The investment seeks long-term capital appreciation without undue risk to capital. Current income is incidental. The fund actively allocates assets among countries, geographic regions, and currencies. The advisor tries to anticipate changes in U.S. and foreign markets, and considers political and economic conditions to determine allocations. The fund may invest in securities issued anywhere in the world, and there is no limit on the amount it may invest in any one country or currency. It may invest no more than 25% of assets in gold and silver bullion. The fund may leverage, sell short, and engage in options and futures.
Fund filings (PDF) »