Investor Gold FIZ
Investor Gold FIZ, a closed-end fund, has been in operation since September 2006. It was established without a set termination date and has been quoted on the Warsaw Stock Exchange since January 2007.
Net Asset Value |
Profit since Sep.24 2006 |
||
| PLN | 118 344 467 |
110% |
|
| EURO* | 28 545 629 |
102% |
|
| USD* | 34 862 566 |
93% |
* average NBP exchange rate of 30 June 2010: 1 EURO = 4.1458 PLN; 1 USD = 3.3946 PLN
average NBP exchange rate of 24 September 2006: 1 EURO = 3.9715 PLN; 1 USD = 3.1065 PLN
The Investor Gold FIZ fund offers an opportunity to invest in precious metal. The strategy is based around a permanent exposure to the market of precious metals, predominantly gold. The size of that exposure is regulated, depending on market trends.
| Polish Funds | Profit (PLN)* |
|---|---|
| Investor Gold FIZ | 110,43% |
source: www.wp.pl
Performance: 2006-09-30 - 2010-06-30, Investor Gold FIZ from 2006-09-24 (first issue)
* excluded upfront fee and taxes
Financial instruments
Standardized derivative instruments, the price of which directly or indirectly depends on the market price of gold, silver, platinum and palladium, are the mainstay of this fund's portfolio.
Additionally, the fund assets may be invested in shares of companies involved in prospecting, developing, and harnessing deposits of precious metals and poly-metallic deposits, in which gold, silver, platinum and palladium constitute a major part.
Investment strategy
The investment strategy allows expansion of the exposure to a maximum level of 200% of the Net Asset Value (NAV). In practice, during a good economic trend the exposure is increased to the level of approx. 120% of NAV as the market value of the possessed instruments may be even larger.
Geographic diversification
Investor Gold FIZ predominantly invests in assets outside of Poland. Derivatives are mainly quoted on the Stock Exchanges in the United States, whereas the shares of raw material companies are mainly quoted on the Stock Exchanges in London and Toronto
Hedging against currency risk
The fund invests in currency risk hedging contracts, thus limiting the risk of unfavourable changes in the value of the Polish zloty with respect to other currencies in which investments are made.
Portfolio managers
The portfolio managers of Investor Gold FIZ are excellently qualified, as confirmed by many years of experience and outstanding fund management performance. The managers of the Investor Gold FIZ fund are simultaneously co-owners of Investors TFI (the fund management company) and also have their own money invested in the Investor Gold FIZ fund. The fees of the fund management company depend upon the fund's good performance, which bears excellent testimony to the long-term investment strategy.
