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Home > Financial Services > Mutual Funds > Midas
Midas
Midas Fund's precious focus on metals to include more silver and platinum companies, returns were enhanced in the recent quarter. Midas’ core holdings of carefully selected senior, intermediate, and emerging gold producers and large diversified miners also performed well, as gold and many base metal prices reached medium and long term highs. A limited holding of natural gas companies underperformed and was sold. Currently, the Fund is leveraged and aggressively positioned for a rising gold price with a greater emphasis on junior companies with an attractive gold production growth profile, gold resources, exploration potential, or other special features. The Fund may seek to further leverage its gold holdings and increase its portfolio globally with additional investments in non-U.S. mining companies.
Employing flexible investment and seasonal timing strategies, Midas Special Equities Fund switched from a defensive to a leveraged bullish position during the quarter in anticipation of positive market performance. The Fund broadened its focus in stocks to a larger number of attractive companies and sectors, including the internet and telecommunications. The Fund owns shares of companies with fortress-like financial strength and global franchises. The Fund also benefited from investments in companies with hard assets in real estate and gold.
Midas Dollar Reserves positioned itself to take advantage of interest rate increases during the quarter while obtaining the benefit of safety through investment in money market obligations of the U.S. Government, its agencies and instrumentalities.
Anticipating the Federal Reserve Board's separate moves to counter inflationary pressures by raising short-term interest rates a combined total of 50 basis points to 4.25 percent, the Fund maintained an average maturity in the quarter of approximately 51 days. Looking forward, in view of the Federal Reserve Board's potential to continue raising the target Federal Funds rate, the Fund will continue to invest only in U.S. Government securities as it seeks maximum current income consistent with preservation of capital and maintenance of liquidity. Midas offers Midas Dollar Reserves, Midas Fund and Midas Special Equities Fund. It offers different types of services. In that Shareholder Services contain Electronic Funds Transfers, Automatic Investment Program, Retirement Plans.
The company is fast growing into one of the best invest companies with their team of fund managers who work hard to meet the objectives the funds. They work diligently to ensure that the investments of the clientele are as secure as possible and provide maximum returns.
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