BAKERSTEEL Electrum Fund I Class Factsheet January 2022

Electrum Fund Factsheet

The Electrum Fund fell -3.8% during the month (I2 EUR), compared with the EMIX Global Mining Index which rose +1.9% (in Euro terms).

 

A volatile start to the year saw the Fund’s performance diverge somewhat from its Index during the month, as rising iron ore prices boosted bulk commodity producers relative to speciality metals miners. The EV sector exhibited weakness during the month and, while lithium exposure in particular had already been reduced in the portfolio, this sub-sector dragged on fund performance.

 

The move towards decarbonisation will transform the metals and mining industry in the years ahead, and Electrum’s strategy remains positioned to offer exposure to the bull market we believe is just beginning for speciality metals. Our investment approach continues to be value-driven and focused on those companies with the best assets, effective management, attractive shareholder returns and that operate in an ethical and sustainable manner in line with our own ESG principles.

 

You can read more about our views on the opportunities in speciality metals equities and the new green commodity supercycle here.

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