Briefly: “DIY investors setting long-term goals” and more news

So much for the image of the do-it-yourself (DIY) investor as a self-styled day trader. A survey by RBC found that 81% of self-directed investors are using their online brokerage accounts to fund long-term goals, such as funding retirement or a child’s education.

Only 11% say they use their accounts solely for short-term profit.

While many DIYers may have responsible investment goals, many may still need help with their planning. Only 19% feel they have achieved adequate portfolio diversification, compared with 30% who said they are not very diversified, not at all diversified or they don’t know.

The survey found that the more diversified the portfolio, the more likely investors are to say it has performed as well as expected (61%) or better than expected (19%).

“It’s important to periodically re-evaluate your investment strategy and overall portfolio,” said Jason Storsley, president and CEO of RBC Direct Investing.

– Steven Lamb

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Kitco offers storage for gold, silver

With the price of gold luring more investors into precious metals investing, a shortage has developed—not in the commodity itself but in places to store the stuff.

That has created an opportunity for Kitco Metals, which has introduced the first allocated storage program for retail and wholesale precious metal investors.

“In this uncertain time, safety and liquidity are the primary pillars of any prudent investment. Allocated storage offers just such a prudent choice,” says Peter Hug, Kitco’s director of investments.

Kitco’s Canadian Allocated Storage program allows investors to hold segregated gold and silver bullion in Canada. The program features quarterly audits by independent third-party auditors, efficient pricing and detailed monthly statements.

The company is now accepting applications from prospective investors, with a minimum account value of US$25,000.

– Steven Lamb

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Sprott announces proposed changes

Sprott Asset Management has proposed changes to the investment objectives of Sprott Multi-Manager Fund.

If approved by unitholders the fund’s investment strategy will shift to allow exposure to Sprott’s recently launched fixed income funds managed by Scott Colbourne and Michael Craig. The fund will be renamed Sprott Tactical Balanced Fund, and the management fee for Series A and F units will be reduced by 0.25%.

In addition, the fund would employ a more flexible and opportunistic asset allocation approach to seek to improve risk-adjusted return potential in a variety of market environments.

“We believe the proposed changes will benefit investors by providing them with greater asset class diversification, additional best-in-class portfolio managers, as well as a tactical asset allocation approach which will be driven by Sprott’s macroeconomic and market views,” says James Fox, president of Sprott Asset Management.

Unitholders will vote on the changes at a special meeting to be held on or about November 25, 2010.

– Vikram Barhat

(10/18/10)