REG - Golden Prospect Prec Golden Prospect-GPSS - Update Following Resignation of Portfolio Managers

Golden Prospect Precious MetalsAnnouncement

26/03/2026 07:00

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RNS Number : 1571Y  Golden Prospect Precious Metals Ltd  26 March 2026

 

26 March 2026

Golden Prospect Precious Metals Limited

 

Update Following Resignation of Portfolio Managers

On 9 March 2026, Golden Prospect Precious Metals Limited (the "Company" or
"GPM") announced that the Company's portfolio co-managers, Keith Watson and
Robert Crayfourd, resigned on three months' notice from Manulife CQS
Investment Management ("CQS"), the Company's Investment Manager, and that 12
months' protective notice would be served on CQS forthwith.

Today the Company notes yesterday's press release from Tufton Investment
Management ("Tufton")
(http://www.rns-pdf.londonstockexchange.com/rns/1571Y_1-2026-3-25.pdf
(http://www.rns-pdf.londonstockexchange.com/rns/1571Y_1-2026-3-25.pdf) )
announcing that Keith and Robert will join Tufton.

Since the resignation of the portfolio managers the Board has been exploring
options for the future management of the portfolio and can confirm that it has
already received a number of proposals, including from CQS, the incumbent
investment manager, and Tufton, Keith and Robert's new employer.

The Board does not expect the investment strategy to change and will consider
all proposals received from interested parties. All enquiries should initially
be made to the Board via the Company Secretary, Apex Fund and Corporate
Services (Guernsey) Limited.

Toby Birch, Chairman of GPM, said:

"In 2025 GPM was the best performing investment trust, delivering total
returns of 166% and 165% in NAV and price terms respectively, in the context
of the gold price rising 56% in sterling. Similarly, GPM was among the top
performing trusts in 2019 and 2020 also with price returns of 77% and 70%
respectively.

The Company, which in October this year will reach its 20(th) anniversary,
stands out in the investment trust sector as the only trust with the
characteristics of a leveraged play on the gold price by investing in gold and
precious metals mining equities - therefore it can act as a portfolio hedge
and has the potential to deliver outsized returns, like it did in three of the
last seven years. Furthermore, GPM makes full use of its closed-end structure
by investing exclusively in small and mid-cap stocks.

We therefore see a clear place in the market for its investment strategy and
return characteristics and look forward updating shareholders in due course
with regards to future portfolio management arrangements."

 Enquiries

 Apex Fund and Corporate Services (Guernsey) Limited  +44 (0) 203 5303 600

 James Taylor                                         GPPMCoSec@apexgroup.com

 

About Golden Prospect Precious Metals

Golden Prospect Precious Metals Limited is a closed-ended investment company
incorporated with limited liability in Guernsey on 16 October 2006. The
Company's investment objective is to provide Shareholders with capital growth
from a portfolio of companies involved in the precious metals sector. For the
latest factsheet and other information, click here
(https://ncim.co.uk/golden-prospect-precious-metals-ltd/) .

 

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