Thursday, March 17, 2011

So, You Thought it Was Cute to Call it the Geiger Counter Fund? And How is That Working Out? (GCL.L; GEIGF)

This is a couple days old. I had planned to post it on Tuesday but the source disappeared. The site which had been popped up as FundWeb this morning:

Geiger Counter managers play down nuclear fear
New City Investment Managers, which runs the Geiger Counter investment trust, remains confident that nuclear stocks will not suffer over the long-term because of the problems with Japan’s Fukushima Daiichi nuclear facility.
The company manages the £94.6m Geiger Counter fund, which invests in uranium exploration and production stocks. A statement issued by the firm says that the prices of the fund’s underlying assets have “clearly” been hit by the situation in Japan....MORE
No worries then.

The chart is through yesterday. Today GCL is at 73.50 down from 120 the day the quake hit:

To be fair the fund had a tremendous run up, from the 45 level back in July.