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Top 5 Precious Metals Mutual Funds
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ShareWith gold trading at well above $1,800 per ounce, this is as good a time as any to invest in the yellow metal. The fact that prices are touching new highs comes as no surprise with fears of a recession looming large on the domestic front and lingering concerns over Europe’s economic health. This is prompting investors to seek refuge in gold which also provides protection from rising prices. Mutual funds focusing on precious metals provide the most convenient method for investing in these commodities.
Below we will share with you 5 top rated precious metals mutual funds. Each has earned a Zacks #1 Rank (Strong Buy) as we expect the fund to outperform its peers in the future. To view the Zacks Rank and past performance of all precious metals funds, then click here.
First Eagle Gold A (SGGDX) invests the majority of its assets in gold and related securities or in instruments issued by companies whose principal operations are related to the yellow metal. Not more than 20% of its assets may be utilized to purchase securities from other sectors. This precious metals fund returned 15.62% in the last one year period.
The precious metals mutual fund has a minimum initial investment of $2,500 and an expense ratio of 1.22% compared to a category average of 1.41%.
OCM Gold (OCMGX) seeks capital appreciation. The fund invests in domestic and foreign companies in the gold mining industry. It focuses on purchasing common stocks and may also invest in precious metals producers. The precious metals fund has a five year annualized return of 13.14%.
As of July 2011, this precious metals mutual fund held 56 issues, with 12.76% of its total assets invested in Goldcorp, Inc.
U.S. Global Investors Gold and Precious Metals (USERX) invests a large proportion of its assets in companies whose primary operations are related to gold and other precious metals. The fund focuses on acquiring equity and related securities. The precious metals mutual fund has a ten year annualized return of 24.48%.
Frank E. Holmes is the fund manager and he has managed this precious metals mutual fund since 1999.
GAMCO Gold AAA (GOLDX) seeks capital growth over the long term. At least 80% of the fund’s assets are invested in domestic and foreign companies which engage in gold-related activities. A substantial portion of its assets are utilized to purchase foreign securities The precious metals fund has a three year annualized return of 5.35%.
The precious metals fund has a minimum initial investment of $1,000 and an expense ratio of 1.44% compared to a category average of 1.41%.
Fidelity Select Gold (FSAGX) invests the majority of its assets in companies whose principal operations are related to gold, and in gold bullion and coins. Up to 25% of the fund’s assets may be invested in gold and other precious metals through a wholly-owned subsidiary. It is non-diversified and a no load fund.
This precious metals mutual fund returned 11.42% in the last one year period.
To view the Zacks Rank and past performance of all precious metals mutual funds, then click here.
About Zacks Mutual Fund Rank
By applying the Zacks Rank to mutual funds, investors can find funds that not only outpaced the market in the past but are also expected to outperform going forward. Learn more about the Zacks Mutual Fund Rank at http://www.zacks.com/funds.
Read the full analyst report on SGGDX
Read the full analyst report on OCMGX
Read the full analyst report on USERX
Read the full analyst report on GOLDX
Read the full analyst report on FSAGX
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| Market Summary | May 26, 2012 13:59 pm ET |
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