The fund seeks capital appreciation in the long term by investing in companies 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 focuses on securities of foreign and domestic issuers principally engaged in gold related activities and gold bullion.

In selecting securities for the portfolio, the research team focuses on companies that are estimated to trade below their fair values demonstrating growth prospects.

Other factors in considered include capitalization per ounce of gold production, capitalization per ounce of recoverable reserves, quality of management, and the issuer’s ability to create shareholder wealth.

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.

Additionally, the fund estimates that a significant portion of its net assets may be invested in securities of foreign issuers, including those located in emerging markets.
 

The fund seeks capital appreciation in the long term by investing in companies 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 focuses on securities of foreign and domestic issuers principally engaged in gold related activities and gold bullion.

In selecting securities for the portfolio, the research team focuses on companies that are estimated to trade below their fair values demonstrating growth prospects.

Other factors in considered include More