Fund Description

The fund, under normal circumstances, invests at least 80% of its net assets (plus borrowings, if any, for investment purposes) in equity securities of companies principally engaged in the exploration, mining, or processing of precious metals and minerals. "Principally engaged" means a majority of a company's revenue, earnings, or cash flow, or a majority of its asset value as determined by the fund, is tied to gold and other precious metals and minerals. The 80% policy may be changed with at least 60 days' prior written notice. It may at times be significantly invested in one or a small number of countries. The adviser uses a systematic, multi-factor process ranking eligible securities on quality, value, and momentum, then optimizes holdings for expected risk-adjusted returns within risk constraints.