Saffron Fund, Inc. Reports Earnings.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- Saffron saffron, name for a fall-flowering plant (Crocus sativus) of the family Iridaceae (iris family) and also for a dye obtained therefrom. The plant is native to Asia Minor, where for centuries it has been cultivated for its aromatic orange-yellow stigmas (see Fund, Inc. (the "Fund"), a closed-end closed-end adj. Issuing a fixed number of shares that can be traded publicly but are not redeemable by the issuer: a closed-end investment company. , non-diversified management investment company that, under certain conditions, invests substantially all of its assets in cash and high quality debt obligations, today announced its investment results for the third quarter and nine months ended August 31, 2004.
At August 31,
2004 2003
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Net Assets $ 56,223,824 $ 54,909,046
Shares Outstanding 5,858,327 5,858,327
Net Asset Value ("NAV") $ 9.60 $ 9.37
Market Price (a) $ 8.29
Discount to NAV n/a (11.53%)
Quarter Ended August 31,
2004 2003
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Net Investment Loss ($91,926) ($149,699)
Per Share ($0.02) ($0.03)
Net Realized and Unrealized Gain/(Loss) ($131,207) $ 4,329,098
Per Share ($0.02) $ 0.74
Nine Months Ended August 31,
2004 2003
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Net Investment Loss ($336,546) ($799,237)
Per Share ($0.06) ($0.14)
Net Realized and Unrealized Gain $ 902,768 $ 5,437,749
Per Share $ 0.16 $ 0.93
(a)Trading in shares of the Fund was suspended effective May 20, 2004.
On August 30, 2004, the Fund filed its Articles of Dissolution Act or process of dissolving; termination; winding up. In this sense it is frequently used in the phrase dissolution of a partnership. The dissolution of a contract is its Rescission by the parties themselves or by a court that nullifies its binding force and reinstates each with the Maryland Maryland (mâr`ələnd), one of the Middle Atlantic states of the United States. It is bounded by Delaware and the Atlantic Ocean (E), the District of Columbia (S), Virginia and West Virginia (S, W), and Pennsylvania (N). State Department of Assessments and Taxation to dissolve A Web site design technique borrowed from the film and video industry in which the transition between two Web pages is represented visually by one page fading into another. Also known as a "soft cut," the result is achieved in the HTML coding of the images to gradual pre-determined the Fund, at which time all of the Fund's outstanding shares were to be cancelled can·cel v. can·celed also can·celled, can·cel·ing also can·cel·ling, can·cels also can·cels v.tr. 1. To cross out with lines or other markings. See Synonyms at erase. 2. . The Fund also filed with the Securities and Exchange Commission to deregister its common shares under the Securities Exchange Act of 1934 and to deregister the Fund itself under the Investment Company Act of 1940. Additional information may be obtained by calling (212) 882-5977. To receive a copy of the Fund's most recent financial report, please call 800-426-5523. |
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