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Merk Hard Currency Fund: Performance
The Merk Hard Currency Fund provides you with exposure to a basket of hard currencies from countries with sound monetary policies. This strategy seeks to take advantage of the dollar’s decline relative to these currencies, may help to diversify your portfolio, and potentially decreases downside risk against a decline in the dollar. The Merk Hard Currency Fund indirectly provides access to these currencies, while seeking to mitigate stock market, credit and interest risks incurred by alternative means of access, such as the typical international equity or bond fund.
The performance numbers below are for the period ending July 23, 2008.
On June 27 2008, the Fund distributed net income of 0.15026 per share.
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Current |
|
As of 6/30/2008 |
| |
Year-To-Date |
1 year |
Since inception
5/10/2005
cumulative
|
|
1 year |
3 year |
Since inception
5/10/2005
annualized
|
| MERKX |
+7.19% |
+14.64% |
+35.55% |
|
+17.86% |
+11.93% |
+10.00% |
inverse of
USDX |
+5.27% |
+10.42% |
+15.97% |
|
+12.95% |
+7.12% |
+4.95% |
Performance data represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. As stated in the current prospectus, the Fund's gross operating expense ratio is 1.31%. The Fund's adviser has agreed contractually to waive a portion of its fee and/or reimburse expenses such that the total operating expense ratio does not exceed 1.30%.
The U.S. Dollar Index® (USDX) is a trade-weighted geometric average of six currencies; the New York Board of Trade® defines the Dollar Index; for specifications, please click here. The Dollar Index rises when the dollar increases in relation to the currencies the index tracks. The inverse of the Dollar Index will rise as the dollar weakens. It is not possible to invest directly in an index.
As with any investment strategy, there is no guarantee we will achieve this goal and the strategy may not be suitable for every investor. The Fund is not a substitute for a money market fund. The prospectus should be read carefully before investing.
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