Business News • MarketWire • Gold Participation and Income Fund Announces Semi-Annual Results |
Gold Participation and Income Fund Announces Semi-Annual Results |
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Gold Participation and Income Fund Announces Semi-Annual Results
TORONTO, ONTARIO--(Marketwire - Aug. 20, 2010) - Gold Participation and Income Fund (the "Fund") (TSX:GPF.UN) announces results for the six months ended June 30, 2010. The net realized income before distributions amounted to $0.9 million or $0.38 per unit. Net assets were $31.8 million or $13.53 per unit, net of distributions to unitholders in the amount of $0.9 million or $0.40 per unit.
The Fund's investment objectives are: (i) to maximize total returns for Unitholders including both long-term appreciation in net asset value ("NAV") per Unit and distributions; and (ii) to pay Unitholders monthly distributions in an amount targeted to be 6.5% per annum on the NAV of the Fund. The Fund achieves its objectives by investing its net assets in the gold sector - up to 50% in Shares of SPDR Gold Trust, an exchange-traded fund that seeks to track the price of
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