The Foundation of the financier George Soros’s Soros Fund Management announced on the website of the us stock market regulator SEC quarterly data on its investment. From documents follows, that the Fund out of U.S. securities, buying up the shares in the companies, or otherwise working with precious metals.
Overall, from January to March 2016 the value of the disclosed assets of the Soros Foundation (that is, traded on the stock exchange and necessarily referred to in the SEC filings) fell by 37%, to $3.5 billion. for Example, the businessman completely out of Telecom giant Level 3 Communications (December 31, he owned shares in the amount of $173 million) and chemical concern Dow Chemicals (owned securities $161 million).
While Soros bought nearly 20 million shares of canadian mining company Barrick Gold, which is one of the leading gold producers in the world. For Soros it was a good investment: according to the stock exchange NYSE, where trading firm, quotes Barrick Gold since the beginning of the year steadily increased. In the end, from 1 January to date, the firm’s shares rose in price by 2.5 times.
The same Soros investment in Barrick Gold on March 31 was estimated at $263 million is the largest of its asset traded on the American stock exchange. In addition, from the publication of the SEC it is known that the Soros Foundation since the beginning of the year purchased option-call of 1.05 million shares, the market value of about $123 million) company SPDR Gold Trust. This exchange-traded Fund that is a trust, whose shares are 100% backed by gold, namely their own inventory.
Those stocks have a lot SPDR: as at the end of 2015 the Fund held in the vaults of a little less than 700 tons of gold bullion. This is comparable to the level of the Netherlands and only half the level of gold reserves of Russia. SPDR was the largest private zolotokrylin.
According to the Agency Bloomberg, many other businesses are beginning to shift assets out of stock in stock paper with gold backing. So, the attitude of Soros to gold shares and his former assistant, fellow billionaire Stan Druckenmiller. In early may, at the investment conference in new York he called the largest gold as a “currency investment” in an era of low interest rates of the Central Bank.
The other investment Fund, Glenview Capital Management, like the Soros Foundation, also gets rid of the exchange of shares. The volume of such investments had fallen in January—March, up 22%, to $13.6 billion.
During the first quarter of 2016, the price per Troy ounce of gold grew by 16%, which is the largest quarterly growth rate since 1986. Accordingly, gold is for investors the most attractive asset.
When at the end of 2012 gold was losing in value, Soros was one of the first more than half have reduced their investment in this precious metal. In six months the value of an ounce has fallen from about $1,700 to about $1200, then another two years slowly declined, reaching a low of $1049 in mid-December 2015. After that gold again began to rise in price, now give an ounce to $1276.