Merk Mutual Funds

Merk Investments manages two no-load mutual funds that seek to protect against a fall in the U.S. dollar:

	Merk Asian Currency Fund (MEAFX) The Merk Asian Currency Fund typically invests in a basket of Asian currencies. Asian currencies the Fund may invest in include, but are not limited to, the currencies of China, Hong Kong, Japan, India, Indonesia, Malaysia, the Philippines, Singapore, South Korea, Taiwan and Thailand. The Merk Asian Currency Fund (MEAFX) seeks to profit from a rise of Asian currencies versus the U.S. dollar. Learn more about the Merk Asian Currency Fund...
	Merk Hard Currency Fund (MERKX) The Merk Hard Currency Fund typically invests in a basket of hard currencies. Hard currencies are currencies backed by sound monetary policy; sound monetary policy focuses on price stability. The Merk Hard Currency Fund (MERKX) seeks to profit from a rise of hard currencies versus the U.S. dollar. Learn more about the Merk Hard Currency Fund...

Since the Funds primarily invest in foreign currencies, changes in currency exchange rates will affect the value of what the Funds own and the price of the Funds' shares. Investing in foreign instruments bears a greater risk than investing in domestic instruments for reasons such as volatility of currency exchange rates and, in some cases, limited geographic focus, political and economic instability, and relatively illiquid markets. The Funds are subject to interest rate risk which is the risk that debt securities in the Funds' portfolio will decline in value because of increases in market interest rates. The Funds may also invest in derivative securities which can be volatile and involve various types and degrees of risk. As a non-diversified fund, the Merk Hard Currency Fund will be subject to more investment risk and potential for volatility than a diversified fund because their portfolios may, at times, focus on a limited number of issuers. For a more complete discussion of these and other Fund risks please refer to each Fund's prospectus.