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Question about MPERX

edited August 2011 in Fund Discussions
I don't understand the historical pricing of this fund, which is now at $1.34! M* shows return data for over 10 years. But I am unable to find the NAV for more than a couple of years in the historical pricing site I check. And how can MPERX have made the profits M* shows and still be at $1.34?


  • edited August 2011
    Started a couple of years ago at $1. There has probably been a distribution or two along the way, as well. I'd rather suggest sticking with Permanent Portfolio - PRPFX instead. I'm not sure what the deal is with the prior years & Morningstar.
  • edited August 2011
    That's what seems so strange. M* shows 10 year history on this with returns that long. But, as I'm checking further, I read this: "this fund's investment structure or legal structure substantially changed as of 05/31/2010. Prior to that date, the fund followed a significantly different investment strategy, or it operated under a different legal structure subject to different regulatory requirements." Even more strange. Thanks for the caution but the amount I put in is so small it is completely insignificant to my total. Really wasn't even worth my time putting in, but I was fascinated that a Large Growth fund could perform so well during this last month or so given the drastic ups and downs during this period.
  • I wouldn't call it a "bad" fund, but I do think Permanent Portfolio is a more solid long-term/similar holding.
  • The long, strange ride of Midas Perpetual. It was

    the Bull and Bear II fund from inception to July 1, 1999.

    then Dollar Reserves, Inc., through August 30 2003,

    then Midas Dollar Reserves through November 22, 2005,

    finally the reorganized Midas Dollar Reserves, right up until December 12, 2008.

    At that point, Midas Perpetual Portfolio was born. In the proxy statement calling for the reorganization, "The Board of Directors . . . is recommending that the Fund move in an entirely new direction." The fund, a money market fund, will be "investing a fixed target percentage of its total assets in a broad array of asset classes including: gold; silver; Swiss franc assets; hard asset securities; large capitalization growth stocks; and dollar assets." Which is to say, a mimic if not an exact copy, of Permanent Portfolio fund (PRPFX).

    As a result, any risk/return information that's more than 2.7 years old is reflecting the performance of a money market.
  • edited August 2011
    Reply to @scott: I'm still keeping PRPFX, but glad you think MPERX isn't awful for my very small investment in it. Today looks like another possibly 2%+ drop and GOLD STILL GOING UP! That is unbelievable to me. Will be interesting to see how much MPERX drops today.
  • Reply to @David_Snowball: Thanks, David! Very interesting background on this fund - sounds like it has had no idea where it should go, but mimicing PRPFX sounds like a pretty good idea. It's even outbeat that fund over last 3 months, but after reading your response, I certainly have more confidence in the stability of PRPFX so have no plans to add any more than the very small amount I have.
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