Baker Steel Capital manager has agreed to terms to become the new investment manager of the £75.8m Golden Prospect Precious Metals Ltd investment trust.
The precious metal trust has ranked as the best-performing strategy in the IT Commodities and Natural Resources trust over the past three years, up 220.7% according to data from FE fundinfo.
The team said Golden Prospect will complement the team’s existing offering by providing access to investment opportunities in the exploration and development space, which has deeper value, higher risk and lower liquidity.
For reference, the second best-performing trust in the sector over the past three years was Baker Steel Resources Trust (managed by the same team), which invests in pre-IPO and special situations in the natural resources sector and recently joined the FTSE All Share. It is up 177.5% over the past three years, according to FE fundinfo.
Mark Burridge, CEO and fund manager at Baker Steel, described it as a “tremendous accolade” to be appointed as investment manager of Golden Prospect.
“The company has a strong heritage in the precious metals sector, and we look forward to applying our disciplined, value-driven investment approach with the objective of delivering long-term value for shareholders.”
See also: ‘A war of attrition’: CQS Natural Resources doubles oil exposure and slashes precious metals holdings
