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Posted by Don Tiberone on April 1, 2008, 9:05 pm
http://www.merkfund.com/about-us/press/2008-04-01.html
PALO ALTO, Calif. - April 1, 2008 - Merk Investments today announced
the launch of the Merk Asian Currency Fund(tm), a mutual fund that
invests in a basket of Asian currencies. Among others, the Fund may
include the currencies of China, Hong Kong, India, Indonesia, Japan,
Malaysia, the Philippines, Singapore, South Korea, Taiwan and
Thailand.
The Fund, a pure play on Asian currencies, provides retail investors
with a new fundamental investment option to gain exposure to Asian
currencies without the risk of Asian stock markets. The Fund gains
exposure to these currencies by investing in high-quality, short-term
money market instruments of Asian countries or a combination of U.S.
dollar denominated securities and forward currency contracts. To gain
access to a basket of Asian currencies without the Fund, investors
must either determine which currencies they wish to invest in and gain
exposure through buying those currencies directly (many of which may
not be available to U.S. retail investors); invest in Asian stock or
bond funds that introduce stock market, credit and interest risks; or
engage in complex and speculative derivative trading.
"For the first time, investors will have access to investing in a
basket of Asian currencies, including the renminbi (Chinese yuan),
with the ease of investing in a no-load mutual fund," said Axel Merk,
president of Fund manager Merk Investments. "Traditionally investors
had to invest in speculative stocks to gain exposure to Asia. Now,
investors may seek to benefit from a rise of Asian currencies versus
the U.S. dollar without equity risk while mitigating credit and
interest risk. Further, investors may potentially benefit from the
current secular bear market."
Currency exposure allocations for the Fund will be determined based on
quantitative and qualitative analysis and they may be adapted as
monetary policies and economic environments evolve. "Merk Investments
has a tradition enabling investors to achieve long-term
diversification through currency investments. In our assessment, given
the secular bear market, there is no safe asset anymore and investors
may want to consider taking a diversified approach to something as
mundane as cash," concluded Merk. "Merk Investments builds on the
leadership established with its Merk Hard Currency Fund (MERKX). At
Merk Investments, we believe sustainable wealth is built over the long
term with superior insights, clear focus and commitment. We strive to
invest with discipline while adapting to changing environments."
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