Review: Positive medium-term outlook
Geiger Counter (GCL) is a specialist fund providing selective diversified exposure to the uranium sector. Apart from a brief recovery at the start of 2014, the uranium sector has been in decline since the Fukushima accident in 2011 after which the uranium price declined steadily due to market oversupply. However, the medium-term outlook appears more positive with production curtailments and forecast growth in nuclear power generation. GCL’s NAV total return performance has significantly outperformed the uranium spot price in 2014 and, at the same time, the share price discount has narrowed. The managers are maintaining a relatively defensive positioning but GCL’s broad sector exposure should make it well placed to benefit from a potential recovery.Geiger Counter is a close-ended investment company. Co.'s investment objective is to deliver returns to shareholders primarily in the form of capital growth. Co. has delegated the management of the investments portfolio to CQS Cayman Limited Partnership, as its Investment Manager and who in turn has delegated management to CQS (UK) LLP, as its Alternative Investment Fund Manager. Co.'s investment policy is to invest in the securities companies involved in the exploration, development and production of energy, and related services companies, for both existing and alternative supplies and types of energy. As of Sept 30 2017, Co. had total investment of £19.1 million.
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