Euromoney Indices (EI) has been selected by Baker Steel as benchmark provider for the Baker Steel Precious Metals Fund.
The fund will use the Euromoney Global Gold Index, a sub-index of the Euromoney Global Natural Resources Index Series. The sub-index currently has 39 constituents with a 55.6 per cent weighting to Canada and a 14.5 per cent weighting to the USA.
The Baker Steel Precious Metals Fund, launched in May 2008, aims to achieve long-term capital growth from a long-only portfolio consisting primarily of listed gold and precious metals equities. It is a concentrated portfolio with a focus on producers and developers. The fund offers daily liquidity and is available to institutional and retail investors in Austria, France, Germany, Luxembourg, Switzerland and the United Kingdom.
Sui Chung (pictured), Managing Director of Euromoney Indices, says: “Baker Steel is one of the world’s best known natural resources investment specialists and Euromoney Indices has extensive experience in this sector through our well established Global Natural Resources Index Series. Our robust and transparent index construction and calculation methodology ensures that we are ideally placed to meet Baker Steel’s benchmarking requirements.”
