Why Vanguard likes BHP

The out-of-favour mining conglomerate finds a supporter in a top performing fund.

Summary:  Jamie Horvat, co-manager of Vanguard Precious Metals & Mining, doesn’t really care where the price of gold is heading. That’s because the fund isn’t a pure play on the price of gold, or even gold miners. While three quarters of the fund is in precious metals miners, the remainder is made up of diversified base-metals miners – such as BHP – to minimise volatility.

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