said Monday that assets across its three funds have crossed the $500-million mark. Palo Alto, California-based Merk entered the mutual fund business in 2005.
Last year, assets rose by more than 35 percent, company officials said.
Palo Alto, Calif. (PRWEB) October 19, 2009 -- Merk Mutual Funds has firmly established currencies as an asset class by achieving $500 million in assets among its three currency mutual funds. Merk Mutual Funds' assets have grown substantially every year since the launch of the first fund in 2005. In 2008, a tough year for many mutual fund firms, assets grew 24%. The Merk Hard Currency Fund (MERKX) is designed to profit from a decline in the U.S. dollar by investing in a basket of currencies from countries pursuing sound monetary policies. The Merk Asian Currency Fund (MEAFX) is designed to profit from a decline in the U.S. dollar by investing in a basket of Asian currencies; and, the Merk Absolute Return Currency Fund (MABFX) is a pure play on currencies, aiming to profit regardless of the direction of the U.S. dollar or traditional asset classes. The Merk Funds are no-load, transparent, open-end mutual funds that do not typically employ leverage.
"The demand for currency diversification has been rising, as currencies generally exhibit low correlation to, and lower volatility than, traditional asset classes," said Axel Merk, Portfolio Manager of the Merk Funds. "In this day and age where traditional asset classes are moving in lock-step like never before, diversification has become more important than ever. We have also shown that it is not necessary to employ leverage to succeed in the currency markets," continued Merk. "Currencies are no longer just for speculators, but investors now have options to participate in what is the largest and most liquid market in the world."
Merk Investments, the manager of the Merk Mutual Funds, will be sharing their investment outlook during the Merk Funds' quarterly conference call scheduled for October 20, 2009. William Poole, Merk's Senior Economic Advisor and the Former St. Louis Federal Reserve President will be Merk's special guest on the call and will share his insights on the economy and current monetary policy. Please refer to www.merkfunds.com for details and registration.
Merk Investments LLC is a registered investment adviser and the manager of the Merk Mutual Funds, offering currency mutual funds. Through its funds, Merk Investments seeks to provide investors with options to diversify their holdings outside of the U.S. dollar and outside traditional asset classes.
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