The Fund's objective is to provide long-term growth of capital. The Fund invests in equity and equity-related securities of issuers that are engaged in the exploration and production of precious metals and minerals such as gold, silver, platinum, palladium, diamonds and other precious metals, minerals and gems, supplemented by the securities of issuers operating in the base metals and resource sectors.

Strong long-term demand is expected to support gold prices as investors seek a safe haven from volatile markets, weakening world currencies and the risk of inflation. In addition, key supply challenges such as the difficulty of finding new material deposits, environmental opposition and the threat of nationalization in some of the most promising regions for resource development should support prices in the future. Central banks, formerly net sellers of gold, are now becoming net buyers, which also bodes well for ongoing strength in the gold market.

The Fund was rated the top performing precious metals fund in 2010 as ranked by Morningstar.