IW ALTERNATIVE SIF COMMODITIES & GOLD EQUITIES WHY TO SELECT IW - - PowerPoint PPT Presentation

IW ALTERNATIVE SIF COMMODITIES & GOLD EQUITIES WHY TO SELECT IW IN PRECIOUS MINING DEDICATION TOWARDS JUNIORS AND EXPLORATION COMPANIES

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ASSET MANAGEMENT - ASSET SERVICES - ASSET SOLUTIONS

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WHY TO INVEST IN PRECIOUS METALS

H E D G E against Financial repression and any fallout of the coming fjnancial collapse of:

• governments bonds (loss of confjdence in governments)
• dollar-reserve-imperium (currency war – forced monetary reset)

F E A R – TRADE Gold’s moneyness makes it a buy against worldwide fjnancial instabilities L O V E – TRADE Gold as a commodity is a buy

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PRO & CONTRA: BULLION & MINES

B U L L I O N

• Debt & Government f r e e - store of value

No preference between bullion or mining but rational allocation based on objective valuations and ratios M I N E S

• Mines produce leverage on price movements in bullion
• Juniors and Explorers extend this leverage (embedded optionality)
• Undervaluation of mining sector against bullion presents a relative strong buy from a historical

perspective

• Tie mining sector regained its religion (disciplined capital allocation, return instead of turnover)
• Mines can rise with rising rates - impact on production, cost-margin expansion - while interest

bearing other active become less attractive

• Mines can rise in a defmation - gold’s singularity: the only commodity with a quasi constant

moneyness (gold falls less than other active in such an environment)

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WHICH ALLOCATION: BULLION & MINES

I n a t i

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D e a t i

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Real Estate Equity Collectibles Cash Bonds C

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m

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TOP-DOWN

STRATEGIC ASSET ALLOCATION

CLIENT‘S CHOICE

Physical Gold Physical Silver Precious Metals Minings

Private Store Pictet Store BMG Seggregated ETF‘s Precious Metals Fund Family High / Medium / Low

hedge return liquidity

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v e r t i b l e

Min. iW-Suggestion 15% M a x . i W

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u g g e s t i

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3 % A l l

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a t i

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8 5 % A l l o c a t i o n 7 0 %

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WHY TO SELECT IW-TEAM

I D E O L O G Y

• We are a dedicated independent team
• We are not gold bugs, no gold standard fjat-money ideologists
• We don’t have absurd timing pretentions: macro-economic facts don’t have linear implications for

the gold market

• We are independent and fmexible: no classical benchmark allocation

P O T E N T I A L

• We take full leverage from our preference to juniors and explorers with an elaborated counterpart

in royalties and producers

• Being a small fund we can allocate to gold and silver microcaps in terms of effjciency and impact

whiteout distorting the share price

• Risk management objective to counter high small cap volatility with our strategy towards royalties

and dividend yielding producers A D D E D V A L U E

• Results of the executed strategies: proven excess return in upside-market

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ASSET MANAGEMENT - ASSET SERVICES - ASSET SOLUTIONS

20, RUE DE L’INDUSTRIE L-8399 WINDHOF TEL +352 27 99 99 99 INFO@IW-PARTNERS.COM