Having a tough year? Spare a thought for Ani Markova and Robert Lyon, managers of the Smith & Williamson Global Gold & Resources Fund. Its price has dropped 33% so far this year and 13% last year. Gold mining is out of favour and it has broad exposure to around 120 stocks of all sizes, and 60% in mid- and small-cap names. Two-thirds are gold miners, with the remainder precious metals and minerals miners.
The fund's skew towards smaller firms means it was hit dramatically when the gold price tanked. Its second-largest holding is Tahoe Resources, a Canadian junior miner worth C$2bn. But this gives the fund a distinct profile, says Markova.
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| Central Fund of Canada Cls A | 5.1% |
| Tahoe Resources Inc | 4.7% |
| Goldcorp Inc | 4.3% |
| Argonaut Gold Inc | 3.8% |
| B2Gold Corp | 3.4% |
| Regis Resources Ltd | 3.0% |
| Silver Wheaton Corp | 3.0% |
| Agnico Eagle Mines | 2.9% |
| Randgold Resources | 2.8% |
| Eldorado Gold Corp | 2.7% |
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‘Inheritance tax insurance’ enquiries are soaring – but is it worth it?Premiums for whole of life insurance can run to £5,000 a month to cover a £300,000 inheritance tax bill, with policies costing more the older you take them out.
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MPs warn over Lifetime ISAs which could leave savers out of pocketThe Treasury Committee has highlighted confusion around the Lifetime ISA withdrawal charge, which risks consumers losing “a significant part of their savings”
