Hi Pat: What do you think of Central Fund of Canada? I’m told they hold actual bullion to back investments. What do you think of iShares CDN Gold Sector Index Fund for a basket of gold mining stocks?
Central Fund of Canada, $14.21, symbol CEF.A on Toronto (Shares outstanding: 213.0 million; Market cap: $3.0 billion) is a closed-end mutual fund that holds gold and silver bullion. It now holds 56.7% of its assets in gold bullion, 40.5% in silver bullion and 2.8% in cash. The fund has an MER of 0.38%. The units yield 0.07%.
Central Fund trades at an 8% premium to the per-unit value of the assets it holds. We advise against buying closed-end funds at a premium, so we don’t recommend buying units of Central Fund.
A: iShares CDN Gold Sector Index Fund, $20.31, symbol XGD on Toronto (Shares outstanding: 55.4 million; Market cap: $1.1 billion), aims to reflect the performance of the S&P/TSX Global Gold Index, which is made up of Canadian and non-Canadian gold stocks that S&P selects using its industrial classifications and guidelines. The fund holds 34 stocks, and its MER is capped at 0.55%.
The fund’s top-ten holdings are Barrick Gold at 19.4%; Goldcorp,…
Privacy Policy and Terms of Use
The Successful Investor Inc. and its affiliate Successful Investor Wealth Management (referred to hereafter as TSI Network) know that you care how information about you is used and shared, and we appreciate your trust that we will do so carefully and sensibly. This notice describes our privacy policy. By visiting websites owned by or associated with TSI Network, you are accepting the practices described in this Privacy Policy.
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What personal information do we collect?
The information we receive from customers helps us personalize and continually improve your online experience at TSI Network. TSI Network may collect personal information online for all legal purposes, which include, but are not limited to:
Information You Give Us: We receive and store any information you enter on our website or give us in any other way through sign-up forms or ordering forms for publications and services. You can choose not to provide certain information, but then you might not be able to take advantage of many of our services and features. We use the information that you provide for such purposes as responding to your requests, customizing your web browsing experience for you, improving our website, and communicating with you.
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Does TSI Network Use the Information It Receives?
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TSI Network has procedures in place to keep your personal information accurate, complete and current for the purposes for which it is collected and used. You may review the information that you have provided to us and where appropriate you may request that it be corrected. If you wish to review your personal information please send a request to: service@tsinetwork.ca.
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Changes to this Policy
This Policy is the sole authorized statement of TSI Network's practices with respect to the collection of personal information through TSI Network's websites and the subsequent use and disclosure of such information. Any summaries of this Policy generated by third party software or otherwise (for example, in connection with the "Platform for Privacy Preferences" or "P3P") shall have no legal effect, are in no way binding upon TSI Network, shall not be relied upon in substitute for this Policy, and neither supersede nor modify this Policy.
TSI Network may revise this Policy from time to time.
Legal Notices and Disclaimers
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