Pekin Singer Strauss Asset Management to Vote to Amend Redemption Features of Central GoldTrust
10 April 2015 - 3:30PM
Business Wire
After reviewing information distributed by both Polar Securities
Inc. and Central GoldTrust, Pekin Singer Strauss Asset Management
has announced that it intends to vote in favor of Polar’s proposal
to amend the trust’s unit redemption features.
The proposed initiative, to be addressed at Central GoldTrust’s
May 1 annual unitholder meeting, will allow redemptions of 100
percent net asset value for those requesting a gold redemption and
95 percent net asset value for those requesting a cash
redemption.
“Polar’s proposal to unlock unitholder value is proven and
straightforward. If implemented, we can expect a decrease in the
trading discount of Central GoldTrust units and maximized value for
all unitholders,” said Adam Strauss, co-CEO of Pekin Singer
Strauss, investment advisor to high-net-worth individuals and
Appleseed Fund (NYSE: APPLX, APPIX), a go-anywhere value fund where
Central GoldTrust is a top holding.
“We urge Central GoldTrust management to reconsider its
rejection of Polar’s proposal,” he said.
Since 2010, Pekin Singer Strauss – on behalf of its separately
managed accounts and Appleseed Fund -- has purchased more than 1.2
million units of Central GoldTrust, a Canadian-based closed-end
fund that owns and holds gold bullion.
“As a long-term U.S.-based holder of Central GoldTrust units, we
fully support Polar’s redemption proposal,” said Strauss.
About Pekin Singer Strauss Asset Management
Founded in 1990, Pekin Singer Strauss Asset Management is a
leading Chicago-based wealth management firm that provides its
high-net-worth clients with thoughtful financial advice,
comprehensive financial plans and customized investment portfolios.
It has generated superior returns over time by pursuing a
disciplined value investing approach which minimizes investment
risk with clients’ capital. The independent, employee-owned firm is
committed to maintaining the highest standards of ethics and
objectivity and to serving as its clients’ trusted advisor. For
more information, visit www.pekinsinger.com. Pekin Singer Strauss
Asset Management is registered with the SEC as an investment
adviser.
About Appleseed Fund
Appleseed Fund is a mutual fund that seeks to generate
market-beating returns by making, prudent, disciplined, and
sustainable investments in a variety of asset classes around the
world. The Fund is managed by Pekin Singer Strauss Asset
Management. For more information, visit www.appleseedfund.com.
Past performance is no guarantee of future results. The
investment return and principal value of an investment in the Fund
will fluctuate so that an investor’s shares, when redeemed, may be
worth more or less than their original cost.
Investments in commodities may be affected by overall market
movements, changes in interest rates, and other factors such as
weather, disease, embargoes and international economic and
political developments. Commodities are assets that have tangible
properties, such as oil, metals, and agricultural products. These
instruments may subject the Fund to greater volatility than
investments in traditional securities.
As of 12/31/2014 Appleseed Fund invested 13.1% of its portfolio
into Central GoldTrust (NYSE: GTU).
You should carefully consider the investment objectives,
potential risks, management fees, and charges and expenses of the
Fund before investing. The Fund’s prospectus contains this and
other information about the Fund and should be read carefully
before investing. You may obtain a current copy of the Fund’s
prospectus by calling 1-800-470-1029. Distributed by Unified
Financial Securities, Inc., 2960 North Meridian Street, Suite 300,
Indianapolis, IN 46208. (Member FINRA)
CLM CommunicationsCindy Martin,
847-864-9540cindy@clmcomm.com
(AMEX:GTU)
Historical Stock Chart
Von Mai 2024 bis Jun 2024
(AMEX:GTU)
Historical Stock Chart
Von Jun 2023 bis Jun 2024