Luca Paolini.
UK savers buying gold through their self-invested personal pension schemes (Sipps) has increased by nearly a half (44%) compared to the same time last year, latest figures show.
The UK’s Royal Mint has opened its doors for the first time to savers looking to buy gold bars as part of their pension plan, though one brokerage firm has revealed that a British pensioner preferred to bury £850,000 ($1.2m, €1.09m) worth of gold in his back garden.
What a difference a year makes. In the first quarter of 2015, the top 10 funds were a mixture of Japanese equities, Russian equities, and biotechnology funds, with a frontier markets fund rounding things out.
