Global Hard Assets FundGHAIX

  • Daily Price   as of 06/27/16

    $32.47 $-1.15 / -3.4%
  • Class I Details: GHAIX

    04/20/06 1.04%/1.00%
  • Hard Assets Commentary and Review: 1Q'16

    Current Outlook: 4Q'13

     1Q'16 Recap:

    In a dramatic reversal from the fourth quarter of 2015, Class A shares provided a total return for the first quarter of 11.18% (excluding sales charge). The Fund outperformed its commodity equities-based benchmark index, the Standard & Poor’s® (S&P) North American Natural Resources Sector Index (SPGINRTR), which returned 6.26% over the same period.  

    The first quarter of 2016 was marked by evidence across the commodities spectrum that supply really is reacting both to low prices and low investment, and that a degree of stability may be creeping into markets.  

    The quarter started with continuing concerns about growth in China and the U.S. In January and through early February, the market was more focused on financial than on economic concerns: about the Renminbi, further currency devaluations, and capital outflows from China. Although these appeared to have abated by the end of the quarter (amongst other factors, the U.S. dollar had rolled over, relieving pressure not only on China’s, but also on other currencies), economic concerns still remained, albeit drawing less of a focus. Not least, data started to come through during the quarter indicating not only that Chinese copper purchases for 2015 were at a record level, but so too were imports of crude oil.

    Negative interest rates and less confidence in the abilities of central banks led to gold becoming increasingly attractive during the quarter, particularly as a store of value, not least because it became cheaper to hold on a relative basis. As the price of the metal rose, gold miners benefited. With many of them now having “put their houses in order," they have been able to leverage a higher gold price and are now in a better spot than they have been at any time in the last four to five years.

    Read full 1Q Commentary »  


  • Video Viewpoint on Hard Assets: 4Q'11 Outlook

    Commodities Rebound Gaining Momentum

    Roland Morris
    Portfolio Manager and Strategist

    Roland Morris, Portfolio Manager and Strategist, gives his commodity outlook for the second half of 2016. Continued supply response and the Fed maintaining an accommodative policy will continue to provide support for commodities.

    View now »

    Navigating the Oil Market's Rebalancing

    Shawn Reynolds
    Portfolio Manager, Natural Resources Equity

    Shawn Reynolds, Portfolio Manager, Natural Resources Equity, discusses the short-term and long-term implications of cuts to oil supply in 2016 and beyond.

    View now »

    Commodities Show Signs of Recovery

    Roland Morris
    Commodities Strategist

    View now »

    Conventional versus Unconventional Energy

    Shawn Reynolds
    Portfolio Manager, Natural Resources Equity

    “We’re still working on the assessment and appraisal of where all these resources are. As the years go on, we've got hundreds and thousands of wells to drill into these shales and unconventional resources that will be more manufacturing-oriented.”

    View now »

    Commodities Poised to Rebound in 2016

    Roland Morris
    Commodities Strategist

    “Hidden behind the scenes is a very serious supply response to low prices occurring across several industries and sectors, especially the energy and industrial mining sectors.”

    View now »

    Technology and Innovation in Unconventional Energy

    Shawn Reynolds
    Portfolio Manager, Natural Resources Equity

    "The majors are still stuck in the old model, trying to drill in deep water in megaprojects, which we are now finding out don't work and didn't work with oil at $100 a barrel. While the independent E&P companies are now showing that they can be successful, drill great wells, and grow with oil at $30 a barrel."

    View now »

    Introduction to Oil Refiners and Crack Spreads

    Shawn Reynolds
    Portfolio Manager, Natural Resources Equity

    "Refiners differ quite a bit relative to many other sub-industries or other companies in the energy industry in that they are not entirely dependent on oil prices for their gains or losses."

    View now »

    CEO Jan van Eck: Take a Fresh Look at Oil

    Jan van Eck

    We now firmly believe that oil is in a bottoming process and this is a good time for investors to either market-weight oil or tactically add to targeted oil exposure.

    View now »

  • Hard Assets Defined: Foundation of Industrial Economies

    Hard Assets Defined

    “Hard assets” refers to the natural resources or commodities that are mined, exploited, harvested or otherwise procured globally. 

    Hard assets have traditionally been grouped into five broad categories:

    1) Energy  
    Oil, natural gas, electricity, coal, and new/renewable alternative energy sources

    2) Precious Metals  
    Gold, silver, palladium and platinum

    3) Base/Industrial Metals  
    Copper, aluminum, steel, iron and nickel

    4) Agriculture  
    Corn, wheat, sugar and water

    5) Forest Products  
    Timber, pulp and paper

  • Important Disclosure

    Unless otherwise stated, portfolio facts and statistics are shown for Class A shares; other classes may have different characteristics.

    NAV: Unless you are eligible for a waiver, the public offering price you pay when you buy Class A shares of the Fund is the Net Asset Value (NAV) of the shares plus an initial sales charge. The initial sales charge varies depending upon the size of your purchase. No sales charge is imposed where Class A or Class C shares are issued to you pursuant to the automatic investment of income dividends or capital gains distributions. It is the responsibility of the financial intermediary to ensure that the investor obtains the proper “breakpoint” discount. Class C, Class I and Class Y do not have an initial sales charge; however, Class C does charge a contingent deferred redemption charge. See the prospectus for more information.

    1Expenses are calculated for the 12-month period ending 05/01/16: Class A: Gross 1.36% and Net 1.36%; Class C: Gross 2.16% and Net 2.16%; Class I: Gross 1.04% and Net 1.00%; and Class Y: Gross 1.15% and Net 1.13%. Expenses are capped contractually through 05/01/17 at 1.38% for Class A; 2.20% for Class C; 1.00% for Class I; and 1.13% for Class Y. Caps exclude certain expenses, such as interest.

    2The S&P North American Natural Resources Sector (SPGINRTR) Index (the "Index") provides investors with a benchmark that represents U.S. traded securities that are classified under the GICS® energy and materials sector excluding the chemicals industry; and steel sub-industry. The MSCI ACWI Commodity Producers Index captures the global opportunity set of commodity producers in the energy, metal and agricultural sectors. All indices are unmanaged and include the reinvestment of all dividends, but do not reflect the payment of transaction costs, advisory fees or expenses that are associated with an investment in the Fund. An index’s performance is not illustrative of the Fund’s performance. Indices are not securities in which investments can be made.

    The views and opinions expressed are those of VanEck. Fund manager commentaries are general in nature and should not be construed as investment advice. Opinions are subject to change with market conditions. Any discussion of specific securities mentioned in the commentaries is neither an offer to sell nor a solicitation to buy these securities. Fund holdings will vary.

    You can lose money by investing in the Fund. Any investment in the Fund should be part of an overall investment program, not a complete program. The Fund is subject to risks associated with concentrating its investments in hard assets and the hard assets sector, including real estate, precious metals and natural resources, and can be significantly affected by events relating to these industries, including international political and economic developments, inflation, and other factors. The Fund’s portfolio securities may experience substantial price fluctuations as a result of these factors, and may move independently of the trends of industrialized companies. The Fund’s investments in foreign securities involve risks related to adverse political and economic developments unique to a country or a region, currency fluctuations or controls, and the possibility of arbitrary action by foreign governments, including the takeover of property without adequate compensation or imposition of prohibitive taxation. The Fund is subject to risks associated with investments in debt securities, derivatives, commodity-linked instruments, illiquid securities, asset-backed securities and CMOs. The Fund is also subject to inflation risk, short-sales risk, market risk, non-diversification risk, leverage risk, credit risk and counterparty risk. Please see the prospectus for information on these and other risk considerations.

    Investing involves risk, including possible loss of principal. An investor should consider investment objectives, risks, charges and expenses of the investment company carefully before investing. The prospectus and summary prospectus contain this and other information. Please read them carefully before investing.