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🎥 Watch the full video here
In late 2024, shifting macro forces reshaped client conversations as advisers reassessed how to position HNW portfolios. With geopolitical risk rising, de-dollarisation accelerating, and global debt concerns resurfacing, many investors questioned whether equity markets could continue absorbing mounting uncertainty.
“We were seeing patterns that reminded me of past cycles. De-dollarization, the spiralling US debt, the printing of money… all of it pointed to a return to real assets.”
On the back of renewed investor demand, rising geopolitical tensions, and shifting rate expectations, precious metals markets emerged as one of the most compelling themes in global markets. Up until September, Gold had surged more than 34% YTD, while silver had climbed nearly 40% YTD.
Yet advisers faced a dilemma:
How do you participate in a fast-moving metals rally without taking full downside risk or deploying large amounts of capital?
High Conviction, and uncertainty on Entry
With conviction in the precious-metals theme but no uncertainty where/how to enter clear path to enter, the adviser was left weighing two imperfect options:
- Stay defensive in cash or bonds, and risk missing a continuation of the gold and silver rally.
- Increase exposure directly through metal ETFs or mining equities, But absorb full downside risk in markets showing sharp intraday volatility.
Silver, in particular, was trading with wide swings and unpredictable corrections. As the adviser put it:
“The volatility in silver made buying the break feel like a fool’s game at times.”
The Adviser needed a way to:
- Enter a strong global macro theme
- Reduce timing risk
- Limit capital at risk.
- Reduce the full volatility of precious metals.
- Gain meaningful exposure whilst remaining capital efficient.
This is precisely where a leveraged, capital-efficient Enhanced Growth Note becomes an effective solution for HNW portfolios.
The solution: Enhanced Growth Note on Gold and Silver
The adviser partnered with Stropro’s Investment Desk to structure an Enhanced Growth Note over a worst-of basket of:
- SPDR Gold Shares (GLD)
- Silver Spot (XAGUSD)
This structure offered 10× leverage — giving clients meaningful metals exposure while limiting downside to not more than their initial capital outlay.
This approach allowed advisers to pursue a conviction view in precious metals with:
- limited capital at risk
- defined downside
- amplified upside
- reduced sensitivity to short-term volatility
- Exposure in AUD to remove currency risk
The Outcome — 313% Return Driven by a 45% Move in Precious Metals
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By capturing a 45% increase in the worst-performing metal, the Enhanced Growth Note delivered a 313% return on capital within 12 months.
This is the essence of capital-efficient, leveraged structured growth strategies: participation in major market themes without overexposing client capital.
As the adviser noted:
“What the clients really loved was that they knew exactly where they stood. That 10% of notional was the most they could lose. Knowing your downside gives you far more confidence — it enables you to do more.”
Performance Comparison — Direct Investment vs Enhanced Growth Strategy
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The comparison between direct EFT investments and structured investments highlights:
- The amplified upside of leveraged structured investments
- The limited downside (max loss = initial capital)
- The ability to access macro themes efficiently without overcommitting capital and currency risk
Advisers increasingly use Enhanced Growth solutions to gain tactical exposure across commodities, equities, indices, and thematic baskets — especially in volatile environments.
Watch the full discussion on why the Adviser Chose an Enhanced Growth Note for Precious Metals
Why Enhanced Growth Notes for High-Net-Worth Clients
1. Capital-efficient exposure:
10× leverage transformed a $100k allocation into $1m of metals exposure.
2. Defined downside:
Clients could only lose the initial capital. No margin calls. No open-ended risk.
3. Volatility management:
The worst-of basket still captured the macro theme without requiring perfect market timing. Some Advisers choose to include defensive features to reduce timing or sequencing risk by sacrificing exposure by 2-3%.
4. Portfolio flexibility:
Clients maintained liquidity across the rest of the portfolio.
5. Strong alignment with HNW investor preferences:
Outcome-oriented, thematic, and personalised
Explore Enhanced Growth Strategies for Precious Metals or Other Thematics
Stropro structures bespoke Enhanced Growth Notes across:
- commodities (gold, silver, copper, energy baskets)
- global equity indices
- megatrend themes
- single-stock exposures
- multi-asset baskets
If you have a view — macro, thematic, or tactical — we invite you to book a consultation with our team to design a capital-efficient growth strategy around it.
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