Cqs Natural Resources Gr... Share Discussion Threads

[shavian] 19/6/2013 08:12

Discount narrowing a bit, share price up despite a fall in NAV. Sentiment beginning to turn?

[davebowler] 08/2/2013 16:48

Could be good for our holdings;
Seymour Pierce;Why Silver is the best asset.

[shavian] 23/1/2013 23:19

Discount closing fast. Anyone else awake?

[shavian] 04/12/2012 22:49

We like double bottoms...

[davebowler] 05/10/2012 11:40

re.

Why would anyone convert their CULS this early?

[davebowler] 17/9/2012 13:28

Rare Earths jumping;

[shavian] 14/9/2012 11:01

And this one is trading at a nice discount

[1nf3rn0] 14/9/2012 10:35

QE3 should make this a good time to buy a resource fund.

[davebowler] 23/8/2012 10:14

21 Aug NAV
Basic 252.92

[davebowler] 07/8/2012 11:42

3 Aug NAV Pence per Share 245.97

[davebowler] 30/7/2012 10:06

Investec Fund Focus

Gold

¢ With concern over Europe causing increased swings in sentiment over the last two weeks, we take a look at Gold, which has served investors well during volatility over the past couple of years. With further intervention from the authorities looking more likely in Europe, we could see gold break out of its current range. With this in mind, there is an interesting picture developing as the spot price of Gold has been moving in an increasingly narrow range since last September. Looking at the Daily Chart I, we can see this increasingly narrow trading range.

¢ Furthermore, since the beginning of March the daily correlation between the spot price of gold and the FTSE 100 is actually positive, albeit marginally at 0.02, compared to the one year correlation of -0.37. This is in contrast to the MSCI World Index, which retains its negative correlation at -0.06 since the beginning of March and over one year is at a more negative -0.57. The longer term correlation over five years is also negative at -0.15 against the FTSE 100, while the MSCI World also has a negative correlation of -0.10.

¢ Looking at the Daily Chart II, we see that the negative correlation looks to be stronger when there are larger volatility events. This is seen in the corrections of August 2011 and to a smaller degree in April 2010, while the falls of May 2012 produced less of a reaction in the price of gold. During quieter periods the price of gold has stayed flat or climbed at a slower pace.



ETF/ETCs

These instruments provide an easy way to gain access to physical gold with the two ETCs below providing direct liquid access in a physically backed form.

ETFS Physical Gold (PHAU)

¢ PHAU is designed to offer investors a simple, cost-efficient and secure way to access the precious metals market and is intended to provide investors with a return equivalent to movements in the gold spot price less fees.

ETFS Physical Gold £ (PHGP)

¢ PHGP is the same as PHAU but is instead denominated in GBP.



CEF gold investors:

The CEF Universe also provides some exposure to gold, although much of it is through equity stakes in miners and may not provide much, if any, protection from market falls. The notable exception to this is Personal Assets, which has a very defensive profile.

¢ Purer plays with high gold exposures include Golden Prospect (GPM) and El Oro (ELX), both obvious ways to play the gold equities story, El Oro has much of its portfolio invested in junior explorers, as well as established miners. Golden Prospect is more concentrated in its approach.

¢ City Natural Resources High Yield (CYN) has a 25% exposure to Gold

¢ Polo Resources (POL)'s largest investment, accounting for 18.5% of NAV, is Nimini Holdings, a gold explorer, which recently announced a 374% increase in indicated gold resource.

¢ Blackrock World Mining Trust (BRWM) has a 9.4% exposure to gold.

¢ Blackrock Commodities Income (BRCI) has the smallest exposure to gold of the resources focused funds at 5.3%.

¢ Personal Assets (PNL) is not a pure mining/resources fund but has a high weighting to physical gold, which stands at 15.2%, setting it apart from many other funds which have exposure to gold producers and miners. The rest of PNL's portfolio is allocated towards equities (56.2%) and Fixed Interest (30.6%) and is currently trading at a premium of 1.2%.

[davebowler] 22/5/2012 10:51

Rare Earth Metals video;

[rbf] 24/2/2012 09:50

Nice move up in NAV - 338p 22 Feb compared with 326p 17 Feb

Hopefully the start of material improvement......

[davebowler] 13/2/2012 12:49

NAV per ordinary share as at the close of business on 8 February 2012:


Pence 331.43

[glentimon] 19/1/2012 17:49

Thought I'd pass this on, I was alerted when BRWM started rising on 20th December.
I had already bought some, but then decided to buy CYN, and lo and behold 10 days later CYN followed suit. Interesting that the minnow took 10 days to follow the big boy up (of course it might have simply been a result of seasonal holidays), but might bear that in mind in future, and a leading indicator.

[davebowler] 14/12/2011 12:12

Activist seeks to reduce discount on rival trust;

[davebowler] 07/12/2011 10:57

The NAV per ordinary share as at the close of business on 2 December was 313.68

[davebowler] 01/12/2011 15:23

Specialist Winner:

City Natural Resources High Yield

[1nf3rn0] 30/11/2011 15:21

A good time to top up in CYN?