The investment seeks to protect against the depreciation of the U.S. dollar relative to other currencies. The fund invests at least 80% of assets in “hard currency” denominated investments. “Hard currencies” refers to currencies in which investors have confidence, such as those of economically and politically stable countries. It normally invests in a basket of hard currency denominated investments composed of high quality, short-term money market instruments of countries pursuing “sound” monetary policy and indirectly in gold. Sound monetary policy is defined as providing an environment fostering long-term price stability. The fund is nondiversified.
Fund filings (PDF) »

Asset manager:
Axel Merk (Started: May 10, 2005)

Advisor Company:
Merk Investments, LLC
Fund family reports on Morningstar »

	1 year	3 years	5 years	10 years
Alpha*	7.67	3.87	-	-
Beta*	8.71	0.20	-	-
Mean annual return	1.74	0.73	-	-
R-squared*	8.05	69.03	-	-
Standard deviation	12.41	11.39	-	-
Sharpe ratio	1.67	0.56	-	-
* Against standard index

Risk measurement details »

Security	Net Assets
SPDR Gold Shares	11.31%
Switzerland (Government Of) 3.5%	5.94%
Finland (Republic Of) 2.75%	4.37%
QUEENSLAND GOVT DEV AUTH	4.22%
Ontario Prov Cda	3.75%
Manitoba Prov Mtn Cds-	3.75%
Alberta Treasury Brhs Mtn 4.1%	2.62%
GOLD 100 OZ FUTR AUG09	1.59%

Holdings Performance »