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Merk Absolute Return Currency Fund ® (MABFX)
Merk Absolute Return Currency Fund

The Merk Absolute Return Currency Fund seeks to generate positive absolute returns by investing in currencies. The Fund is a pure play on currencies, aiming to profit regardless of the direction of the U.S. dollar or traditional assets classes. The Fund provides investors with the opportunity to add managed currency exposure to their portfolios, which may provide valuable diversification benefits. The Merk Absolute Return Currency Fund indirectly provides access to currencies, while seeking to mitigate stock market, credit and interest risks incurred by alternative means of access, such as the typical international equity or bond fund.

The below chart represents the performance of the Fund as of November 30, 2016.

Fund Documents

 Fact Sheet, Attribution

 Prospectus / SAI

 Semi/Annual Reports

As of November 30, 2016 As of September 30, 2016 Calendar Year Performance
  Year-To-Date 1 year Since inception 09/09/2009 cumulative   1 year 5 year annualized Since inception 09/09/2009 annualized   1 year 5 year annualized Since inception 09/09/2009 annualized   2015 2014 2013 2012 2011 2010
MABFX +9.08% +7.06% -1.32%  
  -9.21% +1.53% +5.75%
inverse of
-2.85% -1.27% -24.05%   -1.27% -5.04% -3.73%   +0.93% -3.82% -2.98%   -8.48% -11.34% -0.33% +0.52% -1.43% -1.48%
DBCR +5.43% +4.60% +10.77%   +4.60% +2.44% +1.42%   +4.46% +2.47% +1.34%   -0.10% +3.38% +2.26% +1.56% -3.80% +0.10%

Click Here for Dividend Summary

Performance shown since the implementation of the updated strategy, effective 6/30/2012. Effective 6/30/2012, risk sentiment and macro models were added to this Fund. Please refer to the strategy page for a full description of this strategy change.


Performance data represents past performance and is no guarantee of future results. Current performance may be lower or higher than the performance data quoted. Investment return and principal value will fluctuate so that an investor's shares, when redeemed, may be worth more or less than original cost. The Fund's Investor Shares expense ratio is 1.30%.

The ICE U.S. Dollar Index® (USDX) is a trade-weighted geometric average of the U.S. dollar’s value compared to a basket of six major global currencies (euro, Japanese yen, British pound, Canadian dollar, Swedish krona, Swiss franc) set by the ICE (IntercontinentalExchange) Futures US. It is not possible to invest directly in an index.
Deutsche Bank Currency Returns (DBCR) Index is an equal-weighted blend of the most widely used investment strategies among active currency managers. It captures long term systematic returns available in the world of currency markets.

As with any investment strategy, there is no guarantee we will achieve this goal and the strategy may not be suitable for every investor. The Fund is not a substitute for a money market fund. The prospectus should be read carefully before investing.