The fund seeks to achieve its investment objective by investing, under normal circumstances, at least 80% of its net assets, plus borrowings for investment purposes, in gold and securities of companies located throughout the world, in both developed and emerging markets, that are engaged in mining or processing gold ("Gold Related Securities"). It may also invest in other precious metals ("Other Precious Metals"). However, no more than 20% of the fund's total assets may be invested directly in gold bullion and other precious metals. The fund is non-diversified.