In the News: Bloomberg

Portfolio manager Axel Merk discusses with Bloomberg whether the Australian dollar is too popular

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'The only thing we don’t like about the Australian dollar is that everyone else likes it,' said Axel Merk, president of Palo Alto, California-based Merk Investments LLC, which manages $550 million in mutual funds that specialize in currencies. 'If the Chinese allow their currency to move higher they have more purchasing power, and they can buy more commodities.'

Merk’s Hard Currency Fund, designed to protect against a weaker U.S. dollar by investing in currencies of countries that target inflation, has about 11 percent of its cash in the Aussie, which may reach parity this year, he said. ..."