The fund seeks to provide investors the opportunity to participate in the investment characteristics of gold by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team Invests in gold and/or securities and debt instruments directly related to gold or issuers principally engaged in the gold industry, including securities of gold mining finance companies as well as operating companies with long-, medium- or short-life mines.

Then the manager constructs a portfolio of stocks from a list of companies favored by the research team and allocates capital based on its conviction level.

The manager invests significantly in the securities of one or more issuers.

The fund may invest up to 20% of its net assets in equity and debt instruments unrelated to gold or the gold industry.

Also, the fund may allocate a substantial amount of its net assets to foreign investments (including American Depositary Receipts, Global Depositary Receipts and European Depositary Receipts).

The fund may also invest in fixed income instruments, short-term debt instruments, other precious metals, and futures contracts related to precious metals.

The fund is a non-diversified fund, and invests overall in a smaller number of issuers than a diversified fund.

Additionally, the fund may invest up to 25% of its net assets through a special purpose trading subsidiary (the Subsidiary). The Subsidiary is a wholly-owned and controlled subsidiary of the fund, organized under the laws of the Cayman Islands as an exempted company.

Generally, the Subsidiary will invest in commodities and related instruments, primarily gold bullion and other precious metals and related futures contracts. 
 

The fund seeks to provide investors the opportunity to participate in the investment characteristics of gold by investing in companies across any size outside the United States.

The investment process starts with a list of companies in the benchmark index and the research team utilizes quantitative techniques and fundamental analysis to identify investment opportunities.

Next, the research team Invests in gold and/or securities and debt instruments directly related to gold or issuers principally engaged in the gold industry, including securities of gold mining finance companies as well as operating companies with long-, More