Currently viewing and reading

ASA Limited Reports Financial Results for the Fiscal Year Ended November 30, 2009

Posted by Dana in January 3rd 2010

ASA Limited (NYSE: ASA), a closed-end fund specializing in gold and other precious mineral investments worldwide, reported financial results for the fiscal year ended November 30, 2009. Total return for the fiscal year, including the reinvestment of dividends, was 101.8% based on ASA’s net asset value per share, and 101.0% based on its share price. The FTSE Gold Mines Index return, which does not include the reinvestment of dividends, was 72.3% for the same period. ASA’s Board of Directors considers the FTSE Gold Mines Index to be the best publicly available index for comparing the performance of ASA to an unmanaged index of global gold mining shares.

According to ASA’s President and Chief Executive Officer, David Christensen, “The fiscal year ended November 2009 was one of the most dramatic years ever witnessed in the global financial markets. The events of the last eighteen months led many investors to seek the perceived safety of gold, driving gold prices from a low of $756 per ounce in the first week of December 2008 to a high of nearly $1,200 per ounce during the last week of November 2009. The rising gold price had a very positive effect on ASA’s portfolio.”