I brought my gold exposure back up to 10% of gross assets. But instead of investing in the PMGOLD ETF I invested in the L1 Gold Fund. This is a hedge fund invested mostly in gold mining stocks. I am lumping this in with gold metal as the price of gold is the main driver of gold mining stocks. If the government's capital gains tax changes are implemented, it will be better to have a franked dividend paying fund instead of a gold metal ETF in my personal name.
I also sold some Regal Investment Fund (RF1.AX) and bought some more Pengana Private Equity (PE1.AX). Despite the success of the SpaceX IPO, which is its largest holding, it dropped sharply today! One possible reason is that Pengana is launching a new AI fund, Maybe some people are selling this to buy that?
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