Golden Prospect Precious Metals published its annual report for the year ended 31 December 2014 yesterday. it says much about the fund’s performance that it doesn’t get a mention in the Chairman’s statement and is a throw away last line in the manager’s report “The fund NAV ended the year at 31p, a decline of 20%, compared to the GDXJ and GDX ETF’s ended the year down 18% and 7% respectively in sterling terms.” GDXJ is the Market Vectors Junior Gold Miners ETF, GDX is the Market Vectors Gold Miners ETF.
There’s no mention of what’s in the portfolio until page 31, when all we get is a simple list of holdings. No mention of the stocks that contributed and detracted from performance. What you do get is much speculation on the past and future direction of the gold price.
GPM : Golden Prospect has poor 2014