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Home > About Us > Press Releases > December 7, 2011

Press Release: Merk Elevates Singapore Dollar to Hard Currency

— The Authority on Currencies™ endorses Singapore Dollar thanks to sound monetary policy —

PALO ALTO, CA. December 7, 2011 – Merk Investments, manager of the Merk Funds, today announced that it now considers the Singapore Dollar a hard currency. While Merk has invested in the Singapore Dollar for years though the Merk Asian Currency Fund® (MEAFX), Merk may now invest in the Singapore Dollar more broadly, specifically also in the Merk Hard Currency Fund® (MERKX).

"Singapore is the new Switzerland. In an era when other central banks resort to the printing press in an ill-guided effort to remain competitive, the Monetary Authority of Singapore (MAS) has shown prudence and restraint," says Axel Merk, President and Chief Investment Officer at Merk. Singapore has a unique approach to conducting monetary policy: rather than targeting interest rates or money supply, the MAS conducts its monetary policy through a managed float regime for the Singapore dollar against a basket of currencies. “We now believe that the MAS policy is not only appropriate for Singapore's trade based economy, but also consistent with our view of the pursuit of sound monetary policy in an increasingly unstable world," concludes Merk.

Merk Investments, with over $750 million in assets under management, is a Palo Alto, California based SEC registered investment advisory firm and the manager of the Merk Funds.  Merk is the largest mutual fund company that focuses predominantly on currencies. The Merk Funds are a suite of transparent no-load currency mutual funds, consisting of: the Merk Hard Currency Fund® (MERKX), the Merk Asian Currency Fund® (MEAFX), the Merk Absolute Return Currency Fund® (MABFX) and the Merk Currency Enhanced U.S. Equity Fund℠ (MUSFX). The Merk Funds provide investors with the opportunity to add managed currency exposure to their portfolios, which may provide valuable diversification benefits. 

For important information about the Merk Funds, including their holdings, how to obtain a prospectus and to invest, please visit www.merkfunds.com.

For more information, or to schedule an interview, please contact:

Katharina Egberink
Merk Investments, LLC
(650) 323 4341
pr [at] merkinvestments.com

Merk Investments

Merk Investments LLC, is a Palo Alto, California, based SEC registered investment advisory firm managing currency mutual funds. For more information on Merk Investments or the Merk Funds, please visit www.merkfunds.com.

This information does not constitute a solicitation or an offer to buy or sell any investment security, nor provide investment advice. Merk Investments LLC.

Transaction fees and other restrictions may apply to invest through a broker. As with any mutual fund product, there is no guarantee that the funds will achieve their goals. Investors should consider the investment objectives, risks and charges and expenses of the Funds carefully before investing. This and other information is in the prospectus, a copy of which may be obtained by visiting the Funds’ website at www.merkfunds.com or calling 866-MERK FUND. Please read the prospectus carefully before you invest.

The Funds’ principal investment risks include, but are not limited to, currency exchange rate risk, foreign instrument risk and interest rate risk. For a more complete discussion of these risks please refer to the Funds’ prospectus. Foreside Fund Services, LLC, distributor.