My Fund Comparison
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ASA Gold and Precious Metals Limited Reports Financial Results for the Three Months Ended February 29, 2012
ASA Gold and Precious Metals Limited
SAN MATEO, Calif.--(BUSINESS WIRE)--ASA Gold and Precious Metals Limited (NYSE:ASA) today reported that total return for the three months ended February 29, 2012, based on ASA?s net asset value (NAV), was a negative 5.7%. ASA's NAV outperformed the FTSE Gold Mine Index?s return of negative 7.9% during the quarter ended February 29, 2012. ASA?s portfolio invests in a number of platinum group metals producers, diversified mining companies and silver producers that are not represented within the FTSE Gold Mines Index.
Based on its share price, ASA reported a total return of negative 1.9% during the quarter. The NAV of the Company was $30.62 per share while the closing price of ASA?s shares on the New York Stock Exchange (NYSE) on February 29, 2012 was $28.30, representing a share price discount to NAV of 7.6%. The share price of closed-end funds, like ASA, is determined by trading activity in the open market and consequently may reflect a premium to (higher than) or discount to (lower than) its underlying NAV.
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Three months ended
February 29, 2012 |
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Three months ended
February 28, 2011 |
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Amount |
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Per Share |
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Amount |
|
Per Share |
|
Net assets |
|
$ |
590,685,537 |
|
|
$ |
30.62 |
|
|
$ |
668,786,769 |
|
|
$ |
34.40 |
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Net investment income (loss) (1) |
|
$ |
(503,155 |
) |
|
$ |
(0.03 |
) |
|
$ |
(696,578 |
) |
|
$ |
(0.04 |
) |
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Ending shares outstanding |
|
|
19,289,905 |
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|
|
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19,440,000 |
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(1) Excludes the following items: |
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Net realized gain from investments (including realized loss on investments from foreign currency transactions) |
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$ |
2,896,477 |
|
|
$ |
0.15 |
|
|
$ |
2,508,469 |
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|
$ |
0.13 |
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Other net realized gain (loss) |
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$ |
(2,932 |
) |
|
$ |
(0.00 |
) |
|
$ |
171 |
|
|
$ |
0.00 |
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Net increase (decrease) in unrealized appreciation on investments |
|
$ |
(37,784,878 |
) |
|
$ |
(1.96 |
) |
|
$ |
(2,658,156 |
) |
|
$ |
(0.14 |
) |
Established in 1958, ASA Gold and Precious Metals Limited is a closed-end fund that invests in the securities of mining companies engaged in the exploration, mining or processing of gold, silver, platinum, diamonds or other precious minerals. The Company?s wholly-owned investment adviser was established to manage precious metals investment portfolios for foundations, endowments and other institutional investors.
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