The fund’s chief executive, Alan Van Nostrand, has warned investors that a drop in the price of silver may have caused the fund to miss out on the gains in gold.
Mr Van Nostrent has said the fund’s returns could drop to between 6 per cent and 10 per cent, down from the more than 25 per cent that it saw in the fourth quarter.
Silver is currently trading around $US12.75 a troy ounce and has seen its price surge over the past two years, to an all-time high of $US27.65 a tiron ounce in December 2016.
It has also been a strong performer this year, up almost 40 per cent year-on-year.
The fund is now trading at a higher level than at the time of its last dividend in April, when it saw a loss of around $8.25 million, but Mr Van Nostrand said the decline was largely due to silver.
I don’t think silver will do anything to the gold price. “
But we have a lot of work to do, and we’re not going to be there in a year or two.”
I don’t think silver will do anything to the gold price.
Silver’s going to keep on rising in price, but gold is going to continue to rise in price.
“The fund has also received a boost in its revenue from advertising.
It now generates $6.5 million a month from ad revenue, up from $4.7 million a year earlier.
Mr van Nostrand said advertising was not the fund, but rather the advertising that came from the Australian gold industry.
“So the gold industry has been doing really well for a long time.” “
The fund is a long term investment, and the fund has been investing in gold for years,” Mr van Nostren said.
“So the gold industry has been doing really well for a long time.”
The Australian gold price surged $US1.9 billion ($2.4 billion) in 2017.
The chief executive of the Sydney-based Van Nostrant Funds, Alan van nost rand, said he was not worried about the fund losing money. “
We want to get to a position where we can have a long and sustainable period of growth, and I think that will happen.”
The chief executive of the Sydney-based Van Nostrant Funds, Alan van nost rand, said he was not worried about the fund losing money.
“Silver is a great asset, but it’s not the only asset that is good, it’s one of the three pillars of Australian growth,” Mr Van Noserid said.
Mr Nostrands shares rose more than 15 per cent on the news.