Axel Merk sets up an Absolute Return currency fund.
Merk Investments has set up the Merk Absolute Return Currency Fund. The company, led by Axel Merk, who identified the building of the credit bubble in 2003 and in 2005, positioned his clients to move out of real estate and the faltering dollar by investing in hard currencies and gold, says the "no-load" mutual fund seeks to generate positive absolute returns by investing in currencies. A pure play on currencies, the fund aims to profit regardless of the direction of the dollar or traditional asset classes.
"The financial crisis has been a stark reminder that true diversification may only be achieved when investors look beyond traditional asset classes. Merk is offering investors an opportunity to add managed currency exposure to their portfolios" said Axel Merk, the President and CIO of Merk Investments.
Co-portfolio manager Kieran Osborne added, "In so doing, Merk Investments is continuing its tradition of managing transparent no-load currency mutual funds that typically do not employ leverage."
Merk said that currency exposure allocations for the fund will be determined based on quantitative and qualitative analysis.
2009 CPI Financial. All rights reserved.
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|Date:||Sep 16, 2009|
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