Glossary

ABC Consumer Confidence	Import Price Index
ADP Employment Change	Industrial Production
Advance Retail Sales	Initial Jobless Claims
Bond Fund	Investment Grade Security
Budget Deficit	ISM Manufacturing
Building Permits	ISM Non-Manufacturing Composite
Business Inventories	Leading Indicators
Capacity Utilization	Maturity
Chicago Purchasing Manager	Monetary Policy
Construction Spending MoM	Money Market Instrument
Consumer Confidence	NRSRO
Consumer Credit	Secular Bear Market
Consumer Price Index	Security
Continuing Claims	Stagflation
Current Account Balance	Trade Deficit
Current Account Deficit	Twin Deficits
Derivative Security	MBA Mortgage Applications
Double Deficit	Monthly Budget Statement
Durable Goods Orders	Net Long-term TIC Flows
Durables Ex Transportation	New Home Sales
Duration	Nonfarm Payrolls
Empire Manufacturing	Nonfarm Productivity
ETFs	PCE Deflator (YoY)
Exchange Rate	Pending Home Sales MoM
Existing Home Sales	Personal Income
Factory Orders	Personal Spending
Federal Reserve Open Market Committee Meeting	Philadelphia Fed Report
Fed's Beige Book	Producer Price Index (MoM)
Fixed Income Security	Retail Sales Less Autos
FOMC Minutes	Total Net TIC Flows
Forward Contract	Total Vehicle Sales
Forward Currency Contract	Trade Balance
G-20	U. of Michigan Confidence
GDP	Unemployment Rate
Hard Currency	Unit Labor Costs
Housing Starts	Wholesale Inventories
ICSC Chain Store Sales YoY

Quick Links:
> How to Invest
> Merk Hard Currency Fund
> Merk Asian Currency Fund

Click here for the latest media coverage.

Merk Hard Money -
News & Analysis

Before investing you should carefully consider the Fund's investment objectives, risks, charges and expenses. This and other information is in the prospectus, a copy of which may be obtained by clicking here. Please read the prospectus carefully.