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Taurus shuts gold fund on redemptions after price tumbles

Posted on 06 June 2013

Taurus Funds Management Pty Ltd. shut its precious metals fund because of investor redemptions after gold slumped, according to an executive, who said that the product once held as much as A$250 million ($240 million).
Assets in Taurus Precious Metals peaked last year before the closure in May, Gordon Galt, a principal at the Sydney-based fund manager, said in an interview today, declining to comment on the level last month. As of February, the fund had invested mostly in physical gold, according to a report to investors for that month, which was confirmed by Galt………………………………………..Full Article: Source


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