Level 9, 365 Little Collins Street, Melbourne, Victoria, 3000

Collins St Special Situation Fund No.2 (Gold and Precious Metals)

One of Australia's only specialist gold EQUITIES funds, Investing in local and global PRECIOUS METAL MINERS.

FUND CLOSED TO NEW INVESTMENT ON 15 APRIL 2025.
20260714 csssf2 gold irr chart

Past performance is not a reliable indicator of future performance.

Watch the April 2025 interview with our founders

Read our Thematic Overview (6 minute read)
As at 1 April 2025, our Gold Fund (Collins St Special Situation Fund No.2) had significantly outperformed both the VanEck Junior Gold Miners (GDXJ) and the Philadelphia Gold and Silver (XAU) indices since inception in April 2023. Past performance is not a reliable indicator of future performance. Return of capital is not guaranteed.

The Opportunity

Collins St Special Situation Fund No.2

In the 2023-2025 period, the medium term outlook for gold was compelling, being driven by an opportunistic combination of:

  • Increasing industrial application and institutional investment allocation;
  • Increased central bank buying activity driven by geo-political uncertainties; and
  • Reduced investment in exploration and organic growth in mining inventories.

Importantly, we identified a substantial disconnect between the price of gold and the price of selected listed gold stocks. This presented a medium term opportunity we believed to be compelling and which we sought to capitalise on through a deep value, high conviction investment mandate focussed exclusively on the global gold and precious metals sector.

Access our latest unit price
Contact Us

The Collins St Special Situation Fund No.2 is a wholesale fund that is currently closed to new investors

Collins St Special Situation Fund N0.2

Our Investment Criteria

  • Our preference was for:
  • Late stage exploration / early stage production.
  • Tier 1 jurisdictions (for both the asset and the exchange the stock is listed on).
  • Quality management teams that are aligned through equity ownership.
  • Strong balance sheets with net cash positions.
  • No gearing or derivatives within the Fund.

Collins St Special Situation Fund No.2

Fee Structure & Investment Term

Investment Term

We anticipate the Fund will have an investment term of ~3 years from inception (1 April 2023), however as the Fund is entirely outcome focussed it may be wound up (in full or in part) earlier should the investment thematic be realised sooner than expected. The Fund may be extended beyond the initial 3 year mark, however a liquidity event will be provided at the end of year 4 for those investors wishing to redeem. The Fund should be considered an illiquid investment that will not pay any cash distributions throughout the investment term (any distributable income will be reinvested as additional units each year).

Fee Structure

  • No fixed ongoing management fee.
  • No buy/sell spread for primary applications or at the end of term.
  • Performance fee of 25% +GST of the profits generated on the sale of assets upon distribution to investors.
  • 2% + GST Contribution fee (rebated against any future performance fees).

Access the Global Fund webinar slides

Access the complete presentation deck with portfolio insights and investment examples

Access the Global Fund Fact Sheet

Get instant online access to key fund features, metrics and performance

Access the Global Fund Information Memorandum

Get instant online access to complete fund details, investment strategy, and terms

Download the Information Memorandum

Download the White Paper

We anticipated the strong uranium market in 2017. Gold in 2019. Gold again in 2023. Find out what we think is next.

Download the latest investor presentation

Watch the ausbiz interview