What are the criteria employed in determining the composition of the Merk Hard Currency Fund?
Under normal market conditions, the Merk Hard Currency Fund invests at least 80% of the value of its net assets in hard currencies. The Fund normally invests in a basket of foreign currencies composed of high-quality, short-term money market instruments of countries pursuing “sound” monetary policy, and indirectly in gold. Currency allocations may be adapted as monetary policies and economic environments evolve.
