PALO ALTO, Calif. (PRWEB) March 28, 2006
Merk Investments LLC announced that its flagship strategy, the Merk Hard Currency Fund (MERKX), has reached $10 million in assets as of March 20, 2006. The Fund, which was launched May 10, 2005, is a no-load, open-ended mutual fund that seeks to protect against the fall of the dollar relative to other currencies.
“We are pleased to have reached this milestone in such a short period of time because it demonstrates the demand for hard currency diversification,” said Axel Merk, president of fund manager Merk Investments. The Fund seeks to protect investors against declines in the US dollar by investing 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.
“As some economists predict the current account deficit to reach US$1 trillion this year, we see an increasing number of investors grow concerned that the US dollar may be susceptible to further depreciation,” Merk continued. “Through the Merk Hard Currency Fund, investors can seek protection against a falling dollar with the ease of investing in a no-load mutual fund. We are reaching both investment advisor and retail investors looking to gain exposure to sound hard currencies – not as a speculative play, but as a way to further diversify their holdings.”
For more information about the Merk Hard Currency Fund, including how to obtain a prospectus and to invest, please visit http://www.merkfund.com.
About the Merk Hard Currency Fund and Merk Investments
The Merk Hard Currency Fund, a pure play on hard currencies, provides investors with a new fundamental investment option to gain exposure to hard currencies such as the euro, Swiss franc, Australian and Canadian dollar and indirectly in gold. To gain access to a basket of hard
currencies without the Fund, investors must either determine which currencies they wish to invest in and gain exposure through buying those currencies directly; invest in funds that may include more speculative currencies in their portfolios; invest in international stock or bond funds that introduce stock market, credit and/or interest risks; or engage in complex and speculative derivative trading.
The Merk Hard Currency Fund is managed by Merk Investments, a money management firm that invests with discipline and long-term focus while adapting to changing environments.
Axel Merk, president of Merk Investments, makes all investment decisions for the Merk Hard Currency Fund. Mr. Merk founded Merk Investments AG in Switzerland in 1994; in 2001, he relocated to the US and transferred all investment advisory activities to Merk Investments LLC, an SEC-registered investment adviser.
Mr. Merk holds a BA in Economics (magna cum laude) and MSc in Computer Science from Brown University, Rhode Island. The institution awarded him the Class of 1873 Prize for Excellence in Economics in 1991. He has extensive experience and expertise in how global financial imbalances, as evidenced by an enormous trade deficit, affect the markets. He has published many articles describing complex economic phenomena in understandable terms and speaks on the topics of investment and global financial markets at conferences.
As with any mutual fund product, there is no guarantee that the fund will achieve its goals. Investors should consider the investment objectives, risks and charges and expenses of the Merk Hard Currency Fund carefully before investing. This and other information is in the prospectus, a copy of which may be obtained by visiting the Fund's website at http://www.merkfund.com or calling 866-MERK FUND. Please read the prospectus carefully before you invest.
The Fund’s principal investment risks include, but are not limited to, currency exchange rate risk, foreign instrument risk, gold related and derivative securities risk, interest rate risk, and non-diversification risk. For a more complete discussion of these risks please refer to the Fund’s prospectus. Foreside Fund Services, LLC, distributor.