Strategie alternative: oro e argento
In un periodo di turbolenze economiche, i metalli monetari destano interesse.
PERCHÉ INVESTIRE SULL'ARGENTO INSIEME ALL'ORO FISICO?
Nell’attuale era di incertezze politiche l’oro è una moneta “apolitica” dato che non è emessa da una banca centrale o da un governo. Il dollaro statunitense è invece altamente politicizzato: la minaccia della de-dollarizzazione è sempre presente ed il ruolo privilegiato del dollaro statunitense nel sistema finanziario mondiale è sempre più messo in discussione.
Le banche centrali iniettano inoltre enormi quantità di liquidità per stimolare il sistema, gonfiando i loro bilanci a livelli estremi. E diversamente da quanto accaduto nel 2008, questo denaro affluisce nell’economia reale.
La storia ci insegna che ciò potrebbe tradursi in un incremento dell’inflazione, con tassi di interesse reali negativi e una svalutazione delle monete fiduciarie.
Se la Federal Reserve dovesse adottare una politica monetaria ancora più estrema, come la Teoria Monetaria Moderna o l”helicopter money” per sostenere i piani di spesa del governo, ciò spingerebbe ulteriormente l’oro al rialzo in quanto strumento di copertura contro l’inflazione.
Includere l’argento nel portafoglio offre il potenziale per rendimenti più alti rispetto a un’allocazione di oro puro. I prezzi dell’argento tendono a seguire quelli dell’oro. L’argento tipicamente aumenta di valore più velocemente dell’oro quando i prezzi dei metalli preziosi sono in aumento. Ma poiché i mercati dell’argento sono più piccoli, i prezzi dell’argento diminuiscono anche piùvelocemente quando entrambi i metalli sono in calo. L’argento ha anche una doppia importanza come componente industriale, oltre ad essere una riserva di valore monetaria.
Why allocate to silver alongside physical gold?
Including silver in the portfolio offers the potential for higher returns than a pure gold allocation. Silver prices tend to follow gold. Silver typically increases in value faster than gold when precious metal prices are rising. But because silver markets are smaller, silver prices also decline faster when both metals are falling. Silver also has dual importance as an industrial component, as well being a monetary store of value. There is growing demand for silver for use in green technologies, such as photovoltaic cells for solar panels, and it is widely used in electronics! Silver can be found in solar cells, water purifiers, touch screen & smartphones, electric vehicles and semiconductors.
I pannelli solari usano la pasta d'argento per rivestire i wafer di silicio
L'argento protegge ifiltri dai batteri
L'argento ultrasottile migliorerà i touchscreen degli smartphone
L'argento sarà vitale nelle batterie avanzate
L'alta conducibilità dell'argento lo rende vitale nella produzione di chip
Meet the team
About the fund manager
Ned joined the company from Merian Global Investors and manages the Jupiter Gold & Silver Fund. He has nearly two decades of experience in precious metals investing, having founded a dedicated monetary metals fund in 2009 at Quilter Cheviot. Ned began his career at Smith & Williamson and graduated from the University of Bristol in 1998 with a BA (Hons) in Spanish.
Fund specific risks
- Investment risk – there is no guarantee that the Fund will achieve its objective. A capital loss of some or all of the amount invested may occur.
- Sector concentration risk – the Fund’s investments are concentrated in natural resource companies, and may be subject to a greater degree of risk and volatility than a fund following a more diversified strategy. Silver tends to outperform gold in a rising gold price environment and it tends to underperform gold when sentiment moves against the sector.
- Strategy risk – as the Fund invests in other collective investment schemes, which themselves invest in assets such as bonds, company shares, cash and currencies, it will be subject to the collective risks of these other funds. This may include emerging markets risk and smaller companies risk.
- Company shares (i.e. equities) risk – the value of Company shares (i.e. equities) and similar investments may go down as well as up in response to the performance of individual companies and can be affected by daily stock market movements and general market conditions. Other influential factors include political, economic news, company earnings and significant corporate events.
- Concentration risk (number of investments) – the Fund may at times hold a smaller number of investments, and therefore a fall in the value of a single investment may have a greater impact on the Fund’s value than if it held a larger number of investments.
- Smaller companies risk – smaller companies are subject to greater risk and reward potential. Investments may be volatile or difficult to buy or sell.
- Liquidity risk – some investments may become hard to value or sell at a desired time and price. In extreme circumstances this may affect the Fund’s ability to meet redemption requests upon demand.
- Currency risk – the Fund can be exposed to different currencies. The value of your shares may rise and fall as a result of exchange rate movements.
- Derivative risk – the Fund may use derivatives to generate returns as well as to reduce costs and/or the overall risk of the Fund. Using derivatives can involve a higher level of risk. A small movement in the price of an underlying investment may result in a disproportionately large movement in the price of the derivative investment. Derivatives also involve counterparty risk where the institutions acting as counterparty to derivatives may not meet their contractual obligations.
For a more detailed explanation of risks, please refer to the “Risk Factors” section of the prospectus.
This is a marketing communication. Please refer to the latest sales prospectus of the sub-fund and to the Key Investor Information Document (KIID), particularly to the sub-fund’s investment objective and characteristics including those related to ESG (if applicable), before making any final investment decisions.
This communication is intended for investment professionals and is not for the use or benefit of other persons, including retail investors.
This communication is for informational purposes only and is not investment advice. Market and exchange rate movements can cause the value of an investment to fall as well as rise, and you may get back less than originally invested. Initial charges are likely to have a greater proportionate effect on returns if investments are liquidated in the shorter term.
Past performance is not a guide to future performance. Company examples are for illustrative purposes only and are not a recommendation to buy or sell. Quoted yields are not a guide or guarantee for the expected level of distributions to be received. The yield may fluctuate significantly during times of extreme market and economic volatility. Awards and Ratings should not be taken as a recommendation. The views expressed are those of the Fund Manager(s) / author(s) at the time of writing, are not necessarily those of Jupiter as a whole and may be subject to change. This is particularly true during periods of rapidly changing market circumstances. Every effort is made to ensure the accuracy of the information provided but no assurance or warranties are given.
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