6/24/2023 0 Comments Morningstar investment newslettersIt also received a four-star rating overall as of December 30, 2022, among 68 Equity Precious Metals funds, and a four-star rating for the five-year period, among 61 Equity Precious Metals funds. ) received a five-star rating from Morningstar for the 10-year period as of December 30, 2022, among 55 of its peers in the Equity Precious Metals category, based on risk-adjusted returns. The Company is also excited to share that its Gold and Precious Metals Fund ( ), GOAU is a smart-beta ETF that rebalances and reconstitutes on a quarterly basis.” Like our other two ETFs, JETS and the U.S. “GOAU is doing precisely what we designed it to do, namely, provide investors access to high-quality, currently active gold and precious metal producers with a strong, overweight emphasis on royalty and streaming companies, which we consider to be the ‘smart money’ of the meals and mining industry. ) relative to its peers in 2022 and since we launched it in June 2017,” Mr. Global GO GOLD and Precious Metal Miners ETF ( “We’re very pleased with the performance of our U.S. Western investors gobbled up 427 tons (approximately 15 million ounces), the most since 2011. and Europe hit a new annual record last year in response to stubbornly high inflation and the war in Ukraine. Meanwhile, retail demand for bars and coins in the U.S. China began accumulating again in 2022 for the first time in three years, continuing its goal of diversifying away from the U.S. Central banks were responsible for much of the growth, adding a massive 1,136 metric tons, the largest annual amount on record. Total global demand for gold expanded 18% year-over-year in 2022, reaching its highest level since 2011, according to the World Gold Council (WGC). Gold was one of the best-performing assets in 2022, down a negligible 0.28%, compared to a loss of 18.13% for the S&P 500 and a decrease of 13.01% for government and corporate bonds. Both its fashion and leather goods business and wines and spirits business reached record levels of revenue and earnings in 2022.” The Paris-based company recorded a profit of 21.1 billion euros ($22.8 billion), a 23% increase from 2021. I was especially pleased to see that LVMH, the world’s largest luxury conglomerate, posted an incredibly strong 2022, despite the economic headwinds. In the years preceding the pandemic, Chinese travelers were historically the biggest spenders on luxury goods on a per-capita basis. ), the only luxury-focused mutual fund available to U.S. “I believe China’s reopening will also be constructive for our Global Luxury Goods Fund ( In the fourth quarter of 2022, shares of Asian airlines, as measured by the Bloomberg Asia Pacific Airlines Index, rose 17.51%, compared to the NYSE Arca Airline Index, which fell 8.60%, mostly on winter weather-related delays and groundings in the U.S. “China finally relaxed its zero-Covid travel policy after three long years, which I believe is bullish for our U.S. economy continues to expand at a healthy clip,” Mr. “The good news is that Inflation is abating, and the U.S. In December alone, outflows were $86 billion.”Ĭhina Finally Opened Its Economy, Lifting Asian Airlines and Luxury Sales U.S.-based mutual funds and ETFs saw collective net outflows of $370 billion in 2022, the first annual loss since Morningstar began tracking this data in 1993. “Investors appeared to minimize risk on fears that persistently high inflation and interest rate hikes might trigger a recession. “2022 was a particularly challenging year for capital markets, with a historic drop in both stocks and bonds, and against this backdrop, I’m pleased that we managed to generate positive income in the second quarter of fiscal 2023,” says Frank Holmes, the Company’s CEO and Chief Investment Officer. The Company was delayed in submitting its financial results for the quarter ending December 31, 2022, but with the December 2022 quarter results now filed, the Company is focusing on preparing and submitting the financial statements for the quarter that concluded on March 31, 2023. Total AUM at December 31, 2022, was $2.4 billion, an increase of approximately $112 million from the previous quarter. The Company recorded net income of $869,000, or $0.06 per share.Īverage assets under management (AUM) for the three-month period ended December 31, 2022, were $2.5 billion. ) (the “Company”), a registered investment advisory firm with longstanding experience in global markets and specialized sectors from gold mining to emerging markets, today reported operating income of $908,000 for the quarter ended December 31, 2022, on total revenues of $3.7 million.
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