130/30 Mining LP

Snapshot

130/30 Mining LP - Class A units
TSX Symbol/Fund Code:
Inception Date: June 27, 2008
Investment Type: Limited Partnership
 
130/30 Mining LP - Class F units
TSX Symbol/Fund Code:
Inception Date: June 27, 2008
Investment Type: Limited Partnership
 
Portfolio Manager:
Kevin MacLean
Details
Portfolio Manager:
Laura Lau
Details
Net Asset Value
NAVPU NAV Date
130/30 Mining LP - Class A units $11.87 February 25, 2010
130/30 Mining LP - Class F units $12.06 February 25, 2010
show all
 
 

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Product overview


130/30 Mining LP is a limited partnership with a focus on enhancing risk-adjusted returns and providing monthly income through exposure to mining issuers.

The Partnership will invest in an actively managed long/short portfolio consisting primarily of equity and debt securities of metals and minerals mining and exploration issuers that are listed on a North American stock exchange. The 130/30 strategy is designed to enable the manager to invest up to 130% long in the mining sector and have the flexibility to short up to 30% in any sector to capitalize on any particular sector weakness. The portfolio manager believes opportunities can be found as many mining securities are undervalued, and many mining issuers have the potential for production growth and/or promising exploration prospects.

Investors benefit in several key ways:
  • Long-term capital appreciation in a sector with the potential to enhance risk-adjusted returns
  • Monthly cash distributions, initially representing 8.0% per annum
  • Distributions are expected to be capital gains or return of capital, with the option of distribution reinvestment
  • Partnership will have a diverse set of portfolio strategies not typically available to retail investors
  • Conversion to an open-end mutual fund after two years (July 31, 2010)

The Partnership meets the needs of investors seeking to enhance portfolio diversification through mining sector securities within a well-balanced portfolio. It also provides the benefit of increased return potential and an actively managed portfolio by an experienced investment manager with a strong track record.

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Performance


Annual Returns - by NAV

 
 
 
 
20081
 
 
 
 
 
-17.0% 
1Total return for the period June 27, 2008 to December 31, 2008.

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Portfolio managers

Kevin MacLean, Vice-President and Senior Portfolio Manager

Kevin joined Sentry Select in August 2004; he specializes in precious metals and mining equities. Kevin is also responsible for all mining investments, including tax advantaged early-stage funding.

Laura Lau, Senior Portfolio Manager

Laura joined Sentry Select in 2004; she specializes in energy equities.

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Distributions


Current monthly distributions of $0.0667

 
20081
Return of capital

 

0.33
Total distributions2
 
0.33

1 Results are for the period from May 30, 2008 to December 31, 2008.
Distributions are based on the actual number of units outstanding at the relevant time.

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Portfolio holdings


SUMMARY OF INVESTMENT PORTFOLIO (as at December 31, 2009)

Assets under management: $23,284,215

Top holdings:
(unaudited)
Name of security

% of net assets

Long Positions
Semafo Inc.18.48
Alamos Gold Inc.9.69
Golden Star Resources Ltd.9.10
Osisko Mining Corp.8.72
Gold Wheaton Gold Corp.7.84
Yamana Gold Inc.7.22
Aurizon Mines Ltd.7.06
Red Back Mining Inc.6.44
Jaguar Mining Inc.5.07
Silver Wheaton Corp.5.03
Centerra Gold Inc.3.35
Horizons BetaPro COMEX Gold Bullion Bull Plus ETF2.86
Allied Nevada Gold Corp.2.73
Horizons BetaPro S&P/TSX Global Gold Bull Plus ETF1.57
HudBay Minerals Inc.1.46
IAMGOLD Corp.1.28


Portfolio breakdown: (unaudited)
Sector

% of net assets

Long Positions
Gold79.14
Precious metals & minerals12.87
Levered ETFs4.43
Diversified metals & mining1.46
 97.90
Short Positions
Gold(5.38)
Commodities(1.79)
 (7.17)
Cash and Cash Equivalents9.14
Other assets, net of liabilities0.13
Total net assets

100.00

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