Sprott Gold Equity Fund (2024)

Latest Commentary

*See Fees & Expenses below for full details.

Growth of $10,000 Since Inception

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For the period 12/31/2023. This graph represents the growth of a hypothetical investment of $10,000 invested in Investor Class shares. It assumes reinvestment of dividends and capital gains, and does not reflect redemption fees or the effects of taxes on any capital gains and/or distributions. Based on Investor Class shares.

Expenses are per the Fund’s most recent prospectus dated July 3, 2023.

Expenses are per the Fund’s most recent prospectus dated July 3, 2023.

10/13/2023
Gold and the Debt Bubble

John Hathaway: "Despite recent weakness in gold and precious metals stocks, we believe gold may be poised for stronger performance in the coming months. The Federal Reserve's "higher for longer" stance on interest rates is unsustainable and could lead to a general credit deflation and a recession. Trouble is brewing in the banking system and the labor market, which could further support a rise in gold prices. We expect the payoff from the past two decades of incompetent central banking to benefit gold investors."

7/12/2023
Sprott Gold Report: Gold vs. Gold Stocks, An Unresolved Incongruity

John Hathaway: "Gold mining stocks are inextricably connected to the price behavior of gold bullion. Yet their recent response to the gold bull market has been disappointing. If gold should rise above the psychological $2,000 threshold, this will likely provide a strong catalyst for stocks, which are severely undervalued on a relative and absolute basis and provide attractive investment opportunities. "

4/3/2023
Sprott Gold Report: Is My Money Safe?

Let it be said here that the financial media at best pays only lip service to the thought: there is likely no safer asset than physical gold. The yellow metal has no counterparty risk (unlike all other financial instruments including bank deposits and government bonds), is highly liquid and has an unbroken record of retaining value in absolute terms and relative to financial assets.

4/11/2023
Podcast: Everything Everywhere All At Once

John Hathaway, CFA, shares his bullish outlook ongold and gold mining stocks, in the wake of recent bank failures and the Fed’s interest rate tightrope walk. “For open-minded investors, the good news is the train has yet to leave the station, and it’s not a high-risk decision to allocate to gold.”

2/15/2023
Podcast: Kabuki Dance of the Black Swans

John Hathaway:"To me, that's where I think the rubber could hit the road in terms of a Fed pivot and then basically throwing in the towel on the anti-inflation war path that the Fed has been on. Basically, I think we're off to the races with gold."

1/5/2023
Sprott Gold Report: Connecting a Few Dots

Gold was an effective hedge in 2022, returning -0.28% for the bear market year. The yellow metal outperformed the S&P 500 Index, which declined 18.11%. Gold mining equities also outpaced the S&P 500. Looking ahead, we believe investors willing to seize the opportunity presented by inexpensive, unloved gold mining equities, will have the potential to reap substantial benefits from breaking the ranks of groupthink.

10/7/2022
The Dollar, Safe Haven or Leaky Lifeboat?

The parabolic rise in the dollar contains the seeds of its own demise. The kiss of death, as for all overcrowded trades, is that it has become front page news. Dollar strength is a mirage, the reverse image of the flaw inherent in all paper currencies. The fatal flaw is that they are the ever increasing issuance of fiscal decay. The façade of dollar strength foretells a comeuppance for all currencies in the form of a steep devaluation in terms of gold.

7/15/2022
Inflation, No Quick Fix

If the Fed is to abandon the practice of inflating financial assets, which would represent a secular shift in direction, substantial deflation lies ahead from which the purchasing power of gold is expected increase in real terms. If there is a return to business as usual, i.e., papering over policy mistakes, we believe that the gold price has the potential to rise to all-time highs in nominal terms.

6/15/2022
John Hathaway & Ted Oakley: Gold Outlook, Inflation & Bullion vs. Miners

Ted Oakleyof Oxbow Advisors interviews Sprott'sJohn Hathawayon the gold bullion and gold equities markets. Oakley and Hathaway discuss why investors should consider adding gold to their investment portfolios and explore how gold affects portfolio diversification.

4/13/2022
Putin’s Gambit

The price of gold has been treading water for 10 years while the investment fundamentals have improved dramatically. That is why, in our opinion, significant upside lies ahead for gold and related equities. Putin’s war introduces yet an additional reason to stoke investment demand for the yellow metal. It is not only war in the kinetic sense, but the reserve currency and cyber aspects that have far-reaching implications for gold.

3/16/2022
Gold: A True Store of Value

Throughout history, gold has played a prominent role in the advancement of human civilization. Seen as a representation of the sun, of the gods and of true value, gold is a form of real money without counterparty risks. Symbol Au, atomic number 79, gold has been used to adorn the tombs of the great pharaohs and to help power spacecrafts that extend the horizons of humanity’s domain. Learn about gold’s culture, uses and history.

2/15/2022
Podcast: Super Terrific Happy Hour with John Hathaway

Stephanie PomboyandGrant Williams, hosts of the popular podcastSuper Terrific Happy Hour,interview a true legend of the precious metals industry,John Hathaway. The three discuss the Fed, inflation, the financial markets and the outlook for gold bullion and gold stocks.

1/12/2022
Waiting for the Pivot

With Fed policy taking a more hawkish turn, the fire hose of liquidity that has fueled market mania is being turned off. At this moment, it appears that confidence in the Fed and attraction to gold are binary. Our view is that a position in gold offers a very favorable asymmetric risk-reward proposition on the possibility that confidence will not survive 2022.

10/18/2021
It's Show Time for the Fed

Overconfidence, complacency, recklessness and intoxication appear to characterize today's financial market zeitgeist. An unraveling of the market's speculative euphoria would constitute a near perfect environment for gold bullion and gold mining shares given that the fundamentals have rarely appeared more solid.

7/12/2021
You Gotta Have Faith

June's gold selling was almost entirely a knee-jerk synthetic affair driven by algorithmic, headline scanning robotic macro funds. We believe the smackdown was a temporary reaction to the perceived change in the Fed's posture towards possible balance sheet reduction. In our opinion, gold and gold mining stocks are compelling buys and the investment rationale for precious metals exposure remains unscathed.

4/9/2021
The Gold Investment Thesis Revisited

Defensive investment strategies are few and far between. Fixed income, debased by artificially low rates, no longer passes muster. Selling volatility to generate income seems like a form of insanity. Gold is the obvious answer. Whether in physical form or precious metals mining shares sporting good dividend yields and trading at depressed valuations, this unwanted investment strategy will prove seaworthy for all conditions.

1/22/2021
One of the Greatest Bubbles in History

The fate of the stock market and the outlook for gold are more intertwined than most realize. Gold has been performing well, but its outperformance is a well-kept secret. If a general bear market sets in, more investors will embrace gold and gold mining stocks. In the meantime, macroeconomic and valuation factors continue to build in gold's favor.

10/14/2020
Gold, The Simple Math

The current pullback in the precious metals sector is a buying opportunity. It is possible that gold and gold mining shares could continue to chop sideways-to-lower until the U.S. presidential election results are known and even into yearend as the implications are sorted out. We believe that now is the time to start layering in gold exposure, not when the rest of the world tries to do so.

7/21/2020
A Very Fat Pitch

We believe that the macro forces for gold and gold mining stocks have coalesced into what may be one of the 'fattest investment pitches' of our time. A fat pitch is a momentary event, akin to catching a major trend change in the financial markets. Such opportunities do not come around often. They deserve serious consideration and expeditious response.

4/20/2020
Secular Gold Bull Resumes with Force

Gold is on the cusp of breaking out to all-time highs in U.S. dollars and has already done so in virtually every other currency. Gold mining stocks continue to lag the metal and, in our opinion, represent a compelling investment opportunity.

1/23/2020
Why Gold

John Hathaway explores why investing in gold makes sense for most investors and how it helps protect portfolios.

1/23/2020
Why Gold Equities

Doug Groh looks at how gold mining equities have been revitalized by improved managements and M&A.

You may purchase shares of Sprott Gold Equity Fund through:

• Authorized financial intermediaries including securities dealers
• The Fund’s distributor, Sprott Global Resource Investments
• The Fund’s transfer agent, U.S. Bank Global Fund Services, by mailing in account applications; please telephone 844.940.GOLD (4653) for assistance. All applications should be mailed to:
  
  Sprott Gold Equity Fund
  c/o U.S. Bank Global Fund Services
  615 E. Michigan St., FL3
  Milwaukee, WI 53202-5207

Shares of the Fund have not been registered for sale outside of the United States, Puerto Rico, Guam and the U.S. Virgin Islands. The Fund generally does not sell shares to investors residing outside the United States, Puerto Rico, Guam and the U.S. Virgin Islands, even if they are United States citizens or lawful permanent residents, except to investors with United States military APO or FPO addresses.

The prospectus includes more detailed information regarding how to purchase, redeem or exchange Fund shares. Please read the appropriateprospectuscarefully before investing.If you have questions or would like more information please contact us at888.622.1813or email sprottgoldequityfund@sprott.com, or speak to your Financial Advisor.

Who may want to invest in the Sprott Gold Equity Fund?

• Long-term investors seeking to add an actively-managed mutual fund of gold mining equities and physical gold bullion to a diversified investment portfolio
• Investors seeking potential growth over time
• Investors who can tolerate short-term fluctuations in net asset value (“NAV”) per share
• Investors seeking long-term preservation of capital (sufficient growth to outpace inflation over an extended period of
  time) and growth of capital

Fund Literature

• Fund Fact Sheet
• Quarterly Investor Presentation

Prospectuses & Reports: Quick Link

SGDLX Investor Class

• SGDLX Investor Class - Statutory Prospectus
• SGDLX Investor Class - Summary Prospectus
• SGDLX Investor Class - Statement of Additional Information

SGDIX Institutional Class

• SGDIX Institutional Class - Statutory Prospectus
• SGDIX Institutional Class - Summary Prospectus
• SGDIX Institutional Class - Statement of Additional Information

Annual and Semi-Annual Reports

• Semi-Annual Report - Sprott Gold Equity Fund, June 30, 2023
• Annual Report - Sprott Gold Equity Fund, December 31, 2022
• Semi-Annual Report - Sprott Gold Equity Fund, June 30, 2022
• Annual Report - Sprott Gold Equity Fund, December 31, 2021
• Semi-Annual Report - Sprott Gold Equity Fund, June 30, 2021
• Annual Report - Sprott Gold Equity Fund, December 31, 2020
  (covering new fiscal year period ending 12/31/2020)
• Annual Report - Sprott Gold Equity Fund, October 31, 2020
  (covering old fiscal year period ending 10/31/2020)
• Semi-Annual Report - Sprott Gold Equity Fund, April 30, 2020
• Annual Report - Tocqueville Gold Fund, October 31, 2019
• Semi-Annual Report - Tocqueville Gold Fund, April 30, 2019

Quarterly Portfolio Holdings

• Portfolio Holdings, (Unaudited), December 31, 2023
• Portfolio Holdings, (Unaudited), September 30, 2023
• Portfolio Holdings, (Unaudited), June 30, 2023
• Portfolio Holdings, (Unaudited), March 31, 2023

New Account Forms for Direct Investment

• New Account Application
• IRA Transfer Form
• Coverdell Education Savings Account Application
• Entity Account Application