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ASA Gold & Precious Metals Ltd. – ‘NSAR-A’ for 5/31/14

On:  Tuesday, 7/22/14, at 8:06am ET   ·   Effective:  7/22/14   ·   For:  5/31/14   ·   Accession #:  930413-14-3265   ·   File #:  811-21650

Previous ‘NSAR-A’:  ‘NSAR-A’ on 7/22/13 for 5/31/13   ·   Next:  ‘NSAR-A’ on 7/23/15 for 5/31/15   ·   Latest:  ‘NSAR-A’ on 7/26/18 for 5/31/18

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 7/22/14  ASA Gold & Precious Metals Ltd.   NSAR-A      5/31/14    5:27K                                    Command Fin’l Press Corp

Semi-Annual Report by an Investment Company   —   Form N-SAR   —   ICA’40
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: NSAR-A      Semi-Annual Report by an Investment Company            7     29K 
 2: EX-99.77C VOTES  Matters Submitted to a Vote of Security        HTML      8K 
                Holders                                                          
 3: EX-99.77E LEGAL  Legal Proceeding                               HTML      5K 
 4: EX-99.77Q3.1  Miscellaneous Exhibit                             HTML      7K 
 5: EX-99.77Q3.2  Miscellaneous Exhibit                             HTML      5K 


‘NSAR-A’   —   Semi-Annual Report by an Investment Company




SEC Info rendering:  Data from the Answer File, which may only contain updates to a prior Form N-SAR


Form N-SAR
 
Semi-Annual Report by a Closed-End Investment Company
 
Report 
 
      Registrant:   Asa Gold & Precious Metals Ltd.List all N-SARs

Semi-Annual Report (at mid-year) for the 1st-half period ended:  5/31/14

Were there any Answer File errors in the Filing?  None Found
Was the Answer File completed by the Registrant?  Yes

Is this an Amendment to a previous Report?  No
Is this a change to a previous Report?      No
 
Registrant 
 
 1.SEC CIK:      1230869
SEC File #:   811-21650

Telephone #:  650-376-3135
 
 2.Address:      400 S. El Camino Real, Suite 710
              San Mateo, CA  94402
 
 3.Is this the first Form N-SAR filed by the Registrant?  No
 
 4.Is this the final Form N-SAR filed by the Registrant?  No
 
 
Funds/Series Top of Form N-SAR 
                                                                                    
 7.Is the Registrant a Funds/Series (multiple portfolios) company?  No
 
Administrator 
 
10.1Name:         Kaufman Rossin Fund Services, LLC
Location:     Miami, FL
 
Shareholder Servicing/Transfer Agent 
 
12.1Name:         Computershare Trust Co., NA
SEC File #:   085-11340
Location:     Jersey City, NJ
 
Independent Public Accountant 
 
13.1Name:         Tait, Weller & Baker LLP
Location:     Philadelphia, PA
 
Custodian 
 
15.1Name:         JPMorgan Chase Bank
Role:         Custodian
Location:     Brooklyn, NY

Type of custody:  Section 17(f)(1) — Bank
 
15.2Name:         Firstrand Bank Ltd.
Role:         Sub-Custodian
Location:     Johannesburg
              South Africa

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.3Name:         Canadian Imperial Bank of Commerce
Role:         Sub-Custodian
Location:     Toronto
              Ontario Canada

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.4Name:         JPMorgan Chase Bank
Role:         Sub-Custodian
Location:     Sydney
              Australia

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.5Name:         JPMorgan Chase Bank
Role:         Sub-Custodian
Location:     Hong Kong

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.6Name:         JPMorgan Chase Bank
Role:         Sub-Custodian
Location:     Hong Kong

Type of custody:  Rule 17f-5 — Foreign Custodian
 
15.7Name:         JPMorgan Chase Bank
Role:         Sub-Custodian
Location:     Switzerland

Type of custody:  Rule 17f-5 — Foreign Custodian
 
18.Does the Registrant’s/Series’ Custodian(s) maintain some or all of the
Registrant’s/Series’ securities in a central depository or book-entry
system pursuant to Rule 17f-4?  Yes
 
Family of Investment Companies 
 
19.Is the Registrant/Series part of a “family” of investment companies?  No
 
Brokerage Commissions Paid on Portfolio Transactions 
 
20.The brokers who received the largest amount of gross brokerage
commissions during the period:
 
20.1Broker:       Bmo Capital Markets
IRS #:        13-3459853
Commissions paid ($000s)24
 
20.2Broker:       Dundee Capital Markets
Commissions paid ($000s)15
 
20.3Broker:       Cibc World Markets
IRS #:        13-2798343
Commissions paid ($000s)7
 
20.4Broker:       RBC Capital Markets
IRS #:        13-5033325
Commissions paid ($000s)3
 
20.5Broker:       JPM
IRS #:        13-3224016
 
21.Total brokerage commissions paid by the Registrant during the period:
  Aggregate paid ($000s)49
 
Portfolio Transactions with Entities Acting as Principals 
 
22.The entities acting as principals with whom the Registrant did the
largest amount of portfolio transactions, based on total value of
principal, during the period:
 
22.1Entity:       Bmo Capital Markets
Registrant’s purchases ($000s)1,351
 
22.2Entity:       Dundee Capital
Registrant’s purchases ($000s)5,058
 
23.Total purchase/sale transactions by the Registrant during the period:
   Aggregate purchases ($000s)6,409
 
Holdings of Securities Issued by Registrant’s/Series’ Brokers or Dealers 
 
24.At period end, did the Registrant/Series hold any securities of the
Registrant’s/Series’ regular brokers or dealers, or of the parents of
such brokers or dealers, that derive more than 15% of gross revenue from
securities-related activities?  No
 
Considerations which Affected the Participation of Brokers or Dealers 
 
26.Considerations which affected the participation of brokers or dealers or
other entities in commissions or other compensation paid on portfolio
transactions of the Registrant:

Consideration?
Sales of the Registrant’s/Series’ shares ...............................  No
Receipt of investment research and statistical info ....................  Yes
Receipt of quotations for portfolio valuations .........................  No
Ability to execute portfolio transactions to obtain the best price
  and execution ........................................................  Yes
Receipt of telephone line and wire services ............................  No
Broker or Dealer which is an affiliated person .........................  No
An arrangement to return or credit part or all of commissions or
  profits thereon...
    To an Investment Adviser or Principal Underwriter, or to an
      affiliated person of either ......................................  No
    To the Registrant ..................................................  No
Other ..................................................................  No
 
Investment Company Type 
 
27.Is the Registrant an “open-end” investment company?  No, Closed-End
 
Advisory Fee 
 
45.Did the Registrant/Series have an advisory contract during the period?  No
 
Miscellaneous Info 
 
55.Did the Registrant/Series have any of the following outstanding at any
time during the period which exceeded 1% of aggregate net assets:
    Overdrafts?  No
    Bank loans?  No
 
56.During the period, did the Registrant’s/Series’ Investment Adviser(s)
have advisory clients other than investment companies?  No
 
57.Did the Registrant/Series adjust the number of its shares outstanding by
means of a stock split or stock dividend?  No
 
Classification and Asset Allocation 
 
58.Is the Registrant/Series a Separate Account of an insurance company?  No
 
59.Is the Registrant/Series a management investment company?  Yes
 
60.Was the Registrant/Series a diversified investment company at any time
during the period?  No

Was the Registrant/Series a diversified investment company at the end of
the period?  No
 
61.The lowest minimum initial investment required by the Registrant/Series
from an investor that is not an employee or otherwise affiliated with
the Registrant/Series, its Investment Adviser, Principal Underwriter or
other affiliated entity:  $0
 
62.Does the Registrant/Series invest primarily in debt securities,
including convertible debt securities, options & futures on debt
securities or indices of debt securities?  No
 
66.Is the Registrant/Series a Fund that usually invests in equity
securities, options & futures on equity securities, indices of equity
securities or securities convertible into equity securities?  Yes

Which best describes its primary investment objective:

    Aggressive capital appreciation?  No
               Capital appreciation?  Yes
    Growth?                           No
    Growth and income?                No
               Income?                No
    Total return?                     No
 
67.Is the Registrant/Series a “balanced” Fund?  No
 
68.Does the Registrant/Series have more than 50% of its net assets at
period end invested in the securities of issuers...
    Engaged primarily in production or distribution of precious metals?  Yes
    Located primarily in countries other than the United States?  Yes
 
69.Is the Registrant/Series an index Fund?  No
 
Investment Practices 
 
70.Activities that are permitted by the Registrant’s/Series’ investment
policies, and which were engaged in during the period:

Activity                                            Permitted Engaged In
Writing or investing in repurchase agreements?           Yes      No
Writing or investing in options on equities?             Yes      No
Writing or investing in options on debt securities?      No        
Writing or investing in options on stock indices?        Yes      No
Writing or investing in interest rate futures?           No        
Writing or investing in stock index futures?             No        
Writing or investing in options on futures?              No        
Writing or investing in options on stock index futures?  No        
Writing or investing in other commodity futures?         No        
Investments in restricted securities?                    Yes to both
Investments in shares of other investment companies?     Yes      No
Investments in securities of foreign issuers?            Yes to both
Currency exchange transactions?                          Yes to both
Loaning portfolio securities?                            No        
Borrowing of money?                                      Yes      No
Purchases/sales by certain exempted affiliated persons?  No        
Margin purchases?                                        No        
Short selling?                                           No        
 
Portfolio Turnover 
 
71.Portfolio turnover rate for the period:
 
Purchases ($000s)8,688
Sales ($000s):      11,140

Monthly average Value of portfolio ($000s)265,443

Percent turnover (lesser of Purchases or Sales, divided by Value):  3%
 
Financial Info — Income and Expenses 
 
72.The number of months covered by the values in Items 72 and 73:  6

Income  ($000s)
Net interest income ..............................................
2
Net dividend income .............................................. 1,292
Account maintenance fees .........................................
Net other income .................................................

Expenses  ($000s)
Advisory fees ....................................................
Administrator fees ............................................... 88
Salaries and other compensation .................................. 930
Shareholder Servicing Agent fees ................................. 27
Custodian fees ................................................... 18
Postage .......................................................... 13
Printing expenses ................................................ 39
Directors’ fees .................................................. 170
Registration fees ................................................ 5
Taxes ............................................................
Interest .........................................................
Bookkeeping fees paid to anyone performing this service ..........
Auditing fees .................................................... 25
Legal fees ....................................................... 677
Marketing/distribution payments, incl. Rule 12b-1 plan payments ..
Amortization of organization expenses ............................
Shareholder meeting expenses ..................................... 6
Other expenses ................................................... 366
Total expenses ................................................... 2,364

Expense reimbursements ($000s):   0

Net investment income ($000s):    -1,070

Realized capital gains ($000s):   0
Realized capital losses ($000s)-2,816

Net unrealized appreciation during the period ($000s)20,435
Net unrealized depreciation during the period ($000s)0

Total income dividends for which the record date passed during the
period ($000s)386

Total capital gains distributions for which the record date passed
during the period ($000s)0
 
73.Distributions per share for which the record date passed during the
period, shown in fractions of a cent, if so declared:

Dividends from net investment income:    $0.0200

Distribution of capital gains:  $0.0000
Other distributions:            $0.0000
 
Financial Info — Condensed Balance Sheet Data 
 
74.Assets  ($000s)
Cash ............................................................. 3,573
Repurchase agreements ............................................
Short-term debt securities, other than repurchase agreements .....
Long-term debt securities, including convertible debt ............
Preferred, conv. preferred and adjustable-rate preferred stock ...
Common stock ..................................................... 263,921
Options on equities ..............................................
Options on all futures ...........................................
Other investments ................................................
Receivables from portfolio instruments sold ......................
Receivables from affiliated persons ..............................
Other receivables ................................................ 558
All other assets ................................................. 80
Total assets ..................................................... 268,132

Liabilities  ($000s)
Payables for portfolio instruments purchased .....................
Amounts owed to affiliated persons ............................... 521
Senior long-term debt ............................................
Other liabilities:
  Reverse repurchase agreements ..................................
  Short sales ....................................................
  Written options ................................................
  All other liabilities .......................................... 1,100

Equity  ($000s)
Senior equity ....................................................
Net assets of common shareholders ................................ 266,511

Number of shares outstanding (000s):   19,290

Net Asset Value (NAV) per share (to nearest cent):  $13.82

Total number of shareholder accounts:  1,280

Total value of assets in segregated accounts ($000s)0
 
75.Monthly average net assets during the period ($000s)268,207
 
76.Market price per share at period end:  $13.04
 
Additional Disclosures 
 
77.Did the Registrant file any additional Exhibits with the filing of this
Report (listed here and filed either herewith — as one of the ‘EX-99.*’
Exhibits in this Filing — or separately and incorporated by reference)?  Yes

EX-99.77C:  Matters Submitted to a Vote of Security HoldersYes

EX-99.77E:  Legal ProceedingYes

EX-99.77P:  Info Pursuant to an SEC Exemption OrderYes

EX-99.77Q3: Other InfoYes
 
Subsidiaries 
 
78.Does the Registrant have any wholly-owned investment company
subsidiaries whose operating and financial data are consolidated with
that of the Registrant in this Report?  No
 
Fidelity Bond in Effect at Fiscal Year End 
 
80.Insurer:      Continentalinsurance Co.

Aggregate face amount of coverage for the Registrant/Series on all bonds
on which it is named as an insured ($000s)1,000
 
81.Is the bond part of a joint fidelity bond(s) shared with other
investment companies or other entities?  No
 
82.Does the mandatory coverage of the fidelity bond have a deductible?  Yes

The amount of the deductible ($000s)25
 
83.Were any claims with respect to this Registrant/Series filed under the
bond during the period?  No
 
84.Were any losses incurred with respect to this Registrant/Series that
could have been filed as a claim under the fidelity bond but were not?  No
 
85.Are the Registrant’s/Series’ Officers and Directors covered as Officers
and Directors of the Registrant/Series under any errors and omissions
insurance policy owned by the Registrant/Series or anyone else?  Yes

Were any claims filed under such policy during the period with respect
to the Registrant/Series?  Yes
 
Sales, Repurchases and Redemptions 
 
86.Sales, repurchases and redemptions of the Registrant’s securities:
 
Common Stock
Sales:
    Number of shares (000s):   0
    Net consideration received ($000s)0
Repurchases:
    Number of shares (000s):   0
    Net consideration paid ($000s):      0

Preferred Stock
Sales:
    Number of shares (000s):   0
    Net consideration received ($000s)0
Repurchases and redemptions:
    Number of shares (000s):   0
    Net consideration paid ($000s):      0

Debt Securities
Sales:
    Principal amount ($000s)0
    Net consideration received ($000s)0
Repurchases and redemptions:
    Principal amount ($000s)0
    Net consideration paid ($000s):      0
 
Securities Outstanding 
 
87.Securities of the Registrant that are registered on a national
securities exchange or listed on Nasdaq:
 
Title of class:  Common Shares
    CUSIP/CINS:  G3156P·10·3
        Symbol:  ASA
 
88.A3? ........  No
B3? ........  No
C3? ........  No
D3? ........  No
 
 Signature  Top of Form N-SAR 
                                                                                    
/s/      Rodney D. Yee      
Name:   Rodney D. Yee
Title:  Coo, Cfo & Treasurer

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