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.