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Home > About Us > In the News > december 12, 2011

In the News: Bloomberg
Bloomberg reports that Merk cuts euro holdings in the Merk Hard Currency Fund

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"Merk Investments LLC cut the euro position of its Hard Currency Fund (MERKX) to 14 percent, the lowest in the fund’s six-year history, citing the need for more banking system support in Europe amid the region’s crisis.

'Only when the banking system is secure enough, that’s when the market is going to quiet down,' Axel Merk, the president and chief investment officer of the eponymous firm, said in a radio interview on 'Bloomberg Surveillance' with Tom Keene and Ken Prewitt. 'As long as there’s no focus, we’ll get this grinding down.'…"

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