The DJE - Gold & Resources fund offers investors access to one of today's most exciting asset classes: the global markets for gold and commodity companies. Since its launch in 2003, the fund has invested primarily in international companies that mine, process or market gold, supplemented by companies from other commodity sectors such as base metals, energy or agricultural commodities. This allows investors to participate in the opportunities offered by precious metals and at the same time benefit from a broader diversification in the commodities sector. At least 30% of the fund's assets are always invested in gold mining stocks, often significantly more in phases of high precious metal prices.
Strong market conditions for gold mining stocks
Gold mining stocks performed dynamically in 2025: While the gold price in euros has risen by around twelve percent since the beginning of the year, the HUI gold mining index has recorded a gain of over 50%. The main reason for this is the industry's strong cash flow generation. With gold prices well above USD 3,000 per troy ounce, producers such as Newmont, Agnico Eagle and Kinross are generating high cash inflows and improving their balance sheets as a result. This development opens up scope for debt repayment, dividends and share buybacks - factors that make the sector even more attractive from an investor's perspective.
Flexible and active management
The management of DJE - Gold & Resources pursues an active, index-independent approach. Stocks are selected in a targeted manner and reviewed on an ongoing basis, with fundamental key figures, market trends and geopolitical developments playing a central role. Fund managers Stefan Breintner and Manuel Zeuch benefit from decades of expertise in the commodities sector and a dense network of company contacts. By adding oil, gas or base metal producers, the fund can cushion fluctuations that would be much more pronounced in pure gold mining funds.
Opportunities and challenges in the fund
Gold is traditionally regarded as a safe haven in uncertain times - and the geopolitical and economic conditions currently suggest that demand will remain high. At the same time, the sector is challenging: many producers have repeatedly missed their production and cost forecasts in the past, which has weighed on investor confidence. Political risks in important production regions such as Mali and Ghana add to this. Positive exceptions are companies such as Agnico Eagle, which stands out due to its stable production development and high forecasting accuracy.
Portfolio structure and diversification
The largest positions in DJE - Gold & Resources currently include international industry giants such as Wheaton Precious Metals, Agnico Eagle Mines and Newmont. The regional focus is on North America, supplemented by holdings in Australia, the UK and selected emerging markets. Through this broad diversification, the fund aims to exploit opportunities and manage risks in a balanced manner. In addition to precious metals, energy and chemical stocks can also deliver anti-cyclical returns - an important stability factor.
Awards and key figures
With a fund volume of over 110 million euros and the Lipper Fund Award 2025, DJE - Gold & Resources has recently provided impressive proof of its strength. The fund makes regular distributions and is suitable as a targeted thematic addition to broad-based portfolios.
Conclusion
DJE - Gold & Ressourcen offers the opportunity to benefit from the upswing in precious metals and commodities without investing directly in physical gold. Thanks to active management, flexible control and a clear focus on gold and mining stocks, the fund opens up opportunities in a dynamic market environment. It is an attractive option for investors who want to add a promising addition to their portfolio to participate in the commodities markets.
Legal information
This is a marketing advertisement. Please read the prospectus of the fund in question and the PRIIPs KID before making a final investment decision. This also contains detailed information on opportunities and risks. These documents are available free of charge in German at www.dje.de under the fund in question. A summary of investor rights is available free of charge in German in electronic form on the website at www.dje.de/de/zusammenfassung-der-anlegerrechte. All information published here is for your information only, is subject to change at any time and does not constitute investment advice or any other recommendation. The statements contained in this document reflect the current assessment of DJE Kapital AG. The opinions expressed may change at any time without prior notice. All information in this overview has been compiled with due care in accordance with the state of knowledge at the time of preparation. However, no guarantee and no liability can be assumed for the accuracy and completeness.