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cardjunkie
Professional Investor
Joined: 24 Jul 2004
Posts: 311
Cash Points ££ 2248.20
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 Posted: Wed Feb 22, 2006 7:12 pm Post subject: Merril Lynch World Mining looks good :) |
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I own some shares in this commonities trust which is up abotu 50% in a year. Recommend it as a good long term investment 
Heres some recent results
Merrill Lynch World Mining Tst PLC
13 February 2006
MERRILL LYNCH WORLD MINING TRUST plc
All information is at 31 January 2006 and unaudited.
Performance at month end with net income reinvested
One Three One Three Five
month months year years years
Net asset value* (undiluted) 12.3% 33.2% 81.0% 219.3% 317.9%
Share price* 16.1% 33.8% 88.7% 244.5% 382.5%
HSBC Global Mining Index 12.8% 33.9% 76.6% 200.7% 198.5%
Sources: Merrill Lynch Investment Managers, HSBC Global Mining Index, Datastream
*Net asset value and share price performance includes the warrant reinvestment,
assuming the 2004 bonus warrant entitlement per share was sold and reinvested on
the first day of trading.
At month end
Net asset value
Undiluted: 444.97p Includes net revenue of: 3.30p
Share price: 408.00p Discount to NAV: 8.31%
Total assets: £743.32m Net yield: 0.4%
Gearing: Nil
Ordinary shares in issue: 168,298,906
Sector % Total Assets Country % Total Assets
Analysis Analysis
Diversified 48.3 Latin America 22.8
Base Metals 23.0 Global 19.8
Gold 9.4 Canada 18.3
Platinum 6.5 South Africa 13.0
Industrial Minerals 5.0 Australasia 9.6
Silver/Diamonds 4.5 Europe 3.4
Other 4.3 USA 3.4
Net current liabilities (1.0) Other Africa 3.3
China 2.5
India 2.4
Laos 1.1
Indonesia 1.0
Mongolia 0.4
Net current liabilities (1.0)
100.0 100.0
Ten Largest Equity Investments
Company Region of Risk
Alumina Australasia
BHP Billiton Global
CVRD Latin America
Falconbridge Canada
First Quantum Minerals Canada
Impala Platinum South Africa
Minas Buenaventura Latin America
Rio Tinto Global
Teck Cominco Canada
Zinifex Australasia
Commenting on the markets, Graham Birch, representing the Investment Manager
noted:
The Merrill Lynch World Mining Trust welcomed in the New Year with another month
of excellent performance, rising 12.3% (in sterling terms) to close January at a
NAV per share of 444.97p. The greatest contributor to performance was the
Company's largest holding, CVRD, which rose by 18.5% in sterling terms following
the announcement that it was to take over another Brazilian iron ore producer,
Caemi. The Company's largest gold holding, Gold Fields, rose 28.3% over the
month on the back of strong quarterly results which saw profitability rising as
production increases were coupled with falling costs. The South African gold
miners benefited as a whole as, after three disappointing quarters, these
results bode well for the rest of the sector.
As predicted corporate activity is already playing an important role in 2006.
January saw CVRD bid for Caemi, as mentioned above, and First Quantum announced
a hostile takeover bid for Adastra Minerals, a UK listed junior that is trying
to develop a copper-cobalt deposit in the Democratic Republic of Congo.
Over January the Company added to its platinum exposure by initiating a position
in Lonmin, the third largest primary platinum producer. The Company also took
profits in Denison Mines, a small uranium producer that has benefited from the
rise in uranium prices in recent months.
Global economic growth should be sufficiently robust to ensure that supply/
demand balances in the metals and minerals markets remain favourable. The
recent 17% upgrade to China's economy by the Chinese government now ranks it as
the fourth largest economy in the world, emphasising the pivotal role it will
play in the commodity markets going forward. Higher commodity prices have meant
that many of the Company's holdings are translating their strong balance sheets
and high cash flows into higher dividends and increased share buy backs. There
is also the continued possibility of further corporate activity as mining
companies seek to grow quickly and cost effectively. |
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Sarah
Money Manager
Joined: 16 Jul 2004
Posts: 831
Cash Points ££ 12024.38
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| Posted: Thu Feb 23, 2006 1:43 pm Post subject: |
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MLW is a good long-term core holding Investment trust.
Though, it may be volatile over the next 6 months. |
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Wade
Saving Enthusiast
Joined: 17 Feb 2005
Posts: 185
Cash Points ££ 2569.94
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| Posted: Sat Mar 04, 2006 7:37 pm Post subject: |
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This is one of the two trusts I hold in my shares ISA' I hope to put more money in such trusts next tax year.
The other one is the Indian trust, which I bought in April and it is up some 70% !!! thanks to his board
Even though I am tempted by individual shares, I am steering clear. |
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Shezz
Beginning Saver
Joined: 08 Mar 2005
Posts: 45
Cash Points ££ 348.80
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| Posted: Sun Mar 05, 2006 12:12 am Post subject: |
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Its up a lot though ! what more than 50% over the last 12months ?
I want to buy , shoudl I wait or buy now ??
Thanks |
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