File a Complaint
Share your perspective with the U.S. Securities and Exchange Commission (SEC)
If you are a shareholder or investor in ASA, your investment may be exposed to irreversible harm, including forced portfolio liquidation, substantial or even punitive tax consequences, and the loss of investor protections currently afforded to you. It remains important that shareholders make their voices heard as Saba and the Board continue to pursue actions that could strip ASA of its historic mandate and harm shareholders.
The SEC's mission is to protect retail investors - even if you only hold a few shares, your voice matters and can make a difference—make it heard.
Write to the SEC
You may contact the SEC through its investor inquiry form: https://help.sec.gov/s/questions-and-feedback
You do not need legal or technical language—write a short message in your own words—direct input from investors carries weight. While the form is labeled for questions, investor concerns and complaints are routed internally.
You may wish to address:
- Whether shareholders were denied a meaningful vote before key outcomes were effectively predetermined
- Whether ASA’s investment mandate is being taken away from shareholders
- Whether shareholders may face avoidable tax consequences
- Whether the proposed changes primarily benefit Saba rather than shareholders
- Any concerns about Saba taking over management of ASA
- Any concerns about the introduction of profit-sharing fees
- Why the SEC should closely examine what has occurred at ASA
You may wish to include the number of shares you hold. Input from all shareholders, including smaller retail investors, is important.
Again, you can send a message to the SEC by clicking here.
You may also submit a more formal report through the SEC’s Tips, Complaints and Referrals (TCR) system: https://www.sec.gov/submit-tip-or-complaint/report-possible-securities-law-violations (Formal submissions may take longer to be processed.)
Thank you for filing a complaint to help protect ASA shareholders.
Register your potential interest in a future Merk-managed mining strategy, so you don't miss out: saveasa.com/register
* The online registration is to indicate potential interest only. More information about a potential Merk-managed mining strategy will be provided at a later date. The past performance of ASA does not guarantee the future results of another Merk-managed strategy.
As of this writing, ASA’s Board has not announced how it will proceed. On June 30, 2026, Merk concluded its management of ASA after the Saba-controlled Board terminated Merk’s advisory agreement. Certain Fund directors, including a Saba partner, have assumed responsibility for ASA’s management.
Axel Merk owns over 300,000 shares of ASA Gold and Precious Metals Limited. He serves as President and Chief Investment Officer of Merk Investments LLC, which served as the Fund’s investment adviser until June 30, 2026. He also resigned as Chief Operating Officer of ASA in June 2026.
Nothing on this website constitutes an offer to sell, or a solicitation of an offer to buy, any securities. The information presented on this website reflects the views and opinions of Axel Merk and is provided solely for educational and informational purposes. It does not constitute investment, legal, financial, or tax advice. You should consult your own advisors for guidance specific to your circumstances.
The plans of Saba and the Board are based on publicly disclosed information only and are therefore accordingly qualified in their entirety and subject to change.
This site and its content have not been approved by ASA Gold & Precious Metals Ltd. (“ASA” or the “Fund”). concentrates its investments in the gold and precious minerals sector, which may be more volatile than other industries and influenced by changes in commodity prices driven by international economic and political developments. ASA is a non-diversified fund, which may result in higher risk through reduced portfolio diversification. It may also invest in smaller-sized and foreign companies, which may be more volatile, less liquid, and subject to additional risks, including currency fluctuations. Shares of closed-end funds like ASA frequently trade at a discount to net asset value.
This website may include forward-looking statements that reflect the current expectations, estimates, beliefs, assumptions, and projections of Axel Merk. These statements are inherently subject to risks and uncertainties, many of which are beyond the control of the author. Actual outcomes may differ materially from those discussed. Forward-looking statements can often be identified by words such as “believe,” “expect,” “intend,” “may,” “will,” “should,” or similar expressions including the negatives thereof, other variations or comparable terms. These statements speak only as of the date made, and there is no obligation to update or revise them in light of future developments.
Certain links may direct users to third-party websites or filings with the U.S. Securities and Exchange Commission (“SEC”). These materials are provided solely for convenience and informational purposes and are not incorporated by reference into any proxy materials. No responsibility is taken for the accuracy or content of third-party sources, and no obligation exists to provide updated information if it subsequently becomes incorrect in the future.
