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TGLDX Tocqueville Gold

  • Fund
  • TGLDX
  • Price as of: Aug 08, 2016
  • $46.23
  • + $0.25
  • + 0.54%
  • Category
  • Precious Metals

TGLDX - Profile

Vitals

  • YTD Return 92.2%
  • 3 Yr Annualized Return 5.9%
  • 5 Yr Annualized Return -10.8%
  • Net Assets $1.6 B
  • Holdings in Top 10 50.9%

52 WEEK LOW AND HIGH

$46.23
$22.25
$47.63

Expenses

OPERATING RELATED FEES

  • Expense Ratio 1.43%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 11.00%

TRADING FEES

  • Max Redemption Fee 2.00%

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$250

Investment Themes

CATEGORY

Precious Metals
  • Fund Type Open End Mutual Fund
  • Investment Style Equity Precious Metals

Distributions

  • YTD Total Return 92.2%
  • 3 Yr Annualized Total Return 5.9%
  • 5 Yr Annualized Total Return -10.8%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio -0.84%
DIVIDENDS
  • Dividend Yield N/A
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name Tocqueville Gold Fund
  • Fund Family Name Tocqueville
  • Inception Date Jun 29, 1998
  • Shares Outstanding N/A
  • Share Class No Load
  • Currency USD
  • Domiciled Country United States
  • Manager Douglas B. Groh

Fund Description

The Tocqueville Gold Fund (TGLDX) is an actively managed fund that bets on the precious metals sector. It uses various value metrics to determine which companies in the gold and precious metal space are trading at discounts to their intrinsic worth. TGLDX can own stocks domiciled in any nation across any market-cap size. The fund can and does hold physical gold either through bullion, coins or shares in gold ETFs.

Given that fees for the fund run on the expensive side and its narrow focus, TGLDX should be used as a side position in a diversified portfolio. The fund is internally managed by Tocqueville Asset Management.

TGLDX - Performance

Return Ranking - Trailing

Period TGLDX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 92.2% 22.7% 146.6% 83.87% 5
1 Yr 88.2% -34.6% 147.8% 88.71% 5
3 Yr 5.9% * -29.5% 14.8% 69.35% 4
5 Yr -10.8% * -23.7% -6.1% 60.00% 3
10 Yr 2.9% * -9.1% 5.4% 16.67% 1

* Annualized


Return Ranking - Calendar

Period TGLDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -24.9% -31.7% -5.2% 67.74% 4
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

Total Return Ranking - Trailing

Period TGLDX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 92.2% 22.7% 146.6% 83.87% 5
1 Yr 88.2% -37.2% 147.8% 85.48% 5
3 Yr 5.9% * -30.2% 14.8% 61.29% 3
5 Yr -10.8% * -24.0% -6.1% 53.33% 3
10 Yr 2.9% * -9.1% 5.4% 11.67% 1

* Annualized


Total Return Ranking - Calendar

Period TGLDX Return Category Return Low Category Return High Rank in Category (%) Quintile
2015 -24.9% -31.7% -5.2% 67.74% 4
2014 N/A N/A N/A N/A N/A
2013 N/A N/A N/A N/A N/A
2012 N/A N/A N/A N/A N/A
2011 N/A N/A N/A N/A N/A

NAV & Total Return History

TGLDX - Holdings

Filings data as of: Jun 30, 2016

Concentration Analysis

TGLDX Category Low Category High TGLDX % Rank Quintile
Net Assets 1.6 B 25.7 M 3.01 B 4.84% 1
Number of Holdings 82 34 157 9.68% 2
Net Assets in Top 10 793 M 15 M 1.07 B 6.45% 1
Weighting of Top 10 50.9% 35.0% 61.8% 20.97% 3

Top 10 Holdings

  1. Physical Gold 10.15%
  2. Franco-Nevada Corp 5.50%
  3. Agnico Eagle Mines Ltd 5.55%
  4. Randgold Resources Ltd ADR 4.85%
  5. Detour Gold Corp 7.62%
  6. Torex Gold Resources Inc 3.78%
  7. Newmont Mining Corp 3.34%
  8. Alamos Gold Inc 3.36%
  9. Pan American Silver Corp 3.35%
  10. OceanaGold Corp 3.35%

Asset Allocation

Weighting Category Low Category High TGLDX % Rank Quintile
Stocks
84.92% 0.00% 100.64% 29.03% 5
Other
12.59% -1.64% 19.13% 4.84% 1
Cash
1.27% 0.74% 36.15% 25.81% 4
Convertible Bonds
1.22% 0.00% 8.88% 6.45% 1
Preferred Stocks
0.00% 0.00% 0.21% 6.45% 2
Bonds
0.00% 0.00% 46.74% 8.06% 1

Stock Sector Breakdown

Weighting Category Low Category High TGLDX % Rank Quintile
Basic Materials
83.17% 0.00% 100.64% 30.65% 5
Financial Services
0.00% 0.00% 0.00% 1.61% 1
Real Estate
0.00% 0.00% 0.00% 1.61% 1
Industrials
0.00% 0.00% 1.89% 3.23% 1
Healthcare
0.00% 0.00% 0.00% 1.61% 1
Technology
0.00% 0.00% 0.00% 1.61% 1
Energy
0.00% 0.00% 0.76% 4.84% 2
Communication Services
0.00% 0.00% 0.00% 1.61% 1
Consumer Defense
0.00% 0.00% 0.15% 3.23% 1
Consumer Cyclical
0.00% 0.00% 1.64% 3.23% 1
Utilities
0.00% 0.00% 0.00% 1.61% 1

Stock Geographic Breakdown

Weighting Category Low Category High TGLDX % Rank Quintile
Non US
78.64% 0.00% 92.30% 29.03% 5
US
6.28% 0.00% 20.23% 25.81% 4

TGLDX - Expenses

Operational Fees

TGLDX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 1.43% 0.35% 20.51% 46.77% 3
Management Fee 0.85% 0.32% 1.00% 6.45% 5
12b-1 Fee 0.25% 0.00% 1.00% 13.04% 1
Administrative Fee 0.15% 0.05% 1.00% 11.76% 3

Sales Fees

TGLDX Fees (% of AUM) Category Low Category High TGLDX Rank Quintile
Front Load N/A 3.50% 5.75% N/A N/A
Deferred Load N/A 1.00% 5.00% N/A N/A

Trading Fees

TGLDX Fees (% of AUM) Category Low Category High TGLDX Rank Quintile
Max Redemption Fee 2.00% 0.05% 2.00% 3.33% 3

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TGLDX Fees (% of AUM) Category Low Category High TGLDX Rank Quintile
Turnover 11.00% 8.00% 797.00% 22.58% 1

TGLDX - Distributions

Dividend Yield Analysis

TGLDX Category Low Category High TGLDX % Rank Quintile
Dividend Yield N/A 0.00% 2.19% N/A N/A

Dividend Distribution Analysis

TGLDX Category Low Category High Category Mode
Dividend Distribution Frequency Annually Annually Quarterly Annually

Dividend Payout History


Net Income Ratio Analysis

TGLDX Category Low Category High TGLDX % Rank Quintile
Net Income Ratio -0.84% -2.18% 2.22% 58.06% 4

Capital Gain Distribution Analysis

TGLDX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

TGLDX - Managers

Douglas B. Groh

Manager

Start Date

Jan 01, 2012

Tenure

4.58

Tenure Rank

17.0%

Mr. Groh also serves as a Portfolio Manager and Senior Research Analyst at Tocqueville Asset Management, L.P. and is a member of the gold investment team. Prior to joining the firm in 2003, Mr. Groh was Director of Investment Research at Grove Capital from 2001 to 2003, and from 1990-2001, held investment research and banking positions at J.P. Morgan, Merrill Lynch and ING Bank. Mr. Groh began his career as a mining and precious metals analyst in 1985 at U.S. Global Investors. Mr. Groh earned a BS in Geology and Geophysics from the University of Wisconsin – Madison and an M.A. from the University of Texas at Austin, where he focused on mineral economics.


John C. Hathaway

Manager

Start Date

Jun 29, 1998

Tenure

18.1

Tenure Rank

5.0%

John Hathaway, CFA, Senior Portfolio Manager, joined Tocqueville in 1997. He co-manages the Tocqueville Gold Fund (TGLDX). In addition, he manages separate accounts with a gold equity mandate including the Falcon Gold Fund, the Falcon Gold UCITS Fund, Tocqueville Gold Amerique (FCP), a sovereign wealth fund, and various separate accounts for family offices and government entities. Prior to joining Tocqueville, Mr. Hathaway co-founded and managed Hudson Capital Advisors followed by seven years with Oak Hall Advisors as the Chief Investment Officer in 1986. In 1976, he joined the investment advisory firm David J. Greene and Company, where he became a Partner. Mr. Hathaway began his investment career in 1970 as a research analyst with Spencer Trask & Co. Mr. Hathaway graduated from Harvard College in 1963 (B.A.) and from the University of Virginia Business School in 1967 (M.B.A). He also holds the CFA designation.


Tenure Analysis

Category Low

0.2

Category High

28.5

Category Average

8.59

Category Mode

1.6