AuAg Silver Bullet

"EUROPE'S RISKIEST FUND"

Overview

Invest in silver with AuAg Silver Bullet

The term "silver bullet" is a seemingly simple, or magical, solution to a difficult problem. With its unique properties, silver is part of the solution in the transition to a sound world, and a sound financial system. With their low correlation to the broad stock market, silver miners are truly the perfect solution in creating an optimal risk/reward portfolio.AuAg Silver Bullet is a UCITS fund and consists of a portfolio of 25-30 focused silver mining companies, with high volatility, and high return potential.

A silver thread runs through all high-tech

Solar panels, electric vehicles, semiconductors, medical devices… Silver is in all of them. And where it could be replaced by cheaper materials, industry already has done so. What remains are the applications where nothing else performs well enough.

Silver's superior conductivity, thermal performance, and antibacterial properties makes it irreplaceable in the high-tech applications that are defining our future. This creates the foundation for structural long-term demand. There is no substitute for silver.

Silver faces a structural supply deficit

The silver market has now recorded five consecutive years of supply deficits, with demand consistently outpacing what miners can produce. New silver mines take many years (often up towards 20 years) to bring into production, meaning supply cannot respond quickly to rising demand. When supply persistently can’t meet growing demand, the result is typically upward pressure on prices — creating a compelling long-term backdrop for silver.

Miners to outperform the metal itself

When silver prices rise, the miners are positioned to rise even more over time. Since their costs are largely fixed, every extra dollar in the silver price flows almost directly into profit. This operational leverage means a relatively small move in silver can translate into a much larger move in the miners. By owning the companies behind the metal, investors get leveraged exposure to the silver price.

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AuAg Silver Bullet B (EUR)
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NAV

Net Asset Value per share for the selected share class.

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MTD

Month-to-date return. Shows the fund's performance from the start of the current month until the latest available NAV.

YTD

Year-to-date return. Shows the fund's performance from the start of the current year until the latest available NAV.

MAX

Total return since inception. Calculated using NAV for the selected share class.

Performance

Performance is shown as total return based on NAV.

Historical fund performance based on NAV.

Holdings

Market data may be delayed by up to 15 minutes.

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Clarifications

The fund is traded daily and follows the UCITS (5/10/40) framework. Holdings are divided into five categories. Cat1: 4 holdings at 8%, Cat2: 10-14 at 4%, Cat3&4: 8-12 at 2/1%, Cat5: Cash & CM-holdings. All holdings are allowed to be within +/-25% of target weight. Holdings may be moved between categories or replaced fully. All holdings are traded at the most liquid markets (approximately 90% US and 10% Global exUS). Benchmark is XXAU (PHLX Gold/Silver Sector Total Return = XAU including dividends) in the funds trading currency (class A = SEK).

Monthly returns

Monthly total returns based on NAV for the selected share class. Each value represents the percentage change compared to the previous month.

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Information

More about AuAg Silver Bullet

In accordance with the fund’s overall strategy, the fund invests at least 90 per cent in transferable securities and fund units whose value development the managers deems to be affected by the market development for silver and gold.

Portfolio Manager
Eric Strand

Portfolio Management Team
Eric Strand

Christopher Svensson

Stefan Abrahamsson

Investment summary

Inception date
04/11/2019
Management fee
1,40%
Total Expense Ratio
1,46%
Assets Under Management
EUR 563 000 000
Sustainability SFDR
Article 8

Statistics

Risk rating PRIIP
6 of 7
Annualised volatility
46,01%
Correlation vs. SX5R (EUR)
0,27
Compound ROR
25,34%
Data as of 30/05/2026

Disclaimer

This material is marketing communication. The information does not constitute investment advice or a personal recommendation. Investment decisions should be based on the fund’s information brochure and fact sheet, as well as your own considerations. Investments involve risk. Past performance is not a guarantee of future returns. The money invested in the fund may both increase and decrease in value, and it is not certain that you will recover the entire amount invested. Before making an investment decision, you should review the fund’s information brochure and fact sheet.

A short video where the fund manager, Eric Strand, talks about the idea behind AuAg Silver Bullet.

Documents

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FAQ

Common questions from investors

Silver is a metal with strong investment fundamentals due to its unique dual properties. Silver is the only commodity with both monetary and industrial properties, creating dual demand from both investors and industry. The metal has the best conductivity of all metals for both heat and electricity, making it essential for green-tech solutions like solar panels and electric vehicles. With low correlation to the broad stock market, silver miners offer the perfect solution for creating an optimal risk/reward portfolio. AuAg Silver Bullet provides exposure to 25-30 focused silver mining companies with high return potential.

AuAg Silver Bullet offers a simple way to invest in silver through a diversified portfolio of 25-30 focused silver mining companies. The fund is traded daily and follows the UCITS framework for investor protection. Holdings are strategically divided into five categories with different weightings (ranging from 8% to 1%). This provides exposure to silver's growth potential driven by megatrends such as monetary inflation and electrification.

Silver offers unique advantages compared to gold because it's the only commodity with both monetary and industrial properties. While gold is primarily a monetary asset, silver has dual demand from both investors and industry. Silver is essential for the electrification of our world and is used in solar panels and EVs due to its superior conductivity properties. AuAg Silver Bullet invests in companies affected by both silver and gold market development, with special emphasis on silver mining companies.

While physical silver coins and bullion are traditional options, investing in the fund AuAg Silver Bullet offers several advantages: professional portfolio management, daily liquidity, diversification across 25-30 silver mining companies, and no storage concerns. The fund captures silver's upside potential through companies extracting the metal, benefiting from both rising silver prices and operational leverage of miners. With over 60,000 investors across Europe already investing with AuAg Funds, this represents a modern, accessible approach to silver investment.

The silver-gold relationship is an important indicator of when gold is over valued in comparison to silver and vice versa. When the gold-silver ratio is relatively high it can be a good idea to buy more silver and less gold. For investors that want exposure to these metals AuAg Silver Bullet is a good alternative for investors that seek silver exposure, and AuAg Gold Rush is a good alternative for those seeking gold investments. The funds are daily traded so investors easily can buy more based on the gold silver ratio.