Thanks to the bloggers in this thread who finally convinced me to sell this fund in late February, saving me from a 40% loss. I am now considering buying back into the precious metals sector, but via a different mutual fund family. Any suggestions?
Many funds, including this one, have as part of their portolio Yamana Gold. PMs are in a downtrend, so the bottom may not be in as yet. Wait for an indication this sector does not want to go lower. There is no reason to buy ANY funds. All they do is take money out of your pocket and put it in that of the fund managers. They do NOT reward their investors, ANY of them. By far Yamana in this sector has done better than any of the PM funds. Do your own due diligence to determine this as fact. If you are able to catch Yamana at a low you will find that you will be rewarded not only by increased share price, but also by dividends that are far greater than most other shares. And, yes, we DO own Yamana, but will not buy more until the downtrend ends. We got in at $3.85 per share in early 2009.