IW ALTERNATIVE SIF COMMODITIES & GOLD EQUITIES WHY TO SELECT IW IN PRECIOUS MINING DEDICATION TOWARDS JUNIORS AND EXPLORATION COMPANIES iW PARTNERS ASSET MANAGEMENT - ASSET SERVICES - ASSET SOLUTIONS
WHY TO INVEST IN PRECIOUS METALS H E D G E against Financial repression and any fallout of the coming fjnancial collapse of: - governments bonds (loss of confjdence in governments) - dollar-reserve-imperium (currency war – forced monetary reset) F E A R – TRADE Gold’s moneyness makes it a buy against worldwide fjnancial instabilities L O V E – TRADE Gold as a commodity is a buy iW PARTNERS
PRO & CONTRA: BULLION & MINES B U L L I O N • Debt & Government f r e e - store of value No preference between bullion or mining but rational allocation based on objective valuations and ratios M I N E S • Mines produce leverage on price movements in bullion • Juniors and Explorers extend this leverage (embedded optionality) • Undervaluation of mining sector against bullion presents a relative strong buy from a historical perspective • Tie mining sector regained its religion (disciplined capital allocation, return instead of turnover) • Mines can rise with rising rates - impact on production, cost-margin expansion - while interest bearing other active become less attractive • Mines can rise in a defmation - gold’s singularity: the only commodity with a quasi constant moneyness (gold falls less than other active in such an environment) iW PARTNERS
WHICH ALLOCATION: BULLION & MINES TOP-DOWN STRATEGIC ASSET ALLOCATION hedge i iW-Suggestion 15% W - S u M g Min. Private Store Physical Gold g a Precious Metals e x Pictet Store s . t Fund Family i BMG o n High / Medium / Low Physical Silver Seggregated ETF‘s 3 0 % Precious Metals Minings A l l o c a t i o n 7 0 % I n Collectibles n % o a 5 Cash t i i 8 s o s n e n r o p i t t o e C o m m a o d i t y D c H o l o Bonds y l t p A Equity e n r o - I i t n a a e C t e D i o o l b n n i v t e r Real Estate liquidity return CLIENT‘S CHOICE iW PARTNERS
WHY TO SELECT IW-TEAM I D E O L O G Y • We are a dedicated independent team • We are not gold bugs, no gold standard fjat-money ideologists • We don’t have absurd timing pretentions: macro-economic facts don’t have linear implications for the gold market • We are independent and fmexible: no classical benchmark allocation P O T E N T I A L • We take full leverage from our preference to juniors and explorers with an elaborated counterpart in royalties and producers • Being a small fund we can allocate to gold and silver microcaps in terms of effjciency and impact whiteout distorting the share price • Risk management objective to counter high small cap volatility with our strategy towards royalties and dividend yielding producers A D D E D V A L U E • Results of the executed strategies: proven excess return in upside-market iW PARTNERS
iW PARTNERS ASSET MANAGEMENT - ASSET SERVICES - ASSET SOLUTIONS 20, RUE DE L’INDUSTRIE L-8399 WINDHOF TEL +352 27 99 99 99 INFO@IW-PARTNERS.COM
Recommend
More recommend
