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Sell URNM and ETPMPM
Market Outlook and Cash Positioning:
The broader market continues to exhibit signs of weakness, with ongoing sell-offs contributing to heightened uncertainty. In response, we have increased our cash holdings to maintain flexibility. This strategic cash reserve will enable us to respond promptly to emerging opportunities and reallocate to our core holdings once market conditions stabilize.
Divestment of Sprott Uranium Miners ETF (URNM):
We have fully exited our 5% position in the Sprott Uranium Miners ETF (URNM). This decision is driven by the ETF’s underperformance, influenced by:
Sector-Wide Sell-Off: Uranium equities have been adversely affected by the broader market downturn, particularly the sell-off in technology stocks.
Geopolitical Uncertainties: The enactment of the Prohibiting Russian Uranium Imports Act in May 2024 has introduced complexities in the uranium market, affecting supply chains and investor sentiment.
Profit-Taking in Global X Physical Precious Metals Basket (ETPMPM):
Our 8% allocation to the Global X Physical Precious Metals Basket (ETPMPM) has performed robustly over the past month. To capitalize on these gains, we have partially reduced our position, thereby securing profits and increasing our cash reserves.
Summary of Actions:
Sell: 5% holding in Sprott Uranium Miners ETF (URNM).
Sell: 8% in Global X Physical Precious Metals Basket (ETPMPM).
Increased: Cash reserves to enhance portfolio flexibility amid current market volatility.
Disclaimer: The recommendation given is general advice only. It does not take into account your personal objectives, financial situation, or specific needs. This information should not be your sole resource when making such decisions. We strongly recommend you to seek the advice of financial, taxation, and legal professionals before finalising any investment decisions.
