The minimal initial subscription amount must be at least 25,000 Euros.
We have deliberately chosen to present ourselves as a so-called boutique
fund. This implies that we focus not on the general retail investor,
but rather aim at attracting the more affluent investors that are keen
to invest part of their capital in natural resources. We have no plans
to change this policy in the near future. We also do not foresee seeking
a listing on a stock exchange, for the next few years. Without such a
listing, daily trading in the participations of the fund is not
Yes, participations can be withdrawn on a monthly basis, barring
exceptional circumstances as mentioned in the Prospectus. You can exit
the fund every month, on the last day of the month. However, a notice
period of 10 working days is applicable. You can also withdraw a part of
your participation, although the remaining sum must always amount to at
least 25,000 Euros. You
will receive your money roughly two weeks after the beginning of the
new month (so if you exit per 1st January, you will receive it around
15th January). The fund will always purchase your participations at the
NAV value as calculated by Circle Partners, after deduction of the
redemption fee of 0.5%.
No, not directly. We sometimes have a position in an ETF that is covered by physical gold or silver.
Willem Middelkoop is one of the founders of the fund, and involved on a
day-to-day basis as a fund manager. He is responsible for research and
communications for the fund. Willem has invested a significant part of
his capital in the fund. Willem has completely ceased his work as a
financial journalist. He is, however, still an active presenter on economic topics and on investing in commodities.
The Commodity Discovery Fund is actually a natural resources fund, but
since inception heavily weighted towards companies active in the
exploration and mining of precious metals (75%), mainly because this is
currently the sector with the strongest fundamentals. Should market
sentiments change, however, we can easily shift the relative weight in
favour of other metals or natural resources in our pursuit of
opportunities. For example, we are also exposed to base metals and
energy related stocks. Furthermore we also invest in listed companies
active in the field of exploration and production of platinum group metals and uranium.
This varies per case. We would recommend seeking advice from a tax counselor or the government tax service.
Each additional payment is formally a new participation. However, you no longer need to fill out a new form. It is sufficient to wire your additional payment, merely stating your name.