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1 Sprott Asset Management, How Much Gold Should I Own?, 1 January 2025.
The portfolio holds physical gold and global-mining stocks in equal weights
Offers direct, low-cost exposure to the price of physical gold.
Gold ETFs offer a simpler and safer way to invest in physical gold without the hassle of dealing with storage and security.
GLDM stores its gold in secure vaults maintained by custodians ICBC Standard Bank and JPMorgan Chase Bank, ensuring institutional-grade protection and traceability.
The Fund provides diversified exposure to gold and commodity mining companies, with a substantial allocation to leading gold miners such as:
Gold+ portfolio underlying funds allocation. The portfolio maintains a 2% strategic cash allocation.
Source: UOBAM, as of 31 May 2025
The UOBAM Gold+ portfolio is built for investors seeking enhanced exposure to gold. It positions you to benefit from both rising gold prices and the growth potential of global mining stocks.
Combines the defensive strength of physical gold with the growth potential of leading gold‑mining companies.
Adds an asset class that moves independently of traditional equities and bonds, enhancing resilience in volatile markets and upside when cycles turn.
*All screens shown are for illustrations only.
Start with as little as S$1, making it easy to gain exposure to gold without large amounts of capital.
Zero advisory or platform charges and no withdrawal penalties—only the ongoing fund expenses embedded in each sleeve.
Gold prices are trending higher amid healthy investor interest and strong central bank demand.
Mining shares amplify gold exposure through company-level value creation and growth potential.
Gold+ is best suited for investors who:
Gold+ is designed for investors with a high-risk tolerance. Its return potential comes with elevated volatility and relatively long drawdowns, characteristics typical of tactical strategies.
Portfolio risk : Very Aggressive
About this portfolio
| Recommended horizon | At least 3 year |
| Minimum investment | From S$1 |
| Max drawdown* | -30.41% |
| Max drawdown duration** | 3.81 months |
* Max drawdown refers to the maximum observed loss from a peak to a trough of a portfolio, before a new peak is attained. It is an indicator of downside risk
over a specified time period.
** Max drawdown duration refers to the longest period of time between a peak value and a subsequent trough value for an investment, representing the
longest period of decline in value. It's a measure of how long an investment has been in a losing period before reaching its lowest point.
Source: Factset, UOBAM. Data from 31 May 2022 to 31 May 2025.
Fees & Charges
| Advisory fee | 0% |
| Platform charge | Free |
| Withdrawal fee | Free |
Investing in the underlying funds of Gold+ individually would typically incur platform and commission fees. But with Gold+, you enjoy no advisory fees, no platform charges, and no withdrawal fees.
Gold+ keeps fees as low as possible by using the SPDR Gold Minishares Trust (GLDM) for physical gold exposure. This ETF is one of the lowest-cost gold ETFs available1, which helps you keep more of your returns.
| ETF | Expense ratio | Total fees over 10 years on a $10,000 investment | Savings vs GLDM |
|---|---|---|---|
| SPDR Minishares Gold Trust (NYSE Arca: GLDM) |
0.10% | $100 | - |
| SPDR Gold Shares (NYSE Arca: GLD) |
0.40% | $400 | $300 |
| iShares Gold Trust (NYSE Arca: IAU) |
0.25% | $250 | $150 |
1 Source: SPDR, iShares, as of 31 May 2025. Calculations assume identical performance and no compounding effect from fees.
Note: Each fund in the Gold+ portfolio has its own embedded management fee, which is included in its Net Asset Value (NAV). NAV represents the price per unit of a fund and includes the costs of managing the fund. UOBAM uses fees earned from the United Gold & General Fund to offset execution and custodian costs for investments in the SPDR Minishares Gold Trust ETF. This enables us to offer the Gold+ portfolio with zero advisory fees.
Gold and global mining stocks have relatively low correlation with stocks, bonds, or other commodities. They can be used as a tactical allocation to enhance diversification and complement your broader investment strategy.
While gold and global mining stocks are more correlated, they don’t always rise or fall together. Differences in performance, driven by company results or market sentiment, can create opportunities for added diversification and potential upside.
| ETF | SPDR Minishares Gold Trust ETF | NYSE ARCA Gold Miners Index | MSCI ALL Country World Index | Bloomberg Global Aggregate Bond Index | Bloomberg Commodity Index |
|---|---|---|---|---|---|
| SPDR Minishares Gold Trust ETF | 1.00 | 0.88 | 0.20 | 0.51 | 0.16 |
| NYSE Arca Gold Miners Index | 0.88 | 1.00 | 0.35 | 0.55 | 0.23 |
Note: A perfect positive correlation means that the correlation coefficient is exactly 1. This implies that as one security moves, either up or down, the other security moves in lockstep, in the same direction. A perfect negative correlation means that two assets move in opposite directions, while a zero correlation implies no linear relationship at all.
Source: Bloomberg, as of 31 May 2025.
Explore diverse investment opportunities, all at your fingertips.
Rebalancing is conducted quarterly, on the last business day of January, April, July, and October. This ensures the portfolio maintains its target allocation.
UOBAM does not charge an advisory fee for the Gold+ portfolio. Investors instead bear the ongoing costs embedded in the two underlying funds: the United Gold & General Fund (UGGF) carries a 1.50% per annum management fee, while the SPDR Gold MiniShares Trust (GLDM) has a gross expense ratio of just 0.10%. These charges are built into each fund’s net asset value, so they flow through to your portfolio performance rather than appearing as separate line items. Moreover, any management fees UOBAM receives from UGGF are used to offset the execution and custodian costs associated with the GLDM sleeve, helping to keep the overall cost of Gold+ competitive.
You can start with a minimum of S$1.
Deposits into your Gold+ account are generally credited within one to three business days, while withdrawals take a little longer—typically five to eight business days—because the redemption proceeds are released only after all underlying fund trades have been settled.
No, the UOBAM Gold+ Portfolio does not distribute dividends. Any returns are reflected in the NAV appreciation of the portfolio.
Investors should assess their risk appetite and investment goals before committing.
Yes, you can view your portfolio performance through the UOBAM Invest app, which updates daily.
Yes, switching is allowed between UOBAM discretionary portfolios. However:
For more information on the list of awards won by UOBAM, visit https://www.uobam.com.sg/awards
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