Stewart's play on gold miners finally shines for £6bn fund

Newton's Iain Stewart is finally reaping the rewards of a move into gold miners following a strong rally in recent weeks.

Stewart, who manages the £6.3bn Newton Real Return fund, holds around 7% of his fund in gold miners, alongside a smaller position in gold ETFs, having invested early last year. Gold miners have struggled for much of 2012, enduring a sell-off in May which saw the FTSE Gold Mines Index fall over 20%. However, they have climbed sharply off lows since then, and jumped once more last month, with announcements of further monetary easing from both European and US politicians breathing new life into the trade. Stewart has favoured gold miners since early 2011 after they started to lag behi...