Resolute managers got a lot of press and attention 20+ years ago with some absolutely stellar returns, and the managers' fight with the OSC so that they would not need to disclose what they owned. Some years were stunning. The fund changed its stripes because of the disclosure issue, but continues to chug along. Still, performance is not what it used to be. Fifteen year is still a very decent 12.3%. But, the fund has been known to essentially make 'bets'. It made huge gains one year with an 'all in' uranium bet, and similarly with natural gas stocks many years back. It is certainly having a good 2024, up 20.2% YTD. But volatility is extreme. We are a bit skeptical, as 'bets' of course can pay off big at times. But having 100% fund exposure in one sector is just that--a bet--and not really a portfolio. Still, its performance has not been correlated to most markets, the manager has been at it a very long time, and as long as investors know what they are getting into we would consider it OK.
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