Radar Alert: Mispriced gold shares drive Baker Steel Gold returns

RADAR ALERT

Legacy of the financial crisis contributes to impressive performance of Baker Steel Gold.

CF Ruffer Baker Steel Gold has generated impressive returns over the past year, driven by the rising gold price and the managers’ active stock selection. Launched in 2003, David Baker and Trevor Steel’s £366m vehicle, which sits in the IMA Specialist sector, is up 206.8% over five years to 4 May. On a three-year and one-year view the fund is up 58% and 85% respectively. The portfolio aims to achieve capital growth over the long term by investing in undervalued gold and precious metal-related companies. It does not invest in physical commodities. Steel describes Baker Steel Capital ...