From 1 May 2025 the management of the VCT will move to Maven Capital Partners.

“Trump Tariff Terror”

Following President Trump’s commitment to impose tariffs worldwide, join Amati Insights on Tuesday 15 April 2025 at 8.45am with fund managers Dr Paul Jourdan, Georges Lequime & Graeme Bencke who will offer their thoughts and perspectives on the recent market gyrations.  If you would like to be notified of future Insights discussions, please email info@amatiglobal.com and we’ll add you to the distribution list.

Resource investing can be a lonely space at the best of times. As value investors we avoid the crowded trades, but usually when the sales are on, the markets are busy. This is not the case for the precious metal equity markets.  The generalist investor is still chasing tech and the broader index.  With gold prices hitting all-time highs and the silver price following, the all in profit margins are well over US$750/oz for the gold producers generating an average 7% free cash flow yield with some mid cap producers over 15%. Surprising then that the gold equity valuations still remain well below historical averages.