Month in Review
The HHV portfolio fell by 2.1% in June 2016. However, it outperformed its benchmark, the MSCI World, by 1.7%.
Global macro uncertainty, and, very recently, the fall-out from Britain’s Brexit decision, increased the attractiveness of gold as a safe haven asset over the month, which saw its price in A$ rise 5.2% over June (hitting a 52-week high at A$1,797.39/ounce towards the end of the month). This provided a favourable backdrop for our basket of gold miners, St Barbara (+12%), Doray Minerals (+22%), Beadell Resources (+36%) and Blackham Resources (+49%).
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