Schroders renames and changes objective on Gold & Metals fund

Schroders has renamed its gold and metals fund and changed the investment objective to allow it to invest in a different set of underlying commodities, including gold equities for the first time.

The Schroder AS Gold & Metals fund is now named the Schroder AS Gold and Precious Metals fund. It is managed by Paula Bujia, and invests in a range of instruments including futures, swaps, physically-backed exchange traded funds (ETFs). The manager will aim to be 50%-100% invested in gold, but can now hold up to 50% in gold equities depending on the market outlook. Previously the fund could hold metals such as copper and aluminium, but the manager will now focus on precious metals silver and platinum, up to 33% of the fund. The manager can also hold up to 33% in cash in order to...