Opinions
David Dietze
ASA Ltd.
ASA-N
TOP PICK
Apr 27, 2018
$10.800
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He typically avoids mutual funds and prefers individual stocks, but as a closed-end fund, this has a limited number of securities. It is a basket of the gold miners. Owning gold in this environment with the heightened geopolitical risks, prepares your portfolio for the unexpected. Owning gold miners makes a lot of sense. As a closed-end fund, there are limited shares, and the fund will move up and down at a premium or discount to its NAV. Right now, this is trading at a 9% discount to its NAV. Closed end funds uses leverage to enhance its value, but this fund does not use any leverage.
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With gold prices having retreated and with inflation in the air, gold is a great hedge for all the “what ifs” out there. This fund holds 35 different blue chips and the fund is currently trading at a 15% discount to the NAV of the holdings within it.