Top Precious Metals Equity Funds

• By Zacks Equity Research
• On 2:23 pm EDT, Thursday October 8, 2009

Today we are featuring top-performing “Precious Metals" equity mutual funds, which primarily invest in equity securities companies that are involved in mining of gold and other precious metals. Investors can find such funds by checking out the entire list of the Zacks #1 Rank Precious Metals Equity Funds.

3 Precious Picks

First Eagle Gold Fund A (NASDAQ: SGGDX - News) was incepted in October 1993. The investment seeks capital appreciation.

The fund primarily invests in gold and securities directly related to gold or securities of companies engaged in mining, processing, dealing in or holding gold, both in the United States and in foreign countries. It invests at least 80% of assets in securities of companies directly related to gold or of issuers principally engaged in the gold industry.

The fund has an expense ratio of 1.24%. As of April 30, 2009, its portfolio turnover was 1.86%. The fund distributes dividends and capital gains annually.

PIA OCM Gold Fund (NASDAQ: OCMGX - News) seeks long-term growth of capital. The fund was incepted in February 1988.

Typically, the fund invests in equity securities of domestic and foreign companies engaged in activities related to gold and precious metals. Goldcorp Incorporated and Agnico-Eagle Mines Limited are among its major holdings.

Greg Orrell has been lead manager of the fund since February 1998. The fund has an expense ratio of 2.14%.

USAA Precious Metals and Minerals (NASDAQ: USAGX - News) seeks long-term capital appreciation. The investment has a secondary goal of current income.

The fund invests at least 80% of its assets in equity securities of domestic and foreign companies principally engaged in the exploration, mining, or processing of gold and other precious metals and minerals. Unit holders have to make a minimum initial investment of $3,000 to enter this Zacks#1 Rank (“Strong Buy) fund. It has an expense ratio of 1.31%.

Mark Johnson has been lead manager of the fund since January 1994. Johnson is a Chartered Financial Analyst and was previously, Vice President of the trust investment department of Old Kent Bank & Trust Company. As of May 31, 2009, the funds portfolio turnover was 28%.

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