Junior Mining has gained shareholder approval to change its name to Junior Gold and to alter its investment objective.
The Junior Gold fund will now aim to provide long-term capital growth from a globally diversified portfolio invested primarily in small to medium capitalisation companies that specialise in identifying, developing and extracting gold.
At the moment, more than 90% of the portfolio is invested in gold mining companies. (article continues below)
Angelos Damaskos, the chief executive officer of Sector Investment Managers, investment advisers to the trust, says the portfolio now focuses almost entirely on gold mining companies with growing production, strong management teams and promising exploration programmes.
Damaskos expects these companies to benefit from any continued rise in the gold price.