Fund Description

The fund uses a matrix of top-down macro and bottom-up stock-selection models to weight countries, sectors and securities, monitoring fiscal and monetary policies, historical and socioeconomic cycles, and applying statistical and fundamental approaches including GARP, supplemented by travel-based observations. Under normal conditions it invests at least 80% of net assets in equity and equity-related securities of companies involved in precious metals and diamonds, and may invest in metals directly or via ETFs. It may invest in foreign and emerging markets, including common and preferred stocks, convertibles, rights, warrants, options, ADRs/GDRs, private placements, IPOs and LEAPS. It may short positions, use options strategies, hold up to 15% in illiquid securities, and maintain higher cash levels based on volatility and money-flow models. It invests across senior, intermediate and junior miners and is non-diversified.