CMP GOLD TRUST
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Last Trade:
Quotes delayed 15 mins.
Weekly Valuation as of August 22, 2008
| Net Asset Value: |
$7.86
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| Market Price: |
$5.29
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| Premium / Discount: |
-32.70% |
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Managers:
Ned Goodman
Ned Goodman is the Executive Chairman of Dundee Resources and Chairman of DundeeWealth
Inc. and certain limited partnerships in the CMP Group and Canada Dominion Resources
Group.
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Murray John
Murray John is the President and Chief Executive Officer of Dundee Resources and
the President of certain limited partnerships within the CMP Group and the Canada
Dominion Resources Group.
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INVESTMENT OBJECTIVE:
The Trust's investment objective is to provide unitholders with inflation protection,
capital preservation and long-term capital appreciation through investment in the
Portfolio consisting of precious metals and the securities of precious metals issuers,
minerals issuers and minerals related issuers.
RATIONALE FOR THE TRUST:
The Manager believes that the Trust offers an attractive investment opportunity
based on its expectations that:
- Gold (and other precious metals) will appreciate for an extended period of time;
- The Portfolio will benefit from appreciating prices of both bullion and precious
metals issuers;
- Investment in issuers engaged in exploration and development activities will enhance
Portfolio returns as new discoveries and the commercialization of new mining projects
offer long-term investors opportunities for capital appreciation;
- The rigorous due diligence process of the Manager will reduce the risk associated
with investments in issuers engaged in early-stage exploration and development activities;
- The non-redeemable nature of the Trust Units will enable the Trust to remain fully
invested and also allow the Manager to make investments in illiquid securities and
capitalize on merchant banking opportunities; and
- The inclusion of minerals issuers in the Portfolio will enhance diversification
and provide access to additional investment opportunities.
INVESTMENT HIGHLIGHTS & STRATEGY:
- The Trust's investment objective is to provide unitholders with inflation protection,
capital preservation and potential for long-term capital appreciation
- At least 75% (based on cost) of the Trust's total assets (other than cash and cash
equivalents) will initially be invested in precious metals and securities of precious
metals issuers (with a focus on gold)
- Actively managed investment strategies intended to enhance returns, reduce risks
and allow the Manager to take advantage of investments in illiquid securities and
merchant banking opportunities
- Diversify Portfolio among precious metals, and securities of precious metals issuers
minerals issuers and minerals related issuers
- Diversify Portfolio amongst junior, intermediate and senior issuers engaged in varying
stages of exploration, development and production; different countries; securities
of public and private issuers, including flow-through shares and illiquid securities;
and merchant banking opportunities
- Make investments in flow-through shares to reduce taxation to unitholders
- Ability to borrow (leverage) up to 25% of the Trust's NAV
- Ability to take short sale positions in respect of securities listed on a recognized
stock exchange provided the aggregate value (determined at cost) of all such securities
does not exceed 50% of NAV
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