Wealth group Ravenscroft has been building exposure to gold in client portfolios over the course of 2020, with CIO Kevin Boscher expecting the precious metal's value to grow further in sterling terms in the coming years, while offering a hedge against economic and geopolitical uncertainty.
The Channel Islands-based group, which has roughly £7.5bn in AUM, has been bolstering physical holdings of gold through its precious metals business and building up exposure to the Gold Bullion Securities ETF throughout the year. Ravenscroft's Boscher: There will be sunshine after the rain Gold has performed well against the backdrop of market turmoil seen in 2020, rising from roughly $1,500/oz at the start of the year to beyond $2,000/oz by early August. Speaking to Investment Week, Boscher said the outlook for gold "is positive, not just in the short term, but over longer term", ...
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