Sprott Gold Equity Fund starstarstarstar

As of 3/16/2020, the Investor Class was rated against the Equity Precious Metals Funds category over the following time periods: 3 stars out of 60 funds over 3 years, 3 stars out of 58 funds over 5 years, and 4 stars out of 46 funds over 10 years.

Fund Overview

As of 4/1/2020
SGDLX
NAV
$32.37
NAV Change
$0.39 (1.22%)
Fund Objective & Strategy

Sprott Gold Equity Fund’s* investment objective is long-term capital appreciation. The Fund seeks to achieve its investment objective by investing at least 80% of its net assets, plus borrowings for investment purposes, in gold and other precious metals and securities of companies located throughout the world that are engaged in mining or processing gold. The Fund follows a value approach to investing and the Portfolio Manager will identify companies that are undervalued based on his judgment of relative value and growth potential.

*Effective January 17, 2020, both classes of the Tocqueville Gold Fund (TGLDX and TGLIX) have been successfully reorganized into classes of the Sprott Gold Equity Fund (SGDLX and SGDIX). The Fund began trading officially on Tuesday, January 21, 2020, at 9:30 a.m. ET.  

Visit Information for Fund Shareholders to Learn More

Videos
John Hathaway
Why Gold

John Hathaway explores why investing in gold makes sense for most investors and how it helps protect portfolios.
Watch Now

Doug Groh
Why Gold Equities

Doug Groh looks at how gold mining equities have been revitalized by improved managements and M&A.
Watch Now

Whitney George
Sprott Overview

Whitney George discusses the depth of resources at Sprott, a leader in precious metals investing.
Watch Now

Fund Details As of 12/31/2019
SGDLX
Investor Class A
CUSIP 85208P105
Inception Date 6/29/1998
Total Fund Assets $1.0 Billion
Minimum Investment $1,000 ($250 IRA)
Total Annual Fund Operating Expenses 1.47%

Expenses are per the Fund's most recent prospectus, based on the fiscal year ending 10/31/19.

SGDIX
Institutional Class I
CUSIP 85208P204
Inception Date 4/8/2019
Total Fund Assets $81.5 Million
Minimum Investment $1 Million
Total Annual Fund Operating Expenses 1.28%
Investor Class A &
Institutional Class I
Manager Tenure John Hathaway 22 Years, Doug Groh 9 Years
Dividend Policy (Distributions History) Annual
Redemption Fee 2.00% first 90 days*
Sales Charge None
Transfer Agent U.S. Bank Global Fund Services
*The Fund’s performance does not reflect the redemption fee. If deducted, the fee would reduce the performance quoted.

Performance

Month-End Performance
Average Annual Total Returns (%) As of 2/29/2020
Fund 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR 15 YR 20 YR SI3
Sprott Gold Equity Fund (SGDLX) -10.21 -2.60 -11.87 10.62 -0.31 1.70 -3.63 3.35 8.60 8.77
Sprott Gold Equity Fund (SGDIX) -10.21 -2.57 - - - - - - - 0.00
PHLX Gold/Silver Sector Index (XAU)1 -9.36 -1.25 -11.85 25.20 4.49 4.92 -4.13 0.78 3.56 2.76
S&P 500 Total Return Index2 -8.23 -5.50 -8.27 8.19 9.87 9.23 12.65 8.40 5.97 6.50

*Returns for periods less than one year are not annualized.

Quarter-End Performance
Average Annual Total Returns (%) As of 12/31/2019
Fund 1 MO* 3 MO* YTD* 1 YR 3 YR 5 YR 10 YR 15 YR 20 YR SI3
Sprott Gold Equity Fund (SGDLX) 10.52 11.38 35.24 35.24 7.20 5.37 -2.57 4.39 8.88 9.48
Sprott Gold Equity Fund (SGDIX) 10.52 11.44 - - - - - - - 0.00
PHLX Gold/Silver Sector Index (XAU)1 11.93 21.11 52.76 52.76 11.58 10.10 -3.33 1.61 3.57 3.17
S&P 500 Total Return Index2 3.02 9.07 31.49 31.49 15.27 11.70 13.56 9.00 6.06 7.00

*Returns for periods less than one year are not annualized.

Performance data quoted represents past performance and does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The performance assumes reinvestment of capital gains and dividends. Returns for periods less than one year are not annualized. The Fund’s performance does not reflect the redemption fee of 2.00% for the first 90 days. If deducted, the fee would reduce the performance quoted. Fund performance current to the most recent month-end may be lower or higher than the performance quoted and can be obtained by calling 888.622.1813. 

1 The Philadelphia Stock Exchange Gold/Silver Index is a good indicator of the performance of the common stock of companies in the gold and silver mining industry. It does not incur fees and expenses. You cannot invest directly in an index
2 The S&P 500 Total Return Index is a market-value weighted index consisting of 500 stocks chosen for market size, liquidity, and industry group representation. You cannot invest directly in an index.
3 Since Inception (SI) date for Investor Class A is 6/29/1998; Since Inception (SI) date for Institutional Class I is 4/8/2019.
Growth of $10,000 Since Inception
For the period 12/31/2019. This graph represents the growth of a hypothetical investment of $10,000 invested in Investor Class A shares. It assumes reinvestment of dividends and capital gains, and does not reflect redemption fees or the effects of taxes on any capital gains and/or distributions. Based on Investor Class A shares.
Note: click and drag on the graph to view detailed Net Asset Value and Share Price data. Click on the "Reset Zoom" button to return to the full timeline view.
Calendar Year Total Returns (%)
1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Sprott Gold Equity Fund (SGDLX) 21.72 -10.70 21.90 82.88 53.65 -5.83 30.03 39.24 12.41 -34.93 86.59 53.34 -15.85 -8.72 -48.26 -2.67 -24.89 40.42 8.91 -16.37 35.25
PHLX Gold/Silver Sector Index (XAU) 6.52 -22.54 7.55 43.36 43.96 -7.70 30.56 12.50 22.91 -27.74 36.63 35.92 -19.16 -6.72 -48.01 -17.29 -33.42 74.93 8.78 -16.41 52.76
S&P 500 Total Return Index 21.04 -9.10 -11.89 -22.10 28.68 10.88 4.91 15.79 5.49 -37.00 26.46 15.06 2.11 16.00 32.39 13.69 1.38 11.96 21.83 -4.38 31.49
Fund Expense Ratios
As of 12/31/2019
SGDLX Investor Class A
Management Fee 0.88%
Distribution and Service (12b-1) Fee 0.25% 
Other Expenses  0.34%
Total Annual Fund Operating Expenses  1.47%
SGDIX Institutional Class I
Management Fee 0.88%
Distribution and Service (12b-1) Fee N/A 
Other Expenses 0.40%
Total Annual Fund Operating Expenses 1.28%

Expenses are per the Fund's most recent prospectus, based on the fiscal year ending 10/31/19.


Portfolio Analytics
As of 12/31/2019

Top 10 Positions (% of net assets)
Physical Gold 15.35
Detour Gold Corp. 7.97
Pan American Silver Corp. 5.17
Franco-Nevada Corp. 5.09
MAG Silver Corp. 4.77
Wheaton Precious Metals Corp. 3.93
Torex Gold Resources Inc. 3.58
Corvus Gold Inc. 3.36
AngloGold Ashanti Limited 3.18
B2Gold Corp. 3.09
Top 10 Total 55.49
Holdings may vary, and this list is not a recommendation to buy or sell any security.
Asset Allocation (% of net assets)
Equities: Country Weightings* (%)
Portfolio Diagnostics
Total Number of Equity Holdings 58
Turnover Ratio 9%
Weighted Median Market Capitalization $1.0 Billion
Weighted Avg. Market Capitalization $5.4 Billion
Equities: Industry Allocation* (%)
Gold Related 76.23
Silver Related 13.87
Other Precious Metals 4.34
Diversified Metals & Mining 3.58
Other 1.97
Total 100.00
Equities: Stage of Development* (%)
Senior Producers (>$8 Billion) 19.28
Mid-Tier Producers/Advanced Developers ($2-$8 Billion) 29.22
Small Producers/Developers ($0.5-$2 Billion) 21.48
Early Developers/Exploration (<$0.5 Billion) 12.70
Other 17.32
Total 100.00
5-Year Risk Measures & Statistics
Volatility (Standard Deviation) 30.15
Sharpe Ratio 0.14
Alpha vs. PHLX Gold/Silver Sector Index (XAU) -0.25
Beta vs. PHLX Gold/Silver Sector Index (XAU) 0.75

Source: FactSet.

*Allocations exclude cash and cash equivalents and are subject to change.

Volatility is the annualized standard deviation of monthly returns. Sharpe ratio is the return less the risk-free rate divided by the standard deviation and measures risk-adjusted return. Alpha is a measure of the difference between a portfolio’s actual returns and its expected performance, given its level of risk as measured by beta. Beta is a measure of sensitivity to market movements. R-squared reflects the percentage of a fund’s movements that can be explained by movements in its benchmark index.


Investment Team

 

John  Hathaway
John Hathaway
Senior Portfolio Manager
50 Years of Investment Experience
Douglas Groh
Douglas Groh
Senior Portfolio Manager
34 Years of Investment Experience

John Hathaway and Doug Groh are members of the Sprott Gold Team which offers world-class expertise in the active management of precious metals equities.

Unparalleled in scope and breadth, the Team includes portfolio managers, geologists, analysts and traders who together boast more than 350 years of combined precious metals investment experience. Learn more about the Sprott Gold Team


Commentary

10/25/2019
RealVision Interview with John Hathaway

In its Gold vs. Bitcoin video series, Real Vision features John Hathaway, Senior Portfolio Manager of Tocqueville Asset Management, being interviewed by Dan Tapiero of DTAP Capital.

10/4/2019
Tocqueville Gold Strategy* Third Quarter 2019 Investor Letter

John Hathaway discusses current market conditions.

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Insights from Sprott


How To Invest

You may purchase shares of Sprott Gold Equity Fund through:

  • Authorized financial intermediaries including securities dealers
  • The Fund’s distributor, Sprott Global Resource Investments
  • The Fund’s transfer agent, U.S. Bank Global Fund Services, by mailing in account applications; please telephone 844.940.GOLD (4653) for assistance. All applications should be mailed to:
     
    Sprott Gold Equity Fund
    c/o U.S. Bank Global Fund Services
    615 E. Michigan St., FL3
    Milwaukee, WI 53202-5207

Shares of the Fund have not been registered for sale outside of the United States, Puerto Rico, Guam and the U.S. Virgin Islands. The Fund generally does not sell shares to investors residing outside the United States, Puerto Rico, Guam and the U.S. Virgin Islands, even if they are United States citizens or lawful permanent residents, except to investors with United States military APO or FPO addresses.

The prospectus includes more detailed information regarding how to purchase, redeem or exchange Fund shares. Please read the appropriate prospectus carefully before investing. If you have questions or would like more information please  contact us at 888.622.1813 or email sprottgoldequityfund@sprott.com, or speak to your Financial Advisor.  

Who may want to invest in the Sprott Gold Equity Fund?

  • Long-term investors seeking to add an actively-managed mutual fund of gold mining equities and physical gold bullion to a diversified investment portfolio
  • Investors seeking potential growth over time
  • Investors who can tolerate short-term fluctuations in net asset value (“NAV”) per share
  • Investors seeking long-term preservation of capital (sufficient growth to outpace inflation over an extended period of
    time) and growth of capital
SGDLX – Investor Class A
CUSIP: 85208P105
SGDIX – Institutional Class I
CUSIP: 85208P204

Documents


Distributions to Shareholders History

Fiscal Year Ending October 31 Dividends from Net Investment Income Distributions from Net Realized Gains Total Distributions
2019 None None None
2018 None None None
2017 None None None
2016 None None None
2015 None None None
2014 None None None

To learn more about Sprott Gold Equity Fund, please telephone a Sprott representative at 888.622.1813 or email sprottgoldequityfund@sprott.com.

 

Important Disclosure

Portfolio facts and statistics are shown for Investor Class A shares only unless otherwise noted; other classes may have different characteristics.

Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectus which should be considered carefully before investing. Click here to obtain the prospectus or call 888.622.1813.

Past performance is not a guarantee of future results. All data is in U.S. dollars unless otherwise noted. The Fund invests in gold and other precious metals, which involves additional and special risks, such as the possibility for substantial price fluctuations over a short period of time; the market for gold/precious metals is relatively limited; the sources of gold/precious metals are concentrated in countries that have the potential for instability; and the market for gold/precious metals is unregulated. The Fund may also invest in foreign securities, which are subject to special risks including: differences in accounting methods; the value of foreign currencies may decline relative to the US dollar; a foreign government may expropriate the Fund’s assets; and political, social or economic instability in a foreign country in which the Fund invests may cause the value of the Fund’s investments to decline. The Fund is non-diversified, meaning it may concentrate its assets in fewer individual holdings than a diversified fund. Therefore, the Fund is more exposed to individual stock volatility than a diversified fund.

Ratings may reflect fee waivers in effect; in their absence, ratings may have been lower. Ratings for other share classes may vary. As of 3/16/2020, the Investor Class was rated against the Equity Precious Metals Funds category over the following time periods: 3 stars out of 60 funds over 3 years, 3 stars out of 58 funds over 5 years, and 4 stars out of 46 funds over 10 years. The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product’s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The Morningstar Rating does not include any adjustment for sales loads. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods. ©2019 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete, or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Sprott Gold Equity Fund may be offered only to persons in the United States. This literature should not be considered a solicitation or offering of any investment products or services to investors residing outside of the United States.

Sector weightings are determined using the Global Industry Classification Standard (“GICS”). GICS was developed by, and is the exclusive property of, Standard & Poor’s Financial Services LLC (“S&P”) and MSCI Inc. (“MSCI”). GICS is the trademark of S&P and MSCI. “Global Industry Classification Standard (GICS)” and “GICS Direct” are service marks of S&P and MSCI.

NOT FDIC INSURED • MAY LOSE VALUE • NOT BANK GUARANTEED

Sprott Asset Management LP is the investment adviser to the Fund. The information contained herein does not constitute an offer or solicitation by anyone in the United States or in any other jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation. Sprott Global Resource Investments Ltd. is the Fund’s distributor.

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