Fund Description

The fund's holdings are not expected to match exactly the Target Percentages, and the fund's strategy reflects investing a Target Percentage of net assets in the investment categories. Ordinarily, whenever holdings in an investment category deviate from the category's Target Percentage by more than one-quarter of the Target Percentage, the fund will buy or sell investments to bring investments back within range and will do so within ninety days (unless the discrepancy is corrected by changes in market prices), though adjustments may be delayed in disorderly markets or to avoid adverse tax consequences. Investments include gold and silver bullion and bullion-type coins; Swiss franc assets may consist of demand deposits of Swiss francs at Swiss or non-Swiss banks and highly rated bonds and other securities of the federal government of Switzerland of any maturity; real estate and natural resource stocks; aggressive growth stocks and warrants; and dollar assets such as cash, U.S. Treasuries, agency obligations, bank obligations, commercial paper, and corporate bonds. It is non-diversified, may invest globally including emerging markets, and does not maintain pre-set maturity or duration.